Boyd Gaming Corporation (BYD) Income Statement
BYD 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBYD revenue and net income
Where BYD's revenue goes
2025Each bar shows an amount and its share of revenue. BYD kept 45.0% of revenue as net income.
BYD profit margins
BYD growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +4.1% | +4.8% | +13.4% | +6.4% |
| Gross profit | −15.9% | −4.7% | +8.6% | +5.5% |
| Operating income | −5.5% | −3.7% | +127.9% | +12.5% |
| Net income | +218.9% | +42.3% | — | +44.3% |
| EPS (diluted) | +12.9% | +6.9% | — | +24.9% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BYD quarterly EPS vs estimates
Boyd Gaming beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 22, 2026 (estimate $1.67).
BYD income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.09B | $3.93B | $3.74B | $3.56B | $3.37B | $2.18B | $3.33B | $2.63B | $2.40B | $2.20B |
| Cost of revenue | $2.37B | $1.88B | $1.72B | $1.57B | $1.43B | $1.04B | $1.74B | $1.37B | $1.26B | $1.19B |
| Gross profit | $1.72B | $2.05B | $2.02B | $1.99B | $1.94B | $1.14B | $1.59B | $1.26B | $1.14B | $1.01B |
| Research & development | $12.4M | $28.6M | $3.9M | $600,000 | $31.8M | — | — | $0 | $0 | $0 |
| Sales, general & admin | $668.7M | $538.6M | $606.7M | $499.3M | $487.0M | $472.5M | $602.0M | $423.7M | $391.9M | $322.3M |
| Total operating expenses | $847.7M | $1.12B | $1.12B | $1.01B | $1.04B | $1.13B | $1.12B | $900.1M | $793.1M | $751.9M |
| Operating income | $876.8M | $927.8M | $901.8M | $981.2M | $900.1M | $14.3M | $472.6M | $355.3M | $343.8M | $260.4M |
| Interest income | $152.8M | $1.6M | $41.0M | $129.7M | $1.8M | $1.9M | $1.9M | $3.7M | $1.8M | $3.0M |
| Interest expense | $157.6M | $177.4M | $171.2M | $151.2M | $199.4M | $230.5M | $237.5M | $204.2M | $173.1M | $212.7M |
| Income before taxes | $2.33B | $752.0M | $752.9M | $828.8M | $603.9M | −$171.0M | $202.1M | $155.0M | $171.1M | $8.0M |
| Income taxes | $490.8M | $174.1M | $132.9M | $189.4M | $140.1M | −$36.3M | $44.5M | $40.3M | $3.1M | −$197.5M |
| Net income | $1.84B | $578.0M | $620.0M | $639.4M | $463.8M | −$134.7M | $157.6M | $115.0M | $189.4M | $418.0M |
| EBITDA | $2.79B | $1.21B | $1.18B | $1.24B | $1.07B | $340.5M | $716.2M | $589.2M | $561.7M | $416.7M |
| EPS (diluted) | $7.42 | $6.57 | $6.31 | $6.08 | $5.12 | −$0.16 | $1.78 | $1.32 | $1.02 | $0.98 |
| Gross margin | 42.1% | 52.2% | 54.0% | 56.0% | 57.5% | 52.4% | 47.8% | 47.8% | 47.4% | 46.0% |
| Operating margin | 21.4% | 23.6% | 24.1% | 27.6% | 26.7% | 0.7% | 14.2% | 13.5% | 14.3% | 11.8% |
| Net margin | 45.0% | 14.7% | 16.6% | 18.0% | 13.8% | −6.2% | 4.7% | 4.4% | 7.9% | 19.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.03B | $997.4M | $1.06B | $1.00B | $1.03B | $991.6M | $1.04B | $961.2M | $967.5M | $960.5M | $954.4M | $903.2M |
| Cost of revenue | $605.3M | $600.2M | $857.1M | $516.2M | $506.9M | $487.3M | $493.2M | $461.9M | $460.5M | $464.7M | $449.5M | $421.0M |
| Gross profit | $429.1M | $397.1M | $204.9M | $488.2M | $527.1M | $504.3M | $547.7M | $499.4M | $507.0M | $495.8M | $504.9M | $482.1M |
| Research & development | $15.4M | $20.3M | $7.1M | $4.0M | $2.8M | $1.5M | $6.6M | $11.3M | $7.6M | $3.0M | $3.9M | $2.4M |
| Sales, general & admin | $139.7M | $138.6M | $25.9M | $132.6M | $138.5M | $136.0M | $139.7M | $158.7M | $133.0M | $135.4M | $314.8M | $127.2M |
| Total operating expenses | $228.4M | $233.1M | −$89.8M | $348.4M | $284.7M | $304.4M | $286.4M | $279.4M | $279.9M | $276.4M | $349.9M | $264.3M |
| Operating income | $200.7M | $164.0M | $294.8M | $139.8M | $242.4M | $199.9M | $261.3M | $220.0M | $227.1M | $219.4M | $155.1M | $217.9M |
| Interest income | $1.3M | $1.9M | $24.1M | $1.5M | $49.3M | $808,000 | $384,000 | $392,000 | $403,000 | $446,000 | $1.4M | $40.8M |
| Interest expense | $31.4M | $28.5M | $25.4M | $33.3M | $50.6M | $48.4M | $45.9M | $46.2M | $42.9M | $42.3M | $42.3M | $42.4M |
| Income before taxes | $170.6M | $137.0M | $142.4M | $1.84B | $193.1M | $152.2M | $216.0M | $174.0M | $184.5M | $177.5M | $113.2M | $177.1M |
| Income taxes | $40.6M | $32.7M | $3.5M | $403.2M | $42.8M | $41.3M | $45.5M | $42.9M | $44.7M | $41.0M | $20.6M | $41.9M |
| Net income | $131.2M | $105.5M | $140.4M | $1.44B | $151.5M | $110.3M | $170.5M | $131.1M | $139.8M | $136.5M | $92.6M | $135.2M |
| EBITDA | $291.8M | $260.4M | $258.5M | $1.95B | $313.7M | $268.8M | $339.7M | $290.5M | $293.1M | $282.7M | $223.7M | $284.3M |
| EPS (diluted) | $1.93 | $1.60 | $2.21 | $1.72 | $1.87 | $1.62 | $1.96 | $1.52 | $1.58 | $1.51 | $1.66 | $1.36 |
| Gross margin | 41.5% | 39.8% | 19.3% | 48.6% | 51.0% | 50.9% | 52.6% | 51.9% | 52.4% | 51.6% | 52.9% | 53.4% |
| Operating margin | 19.4% | 16.4% | 27.8% | 13.9% | 23.4% | 20.2% | 25.1% | 22.9% | 23.5% | 22.8% | 16.2% | 24.1% |
| Net margin | 12.7% | 10.6% | 13.2% | 143.4% | 14.6% | 11.1% | 16.4% | 13.6% | 14.5% | 14.2% | 9.7% | 15.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BYD's financial statements (latest annual report filed February 20, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BYD financial results
In fiscal year 2025 (ended December 31, 2025), Boyd Gaming reported revenue of $4.1 billion, up 4.1% from the year before. It had net income of $1.8 billion (up 218.9%), a net profit margin of 45.0%. Diluted earnings per share came to $7.42. Over five years revenue grew at an average rate of 13.4% a year.
See the BYD stock overview for the latest quote and news, or the BYD chart for price history and technical indicators.
BYD income statement FAQ
What is Boyd Gaming's annual revenue?
Boyd Gaming reported total revenue of $4.1 billion for fiscal year 2025, which ended on December 31, 2025. That was up 4.1% from $3.9 billion the previous year.
Is Boyd Gaming profitable?
Yes. Boyd Gaming reported net income of $1.8 billion in fiscal 2025, a net profit margin of 45.0%; its operating margin was 21.4%.
What is Boyd Gaming's gross margin?
Boyd Gaming's gross margin was 42.1% in fiscal 2025: for every $100 of revenue, Boyd Gaming kept $42 after the direct cost of its products and services.
How much does Boyd Gaming spend on research and development?
Boyd Gaming spent $12.4 million on research and development in fiscal 2025, 0.3% of revenue.
How fast is Boyd Gaming growing?
Revenue grew 13.4% a year on average over the last five fiscal years, from $2.2 billion to $4.1 billion.
What are Boyd Gaming's earnings per share?
Boyd Gaming earned $7.42 per diluted share in fiscal 2025, compared with $6.57 a year earlier.
When will Boyd Gaming report its next earnings?
Boyd Gaming is expected to report results for the quarter ending September 30, 2026 on October 22, 2026 after the market closes.
When does Boyd Gaming's fiscal year end?
Boyd Gaming's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 20, 2026.