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Side-by-side financial comparison of BOYD GAMING CORP (BYD) and M/I HOMES, INC. (MHO). Click either name above to swap in a different company.
M/I HOMES, INC. is the larger business by last-quarter revenue ($1.1B vs $997.4M, roughly 1.2× BOYD GAMING CORP). BOYD GAMING CORP runs the higher net margin — 10.5% vs 5.6%, a 4.9% gap on every dollar of revenue. On growth, BOYD GAMING CORP posted the faster year-over-year revenue change (0.6% vs -4.8%). Over the past eight quarters, M/I HOMES, INC.'s revenue compounded faster (4.7% CAGR vs 1.5%).
Boyd Gaming Corporation is an American gambling and hospitality company based in Paradise, Nevada, US.
M/I Homes, Inc. is a leading U.S. residential construction company that designs, builds and sells single-family homes, townhomes and duplexes across multiple U.S. states. It caters to entry-level, move-up and luxury homebuyers, offering energy-efficient designs, flexible floor plans and personalized customization options.
BYD vs MHO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $997.4M | $1.1B |
| Net Profit | $104.3M | $64.0M |
| Gross Margin | — | 17.4% |
| Operating Margin | 16.4% | 6.5% |
| Net Margin | 10.5% | 5.6% |
| Revenue YoY | 0.6% | -4.8% |
| Net Profit YoY | -5.9% | -52.1% |
| EPS (diluted) | $1.37 | $2.42 |
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 | $1.1B | ||
| Q3 25 | $1.0B | $1.1B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $991.6M | $976.1M | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $961.2M | $1.1B | ||
| Q2 24 | $967.5M | $1.1B |
| Q1 26 | $104.3M | — | ||
| Q4 25 | $140.4M | $64.0M | ||
| Q3 25 | $1.4B | $106.5M | ||
| Q2 25 | $151.5M | $121.2M | ||
| Q1 25 | $111.4M | $111.2M | ||
| Q4 24 | $170.5M | $133.5M | ||
| Q3 24 | $131.1M | $145.4M | ||
| Q2 24 | $139.8M | $146.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | 17.4% | ||
| Q3 25 | — | 24.5% | ||
| Q2 25 | — | 24.7% | ||
| Q1 25 | — | 25.9% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 27.1% | ||
| Q2 24 | — | 27.9% |
| Q1 26 | 16.4% | — | ||
| Q4 25 | 15.7% | 6.5% | ||
| Q3 25 | 13.9% | 12.0% | ||
| Q2 25 | 23.4% | 13.4% | ||
| Q1 25 | 20.2% | 14.4% | ||
| Q4 24 | 25.1% | 13.6% | ||
| Q3 24 | 22.9% | 15.9% | ||
| Q2 24 | 23.5% | 16.8% |
| Q1 26 | 10.5% | — | ||
| Q4 25 | 13.2% | 5.6% | ||
| Q3 25 | 143.4% | 9.4% | ||
| Q2 25 | 14.6% | 10.4% | ||
| Q1 25 | 11.2% | 11.4% | ||
| Q4 24 | 16.4% | 11.1% | ||
| Q3 24 | 13.6% | 12.7% | ||
| Q2 24 | 14.5% | 13.2% |
| Q1 26 | $1.37 | — | ||
| Q4 25 | $1.60 | $2.42 | ||
| Q3 25 | $17.81 | $3.92 | ||
| Q2 25 | $1.84 | $4.42 | ||
| Q1 25 | $1.31 | $3.98 | ||
| Q4 24 | $1.89 | $4.71 | ||
| Q3 24 | $1.43 | $5.10 | ||
| Q2 24 | $1.47 | $5.12 |
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 | — | — |
| Stockholders' EquityBook value | — | $3.2B |
| Total Assets | — | $4.8B |
| Debt / EquityLower = less leverage | — | — |
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 | — | — | ||
| 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 | $3.2B | ||
| Q3 25 | $2.7B | $3.1B | ||
| Q2 25 | $1.4B | $3.1B | ||
| Q1 25 | $1.3B | $3.0B | ||
| Q4 24 | $1.6B | $2.9B | ||
| Q3 24 | $1.6B | $2.8B | ||
| Q2 24 | $1.7B | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | $6.6B | $4.8B | ||
| Q3 25 | $6.5B | $4.8B | ||
| Q2 25 | $6.6B | $4.7B | ||
| Q1 25 | $6.5B | $4.6B | ||
| Q4 24 | $6.4B | $4.5B | ||
| Q3 24 | $6.3B | $4.5B | ||
| Q2 24 | $6.3B | $4.3B |
| 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 | — | $-8.7M |
| Free Cash FlowOCF − Capex | — | $-13.0M |
| FCF MarginFCF / Revenue | — | -1.1% |
| Capex IntensityCapex / Revenue | — | 0.4% |
| Cash ConversionOCF / Net Profit | — | -0.14× |
| TTM Free Cash FlowTrailing 4 quarters | — | $127.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $275.3M | $-8.7M | ||
| Q3 25 | $240.0M | $43.4M | ||
| Q2 25 | $205.0M | $37.8M | ||
| Q1 25 | $256.4M | $64.9M | ||
| Q4 24 | $262.1M | $104.4M | ||
| Q3 24 | $231.2M | $-67.9M | ||
| Q2 24 | $213.1M | $27.5M |
| Q1 26 | — | — | ||
| Q4 25 | $127.0M | $-13.0M | ||
| Q3 25 | $94.4M | $42.0M | ||
| Q2 25 | $80.6M | $35.1M | ||
| Q1 25 | $86.5M | $63.5M | ||
| Q4 24 | $150.9M | $102.3M | ||
| Q3 24 | $146.0M | $-68.5M | ||
| Q2 24 | $98.7M | $22.0M |
| Q1 26 | — | — | ||
| Q4 25 | 12.0% | -1.1% | ||
| Q3 25 | 9.4% | 3.7% | ||
| Q2 25 | 7.8% | 3.0% | ||
| Q1 25 | 8.7% | 6.5% | ||
| Q4 24 | 14.5% | 8.5% | ||
| Q3 24 | 15.2% | -6.0% | ||
| Q2 24 | 10.2% | 2.0% |
| Q1 26 | — | — | ||
| Q4 25 | 14.0% | 0.4% | ||
| Q3 25 | 14.5% | 0.1% | ||
| Q2 25 | 12.0% | 0.2% | ||
| Q1 25 | 17.1% | 0.1% | ||
| Q4 24 | 10.7% | 0.2% | ||
| Q3 24 | 8.9% | 0.1% | ||
| Q2 24 | 11.8% | 0.5% |
| Q1 26 | — | — | ||
| Q4 25 | 1.96× | -0.14× | ||
| Q3 25 | 0.17× | 0.41× | ||
| Q2 25 | 1.35× | 0.31× | ||
| Q1 25 | 2.30× | 0.58× | ||
| Q4 24 | 1.54× | 0.78× | ||
| Q3 24 | 1.76× | -0.47× | ||
| Q2 24 | 1.52× | 0.19× |
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% |
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
