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Side-by-side financial comparison of BOYD GAMING CORP (BYD) and OCEANEERING INTERNATIONAL INC (OII). Click either name above to swap in a different company.
BOYD GAMING CORP is the larger business by last-quarter revenue ($997.4M vs $692.4M, roughly 1.4× OCEANEERING INTERNATIONAL INC). BOYD GAMING CORP runs the higher net margin — 10.5% vs 5.2%, a 5.2% gap on every dollar of revenue. On growth, OCEANEERING INTERNATIONAL INC posted the faster year-over-year revenue change (2.7% vs 0.6%). Over the past eight quarters, OCEANEERING INTERNATIONAL INC's revenue compounded faster (1.8% CAGR vs 1.5%).
Boyd Gaming Corporation is an American gambling and hospitality company based in Paradise, Nevada, US.
Oceaneering International, Inc. is a subsea engineering and applied technology company based in Houston, Texas, U.S. that provides engineered services and hardware to customers who operate in marine, space, and other environments.
BYD vs OII — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $997.4M | $692.4M |
| Net Profit | $104.3M | $36.1M |
| Gross Margin | — | — |
| Operating Margin | 16.4% | — |
| Net Margin | 10.5% | 5.2% |
| Revenue YoY | 0.6% | 2.7% |
| Net Profit YoY | -5.9% | -79.7% |
| EPS (diluted) | $1.37 | $0.36 |
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 | $692.4M | ||
| Q4 25 | $1.1B | $668.6M | ||
| Q3 25 | $1.0B | $742.9M | ||
| Q2 25 | $1.0B | $698.2M | ||
| Q1 25 | $991.6M | $674.5M | ||
| Q4 24 | $1.0B | $713.5M | ||
| Q3 24 | $961.2M | $679.8M | ||
| Q2 24 | $967.5M | $668.8M |
| Q1 26 | $104.3M | $36.1M | ||
| Q4 25 | $140.4M | $177.7M | ||
| Q3 25 | $1.4B | $71.3M | ||
| Q2 25 | $151.5M | $54.4M | ||
| Q1 25 | $111.4M | $50.4M | ||
| Q4 24 | $170.5M | $56.1M | ||
| Q3 24 | $131.1M | $41.2M | ||
| Q2 24 | $139.8M | $35.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 19.8% | ||
| Q3 25 | — | 20.6% | ||
| Q2 25 | — | 21.3% | ||
| Q1 25 | — | 20.0% | ||
| Q4 24 | — | 19.9% | ||
| Q3 24 | — | 19.3% | ||
| Q2 24 | — | 18.0% |
| Q1 26 | 16.4% | — | ||
| Q4 25 | 15.7% | 9.8% | ||
| Q3 25 | 13.9% | 11.6% | ||
| Q2 25 | 23.4% | 11.3% | ||
| Q1 25 | 20.2% | 10.9% | ||
| Q4 24 | 25.1% | 10.9% | ||
| Q3 24 | 22.9% | 10.5% | ||
| Q2 24 | 23.5% | 9.0% |
| Q1 26 | 10.5% | 5.2% | ||
| Q4 25 | 13.2% | 26.6% | ||
| Q3 25 | 143.4% | 9.6% | ||
| Q2 25 | 14.6% | 7.8% | ||
| Q1 25 | 11.2% | 7.5% | ||
| Q4 24 | 16.4% | 7.9% | ||
| Q3 24 | 13.6% | 6.1% | ||
| Q2 24 | 14.5% | 5.2% |
| Q1 26 | $1.37 | $0.36 | ||
| Q4 25 | $1.60 | $1.75 | ||
| Q3 25 | $17.81 | $0.71 | ||
| Q2 25 | $1.84 | $0.54 | ||
| Q1 25 | $1.31 | $0.49 | ||
| Q4 24 | $1.89 | $0.55 | ||
| Q3 24 | $1.43 | $0.40 | ||
| Q2 24 | $1.47 | $0.34 |
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 | — | $488.8M |
| Stockholders' EquityBook value | — | $1.1B |
| Total Assets | — | $2.6B |
| Debt / EquityLower = less leverage | — | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $353.4M | $695.9M | ||
| Q3 25 | $319.1M | $7.0M | ||
| Q2 25 | $320.1M | $7.0M | ||
| Q1 25 | $311.5M | $7.0M | ||
| Q4 24 | $316.7M | $504.5M | ||
| Q3 24 | $286.3M | — | ||
| Q2 24 | $280.8M | — |
| Q1 26 | — | $488.8M | ||
| Q4 25 | — | $487.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | $3.6B | — | ||
| Q1 25 | $3.5B | — | ||
| Q4 24 | $3.2B | $482.0M | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.0B | — |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $2.6B | $1.1B | ||
| Q3 25 | $2.7B | $907.7M | ||
| Q2 25 | $1.4B | $842.1M | ||
| Q1 25 | $1.3B | $773.1M | ||
| Q4 24 | $1.6B | $714.3M | ||
| Q3 24 | $1.6B | $698.0M | ||
| Q2 24 | $1.7B | $651.0M |
| Q1 26 | — | $2.6B | ||
| Q4 25 | $6.6B | $2.7B | ||
| Q3 25 | $6.5B | $2.5B | ||
| Q2 25 | $6.6B | $2.3B | ||
| Q1 25 | $6.5B | $2.3B | ||
| Q4 24 | $6.4B | $2.3B | ||
| Q3 24 | $6.3B | $2.4B | ||
| Q2 24 | $6.3B | $2.3B |
| Q1 26 | — | 0.44× | ||
| Q4 25 | — | 0.46× | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.56× | — | ||
| Q1 25 | 2.61× | — | ||
| Q4 24 | 2.01× | 0.67× | ||
| 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 | — | — |
| Free Cash FlowOCF − Capex | — | $-76.5M |
| FCF MarginFCF / Revenue | — | -11.1% |
| Capex IntensityCapex / Revenue | — | 2.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $238.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $275.3M | $221.1M | ||
| Q3 25 | $240.0M | $101.3M | ||
| Q2 25 | $205.0M | $77.2M | ||
| Q1 25 | $256.4M | $-80.7M | ||
| Q4 24 | $262.1M | $128.4M | ||
| Q3 24 | $231.2M | $91.9M | ||
| Q2 24 | $213.1M | $52.6M |
| Q1 26 | — | $-76.5M | ||
| Q4 25 | $127.0M | $190.7M | ||
| Q3 25 | $94.4M | $77.0M | ||
| Q2 25 | $80.6M | $46.9M | ||
| Q1 25 | $86.5M | $-106.8M | ||
| Q4 24 | $150.9M | $94.5M | ||
| Q3 24 | $146.0M | $67.0M | ||
| Q2 24 | $98.7M | $29.8M |
| Q1 26 | — | -11.1% | ||
| Q4 25 | 12.0% | 28.5% | ||
| Q3 25 | 9.4% | 10.4% | ||
| Q2 25 | 7.8% | 6.7% | ||
| Q1 25 | 8.7% | -15.8% | ||
| Q4 24 | 14.5% | 13.2% | ||
| Q3 24 | 15.2% | 9.9% | ||
| Q2 24 | 10.2% | 4.5% |
| Q1 26 | — | 2.5% | ||
| Q4 25 | 14.0% | 4.6% | ||
| Q3 25 | 14.5% | 3.3% | ||
| Q2 25 | 12.0% | 4.3% | ||
| Q1 25 | 17.1% | 3.9% | ||
| Q4 24 | 10.7% | 4.7% | ||
| Q3 24 | 8.9% | 3.7% | ||
| Q2 24 | 11.8% | 3.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.96× | 1.24× | ||
| Q3 25 | 0.17× | 1.42× | ||
| Q2 25 | 1.35× | 1.42× | ||
| Q1 25 | 2.30× | -1.60× | ||
| Q4 24 | 1.54× | 2.29× | ||
| Q3 24 | 1.76× | 2.23× | ||
| Q2 24 | 1.52× | 1.50× |
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% |
OII
| Backlog at end of period | $492.0M | 71% |
| Other | $162.8M | 24% |
| ROV days available | $22.5M | 3% |
| ROV days utilized | $15.1M | 2% |
