vs
Side-by-side financial comparison of BWX Technologies, Inc. (BWXT) 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 $885.8M, roughly 1.1× BWX Technologies, Inc.). BWX Technologies, Inc. runs the higher net margin — 10.5% vs 10.5%, a 0.0% gap on every dollar of revenue. On growth, BWX Technologies, Inc. posted the faster year-over-year revenue change (18.7% vs 0.6%). Over the past eight quarters, BWX Technologies, Inc.'s revenue compounded faster (21.1% CAGR vs 1.5%).
BWX Technologies, Inc. is a company headquartered in Lynchburg, Virginia that supplies nuclear components and fuel internationally.
Boyd Gaming Corporation is an American gambling and hospitality company based in Paradise, Nevada, US.
BWXT vs BYD — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $885.8M | $997.4M |
| Net Profit | $93.0M | $104.3M |
| Gross Margin | — | — |
| Operating Margin | 10.4% | 16.4% |
| Net Margin | 10.5% | 10.5% |
| Revenue YoY | 18.7% | 0.6% |
| Net Profit YoY | 30.9% | -5.9% |
| EPS (diluted) | $1.02 | $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 | $885.8M | $1.1B | ||
| Q3 25 | $866.3M | $1.0B | ||
| Q2 25 | $764.0M | $1.0B | ||
| Q1 25 | $682.3M | $991.6M | ||
| Q4 24 | $746.3M | $1.0B | ||
| Q3 24 | $672.0M | $961.2M | ||
| Q2 24 | $681.5M | $967.5M |
| Q1 26 | — | $104.3M | ||
| Q4 25 | $93.0M | $140.4M | ||
| Q3 25 | $82.1M | $1.4B | ||
| Q2 25 | $78.4M | $151.5M | ||
| Q1 25 | $75.5M | $111.4M | ||
| Q4 24 | $71.0M | $170.5M | ||
| Q3 24 | $69.5M | $131.1M | ||
| Q2 24 | $73.0M | $139.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 21.8% | — | ||
| Q2 25 | 25.1% | — | ||
| Q1 25 | 24.2% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 24.4% | — | ||
| Q2 24 | 24.7% | — |
| Q1 26 | — | 16.4% | ||
| Q4 25 | 10.4% | 15.7% | ||
| Q3 25 | 13.1% | 13.9% | ||
| Q2 25 | 13.4% | 23.4% | ||
| Q1 25 | 14.2% | 20.2% | ||
| Q4 24 | 12.4% | 25.1% | ||
| Q3 24 | 14.4% | 22.9% | ||
| Q2 24 | 14.5% | 23.5% |
| Q1 26 | — | 10.5% | ||
| Q4 25 | 10.5% | 13.2% | ||
| Q3 25 | 9.5% | 143.4% | ||
| Q2 25 | 10.3% | 14.6% | ||
| Q1 25 | 11.1% | 11.2% | ||
| Q4 24 | 9.5% | 16.4% | ||
| Q3 24 | 10.3% | 13.6% | ||
| Q2 24 | 10.7% | 14.5% |
| Q1 26 | — | $1.37 | ||
| Q4 25 | $1.02 | $1.60 | ||
| Q3 25 | $0.89 | $17.81 | ||
| Q2 25 | $0.85 | $1.84 | ||
| Q1 25 | $0.82 | $1.31 | ||
| Q4 24 | $0.77 | $1.89 | ||
| Q3 24 | $0.76 | $1.43 | ||
| Q2 24 | $0.79 | $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 | $499.8M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.2B | — |
| Total Assets | $4.3B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $499.8M | $353.4M | ||
| Q3 25 | $79.6M | $319.1M | ||
| Q2 25 | $37.0M | $320.1M | ||
| Q1 25 | $55.4M | $311.5M | ||
| Q4 24 | $74.1M | $316.7M | ||
| Q3 24 | $35.5M | $286.3M | ||
| Q2 24 | $48.3M | $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 | $1.2B | $2.6B | ||
| Q3 25 | $1.2B | $2.7B | ||
| Q2 25 | $1.2B | $1.4B | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.1B | $1.6B | ||
| Q3 24 | $1.1B | $1.6B | ||
| Q2 24 | $998.5M | $1.7B |
| Q1 26 | — | — | ||
| Q4 25 | $4.3B | $6.6B | ||
| Q3 25 | $3.8B | $6.5B | ||
| Q2 25 | $3.7B | $6.6B | ||
| Q1 25 | $3.1B | $6.5B | ||
| Q4 24 | $2.9B | $6.4B | ||
| Q3 24 | $2.9B | $6.3B | ||
| Q2 24 | $2.8B | $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 | $127.0M | — |
| Free Cash FlowOCF − Capex | $56.8M | — |
| FCF MarginFCF / Revenue | 6.4% | — |
| Capex IntensityCapex / Revenue | 7.9% | — |
| Cash ConversionOCF / Net Profit | 1.37× | — |
| TTM Free Cash FlowTrailing 4 quarters | $295.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $127.0M | $275.3M | ||
| Q3 25 | $143.2M | $240.0M | ||
| Q2 25 | $159.0M | $205.0M | ||
| Q1 25 | $50.6M | $256.4M | ||
| Q4 24 | $276.9M | $262.1M | ||
| Q3 24 | $32.6M | $231.2M | ||
| Q2 24 | $65.9M | $213.1M |
| Q1 26 | — | — | ||
| Q4 25 | $56.8M | $127.0M | ||
| Q3 25 | $94.9M | $94.4M | ||
| Q2 25 | $126.3M | $80.6M | ||
| Q1 25 | $17.3M | $86.5M | ||
| Q4 24 | $224.4M | $150.9M | ||
| Q3 24 | $-7.7M | $146.0M | ||
| Q2 24 | $35.5M | $98.7M |
| Q1 26 | — | — | ||
| Q4 25 | 6.4% | 12.0% | ||
| Q3 25 | 11.0% | 9.4% | ||
| Q2 25 | 16.5% | 7.8% | ||
| Q1 25 | 2.5% | 8.7% | ||
| Q4 24 | 30.1% | 14.5% | ||
| Q3 24 | -1.1% | 15.2% | ||
| Q2 24 | 5.2% | 10.2% |
| Q1 26 | — | — | ||
| Q4 25 | 7.9% | 14.0% | ||
| Q3 25 | 5.6% | 14.5% | ||
| Q2 25 | 4.3% | 12.0% | ||
| Q1 25 | 4.9% | 17.1% | ||
| Q4 24 | 7.0% | 10.7% | ||
| Q3 24 | 6.0% | 8.9% | ||
| Q2 24 | 4.5% | 11.8% |
| Q1 26 | — | — | ||
| Q4 25 | 1.37× | 1.96× | ||
| Q3 25 | 1.74× | 0.17× | ||
| Q2 25 | 2.03× | 1.35× | ||
| Q1 25 | 0.67× | 2.30× | ||
| Q4 24 | 3.90× | 1.54× | ||
| Q3 24 | 0.47× | 1.76× | ||
| Q2 24 | 0.90× | 1.52× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BWXT
| Nuclear Component Program | $436.4M | 49% |
| Nuclear Manufacturing | $134.8M | 15% |
| Cost Plus Fee | $116.1M | 13% |
| Uranium And Nuclear Services | $103.8M | 12% |
| Commercial Operations | $49.0M | 6% |
| Commercial Operations Segment | $33.7M | 4% |
| Transferred At Point In Time | $1.3M | 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% |
