Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.20B | $2.40B | $2.63B | $3.33B | $2.18B | $3.37B | $3.56B | $3.74B | $3.93B | $4.09B |
| Revenue growth | — | 9.2% | 9.4% | 26.6% | -34.5% | 54.7% | 5.5% | 5.2% | 5.1% | 4.1% |
| Operating income | $260M | $344M | $355M | $473M | $14.3M | $900M | $981M | $902M | $928M | $748M |
| Operating margin | 11.8% | 14.3% | 13.5% | 14.2% | 0.7% | 26.7% | 27.6% | 24.1% | 23.6% | 18.3% |
| Net income | $420M | $189M | $115M | $158M | -$135M | $464M | $639M | $620M | $578M | $1.84B |
| Net margin | 19.1% | 7.9% | 4.4% | 4.7% | -6.2% | 13.8% | 18.0% | 16.6% | 14.7% | 45.0% |
| EPS (diluted) | $3.65 | $1.64 | $1.00 | $1.38 | -$1.19 | $4.07 | $5.87 | $6.12 | $6.19 | $22.56 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $300M | $423M | $435M | $549M | $289M | $1.01B | $976M | $915M | $957M | $977M |
| Capital expenditures | $160M | $190M | $162M | $208M | $175M | $199M | $269M | $374M | $400M | $588M |
| Free cash flow | $140M | $232M | $273M | $341M | $114M | $811M | $707M | $541M | $557M | $388M |
| Share buybacks | — | $31.9M | $59.6M | $28.0M | $11.1M | $80.8M | $542M | $413M | $686M | $778M |
| Dividends paid | $0.00 | $11.3M | $24.7M | $28.9M | $7.81M | $0.00 | $48.2M | $63.6M | $62.7M | $58.2M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $194M | $203M | $249M | $250M | $519M | $345M | $283M | $304M | $317M | $353M |
| Total assets | $4.67B | $4.69B | $5.76B | $6.65B | $6.56B | $6.22B | $6.31B | $6.27B | $6.39B | $6.57B |
| Long-term debt | $3.20B | $3.05B | $3.96B | $3.74B | $3.87B | $2.99B | $3.01B | $2.87B | $3.13B | $2.05B |
| Shareholders' equity | $930M | $1.10B | $1.15B | $1.27B | $1.12B | $1.54B | $1.59B | $1.74B | $1.58B | $2.61B |
| Retained earnings | -$19.9M | $164M | $253M | $381M | $246M | $710M | $1.29B | $1.74B | $1.58B | $2.61B |
| Shares (wtd avg diluted) | 115M | 116M | 115M | 114M | 114M | 114M | 109M | 101M | 93.3M | 81.7M |
Every figure is extracted from BOYD GAMING CORP’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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