Company / Operating Margin
Boyd Gaming Operating Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
18.3%
FY2025
5-year range
18.3% / 27.6%
FY2021-FY2025
Trend
-22.5%
vs FY2024
Sector context
#37 of 185
Consumer Discretionary
What the data says
Boyd Gaming's operating margin of 18.3% is higher than 80% of companies in the Consumer Discretionary sector (FY2025). Operating Margin has declined for 4 consecutive years, from 58.6% in FY2018 to 18.3% in FY2025.
Based on SEC 10-K filings.
18.3% in FY2025 with a 3-year CAGR of -9.3%. Top quartile in the Consumer Discretionary sector.
Declined from 24.1% to 18.3% over the past 2 years.
Consumer Discretionary sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- -9.3pp
- 5-Year Change
- -
- 10-Year Change
- -
Sector benchmark
+448.4% above sector average
Key checks
Key Insights
- Boyd Gaming's operating margin has declined for 3 consecutive years.
- In FY2025, operating margin decreased 22.5% year-over-year.
- Currently 15.0pp above the Consumer Discretionary sector average.
- Peak operating margin was recorded in FY2018.
Company context
Key Data Points
- Strong profit margin: 46.0%
- Low earnings quality (accrual-heavy earnings)
- Strong return on equity: 70.2%
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 18.3% | -22.5% |
| FY2024 | 23.6% | -2.1% |
| FY2023 | 24.1% | -12.6% |
| FY2022 | 27.6% | - |
| FY2021 | - | - |
| FY2020 | - | - |
| FY2019 | - | - |
| FY2018 | 58.6% | +309.4% |
| FY2017 | 14.3% | +20.9% |
| FY2016 | 11.8% | -4.0% |
As of FY2025 · SEC 10-K · Updated Feb 28, 2026