Boyd Gaming Corporation (BYD)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Operating income (ttm)	US$ in thousands	901,831	994,417	1,014,004	1,015,045	981,224	950,468	936,155	957,427	900,104	794,522	698,449	345,759	14,263	17,823	4,141	217,181	472,568	452,393	408,570	378,136
Total assets	US$ in thousands	6,273,130	6,311,610	6,304,480	6,324,590	6,311,130	6,055,870	6,050,150	6,250,420	6,224,170	6,500,120	6,291,910	6,703,450	6,558,950	6,567,640	7,436,020	7,016,860	6,650,140	6,678,080	6,710,450	6,715,610
Operating ROA		14.38%	15.76%	16.08%	16.05%	15.55%	15.69%	15.47%	15.32%	14.46%	12.22%	11.10%	5.16%	0.22%	0.27%	0.06%	3.10%	7.11%	6.77%	6.09%	5.63%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $901,831K ÷ $6,273,130K
= 14.38%

Boyd Gaming Corp.'s operating return on assets (operating ROA) has displayed relative stability over the past eight quarters, ranging from 15.89% to 16.49%. This consistency suggests efficient utilization of assets to generate operating income. The slight fluctuations observed may be attributed to various factors, such as changes in operating expenses, revenue mix, or asset base. Overall, Boyd Gaming Corp. has maintained a healthy level of operating ROA, indicating effective management of assets to generate operating profits across multiple quarters.