Boyd Gaming Corporation

NYSE:BYD Stock Report

Market Cap: US$6.3b

Boyd Gaming Valuation

Is BYD undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BYD when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BYD ($71.2) is trading below our estimate of fair value ($116.01)

Significantly Below Fair Value: BYD is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BYD?

Key metric: As BYD is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for BYD. This is calculated by dividing BYD's market cap by their current earnings.
What is BYD's PE Ratio?
PE Ratio12.6x
EarningsUS$500.05m
Market CapUS$6.29b

Price to Earnings Ratio vs Peers

How does BYD's PE Ratio compare to its peers?

The above table shows the PE ratio for BYD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average37.6x
RRR Red Rock Resorts
16.5x10.8%US$4.8b
LNW Light & Wonder
25.6x22.3%US$7.6b
SRAD Sportradar Group
80.6x34.3%US$5.0b
IGT International Game Technology
27.6x22.4%US$3.4b
BYD Boyd Gaming
12.6x5.1%US$6.3b

Price-To-Earnings vs Peers: BYD is good value based on its Price-To-Earnings Ratio (12.6x) compared to the peer average (37.6x).

Price to Earnings Ratio vs Industry

How does BYD's PE Ratio compare vs other companies in the US Hospitality Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
THRS.F Agility Real Estate
1.7xn/aUS$2.05m
No more companies available in this PE range
BYD 12.6xIndustry Avg. 23.7xNo. of Companies14PE01632486480+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BYD is good value based on its Price-To-Earnings Ratio (12.6x) compared to the US Hospitality industry average (23.5x).

Price to Earnings Ratio vs Fair Ratio

What is BYD's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BYD PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.6x
Fair PE Ratio19.6x

Price-To-Earnings vs Fair Ratio: BYD is good value based on its Price-To-Earnings Ratio (12.6x) compared to the estimated Fair Price-To-Earnings Ratio (19.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BYD forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$71.20
US$76.57
+7.5%
5.8%US$85.00US$69.00n/a14
Dec ’25US$73.85
US$74.79
+1.3%
5.6%US$82.00US$69.00n/a14
Nov ’25US$68.66
US$74.86
+9.0%
5.6%US$82.00US$69.00n/a14
Oct ’25US$63.90
US$70.50
+10.3%
5.4%US$78.00US$66.00n/a14
Sep ’25US$60.02
US$69.64
+16.0%
5.5%US$78.00US$66.00n/a14
Aug ’25US$57.78
US$69.64
+20.5%
5.5%US$78.00US$66.00n/a14
Jul ’25US$53.77
US$69.79
+29.8%
5.8%US$78.00US$65.00n/a14
Jun ’25US$53.32
US$69.79
+30.9%
5.8%US$78.00US$65.00n/a14
May ’25US$53.35
US$70.73
+32.6%
6.3%US$78.00US$65.00n/a14
Apr ’25US$67.67
US$76.44
+13.0%
5.8%US$82.00US$69.00n/a14
Mar ’25US$64.88
US$76.17
+17.4%
6.1%US$82.00US$69.00n/a12
Feb ’25US$64.49
US$74.08
+14.9%
7.4%US$84.00US$67.00n/a12
Jan ’25US$62.61
US$75.42
+20.5%
7.9%US$84.00US$66.00n/a12
Dec ’24US$61.03
US$75.33
+23.4%
7.3%US$84.00US$67.00US$73.8512
Nov ’24US$54.77
US$75.33
+37.5%
7.3%US$84.00US$67.00US$68.6612
Oct ’24US$60.83
US$80.08
+31.7%
4.2%US$85.00US$75.00US$63.9012
Sep ’24US$67.63
US$80.08
+18.4%
4.2%US$85.00US$75.00US$60.0212
Aug ’24US$67.97
US$80.00
+17.7%
4.2%US$85.00US$75.00US$57.7813
Jul ’24US$69.37
US$78.71
+13.5%
5.6%US$85.00US$69.00US$53.7714
Jun ’24US$64.33
US$78.43
+21.9%
6.5%US$85.00US$65.00US$53.3214
May ’24US$71.28
US$78.14
+9.6%
7.1%US$85.00US$65.00US$53.3514
Apr ’24US$64.12
US$73.23
+14.2%
8.9%US$81.00US$60.00US$67.6713
Mar ’24US$65.09
US$73.00
+12.2%
8.6%US$81.00US$60.00US$64.8814
Feb ’24US$62.35
US$69.29
+11.1%
10.6%US$82.00US$55.00US$64.4914
Jan ’24US$54.53
US$67.83
+24.4%
10.1%US$79.00US$54.00US$62.6112
Dec ’23US$60.87
US$67.62
+11.1%
9.8%US$79.00US$54.00US$61.0313

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/20 11:18
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Boyd Gaming Corporation is covered by 46 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
David BainAegis Capital Corporation
John StaszakArgus Research Company
Ishan MajumdarBaptista Research