Boyd Gaming Corporation
BYD Mid CapConsumer Cyclical · Resorts & Casinos
Updated: Jun 14, 2026, 22:19 UTC
Price Chart
Key Metrics
Valuation Analysis
About the Company
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in the United States and Canada. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments. It owns and operates casinos; Boyd Interactive, an online casino gaming business; and a travel agency. The company was formerly known as The Boyd Group and changed its name to Boyd Gaming Corporation in April 1993. Boyd Gaming Corporation was founded in 1975 and is headquartered in Las Vegas, Nevada.
Boyd Gaming Corporation Stock at a Glance
Boyd Gaming Corporation (BYD) is currently trading at $87.46 with a market capitalization of $6.5B. The trailing P/E ratio stands at 3.87x, with a forward P/E of 11.18x. The 52-week range spans from $73.90 to $89.96; the current price is 2.8% below the yearly high. Year-over-year revenue growth stands at +0.6%. The net profit margin stands at 44.84%.
💰 Dividend
Boyd Gaming Corporation pays an annual dividend of $0.76 per share, representing a yield of 0.87%. The payout ratio stands at 3.27%.
📊 Analyst Rating
15 analysts rate Boyd Gaming Corporation (BYD) on consensus: Buy. The average price target is $93.73, implying +7.17% from the current price. Analyst price targets range from $81.00 to $110.00.
Boyd Gaming Corporation: The Investment Case in Detail
Boyd Gaming Corporation (BYD) operates in the Consumer Cyclical — specifically Resorts & Casinos — and is headquartered in United States. Below is a structured read of the investment case built directly from the latest fundamentals, valuation multiples, analyst positioning and smart-money flows. Each section translates raw numbers into the investment logic they imply, so you can decide whether the risk/reward fits your portfolio.
The Bull Case
The combination of a 59.16% gross margin and 18.47% operating margin shows the business converts revenue into profit efficiently — a hallmark of competitive moat. Return on equity of 94.28% places management among the most capital-efficient operators in the public market — every euro of shareholder capital is working hard. Free cash flow is positive and net margins stand at 44.84%, meaning reported earnings translate into real cash that can fund buybacks, dividends or strategic acquisitions.
The Bear Case
Revenue growth has slowed to just 0.6%, which is below nominal GDP — the business is no longer outgrowing the broader economy.
Valuation in Context
At a PEG of 3.03, investors are paying more than three times the growth rate for each unit of earnings — that pricing assumes growth not only continues but accelerates from here. The EV/EBITDA multiple of 7.66x is below the historical equity-market average — strategic acquirers would find the cash-flow profile attractive at this level.
Investment Thesis: Strengths & Weaknesses
- Profitable with 44.84% net margin
- High return on equity (94.28% ROE)
- High gross margin of 59.16% — indicates pricing power
- Analyst consensus: Buy
- Currently flagged as undervalued
- Positive free cash flow
No significant red flags in current metrics.
Technical Snapshot
Price trades above both the 50- and 200-day moving averages, with 50d above 200d — a classic bullish setup (golden-cross alignment).
Risk Profile
The data points to market-like volatility, elevated short interest (5.96%), higher leverage relative to equity.
Trading Data
💵 Dividend Info
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