Boyd Gaming Corporation (BYD) vs Hilton Grand Vacations Inc. (HGV)

Boyd Gaming Corporation and Hilton Grand Vacations Inc. are both Resorts & Casinos companies. Boyd Gaming Corporation is the larger, with a market value of $5.2B against $2.7B — 1.9× the size. Boyd Gaming Corporation trades at the lower P/E: 3.1× against 20.1×. Hilton Grand Vacations Inc. grew revenue faster over the last twelve months: 5.44% against 1.75%. Boyd Gaming Corporation has the higher net margin (44.3% vs 2.86%) and the higher return on invested capital (8.77% vs 3.86%). Across the 21 metrics below, Boyd Gaming Corporation leads on 14 and Hilton Grand Vacations Inc. on 7.

Valuation

Metric BYD HGV Resorts & Casinos median
P/E 3.14 20.13 18.52
P/S 1.30 0.54 0.54
P/B 2.13 2.26 2.13
Price to free cash flow 151.99 8.31 13.62
EV/EBITDA 7.41 11.44 9.18
EV/Sales 1.87 1.90 1.80
Earnings yield 31.90% 4.97% 1.69%
Free cash flow yield 0.66% 12.03% 6.51%

Profitability

Metric BYD HGV Resorts & Casinos median
Gross margin 49.00% 37.04% 50.85%
Operating margin 16.37% 9.89% 10.41%
Net margin 44.34% 2.86% 1.28%
Free cash flow margin 0.86% 6.48% 4.23%
Return on equity 93.36% 10.42% 5.28%
Return on assets 27.44% 1.26% 0.57%
Return on invested capital 8.77% 3.86% 5.61%

Growth

Metric BYD HGV Resorts & Casinos median
Revenue growth (TTM) 1.75% 5.44% 2.76%
EPS growth (last fiscal year) 264.46% 97.78% —
Revenue growth, 5-year CAGR 13.44% 41.36% 24.21%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric BYD HGV Resorts & Casinos median
Debt to equity 1.05 6.18 1.94
Current ratio 0.77 5.02 0.91
Net debt to EBITDA 1.59 8.30 3.08

Dividend

Metric BYD HGV Resorts & Casinos median
Dividend yield 0.97% — 1.27%
Payout ratio 0.09 0.00 0.00

Size

Metric BYD HGV Resorts & Casinos median
Market cap 5.22b 2.73b 2.43b

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