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Side-by-side financial comparison of BOYD GAMING CORP (BYD) and Dream Finders Homes, Inc. (DFH). Click either name above to swap in a different company.
Dream Finders Homes, Inc. is the larger business by last-quarter revenue ($1.2B vs $997.4M, roughly 1.2× BOYD GAMING CORP). BOYD GAMING CORP runs the higher net margin — 10.5% vs 4.8%, a 5.6% gap on every dollar of revenue. On growth, BOYD GAMING CORP posted the faster year-over-year revenue change (0.6% vs -22.3%). Over the past eight quarters, Dream Finders Homes, Inc.'s revenue compounded faster (21.0% CAGR vs 1.5%).
Boyd Gaming Corporation is an American gambling and hospitality company based in Paradise, Nevada, US.
Dream Finders Homes, Inc. is a U.S. homebuilding firm that constructs and sells entry-level to luxury residential properties, including single-family homes and townhomes, across high-growth domestic markets. It also provides mortgage, title insurance and home warranty services for homebuyers.
BYD vs DFH — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $997.4M | $1.2B |
| Net Profit | $104.3M | $58.8M |
| Gross Margin | — | — |
| Operating Margin | 16.4% | 6.4% |
| Net Margin | 10.5% | 4.8% |
| Revenue YoY | 0.6% | -22.3% |
| Net Profit YoY | -5.9% | -54.9% |
| EPS (diluted) | $1.37 | $0.57 |
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 | $1.1B | $1.2B | ||
| Q3 25 | $1.0B | $969.8M | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $991.6M | $989.9M | ||
| Q4 24 | $1.0B | $1.6B | ||
| Q3 24 | $961.2M | $1.0B | ||
| Q2 24 | $967.5M | $1.1B |
| Q1 26 | $104.3M | — | ||
| Q4 25 | $140.4M | $58.8M | ||
| Q3 25 | $1.4B | $47.0M | ||
| Q2 25 | $151.5M | $56.6M | ||
| Q1 25 | $111.4M | $54.9M | ||
| Q4 24 | $170.5M | $130.5M | ||
| Q3 24 | $131.1M | $70.7M | ||
| Q2 24 | $139.8M | $80.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 19.2% |
| Q1 26 | 16.4% | — | ||
| Q4 25 | 15.7% | 6.4% | ||
| Q3 25 | 13.9% | 6.3% | ||
| Q2 25 | 23.4% | 6.4% | ||
| Q1 25 | 20.2% | 7.2% | ||
| Q4 24 | 25.1% | 10.8% | ||
| Q3 24 | 22.9% | 9.2% | ||
| Q2 24 | 23.5% | 10.0% |
| Q1 26 | 10.5% | — | ||
| Q4 25 | 13.2% | 4.8% | ||
| Q3 25 | 143.4% | 4.8% | ||
| Q2 25 | 14.6% | 4.9% | ||
| Q1 25 | 11.2% | 5.5% | ||
| Q4 24 | 16.4% | 8.4% | ||
| Q3 24 | 13.6% | 7.0% | ||
| Q2 24 | 14.5% | 7.7% |
| Q1 26 | $1.37 | — | ||
| Q4 25 | $1.60 | $0.57 | ||
| Q3 25 | $17.81 | $0.47 | ||
| Q2 25 | $1.84 | $0.56 | ||
| Q1 25 | $1.31 | $0.54 | ||
| Q4 24 | $1.89 | $1.28 | ||
| Q3 24 | $1.43 | $0.70 | ||
| Q2 24 | $1.47 | $0.81 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $234.8M |
| Total DebtLower is stronger | — | $1.6B |
| Stockholders' EquityBook value | — | $1.4B |
| Total Assets | — | $3.7B |
| Debt / EquityLower = less leverage | — | 1.13× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $353.4M | $234.8M | ||
| Q3 25 | $319.1M | $251.0M | ||
| Q2 25 | $320.1M | $210.3M | ||
| Q1 25 | $311.5M | $297.5M | ||
| Q4 24 | $316.7M | $274.4M | ||
| Q3 24 | $286.3M | $204.9M | ||
| Q2 24 | $280.8M | $274.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | $3.6B | — | ||
| Q1 25 | $3.5B | — | ||
| Q4 24 | $3.2B | $1.3B | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.0B | — |
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $1.4B | ||
| Q3 25 | $2.7B | $1.4B | ||
| Q2 25 | $1.4B | $1.3B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.6B | $1.2B | ||
| Q3 24 | $1.6B | $1.1B | ||
| Q2 24 | $1.7B | $1.0B |
| Q1 26 | — | — | ||
| Q4 25 | $6.6B | $3.7B | ||
| Q3 25 | $6.5B | $3.8B | ||
| Q2 25 | $6.6B | $3.7B | ||
| Q1 25 | $6.5B | $3.5B | ||
| Q4 24 | $6.4B | $3.3B | ||
| Q3 24 | $6.3B | $3.3B | ||
| Q2 24 | $6.3B | $3.0B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.13× | ||
| Q3 25 | — | 1.29× | ||
| Q2 25 | 2.56× | — | ||
| Q1 25 | 2.61× | — | ||
| Q4 24 | 2.01× | 1.03× | ||
| 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 | — | $143.6M |
| Free Cash FlowOCF − Capex | — | $136.0M |
| FCF MarginFCF / Revenue | — | 11.2% |
| Capex IntensityCapex / Revenue | — | 0.6% |
| Cash ConversionOCF / Net Profit | — | 2.44× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-126.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $275.3M | $143.6M | ||
| Q3 25 | $240.0M | $-131.0M | ||
| Q2 25 | $205.0M | $-68.5M | ||
| Q1 25 | $256.4M | $-44.7M | ||
| Q4 24 | $262.1M | $306.5M | ||
| Q3 24 | $231.2M | $-205.0M | ||
| Q2 24 | $213.1M | $-110.6M |
| Q1 26 | — | — | ||
| Q4 25 | $127.0M | $136.0M | ||
| Q3 25 | $94.4M | $-135.7M | ||
| Q2 25 | $80.6M | $-78.8M | ||
| Q1 25 | $86.5M | $-47.9M | ||
| Q4 24 | $150.9M | $302.6M | ||
| Q3 24 | $146.0M | $-222.5M | ||
| Q2 24 | $98.7M | $-112.4M |
| Q1 26 | — | — | ||
| Q4 25 | 12.0% | 11.2% | ||
| Q3 25 | 9.4% | -14.0% | ||
| Q2 25 | 7.8% | -6.8% | ||
| Q1 25 | 8.7% | -4.8% | ||
| Q4 24 | 14.5% | 19.4% | ||
| Q3 24 | 15.2% | -22.1% | ||
| Q2 24 | 10.2% | -10.6% |
| Q1 26 | — | — | ||
| Q4 25 | 14.0% | 0.6% | ||
| Q3 25 | 14.5% | 0.5% | ||
| Q2 25 | 12.0% | 0.9% | ||
| Q1 25 | 17.1% | 0.3% | ||
| Q4 24 | 10.7% | 0.3% | ||
| Q3 24 | 8.9% | 1.7% | ||
| Q2 24 | 11.8% | 0.2% |
| Q1 26 | — | — | ||
| Q4 25 | 1.96× | 2.44× | ||
| Q3 25 | 0.17× | -2.79× | ||
| Q2 25 | 1.35× | -1.21× | ||
| Q1 25 | 2.30× | -0.81× | ||
| Q4 24 | 1.54× | 2.35× | ||
| Q3 24 | 1.76× | -2.90× | ||
| Q2 24 | 1.52× | -1.37× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
DFH
| Midwest Segment | $454.2M | 37% |
| Southeast Segment | $397.5M | 33% |
| Mid Atlantic Segment | $307.3M | 25% |
| Financial Services Segment | $53.7M | 4% |
