Boyd Gaming Corporation (BYD)
Interest coverage
| 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 interest and tax (EBIT) (ttm) | US$ in thousands | 929,412 | 822,953 | 803,206 | 821,969 | 885,564 | 973,811 | 994,576 | 954,925 | 913,267 | 858,037 | 843,885 | 889,588 | 824,139 | 786,421 | 711,472 | 372,850 | 79,359 | 43,783 | 25,148 | 238,951 |
| Interest expense (ttm) | US$ in thousands | 177,409 | 173,780 | 169,924 | 169,690 | 171,247 | 170,057 | 163,706 | 157,457 | 151,249 | 151,375 | 160,545 | 179,210 | 199,442 | 215,236 | 232,452 | 236,529 | 230,484 | 228,681 | 225,955 | 227,980 |
| Interest coverage | 5.24 | 4.74 | 4.73 | 4.84 | 5.17 | 5.73 | 6.08 | 6.06 | 6.04 | 5.67 | 5.26 | 4.96 | 4.13 | 3.65 | 3.06 | 1.58 | 0.34 | 0.19 | 0.11 | 1.05 |
December 31, 2024 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $929,412K ÷ $177,409K
= 5.24
The interest coverage ratio for Boyd Gaming Corporation has shown significant fluctuations over the periods provided. It started at a low point of 1.05 in March 2020 and then fell sharply to 0.11 in June 2020, indicating that the company's operating income was not sufficient to cover its interest expenses during that period. Subsequently, there was a gradual improvement in the interest coverage ratio, reaching a peak of 6.08 in June 2023.
Overall, the trend suggests that Boyd Gaming Corporation has been gradually strengthening its ability to cover its interest expenses with operating income over time. However, it is also important to note that the ratio decreased slightly by the end of the period in December 2024 to 5.24, indicating a slight decrease in the company's ability to cover interest payments with its operating income.
In conclusion, while there have been fluctuations in Boyd Gaming Corporation's interest coverage ratio over the years, the general trend shows an improvement in the company's ability to meet its interest obligations with operating income.
Peer comparison
Dec 31, 2024