WallStSmart

Boyd Gaming Corporation (BYD)vsPenn National Gaming Inc (PENN)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Penn National Gaming Inc generates 72% more annual revenue ($7.07B vs $4.10B). BYD leads profitability with a 44.8% profit margin vs -13.5%. PENN appears more attractively valued with a PEG of 1.01. BYD earns a higher WallStSmart Score of 62/100 (C+).

BYD

Buy

62

out of 100

Grade: C+

Growth: 4.0Profit: 9.0Value: 4.7Quality: 6.0
Piotroski: 4/9Altman Z: 2.74

PENN

Buy

59

out of 100

Grade: C

Growth: 6.7Profit: 3.5Value: 7.0Quality: 5.0
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

BYDSignificantly Overvalued (-60.7%)

Margin of Safety

-60.7%

Fair Value

$51.91

Current Price

$82.75

$30.84 premium

UndervaluedFair: $51.91Overvalued
PENNUndervalued (+82.6%)

Margin of Safety

+82.6%

Fair Value

$76.92

Current Price

$15.94

$60.98 discount

UndervaluedFair: $76.92Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

BYD4 strengths · Avg: 9.5/10
P/E RatioValuation
3.8x10/10

Attractively priced relative to earnings

Return on EquityProfitability
94.3%10/10

Every $100 of equity generates 94 in profit

Profit MarginProfitability
44.8%10/10

Keeps 45 of every $100 in revenue as profit

Price/BookValuation
2.4x8/10

Reasonable price relative to book value

PENN2 strengths · Avg: 10.0/10
Price/BookValuation
1.1x10/10

Reasonable price relative to book value

EPS GrowthGrowth
208.9%10/10

Earnings expanding 208.9% YoY

Areas to Watch

BYD4 concerns · Avg: 3.0/10
Revenue GrowthGrowth
0.6%4/10

0.6% revenue growth

EPS GrowthGrowth
4.7%4/10

4.7% earnings growth

PEG RatioValuation
3.032/10

Expensive relative to growth rate

Free Cash FlowQuality
$-20.84M2/10

Negative free cash flow — burning cash

PENN2 concerns · Avg: 1.5/10
Return on EquityProfitability
-40.1%2/10

ROE of -40.1% — below average capital efficiency

Profit MarginProfitability
-13.5%1/10

Currently unprofitable

Comparative Analysis Report

WallStSmart Research

Bull Case : BYD

The strongest argument for BYD centers on P/E Ratio, Return on Equity, Profit Margin. Profitability is solid with margins at 44.8% and operating margin at 18.5%.

Bull Case : PENN

The strongest argument for PENN centers on Price/Book, EPS Growth. PEG of 1.01 suggests the stock is reasonably priced for its growth.

Bear Case : BYD

The primary concerns for BYD are Revenue Growth, EPS Growth, PEG Ratio.

Bear Case : PENN

The primary concerns for PENN are Return on Equity, Profit Margin.

Key Dynamics to Monitor

BYD profiles as a value stock while PENN is a turnaround play — different risk/reward profiles.

PENN carries more volatility with a beta of 1.44 — expect wider price swings.

PENN is growing revenue faster at 6.4% — sustainability is the question.

PENN generates stronger free cash flow (28M), providing more financial flexibility.

Bottom Line

BYD scores higher overall (62/100 vs 59/100), backed by strong 44.8% margins. PENN offers better value entry with a 82.6% margin of safety. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Boyd Gaming Corporation

CONSUMER CYCLICAL · RESORTS & CASINOS · USA

Boyd Gaming Corporation is a multi-jurisdictional gaming company. The company is headquartered in Las Vegas, Nevada.

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Penn National Gaming Inc

CONSUMER CYCLICAL · RESORTS & CASINOS · USA

Penn National Gaming, Inc. is an American operator of casinos and racetracks, based in Wyomissing, Pennsylvania.

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