Boyd Gaming Corporation (BYD)
Financial leverage ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 6,273,130 | 6,311,130 | 6,224,170 | 6,558,950 | 6,650,140 |
| Total stockholders’ equity | US$ in thousands | 1,744,100 | 1,590,620 | 1,538,750 | 1,123,940 | 1,265,240 |
| Financial leverage ratio | 3.60 | 3.97 | 4.04 | 5.84 | 5.26 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $6,273,130K ÷ $1,744,100K
= 3.60
The financial leverage ratio of Boyd Gaming Corp. has shown a decreasing trend over the past five years, indicating a reduction in the company's reliance on debt to finance its operations. The ratio decreased from 5.26 in 2019 to 3.60 in 2023. This decline suggests that the company has been able to repay a significant portion of its debt or has increased its equity base during this period. A lower financial leverage ratio is generally seen as a positive sign as it implies lower financial risk and greater financial stability for the company. Overall, the decreasing trend in Boyd Gaming Corp.'s financial leverage ratio reflects a more conservative capital structure and improved financial health.
Peer comparison
Dec 31, 2023