Boyd Gaming
BYD · Casinos & Gaming
$71.69
0.8%Wynn Resorts
WYNN · Casinos & Gaming
$72.73
3.2%The short version
- Wynn Resorts is the larger business, with $7.1B of revenue in fiscal 2025 against $4.1B for Boyd Gaming, about 1.7 times as much.
- Boyd Gaming grew revenue faster (4.1%, against 0.1%).
- Boyd Gaming kept more of each dollar of sales as operating profit (18.3% operating margin, against 15.7% operating margin).
- Boyd Gaming earned a higher return on the capital invested in it (13.5%, against 11.6%).
- Investors pay more for each dollar of Wynn Resorts’s earnings: a P/E of 17.4x against 3.1x for Boyd Gaming.
| Latest fiscal year | BYD · FY25 | WYNN · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.4B | $7.5B |
| Revenue | $4.1B | $7.1B |
| Free cash flow | $388M | $692M |
| Net income | $1.8B | $327M |
| Growth | ||
| Revenue growth | 4.1% | 0.1% |
| 5-year growth | 13.4% | 27.8% |
| Share count change | −12.5% | −5.5% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 18.3% | 15.7% |
| Net margin | 45.1% | 4.6% |
| FCF margin | 9.5% | 9.7% |
| Return on capital | 13.5% | 11.6% |
| Return on equity | 88.0% | — |
| Balance sheet | ||
| Net debt | $1.7B | $9.2B |
| Net debt / EBITDA | 1.6x | 5.3x |
| Dividends and buybacks | $837M | $555M |
| Valuation & quality | ||
| P/E | 3.1x | 17.4x |
| Piotroski F-score | 6 | 5 |
FY16
BYD $2.2B
WYNN $4.3B
FY17
BYD $2.4B
WYNN $6.1B
FY18
BYD $2.6B
WYNN $6.7B
FY19
BYD $3.3B
WYNN $6.6B
FY20
BYD $2.2B
WYNN $2.1B
FY21
BYD $3.4B
WYNN $3.8B
FY22
BYD $3.6B
WYNN $3.8B
FY23
BYD $3.7B
WYNN $6.5B
FY24
BYD $3.9B
WYNN $7.1B
FY25
BYD $4.1B
WYNN $7.1B
BYD
WYNN
FY16
BYD 11.8%
WYNN 12.0%
FY17
BYD 14.3%
WYNN 17.4%
FY18
BYD 13.5%
WYNN 11.0%
FY19
BYD 14.2%
WYNN 13.3%
FY20
BYD 0.7%
WYNN −58.8%
FY21
BYD 26.7%
WYNN −10.5%
FY22
BYD 27.6%
WYNN −2.7%
FY23
BYD 24.1%
WYNN 12.9%
FY24
BYD 23.6%
WYNN 15.9%
FY25
BYD 18.3%
WYNN 15.7%
BYD
WYNN
FY16
BYD $140M
WYNN −$255M
FY17
BYD $232M
WYNN $941M
FY18
BYD $273M
WYNN −$514M
FY19
BYD $341M
WYNN −$162M
FY20
BYD $114M
WYNN −$1.4B
FY21
BYD $811M
WYNN −$513M
FY22
BYD $707M
WYNN −$371M
FY23
BYD $541M
WYNN $805M
FY24
BYD $557M
WYNN $1.0B
FY25
BYD $388M
WYNN $692M
BYD
WYNN
FY16
BYD 6.9%
WYNN 6.9%
FY17
BYD 8.5%
WYNN 13.6%
FY18
BYD 5.9%
WYNN 8.8%
FY19
BYD 7.6%
WYNN 6.0%
FY20
BYD 0.2%
WYNN −10.5%
FY21
BYD 15.8%
WYNN −3.6%
FY22
BYD 17.6%
WYNN −1.0%
FY23
BYD 17.1%
WYNN 11.5%
FY24
BYD 16.2%
WYNN 15.0%
FY25
BYD 13.5%
WYNN 11.6%
BYD
WYNN
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.