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Boyd Gaming BYD

Boyd Gaming scores average on business quality (5.1 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$68.93Oct 9, 2026
Business qualityAverage
Next earningsOct 22, 2026, after the close
Insiders, 90 daysSelling

Why it matters

  1. What Boyd Gaming does

    Boyd Gaming operates regional casinos and entertainment venues, collecting gaming and hospitality revenue primarily from middle-market consumers across US local markets. The company is advancing regional gaming loyalty programs to protect customer share in saturated markets.

  2. What it does best

    Boyd extracts superior operating returns through localized geographic clustering, posting an operating margin of 18.7% that outpaces peers like DraftKings at -2.9%. This density creates local marketing scale that pure-play digital operators struggle to match without heavy ad spending.

  3. The main risk

    Consumer discretionary tightening in regional markets threatens visitation volume, risking the high fixed-cost leverage that supports its 70.5% return on equity.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityFair

Operating margin stands at 18.7% while free cash flow margin turned negative, showing that strong accounting profits are currently tied up in capital outlays rather than immediate cash generation.

MoatFair

Regional property clustering locks in local consumer loyalty, reflected in an operating margin sitting in the sector's top quartile at the 75th percentile, though physical footprints limit expansion speed.

GrowthSlow

Revenue growth crawls at 4.1% annually, reflecting a mature regional gaming footprint that is decelerating compared to its historical multi-year expansion rate.

Financial healthFair

Debt-to-equity sits at 0.8 with interest coverage at 6.5x, while free cash flow dropped to negative $9.0M after capital expenditures and buybacks, turning the balance sheet softer.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

2 sold $1.1M outside pre-planned sales.

Our sealed record on BYD

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is BYD a good business?

Boyd Gaming scores average on the Cluenex quality check (5.1 of 10), measured against its own industry. Profitability is fair, moat fair, growth slow and financial health fair.

Are insiders buying BYD?

In the last 90 days of SEC Form 4 filings: 2 sold $1.1M outside pre-planned sales.

When does BYD report earnings?

Oct 22, 2026, after the close.

For members

See BYD today

  • Today's verdict on BYD, and why
  • Fair value with cautious, base and optimistic cases
  • The exact price that would change the verdict
  • Which stocks each signal names, the night it fires
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Cite this page: Cluenex, “Boyd Gaming (BYD)”, https://cluenex.com/stocks/byd/, data as of Oct 10, 2026.