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Boyd GamingBYD -0.27%87 ROC (Joel Greenblatt) % is 22.47% as of Jun. 2026, which is 19% above its 10-year median of 18.88. GuruFocus rates BYD with a GF Score™ of 87/100 and a GF Value™ of $90.86 (Fairly Valued). The stock has 5 warning signs investors should review. Among 847 Travel & Leisure companies, Boyd Gaming ranks better than 87.37% on this metric.
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. 2026 was 22.47%.
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: 1.68 Med: 18.88 Max: 71.76
Current: 68.08
During the past 13 years, Boyd Gaming's highest ROC (Joel Greenblatt) % was 71.76%. The lowest was 1.68%. And the median was 18.88%.
BYD's ROC (Joel Greenblatt) % is ranked better than 87.37% of 847
companies
in the Travel & Leisure industry
Industry Median: 10.04
vs BYD: 68.08
Boyd Gaming's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 72.80% per year.
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.
Boyd Gaming ROC (Joel Greenblatt) % Historical Data
* Premium members only.
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.
BYD vs CZR, MTN, HGV: ROC (Joel Greenblatt) % 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) % vs Travel & Leisure Industry
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.
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:
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.
Note:
The EBIT data used here is four times the quarterly (Jun. 2026) 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.
What does a ROC (Joel Greenblatt) % of 22.47% mean?
Boyd Gaming (BYD) has a ROC (Joel Greenblatt) % of 22.47% as of Jun. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Boyd Gaming and its competitors. This is 19% above median its historical median of 18.88. Over the past decade, Boyd Gaming's ROC (Joel Greenblatt) % has ranged from 1.68 to 71.76. According to the industry distribution chart, Boyd Gaming ranks #107 out of 847 companies in the Travel & Leisure industry, placing it in the top 12.6%.
Is Boyd Gaming's ROC (Joel Greenblatt) % too high?
Boyd Gaming's current ROC (Joel Greenblatt) % of 22.47% is 19% above median its 10-year median of 18.88. Over the past 10 years, this metric has ranged from a low of 1.68 to a high of 71.76. The Travel & Leisure industry median ROC (Joel Greenblatt) % is 10.04. Boyd Gaming's value of 22.47% is 123.8% above this industry median. Based on the distribution chart, Boyd Gaming ranks #107 out of 847 companies in the Travel & Leisure industry, which is in the top quartile — a strong position relative to peers. Overall, Boyd Gaming has a GF Score™ of 87/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Boyd Gaming's ROC (Joel Greenblatt) % compare to CZR and MTN?
According to the Travel & Leisure industry distribution chart, Boyd Gaming ranks #107 out of 847 companies for ROC (Joel Greenblatt) %. This places Boyd Gaming in the top 13% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 10.04. Boyd Gaming's value of 22.47% is 123.8% above this benchmark. Historically, Boyd Gaming's own ROC (Joel Greenblatt) % has ranged from 1.68 to 71.76 over the past decade. While the company's 10-year median is 18.88 vs. the industry median of 10.04, Boyd Gaming has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a Travel & Leisure company?
The median ROC (Joel Greenblatt) % among Travel & Leisure companies is 10.04, based on 847 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Boyd Gaming's current ROC (Joel Greenblatt) % of 22.47% is 123.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Boyd Gaming and its competitors. For the Travel & Leisure industry, the median ROC (Joel Greenblatt) % is 10.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Boyd Gaming's current ROC (Joel Greenblatt) % is 22.47%, which is 19% above median its own 10-year median of 18.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Boyd Gaming stock overvalued right now?
Based on GuruFocus' analysis, Boyd Gaming (BYD) is currently considered Fairly Valued. The stock's GF Value™ is $90.86, compared to a current price of $84.83 — trading 6.6% below its estimated fair value. The current ROC (Joel Greenblatt) % is 22.47%, which is 19% above median its 10-year median of 18.88 and 123.8% above the Travel & Leisure industry median of 10.04. Boyd Gaming's overall GF Score™ is 87/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Boyd Gaming (BYD), the current ROC (Joel Greenblatt) % is 22.47% as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Boyd Gaming (BYD) Overvalued in 2026?
Based on GuruFocus' analysis, Boyd Gaming stock appears to be undervalued.
The current stock price of $84.83 is trading 6.6% below its estimated GF Value™ of $90.86.
GuruFocus considers Boyd Gaming to be Fairly Valued.
Key valuation signals for BYD:
ROC (Joel Greenblatt) %: 22.47% (19% above median its 10-year median of 18.88)
GF Value™: $90.86 vs. price of $84.83 (6.6% below fair value)
Industry Position: 123.8% above the Travel & Leisure median (#107 of 847)
No single metric tells the full story. See the BYD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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. Geographical regions separate its business segments: Las Vegas Locals, Downtown Las Vegas, Midwest and South, and Online. The Midwest and South hold the key number of entertainment properties and generate the majority of the company's revenue.
87GF Score
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