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Side-by-side financial comparison of BOYD GAMING CORP (BYD) and Medpace Holdings, Inc. (MEDP). Click either name above to swap in a different company.
BOYD GAMING CORP is the larger business by last-quarter revenue ($997.4M vs $708.5M, roughly 1.4× Medpace Holdings, Inc.). Medpace Holdings, Inc. runs the higher net margin — 19.1% vs 10.5%, a 8.6% gap on every dollar of revenue. On growth, Medpace Holdings, Inc. posted the faster year-over-year revenue change (32.0% vs 0.6%). Over the past eight quarters, Medpace Holdings, Inc.'s revenue compounded faster (17.7% CAGR vs 1.5%).
Boyd Gaming Corporation is an American gambling and hospitality company based in Paradise, Nevada, US.
Medpace Holdings, Inc. is a global clinical research organization (CRO) based in Cincinnati, Ohio, employing approximately 6,000 people. Operating under a full-service model, the company also offers global central laboratory, imaging core laboratory, and bioanalytical laboratory services, as well as a Phase I unit located on its headquarters and clinical research campus in Cincinnati, Ohio.
BYD vs MEDP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $997.4M | $708.5M |
| Net Profit | $104.3M | $135.1M |
| Gross Margin | — | — |
| Operating Margin | 16.4% | 21.6% |
| Net Margin | 10.5% | 19.1% |
| Revenue YoY | 0.6% | 32.0% |
| Net Profit YoY | -5.9% | 15.5% |
| EPS (diluted) | $1.37 | $4.65 |
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 | $708.5M | ||
| Q3 25 | $1.0B | $659.9M | ||
| Q2 25 | $1.0B | $603.3M | ||
| Q1 25 | $991.6M | $558.6M | ||
| Q4 24 | $1.0B | $536.6M | ||
| Q3 24 | $961.2M | $533.3M | ||
| Q2 24 | $967.5M | $528.1M |
| Q1 26 | $104.3M | — | ||
| Q4 25 | $140.4M | $135.1M | ||
| Q3 25 | $1.4B | $111.1M | ||
| Q2 25 | $151.5M | $90.3M | ||
| Q1 25 | $111.4M | $114.6M | ||
| Q4 24 | $170.5M | $117.0M | ||
| Q3 24 | $131.1M | $96.4M | ||
| Q2 24 | $139.8M | $88.4M |
| Q1 26 | 16.4% | — | ||
| Q4 25 | 15.7% | 21.6% | ||
| Q3 25 | 13.9% | 21.5% | ||
| Q2 25 | 23.4% | 20.9% | ||
| Q1 25 | 20.2% | 20.3% | ||
| Q4 24 | 25.1% | 23.4% | ||
| Q3 24 | 22.9% | 21.1% | ||
| Q2 24 | 23.5% | 19.9% |
| Q1 26 | 10.5% | — | ||
| Q4 25 | 13.2% | 19.1% | ||
| Q3 25 | 143.4% | 16.8% | ||
| Q2 25 | 14.6% | 15.0% | ||
| Q1 25 | 11.2% | 20.5% | ||
| Q4 24 | 16.4% | 21.8% | ||
| Q3 24 | 13.6% | 18.1% | ||
| Q2 24 | 14.5% | 16.7% |
| Q1 26 | $1.37 | — | ||
| Q4 25 | $1.60 | $4.65 | ||
| Q3 25 | $17.81 | $3.86 | ||
| Q2 25 | $1.84 | $3.10 | ||
| Q1 25 | $1.31 | $3.67 | ||
| Q4 24 | $1.89 | $3.67 | ||
| Q3 24 | $1.43 | $3.01 | ||
| Q2 24 | $1.47 | $2.75 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $497.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $459.1M |
| Total Assets | — | $2.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $353.4M | $497.0M | ||
| Q3 25 | $319.1M | $285.4M | ||
| Q2 25 | $320.1M | $46.3M | ||
| Q1 25 | $311.5M | $441.4M | ||
| Q4 24 | $316.7M | $669.4M | ||
| Q3 24 | $286.3M | $656.9M | ||
| Q2 24 | $280.8M | $510.9M |
| 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 | $2.6B | $459.1M | ||
| Q3 25 | $2.7B | $293.6M | ||
| Q2 25 | $1.4B | $172.4M | ||
| Q1 25 | $1.3B | $593.6M | ||
| Q4 24 | $1.6B | $825.5M | ||
| Q3 24 | $1.6B | $881.4M | ||
| Q2 24 | $1.7B | $763.6M |
| Q1 26 | — | — | ||
| Q4 25 | $6.6B | $2.0B | ||
| Q3 25 | $6.5B | $1.8B | ||
| Q2 25 | $6.6B | $1.6B | ||
| Q1 25 | $6.5B | $1.9B | ||
| Q4 24 | $6.4B | $2.1B | ||
| Q3 24 | $6.3B | $2.1B | ||
| Q2 24 | $6.3B | $1.9B |
| 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 | — | $192.7M |
| Free Cash FlowOCF − Capex | — | $188.1M |
| FCF MarginFCF / Revenue | — | 26.6% |
| Capex IntensityCapex / Revenue | — | 0.6% |
| Cash ConversionOCF / Net Profit | — | 1.43× |
| TTM Free Cash FlowTrailing 4 quarters | — | $681.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $275.3M | $192.7M | ||
| Q3 25 | $240.0M | $246.2M | ||
| Q2 25 | $205.0M | $148.5M | ||
| Q1 25 | $256.4M | $125.8M | ||
| Q4 24 | $262.1M | $190.7M | ||
| Q3 24 | $231.2M | $149.1M | ||
| Q2 24 | $213.1M | $116.4M |
| Q1 26 | — | — | ||
| Q4 25 | $127.0M | $188.1M | ||
| Q3 25 | $94.4M | $235.5M | ||
| Q2 25 | $80.6M | $142.4M | ||
| Q1 25 | $86.5M | $115.8M | ||
| Q4 24 | $150.9M | $183.0M | ||
| Q3 24 | $146.0M | $138.5M | ||
| Q2 24 | $98.7M | $103.5M |
| Q1 26 | — | — | ||
| Q4 25 | 12.0% | 26.6% | ||
| Q3 25 | 9.4% | 35.7% | ||
| Q2 25 | 7.8% | 23.6% | ||
| Q1 25 | 8.7% | 20.7% | ||
| Q4 24 | 14.5% | 34.1% | ||
| Q3 24 | 15.2% | 26.0% | ||
| Q2 24 | 10.2% | 19.6% |
| Q1 26 | — | — | ||
| Q4 25 | 14.0% | 0.6% | ||
| Q3 25 | 14.5% | 1.6% | ||
| Q2 25 | 12.0% | 1.0% | ||
| Q1 25 | 17.1% | 1.8% | ||
| Q4 24 | 10.7% | 1.4% | ||
| Q3 24 | 8.9% | 2.0% | ||
| Q2 24 | 11.8% | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.96× | 1.43× | ||
| Q3 25 | 0.17× | 2.22× | ||
| Q2 25 | 1.35× | 1.65× | ||
| Q1 25 | 2.30× | 1.10× | ||
| Q4 24 | 1.54× | 1.63× | ||
| Q3 24 | 1.76× | 1.55× | ||
| Q2 24 | 1.52× | 1.32× |
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% |
MEDP
| Metabolic | $249.8M | 35% |
| Oncology | $195.9M | 28% |
| Other | $88.3M | 12% |
| Central Nervous System | $73.2M | 10% |
| Cardiology | $63.0M | 9% |
| Antiviral And Anti Infective | $38.3M | 5% |
| Related Party | $10.3M | 1% |
