Boyd Gaming (BYD)
Market Price (6/6/2026): $87.89 | Market Cap: $6.7 BilSector: Consumer Discretionary | Industry: Casinos & Gaming
Boyd Gaming (BYD)
Market Price (6/6/2026): $87.89Market Cap: $6.7 BilSector: Consumer DiscretionaryIndustry: Casinos & Gaming
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 27%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 23% Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 20% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21% Stock buyback supportStock Buyback 3Y Total is 1.9 Bil Low stock price volatilityVol 12M is 27% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Digital Entertainment & Betting. Themes include Travel & Leisure Tech, Experiential Retail, Show more. | Trading close to highsDist 52W High is -1.6%, Dist 3Y High is -1.6% Weak multi-year price returns3Y Excs Rtn is -35% | Key risksBYD key risks include [1] a substantial debt load that imposes financial limitations and [2] the legal and reputational fallout from a recent data breach that resulted in multiple class-action lawsuits. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 27%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 23% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 20% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21% |
| Stock buyback supportStock Buyback 3Y Total is 1.9 Bil |
| Low stock price volatilityVol 12M is 27% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Digital Entertainment & Betting. Themes include Travel & Leisure Tech, Experiential Retail, Show more. |
| Trading close to highsDist 52W High is -1.6%, Dist 3Y High is -1.6% |
| Weak multi-year price returns3Y Excs Rtn is -35% |
| Key risksBYD key risks include [1] a substantial debt load that imposes financial limitations and [2] the legal and reputational fallout from a recent data breach that resulted in multiple class-action lawsuits. |
Qualitative Assessment
AI Analysis | Feedback
Boyd Gaming (BYD) stock has gained about 5% since 2/28/2026 because of the following key factors:
1. Share Repurchase Authorization: On April 23, 2026, Boyd Gaming's Board of Directors authorized a new $500 million share repurchase plan, signaling management's confidence in the company's valuation and commitment to returning capital to shareholders. This plan allows the company to repurchase up to 7.7% of its shares.
2. Positive Analyst Sentiment and Price Targets: While Boyd Gaming held a consensus "Hold" rating, analysts from several firms provided price targets indicating potential upside. As of June 1, 2026, the average price target from 14 Wall Street analysts was $92.08, representing a forecasted upside of 6.12% from the current price of $86.78. Additionally, 17 analysts polled by S&P Global had an average "Buy" rating and a target of $93.73.
Show more
Stock Movement Drivers
Fundamental Drivers
The 5.8% change in BYD stock from 2/28/2026 to 6/5/2026 was primarily driven by a 3.7% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 6052026 | Change |
|---|---|---|---|
| Stock Price ($) | 83.03 | 87.87 | 5.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,092 | 4,098 | 0.1% |
| Net Income Margin (%) | 45.0% | 44.8% | -0.5% |
| P/E Multiple | 3.5 | 3.7 | 3.7% |
| Shares Outstanding (Mil) | 79 | 77 | 2.4% |
| Cumulative Contribution | 5.8% |
Market Drivers
2/28/2026 to 6/5/2026| Return | Correlation | |
|---|---|---|
| BYD | 5.8% | |
| Market (SPY) | 7.8% | 33.3% |
| Sector (XLY) | -1.5% | 32.1% |
Fundamental Drivers
The 6.0% change in BYD stock from 11/30/2025 to 6/5/2026 was primarily driven by a 5.3% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 11302025 | 6052026 | Change |
|---|---|---|---|
| Stock Price ($) | 82.92 | 87.87 | 6.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,071 | 4,098 | 0.7% |
| Net Income Margin (%) | 46.0% | 44.8% | -2.6% |
| P/E Multiple | 3.6 | 3.7 | 2.6% |
| Shares Outstanding (Mil) | 81 | 77 | 5.3% |
| Cumulative Contribution | 6.0% |
Market Drivers
11/30/2025 to 6/5/2026| Return | Correlation | |
|---|---|---|
| BYD | 6.0% | |
| Market (SPY) | 8.5% | 32.8% |
| Sector (XLY) | -2.5% | 37.5% |
Fundamental Drivers
The 18.3% change in BYD stock from 5/31/2025 to 6/5/2026 was primarily driven by a 221.2% change in the company's Net Income Margin (%).| (LTM values as of) | 5312025 | 6052026 | Change |
|---|---|---|---|
| Stock Price ($) | 74.29 | 87.87 | 18.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,961 | 4,098 | 3.4% |
| Net Income Margin (%) | 14.0% | 44.8% | 221.2% |
| P/E Multiple | 11.4 | 3.7 | -67.9% |
| Shares Outstanding (Mil) | 85 | 77 | 10.9% |
| Cumulative Contribution | 18.3% |
Market Drivers
5/31/2025 to 6/5/2026| Return | Correlation | |
|---|---|---|
| BYD | 18.3% | |
| Market (SPY) | 26.6% | 33.9% |
| Sector (XLY) | 8.3% | 39.2% |
Fundamental Drivers
The 42.1% change in BYD stock from 5/31/2023 to 6/5/2026 was primarily driven by a 142.6% change in the company's Net Income Margin (%).| (LTM values as of) | 5312023 | 6052026 | Change |
|---|---|---|---|
| Stock Price ($) | 61.84 | 87.87 | 42.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,659 | 4,098 | 12.0% |
| Net Income Margin (%) | 18.5% | 44.8% | 142.6% |
| P/E Multiple | 9.5 | 3.7 | -61.3% |
| Shares Outstanding (Mil) | 104 | 77 | 35.0% |
| Cumulative Contribution | 42.1% |
Market Drivers
5/31/2023 to 6/5/2026| Return | Correlation | |
|---|---|---|
| BYD | 42.1% | |
| Market (SPY) | 83.4% | 49.9% |
| Sector (XLY) | 55.3% | 51.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BYD Return | 53% | -16% | 16% | 17% | 19% | 4% | 115% |
| Peers Return | 27% | -30% | 16% | -18% | 6% | 14% | 3% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| BYD Win Rate | 67% | 33% | 50% | 67% | 75% | 33% | |
| Peers Win Rate | 53% | 37% | 53% | 43% | 60% | 67% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 67% | |
Max Drawdowns [4] | |||||||
| BYD Max Drawdown | -25% | -35% | -26% | -26% | -23% | -13% | |
| Peers Max Drawdown | -37% | -49% | -34% | -33% | -37% | -21% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MGM, CZR, PENN, WYNN, RRR. See BYD Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/5/2026 (YTD)
How Low Can It Go
| Event | BYD | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.3% | -18.8% |
| % Gain to Breakeven | 30.4% | 23.1% |
| Time to Breakeven | 84 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -24.8% | -9.5% |
| % Gain to Breakeven | 32.9% | 10.5% |
| Time to Breakeven | 369 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -10.7% | -6.7% |
| % Gain to Breakeven | 12.0% | 7.1% |
| Time to Breakeven | 35 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -28.4% | -24.5% |
| % Gain to Breakeven | 39.7% | 32.4% |
| Time to Breakeven | 130 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -77.0% | -33.7% |
| % Gain to Breakeven | 334.8% | 50.9% |
| Time to Breakeven | 211 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -43.4% | -19.2% |
| % Gain to Breakeven | 76.8% | 23.8% |
| Time to Breakeven | 421 days | 105 days |
In The Past
Boyd Gaming's stock fell -23.3% during the 2025 US Tariff Shock. Such a loss loss requires a 30.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | BYD | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.3% | -18.8% |
| % Gain to Breakeven | 30.4% | 23.1% |
| Time to Breakeven | 84 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -24.8% | -9.5% |
| % Gain to Breakeven | 32.9% | 10.5% |
| Time to Breakeven | 369 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -28.4% | -24.5% |
| % Gain to Breakeven | 39.7% | 32.4% |
| Time to Breakeven | 130 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -77.0% | -33.7% |
| % Gain to Breakeven | 334.8% | 50.9% |
| Time to Breakeven | 211 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -43.4% | -19.2% |
| % Gain to Breakeven | 76.8% | 23.8% |
| Time to Breakeven | 421 days | 105 days |
| 2013 Taper Tantrum | ||
| % Loss | -22.4% | -0.2% |
| % Gain to Breakeven | 28.9% | 0.2% |
| Time to Breakeven | 29 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -52.0% | -17.9% |
| % Gain to Breakeven | 108.5% | 21.8% |
| Time to Breakeven | 123 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -38.1% | -15.4% |
| % Gain to Breakeven | 61.5% | 18.2% |
| Time to Breakeven | 202 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -91.3% | -53.4% |
| % Gain to Breakeven | 1055.8% | 114.4% |
| Time to Breakeven | 3315 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -25.9% | -8.6% |
| % Gain to Breakeven | 34.9% | 9.5% |
| Time to Breakeven | 4894 days | 47 days |
In The Past
Boyd Gaming's stock fell -23.3% during the 2025 US Tariff Shock. Such a loss loss requires a 30.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Boyd Gaming (BYD)
AI Analysis | Feedback
1. MGM Resorts or Caesars Entertainment for regional and local casinos.
2. The multi-state casino equivalent of a major hotel chain like Marriott or Hilton.
AI Analysis | Feedback
```html- Gaming Entertainment: Boyd Gaming operates casinos featuring various games such as slot machines, table games, and sports betting.
- Hospitality & Entertainment Services: The company's gaming properties often include ancillary services like hotels, dining, and other entertainment options for guests.
- Travel Agency Services: Boyd Gaming owns and operates a travel agency, providing travel-related services to customers.
AI Analysis | Feedback
Boyd Gaming (BYD) primarily sells its services directly to individual customers rather than other businesses. Based on the company's operations as a multi-jurisdictional gaming company operating casinos and entertainment properties, its major customer categories include:
- Las Vegas Locals: Residents of the Las Vegas metropolitan area who frequent Boyd Gaming's local properties for gaming, dining, and entertainment.
- Tourists and Visitors to Las Vegas: Individuals traveling to Las Vegas for leisure, entertainment, and gaming, particularly those drawn to the Downtown Las Vegas area where Boyd Gaming operates properties.
- Regional Gaming & Entertainment Seekers: Individuals residing in or traveling to the various states (Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania) where Boyd Gaming operates its Midwest & South properties, seeking entertainment, gaming, dining, and lodging experiences.
AI Analysis | Feedback
International Game Technology (IGT)
Light & Wonder (LNW)
Everi Holdings (EVRI)
AI Analysis | Feedback
Keith Smith, President and Chief Executive Officer
An industry veteran with over 30 years of gaming experience, Keith Smith first joined Boyd Gaming Corporation as Corporate Controller in 1990. He advanced through various executive roles, including Executive Vice President of Operations in 1998, Chief Operating Officer in 2001, and President in 2005, before assuming the role of Chief Executive Officer in January 2008. Smith also serves on the Board of Directors of regional airline operator SkyWest Inc. and previously held positions as Chairman of the Los Angeles Branch of the Federal Reserve Bank of San Francisco, Chairman of the American Gaming Association, and Chairman of the Nevada Resort Association.
Josh Hirsberg, Executive Vice President, Chief Financial Officer and Treasurer
Josh Hirsberg joined Boyd Gaming in January 2008. Prior to his tenure at Boyd Gaming, he served as Chief Financial Officer for EdgeStar Partners, a real estate acquisition and development company. Hirsberg also brings extensive experience from holding senior-level finance positions at other publicly-traded gaming companies, including Caesars Entertainment and Harrah's Entertainment.
Marianne Boyd Johnson, Chairman of the Board of Directors
Marianne Boyd Johnson has a long history with Boyd Gaming, serving as a director since 1990. She became Chairman of the Board of Directors in January 2026, having previously held positions as Executive Chairman since 2023, Co-Chair of the Board since 2021, and Vice Chairman of the Board from 2001 to 2021. Johnson also served as Executive Vice President of the Company from 2008 to 2023 and held various operational positions within the Company for 15 years, including Chief Diversity Officer.
Theodore Bogich, Chief Operating Officer
Theodore Bogich was promoted to Chief Operating Officer in December 2023. He joined Boyd Gaming in 2004, initially serving as Vice President and General Manager of Sam's Town Tunica.
Stephen S. Thompson, Chief Administrative Officer
Stephen S. Thompson was promoted to Chief Administrative Officer in December 2023. He has held numerous executive positions within Boyd Gaming since joining the Company in 1983, including Executive Vice President, Operations for the Nevada region.
AI Analysis | Feedback
Here are the key risks to Boyd Gaming (BYD):Key Risks to Boyd Gaming (BYD)
- Economic Sensitivity and Declining Consumer Spending: Boyd Gaming's business is highly susceptible to reductions in discretionary consumer spending, which can be triggered by inflation, economic downturns, and other factors. The company has faced ongoing demand challenges, with projected sales declines, directly impacting its revenue growth and operational performance.
- Information Technology Risks and Cybersecurity Breaches: The company's operations are heavily reliant on its information technology systems. Any failure to maintain system integrity, comply with data security regulations, or respond effectively to cybersecurity incidents can result in significant financial losses, legal liabilities, and reputational damage. Boyd Gaming has recently disclosed a cybersecurity breach that led to multiple federal lawsuits and compromised sensitive personal data, highlighting the severity of this risk.
- Intense Competition and Rising Operational Expenses: Boyd Gaming operates in a highly competitive gaming industry, which can put pressure on its market share and profitability. Additionally, the company is contending with escalating operational costs, including those related to labor, utilities, and insurance, which further challenge its ability to maintain profit margins.
AI Analysis | Feedback
The increasing legalization and adoption of online casino gaming (iGaming) and online sports betting in various states poses a clear emerging threat. This trend offers consumers convenient alternatives to visiting physical casinos, potentially reducing foot traffic, gaming volume, and ancillary spending at Boyd Gaming's traditional brick-and-mortar properties. While Boyd Gaming participates in the online market, widespread adoption of online platforms could shift consumer preferences and capital allocation away from physical infrastructure, challenging the traditional casino business model.
AI Analysis | Feedback
Boyd Gaming (BYD) primarily operates gaming entertainment properties across several U.S. states. The addressable markets for their main products and services, focused on commercial casino gaming revenue, are as follows:
- Nevada (Las Vegas Locals, Downtown Las Vegas): Nevada's total gaming revenue reached approximately $15.8 billion in 2025. More specifically, Downtown Las Vegas posted $63.2 million in gaming revenue in August 2025.
- Illinois: The statewide commercial casino gaming revenue in Illinois was a record $2.92 billion in 2024. Calendar year 2025 casino gross gaming revenue (GGR) for the state reached $1.94 billion.
- Indiana: Total statewide commercial casino gaming revenue in Indiana was $2.94 billion in 2024. For the 12-month period ending July 2025, commercial casinos in Indiana generated $3 billion in adjusted gross receipts (AGR).
- Iowa: Iowa's gambling market, encompassing retail casinos, sports betting, and lottery, generates over $2 billion annually. Casinos alone posted approximately $1.8 billion in Adjusted Gross Revenue (AGR) in 2025. In fiscal year 2024, state-regulated casinos reported a combined AGR of about $1.72 billion.
- Kansas: The total gaming ecosystem in Kansas is a billion-dollar-plus industry, with retail casino contributions exceeding $1.1 billion in cumulative receipts through 2025. For the first nine months of 2024, gambling revenue in the state reached $302 million.
- Louisiana: The state's 24 physical casinos (including riverboats, land-based, and racinos) reported over $2.5 billion in annual adjusted gross revenue (AGR) in 2025.
- Mississippi: Mississippi's 26 commercial casinos generated total gaming revenue of $2.43 billion in 2024 and approximately $2.43 billion in adjusted gross gaming revenue (AGGR) in 2025.
- Missouri: Null
- Ohio: Ohio's 11 physical gaming facilities (4 casinos and 7 racinos) generated approximately $2.3 billion in annual revenue in 2025. In 2023, Ohio's casino revenue, including sports betting, was $3.3 billion.
- Pennsylvania: Pennsylvania's total gaming revenue reached $6.79 billion in 2025, positioning it as the second-largest gaming market in the United States by revenue. Land-based casino gaming revenue in Pennsylvania was $3.38 billion in 2024.
AI Analysis | Feedback
Boyd Gaming (BYD) is expected to drive future revenue growth over the next two to three years through several strategic initiatives across its diverse portfolio.
- Digital Gaming Expansion: Boyd Gaming is actively expanding its online gaming presence, with its digital business showing significant year-over-year growth. This includes the expansion of its iGaming through strategic acquisitions, such as Resorts Digital in September 2024, and continued market-access agreements with FanDuel, extended through 2038. The online segment is projected to generate substantial operating income and Adjusted EBITDAR in the coming years.
- New Casino Developments and Market Expansion: The company is pursuing new developments to expand its physical footprint. Key projects include the transformation of Jokers Wild into Cadence Crossing in Henderson, Nevada, expected to open by late March 2026. Additionally, a $750 million hotel-casino project in Norfolk, Virginia, is slated for a late 2027 opening, targeting an underserved gaming market. Boyd Gaming also plans to redevelop the Par-A-Dice riverboat casino in Central Illinois, with construction anticipated to begin in early 2026, pending regulatory approvals.
- Property Enhancements and Renovations: Boyd Gaming has committed approximately $650 million to a capital building program for renovations and new developments across its existing properties. This investment aims to modernize assets and create new entertainment destinations. Notable projects include a multi-year renovation of the Suncoast Hotel & Casino in Las Vegas, featuring a revamped casino floor by late 2025, a new sportsbook and high-limit room opened in 2024, and expanded bingo and meeting spaces. Similar hotel room projects are underway at properties like IP, Valley Forge, and The Orleans.
- Growth in Core and Retail Customers: The company consistently reports strong engagement from its core customers and improving trends among retail players across its Las Vegas Locals and Midwest & South segments. Ongoing property investments and marketing strategies are focused on attracting and retaining these customer bases, thereby driving consistent gaming and non-gaming revenue.
- Management Fee Revenue from Managed Properties: The managed Sky River Casino in Northern California continues to be a significant contributor to Boyd Gaming's revenue through management fees. This segment has demonstrated strong performance and is undergoing a major expansion, further bolstering its contribution to the company's overall financial health and growth.
AI Analysis | Feedback
Share Repurchases
- Boyd Gaming authorized an additional $500 million for its share repurchase program in December 2024, increasing the total available repurchase authority to approximately $843 million as of September 30, 2024.
- The company repurchased $202 million in stock and aims to maintain quarterly repurchases of $150 million.
- In 2025, Boyd Gaming repurchased $778 million in shares, and in 2023, it returned over $475 million to shareholders, including $100 million in share repurchases during the fourth quarter.
Share Issuance
- No significant share issuances have been reported for Boyd Gaming within the last 3-5 years.
Inbound Investments
- No large inbound investments by third parties in Boyd Gaming were identified within the last 3-5 years.
Outbound Investments
- Boyd Gaming entered into a definitive agreement to sell its 5% equity interest in FanDuel Group to Flutter Entertainment plc for $1.755 billion, with the transaction expected to close in the third quarter of 2025, and proceeds intended for debt reduction.
- The company also agreed to sell Sam's Town Hotel & Casino in Shreveport, Louisiana, to Bally's Corporation, a transaction anticipated to close in the third quarter of 2026.
Capital Expenditures
- Boyd Gaming plans significant capital expenditures ranging from $650 million to $700 million for 2026, encompassing major renovations, relocations, and potential mergers and acquisitions.
- Key capital projects for 2026 include replacing Jokers Wild with Cadence Crossing ($75 million), relocating Par-A-Dice to East Peoria (approximately $160 million), renovating hotel rooms at IP Biloxi and Orleans, and continuing construction on the Norfolk resort ($250-$300 million spent in 2026 towards a 2027 opening).
- Annual capital expenditures were $673.215 million in 2025, $400.4 million in 2024, and $373.95 million in 2023.
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 52.45 |
| Mkt Cap | 6.4 |
| Rev LTM | 7,181 |
| Op Inc LTM | 1,018 |
| FCF LTM | 373 |
| FCF 3Y Avg | 343 |
| CFO LTM | 1,071 |
| CFO 3Y Avg | 1,119 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.6% |
| Rev Chg 3Y Avg | 5.0% |
| Rev Chg Q | 3.4% |
| QoQ Delta Rev Chg LTM | 0.8% |
| Op Inc Chg LTM | -5.5% |
| Op Inc Chg 3Y Avg | 2.7% |
| Op Mgn LTM | 17.5% |
| Op Mgn 3Y Avg | 18.8% |
| QoQ Delta Op Mgn LTM | -0.4% |
| CFO/Rev LTM | 16.6% |
| CFO/Rev 3Y Avg | 16.7% |
| FCF/Rev LTM | 6.8% |
| FCF/Rev 3Y Avg | 7.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 6.4 |
| P/S | 1.1 |
| P/Op Inc | 8.1 |
| P/EBIT | 4.4 |
| P/E | 10.8 |
| P/CFO | 5.1 |
| Total Yield | 3.3% |
| Dividend Yield | 0.1% |
| FCF Yield 3Y Avg | 5.8% |
| D/E | 1.9 |
| Net D/E | 1.7 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 6.8% |
| 3M Rtn | 10.3% |
| 6M Rtn | 17.4% |
| 12M Rtn | 21.8% |
| 3Y Rtn | 9.9% |
| 1M Excs Rtn | 6.6% |
| 3M Excs Rtn | 0.7% |
| 6M Excs Rtn | 7.7% |
| 12M Excs Rtn | -2.3% |
| 3Y Excs Rtn | -61.6% |
Comparison Analyses
Price Behavior
| Market Price | $87.87 | |
| Market Cap ($ Bil) | 6.7 | |
| First Trading Date | 10/18/1993 | |
| Distance from 52W High | -1.6% | |
| 50 Days | 200 Days | |
| DMA Price | $84.13 | $83.50 |
| DMA Trend | indeterminate | indeterminate |
| Distance from DMA | 4.4% | 5.2% |
| 3M | 1YR | |
| Volatility | 32.1% | 27.1% |
| Downside Capture | 5.59 | 57.71 |
| Upside Capture | 38.43 | 64.54 |
| Correlation (SPY) | 33.0% | 34.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.82 | 0.73 | 0.80 | 0.78 | 0.79 | 0.94 |
| Up Beta | 2.80 | 1.55 | 1.22 | 0.86 | 0.86 | 0.98 |
| Down Beta | 1.11 | 0.91 | 1.93 | 1.73 | 1.15 | 1.02 |
| Up Capture | -34% | 6% | 21% | 31% | 48% | 57% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 9 | 19 | 30 | 58 | 123 | 391 |
| Down Capture | 80% | 17% | 41% | 53% | 73% | 97% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 10 | 21 | 32 | 65 | 125 | 357 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BYD | |
|---|---|---|---|---|
| BYD | 20.4% | 27.1% | 0.66 | - |
| Sector ETF (XLY) | 7.8% | 18.3% | 0.27 | 39.1% |
| Equity (SPY) | 25.3% | 12.1% | 1.57 | 33.9% |
| Gold (GLD) | 27.6% | 26.9% | 0.88 | -2.5% |
| Commodities (DBC) | 36.9% | 19.0% | 1.52 | -15.9% |
| Real Estate (VNQ) | 12.5% | 13.3% | 0.63 | 31.1% |
| Bitcoin (BTCUSD) | -39.7% | 42.2% | -1.08 | 15.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BYD | |
|---|---|---|---|---|
| BYD | 7.4% | 31.8% | 0.27 | - |
| Sector ETF (XLY) | 6.7% | 23.8% | 0.24 | 57.7% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 56.4% |
| Gold (GLD) | 17.3% | 18.1% | 0.78 | 2.0% |
| Commodities (DBC) | 9.5% | 19.4% | 0.38 | 10.4% |
| Real Estate (VNQ) | 3.2% | 18.8% | 0.07 | 47.5% |
| Bitcoin (BTCUSD) | 12.1% | 54.6% | 0.42 | 24.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BYD | |
|---|---|---|---|---|
| BYD | 17.7% | 43.2% | 0.53 | - |
| Sector ETF (XLY) | 12.5% | 22.0% | 0.52 | 59.7% |
| Equity (SPY) | 15.3% | 17.9% | 0.73 | 58.9% |
| Gold (GLD) | 13.0% | 16.0% | 0.67 | 1.8% |
| Commodities (DBC) | 7.1% | 18.0% | 0.32 | 21.7% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.24 | 51.3% |
| Bitcoin (BTCUSD) | 63.9% | 66.9% | 1.03 | 19.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/23/2026 | -5.9% | -2.5% | -11.0% |
| 2/5/2026 | -0.5% | -1.8% | -3.8% |
| 10/23/2025 | -7.3% | -8.9% | -5.0% |
| 7/24/2025 | 4.4% | 3.1% | 4.1% |
| 4/24/2025 | 4.3% | 4.7% | 10.6% |
| 2/6/2025 | -1.7% | -0.6% | -15.6% |
| 10/24/2024 | 7.9% | 7.7% | 12.5% |
| 7/25/2024 | 4.3% | -1.3% | 2.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 10 | 12 |
| # Negative | 11 | 14 | 12 |
| Median Positive | 4.3% | 5.9% | 8.9% |
| Median Negative | -3.6% | -2.2% | -7.0% |
| Max Positive | 11.0% | 18.8% | 18.8% |
| Max Negative | -15.4% | -13.9% | -17.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/20/2026 | 10-K |
| 09/30/2025 | 10/31/2025 | 10-Q |
| 06/30/2025 | 07/30/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 02/21/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/26/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
Insider Activity
Updated 6/4/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Smith, Keith | President and CEO | Direct | Sell | 6042026 | 85.90 | 100,000 | 8,590,000 | 85,640,668 | Form |
| 2 | Spadafor, Christine J | Direct | Sell | 5142026 | 80.91 | 1,237 | 100,086 | 708,529 | Form | |
| 3 | Johnson, Marianne Boyd | Chairman | Trust* | Sell | 5052026 | 84.03 | 62,914 | 5,286,663 | 135,272,166 | Form |
| 4 | Johnson, Marianne Boyd | Chairman | Trust* | Sell | 5052026 | 85.27 | 37,086 | 3,162,323 | 142,633,005 | Form |
| 5 | Thompson, Stephen S | Chief Administrative Officer | Direct | Sell | 3022026 | 83.59 | 19,530 | 1,632,513 | 1,839,732 | Form |
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Casinos & Gaming Resources |
| Casino.org News |
| Global Gaming Business |
| CDC Gaming Reports |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.