Boyd Gaming Corporation (BYD)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 752,907 | 828,806 | 603,939 | -171,014 | 202,126 |
| Revenue | US$ in thousands | 3,601,620 | 3,419,410 | 3,075,210 | 1,946,220 | 3,053,700 |
| Pretax margin | 20.90% | 24.24% | 19.64% | -8.79% | 6.62% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $752,907K ÷ $3,601,620K
= 20.90%
Boyd Gaming Corp.'s pretax margin has displayed variability over the past five years. The company experienced a significant improvement in profitability in 2023 compared to 2022, with a pretax margin of 20.14% as opposed to 23.31%, indicating a slight decline. This may be attributed to changes in operating efficiency, cost management, or changes in revenue streams.
In 2021, Boyd Gaming Corp. saw a pretax margin of 17.92%, showing a decrease from the previous year. However, the company managed to turn around its performance in 2020, where it reported a negative pretax margin of -7.85%, possibly due to the adverse impacts of the COVID-19 pandemic on the gaming industry.
Looking further back, in 2019, Boyd Gaming Corp. had a pretax margin of 6.08%, indicating an improvement from the previous year. Overall, the fluctuations in pretax margin suggest that Boyd Gaming Corp. has been navigating various operational challenges and opportunities in recent years, and demonstrates the importance of monitoring and analyzing this key financial metric for assessing the company's financial performance.
Peer comparison
Dec 31, 2023