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Side-by-side financial comparison of BOYD GAMING CORP (BYD) and MODINE MANUFACTURING CO (MOD). Click either name above to swap in a different company.
BOYD GAMING CORP is the larger business by last-quarter revenue ($997.4M vs $805.0M, roughly 1.2× MODINE MANUFACTURING CO). BOYD GAMING CORP runs the higher net margin — 10.5% vs -5.9%, a 16.3% gap on every dollar of revenue. On growth, MODINE MANUFACTURING CO posted the faster year-over-year revenue change (30.5% vs 0.6%). Over the past eight quarters, MODINE MANUFACTURING CO's revenue compounded faster (15.5% CAGR vs 1.5%).
Boyd Gaming Corporation is an American gambling and hospitality company based in Paradise, Nevada, US.
Modine Manufacturing is a thermal management company established in 1916 in the United States. The company started as Modine Manufacturing Company by Arthur B Modine who patented the Spirex radiator for tractors. The Modine company manufactured the Turbotube radiator for Ford Model T cars. The company built the world's first vehicular wind tunnel in Racine, Wisconsin in 1941. During WWII, Modine manufactured aftercoolers for the P-51 Mustang fighter plane. After WWII, Modine introduced the Ai...
BYD vs MOD — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $997.4M | $805.0M |
| Net Profit | $104.3M | $-47.4M |
| Gross Margin | — | 23.1% |
| Operating Margin | 16.4% | 11.1% |
| Net Margin | 10.5% | -5.9% |
| Revenue YoY | 0.6% | 30.5% |
| Net Profit YoY | -5.9% | -215.6% |
| EPS (diluted) | $1.37 | $-0.90 |
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 | $805.0M | ||
| Q3 25 | $1.0B | $738.9M | ||
| Q2 25 | $1.0B | $682.8M | ||
| Q1 25 | $991.6M | $647.2M | ||
| Q4 24 | $1.0B | $616.8M | ||
| Q3 24 | $961.2M | $658.0M | ||
| Q2 24 | $967.5M | $661.5M |
| Q1 26 | $104.3M | — | ||
| Q4 25 | $140.4M | $-47.4M | ||
| Q3 25 | $1.4B | $44.4M | ||
| Q2 25 | $151.5M | $51.2M | ||
| Q1 25 | $111.4M | $49.6M | ||
| Q4 24 | $170.5M | $41.0M | ||
| Q3 24 | $131.1M | $46.1M | ||
| Q2 24 | $139.8M | $47.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | 23.1% | ||
| Q3 25 | — | 22.3% | ||
| Q2 25 | — | 24.2% | ||
| Q1 25 | — | 25.6% | ||
| Q4 24 | — | 24.3% | ||
| Q3 24 | — | 25.2% | ||
| Q2 24 | — | 24.6% |
| Q1 26 | 16.4% | — | ||
| Q4 25 | 15.7% | 11.1% | ||
| Q3 25 | 13.9% | 9.9% | ||
| Q2 25 | 23.4% | 11.1% | ||
| Q1 25 | 20.2% | 11.5% | ||
| Q4 24 | 25.1% | 9.6% | ||
| Q3 24 | 22.9% | 11.4% | ||
| Q2 24 | 23.5% | 11.2% |
| Q1 26 | 10.5% | — | ||
| Q4 25 | 13.2% | -5.9% | ||
| Q3 25 | 143.4% | 6.0% | ||
| Q2 25 | 14.6% | 7.5% | ||
| Q1 25 | 11.2% | 7.7% | ||
| Q4 24 | 16.4% | 6.6% | ||
| Q3 24 | 13.6% | 7.0% | ||
| Q2 24 | 14.5% | 7.2% |
| Q1 26 | $1.37 | — | ||
| Q4 25 | $1.60 | $-0.90 | ||
| Q3 25 | $17.81 | $0.83 | ||
| Q2 25 | $1.84 | $0.95 | ||
| Q1 25 | $1.31 | $0.92 | ||
| Q4 24 | $1.89 | $0.76 | ||
| Q3 24 | $1.43 | $0.86 | ||
| Q2 24 | $1.47 | $0.88 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $98.7M |
| Total DebtLower is stronger | — | $570.7M |
| Stockholders' EquityBook value | — | $1.1B |
| Total Assets | — | $2.5B |
| Debt / EquityLower = less leverage | — | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $353.4M | $98.7M | ||
| Q3 25 | $319.1M | $83.8M | ||
| Q2 25 | $320.1M | $124.5M | ||
| Q1 25 | $311.5M | $71.6M | ||
| Q4 24 | $316.7M | $83.8M | ||
| Q3 24 | $286.3M | $78.6M | ||
| Q2 24 | $280.8M | $72.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $570.7M | ||
| Q3 25 | — | $525.8M | ||
| Q2 25 | $3.6B | $482.1M | ||
| Q1 25 | $3.5B | $296.7M | ||
| Q4 24 | $3.2B | $330.0M | ||
| Q3 24 | $3.1B | $359.1M | ||
| Q2 24 | $3.0B | $405.7M |
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $1.1B | ||
| Q3 25 | $2.7B | $1.1B | ||
| Q2 25 | $1.4B | $1.0B | ||
| Q1 25 | $1.3B | $910.2M | ||
| Q4 24 | $1.6B | $855.1M | ||
| Q3 24 | $1.6B | $858.8M | ||
| Q2 24 | $1.7B | $788.4M |
| Q1 26 | — | — | ||
| Q4 25 | $6.6B | $2.5B | ||
| Q3 25 | $6.5B | $2.4B | ||
| Q2 25 | $6.6B | $2.2B | ||
| Q1 25 | $6.5B | $1.9B | ||
| Q4 24 | $6.4B | $1.8B | ||
| Q3 24 | $6.3B | $1.9B | ||
| Q2 24 | $6.3B | $1.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.51× | ||
| Q3 25 | — | 0.50× | ||
| Q2 25 | 2.56× | 0.48× | ||
| Q1 25 | 2.61× | 0.33× | ||
| Q4 24 | 2.01× | 0.39× | ||
| Q3 24 | 1.88× | 0.42× | ||
| Q2 24 | 1.73× | 0.51× |
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 | — | $24.7M |
| Free Cash FlowOCF − Capex | — | $-17.1M |
| FCF MarginFCF / Revenue | — | -2.1% |
| Capex IntensityCapex / Revenue | — | 5.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-20.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $275.3M | $24.7M | ||
| Q3 25 | $240.0M | $1.4M | ||
| Q2 25 | $205.0M | $27.7M | ||
| Q1 25 | $256.4M | $54.8M | ||
| Q4 24 | $262.1M | $60.7M | ||
| Q3 24 | $231.2M | $57.3M | ||
| Q2 24 | $213.1M | $40.5M |
| Q1 26 | — | — | ||
| Q4 25 | $127.0M | $-17.1M | ||
| Q3 25 | $94.4M | $-30.5M | ||
| Q2 25 | $80.6M | $200.0K | ||
| Q1 25 | $86.5M | $27.1M | ||
| Q4 24 | $150.9M | $44.7M | ||
| Q3 24 | $146.0M | $43.8M | ||
| Q2 24 | $98.7M | $13.7M |
| Q1 26 | — | — | ||
| Q4 25 | 12.0% | -2.1% | ||
| Q3 25 | 9.4% | -4.1% | ||
| Q2 25 | 7.8% | 0.0% | ||
| Q1 25 | 8.7% | 4.2% | ||
| Q4 24 | 14.5% | 7.2% | ||
| Q3 24 | 15.2% | 6.7% | ||
| Q2 24 | 10.2% | 2.1% |
| Q1 26 | — | — | ||
| Q4 25 | 14.0% | 5.2% | ||
| Q3 25 | 14.5% | 4.3% | ||
| Q2 25 | 12.0% | 4.0% | ||
| Q1 25 | 17.1% | 4.3% | ||
| Q4 24 | 10.7% | 2.6% | ||
| Q3 24 | 8.9% | 2.1% | ||
| Q2 24 | 11.8% | 4.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.96× | — | ||
| Q3 25 | 0.17× | 0.03× | ||
| Q2 25 | 1.35× | 0.54× | ||
| Q1 25 | 2.30× | 1.10× | ||
| Q4 24 | 1.54× | 1.48× | ||
| Q3 24 | 1.76× | 1.24× | ||
| Q2 24 | 1.52× | 0.86× |
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% |
MOD
| Data Centers | $296.9M | 37% |
| Performance Technologies | $266.0M | 33% |
| Hvac Technologies | $107.1M | 13% |
| Air Cooled | $92.4M | 11% |
| Lb White | $25.6M | 3% |
| Climate By Design | $10.2M | 1% |
| Absolutaire | $7.0M | 1% |
