Boyd Gaming Corporation

NYSE:BYD Stock Report

Market Cap: US$6.9b

Boyd Gaming Valuation

Is BYD undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BYD when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
US$96.24
Fair Value
10.4% undervalued intrinsic discount
13
Number of Analysts

Below Fair Value: BYD ($86.25) is trading below our estimate of fair value ($96.24)

Significantly Below Fair Value: BYD is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BYD?

Key metric: As BYD is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for BYD. This is calculated by dividing BYD's market cap by their current earnings.
What is BYD's PE Ratio?
PE Ratio12.3x
EarningsUS$564.51m
Market CapUS$6.92b

Price to Earnings Ratio vs Peers

How does BYD's PE Ratio compare to its peers?

The above table shows the PE ratio for BYD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average26x
RRR Red Rock Resorts
20.6x11.23%US$6.2b
LNW Light & Wonder
22.5x18.08%US$7.7b
SGHC Super Group (SGHC)
44x26.73%US$6.0b
CHDN Churchill Downs
16.8x8.07%US$7.3b
BYD Boyd Gaming
12.3x0.27%US$6.9b

Price-To-Earnings vs Peers: BYD is good value based on its Price-To-Earnings Ratio (12.3x) compared to the peer average (26x).

Price to Earnings Ratio vs Industry

How does BYD's PE Ratio compare vs other companies in the US Hospitality Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
INSE Inspired Entertainment
3.8x-88.79%US$233.40m
DHCC Diamondhead Casino
0.4xn/aUS$181.49k
No more companies available in this PE range
BYD 12.3xIndustry Avg. 24.0xNo. of Companies16PE01632486480+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BYD is good value based on its Price-To-Earnings Ratio (12.3x) compared to the US Hospitality industry average (24x).

Price to Earnings Ratio vs Fair Ratio

What is BYD's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BYD PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.3x
Fair PE Ratio18x

Price-To-Earnings vs Fair Ratio: BYD is good value based on its Price-To-Earnings Ratio (12.3x) compared to the estimated Fair Price-To-Earnings Ratio (18x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BYD forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$86.25
US$89.92
+4.26%
7.50%US$101.00US$80.00n/a13
Aug ’26US$83.65
US$89.92
+7.50%
7.50%US$101.00US$80.00n/a13
Jul ’26US$80.43
US$80.62
+0.23%
6.16%US$88.00US$73.00n/a13
Jun ’26US$74.97
US$80.00
+6.71%
6.90%US$88.00US$71.00n/a12
May ’26US$69.17
US$79.67
+15.18%
7.36%US$88.00US$71.00n/a12
Apr ’26US$65.71
US$83.08
+26.44%
8.66%US$100.00US$74.00n/a12
Mar ’26US$76.26
US$84.79
+11.18%
7.58%US$100.00US$75.00n/a14
Feb ’26US$76.65
US$79.86
+4.18%
7.00%US$92.00US$69.00n/a14
Jan ’26US$72.54
US$76.57
+5.56%
5.77%US$85.00US$69.00n/a14
Dec ’25US$73.85
US$74.79
+1.27%
5.59%US$82.00US$69.00n/a14
Nov ’25US$68.66
US$74.86
+9.03%
5.64%US$82.00US$69.00n/a14
Oct ’25US$63.90
US$70.50
+10.33%
5.43%US$78.00US$66.00n/a14
Sep ’25US$60.02
US$69.64
+16.03%
5.52%US$78.00US$66.00n/a14
Aug ’25US$57.78
US$69.64
+20.53%
5.52%US$78.00US$66.00US$83.6514
Jul ’25US$53.77
US$69.79
+29.79%
5.76%US$78.00US$65.00US$80.4314
Jun ’25US$53.32
US$69.79
+30.88%
5.76%US$78.00US$65.00US$74.9714
May ’25US$53.35
US$70.73
+32.57%
6.33%US$78.00US$65.00US$69.1714
Apr ’25US$67.67
US$76.44
+12.96%
5.78%US$82.00US$69.00US$65.7114
Mar ’25US$64.88
US$76.17
+17.40%
6.11%US$82.00US$69.00US$76.2612
Feb ’25US$64.49
US$74.08
+14.88%
7.38%US$84.00US$67.00US$76.6512
Jan ’25US$62.61
US$75.42
+20.45%
7.89%US$84.00US$66.00US$72.5412
Dec ’24US$61.03
US$75.33
+23.44%
7.28%US$84.00US$67.00US$73.8512
Nov ’24US$54.77
US$75.33
+37.54%
7.28%US$84.00US$67.00US$68.6612
Oct ’24US$60.83
US$80.08
+31.65%
4.25%US$85.00US$75.00US$63.9012
Sep ’24US$67.63
US$80.08
+18.41%
4.25%US$85.00US$75.00US$60.0212
Aug ’24US$67.97
US$80.00
+17.70%
4.16%US$85.00US$75.00US$57.7813
AnalystConsensusTarget
Consensus Narrative from 13 Analysts
US$89.92
Fair Value
4.1% undervalued intrinsic discount
13
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/08/26 01:38
End of Day Share Price 2025/08/25 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

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 43 analysts. 12 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
Felicia Kantor HendrixBarclays
Brandt MontourBarclays