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BYD

9/9 Score

Boyd Gaming Corporation

Analysis Date: March 13, 2026

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 December 31, 2021, the company operated 28 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.

Buffettology Criteria

All 9 of 9 criteria passed

  • High ROE

    Return on Equity > 12%

    Value: 91.9%

  • High ROIC

    Return on Invested Capital > 9%

    Value: 11.6%

  • Cash Machine

    FCF / Assets > 5%

    Value: 0.06

  • Fair Valuation

    Earnings Yield > 3.5%

    Value: 28.7%

  • Share Buybacks

    Share Count is Dropping

    Value: -12.4%

  • Defensible Moat

    Gross Profit Margin > 40%

    Value: 42.1%

  • Simple Business

    Not in a speculative sector (e.g., Biotech)

    Value: Consumer Cyclical

  • Conservative Debt

    Debt to Equity < 1.5

    Value: 1.25x

  • Consistent Growth

    5-Year Growth is Positive

    Value: 20.0%

Latest Posts

Boyd Gaming's 107% ROE Tells a Bigger Story — A Perfect 9/9 Buffett Score

February 4, 2026

A regional casino operator with a perfect Buffett Score, a $1.75 billion FanDuel windfall, and 107% return on equity. Boyd Gaming might be the quality stock hiding in plain sight.

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