Boyd Gaming Corporation (BYD)

Debt-to-assets ratio

		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
Long-term debt	US$ in thousands	2,871,220	2,864,850	2,899,690	2,924,310	3,005,130	2,825,050	2,864,590	2,989,860	2,989,920	3,292,860	3,300,230	3,859,500	3,866,740	3,958,370	4,893,880	4,368,100	3,738,940	3,780,750	3,882,220	3,922,520
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
Debt-to-assets ratio		0.46	0.45	0.46	0.46	0.48	0.47	0.47	0.48	0.48	0.51	0.52	0.58	0.59	0.60	0.66	0.62	0.56	0.57	0.58	0.58

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,871,220K ÷ $6,273,130K
= 0.46

The debt-to-assets ratio for Boyd Gaming Corp. has remained relatively stable over the past eight quarters, ranging from 0.46 to 0.49. This ratio indicates that, on average, Boyd Gaming financed 46% to 49% of its assets through debt during this period.

A decreasing trend in the debt-to-assets ratio would generally suggest that Boyd Gaming is becoming less reliant on debt financing to support its operations and investments, which can be seen as a positive sign of financial strength and stability.

Conversely, an increasing trend in the debt-to-assets ratio could indicate a higher level of financial risk associated with the company's capital structure, as a larger proportion of assets are being financed through debt. It is important for investors and analysts to monitor this ratio closely to assess Boyd Gaming's ability to manage its debt obligations and maintain a healthy balance sheet.