Boyd Gaming Corporation

NYSE:BYD Stock Report

Market Cap: US$6.4b

Boyd Gaming Future Growth

Future criteria checks 1/6

Boyd Gaming's earnings are forecast to decline at 69.4% per annum while its annual revenue is expected to grow at 2.5% per year. EPS is expected to decline by 59.3% per annum. Return on equity is forecast to be 20.8% in 3 years.

Key information

-69.4%

Earnings growth rate

-59.28%

EPS growth rate

Hospitality earnings growth18.4%
Revenue growth rate2.5%
Future return on equity20.75%
Analyst coverage

Good

Last updated03 Jun 2026

Recent future growth updates

Recent updates

Narrative Update • Jun 06

BYD: Capital Returns And Projects Balance Caesars Optionality With Fair Value Risks

The analyst price target for Boyd Gaming has been adjusted slightly lower to about $93.73 from $94, as analysts balance cautious near term views on catalysts with expectations around Las Vegas Locals EBITDA potential, possible Caesars related asset opportunities, and what they see as an underappreciated growth pipeline and capital return profile. Analyst Commentary Recent research on Boyd Gaming reflects a split view, with some firms leaning positive on longer term growth and returns, while others focus on limited near term catalysts and trim price targets.
Narrative Update • May 19

BYD: Capital Returns And Fair Value Repricing Will Drive Future Upside

Analysts have made a small upward adjustment to Boyd Gaming's fair value estimate to $94.00, reflecting mixed revisions to price targets and updated expectations for the discount rate, modest revenue growth, and slightly softer margins and P/E assumptions. Analyst Commentary Recent Street research on Boyd Gaming reflects a mixed setup, with some analysts trimming targets or ratings and others making modest upward adjustments.
Analysis Article • May 09

Statutory Earnings May Not Be The Best Way To Understand Boyd Gaming's (NYSE:BYD) True Position

We didn't see Boyd Gaming Corporation's ( NYSE:BYD ) stock surge when it reported robust earnings recently. We looked...
Narrative Update • May 01

BYD: Execution And Capital Returns Will Balance Mixed Views On Future Repricing

Analysts have adjusted their average fair value estimate for Boyd Gaming, reducing it by about $0.87 to $93.93. This change reflects a combination of modest price target cuts and increases as they reassess near term catalysts, margin assumptions, and the appropriate P/E multiple.
Seeking Alpha • Apr 25

Boyd Gaming Q1 Results: A Rare But Non-Threatening Double Miss

Summary Boyd Gaming Corporation reported a rare double miss in Q1. Softness in Las Vegas caused BYD's miss. Despite stabilizing tourism trends, the company's local and downtown casinos performed weaker than in 2025. BYD's performance in the Midwest & South remained strong, online earnings remained stable sequentially, and managed casinos boosted earnings. The market seems to undermine BYD's ongoing CapEx projects. I estimate 46% upside to $130.1. Read the full article on Seeking Alpha
Narrative Update • Apr 17

BYD: Recent Execution And Repurchases Will Support Future Repricing Despite Regulatory Scrutiny

The blended analyst price target for Boyd Gaming has shifted slightly higher to about $94.80, as analysts factor in unchanged fair value estimates, modest adjustments to discount rates and growth assumptions, and a mix of recent price target increases and reductions across the Street. Analyst Commentary Recent Street research around Boyd Gaming reflects a mix of incremental price target raises and cuts, which feeds into the modestly higher blended target around $94.80.
Narrative Update • Apr 01

BYD: Digital Expansion And Repurchases Will Support Future Repricing Despite Prediction Scrutiny

Narrative Update The average analyst price target for Boyd Gaming has shifted slightly, moving by $1 as firms fine tune their views based on updated sector previews, expectations for Las Vegas recovery, and outlooks for digital gaming and sports prediction clarity. Analyst Commentary Recent research on Boyd Gaming points to a mixed but generally constructive tone, with several firms fine tuning price targets in both directions.
Narrative Update • Mar 17

BYD: Digital Expansion And Share Repurchases Will Support Future Repricing

Narrative Update Boyd Gaming's average analyst price target has seen only a modest adjustment, with a net $1 move reflecting a mix of small upward and downward revisions as analysts balance recent sector headwinds with ongoing expectations for both land-based and digital gaming performance. Analyst Commentary Recent research on Boyd Gaming points to a split view, with some analysts lifting price targets and others trimming them, as they weigh prospects for land-based and digital gaming against sector specific risks.
Narrative Update • Mar 03

BYD: Digital Expansion And Share Repurchases Will Drive Future Repricing

Analysts made a small downward tweak to their Boyd Gaming price target, trimming it by $1 as they factor in slightly higher discount rates and a lower assumed future P/E. This adjustment is partly offset by steady fair value, revenue growth, and margin assumptions, as well as a balanced mix of recent target increases and decreases across the Street.
Narrative Update • Feb 16

BYD: Digital Upside And Share Repurchases Will Shape Future Repricing

Analysts have nudged their average price target on Boyd Gaming slightly lower by about $1. This reflects a mix of modest reductions from firms like Morgan Stanley, Susquehanna, and Wells Fargo, partly offset by recent increases from Stifel, Mizuho, and Truist that highlight differing views on future revenue growth, profitability, and appropriate P/E levels.
Narrative Update • Feb 02

BYD: Digital And Land Based Mix Will Shape Future Repricing

Analysts have nudged their price targets on Boyd Gaming higher, with recent US$1 to US$10 upward revisions. These changes are supported by assumptions of steadier revenue growth, a slightly higher discount rate, and a modestly adjusted future P/E and profit margin profile.
Narrative Update • Jan 19

BYD: Digital Uncertainty And Buybacks Will Shape Future Sector Repricing

Narrative Update: Boyd Gaming The analyst price target for Boyd Gaming has moved higher by about US$2, as analysts factor in slightly stronger fair value assumptions along with updated views on growth, margins and future P/E levels informed by recent sector research and company specific commentary. Analyst Commentary Recent Street research on Boyd Gaming highlights a mix of optimism and caution as analysts update price targets and reassess the balance between land based casinos and digital gaming exposure.
Narrative Update • Jan 05

BYD: Digital Uncertainty And Heavy Buybacks Will Shape Future Returns

Analysts have inched their average fair value estimate for Boyd Gaming up from about $92.00 to roughly $92.33, reflecting updated views on revenue growth, profit margins and future P/E assumptions following recent research that includes an Equal Weight initiation with an $85 target and a price target increase to $99. Analyst Commentary Recent research on Boyd Gaming highlights a mix of optimism around the underlying business and caution about where future growth may come from, especially as the industry continues to lean into digital offerings.
Analysis Article • Dec 23

Is There Now An Opportunity In Boyd Gaming Corporation (NYSE:BYD)?

Boyd Gaming Corporation ( NYSE:BYD ), is not the largest company out there, but it saw a double-digit share price rise...
Narrative Update • Dec 14

BYD: Digital Gaming Caution And Share Repurchases Will Shape Future Return Profile

Analysts have nudged their price target on Boyd Gaming slightly higher to about $92 from about $91.80, citing solid underlying fundamentals and an attractive valuation profile, even as they adopt a more cautious outlook on digital gaming growth. Analyst Commentary Bullish Takeaways Bullish analysts highlight that the recent price target increases, into the mid to upper $90s range, still leave room for upside relative to current trading levels.
Analysis Article • Dec 08

Boyd Gaming (NYSE:BYD) Will Pay A Dividend Of $0.18

The board of Boyd Gaming Corporation ( NYSE:BYD ) has announced that it will pay a dividend of $0.18 per share on the...
Narrative Update • Nov 29

BYD: Digital Gaming Uncertainties And Core Stability Will Shape Returns Ahead

Analysts have modestly lowered their fair value estimate for Boyd Gaming to $91.80 from $92.77, citing mixed outlooks for digital gaming growth and largely stable underlying fundamentals. Analyst Commentary Recent analyst updates on Boyd Gaming reflect a mix of optimism and caution, with new coverage and adjusted price targets highlighting diverging views on the company's future growth trajectory.
Narrative Update • Nov 15

BYD: Shares Will Likely Maintain Momentum As New Partnerships Drive Optimism

Analysts have raised their price target for Boyd Gaming from $89 to $99 per share, citing solid quarterly fundamentals that highlight the company's ongoing attractiveness. Analyst Commentary Following the recent earnings report, analysts have weighed in on Boyd Gaming's performance and outlook, emphasizing areas of both optimism and caution regarding the company's valuation, execution, and potential for future growth.
Narrative Update • Nov 01

BYD: Recent Buybacks And Partnership May Drive Resilient Share Performance

Boyd Gaming’s analyst price target has increased by $8, rising from $91.46 to $99.00. This change reflects analysts’ positive view of strong underlying fundamentals and appeal following recent earnings.
Narrative Update • Oct 18

Sky River, Suncoast, And FanDuel Ventures Will Reimagine Hospitality

Analysts have slightly increased their price target for Boyd Gaming, raising it from $90.77 to $91.46 per share. This change is attributed to minor adjustments in discount rates and growth projections.
Analysis Article • Sep 24

Investors Holding Back On Boyd Gaming Corporation (NYSE:BYD)

With a price-to-earnings (or "P/E") ratio of 12.1x Boyd Gaming Corporation ( NYSE:BYD ) may be sending bullish signals...
Analysis Article • Aug 17

Boyd Gaming (NYSE:BYD) Is Due To Pay A Dividend Of $0.18

Boyd Gaming Corporation's ( NYSE:BYD ) investors are due to receive a payment of $0.18 per share on 15th of October...
Analysis Article • Jul 06

Is Boyd Gaming (NYSE:BYD) A Risky Investment?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analysis Article • Jun 22

Calculating The Intrinsic Value Of Boyd Gaming Corporation (NYSE:BYD)

Key Insights Using the 2 Stage Free Cash Flow to Equity, Boyd Gaming fair value estimate is US$67.71 Current share...
Seeking Alpha • Apr 28

Boyd Gaming: No Recession Clouds On The Horizon

Summary Boyd Gaming's Q1 FY 2025 results beat expectations with $1.62 EPS and $991.6 million in revenue, showing resilience despite broader consumer discretionary sector struggles. Casino traffic trends defy recession fears, with core customer share growing and steady spending, indicating strong consumer engagement at Boyd's properties. Boyd's strategic investments, including property renovations and expansions, and robust online segment growth, position it well for continued success and shareholder returns. With a solid balance sheet and manageable debt, BYD remains a top pick for 2025, offering potential share price appreciation and double-digit returns. Read the full article on Seeking Alpha
Seeking Alpha • Apr 15

Boyd Gaming: One Of The Best 'Buy On The Dip' Stories In The Sector

Summary The management team is savvy and the strategic 5% stake in Flutter Entertainment highlights the stock’s strong position in the online sports betting sector. DraftKings and Fan Duel lead the market, but only BetMGM has achieved a double-digit market share among other platforms. Penn Entertainment’s failed Barstool Sports partnership and subsequent ESPNBet deal underscore the challenges in the sports betting market. BYD stands out by investing in Flutter Entertainment, avoiding the costly marketing strategies of other platforms. Read the full article on Seeking Alpha
Seeking Alpha • Mar 02

Boyd Gaming: Ended 2024 On A Strong Note

Summary Boyd Gaming ended 2024 with strong online momentum and a stable brick-and-mortar performance, exceeding Wall Street's expectations. The good positioning in online gaming creating a way to capitalize on FanDuel's position, and the newly started Virginia investment, add further earnings growth potential in 2025 and beyond. I estimate 33% upside in Boyd's stock to a fair value of $100.8. Read the full article on Seeking Alpha

Earnings and Revenue Growth Forecasts

NYSE:BYD - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20284,433574378N/A5
12/31/20274,23650349786214
12/31/20264,13648937575414
3/31/20264,0981,837196855N/A
12/31/20254,0921,843303977N/A
9/30/20254,0711,873412963N/A
6/30/20254,028565464955N/A
3/31/20253,961553482963N/A
12/31/20243,930578557957N/A
9/30/20243,844500528912N/A
6/30/20243,786504508915N/A
3/31/20243,735557516883N/A
12/31/20233,738620541915N/A
9/30/20233,707700570945N/A
6/30/20233,681722641983N/A
3/31/20233,6596767061,025N/A
12/31/20223,555639707976N/A
9/30/20223,512576727961N/A
6/30/20223,478558765967N/A
3/31/20223,4775258171,027N/A
12/31/20213,3704648111,010N/A
9/30/20213,126437734943N/A
6/30/20212,935337646841N/A
3/31/20212,251115320482N/A
12/31/20202,178-135114289N/A
9/30/20202,376-194112258N/A
6/30/20202,543-19274232N/A
3/31/20203,179-35242408N/A
12/31/20193,326158N/A549N/A
9/30/20193,285156N/A517N/A
6/30/20193,077129N/A481N/A
3/31/20192,848119N/A480N/A
12/31/20182,627115N/A435N/A
9/30/20182,430174N/A422N/A
6/30/20182,410185N/A440N/A
3/31/20182,397174N/A423N/A
12/31/20172,401168N/A422N/A
9/30/20172,36197N/A378N/A
6/30/20172,301235N/A312N/A
3/31/20172,242219N/A309N/A
12/31/20162,199208N/A273N/A
9/30/20162,172180N/A329N/A
6/30/20162,18625N/A347N/A
3/31/20162,201-3N/A363N/A
12/31/20152,19911N/A340N/A
9/30/20152,188-7N/A332N/A
6/30/20152,381-29N/A340N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: BYD's earnings are forecast to decline over the next 3 years (-69.4% per year).

Earnings vs Market: BYD's earnings are forecast to decline over the next 3 years (-69.4% per year).

High Growth Earnings: BYD's earnings are forecast to decline over the next 3 years.

Revenue vs Market: BYD's revenue (2.5% per year) is forecast to grow slower than the US market (11.8% per year).

High Growth Revenue: BYD's revenue (2.5% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: BYD's Return on Equity is forecast to be high in 3 years time (20.8%)

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/09 05:02
End of Day Share Price 2026/06/09 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Boyd Gaming Corporation is covered by 32 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
John StaszakArgus Research Company
Brandt MontourBarclays
Felicia Kantor HendrixBarclays