vs
Side-by-side financial comparison of BOYD GAMING CORP (BYD) and KENNAMETAL INC (KMT). Click either name above to swap in a different company.
BOYD GAMING CORP is the larger business by last-quarter revenue ($997.4M vs $529.5M, roughly 1.9× KENNAMETAL INC). BOYD GAMING CORP runs the higher net margin — 10.5% vs 6.4%, a 4.1% gap on every dollar of revenue. On growth, KENNAMETAL INC posted the faster year-over-year revenue change (9.8% vs 0.6%). Over the past eight quarters, BOYD GAMING CORP's revenue compounded faster (1.5% CAGR vs 1.3%).
Boyd Gaming Corporation is an American gambling and hospitality company based in Paradise, Nevada, US.
Kennametal, Inc. is a manufacturer of high-performance cutting tools and engineered components used in the aerospace, defense, transportation and oil and gas drilling industries. Its customer base is global.
BYD vs KMT — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $997.4M | $529.5M |
| Net Profit | $104.3M | $33.9M |
| Gross Margin | — | 32.8% |
| Operating Margin | 16.4% | 9.9% |
| Net Margin | 10.5% | 6.4% |
| Revenue YoY | 0.6% | 9.8% |
| Net Profit YoY | -5.9% | 89.0% |
| EPS (diluted) | $1.37 | $0.44 |
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 | $529.5M | ||
| Q3 25 | $1.0B | $498.0M | ||
| Q2 25 | $1.0B | $516.4M | ||
| Q1 25 | $991.6M | $486.4M | ||
| Q4 24 | $1.0B | $482.1M | ||
| Q3 24 | $961.2M | $481.9M | ||
| Q2 24 | $967.5M | $543.3M |
| Q1 26 | $104.3M | — | ||
| Q4 25 | $140.4M | $33.9M | ||
| Q3 25 | $1.4B | $23.3M | ||
| Q2 25 | $151.5M | $21.6M | ||
| Q1 25 | $111.4M | $31.5M | ||
| Q4 24 | $170.5M | $17.9M | ||
| Q3 24 | $131.1M | $22.1M | ||
| Q2 24 | $139.8M | $37.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 32.8% | ||
| Q3 25 | — | 31.0% | ||
| Q2 25 | — | 28.2% | ||
| Q1 25 | — | 32.1% | ||
| Q4 24 | — | 30.1% | ||
| Q3 24 | — | 31.3% | ||
| Q2 24 | — | 31.5% |
| Q1 26 | 16.4% | — | ||
| Q4 25 | 15.7% | 9.9% | ||
| Q3 25 | 13.9% | 7.5% | ||
| Q2 25 | 23.4% | 6.1% | ||
| Q1 25 | 20.2% | 9.1% | ||
| Q4 24 | 25.1% | 6.6% | ||
| Q3 24 | 22.9% | 7.5% | ||
| Q2 24 | 23.5% | 11.3% |
| Q1 26 | 10.5% | — | ||
| Q4 25 | 13.2% | 6.4% | ||
| Q3 25 | 143.4% | 4.7% | ||
| Q2 25 | 14.6% | 4.2% | ||
| Q1 25 | 11.2% | 6.5% | ||
| Q4 24 | 16.4% | 3.7% | ||
| Q3 24 | 13.6% | 4.6% | ||
| Q2 24 | 14.5% | 6.8% |
| Q1 26 | $1.37 | — | ||
| Q4 25 | $1.60 | $0.44 | ||
| Q3 25 | $17.81 | $0.30 | ||
| Q2 25 | $1.84 | $0.28 | ||
| Q1 25 | $1.31 | $0.41 | ||
| Q4 24 | $1.89 | $0.23 | ||
| Q3 24 | $1.43 | $0.28 | ||
| Q2 24 | $1.47 | $0.47 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $129.3M |
| Total DebtLower is stronger | — | $597.2M |
| Stockholders' EquityBook value | — | $1.3B |
| Total Assets | — | $2.6B |
| Debt / EquityLower = less leverage | — | 0.45× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $353.4M | $129.3M | ||
| Q3 25 | $319.1M | $103.5M | ||
| Q2 25 | $320.1M | $140.5M | ||
| Q1 25 | $311.5M | $97.5M | ||
| Q4 24 | $316.7M | $121.2M | ||
| Q3 24 | $286.3M | $119.6M | ||
| Q2 24 | $280.8M | $128.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $597.2M | ||
| Q3 25 | — | $597.0M | ||
| Q2 25 | $3.6B | $596.8M | ||
| Q1 25 | $3.5B | $596.6M | ||
| Q4 24 | $3.2B | $596.4M | ||
| Q3 24 | $3.1B | $596.2M | ||
| Q2 24 | $3.0B | $596.0M |
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $1.3B | ||
| Q3 25 | $2.7B | $1.3B | ||
| Q2 25 | $1.4B | $1.3B | ||
| Q1 25 | $1.3B | $1.2B | ||
| Q4 24 | $1.6B | $1.2B | ||
| Q3 24 | $1.6B | $1.3B | ||
| Q2 24 | $1.7B | $1.2B |
| Q1 26 | — | — | ||
| Q4 25 | $6.6B | $2.6B | ||
| Q3 25 | $6.5B | $2.5B | ||
| Q2 25 | $6.6B | $2.5B | ||
| Q1 25 | $6.5B | $2.5B | ||
| Q4 24 | $6.4B | $2.4B | ||
| Q3 24 | $6.3B | $2.5B | ||
| Q2 24 | $6.3B | $2.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.45× | ||
| Q3 25 | — | 0.46× | ||
| Q2 25 | 2.56× | 0.46× | ||
| Q1 25 | 2.61× | 0.48× | ||
| Q4 24 | 2.01× | 0.49× | ||
| Q3 24 | 1.88× | 0.47× | ||
| Q2 24 | 1.73× | 0.48× |
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 | — | $55.1M |
| Free Cash FlowOCF − Capex | — | $42.4M |
| FCF MarginFCF / Revenue | — | 8.0% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | — | 1.63× |
| TTM Free Cash FlowTrailing 4 quarters | — | $99.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $275.3M | $55.1M | ||
| Q3 25 | $240.0M | $17.5M | ||
| Q2 25 | $205.0M | $78.6M | ||
| Q1 25 | $256.4M | $28.8M | ||
| Q4 24 | $262.1M | $55.2M | ||
| Q3 24 | $231.2M | $45.7M | ||
| Q2 24 | $213.1M | $113.6M |
| Q1 26 | — | — | ||
| Q4 25 | $127.0M | $42.4M | ||
| Q3 25 | $94.4M | $-5.5M | ||
| Q2 25 | $80.6M | $57.1M | ||
| Q1 25 | $86.5M | $5.3M | ||
| Q4 24 | $150.9M | $35.9M | ||
| Q3 24 | $146.0M | $21.0M | ||
| Q2 24 | $98.7M | $90.3M |
| Q1 26 | — | — | ||
| Q4 25 | 12.0% | 8.0% | ||
| Q3 25 | 9.4% | -1.1% | ||
| Q2 25 | 7.8% | 11.1% | ||
| Q1 25 | 8.7% | 1.1% | ||
| Q4 24 | 14.5% | 7.5% | ||
| Q3 24 | 15.2% | 4.4% | ||
| Q2 24 | 10.2% | 16.6% |
| Q1 26 | — | — | ||
| Q4 25 | 14.0% | 2.4% | ||
| Q3 25 | 14.5% | 4.6% | ||
| Q2 25 | 12.0% | 4.2% | ||
| Q1 25 | 17.1% | 4.8% | ||
| Q4 24 | 10.7% | 4.0% | ||
| Q3 24 | 8.9% | 5.1% | ||
| Q2 24 | 11.8% | 4.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.96× | 1.63× | ||
| Q3 25 | 0.17× | 0.75× | ||
| Q2 25 | 1.35× | 3.64× | ||
| Q1 25 | 2.30× | 0.92× | ||
| Q4 24 | 1.54× | 3.08× | ||
| Q3 24 | 1.76× | 2.07× | ||
| Q2 24 | 1.52× | 3.06× |
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% |
KMT
| Metal Cutting | $331.1M | 63% |
| Infrastructure | $198.5M | 37% |
