Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.29, read 2026-11-02
Ethical does not pass the values gate
Price77.07 USD
Fair value105.00
Ethical score30.0/100
Value readUndervaluedas of 5 Nov 2026
Our investment reviews on this name
2026-11-05Read Markup77.70-0.8% to today Accumulation gives way to Markup after a 10% rise in 7 days
2026-10-29Read Accumulation70.77+8.9% to today ✓Distribution gives way to Accumulation
2026-10-16Read Distribution70.97+8.6% to today Markdown gives way to Distribution after a 6% rise in 2 weeks
2026-10-02Read Markdown67.08+14.9% to today Distribution gives way to Markdown after a 23% slide in 13 weeks
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Boyd Gaming Corporation holds its Markup at $77.07. Consolidating, no directional conviction, held for 224 days.
As held on the ledger · 2026-11-05
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 224 days
Price at the screen
$77.07
Valuation
11.27 trailing · 10.01 forward price to earnings
Values screen
FAIL· score 30.0
Beta
1.13
The Workings
Five Screens, Shown in Full
Does not pass. Prohibited keyword in sector/industry: casino
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Prohibited keyword in sector/industry: casino
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Boyd Gaming does not clear the screen at the business-activity stage. It operates in gambling, so the financial ratios are not the deciding factor here.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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Today BYD does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 5 Nov 2026: it trades at roughly a 26% discount to our $105.00 fair value.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. A 26.6% discount to the base estimate.
Where our models see it going: fair-value estimate $105.00, with a range of $96.53 to $155.40, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Casinos clear the numbers but not the screen
Walk into any Las Vegas property on a busy weekend and the cash registers still ring, yet Boyd Gaming lands on the wrong side of our ethical screen because the whole sector is off limits. We pass outright.
The numbers look tidy on the surface, with a forward multiple of 11.2 times, a 45 percent profit margin and 94 percent return on equity, but revenue is crawling at just 1 percent and the shares already sit 7 percent above our fair value of 81.24 dollars. That low multiple on a consumer cyclical is usually a warning rather than a bargain.
High returns can vanish fast when discretionary spending turns, and the ethical red flag removes any temptation to dig deeper. Consensus targets sit higher but we apply our own lens here. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
BYD trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-05Markup · changed$77.70+9.8%Entry 17
The framework has shifted from accumulation to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 9.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (15 analysts) rates it buy, with a mean price target of $94.
The framework has shifted from distribution to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (15 analysts) rates it buy, with a mean price target of $94.
2026-10-22Distribution$70.96+0.0%Entry 15
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (15 analysts) rates it buy, with a mean price target of $94. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-21Distribution$70.96+0.0%Entry 14
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (15 analysts) rates it buy, with a mean price target of $94. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-20Distribution$70.960.0%Entry 13
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (15 analysts) rates it buy, with a mean price target of $94. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-19Distribution$70.97+0.0%Entry 12
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (15 analysts) rates it buy, with a mean price target of $94. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-18Distribution$70.97+0.0%Entry 11
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (15 analysts) rates it buy, with a mean price target of $94. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-17Distribution$70.97+0.0%Entry 10
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (15 analysts) rates it buy, with a mean price target of $94. It reported earnings in this window, a natural checkpoint for the thesis.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 3.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (15 analysts) rates it buy, with a mean price target of $94. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-15Markdown$68.93+0.0%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (15 analysts) rates it buy, with a mean price target of $94. It reported earnings in this window, a natural checkpoint for the thesis.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.