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Boyd Gaming BYD Midwest And South — CapEx

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Other financials

Income statement

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Revenue$1.0B0.0%
Operating income$200.7M-17.2%
Net income$131.2M-13.4%
EPS (diluted)$1.75-4.9%

Balance sheet

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Cash & equivalents$372.7M+19.7%
Total debt$2.9B-30.7%
Total equity$2.5B+88.0%
Total assets$6.6B+2.2%

Cash flow

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Operating cash flow$134.3M-47.6%
CapEx$155.2M-8.7%
Free cash flow-$20.8M-124%

Valuation

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Market cap$6.13B-8.3%
Enterprise value$8.68B-6.4%
P/E3.4×-8.5×
P/S1.5×-0.2×

Profitability

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Operating margin16.4%-6.6pp
Net margin44.3%+30.3pp
FCF margin6.9%-5.3pp

Returns & leverage

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Return on equity94.6%+59.0pp
Debt / equity1.2×-2.0×
Current ratio0.6×-0.2×

Where this comes from

Reported directly by Boyd Gaming in its filing.

Tagged under the XBRL concept byd:CapitalExpenditures.

The source filing: Boyd Gaming’s 10-K, filed February 20, 2026.

Filed
Feb 20, 2026, 4:05 PM EST
Fiscal year
FY2025
Accession
0001437749-26-004908
(In thousands)Year Ended December 31, 2025Year Ended December 31, 2024Year Ended December 31, 2023
Capital Expenditures
Las Vegas Locals$212,982$71,182$82,918
Downtown Las Vegas12,34212,04042,233
Midwest & South209,610228,457200,577
Online18742224
Managed & Other4,9515,0505,001
Corporate159,42290,95955,776
Total Capital Expenditures599,494407,730386,729

Document

FAQ

What is Boyd Gaming's midwest and south — capex?
Boyd Gaming (BYD) reported midwest and south — capex of $52.4M in Q4 2025.
How has Boyd Gaming's midwest and south — capex changed year-over-year?
Boyd Gaming's midwest and south — capex decreased by 8.2% year-over-year, from $57.11M to $52.4M.
What is the long-term trend for Boyd Gaming's midwest and south — capex?
Over 4 years (2021 to 2025), Boyd Gaming's midwest and south — capex has grown at a 24.0% compound annual growth rate (CAGR), from $88.67M to $209.61M.
What does midwest and south — capex mean?
This metric measures the cash outflows used to acquire, upgrade, or maintain physical assets such as casino facilities, hotel infrastructure, and gaming equipment within the Midwest and South segment. It reflects the company's commitment to reinvesting in its property portfolio to sustain long-term growth and competitiveness. High levels of expenditure often indicate planned property enhancements or capacity expansions.

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