BYD Valuation

Boyd Gaming Corp

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85.940

+3.62(4.397%)1D

Overview
Forecast
Valuation
Earnings

BYD Relative Valuation

BYD's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average, adjusted by weights. If the market price exceeds this fair value range, BYD is overvalued; if below, it's undervalued.

Historical Valuation

Boyd Gaming Corp (BYD) is now in the Undervalued zone, suggesting that its current forward PE ratio of 12.09 is considered Undervalued compared with the five-year average of 11.47. The fair price of Boyd Gaming Corp (BYD) is between 101.11 to 133.99 according to relative valuation methord. Compared to the current price of 85.94 USD , Boyd Gaming Corp is Undervalued By 15%.

Relative Value

Fair Zone

101.11-133.99

Current Price：85.94

15%

Undervalued

12.09

Trailing

Forward

8.84

EV/EBITDA

Boyd Gaming Corp. (BYD) has a current EV/EBITDA of 8.84. The 5-year average EV/EBITDA is 8.32. The thresholds are as follows: Strongly Undervalued below 6.42, Undervalued between 6.42 and 7.37, Fairly Valued between 9.28 and 7.37, Overvalued between 9.28 and 10.23, and Strongly Overvalued above 10.23. The current Forward EV/EBITDA of 8.84 falls within the Historic Trend Line -Fairly Valued range.

12.28

EV/EBIT

Boyd Gaming Corp. (BYD) has a current EV/EBIT of 12.28. The 5-year average EV/EBIT is 11.31. The thresholds are as follows: Strongly Undervalued below 7.52, Undervalued between 7.52 and 9.42, Fairly Valued between 13.20 and 9.42, Overvalued between 13.20 and 15.10, and Strongly Overvalued above 15.10. The current Forward EV/EBIT of 12.28 falls within the Historic Trend Line -Fairly Valued range.

1.82

Boyd Gaming Corp. (BYD) has a current PS of 1.82. The 5-year average PS is 1.71. The thresholds are as follows: Strongly Undervalued below 1.16, Undervalued between 1.16 and 1.44, Fairly Valued between 1.98 and 1.44, Overvalued between 1.98 and 2.25, and Strongly Overvalued above 2.25. The current Forward PS of 1.82 falls within the Historic Trend Line -Fairly Valued range.

8.12

P/OCF

Boyd Gaming Corp. (BYD) has a current P/OCF of 8.12. The 5-year average P/OCF is 7.14. The thresholds are as follows: Strongly Undervalued below 4.98, Undervalued between 4.98 and 6.06, Fairly Valued between 8.22 and 6.06, Overvalued between 8.22 and 9.30, and Strongly Overvalued above 9.30. The current Forward P/OCF of 8.12 falls within the Historic Trend Line -Fairly Valued range.

14.56

P/FCF

Boyd Gaming Corp. (BYD) has a current P/FCF of 14.56. The 5-year average P/FCF is 10.87. The thresholds are as follows: Strongly Undervalued below 6.55, Undervalued between 6.55 and 8.71, Fairly Valued between 13.03 and 8.71, Overvalued between 13.03 and 15.20, and Strongly Overvalued above 15.20. The current Forward P/FCF of 14.56 falls within the Overvalued range.

Boyd Gaming Corp (BYD) has a current Price-to-Book (P/B) ratio of 0.00. Compared to its 3-year average P/B ratio of 3.69 , the current P/B ratio is approximately -100.00% higher. Relative to its 5-year average P/B ratio of 4.05, the current P/B ratio is about -100.00% higher. Boyd Gaming Corp (BYD) has a Forward Free Cash Flow (FCF) yield of approximately 0.00%. Compared to its 3-year average FCF yield of 9.53%, the current FCF yield is approximately -100.00% lower. Relative to its 5-year average FCF yield of 8.67% , the current FCF yield is about -100.00% lower.

0.00

P/B

Median3y

3.69

Median5y

4.05

0.00

FCF Yield

Median3y

9.53

Median5y

8.67

Competitors Valuation Multiple

The average P/S ratio for BYD's competitors is 1.51, providing a benchmark for relative valuation. Boyd Gaming Corp Corp (BYD) exhibits a P/S ratio of 1.82, which is 19.88% above the industry average. Given its robust revenue growth of 6.87%, this premium appears unsustainable.

P/S

P/E

EV/EBITDA

EV/EBIT

P/S

Revenue Growth

Market Cap

Caesars Entertainment Inc

MGM Resorts International

Rush Street Interactive Inc

1.35

20.69%

3.49B

Performance Decomposition

Market capitalization of BYD increased by 41.91% over the past 1 year. The primary factor behind the change was an increase in P/E Change from 9.86 to 13.26.

The secondary factor is the Revenue Growth, contributed 6.87%to the performance.

Overall, the performance of BYD in the past 1 year is driven by P/E Change. Which is more unsustainable.

6.87%

967.51M → 1.03B

Revenue Growth

0.62%

14.45 → 14.54

Margin Expansion

34.42%

9.86 → 13.26

P/E Change

41.91%