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Boyd Gaming ROC (Joel Greenblatt) %

: 27.98% (As of Jun. 2022)
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Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Boyd Gaming's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2022 was 27.98%.

The historical rank and industry rank for Boyd Gaming's ROC (Joel Greenblatt) % or its related term are showing as below:

BYD' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -23.82   Med: 9.64   Max: 26.88
Current: 26.88

During the past 13 years, Boyd Gaming's highest ROC (Joel Greenblatt) % was 26.88%. The lowest was -23.82%. And the median was 9.64%.

BYD's ROC (Joel Greenblatt) % is ranked better than
79.88% of 830 companies
in the Travel & Leisure industry
Industry Median: 2.62 vs BYD: 26.88

Boyd Gaming's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -3.90% per year.


Boyd Gaming ROC (Joel Greenblatt) % Historical Data

The historical data trend for Boyd Gaming's ROC (Joel Greenblatt) % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Boyd Gaming Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
ROC (Joel Greenblatt) %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 13.38 13.67 13.90 1.68 23.86

Boyd Gaming Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
ROC (Joel Greenblatt) % Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 23.76 26.61 22.55 30.50 27.98

Competitive Comparison

For the Resorts & Casinos subindustry, Boyd Gaming's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Boyd Gaming ROC (Joel Greenblatt) % Distribution

For the Travel & Leisure industry and Consumer Cyclical sector, Boyd Gaming's ROC (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Boyd Gaming's ROC (Joel Greenblatt) % falls into.



Boyd Gaming ROC (Joel Greenblatt) % Calculation

Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:

ROC (Joel Greenblatt) %=EBIT/Average of (Net fixed Assets + Net Working Capital)

EBIT stands for Earnings Before Interest and Taxes.

Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.

GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.

Working Capital(Q: Mar. 2022 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(97.096 + 20.55 + 55.947) - (453.284 + 0 + 0)
=-279.691

Working Capital(Q: Jun. 2022 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(86.759 + 21.091 + 54.791) - (405.584 + 0 + 0)
=-242.943

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Boyd Gaming for the quarter that ended in Jun. 2022 can be restated as:

ROC (Joel Greenblatt) %(Q: Jun. 2022 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2022  Q: Jun. 2022
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=901.176/( ( (3238.422 + max(-279.691, 0)) + (3202.313 + max(-242.943, 0)) )/ 2 )
=901.176/( ( 3238.422 + 3202.313 )/ 2 )
=901.176/3220.3675
=27.98 %

Note: The EBIT data used here is four times the quarterly (Jun. 2022) EBIT data.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Boyd Gaming  (NYSE:BYD) ROC (Joel Greenblatt) % Explanation

The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.

Joel Greenblatt uses his definition of Return on Capital and Earnings Yield (Joel Greenblatt) % to rank companies.


Boyd Gaming ROC (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of Boyd Gaming's ROC (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


Boyd Gaming Business Description

Boyd Gaming logo
Traded in Other Exchanges
Address
6465 South Rainbow Boulevard, Las Vegas, NV, USA, 89118
Boyd Gaming Corp is a multi-jurisdictional gaming company. The company operates wholly owned gaming entertainment properties (casino space, slot machines, table games, and hotel rooms) in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. Its business segments are separated by geographical regions: Las Vegas Locals; Downtown Las Vegas; and Midwest & South. Midwest & South holds the largest number of entertainment properties, and it generates most sales for the company. Boyd generates most of its revenue from its gaming operations.
Executives
Nelson Lori M. officer: SVP Fin Ops and Reporting 6465 S. RAINBOW BOULEVARD LAS VEGAS NV 89118
Clinton Uri officer: EVP,General Counsel,Secretary C/O MULTIMEDIA GAMES, INC. 206 WILD BASIN ROAD, BLDG. B, SUITE 400 AUSTIN TX 78746
Bogich Ted officer: Executive Vice President 3883 HOWARD HUGHES PARKWAY, NINTH FLOOR LAS VEGAS NV 89169
Hirsberg Josh officer: Exec. V.P., Treasurer & CFO C/O BOYD GAMING CORPORATION 3883 HOWARD HUGHES PARKWAY, NINTH FLOOR LAS VEGAS NV 89169
Mcduffie Anthony D officer: VP & Chief Accounting Officer C/O BOYD GAMING CORPORATION 6465 SOUTH RAINBOW BLVD LAS VEGAS NV 89118
Boyd William S director, 10 percent owner, officer: Co-Executive Chair 2950 SOUTH INDUSTRIAL ROAD LAS VEGAS NV 89109
Thompson Stephen S. officer: Executive Vice President 3883 HOWARD HUGHES PARKWAY, NINTH FLOOR LAS VEGAS NV 89169
Boyd William R director, officer: Vice President
Smith Keith director, officer: President & CEO
Wilson Veronica J director C/O BOYD GAMING 2950 INDUSTRIAL RD LAS VEGAS NV 89109
Bailey John Robert director 1106 PALMS AIRPORT DRIVE LAS VEGAS NV 89119
Spadafor Christine J. director 3883 HOWARD HUGHES PARKWAY NINTH FLOOR LAS VEGAS NV 89169
Thoman A. Randall director 8360 S. DURANGO DR. LAS VEGAS NV 89113
Thomas Peter M director 2300 W. SAHARA AVENUE BOX ONE LAS VEGAS NV 89102
Whetsell Paul W director 4501 NORTH FAIRFAX DRIVE, SUITE 800 ARLINGTON VA 22203

Boyd Gaming Headlines

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