BYD (Boyd Gaming Corp) vs S&P 500 Comparison

BYD

S&P 500

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BYD

S&P 500

Difference

1Y 3Y 5Y 10Y 15Y 20Y

BYD

S&P 500

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Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

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S&P 500

BYD

FLTR

LVS

ALL

1928

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1Y 3Y 5Y 10Y 15Y 20Y

Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

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Boyd Gaming Corp
Glance View

Economic Moat

None

Market Cap

6.8B USD

Industry

Hotels, Restaurants & Leisure

In the dynamic world of entertainment and gaming, Boyd Gaming Corporation stands as a prominent player with deep roots going back to its founding in 1975 by Sam Boyd. What began as a small operation in Las Vegas has grown into a robust empire spanning several states. Boyd Gaming thrives on its core business model: owning and operating premier casino properties, strategically located across multiple regions in the United States. The company generates revenue primarily through its diverse offerings, which include classic gaming opportunities such as slot machines, table games, and sports betting. Complementing these are the non-gaming amenities that enhance the guest experience, from exquisite dining options and chic nightlife venues to comfortable accommodations and convenient retail outlets. At the heart of Boyd Gaming's economic engine is its commitment to creating a holistic entertainment experience. This approach has allowed it to cultivate a loyal customer base and attract a wide array of patrons seeking varied forms of leisure and entertainment. By focusing on regional gaming markets, Boyd Gaming mitigates risks and strengthens its market position through intimacy with local preferences and regulations. The company's strategic diversification into online gaming and partnerships augment its traditional operations, ensuring resilience and adaptability in a rapidly evolving industry landscape. As with any successful enterprise, Boyd Gaming continuously leverages its operational strengths, aligning its financial strategies with ever-changing consumer demands and industry trends to sustain its growth trajectory.

View BYD Analysis

BYD Intrinsic Value

What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

IE		Flutter Entertainment PLC LSE:FLTR	Add
US		Las Vegas Sands Corp NYSE:LVS	Add
AU		Aristocrat Leisure Ltd ASX:ALL	Add
MO		Sands China Ltd HKEX:1928	Add
HK		Galaxy Entertainment Group Ltd HKEX:27	Add
US		DraftKings Inc NASDAQ:DKNG	Add
SE		Evolution AB (publ) STO:EVO	Add
ZA	T	Tsogo Sun Gaming Ltd JSE:TSG	Add
ZA	S	Sun International Ltd JSE:SUI	Add
US	P	PENN Entertainment Inc SWB:PN1	Add

IE		Flutter Entertainment PLC LSE:FLTR	Select
US		Las Vegas Sands Corp NYSE:LVS	Select
AU		Aristocrat Leisure Ltd ASX:ALL	Select
MO		Sands China Ltd HKEX:1928	Select
HK		Galaxy Entertainment Group Ltd HKEX:27	Select
US		DraftKings Inc NASDAQ:DKNG	Select
SE		Evolution AB (publ) STO:EVO	Select
ZA	T	Tsogo Sun Gaming Ltd JSE:TSG	Select
ZA	S	Sun International Ltd JSE:SUI	Select
US	P	PENN Entertainment Inc SWB:PN1	Select

IE		Flutter Entertainment PLC LSE:FLTR	Add
US		Las Vegas Sands Corp NYSE:LVS	Add
AU		Aristocrat Leisure Ltd ASX:ALL	Add
MO		Sands China Ltd HKEX:1928	Add
HK		Galaxy Entertainment Group Ltd HKEX:27	Add
US		DraftKings Inc NASDAQ:DKNG	Add
SE		Evolution AB (publ) STO:EVO	Add
ZA	T	Tsogo Sun Gaming Ltd JSE:TSG	Add
ZA	S	Sun International Ltd JSE:SUI	Add
US	P	PENN Entertainment Inc SWB:PN1	Add

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BYD

vs

S&P 500

Stocks Performance
BYD vs S&P 500

Performance Gap
BYD vs S&P 500

Performance By Year
BYD vs S&P 500

Competitors Performance
Boyd Gaming Corp vs Peers

Boyd Gaming Corp
Glance View

Company

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BYD vs S&P 500

Stocks Performance BYD vs S&P 500

Performance Gap BYD vs S&P 500

Performance By Year BYD vs S&P 500

Competitors Performance Boyd Gaming Corp vs Peers

Boyd Gaming Corp Glance View

Company

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Stocks

BYD

vs

S&P 500

Stocks Performance
BYD vs S&P 500

Performance Gap
BYD vs S&P 500

Performance By Year
BYD vs S&P 500

Competitors Performance
Boyd Gaming Corp vs Peers

Boyd Gaming Corp
Glance View