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Side-by-side financial comparison of BOYD GAMING CORP (BYD) and MERCURY GENERAL CORP (MCY). Click either name above to swap in a different company.
MERCURY GENERAL CORP is the larger business by last-quarter revenue ($1.5B vs $997.4M, roughly 1.5× BOYD GAMING CORP). MERCURY GENERAL CORP runs the higher net margin — 13.2% vs 10.5%, a 2.7% gap on every dollar of revenue. On growth, MERCURY GENERAL CORP posted the faster year-over-year revenue change (12.4% vs 0.6%). Over the past eight quarters, MERCURY GENERAL CORP's revenue compounded faster (9.8% CAGR vs 1.5%).
Boyd Gaming Corporation is an American gambling and hospitality company based in Paradise, Nevada, US.
Mercury General Corporation is a multiple-line insurance organization that offers personal automobiles, homeowners, renters, and business insurance. Mercury's primary focus is automobiles and homeowners' insurance.
BYD vs MCY — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $997.4M | $1.5B |
| Net Profit | $104.3M | $202.5M |
| Gross Margin | — | 99.7% |
| Operating Margin | 16.4% | 16.2% |
| Net Margin | 10.5% | 13.2% |
| Revenue YoY | 0.6% | 12.4% |
| Net Profit YoY | -5.9% | 100.4% |
| EPS (diluted) | $1.37 | $3.66 |
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 | $1.5B | ||
| Q3 25 | $1.0B | $1.6B | ||
| Q2 25 | $1.0B | $1.5B | ||
| Q1 25 | $991.6M | $1.4B | ||
| Q4 24 | $1.0B | $1.4B | ||
| Q3 24 | $961.2M | $1.5B | ||
| Q2 24 | $967.5M | $1.3B |
| Q1 26 | $104.3M | — | ||
| Q4 25 | $140.4M | $202.5M | ||
| Q3 25 | $1.4B | $280.4M | ||
| Q2 25 | $151.5M | $166.5M | ||
| Q1 25 | $111.4M | $-108.3M | ||
| Q4 24 | $170.5M | $101.1M | ||
| Q3 24 | $131.1M | $230.9M | ||
| Q2 24 | $139.8M | $62.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | 99.7% | ||
| Q3 25 | — | 99.8% | ||
| Q2 25 | — | 99.8% | ||
| Q1 25 | — | 99.7% | ||
| Q4 24 | — | 99.7% | ||
| Q3 24 | — | 99.8% | ||
| Q2 24 | — | 99.8% |
| Q1 26 | 16.4% | — | ||
| Q4 25 | 15.7% | 16.2% | ||
| Q3 25 | 13.9% | 22.1% | ||
| Q2 25 | 23.4% | 14.0% | ||
| Q1 25 | 20.2% | -10.2% | ||
| Q4 24 | 25.1% | 9.0% | ||
| Q3 24 | 22.9% | 18.8% | ||
| Q2 24 | 23.5% | 5.8% |
| Q1 26 | 10.5% | — | ||
| Q4 25 | 13.2% | 13.2% | ||
| Q3 25 | 143.4% | 17.7% | ||
| Q2 25 | 14.6% | 11.3% | ||
| Q1 25 | 11.2% | -7.8% | ||
| Q4 24 | 16.4% | 7.4% | ||
| Q3 24 | 13.6% | 15.1% | ||
| Q2 24 | 14.5% | 4.8% |
| Q1 26 | $1.37 | — | ||
| Q4 25 | $1.60 | $3.66 | ||
| Q3 25 | $17.81 | $5.06 | ||
| Q2 25 | $1.84 | $3.01 | ||
| Q1 25 | $1.31 | $-1.96 | ||
| Q4 24 | $1.89 | $1.82 | ||
| Q3 24 | $1.43 | $4.17 | ||
| Q2 24 | $1.47 | $1.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | — | $575.0M |
| Stockholders' EquityBook value | — | $2.4B |
| Total Assets | — | $9.6B |
| Debt / EquityLower = less leverage | — | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $353.4M | — | ||
| Q3 25 | $319.1M | — | ||
| Q2 25 | $320.1M | — | ||
| Q1 25 | $311.5M | — | ||
| Q4 24 | $316.7M | — | ||
| Q3 24 | $286.3M | — | ||
| Q2 24 | $280.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $575.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | $3.6B | — | ||
| Q1 25 | $3.5B | — | ||
| Q4 24 | $3.2B | $575.0M | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.0B | — |
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $2.4B | ||
| Q3 25 | $2.7B | $2.2B | ||
| Q2 25 | $1.4B | $2.0B | ||
| Q1 25 | $1.3B | $1.8B | ||
| Q4 24 | $1.6B | $1.9B | ||
| Q3 24 | $1.6B | $1.9B | ||
| Q2 24 | $1.7B | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | $6.6B | $9.6B | ||
| Q3 25 | $6.5B | $9.4B | ||
| Q2 25 | $6.6B | $9.1B | ||
| Q1 25 | $6.5B | $9.0B | ||
| Q4 24 | $6.4B | $8.3B | ||
| Q3 24 | $6.3B | $8.2B | ||
| Q2 24 | $6.3B | $7.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.24× | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.56× | — | ||
| Q1 25 | 2.61× | — | ||
| Q4 24 | 2.01× | 0.30× | ||
| 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 | — | $287.9M |
| Free Cash FlowOCF − Capex | — | $273.9M |
| FCF MarginFCF / Revenue | — | 17.8% |
| Capex IntensityCapex / Revenue | — | 0.9% |
| Cash ConversionOCF / Net Profit | — | 1.42× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.0B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $275.3M | $287.9M | ||
| Q3 25 | $240.0M | $496.4M | ||
| Q2 25 | $205.0M | $371.6M | ||
| Q1 25 | $256.4M | $-68.7M | ||
| Q4 24 | $262.1M | $248.3M | ||
| Q3 24 | $231.2M | $318.1M | ||
| Q2 24 | $213.1M | $278.0M |
| Q1 26 | — | — | ||
| Q4 25 | $127.0M | $273.9M | ||
| Q3 25 | $94.4M | $479.5M | ||
| Q2 25 | $80.6M | $357.2M | ||
| Q1 25 | $86.5M | $-81.9M | ||
| Q4 24 | $150.9M | $236.0M | ||
| Q3 24 | $146.0M | $306.2M | ||
| Q2 24 | $98.7M | $266.5M |
| Q1 26 | — | — | ||
| Q4 25 | 12.0% | 17.8% | ||
| Q3 25 | 9.4% | 30.3% | ||
| Q2 25 | 7.8% | 24.2% | ||
| Q1 25 | 8.7% | -5.9% | ||
| Q4 24 | 14.5% | 17.3% | ||
| Q3 24 | 15.2% | 20.0% | ||
| Q2 24 | 10.2% | 20.4% |
| Q1 26 | — | — | ||
| Q4 25 | 14.0% | 0.9% | ||
| Q3 25 | 14.5% | 1.1% | ||
| Q2 25 | 12.0% | 1.0% | ||
| Q1 25 | 17.1% | 0.9% | ||
| Q4 24 | 10.7% | 0.9% | ||
| Q3 24 | 8.9% | 0.8% | ||
| Q2 24 | 11.8% | 0.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.96× | 1.42× | ||
| Q3 25 | 0.17× | 1.77× | ||
| Q2 25 | 1.35× | 2.23× | ||
| Q1 25 | 2.30× | — | ||
| Q4 24 | 1.54× | 2.46× | ||
| Q3 24 | 1.76× | 1.38× | ||
| Q2 24 | 1.52× | 4.44× |
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% |
MCY
Segment breakdown not available.
