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Boyd Gaming

DB:BO5
Snowflake Description

Limited growth unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BO5
DB
$3B
Market Cap
  1. Home
  2. DE
  3. Consumer Services
Company description

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. The last earnings update was 37 days ago. More info.


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BO5 Share Price and Events
7 Day Returns
9.8%
DB:BO5
0.1%
DE Hospitality
-3.6%
DE Market
1 Year Returns
-24.4%
DB:BO5
-52.1%
DE Hospitality
-11.8%
DE Market
BO5 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Boyd Gaming (BO5) 9.8% 0.1% -6% -24.4% 45.3% 165.2%
DE Hospitality 0.1% -9.6% -10.1% -52.1% -29% -25.2%
DE Market -3.6% -2.1% -0.8% -11.8% 12% 5.8%
1 Year Return vs Industry and Market
  • BO5 outperformed the Hospitality industry which returned -52.1% over the past year.
  • BO5 underperformed the Market in Germany which returned -11.8% over the past year.
Price Volatility
BO5
Industry
5yr Volatility vs Market

Value

 Is Boyd Gaming undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Boyd Gaming to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Boyd Gaming.

DB:BO5 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.7%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:BO5
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Hospitality Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.921 (1 + (1- 21%) (166.44%))
1.758
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.76
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.758 * 5.96%)
10.71%

Discounted Cash Flow Calculation for DB:BO5 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Boyd Gaming is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:BO5 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.71%)
2019 407.27 Analyst x6 367.88
2020 455.65 Analyst x6 371.79
2021 453.20 Analyst x4 334.03
2022 397.00 Analyst x1 264.31
2023 395.12 Est @ -0.47% 237.63
2024 394.09 Est @ -0.26% 214.09
2025 393.63 Est @ -0.12% 193.16
2026 393.58 Est @ -0.01% 174.46
2027 393.82 Est @ 0.06% 157.68
2028 394.25 Est @ 0.11% 142.59
Present value of next 10 years cash flows $2,457.63
DB:BO5 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $394.25 × (1 + 0.23%) ÷ (10.71% – 0.23%)
$3,771.59
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $3,771.59 ÷ (1 + 10.71%)10
$1,364.11
DB:BO5 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,457.63 + $1,364.11
$3,821.74
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $3,821.74 / 110.98
$34.44
DB:BO5 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:BO5 represents 0.88828x of NYSE:BYD
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88828x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 34.44 x 0.88828
€30.59
Value per share (EUR) From above. €30.59
Current discount Discount to share price of €23.42
= -1 x (€23.42 - €30.59) / €30.59
23.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Boyd Gaming is available for.
Intrinsic value
23%
Share price is €23.42 vs Future cash flow value of €30.59
Current Discount Checks
For Boyd Gaming to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Boyd Gaming's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Boyd Gaming's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Boyd Gaming's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Boyd Gaming's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:BO5 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.04
NYSE:BYD Share Price ** NYSE (2019-06-14) in USD $26.36
Germany Hospitality Industry PE Ratio Median Figure of 10 Publicly-Listed Hospitality Companies 18.98x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.7x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Boyd Gaming.

DB:BO5 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:BYD Share Price ÷ EPS (both in USD)

= 26.36 ÷ 1.04

25.34x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Boyd Gaming is overvalued based on earnings compared to the DE Hospitality industry average.
  • Boyd Gaming is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Boyd Gaming's expected growth come at a high price?
Raw Data
DB:BO5 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 25.34x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
13.3%per year
Germany Hospitality Industry PEG Ratio Median Figure of 5 Publicly-Listed Hospitality Companies 1.31x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

DB:BO5 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 25.34x ÷ 13.3%

1.9x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Boyd Gaming is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Boyd Gaming's assets?
Raw Data
DB:BO5 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $10.51
NYSE:BYD Share Price * NYSE (2019-06-14) in USD $26.36
Germany Hospitality Industry PB Ratio Median Figure of 13 Publicly-Listed Hospitality Companies 2.06x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.76x
DB:BO5 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:BYD Share Price ÷ Book Value per Share (both in USD)

= 26.36 ÷ 10.51

2.51x

* Primary Listing of Boyd Gaming.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Boyd Gaming is overvalued based on assets compared to the DE Hospitality industry average.
X
Value checks
We assess Boyd Gaming's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Hospitality industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Hospitality industry average (and greater than 0)? (1 check)
  5. Boyd Gaming has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Boyd Gaming expected to perform in the next 1 to 3 years based on estimates from 13 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
13.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Boyd Gaming expected to grow at an attractive rate?
  • Boyd Gaming's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Boyd Gaming's earnings growth is expected to exceed the Germany market average.
  • Boyd Gaming's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:BO5 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:BO5 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 13.3%
DB:BO5 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 2.4%
Germany Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 18.9%
Germany Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:BO5 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:BO5 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 3,524 547 222 1
2021-12-31 3,427 583 234 7
2020-12-31 3,387 595 218 13
2019-12-31 3,331 570 182 13
DB:BO5 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 2,848 480 119
2018-12-31 2,627 435 115
2018-09-30 2,413 414 174
2018-06-30 2,392 432 185
2018-03-31 2,397 423 174
2017-12-31 2,401 422 168
2017-09-30 2,361 378 97
2017-06-30 2,301 312 235
2017-03-31 2,242 309 219
2016-12-31 2,199 273 208
2016-09-30 2,172 329 180
2016-06-30 2,186 347 25

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Boyd Gaming's earnings are expected to grow by 13.3% yearly, however this is not considered high growth (20% yearly).
  • Boyd Gaming's revenue is expected to grow by 2.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:BO5 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from Boyd Gaming Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BO5 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 2.34 2.34 2.34 1.00
2021-12-31 2.10 2.17 2.02 5.00
2020-12-31 1.97 2.33 1.73 10.00
2019-12-31 1.59 1.85 1.44 8.00
DB:BO5 Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.04
2018-12-31 1.00
2018-09-30 1.52
2018-06-30 1.62
2018-03-31 1.52
2017-12-31 1.46
2017-09-30 0.84
2017-06-30 2.05
2017-03-31 1.91
2016-12-31 1.81
2016-09-30 1.58
2016-06-30 0.22

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Boyd Gaming is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Boyd Gaming's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Boyd Gaming has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Boyd Gaming performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Boyd Gaming's growth in the last year to its industry (Hospitality).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Boyd Gaming has delivered over 20% year on year earnings growth in the past 5 years.
  • Boyd Gaming's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Boyd Gaming's 1-year earnings growth is negative, it can't be compared to the DE Hospitality industry average.
Earnings and Revenue History
Boyd Gaming's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Boyd Gaming Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BO5 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 2,847.90 118.75 551.31
2018-12-31 2,626.73 114.70 494.20
2018-09-30 2,413.08 173.71 449.51
2018-06-30 2,392.43 185.03 447.03
2018-03-31 2,396.87 174.32 451.21
2017-12-31 2,400.82 168.00 450.19
2017-09-30 2,360.55 96.67 442.43
2017-06-30 2,300.91 235.37 428.52
2017-03-31 2,241.66 218.99 407.33
2016-12-31 2,199.26 207.70 394.93
2016-09-30 2,171.83 180.30 396.26
2016-06-30 2,186.24 25.45 394.51
2016-03-31 2,201.23 -2.85 397.78
2015-12-31 2,199.43 10.70 399.36
2015-09-30 2,188.35 -7.29 393.09
2015-06-30 2,380.88 -29.41 427.70
2015-03-31 2,543.55 -11.76 460.12
2014-12-31 2,142.26 -50.63 403.03
2014-09-30 2,851.26 -67.96 543.77
2014-06-30 2,850.99 -90.12 550.79
2014-03-31 2,867.20 -90.92 562.94
2013-12-31 2,894.44 -91.05 550.28
2013-09-30 2,837.60 -941.13 557.63
2013-06-30 2,711.42 -918.98 545.36
2013-03-31 2,586.74 -917.19 527.32
2012-12-31 2,482.83 -904.24 508.75
2012-09-30 2,464.80 -7.32 489.75
2012-06-30 2,442.63 10.91 474.47

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Boyd Gaming has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Boyd Gaming used its assets less efficiently than the DE Hospitality industry average last year based on Return on Assets.
  • Boyd Gaming's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Boyd Gaming's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Hospitality industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Boyd Gaming has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Boyd Gaming's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Boyd Gaming's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Boyd Gaming's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Boyd Gaming's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Boyd Gaming's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Boyd Gaming Company Filings, last reported 2 months ago.

DB:BO5 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,170.11 4,869.09 248.18
2018-12-31 1,145.74 3,979.30 249.92
2018-09-30 1,141.84 3,549.08 441.46
2018-06-30 1,145.16 3,511.59 633.31
2018-03-31 1,117.56 2,993.20 180.21
2017-12-31 1,097.23 3,075.88 203.60
2017-09-30 1,034.11 3,069.57 159.33
2017-06-30 1,024.32 3,139.84 163.46
2017-03-31 985.71 3,211.53 167.41
2016-12-31 934.13 3,229.46 194.26
2016-09-30 923.03 2,987.25 160.09
2016-06-30 577.04 3,657.86 628.68
2016-03-31 543.60 3,685.60 616.60
2015-12-31 508.01 3,269.55 159.22
2015-09-30 506.17 3,330.38 125.45
2015-06-30 474.47 3,389.31 124.92
2015-03-31 478.88 3,403.79 131.20
2014-12-31 438.09 3,404.85 145.74
2014-09-30 462.61 3,460.42 121.31
2014-06-30 655.80 4,293.33 162.91
2014-03-31 646.82 4,332.77 163.28
2013-12-31 650.44 4,386.49 178.14
2013-09-30 710.47 4,342.74 166.20
2013-06-30 526.06 4,570.24 183.01
2013-03-31 505.29 4,837.82 358.65
2012-12-31 467.13 5,114.54 192.85
2012-09-30 1,373.84 4,090.55 343.77
2012-06-30 1,388.10 3,758.28 360.46
  • Boyd Gaming's level of debt (337.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (669.7% vs 337.5% today).
  • Debt is not well covered by operating cash flow (12.2%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.7x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Boyd Gaming's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Boyd Gaming has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Boyd Gaming's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.06%
Current annual income from Boyd Gaming dividends. Estimated to be 1% next year.
If you bought €2,000 of Boyd Gaming shares you are expected to receive €21 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Boyd Gaming's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • Boyd Gaming's dividend is below the markets top 25% of dividend payers in Germany (3.91%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:BO5 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
Germany Hospitality Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:BO5 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 0.27 4.00
2020-12-31 0.27 8.00
2019-12-31 0.25 7.00
DB:BO5 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-06-07 0.280 1.075
2019-03-04 0.240 0.871
2018-12-07 0.240 0.954
2018-09-14 0.240 0.849
2018-06-08 0.240 0.666
2018-03-02 0.200 0.581
2017-12-07 0.200 0.558
2017-09-06 0.200 0.711
2017-05-08 0.200 0.785
2017-05-02 0.200 0.839
2010-05-07 0.000 0.000
2010-05-04 0.000 0.000
2010-03-05 0.000 0.000
2010-03-02 0.000 0.000
2009-11-06 0.000 0.000
2009-10-27 0.000 0.000
2009-08-10 0.000 0.000
2009-08-05 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Boyd Gaming has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Boyd Gaming only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Boyd Gaming's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (8.6x coverage).
X
Income/ dividend checks
We assess Boyd Gaming's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Boyd Gaming afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Boyd Gaming has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Boyd Gaming's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Keith Smith
COMPENSATION $7,806,598
AGE 57
TENURE AS CEO 11.4 years
CEO Bio

Mr. Keith E. Smith serves as the President of Coast Casinos, Inc. Mr. Smith is Chief Executive Officer and President at Boyd Gaming Corporation since January 1, 2008 and March 31, 2005 respectively. Mr. Smith has been the President of Marina District Finance Company, Inc. since May 2008 and serves as its Chief Executive Officer. He has been the President of Marina District Development Company (MDDC) LLC since May 12, 2005 and has been its Manager since May 12, 2005. He serves as a Vice President and Controller of Boyd Kansas City Inc. He served as Vice President of MDDC. He served as the President of Peninsula Gaming LLC (formerly, Boyd Acquisition Sub, LLC). He served as the Chief Operating Officer of Boyd Gaming Corp. from October 2001 to December 2007 and also served as its Executive Vice President from May 1998 to March 31, 2005. He joined Boyd Gaming Corporation in September 1990 and served various Controllership positions, where he also served as Senior Vice President and Controller. He is an Industry Veteran with nearly 30 years of gaming experience. He has been the Chairman and Director of Los Angeles Branch at The Federal Reserve Bank of San Francisco since January 1, 2012 and January 2009 respectively. He has been the Chairman of the Nevada Resort Association since December 2008 and American Gaming Association since 2010. He served as Vice Chairman of LV.COM, LLC. From 2005 to January 2011, he served as Vice Chairman of Las Vegas Convention and Visitors Authority. He served as the Vice Chairman of American Gaming Association. Mr. Smith has been Director of ExpressJet Airlines, Inc. since October 1, 2013, SkyWest Inc. since October 1, 2013, Marina District Finance Company, Inc. since May 2008, Nevada Resort Association since 2005, Marina District Development Company LLC since May 12, 2005, Boyd Gaming Corporation since April 1, 2005, SkyWest Airlines, Inc. since October 1, 2013 and American Gaming Association since January 2008. Mr. Smith holds a Bachelor's Degree in Accounting from Arizona State University.

CEO Compensation
  • Keith's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Keith's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Boyd Gaming management team in years:

11.4
Average Tenure
58
Average Age
  • The average tenure for the Boyd Gaming management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Bill Boyd

TITLE
Executive Chairman
COMPENSATION
$4M
AGE
87

Keith Smith

TITLE
President
COMPENSATION
$8M
AGE
57
TENURE
11.4 yrs

Josh Hirsberg

TITLE
Executive VP
COMPENSATION
$2M
AGE
56
TENURE
11.4 yrs

Steve Thompson

TITLE
Executive Vice President of Operations
COMPENSATION
$2M
AGE
58
TENURE
3.4 yrs

Brian Larson

TITLE
Executive VP
COMPENSATION
$2M
AGE
62
TENURE
21.4 yrs

Marianne Johnson

TITLE
Vice Chairman
AGE
60
TENURE
11.4 yrs

Ted Bogich

TITLE
Executive Vice President of Operations
AGE
62
TENURE
3.4 yrs

Tony McDuffie

TITLE
VP & Chief Accounting Officer
AGE
57
TENURE
6.3 yrs

Paula Eylar-Lauzon

TITLE
Senior Vice President of Administration
AGE
55

David Strow

TITLE
Vice President of Corporate Communications
Board of Directors Tenure

Average tenure and age of the Boyd Gaming board of directors in years:

15.4
Average Tenure
65.5
Average Age
  • The average tenure for the Boyd Gaming board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Keith Smith

TITLE
President
COMPENSATION
$8M
AGE
57
TENURE
14.2 yrs

Marianne Johnson

TITLE
Vice Chairman
AGE
60
TENURE
18.3 yrs

William Boyd

TITLE
VP & Director
AGE
58
TENURE
26.8 yrs

Peter Thomas

TITLE
Director
COMPENSATION
$332K
AGE
68
TENURE
15.2 yrs

Bill Boyd

TITLE
Executive Chairman
COMPENSATION
$4M
AGE
87
TENURE
30.8 yrs

Christine Spadafor

TITLE
Director
COMPENSATION
$286K
AGE
62
TENURE
10.1 yrs

Richard Flaherty

TITLE
Director
COMPENSATION
$313K
AGE
73
TENURE
7.7 yrs

Bob Boughner

TITLE
Director
COMPENSATION
$263K
AGE
65
TENURE
23.2 yrs

Veronica Wilson

TITLE
Director
COMPENSATION
$274K
AGE
66
TENURE
15.7 yrs

Paul Whetsell

TITLE
Director
COMPENSATION
$273K
AGE
67
TENURE
4.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
19. Mar 19 Sell William Boyd Individual 15. Mar 19 15. Mar 19 -4,000 €25.26 €-101,038
05. Mar 19 Sell Brian Larson Individual 05. Mar 19 05. Mar 19 -49,516 €26.05 €-1,286,538
14. Dec 18 Sell William Boyd Individual 13. Dec 18 13. Dec 18 -100,000 €21.31 €-2,130,766
05. Sep 18 Sell Marianne Johnson Individual 31. Aug 18 31. Aug 18 -26,493 €31.37 €-831,023
30. Aug 18 Sell Marianne Johnson Individual 28. Aug 18 29. Aug 18 -30,600 €31.35 €-938,137
24. Aug 18 Sell Marianne Johnson Individual 24. Aug 18 24. Aug 18 -2,907 €31.85 €-92,582
24. Aug 18 Sell William Boyd Individual 24. Aug 18 24. Aug 18 -7,000 €31.84 €-222,847
X
Management checks
We assess Boyd Gaming's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Boyd Gaming has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. It also engages in owning and operating a travel agency. The company was founded in 1975 and is headquartered in Las Vegas, Nevada.

Details
Name: Boyd Gaming Corporation
BO5
Exchange: DB
Founded: 1975
$2,606,805,320
110,977,963
Website: http://www.boydgaming.com
Address: Boyd Gaming Corporation
3883 Howard Hughes Parkway,
Ninth Floor,
Las Vegas,
Nevada, 89169,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE BYD Common Shares New York Stock Exchange US USD 15. Oct 1993
DB BO5 Common Shares Deutsche Boerse AG DE EUR 15. Oct 1993
Number of employees
Current staff
Staff numbers
23,477
Boyd Gaming employees.
Industry
Casinos and Gaming
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/15 21:16
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/06/14
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.