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Side-by-side financial comparison of BELDEN INC. (BDC) 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 $720.1M, roughly 1.4× BELDEN INC.). BOYD GAMING CORP runs the higher net margin — 10.5% vs 9.4%, a 1.0% gap on every dollar of revenue. On growth, BELDEN INC. posted the faster year-over-year revenue change (8.1% vs 0.6%). Over the past eight quarters, BELDEN INC.'s revenue compounded faster (15.9% CAGR vs 1.5%).
Belden Inc. is an American, multinational, publicly traded company specializing in the design, manufacture, and distribution of end-to-end networking, security and connectivity products. The company serves the Industrial Automation Solutions, Smart Buildings and Broadband & 5G markets.
Boyd Gaming Corporation is an American gambling and hospitality company based in Paradise, Nevada, US.
BDC vs BYD — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $720.1M | $997.4M |
| Net Profit | $67.9M | $104.3M |
| Gross Margin | 36.6% | — |
| Operating Margin | 12.2% | 16.4% |
| Net Margin | 9.4% | 10.5% |
| Revenue YoY | 8.1% | 0.6% |
| Net Profit YoY | 16.3% | -5.9% |
| EPS (diluted) | $1.70 | $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 | $720.1M | $1.1B | ||
| Q3 25 | $698.2M | $1.0B | ||
| Q2 25 | $672.0M | $1.0B | ||
| Q1 25 | $624.9M | $991.6M | ||
| Q4 24 | $666.0M | $1.0B | ||
| Q3 24 | $654.9M | $961.2M | ||
| Q2 24 | $604.3M | $967.5M |
| Q1 26 | — | $104.3M | ||
| Q4 25 | $67.9M | $140.4M | ||
| Q3 25 | $56.7M | $1.4B | ||
| Q2 25 | $61.0M | $151.5M | ||
| Q1 25 | $51.9M | $111.4M | ||
| Q4 24 | $58.4M | $170.5M | ||
| Q3 24 | $53.7M | $131.1M | ||
| Q2 24 | $49.0M | $139.8M |
| Q1 26 | — | — | ||
| Q4 25 | 36.6% | — | ||
| Q3 25 | 37.7% | — | ||
| Q2 25 | 38.5% | — | ||
| Q1 25 | 39.3% | — | ||
| Q4 24 | 37.5% | — | ||
| Q3 24 | 37.3% | — | ||
| Q2 24 | 37.5% | — |
| Q1 26 | — | 16.4% | ||
| Q4 25 | 12.2% | 15.7% | ||
| Q3 25 | 10.9% | 13.9% | ||
| Q2 25 | 11.8% | 23.4% | ||
| Q1 25 | 11.6% | 20.2% | ||
| Q4 24 | 10.4% | 25.1% | ||
| Q3 24 | 11.5% | 22.9% | ||
| Q2 24 | 11.4% | 23.5% |
| Q1 26 | — | 10.5% | ||
| Q4 25 | 9.4% | 13.2% | ||
| Q3 25 | 8.1% | 143.4% | ||
| Q2 25 | 9.1% | 14.6% | ||
| Q1 25 | 8.3% | 11.2% | ||
| Q4 24 | 8.8% | 16.4% | ||
| Q3 24 | 8.2% | 13.6% | ||
| Q2 24 | 8.1% | 14.5% |
| Q1 26 | — | $1.37 | ||
| Q4 25 | $1.70 | $1.60 | ||
| Q3 25 | $1.41 | $17.81 | ||
| Q2 25 | $1.53 | $1.84 | ||
| Q1 25 | $1.27 | $1.31 | ||
| Q4 24 | $1.41 | $1.89 | ||
| Q3 24 | $1.30 | $1.43 | ||
| Q2 24 | $1.19 | $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 | $389.9M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.3B | — |
| Total Assets | $3.5B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $389.9M | $353.4M | ||
| Q3 25 | $314.3M | $319.1M | ||
| Q2 25 | $301.5M | $320.1M | ||
| Q1 25 | $259.0M | $311.5M | ||
| Q4 24 | $370.3M | $316.7M | ||
| Q3 24 | $323.0M | $286.3M | ||
| Q2 24 | $564.8M | $280.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $3.6B | ||
| Q1 25 | — | $3.5B | ||
| Q4 24 | — | $3.2B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $3.0B |
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $2.6B | ||
| Q3 25 | $1.2B | $2.7B | ||
| Q2 25 | $1.2B | $1.4B | ||
| Q1 25 | $1.2B | $1.3B | ||
| Q4 24 | $1.3B | $1.6B | ||
| Q3 24 | $1.2B | $1.6B | ||
| Q2 24 | $1.2B | $1.7B |
| Q1 26 | — | — | ||
| Q4 25 | $3.5B | $6.6B | ||
| Q3 25 | $3.4B | $6.5B | ||
| Q2 25 | $3.4B | $6.6B | ||
| Q1 25 | $3.3B | $6.5B | ||
| Q4 24 | $3.3B | $6.4B | ||
| Q3 24 | $3.3B | $6.3B | ||
| Q2 24 | $3.5B | $6.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.56× | ||
| Q1 25 | — | 2.61× | ||
| Q4 24 | — | 2.01× | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | — | 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 | $160.4M | — |
| Free Cash FlowOCF − Capex | $121.3M | — |
| FCF MarginFCF / Revenue | 16.8% | — |
| Capex IntensityCapex / Revenue | 5.4% | — |
| Cash ConversionOCF / Net Profit | 2.36× | — |
| TTM Free Cash FlowTrailing 4 quarters | $218.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $160.4M | $275.3M | ||
| Q3 25 | $105.0M | $240.0M | ||
| Q2 25 | $82.0M | $205.0M | ||
| Q1 25 | $7.4M | $256.4M | ||
| Q4 24 | $174.7M | $262.1M | ||
| Q3 24 | $91.7M | $231.2M | ||
| Q2 24 | $83.0M | $213.1M |
| Q1 26 | — | — | ||
| Q4 25 | $121.3M | $127.0M | ||
| Q3 25 | $65.3M | $94.4M | ||
| Q2 25 | $56.9M | $80.6M | ||
| Q1 25 | $-24.8M | $86.5M | ||
| Q4 24 | $116.4M | $150.9M | ||
| Q3 24 | $67.2M | $146.0M | ||
| Q2 24 | $61.0M | $98.7M |
| Q1 26 | — | — | ||
| Q4 25 | 16.8% | 12.0% | ||
| Q3 25 | 9.4% | 9.4% | ||
| Q2 25 | 8.5% | 7.8% | ||
| Q1 25 | -4.0% | 8.7% | ||
| Q4 24 | 17.5% | 14.5% | ||
| Q3 24 | 10.3% | 15.2% | ||
| Q2 24 | 10.1% | 10.2% |
| Q1 26 | — | — | ||
| Q4 25 | 5.4% | 14.0% | ||
| Q3 25 | 5.7% | 14.5% | ||
| Q2 25 | 3.7% | 12.0% | ||
| Q1 25 | 5.2% | 17.1% | ||
| Q4 24 | 8.8% | 10.7% | ||
| Q3 24 | 3.7% | 8.9% | ||
| Q2 24 | 3.6% | 11.8% |
| Q1 26 | — | — | ||
| Q4 25 | 2.36× | 1.96× | ||
| Q3 25 | 1.85× | 0.17× | ||
| Q2 25 | 1.34× | 1.35× | ||
| Q1 25 | 0.14× | 2.30× | ||
| Q4 24 | 2.99× | 1.54× | ||
| Q3 24 | 1.71× | 1.76× | ||
| Q2 24 | 1.69× | 1.52× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BDC
| Automation Solutions Segment | $397.7M | 55% |
| Broadband Solutions | $164.8M | 23% |
| Smart Buildings Solutions | $157.7M | 22% |
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% |
