BYD
9/9 ScoreBoyd Gaming Corporation
Analysis Date: February 21, 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: 105.4%
High ROIC
Return on Invested Capital > 9%
Value: 12.0%
Cash Machine
FCF / Assets > 5%
Value: 5.9%
Fair Valuation
Earnings Yield > 3.5%
Value: 27.2%
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: 1.00x
Consistent Growth
5-Year Growth is Positive
Value: 2001.2%
Analysis Summary
This BYD analysis shows a business firing on all cylinders, with a robust return on equity and a strong moat that appears to be widening. The company is also prudently managing its debt and returning capital to shareholders, which are all good signs for long-term value creation. It's certainly a compelling picture for a patient investor.
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