Boyd Gaming Corporation Common Stock (BYD)

FairStock Score: 66/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Boyd Gaming is a multi-jurisdictional casino operator with properties in Las Vegas locals, downtown Las Vegas, Midwest & South, and an online segment. The business has scale: fiscal 2025 revenue was $4.1B, and the latest reported quarter, fiscal Q2 2026 ended 2026-06-30, produced $1.0B of revenue and $131.2M of net income. That is respectable, but not rapidly growing: revenue growth is 0.04% and profit growth is -13.35%. The FairStock P/E is only 3.13 at the 2026-10-13 close of $70.46, yet I would not take that at face value. Fiscal Q3 2025, ended 2025-09-30, reported $1.4B of net income and $17.81 diluted EPS, which inflates trailing earnings; the FairStock P/E is therefore flattered by what looks like an unusual quarter. On asset value, FairStock P/B is 2.06, and the Graham Number of $131.70 implies a 46.50% margin of safety, which is appealing if earnings normalize. Financial health is mixed: FairStock ROE is 93.08%, but ROCE is 7.82%, D/E is 1.30, and trailing free cash flow is -$49.9M. The Altman Z-Score of 1.49 and Piotroski F-Score of 6/9 suggest some balance-sheet caution. FairStock labels it a Stalwart, citing 41.2% annual profit growth over four years and 5.0% revenue growth, but current profit growth is negative. A patient value investor might see a cheap price against asset value and normalized earnings, but only if cash flow recovers and the 2025 earnings spike proves non-recurring. The moat is probably modest, tied to regulated local markets and repeat customers, not a wide economic castle.

In plain English: Boyd Gaming runs casinos and online gaming in several U.S. markets. The company is profitable, with about $1.0 billion of revenue and $131.2 million of net income in its latest reported quarter, but cash flow after investments has been negative and growth has stalled. Based on the numbers given, the shares look cheap compared with reported earnings, though those earnings were helped by one unusually large quarter in fiscal 2025.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer