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Side-by-side financial comparison of BOYD GAMING CORP (BYD) and Installed Building Products, Inc. (IBP). Click either name above to swap in a different company.
BOYD GAMING CORP is the larger business by last-quarter revenue ($997.4M vs $747.5M, roughly 1.3× Installed Building Products, Inc.). BOYD GAMING CORP runs the higher net margin — 10.5% vs 10.2%, a 0.2% gap on every dollar of revenue. On growth, BOYD GAMING CORP posted the faster year-over-year revenue change (0.6% vs -0.4%). Over the past eight quarters, Installed Building Products, Inc.'s revenue compounded faster (3.9% CAGR vs 1.5%).
Boyd Gaming Corporation is an American gambling and hospitality company based in Paradise, Nevada, US.
Installed Building Products, Inc. is a leading US-based provider of professional installation services for building products. Core offerings include insulation, gutters, garage doors, fire protection systems and window treatments, serving residential new construction, repair & remodel, and commercial construction segments across most US regions.
BYD vs IBP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $997.4M | $747.5M |
| Net Profit | $104.3M | $76.6M |
| Gross Margin | — | 35.0% |
| Operating Margin | 16.4% | 14.6% |
| Net Margin | 10.5% | 10.2% |
| Revenue YoY | 0.6% | -0.4% |
| Net Profit YoY | -5.9% | 14.5% |
| EPS (diluted) | $1.37 | $2.81 |
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 | $747.5M | ||
| Q3 25 | $1.0B | $778.2M | ||
| Q2 25 | $1.0B | $760.3M | ||
| Q1 25 | $991.6M | $684.8M | ||
| Q4 24 | $1.0B | $750.2M | ||
| Q3 24 | $961.2M | $760.6M | ||
| Q2 24 | $967.5M | $737.6M |
| Q1 26 | $104.3M | — | ||
| Q4 25 | $140.4M | $76.6M | ||
| Q3 25 | $1.4B | $74.4M | ||
| Q2 25 | $151.5M | $69.0M | ||
| Q1 25 | $111.4M | $45.4M | ||
| Q4 24 | $170.5M | $66.9M | ||
| Q3 24 | $131.1M | $68.6M | ||
| Q2 24 | $139.8M | $65.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 35.0% | ||
| Q3 25 | — | 34.0% | ||
| Q2 25 | — | 34.2% | ||
| Q1 25 | — | 32.7% | ||
| Q4 24 | — | 33.6% | ||
| Q3 24 | — | 33.8% | ||
| Q2 24 | — | 34.1% |
| Q1 26 | 16.4% | — | ||
| Q4 25 | 15.7% | 14.6% | ||
| Q3 25 | 13.9% | 13.7% | ||
| Q2 25 | 23.4% | 13.3% | ||
| Q1 25 | 20.2% | 10.2% | ||
| Q4 24 | 25.1% | 13.1% | ||
| Q3 24 | 22.9% | 13.3% | ||
| Q2 24 | 23.5% | 12.9% |
| Q1 26 | 10.5% | — | ||
| Q4 25 | 13.2% | 10.2% | ||
| Q3 25 | 143.4% | 9.6% | ||
| Q2 25 | 14.6% | 9.1% | ||
| Q1 25 | 11.2% | 6.6% | ||
| Q4 24 | 16.4% | 8.9% | ||
| Q3 24 | 13.6% | 9.0% | ||
| Q2 24 | 14.5% | 8.8% |
| Q1 26 | $1.37 | — | ||
| Q4 25 | $1.60 | $2.81 | ||
| Q3 25 | $17.81 | $2.74 | ||
| Q2 25 | $1.84 | $2.52 | ||
| Q1 25 | $1.31 | $1.64 | ||
| Q4 24 | $1.89 | $2.39 | ||
| Q3 24 | $1.43 | $2.44 | ||
| Q2 24 | $1.47 | $2.30 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $321.9M |
| Total DebtLower is stronger | — | $886.6M |
| Stockholders' EquityBook value | — | $709.9M |
| Total Assets | — | $2.1B |
| Debt / EquityLower = less leverage | — | 1.25× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $353.4M | $321.9M | ||
| Q3 25 | $319.1M | $333.3M | ||
| Q2 25 | $320.1M | $305.2M | ||
| Q1 25 | $311.5M | $298.7M | ||
| Q4 24 | $316.7M | $327.6M | ||
| Q3 24 | $286.3M | $406.2M | ||
| Q2 24 | $280.8M | $380.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $886.6M | ||
| Q3 25 | — | $880.8M | ||
| Q2 25 | $3.6B | $876.1M | ||
| Q1 25 | $3.5B | $872.4M | ||
| Q4 24 | $3.2B | $874.8M | ||
| Q3 24 | $3.1B | $872.3M | ||
| Q2 24 | $3.0B | $875.8M |
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $709.9M | ||
| Q3 25 | $2.7B | $678.6M | ||
| Q2 25 | $1.4B | $664.5M | ||
| Q1 25 | $1.3B | $660.9M | ||
| Q4 24 | $1.6B | $705.3M | ||
| Q3 24 | $1.6B | $716.4M | ||
| Q2 24 | $1.7B | $685.3M |
| Q1 26 | — | — | ||
| Q4 25 | $6.6B | $2.1B | ||
| Q3 25 | $6.5B | $2.1B | ||
| Q2 25 | $6.6B | $2.0B | ||
| Q1 25 | $6.5B | $2.0B | ||
| Q4 24 | $6.4B | $2.1B | ||
| Q3 24 | $6.3B | $2.1B | ||
| Q2 24 | $6.3B | $2.0B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.25× | ||
| Q3 25 | — | 1.30× | ||
| Q2 25 | 2.56× | 1.32× | ||
| Q1 25 | 2.61× | 1.32× | ||
| Q4 24 | 2.01× | 1.24× | ||
| Q3 24 | 1.88× | 1.22× | ||
| Q2 24 | 1.73× | 1.28× |
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 | — | $64.9M |
| Free Cash FlowOCF − Capex | — | $49.3M |
| FCF MarginFCF / Revenue | — | 6.6% |
| Capex IntensityCapex / Revenue | — | 2.1% |
| Cash ConversionOCF / Net Profit | — | 0.85× |
| TTM Free Cash FlowTrailing 4 quarters | — | $300.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $275.3M | $64.9M | ||
| Q3 25 | $240.0M | $124.0M | ||
| Q2 25 | $205.0M | $90.4M | ||
| Q1 25 | $256.4M | $92.1M | ||
| Q4 24 | $262.1M | $74.8M | ||
| Q3 24 | $231.2M | $101.4M | ||
| Q2 24 | $213.1M | $79.0M |
| Q1 26 | — | — | ||
| Q4 25 | $127.0M | $49.3M | ||
| Q3 25 | $94.4M | $104.8M | ||
| Q2 25 | $80.6M | $74.8M | ||
| Q1 25 | $86.5M | $71.9M | ||
| Q4 24 | $150.9M | $52.9M | ||
| Q3 24 | $146.0M | $77.3M | ||
| Q2 24 | $98.7M | $58.2M |
| Q1 26 | — | — | ||
| Q4 25 | 12.0% | 6.6% | ||
| Q3 25 | 9.4% | 13.5% | ||
| Q2 25 | 7.8% | 9.8% | ||
| Q1 25 | 8.7% | 10.5% | ||
| Q4 24 | 14.5% | 7.1% | ||
| Q3 24 | 15.2% | 10.2% | ||
| Q2 24 | 10.2% | 7.9% |
| Q1 26 | — | — | ||
| Q4 25 | 14.0% | 2.1% | ||
| Q3 25 | 14.5% | 2.5% | ||
| Q2 25 | 12.0% | 2.1% | ||
| Q1 25 | 17.1% | 2.9% | ||
| Q4 24 | 10.7% | 2.9% | ||
| Q3 24 | 8.9% | 3.2% | ||
| Q2 24 | 11.8% | 2.8% |
| Q1 26 | — | — | ||
| Q4 25 | 1.96× | 0.85× | ||
| Q3 25 | 0.17× | 1.67× | ||
| Q2 25 | 1.35× | 1.31× | ||
| Q1 25 | 2.30× | 2.03× | ||
| Q4 24 | 1.54× | 1.12× | ||
| Q3 24 | 1.76× | 1.48× | ||
| Q2 24 | 1.52× | 1.21× |
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% |
IBP
| Residential New Construction | $488.6M | 65% |
| Other Customer Installation | $67.8M | 9% |
| Shower Doors Shelving And Mirrors | $53.5M | 7% |
| Other Building Products | $47.7M | 6% |
| Fireproofing And Firestopping | $37.6M | 5% |
| Rain Gutters | $31.3M | 4% |
| Window Blinds | $18.0M | 2% |
| Related Party | $6.7M | 1% |
