Boyd Gaming Corporation (BYD)

Operating profit margin

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating income	US$ in thousands	927,777	901,831	981,224	900,104	235,961
Revenue	US$ in thousands	3,930,190	3,738,490	3,555,380	3,369,810	2,178,490
Operating profit margin		23.61%	24.12%	27.60%	26.71%	10.83%

December 31, 2024 calculation

Operating profit margin = Operating income ÷ Revenue
= $927,777K ÷ $3,930,190K
= 23.61%

Boyd Gaming Corporation's operating profit margin has shown a positive trend over the past five years. Starting at 10.83% as of December 31, 2020, the operating profit margin has steadily increased to 26.71% as of December 31, 2021, further improving to 27.60% by December 31, 2022.

However, there was a slight decrease in the operating profit margin to 24.12% as of December 31, 2023, followed by a marginal decline to 23.61% by December 31, 2024. Despite the slight decrease in the last two years, Boyd Gaming Corporation has maintained a relatively healthy operating profit margin, indicating efficient cost management and potentially strong operational performance during these periods.

Overall, the fluctuation in the operating profit margin over the years suggests the company's ability to generate profits from its core business operations, with a generally positive trajectory and areas for potential improvement in optimizing costs to sustain profitability.