Boyd Gaming Corporation (BYD)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 4.04 | 3.86 | 3.66 | 3.55 | 3.74 | 3.57 | 3.61 | 3.81 | 3.97 | 3.93 | 3.96 | 4.03 | 4.04 | 4.31 | 4.63 | 5.45 | 5.84 | 6.29 | 7.40 | 6.31 |
Boyd Gaming Corporation's solvency ratios indicate a consistently strong financial position in terms of its ability to meet its long-term obligations. The debt-to-assets ratio, which measures the proportion of assets financed by debt, has remained at 0.00 over the entire reporting period. This suggests that the company has minimal reliance on debt to fund its operations and investments.
Similarly, the debt-to-capital ratio, which assesses the proportion of capital that comes from debt, has also maintained a steady 0.00 ratio throughout the period. This indicates that Boyd Gaming Corporation primarily relies on equity to finance its operations, reducing financial risk.
The debt-to-equity ratio, which indicates the relationship between debt and shareholders' equity, has also been consistently at 0.00. This demonstrates a low level of financial leverage and a healthy balance between debt and equity in the company's capital structure.
The financial leverage ratio, which reflects the extent to which the company uses debt to finance its assets, has shown a declining trend from 6.31 in March 2020 to 4.04 in December 2021, before slightly increasing to 4.04 by December 2024. Despite the slight increase towards the end of the period, the financial leverage ratio remains relatively low, indicating prudent financial management and a reduced dependency on debt financing.
Overall, Boyd Gaming Corporation's solvency ratios signal a stable and well-structured financial position, with minimal debt and a healthy balance between debt and equity. This positions the company favorably in terms of long-term sustainability and ability to weather economic uncertainties.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
Boyd Gaming Corporation's interest coverage ratio has shown fluctuations over the period from March 31, 2020, to December 31, 2024. The interest coverage ratio reflects the company's ability to meet its interest payment obligations with its operating income.
In March 2020, the interest coverage ratio was low at 1.05, indicating a relatively tight financial position with just enough operating income to cover interest expenses. Subsequently, the ratio dropped significantly in June 2020 to 0.11, showing an alarming decline in the company's ability to cover interest expenses with its operating earnings.
However, Boyd Gaming Corporation managed to improve its financial position as the interest coverage ratio gradually increased in the following periods. By December 2024, the ratio reached 5.24, suggesting that the company generated operating income more than five times its interest expenses.
The increasing trend in the interest coverage ratio signifies a positive development in Boyd Gaming Corporation's financial health, indicating a higher capacity to service its debt obligations using its earnings. It also indicates a lower risk of default on interest payments. Nonetheless, it is essential for the company to monitor and maintain this trend to ensure sustainable financial stability in the long run.