BOYD GAMING CORP (BYD) Stock Fundamental Analysis
NYSE:BYD - US1033041013 - Common Stock
87.28 USD
+0.47 (+0.54%)
87.28 USD
0 (0%)
BYD gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 131 industry peers in the Hotels, Restaurants & Leisure industry. While BYD belongs to the best of the industry regarding profitability, there are concerns on its financial health. BYD may be a bit undervalued, certainly considering the very reasonable score on growth
1. Profitability
1.1 Basic Checks
In the past year BYD was profitable.
In the past year BYD had a positive cash flow from operations.
Of the past 5 years BYD 4 years were profitable.
BYD had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
BYD's Return On Assets of 8.60% is amongst the best of the industry. BYD outperforms 83.21% of its industry peers.
Looking at the Return On Equity, with a value of 40.51%, BYD belongs to the top of the industry, outperforming 90.08% of the companies in the same industry.
BYD has a better Return On Invested Capital (12.83%) than 80.15% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for BYD is below the industry average of 15.87%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.6% | ||
| ROE | 40.51% | ||
| ROIC | 12.83% |
ROA(3y)9.69%
ROA(5y)6.89%
ROE(3y)37.43%
ROE(5y)26.09%
ROIC(3y)13.71%
ROIC(5y)11.32%
1.3 Margins
BYD has a Profit Margin of 14.02%. This is amongst the best in the industry. BYD outperforms 85.50% of its industry peers.
BYD's Profit Margin has improved in the last couple of years.
BYD's Operating Margin of 23.73% is amongst the best of the industry. BYD outperforms 86.26% of its industry peers.
In the last couple of years the Operating Margin of BYD has grown nicely.
Looking at the Gross Margin, with a value of 51.60%, BYD is in the better half of the industry, outperforming 60.31% of the companies in the same industry.
BYD's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 23.73% | ||
| PM (TTM) | 14.02% | ||
| GM | 51.6% |
OM growth 3Y-4.44%
OM growth 5Y10.94%
PM growth 3Y2.23%
PM growth 5Y25.42%
GM growth 3Y-3.19%
GM growth 5Y1.76%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so BYD is still creating some value.
Compared to 1 year ago, BYD has less shares outstanding
Compared to 5 years ago, BYD has less shares outstanding
BYD has a worse debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 2.18 indicates that BYD is not a great score, but indicates only limited risk for bankruptcy at the moment.
BYD has a Altman-Z score of 2.18. This is comparable to the rest of the industry: BYD outperforms 58.02% of its industry peers.
The Debt to FCF ratio of BYD is 8.45, which is on the high side as it means it would take BYD, 8.45 years of fcf income to pay off all of its debts.
BYD has a better Debt to FCF ratio (8.45) than 67.18% of its industry peers.
BYD has a Debt/Equity ratio of 2.53. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 2.53, BYD perfoms like the industry average, outperforming 45.80% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.53 | ||
| Debt/FCF | 8.45 | ||
| Altman-Z | 2.18 |
ROIC/WACC1.45
WACC8.85%
2.3 Liquidity
A Current Ratio of 0.86 indicates that BYD may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.86, BYD is in line with its industry, outperforming 48.09% of the companies in the same industry.
BYD has a Quick Ratio of 0.86. This is a bad value and indicates that BYD is not financially healthy enough and could expect problems in meeting its short term obligations.
BYD's Quick ratio of 0.82 is in line compared to the rest of the industry. BYD outperforms 49.62% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.86 | ||
| Quick Ratio | 0.82 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 14.08% over the past year.
BYD shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 29.85% yearly.
BYD shows a small growth in Revenue. In the last year, the Revenue has grown by 6.39%.
Measured over the past years, BYD shows a small growth in Revenue. The Revenue has been growing by 3.39% on average per year.
EPS 1Y (TTM)14.08%
EPS 3Y8.67%
EPS 5Y29.85%
EPS Q2Q%18.35%
Revenue 1Y (TTM)6.39%
Revenue growth 3Y5.26%
Revenue growth 5Y3.39%
Sales Q2Q%6.87%
3.2 Future
The Earnings Per Share is expected to grow by 10.02% on average over the next years. This is quite good.
Based on estimates for the next years, BYD will show a decrease in Revenue. The Revenue will decrease by -1.92% on average per year.
EPS Next Y5.88%
EPS Next 2Y9.25%
EPS Next 3Y10.02%
EPS Next 5YN/A
Revenue Next Year-2.14%
Revenue Next 2Y-3.06%
Revenue Next 3Y-1.92%
Revenue Next 5YN/A
3.3 Evolution
The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
BYD is valuated correctly with a Price/Earnings ratio of 12.52.
Compared to the rest of the industry, the Price/Earnings ratio of BYD indicates a rather cheap valuation: BYD is cheaper than 88.55% of the companies listed in the same industry.
BYD is valuated cheaply when we compare the Price/Earnings ratio to 27.14, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 11.13, which indicates a very decent valuation of BYD.
Based on the Price/Forward Earnings ratio, BYD is valued cheaply inside the industry as 87.02% of the companies are valued more expensively.
BYD is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.80, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.52 | ||
| Fwd PE | 11.13 |
4.2 Price Multiples
82.44% of the companies in the same industry are more expensive than BYD, based on the Enterprise Value to EBITDA ratio.
82.44% of the companies in the same industry are more expensive than BYD, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 16.57 | ||
| EV/EBITDA | 8.22 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates BYD does not grow enough to justify the current Price/Earnings ratio.
BYD has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)2.13
PEG (5Y)0.42
EPS Next 2Y9.25%
EPS Next 3Y10.02%
5. Dividend
5.1 Amount
With a yearly dividend of 0.86%, BYD is not a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 4.19, BYD pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.34, BYD's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.86% |
5.2 History
On average, the dividend of BYD grows each year by 21.48%, which is quite nice.
BYD has paid a dividend for at least 10 years, which is a reliable track record.
BYD has decreased its dividend in the last 3 years.
Dividend Growth(5Y)21.48%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
10.64% of the earnings are spent on dividend by BYD. This is a low number and sustainable payout ratio.
The dividend of BYD is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP10.64%
EPS Next 2Y9.25%
EPS Next 3Y10.02%
87.28
+0.47 (+0.54%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)
Earnings (Next)
Inst Owners75.96%
Inst Owner Change-5.01%
Ins Owners21.76%
Ins Owner Change-1.58%
Market Cap7.00B
Analysts74.74
Price Target91.97 (5.37%)
Short Float %4.48%
Short Ratio2.02
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.86% |
Yearly Dividend0.68
Dividend Growth(5Y)21.48%
DP10.64%
Div Incr Years2
Div Non Decr Years2
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)8.91%
Min EPS beat(2)5.72%
Max EPS beat(2)12.09%
EPS beat(4)4
Avg EPS beat(4)9.04%
Min EPS beat(4)5.72%
Max EPS beat(4)12.09%
EPS beat(8)6
Avg EPS beat(8)4.96%
EPS beat(12)9
Avg EPS beat(12)6.35%
EPS beat(16)13
Avg EPS beat(16)6.58%
Revenue beat(2)2
Avg Revenue beat(2)2.75%
Min Revenue beat(2)0.68%
Max Revenue beat(2)4.81%
Revenue beat(4)4
Avg Revenue beat(4)2.9%
Min Revenue beat(4)0.68%
Max Revenue beat(4)4.81%
Revenue beat(8)7
Avg Revenue beat(8)2.4%
Revenue beat(12)10
Avg Revenue beat(12)2.62%
Revenue beat(16)13
Avg Revenue beat(16)2.36%
PT rev (1m)4.44%
PT rev (3m)12.28%
EPS NQ rev (1m)4.81%
EPS NQ rev (3m)3.88%
EPS NY rev (1m)5.41%
EPS NY rev (3m)4.94%
Revenue NQ rev (1m)-5.53%
Revenue NQ rev (3m)-9.06%
Revenue NY rev (1m)-3.56%
Revenue NY rev (3m)-3.73%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.52 | ||
| Fwd PE | 11.13 | ||
| P/S | 1.74 | ||
| P/FCF | 16.57 | ||
| P/OCF | 7.33 | ||
| P/B | 5.02 | ||
| P/tB | N/A | ||
| EV/EBITDA | 8.22 |
EPS(TTM)6.97
EY7.99%
EPS(NY)7.84
Fwd EY8.98%
FCF(TTM)5.27
FCFY6.03%
OCF(TTM)11.9
OCFY13.64%
SpS50.23
BVpS17.38
TBVpS-11.84
PEG (NY)2.13
PEG (5Y)0.42
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.6% | ||
| ROE | 40.51% | ||
| ROCE | 16.11% | ||
| ROIC | 12.83% | ||
| ROICexc | 13.56% | ||
| ROICexgc | 23.28% | ||
| OM | 23.73% | ||
| PM (TTM) | 14.02% | ||
| GM | 51.6% | ||
| FCFM | 10.48% |
ROA(3y)9.69%
ROA(5y)6.89%
ROE(3y)37.43%
ROE(5y)26.09%
ROIC(3y)13.71%
ROIC(5y)11.32%
ROICexc(3y)14.47%
ROICexc(5y)11.99%
ROICexgc(3y)25.84%
ROICexgc(5y)21.38%
ROCE(3y)17.23%
ROCE(5y)14.22%
ROICexcg growth 3Y-0.73%
ROICexcg growth 5Y16.07%
ROICexc growth 3Y-0.21%
ROICexc growth 5Y16.3%
OM growth 3Y-4.44%
OM growth 5Y10.94%
PM growth 3Y2.23%
PM growth 5Y25.42%
GM growth 3Y-3.19%
GM growth 5Y1.76%
F-Score7
Asset Turnover0.61
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.53 | ||
| Debt/FCF | 8.45 | ||
| Debt/EBITDA | 2.84 | ||
| Cap/Depr | 186.18% | ||
| Cap/Sales | 13.21% | ||
| Interest Coverage | 5.18 | ||
| Cash Conversion | 76.87% | ||
| Profit Quality | 74.81% | ||
| Current Ratio | 0.86 | ||
| Quick Ratio | 0.82 | ||
| Altman-Z | 2.18 |
F-Score7
WACC8.85%
ROIC/WACC1.45
Cap/Depr(3y)131.54%
Cap/Depr(5y)106.28%
Cap/Sales(3y)9.25%
Cap/Sales(5y)8.34%
Profit Quality(3y)98.02%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)14.08%
EPS 3Y8.67%
EPS 5Y29.85%
EPS Q2Q%18.35%
EPS Next Y5.88%
EPS Next 2Y9.25%
EPS Next 3Y10.02%
EPS Next 5YN/A
Revenue 1Y (TTM)6.39%
Revenue growth 3Y5.26%
Revenue growth 5Y3.39%
Sales Q2Q%6.87%
Revenue Next Year-2.14%
Revenue Next 2Y-3.06%
Revenue Next 3Y-1.92%
Revenue Next 5YN/A
EBIT growth 1Y2.42%
EBIT growth 3Y0.59%
EBIT growth 5Y14.71%
EBIT Next Year31.32%
EBIT Next 3Y9.83%
EBIT Next 5YN/A
FCF growth 1Y-34.15%
FCF growth 3Y-11.78%
FCF growth 5Y10.27%
OCF growth 1Y-2.92%
OCF growth 3Y-1.79%
OCF growth 5Y11.76%