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Side-by-side financial comparison of BOYD GAMING CORP (BYD) and PHINIA INC. (PHIN). Click either name above to swap in a different company.
BOYD GAMING CORP is the larger business by last-quarter revenue ($997.4M vs $889.0M, roughly 1.1× PHINIA INC.). On growth, PHINIA INC. posted the faster year-over-year revenue change (6.7% vs 0.6%). Over the past eight quarters, BOYD GAMING CORP's revenue compounded faster (1.5% CAGR vs 1.5%).
Boyd Gaming Corporation is an American gambling and hospitality company based in Paradise, Nevada, US.
PHINIA Inc. is a global automotive technology provider specializing in fuel injection systems, starters, alternators, and hybrid/electric vehicle components. It serves OEMs and aftermarket customers across North America, Europe, Asia Pacific and key markets, covering passenger car, commercial vehicle and industrial mobility segments.
BYD vs PHIN — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $997.4M | $889.0M |
| Net Profit | $104.3M | — |
| Gross Margin | — | 21.7% |
| Operating Margin | 16.4% | 7.8% |
| Net Margin | 10.5% | — |
| Revenue YoY | 0.6% | 6.7% |
| Net Profit YoY | -5.9% | — |
| EPS (diluted) | $1.37 | $1.14 |
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 | $889.0M | ||
| Q3 25 | $1.0B | $908.0M | ||
| Q2 25 | $1.0B | $890.0M | ||
| Q1 25 | $991.6M | $796.0M | ||
| Q4 24 | $1.0B | $833.0M | ||
| Q3 24 | $961.2M | $839.0M | ||
| Q2 24 | $967.5M | $868.0M |
| Q1 26 | $104.3M | — | ||
| Q4 25 | $140.4M | — | ||
| Q3 25 | $1.4B | $13.0M | ||
| Q2 25 | $151.5M | $46.0M | ||
| Q1 25 | $111.4M | $26.0M | ||
| Q4 24 | $170.5M | — | ||
| Q3 24 | $131.1M | $31.0M | ||
| Q2 24 | $139.8M | $14.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 21.7% | ||
| Q3 25 | — | 22.0% | ||
| Q2 25 | — | 22.1% | ||
| Q1 25 | — | 21.6% | ||
| Q4 24 | — | 22.7% | ||
| Q3 24 | — | 22.3% | ||
| Q2 24 | — | 21.7% |
| Q1 26 | 16.4% | — | ||
| Q4 25 | 15.7% | 7.8% | ||
| Q3 25 | 13.9% | 3.7% | ||
| Q2 25 | 23.4% | 10.0% | ||
| Q1 25 | 20.2% | 7.8% | ||
| Q4 24 | 25.1% | 6.1% | ||
| Q3 24 | 22.9% | 7.9% | ||
| Q2 24 | 23.5% | 8.2% |
| Q1 26 | 10.5% | — | ||
| Q4 25 | 13.2% | — | ||
| Q3 25 | 143.4% | 1.4% | ||
| Q2 25 | 14.6% | 5.2% | ||
| Q1 25 | 11.2% | 3.3% | ||
| Q4 24 | 16.4% | — | ||
| Q3 24 | 13.6% | 3.7% | ||
| Q2 24 | 14.5% | 1.6% |
| Q1 26 | $1.37 | — | ||
| Q4 25 | $1.60 | $1.14 | ||
| Q3 25 | $17.81 | $0.33 | ||
| Q2 25 | $1.84 | $1.14 | ||
| Q1 25 | $1.31 | $0.63 | ||
| Q4 24 | $1.89 | $0.13 | ||
| Q3 24 | $1.43 | $0.70 | ||
| Q2 24 | $1.47 | $0.31 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $359.0M |
| Total DebtLower is stronger | — | $970.0M |
| Stockholders' EquityBook value | — | $1.6B |
| Total Assets | — | $3.8B |
| Debt / EquityLower = less leverage | — | 0.61× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $353.4M | $359.0M | ||
| Q3 25 | $319.1M | $349.0M | ||
| Q2 25 | $320.1M | $347.0M | ||
| Q1 25 | $311.5M | $373.0M | ||
| Q4 24 | $316.7M | $484.0M | ||
| Q3 24 | $286.3M | $477.0M | ||
| Q2 24 | $280.8M | $339.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $970.0M | ||
| Q3 25 | — | $990.0M | ||
| Q2 25 | $3.6B | $990.0M | ||
| Q1 25 | $3.5B | $989.0M | ||
| Q4 24 | $3.2B | $988.0M | ||
| Q3 24 | $3.1B | $987.0M | ||
| Q2 24 | $3.0B | $821.0M |
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $1.6B | ||
| Q3 25 | $2.7B | $1.6B | ||
| Q2 25 | $1.4B | $1.6B | ||
| Q1 25 | $1.3B | $1.5B | ||
| Q4 24 | $1.6B | $1.6B | ||
| Q3 24 | $1.6B | $1.7B | ||
| Q2 24 | $1.7B | $1.7B |
| Q1 26 | — | — | ||
| Q4 25 | $6.6B | $3.8B | ||
| Q3 25 | $6.5B | $4.0B | ||
| Q2 25 | $6.6B | $3.9B | ||
| Q1 25 | $6.5B | $3.7B | ||
| Q4 24 | $6.4B | $3.8B | ||
| Q3 24 | $6.3B | $4.0B | ||
| Q2 24 | $6.3B | $3.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.61× | ||
| Q3 25 | — | 0.62× | ||
| Q2 25 | 2.56× | 0.61× | ||
| Q1 25 | 2.61× | 0.64× | ||
| Q4 24 | 2.01× | 0.63× | ||
| Q3 24 | 1.88× | 0.58× | ||
| Q2 24 | 1.73× | 0.47× |
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 | — | $96.0M |
| Free Cash FlowOCF − Capex | — | $67.0M |
| FCF MarginFCF / Revenue | — | 7.5% |
| Capex IntensityCapex / Revenue | — | 3.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $188.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $275.3M | $96.0M | ||
| Q3 25 | $240.0M | $119.0M | ||
| Q2 25 | $205.0M | $57.0M | ||
| Q1 25 | $256.4M | $40.0M | ||
| Q4 24 | $262.1M | $73.0M | ||
| Q3 24 | $231.2M | $95.0M | ||
| Q2 24 | $213.1M | $109.0M |
| Q1 26 | — | — | ||
| Q4 25 | $127.0M | $67.0M | ||
| Q3 25 | $94.4M | $93.0M | ||
| Q2 25 | $80.6M | $23.0M | ||
| Q1 25 | $86.5M | $5.0M | ||
| Q4 24 | $150.9M | $53.0M | ||
| Q3 24 | $146.0M | $70.0M | ||
| Q2 24 | $98.7M | $92.0M |
| Q1 26 | — | — | ||
| Q4 25 | 12.0% | 7.5% | ||
| Q3 25 | 9.4% | 10.2% | ||
| Q2 25 | 7.8% | 2.6% | ||
| Q1 25 | 8.7% | 0.6% | ||
| Q4 24 | 14.5% | 6.4% | ||
| Q3 24 | 15.2% | 8.3% | ||
| Q2 24 | 10.2% | 10.6% |
| Q1 26 | — | — | ||
| Q4 25 | 14.0% | 3.3% | ||
| Q3 25 | 14.5% | 2.9% | ||
| Q2 25 | 12.0% | 3.8% | ||
| Q1 25 | 17.1% | 4.4% | ||
| Q4 24 | 10.7% | 2.4% | ||
| Q3 24 | 8.9% | 3.0% | ||
| Q2 24 | 11.8% | 2.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.96× | — | ||
| Q3 25 | 0.17× | 9.15× | ||
| Q2 25 | 1.35× | 1.24× | ||
| Q1 25 | 2.30× | 1.54× | ||
| Q4 24 | 1.54× | — | ||
| Q3 24 | 1.76× | 3.06× | ||
| Q2 24 | 1.52× | 7.79× |
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% |
PHIN
| Customer | $618.0M | 70% |
| Fuel Systems | $194.0M | 22% |
| Other | $77.0M | 9% |
