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Side-by-side financial comparison of BOYD GAMING CORP (BYD) and PJT Partners Inc. (PJT). Click either name above to swap in a different company.
BOYD GAMING CORP is the larger business by last-quarter revenue ($997.4M vs $531.4M, roughly 1.9× PJT Partners Inc.). BOYD GAMING CORP runs the higher net margin — 10.5% vs 10.0%, a 0.4% gap on every dollar of revenue. On growth, PJT Partners Inc. posted the faster year-over-year revenue change (12.9% vs 0.6%). Over the past eight quarters, PJT Partners Inc.'s revenue compounded faster (27.5% CAGR vs 1.5%).
Boyd Gaming Corporation is an American gambling and hospitality company based in Paradise, Nevada, US.
PJT Partners, Inc. is a global advisory-focused investment bank, founded in October 2015 as part of The Blackstone Group's spin-off of its financial and strategic advisory services businesses.
BYD vs PJT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $997.4M | $531.4M |
| Net Profit | $104.3M | $53.4M |
| Gross Margin | — | — |
| Operating Margin | 16.4% | 23.1% |
| Net Margin | 10.5% | 10.0% |
| Revenue YoY | 0.6% | 12.9% |
| Net Profit YoY | -5.9% | 4.0% |
| EPS (diluted) | $1.37 | — |
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 | $531.4M | ||
| Q3 25 | $1.0B | $442.3M | ||
| Q2 25 | $1.0B | $401.1M | ||
| Q1 25 | $991.6M | $321.9M | ||
| Q4 24 | $1.0B | $470.5M | ||
| Q3 24 | $961.2M | $320.3M | ||
| Q2 24 | $967.5M | $358.1M |
| Q1 26 | $104.3M | — | ||
| Q4 25 | $140.4M | $53.4M | ||
| Q3 25 | $1.4B | $39.8M | ||
| Q2 25 | $151.5M | $32.9M | ||
| Q1 25 | $111.4M | $54.0M | ||
| Q4 24 | $170.5M | $51.3M | ||
| Q3 24 | $131.1M | $22.1M | ||
| Q2 24 | $139.8M | $28.3M |
| Q1 26 | 16.4% | — | ||
| Q4 25 | 15.7% | 23.1% | ||
| Q3 25 | 13.9% | 20.6% | ||
| Q2 25 | 23.4% | 19.1% | ||
| Q1 25 | 20.2% | 16.3% | ||
| Q4 24 | 25.1% | 21.9% | ||
| Q3 24 | 22.9% | 15.4% | ||
| Q2 24 | 23.5% | 18.0% |
| Q1 26 | 10.5% | — | ||
| Q4 25 | 13.2% | 10.0% | ||
| Q3 25 | 143.4% | 9.0% | ||
| Q2 25 | 14.6% | 8.2% | ||
| Q1 25 | 11.2% | 16.8% | ||
| Q4 24 | 16.4% | 10.9% | ||
| Q3 24 | 13.6% | 6.9% | ||
| Q2 24 | 14.5% | 7.9% |
| Q1 26 | $1.37 | — | ||
| Q4 25 | $1.60 | — | ||
| Q3 25 | $17.81 | — | ||
| Q2 25 | $1.84 | — | ||
| Q1 25 | $1.31 | — | ||
| Q4 24 | $1.89 | — | ||
| Q3 24 | $1.43 | — | ||
| Q2 24 | $1.47 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $538.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $308.2M |
| Total Assets | — | $1.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $353.4M | $538.9M | ||
| Q3 25 | $319.1M | $400.5M | ||
| Q2 25 | $320.1M | $214.6M | ||
| Q1 25 | $311.5M | $194.3M | ||
| Q4 24 | $316.7M | $483.9M | ||
| Q3 24 | $286.3M | $148.8M | ||
| Q2 24 | $280.8M | $164.2M |
| 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 | $308.2M | ||
| Q3 25 | $2.7B | $228.6M | ||
| Q2 25 | $1.4B | $167.4M | ||
| Q1 25 | $1.3B | $148.8M | ||
| Q4 24 | $1.6B | $187.0M | ||
| Q3 24 | $1.6B | $159.1M | ||
| Q2 24 | $1.7B | $133.8M |
| Q1 26 | — | — | ||
| Q4 25 | $6.6B | $1.8B | ||
| Q3 25 | $6.5B | $1.7B | ||
| Q2 25 | $6.6B | $1.5B | ||
| Q1 25 | $6.5B | $1.4B | ||
| Q4 24 | $6.4B | $1.6B | ||
| Q3 24 | $6.3B | $1.6B | ||
| Q2 24 | $6.3B | $1.4B |
| 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 | — | $155.7M |
| Free Cash FlowOCF − Capex | — | $138.6M |
| FCF MarginFCF / Revenue | — | 26.1% |
| Capex IntensityCapex / Revenue | — | 3.2% |
| Cash ConversionOCF / Net Profit | — | 2.92× |
| TTM Free Cash FlowTrailing 4 quarters | — | $480.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $275.3M | $155.7M | ||
| Q3 25 | $240.0M | $256.1M | ||
| Q2 25 | $205.0M | $190.4M | ||
| Q1 25 | $256.4M | $-75.9M | ||
| Q4 24 | $262.1M | $195.7M | ||
| Q3 24 | $231.2M | $180.5M | ||
| Q2 24 | $213.1M | $193.6M |
| Q1 26 | — | — | ||
| Q4 25 | $127.0M | $138.6M | ||
| Q3 25 | $94.4M | $240.9M | ||
| Q2 25 | $80.6M | $178.9M | ||
| Q1 25 | $86.5M | $-77.9M | ||
| Q4 24 | $150.9M | $195.3M | ||
| Q3 24 | $146.0M | $178.5M | ||
| Q2 24 | $98.7M | $193.0M |
| Q1 26 | — | — | ||
| Q4 25 | 12.0% | 26.1% | ||
| Q3 25 | 9.4% | 54.5% | ||
| Q2 25 | 7.8% | 44.6% | ||
| Q1 25 | 8.7% | -24.2% | ||
| Q4 24 | 14.5% | 41.5% | ||
| Q3 24 | 15.2% | 55.7% | ||
| Q2 24 | 10.2% | 53.9% |
| Q1 26 | — | — | ||
| Q4 25 | 14.0% | 3.2% | ||
| Q3 25 | 14.5% | 3.4% | ||
| Q2 25 | 12.0% | 2.9% | ||
| Q1 25 | 17.1% | 0.6% | ||
| Q4 24 | 10.7% | 0.1% | ||
| Q3 24 | 8.9% | 0.6% | ||
| Q2 24 | 11.8% | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.96× | 2.92× | ||
| Q3 25 | 0.17× | 6.43× | ||
| Q2 25 | 1.35× | 5.79× | ||
| Q1 25 | 2.30× | -1.41× | ||
| Q4 24 | 1.54× | 3.81× | ||
| Q3 24 | 1.76× | 8.15× | ||
| Q2 24 | 1.52× | 6.84× |
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% |
PJT
Segment breakdown not available.
