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Side-by-side financial comparison of BOYD GAMING CORP (BYD) and NCR Atleos Corp (NATL). Click either name above to swap in a different company.
NCR Atleos Corp is the larger business by last-quarter revenue ($1.2B vs $997.4M, roughly 1.2× BOYD GAMING CORP). BOYD GAMING CORP runs the higher net margin — 10.5% vs 7.2%, a 3.3% gap on every dollar of revenue. On growth, NCR Atleos Corp posted the faster year-over-year revenue change (4.0% vs 0.6%). Over the past eight quarters, NCR Atleos Corp's revenue compounded faster (4.9% CAGR vs 1.5%).
Boyd Gaming Corporation is an American gambling and hospitality company based in Paradise, Nevada, US.
NCR Voyix Corporation, previously known as NCR Corporation and National Cash Register, is a global software, consulting and technology company providing several professional services and electronic products. It manufactured self-service kiosks, point-of-sale terminals, automated teller machines, check processing systems, and barcode scanners.
BYD vs NATL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $997.4M | $1.2B |
| Net Profit | $104.3M | $83.0M |
| Gross Margin | — | — |
| Operating Margin | 16.4% | 13.5% |
| Net Margin | 10.5% | 7.2% |
| Revenue YoY | 0.6% | 4.0% |
| Net Profit YoY | -5.9% | 102.4% |
| EPS (diluted) | $1.37 | $1.09 |
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 | $1.2B | ||
| Q3 25 | $1.0B | $1.1B | ||
| Q2 25 | $1.0B | $1.1B | ||
| Q1 25 | $991.6M | $979.0M | ||
| Q4 24 | $1.0B | $1.1B | ||
| Q3 24 | $961.2M | $1.1B | ||
| Q2 24 | $967.5M | $1.1B |
| Q1 26 | $104.3M | — | ||
| Q4 25 | $140.4M | $83.0M | ||
| Q3 25 | $1.4B | $26.0M | ||
| Q2 25 | $151.5M | $39.0M | ||
| Q1 25 | $111.4M | $14.0M | ||
| Q4 24 | $170.5M | $41.0M | ||
| Q3 24 | $131.1M | $21.0M | ||
| Q2 24 | $139.8M | $27.0M |
| Q1 26 | 16.4% | — | ||
| Q4 25 | 15.7% | 13.5% | ||
| Q3 25 | 13.9% | 9.8% | ||
| Q2 25 | 23.4% | 10.8% | ||
| Q1 25 | 20.2% | 9.5% | ||
| Q4 24 | 25.1% | 13.4% | ||
| Q3 24 | 22.9% | 10.6% | ||
| Q2 24 | 23.5% | 9.8% |
| Q1 26 | 10.5% | — | ||
| Q4 25 | 13.2% | 7.2% | ||
| Q3 25 | 143.4% | 2.3% | ||
| Q2 25 | 14.6% | 3.5% | ||
| Q1 25 | 11.2% | 1.4% | ||
| Q4 24 | 16.4% | 3.7% | ||
| Q3 24 | 13.6% | 2.0% | ||
| Q2 24 | 14.5% | 2.5% |
| Q1 26 | $1.37 | — | ||
| Q4 25 | $1.60 | $1.09 | ||
| Q3 25 | $17.81 | $0.34 | ||
| Q2 25 | $1.84 | $0.52 | ||
| Q1 25 | $1.31 | $0.19 | ||
| Q4 24 | $1.89 | $0.56 | ||
| Q3 24 | $1.43 | $0.28 | ||
| Q2 24 | $1.47 | $0.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $456.0M |
| Total DebtLower is stronger | — | $2.7B |
| Stockholders' EquityBook value | — | $403.0M |
| Total Assets | — | $5.7B |
| Debt / EquityLower = less leverage | — | 6.63× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $353.4M | $456.0M | ||
| Q3 25 | $319.1M | $412.0M | ||
| Q2 25 | $320.1M | $357.0M | ||
| Q1 25 | $311.5M | $352.0M | ||
| Q4 24 | $316.7M | $419.0M | ||
| Q3 24 | $286.3M | $395.0M | ||
| Q2 24 | $280.8M | $374.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.8B | ||
| Q2 25 | $3.6B | $2.8B | ||
| Q1 25 | $3.5B | — | ||
| Q4 24 | $3.2B | $2.9B | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.0B | — |
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $403.0M | ||
| Q3 25 | $2.7B | $330.0M | ||
| Q2 25 | $1.4B | $350.0M | ||
| Q1 25 | $1.3B | $275.0M | ||
| Q4 24 | $1.6B | $219.0M | ||
| Q3 24 | $1.6B | $264.0M | ||
| Q2 24 | $1.7B | $250.0M |
| Q1 26 | — | — | ||
| Q4 25 | $6.6B | $5.7B | ||
| Q3 25 | $6.5B | $5.7B | ||
| Q2 25 | $6.6B | $5.8B | ||
| Q1 25 | $6.5B | $5.7B | ||
| Q4 24 | $6.4B | $5.5B | ||
| Q3 24 | $6.3B | $5.7B | ||
| Q2 24 | $6.3B | $5.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.63× | ||
| Q3 25 | — | 8.45× | ||
| Q2 25 | 2.56× | 8.05× | ||
| Q1 25 | 2.61× | — | ||
| Q4 24 | 2.01× | 13.05× | ||
| 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 | — | $231.0M |
| Free Cash FlowOCF − Capex | — | $194.0M |
| FCF MarginFCF / Revenue | — | 16.8% |
| Capex IntensityCapex / Revenue | — | 3.2% |
| Cash ConversionOCF / Net Profit | — | 2.78× |
| TTM Free Cash FlowTrailing 4 quarters | — | $239.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $275.3M | $231.0M | ||
| Q3 25 | $240.0M | $25.0M | ||
| Q2 25 | $205.0M | $-23.0M | ||
| Q1 25 | $256.4M | $123.0M | ||
| Q4 24 | $262.1M | $80.0M | ||
| Q3 24 | $231.2M | $107.0M | ||
| Q2 24 | $213.1M | $9.0M |
| Q1 26 | — | — | ||
| Q4 25 | $127.0M | $194.0M | ||
| Q3 25 | $94.4M | $-5.0M | ||
| Q2 25 | $80.6M | $-44.0M | ||
| Q1 25 | $86.5M | $94.0M | ||
| Q4 24 | $150.9M | $62.0M | ||
| Q3 24 | $146.0M | $85.0M | ||
| Q2 24 | $98.7M | $-14.0M |
| Q1 26 | — | — | ||
| Q4 25 | 12.0% | 16.8% | ||
| Q3 25 | 9.4% | -0.4% | ||
| Q2 25 | 7.8% | -4.0% | ||
| Q1 25 | 8.7% | 9.6% | ||
| Q4 24 | 14.5% | 5.6% | ||
| Q3 24 | 15.2% | 7.9% | ||
| Q2 24 | 10.2% | -1.3% |
| Q1 26 | — | — | ||
| Q4 25 | 14.0% | 3.2% | ||
| Q3 25 | 14.5% | 2.7% | ||
| Q2 25 | 12.0% | 1.9% | ||
| Q1 25 | 17.1% | 3.0% | ||
| Q4 24 | 10.7% | 1.6% | ||
| Q3 24 | 8.9% | 2.1% | ||
| Q2 24 | 11.8% | 2.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.96× | 2.78× | ||
| Q3 25 | 0.17× | 0.96× | ||
| Q2 25 | 1.35× | -0.59× | ||
| Q1 25 | 2.30× | 8.79× | ||
| Q4 24 | 1.54× | 1.95× | ||
| Q3 24 | 1.76× | 5.10× | ||
| Q2 24 | 1.52× | 0.33× |
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% |
NATL
| Services | $848.0M | 74% |
| APJ | $136.0M | 12% |
| Americas Excluding United States | $135.0M | 12% |
| TT | $44.0M | 4% |
