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Boyd Gaming Piotroski F-Score

: 7 (As of Today)
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Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Boyd Gaming has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Boyd Gaming's Piotroski F-Score or its related term are showing as below:

BYD' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Boyd Gaming was 8. The lowest was 3. And the median was 6.


Boyd Gaming Piotroski F-Score Historical Data

The historical data trend for Boyd Gaming's Piotroski F-Score 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
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.00 6.00 8.00 6.00 7.00

Boyd Gaming Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Piotroski F-Score 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 7.00 8.00 7.00 8.00 7.00

Competitive Comparison

For the Resorts & Casinos subindustry, Boyd Gaming's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score Distribution

For the Travel & Leisure industry and Consumer Cyclical sector, Boyd Gaming's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Boyd Gaming's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* 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.

This Year (Jun22) TTM:Last Year (Jun21) TTM:
Net Income was 138.174 + 109.782 + 162.928 + 146.763 = $558 Mil.
Cash Flow from Operations was 278.374 + 232.695 + 233.709 + 222.503 = $967 Mil.
Revenue was 843.06 + 879.841 + 860.743 + 894.45 = $3,478 Mil.
Gross Profit was 485.998 + 494.379 + 483.852 + 504.632 = $1,969 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(6291.913 + 6500.117 + 6224.169 + 6250.42 + 6050.153) / 5 = $6263.3544 Mil.
Total Assets at the begining of this year (Jun21) was $6,292 Mil.
Long-Term Debt & Capital Lease Obligation was $3,645 Mil.
Total Current Assets was $418 Mil.
Total Current Liabilities was $535 Mil.
Net Income was 38.116 + 83.287 + 102.161 + 113.729 = $337 Mil.

Revenue was 652.238 + 635.868 + 753.307 + 893.602 = $2,935 Mil.
Gross Profit was 379.823 + 344.938 + 428.242 + 528.711 = $1,682 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(7436.015 + 6567.643 + 6558.948 + 6703.452 + 6291.913) / 5 = $6711.5942 Mil.
Total Assets at the begining of last year (Jun20) was $7,436 Mil.
Long-Term Debt & Capital Lease Obligation was $4,147 Mil.
Total Current Assets was $473 Mil.
Total Current Liabilities was $529 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Boyd Gaming's current Net Income (TTM) was 558. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Boyd Gaming's current Cash Flow from Operations (TTM) was 967. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jun21)
=557.647/6291.913
=0.08862917

ROA (Last Year)=Net Income/Total Assets (Jun20)
=337.293/7436.015
=0.04535938

Boyd Gaming's return on assets of this year was 0.08862917. Boyd Gaming's return on assets of last year was 0.04535938. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Boyd Gaming's current Net Income (TTM) was 558. Boyd Gaming's current Cash Flow from Operations (TTM) was 967. ==> 967 > 558 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=3645.224/6263.3544
=0.58199229

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=4146.777/6711.5942
=0.61785276

Boyd Gaming's gearing of this year was 0.58199229. Boyd Gaming's gearing of last year was 0.61785276. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Jun22)=Total Current Assets/Total Current Liabilities
=417.812/534.6
=0.78154134

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=472.824/528.908
=0.89396266

Boyd Gaming's current ratio of this year was 0.78154134. Boyd Gaming's current ratio of last year was 0.89396266. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Boyd Gaming's number of shares in issue this year was 110.259. Boyd Gaming's number of shares in issue last year was 114.04. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=1968.861/3478.094
=0.56607469

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1681.714/2935.015
=0.5729831

Boyd Gaming's gross margin of this year was 0.56607469. Boyd Gaming's gross margin of last year was 0.5729831. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jun21)
=3478.094/6291.913
=0.552788

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=2935.015/7436.015
=0.39470267

Boyd Gaming's asset turnover of this year was 0.552788. Boyd Gaming's asset turnover of last year was 0.39470267. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+0+1+0+1
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Boyd Gaming has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Boyd Gaming  (NYSE:BYD) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Boyd Gaming Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Boyd Gaming's Piotroski F-Score 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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