Boyd Gaming Corporation (BYD)

Pretax margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	752,003	649,173	652,328	671,325	752,907	865,540	891,766	877,087	828,806	748,269	723,164	680,290	603,939	552,412	443,874	152,406	86	-67,886	-83,795	127,941
Revenue (ttm)	US$ in thousands	3,930,199	3,843,691	3,785,609	3,735,047	3,738,492	3,707,001	3,681,100	3,658,600	3,555,377	3,512,297	3,478,094	3,477,246	3,369,810	3,125,837	2,935,015	2,251,272	2,178,490	2,375,753	2,543,083	3,179,356
Pretax margin		19.13%	16.89%	17.23%	17.97%	20.14%	23.35%	24.23%	23.97%	23.31%	21.30%	20.79%	19.56%	17.92%	17.67%	15.12%	6.77%	0.00%	-2.86%	-3.30%	4.02%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $752,003K ÷ $3,930,199K
= 19.13%

Boyd Gaming Corporation's pretax margin has shown fluctuations over the given periods. The pretax margin started at 4.02% on March 31, 2020, and experienced a decline over the next few quarters, reaching negative figures of -3.30% on June 30, 2020, and -2.86% on September 30, 2020. However, there was an improvement, with the pretax margin returning to positive territory at 0.00% on December 31, 2020.

Subsequently, there was a notable improvement in profitability, with the pretax margin increasing to 6.77% on March 31, 2021, and experiencing further growth to 15.12% on June 30, 2021. The positive trend continued with pretax margins of 17.67% on September 30, 2021, and 17.92% on December 31, 2021.

The pretax margin peaked at 24.23% on June 30, 2023, showing strong profitability during that period. However, there was a decrease in the pretax margin in the following quarters, with figures of 20.14% on December 31, 2023, and 17.97% on March 31, 2024.

Overall, Boyd Gaming Corporation's pretax margin has displayed variability, with periods of both growth and decline. Investors and stakeholders may be interested in monitoring the company's future performance to assess its ability to sustain profitability and manage costs effectively.