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Side-by-side financial comparison of BOYD GAMING CORP (BYD) and Public Storage (PSA). Click either name above to swap in a different company.
Public Storage is the larger business by last-quarter revenue ($1.2B vs $997.4M, roughly 1.2× BOYD GAMING CORP). Public Storage runs the higher net margin — 41.7% vs 10.5%, a 31.3% gap on every dollar of revenue. On growth, Public Storage posted the faster year-over-year revenue change (3.3% vs 0.6%). Over the past eight quarters, Public Storage's revenue compounded faster (2.5% CAGR vs 1.5%).
Boyd Gaming Corporation is an American gambling and hospitality company based in Paradise, Nevada, US.
Public Storage, headquartered in Glendale, California, is a real estate investment trust that invests in self storage. It is the largest brand of self-storage services in the US and owns approximately 9% of the self storage square footage in the U.S. As of December 31, 2024, the company operated 3,073 self-storage facilities containing an aggregate of 221 million net rentable square feet of space.
BYD vs PSA — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $997.4M | $1.2B |
| Net Profit | $104.3M | $507.1M |
| Gross Margin | — | — |
| Operating Margin | 16.4% | 40.7% |
| Net Margin | 10.5% | 41.7% |
| Revenue YoY | 0.6% | 3.3% |
| Net Profit YoY | -5.9% | -17.5% |
| EPS (diluted) | $1.37 | $2.59 |
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 | $1.2B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $991.6M | $1.2B | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $961.2M | $1.2B | ||
| Q2 24 | $967.5M | $1.2B |
| Q1 26 | $104.3M | — | ||
| Q4 25 | $140.4M | $507.1M | ||
| Q3 25 | $1.4B | $511.1M | ||
| Q2 25 | $151.5M | $358.4M | ||
| Q1 25 | $111.4M | $407.8M | ||
| Q4 24 | $170.5M | $614.6M | ||
| Q3 24 | $131.1M | $430.3M | ||
| Q2 24 | $139.8M | $518.1M |
| Q1 26 | 16.4% | — | ||
| Q4 25 | 15.7% | 40.7% | ||
| Q3 25 | 13.9% | 42.3% | ||
| Q2 25 | 23.4% | 30.4% | ||
| Q1 25 | 20.2% | 34.8% | ||
| Q4 24 | 25.1% | 52.4% | ||
| Q3 24 | 22.9% | 36.7% | ||
| Q2 24 | 23.5% | 44.6% |
| Q1 26 | 10.5% | — | ||
| Q4 25 | 13.2% | 41.7% | ||
| Q3 25 | 143.4% | 41.8% | ||
| Q2 25 | 14.6% | 29.8% | ||
| Q1 25 | 11.2% | 34.5% | ||
| Q4 24 | 16.4% | 52.2% | ||
| Q3 24 | 13.6% | 36.2% | ||
| Q2 24 | 14.5% | 44.2% |
| Q1 26 | $1.37 | — | ||
| Q4 25 | $1.60 | $2.59 | ||
| Q3 25 | $17.81 | $2.62 | ||
| Q2 25 | $1.84 | $1.76 | ||
| Q1 25 | $1.31 | $2.04 | ||
| Q4 24 | $1.89 | $3.22 | ||
| Q3 24 | $1.43 | $2.16 | ||
| Q2 24 | $1.47 | $2.66 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $318.1M |
| Total DebtLower is stronger | — | $10.3B |
| Stockholders' EquityBook value | — | $9.2B |
| Total Assets | — | $20.2B |
| Debt / EquityLower = less leverage | — | 1.11× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $353.4M | $318.1M | ||
| Q3 25 | $319.1M | $296.5M | ||
| Q2 25 | $320.1M | $1.1B | ||
| Q1 25 | $311.5M | $287.2M | ||
| Q4 24 | $316.7M | $447.4M | ||
| Q3 24 | $286.3M | $599.0M | ||
| Q2 24 | $280.8M | $542.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $10.3B | ||
| Q3 25 | — | $10.0B | ||
| Q2 25 | $3.6B | $10.4B | ||
| Q1 25 | $3.5B | $9.4B | ||
| Q4 24 | $3.2B | $9.4B | ||
| Q3 24 | $3.1B | $9.5B | ||
| Q2 24 | $3.0B | $9.4B |
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $9.2B | ||
| Q3 25 | $2.7B | $9.3B | ||
| Q2 25 | $1.4B | $9.4B | ||
| Q1 25 | $1.3B | $9.6B | ||
| Q4 24 | $1.6B | $9.7B | ||
| Q3 24 | $1.6B | $9.6B | ||
| Q2 24 | $1.7B | $9.7B |
| Q1 26 | — | — | ||
| Q4 25 | $6.6B | $20.2B | ||
| Q3 25 | $6.5B | $20.1B | ||
| Q2 25 | $6.6B | $20.5B | ||
| Q1 25 | $6.5B | $19.6B | ||
| Q4 24 | $6.4B | $19.8B | ||
| Q3 24 | $6.3B | $19.8B | ||
| Q2 24 | $6.3B | $19.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.11× | ||
| Q3 25 | — | 1.08× | ||
| Q2 25 | 2.56× | 1.11× | ||
| Q1 25 | 2.61× | 0.99× | ||
| Q4 24 | 2.01× | 0.96× | ||
| Q3 24 | 1.88× | 0.99× | ||
| Q2 24 | 1.73× | 0.97× |
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 | — | $733.6M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 1.45× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $275.3M | $733.6M | ||
| Q3 25 | $240.0M | $875.1M | ||
| Q2 25 | $205.0M | $872.7M | ||
| Q1 25 | $256.4M | $705.1M | ||
| Q4 24 | $262.1M | $768.6M | ||
| Q3 24 | $231.2M | $798.8M | ||
| Q2 24 | $213.1M | $895.3M |
| Q1 26 | — | — | ||
| Q4 25 | $127.0M | — | ||
| Q3 25 | $94.4M | — | ||
| Q2 25 | $80.6M | — | ||
| Q1 25 | $86.5M | — | ||
| Q4 24 | $150.9M | — | ||
| Q3 24 | $146.0M | — | ||
| Q2 24 | $98.7M | — |
| Q1 26 | — | — | ||
| Q4 25 | 12.0% | — | ||
| Q3 25 | 9.4% | — | ||
| Q2 25 | 7.8% | — | ||
| Q1 25 | 8.7% | — | ||
| Q4 24 | 14.5% | — | ||
| Q3 24 | 15.2% | — | ||
| Q2 24 | 10.2% | — |
| Q1 26 | — | — | ||
| Q4 25 | 14.0% | — | ||
| Q3 25 | 14.5% | — | ||
| Q2 25 | 12.0% | — | ||
| Q1 25 | 17.1% | — | ||
| Q4 24 | 10.7% | — | ||
| Q3 24 | 8.9% | — | ||
| Q2 24 | 11.8% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.96× | 1.45× | ||
| Q3 25 | 0.17× | 1.71× | ||
| Q2 25 | 1.35× | 2.43× | ||
| Q1 25 | 2.30× | 1.73× | ||
| Q4 24 | 1.54× | 1.25× | ||
| Q3 24 | 1.76× | 1.86× | ||
| Q2 24 | 1.52× | 1.73× |
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% |
PSA
| Self Storage Operations | $1.1B | 93% |
| Ancillary Operations | $86.9M | 7% |
