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Side-by-side financial comparison of Allegiant Travel CO (ALGT) and BOYD GAMING CORP (BYD). Click either name above to swap in a different company.
BOYD GAMING CORP is the larger business by last-quarter revenue ($997.4M vs $595.5M, roughly 1.7× Allegiant Travel CO). BOYD GAMING CORP runs the higher net margin — 10.5% vs 5.4%, a 5.1% gap on every dollar of revenue. On growth, Allegiant Travel CO posted the faster year-over-year revenue change (7.6% vs 0.6%). Over the past eight quarters, BOYD GAMING CORP's revenue compounded faster (1.5% CAGR vs 1.3%).
Allegiant Air, styled as allegiant, is an American low-cost airline headquartered in Las Vegas, Nevada. The airline focuses on serving leisure traffic from small and medium-sized cities which it considers to be underserved, using an ultra low-cost business model with minimal inclusions in fares and a greater number of add-on fees.
Boyd Gaming Corporation is an American gambling and hospitality company based in Paradise, Nevada, US.
ALGT vs BYD — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $595.5M | $997.4M |
| Net Profit | $31.9M | $104.3M |
| Gross Margin | — | — |
| Operating Margin | 11.2% | 16.4% |
| Net Margin | 5.4% | 10.5% |
| Revenue YoY | 7.6% | 0.6% |
| Net Profit YoY | 114.8% | -5.9% |
| EPS (diluted) | $1.82 | $1.37 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $997.4M | ||
| Q4 25 | $595.5M | $1.1B | ||
| Q3 25 | $494.1M | $1.0B | ||
| Q2 25 | $617.9M | $1.0B | ||
| Q1 25 | $616.8M | $991.6M | ||
| Q4 24 | $553.6M | $1.0B | ||
| Q3 24 | $489.0M | $961.2M | ||
| Q2 24 | $594.5M | $967.5M |
| Q1 26 | — | $104.3M | ||
| Q4 25 | $31.9M | $140.4M | ||
| Q3 25 | $-43.6M | $1.4B | ||
| Q2 25 | $-65.2M | $151.5M | ||
| Q1 25 | $32.1M | $111.4M | ||
| Q4 24 | $-216.2M | $170.5M | ||
| Q3 24 | $-36.8M | $131.1M | ||
| Q2 24 | $13.7M | $139.8M |
| Q1 26 | — | 16.4% | ||
| Q4 25 | 11.2% | 15.7% | ||
| Q3 25 | -5.5% | 13.9% | ||
| Q2 25 | -10.9% | 23.4% | ||
| Q1 25 | 10.5% | 20.2% | ||
| Q4 24 | -47.7% | 25.1% | ||
| Q3 24 | -5.4% | 22.9% | ||
| Q2 24 | 5.9% | 23.5% |
| Q1 26 | — | 10.5% | ||
| Q4 25 | 5.4% | 13.2% | ||
| Q3 25 | -8.8% | 143.4% | ||
| Q2 25 | -10.5% | 14.6% | ||
| Q1 25 | 5.2% | 11.2% | ||
| Q4 24 | -39.1% | 16.4% | ||
| Q3 24 | -7.5% | 13.6% | ||
| Q2 24 | 2.3% | 14.5% |
| Q1 26 | — | $1.37 | ||
| Q4 25 | $1.82 | $1.60 | ||
| Q3 25 | $-2.41 | $17.81 | ||
| Q2 25 | $-3.62 | $1.84 | ||
| Q1 25 | $1.73 | $1.31 | ||
| Q4 24 | $-12.12 | $1.89 | ||
| Q3 24 | $-2.05 | $1.43 | ||
| Q2 24 | $0.75 | $1.47 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $805.7M | — |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $1.1B | — |
| Total Assets | $4.2B | — |
| Debt / EquityLower = less leverage | 1.60× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $805.7M | $353.4M | ||
| Q3 25 | $956.7M | $319.1M | ||
| Q2 25 | $842.8M | $320.1M | ||
| Q1 25 | $878.6M | $311.5M | ||
| Q4 24 | $781.1M | $316.7M | ||
| Q3 24 | $759.3M | $286.3M | ||
| Q2 24 | $791.9M | $280.8M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.8B | $3.6B | ||
| Q1 25 | $1.7B | $3.5B | ||
| Q4 24 | $1.6B | $3.2B | ||
| Q3 24 | $1.8B | $3.1B | ||
| Q2 24 | $1.7B | $3.0B |
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $2.6B | ||
| Q3 25 | $1.0B | $2.7B | ||
| Q2 25 | $1.1B | $1.4B | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.1B | $1.6B | ||
| Q3 24 | $1.3B | $1.6B | ||
| Q2 24 | $1.3B | $1.7B |
| Q1 26 | — | — | ||
| Q4 25 | $4.2B | $6.6B | ||
| Q3 25 | $4.4B | $6.5B | ||
| Q2 25 | $4.4B | $6.6B | ||
| Q1 25 | $4.5B | $6.5B | ||
| Q4 24 | $4.4B | $6.4B | ||
| Q3 24 | $4.8B | $6.3B | ||
| Q2 24 | $4.9B | $6.3B |
| Q1 26 | — | — | ||
| Q4 25 | 1.60× | — | ||
| Q3 25 | 1.76× | — | ||
| Q2 25 | 1.68× | 2.56× | ||
| Q1 25 | 1.57× | 2.61× | ||
| Q4 24 | 1.48× | 2.01× | ||
| Q3 24 | 1.36× | 1.88× | ||
| Q2 24 | 1.30× | 1.73× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $112.2M | — |
| Free Cash FlowOCF − Capex | $90.4M | — |
| FCF MarginFCF / Revenue | 15.2% | — |
| Capex IntensityCapex / Revenue | 3.7% | — |
| Cash ConversionOCF / Net Profit | 3.51× | — |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $112.2M | $275.3M | ||
| Q3 25 | $-6.1M | $240.0M | ||
| Q2 25 | $92.2M | $205.0M | ||
| Q1 25 | $191.4M | $256.4M | ||
| Q4 24 | $84.4M | $262.1M | ||
| Q3 24 | $17.3M | $231.2M | ||
| Q2 24 | $68.9M | $213.1M |
| Q1 26 | — | — | ||
| Q4 25 | $90.4M | $127.0M | ||
| Q3 25 | $-121.7M | $94.4M | ||
| Q2 25 | $-10.5M | $80.6M | ||
| Q1 25 | $116.9M | $86.5M | ||
| Q4 24 | $24.0M | $150.9M | ||
| Q3 24 | $-28.7M | $146.0M | ||
| Q2 24 | $7.0M | $98.7M |
| Q1 26 | — | — | ||
| Q4 25 | 15.2% | 12.0% | ||
| Q3 25 | -24.6% | 9.4% | ||
| Q2 25 | -1.7% | 7.8% | ||
| Q1 25 | 19.0% | 8.7% | ||
| Q4 24 | 4.3% | 14.5% | ||
| Q3 24 | -5.9% | 15.2% | ||
| Q2 24 | 1.2% | 10.2% |
| Q1 26 | — | — | ||
| Q4 25 | 3.7% | 14.0% | ||
| Q3 25 | 23.4% | 14.5% | ||
| Q2 25 | 16.6% | 12.0% | ||
| Q1 25 | 12.1% | 17.1% | ||
| Q4 24 | 10.9% | 10.7% | ||
| Q3 24 | 9.4% | 8.9% | ||
| Q2 24 | 10.4% | 11.8% |
| Q1 26 | — | — | ||
| Q4 25 | 3.51× | 1.96× | ||
| Q3 25 | — | 0.17× | ||
| Q2 25 | — | 1.35× | ||
| Q1 25 | 5.96× | 2.30× | ||
| Q4 24 | — | 1.54× | ||
| Q3 24 | — | 1.76× | ||
| Q2 24 | 5.03× | 1.52× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALGT
| Airrelatedrevenue | $307.1M | 52% |
| Scheduled Service Revenue | $267.1M | 45% |
| Cobrand Revenue | $21.3M | 4% |
| Other | $1.0K | 0% |
BYD
| Gaming | $650.5M | 65% |
| Online reimbursements | $135.4M | 14% |
| Food & beverage | $75.8M | 8% |
| Other | $63.5M | 6% |
| Room | $45.9M | 5% |
| Management fee | $26.2M | 3% |
