Boyd Gaming (Boyd Gaming) EBIT : $924 Mil (TTM As of Dec. 2023)

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What is Boyd Gaming EBIT?

Boyd Gaming's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $156 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $924 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Boyd Gaming's annualized ROC % for the quarter that ended in Dec. 2023 was 14.25%. Boyd Gaming's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 18.75%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Boyd Gaming's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 10.86%.

Boyd Gaming EBIT Historical Data

The historical data trend for Boyd Gaming's EBIT 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 EBIT Chart

Boyd Gaming Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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439.59

59.47

803.38

980.06

924.15

Boyd Gaming Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT	Get a 7-Day Free Trial															266.97	302.92	246.22	219.49	155.53

Competitive Comparison of Boyd Gaming's EBIT

For the Resorts & Casinos subindustry, Boyd Gaming's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT 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's EV-to-EBIT Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Boyd Gaming's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Boyd Gaming's EV-to-EBIT falls into.

Boyd Gaming EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $924 Mil.

Boyd Gaming (NYSE:BYD) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Boyd Gaming's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	1033.404 * ( 1 - 18.2% )	/	( (5981.096	+	5886.953)	/ 2 )
=	845.324472	/	5934.0245
=	14.25 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	6311.611	-	444.686	-	( 269.155	-	max(0, 583.419	-	469.248	+	269.155	))
=	5981.096

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	6273.126	-	453.18	-	( 304.271	-	max(0, 596.322	-	529.315	+	304.271	))
=	5886.953

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Boyd Gaming's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	622.1	/	( ( (3298.657 + max(-245.816, 0))	+	(3335.847 + max(-231.644, 0)) )	/	2 )
=	622.1	/	( ( 3298.657	+	3335.847 )	/	2 )
=	622.1	/	3317.252
=	18.75 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(103.577	+	20.64	+	74.653)	-	(444.686	+	0	+	0)
=	-245.816

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(137.892	+	20.692	+	62.952)	-	(453.18	+	0	+	0)
=	-231.644

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Boyd Gaming's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	924.154	/	8512.447
	=	10.86 %

Boyd Gaming EBIT Related Terms

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Boyd Gaming (Boyd Gaming) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Boyd Gaming Corp (NYSE:BYD) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

BO5:Germany

Address

6465 South Rainbow Boulevard, Las Vegas, NV, USA, 89118

Website

https://www.boydgaming.com

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 and South. Midwest and 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

William S Boyd	director, 10 percent owner, officer: Co-Executive Chair	2950 SOUTH INDUSTRIAL ROAD, LAS VEGAS NV 89109
William R Boyd	director, officer: Vice President	C/O BOYD GAMING CORPORATION, 6465 S. RAINBOW BOULEVARD, LAS VEGAS NV 89118
Marianne Boyd Johnson	director, officer: Executive Vice President
Stephen S. Thompson	officer: Executive Vice President	3883 HOWARD HUGHES PARKWAY, NINTH FLOOR, LAS VEGAS NV 89169
Christine J. Spadafor	director	3883 HOWARD HUGHES PARKWAY, NINTH FLOOR, LAS VEGAS NV 89169
Keith Smith	director, officer: President & CEO
Ted Bogich	officer: Executive Vice President	3883 HOWARD HUGHES PARKWAY, NINTH FLOOR, LAS VEGAS NV 89169
Josh Hirsberg	officer: Exec. V.P., Treasurer & CFO	C/O BOYD GAMING CORPORATION, 3883 HOWARD HUGHES PARKWAY, NINTH FLOOR, LAS VEGAS NV 89169
Lori M. Nelson	officer: SVP Fin Ops and Reporting	6465 S. RAINBOW BOULEVARD, LAS VEGAS NV 89118
Veronica J Wilson	director	C/O BOYD GAMING, 2950 INDUSTRIAL RD, LAS VEGAS NV 89109
Uri Clinton	officer: EVP,General Counsel,Secretary	C/O MULTIMEDIA GAMES, INC., 206 WILD BASIN ROAD, BLDG. B, SUITE 400, AUSTIN TX 78746
Anthony D Mcduffie	officer: VP & Chief Accounting Officer	C/O BOYD GAMING CORPORATION, 6465 SOUTH RAINBOW BLVD, LAS VEGAS NV 89118
A. Randall Thoman	director	8360 S. DURANGO DR., LAS VEGAS NV 89113
John Robert Bailey	director	1106 PALMS AIRPORT DRIVE, LAS VEGAS NV 89119
Paul W Whetsell	director	4501 NORTH FAIRFAX DRIVE, SUITE 800, ARLINGTON VA 22203