Boyd Gaming Corporation (BYD)
Return on total capital
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) | US$ in thousands | 929,412 | 924,154 | 980,055 | 861,137 | 3,892 |
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 1,581,510 | 1,744,100 | 1,590,620 | 1,538,750 | 1,123,940 |
| Return on total capital | 58.77% | 52.99% | 61.61% | 55.96% | 0.35% |
December 31, 2024 calculation
Return on total capital = EBIT ÷ (Long-term debt + Total stockholders’ equity)
= $929,412K ÷ ($—K + $1,581,510K)
= 58.77%
Boyd Gaming Corporation's return on total capital has shown a significant improvement over the years, reflecting its ability to generate higher returns relative to the capital invested in the business. The return on total capital was relatively low at 0.35% as of December 31, 2020, but experienced a sharp increase to 55.96% by December 31, 2021. This substantial growth continued as the return on total capital reached 61.61% by the end of 2022.
However, there was a slight decline in the return on total capital to 52.99% by December 31, 2023, followed by a rebound to 58.77% as of December 31, 2024. Overall, the trend indicates that Boyd Gaming Corporation has been effectively utilizing its capital to generate higher returns, demonstrating enhanced efficiency and profitability in its operations.
Peer comparison
Dec 31, 2024