Boyd Gaming Corporation (BYD) vs PENN Entertainment, Inc. (PENN)

Boyd Gaming Corporation and PENN Entertainment, Inc. are both Resorts & Casinos companies. Boyd Gaming Corporation is the larger, with a market value of $5.2B against $2.0B — 2.5× the size. PENN Entertainment, Inc. has negative trailing earnings, so its P/E is not meaningful; Boyd Gaming Corporation trades at 3.1×. PENN Entertainment, Inc. grew revenue faster over the last twelve months: 6.14% against 1.75%. Boyd Gaming Corporation has the higher net margin (44.3% vs −12.7%) and the higher return on invested capital (8.77% vs −4.38%). Across the 19 metrics below, Boyd Gaming Corporation leads on 10 and PENN Entertainment, Inc. on 9.

Valuation

Metric BYD PENN Resorts & Casinos median
P/E 3.07 n/m 17.15
P/S 1.27 0.28 0.53
P/B 2.09 1.08 2.09
Price to free cash flow 148.87 52.70 9.94
EV/EBITDA 7.31 n/m 8.87
EV/Sales 1.84 1.15 1.78
Earnings yield 32.56% (42.50%) 1.35%
Free cash flow yield 0.67% 1.90% 7.20%

Profitability

Metric BYD PENN Resorts & Casinos median
Gross margin 49.00% 35.16% 50.85%
Operating margin 16.37% (7.89%) 10.41%
Net margin 44.34% (12.66%) 1.28%
Free cash flow margin 0.86% 0.53% 4.23%
Return on equity 93.36% (37.49%) 5.28%
Return on assets 27.44% (6.19%) 0.57%
Return on invested capital 8.77% (4.38%) 5.61%

Growth

Metric BYD PENN Resorts & Casinos median
Revenue growth (TTM) 1.75% 6.14% 2.76%
EPS growth (last fiscal year) 264.46% (184.39%) 8.54%
Revenue growth, 5-year CAGR 13.44% 14.23% 24.21%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric BYD PENN Resorts & Casinos median
Debt to equity 1.05 3.83 1.94
Current ratio 0.77 0.89 0.91
Net debt to EBITDA 1.59 (30.04) 3.48

Dividend

Metric BYD PENN Resorts & Casinos median
Dividend yield 1.12% — 1.94%
Payout ratio 0.03 — 0.37

Size

Metric BYD PENN Resorts & Casinos median
Market cap 5.16b 2.04b 2.44b

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack