vs
Side-by-side financial comparison of Ardent Health, Inc. (ARDT) and BOYD GAMING CORP (BYD). Click either name above to swap in a different company.
Ardent Health, Inc. is the larger business by last-quarter revenue ($1.6B vs $997.4M, roughly 1.6× BOYD GAMING CORP). BOYD GAMING CORP runs the higher net margin — 10.5% vs 2.8%, a 7.7% gap on every dollar of revenue.
Goodlife Health Clubs is a chain of health clubs, with more than 80 locations in Australia.
Boyd Gaming Corporation is an American gambling and hospitality company based in Paradise, Nevada, US.
ARDT vs BYD — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $997.4M |
| Net Profit | $45.0M | $104.3M |
| Gross Margin | — | — |
| Operating Margin | 5.8% | 16.4% |
| Net Margin | 2.8% | 10.5% |
| Revenue YoY | — | 0.6% |
| Net Profit YoY | — | -5.9% |
| EPS (diluted) | $0.32 | $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 | $1.6B | $1.1B | ||
| Q3 25 | $1.6B | $1.0B | ||
| Q2 25 | $1.6B | $1.0B | ||
| Q1 25 | $1.5B | $991.6M | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | $1.4B | $961.2M | ||
| Q2 24 | $1.5B | $967.5M |
| Q1 26 | — | $104.3M | ||
| Q4 25 | $45.0M | $140.4M | ||
| Q3 25 | $-23.5M | $1.4B | ||
| Q2 25 | $73.0M | $151.5M | ||
| Q1 25 | $41.4M | $111.4M | ||
| Q4 24 | — | $170.5M | ||
| Q3 24 | $26.3M | $131.1M | ||
| Q2 24 | $42.8M | $139.8M |
| Q1 26 | — | 16.4% | ||
| Q4 25 | 5.8% | 15.7% | ||
| Q3 25 | -0.1% | 13.9% | ||
| Q2 25 | 7.4% | 23.4% | ||
| Q1 25 | 5.0% | 20.2% | ||
| Q4 24 | — | 25.1% | ||
| Q3 24 | 3.9% | 22.9% | ||
| Q2 24 | 5.6% | 23.5% |
| Q1 26 | — | 10.5% | ||
| Q4 25 | 2.8% | 13.2% | ||
| Q3 25 | -1.5% | 143.4% | ||
| Q2 25 | 4.4% | 14.6% | ||
| Q1 25 | 2.8% | 11.2% | ||
| Q4 24 | — | 16.4% | ||
| Q3 24 | 1.8% | 13.6% | ||
| Q2 24 | 2.9% | 14.5% |
| Q1 26 | — | $1.37 | ||
| Q4 25 | $0.32 | $1.60 | ||
| Q3 25 | $-0.17 | $17.81 | ||
| Q2 25 | $0.52 | $1.84 | ||
| Q1 25 | $0.29 | $1.31 | ||
| Q4 24 | — | $1.89 | ||
| Q3 24 | $0.19 | $1.43 | ||
| Q2 24 | $0.34 | $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 | $709.6M | — |
| Total DebtLower is stronger | $1.1B | — |
| Stockholders' EquityBook value | $1.3B | — |
| Total Assets | $5.3B | — |
| Debt / EquityLower = less leverage | 0.84× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $709.6M | $353.4M | ||
| Q3 25 | $609.4M | $319.1M | ||
| Q2 25 | $540.6M | $320.1M | ||
| Q1 25 | $495.0M | $311.5M | ||
| Q4 24 | — | $316.7M | ||
| Q3 24 | $563.1M | $286.3M | ||
| Q2 24 | $334.5M | $280.8M |
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | $3.6B | ||
| Q1 25 | $1.1B | $3.5B | ||
| Q4 24 | — | $3.2B | ||
| Q3 24 | $1.1B | $3.1B | ||
| Q2 24 | $1.1B | $3.0B |
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $2.6B | ||
| Q3 25 | $1.2B | $2.7B | ||
| Q2 25 | $1.3B | $1.4B | ||
| Q1 25 | $1.2B | $1.3B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | $1.0B | $1.6B | ||
| Q2 24 | $739.9M | $1.7B |
| Q1 26 | — | — | ||
| Q4 25 | $5.3B | $6.6B | ||
| Q3 25 | $5.2B | $6.5B | ||
| Q2 25 | $5.0B | $6.6B | ||
| Q1 25 | $4.9B | $6.5B | ||
| Q4 24 | — | $6.4B | ||
| Q3 24 | $4.8B | $6.3B | ||
| Q2 24 | $4.6B | $6.3B |
| Q1 26 | — | — | ||
| Q4 25 | 0.84× | — | ||
| Q3 25 | 0.88× | — | ||
| Q2 25 | 0.87× | 2.56× | ||
| Q1 25 | 0.93× | 2.61× | ||
| Q4 24 | — | 2.01× | ||
| Q3 24 | 1.08× | 1.88× | ||
| Q2 24 | 1.46× | 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 | $223.4M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 4.97× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $223.4M | $275.3M | ||
| Q3 25 | $154.4M | $240.0M | ||
| Q2 25 | $117.5M | $205.0M | ||
| Q1 25 | $-24.8M | $256.4M | ||
| Q4 24 | — | $262.1M | ||
| Q3 24 | $89.7M | $231.2M | ||
| Q2 24 | — | $213.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | $127.0M | ||
| Q3 25 | — | $94.4M | ||
| Q2 25 | — | $80.6M | ||
| Q1 25 | — | $86.5M | ||
| Q4 24 | — | $150.9M | ||
| Q3 24 | — | $146.0M | ||
| Q2 24 | — | $98.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | 12.0% | ||
| Q3 25 | — | 9.4% | ||
| Q2 25 | — | 7.8% | ||
| Q1 25 | — | 8.7% | ||
| Q4 24 | — | 14.5% | ||
| Q3 24 | — | 15.2% | ||
| Q2 24 | — | 10.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 14.0% | ||
| Q3 25 | — | 14.5% | ||
| Q2 25 | — | 12.0% | ||
| Q1 25 | — | 17.1% | ||
| Q4 24 | — | 10.7% | ||
| Q3 24 | — | 8.9% | ||
| Q2 24 | — | 11.8% |
| Q1 26 | — | — | ||
| Q4 25 | 4.97× | 1.96× | ||
| Q3 25 | — | 0.17× | ||
| Q2 25 | 1.61× | 1.35× | ||
| Q1 25 | -0.60× | 2.30× | ||
| Q4 24 | — | 1.54× | ||
| Q3 24 | 3.41× | 1.76× | ||
| Q2 24 | — | 1.52× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARDT
Segment breakdown not available.
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% |
