Boyd Gaming Corporation (BYD)
Solvency ratios
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 4.04 | 3.60 | 3.97 | 4.04 | 5.84 |
Boyd Gaming Corporation's solvency ratios reflect a strong financial position and low reliance on debt for financing. The debt-to-assets, debt-to-capital, and debt-to-equity ratios have remained consistently at 0.00 across the years from 2020 to 2024. This indicates that the company has not taken on any long-term debt relative to its assets, capital, or equity during this period.
The financial leverage ratio, which measures the extent to which the company is using debt to finance its operations, decreased from 5.84 in 2020 to 3.60 in 2023 before slightly increasing to 4.04 in 2024. This downward trend suggests an improvement in the company's ability to meet its financial obligations with its existing capital and earnings.
Overall, the solvency ratios of Boyd Gaming Corporation demonstrate a conservative financial strategy with minimal reliance on debt, resulting in a stable and financially sound position over the years analyzed.
Coverage ratios
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Interest coverage | 5.24 | 5.40 | 6.48 | 4.32 | 0.02 |
Boyd Gaming Corporation's interest coverage ratio has shown a notable improvement over the past few years. As of December 31, 2020, the interest coverage ratio was very low at 0.02, indicating a potential risk of not being able to meet its interest obligations with its earnings. However, by December 31, 2024, the interest coverage ratio had increased significantly to 5.24. This improvement suggests that the company's ability to cover its interest expenses from its operating income has strengthened over time. The upward trend in the interest coverage ratio is a positive indication of Boyd Gaming Corporation's improving financial health and its capacity to service its debt obligations.