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Side-by-side financial comparison of BOYD GAMING CORP (BYD) and Royalty Pharma plc (RPRX). Click either name above to swap in a different company.
BOYD GAMING CORP is the larger business by last-quarter revenue ($997.4M vs $622.0M, roughly 1.6× Royalty Pharma plc). Royalty Pharma plc runs the higher net margin — 34.4% vs 10.5%, a 24.0% gap on every dollar of revenue. On growth, Royalty Pharma plc posted the faster year-over-year revenue change (4.8% vs 0.6%). Over the past eight quarters, Royalty Pharma plc's revenue compounded faster (4.6% CAGR vs 1.5%).
Boyd Gaming Corporation is an American gambling and hospitality company based in Paradise, Nevada, US.
Acceleron Pharma, Inc. is an American clinical stage biopharmaceutical company based in Cambridge, Massachusetts with a broad focus on developing medicines that regulate the transforming growth factor beta (TGF-β) superfamily of proteins, which play fundamental roles in the growth and repair of cells and tissues such as red blood cells, muscle, bone, and blood vessels.
BYD vs RPRX — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $997.4M | $622.0M |
| Net Profit | $104.3M | $214.2M |
| Gross Margin | — | — |
| Operating Margin | 16.4% | 62.4% |
| Net Margin | 10.5% | 34.4% |
| Revenue YoY | 0.6% | 4.8% |
| Net Profit YoY | -5.9% | 2.9% |
| EPS (diluted) | $1.37 | $0.49 |
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 | $622.0M | ||
| Q3 25 | $1.0B | $609.3M | ||
| Q2 25 | $1.0B | $578.7M | ||
| Q1 25 | $991.6M | $568.2M | ||
| Q4 24 | $1.0B | $593.6M | ||
| Q3 24 | $961.2M | $564.7M | ||
| Q2 24 | $967.5M | $537.3M |
| Q1 26 | $104.3M | — | ||
| Q4 25 | $140.4M | $214.2M | ||
| Q3 25 | $1.4B | $288.2M | ||
| Q2 25 | $151.5M | $30.2M | ||
| Q1 25 | $111.4M | $238.3M | ||
| Q4 24 | $170.5M | $208.2M | ||
| Q3 24 | $131.1M | $544.0M | ||
| Q2 24 | $139.8M | $102.0M |
| Q1 26 | 16.4% | — | ||
| Q4 25 | 15.7% | 62.4% | ||
| Q3 25 | 13.9% | 70.1% | ||
| Q2 25 | 23.4% | 36.3% | ||
| Q1 25 | 20.2% | 94.0% | ||
| Q4 24 | 25.1% | 60.9% | ||
| Q3 24 | 22.9% | — | ||
| Q2 24 | 23.5% | 50.2% |
| Q1 26 | 10.5% | — | ||
| Q4 25 | 13.2% | 34.4% | ||
| Q3 25 | 143.4% | 47.3% | ||
| Q2 25 | 14.6% | 5.2% | ||
| Q1 25 | 11.2% | 41.9% | ||
| Q4 24 | 16.4% | 35.1% | ||
| Q3 24 | 13.6% | 96.3% | ||
| Q2 24 | 14.5% | 19.0% |
| Q1 26 | $1.37 | — | ||
| Q4 25 | $1.60 | $0.49 | ||
| Q3 25 | $17.81 | $0.67 | ||
| Q2 25 | $1.84 | $0.07 | ||
| Q1 25 | $1.31 | $0.55 | ||
| Q4 24 | $1.89 | $0.46 | ||
| Q3 24 | $1.43 | $1.21 | ||
| Q2 24 | $1.47 | $0.23 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $618.7M |
| Total DebtLower is stronger | — | $9.0B |
| Stockholders' EquityBook value | — | $9.7B |
| Total Assets | — | $19.6B |
| Debt / EquityLower = less leverage | — | 0.92× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $353.4M | $618.7M | ||
| Q3 25 | $319.1M | $938.9M | ||
| Q2 25 | $320.1M | $631.9M | ||
| Q1 25 | $311.5M | $1.1B | ||
| Q4 24 | $316.7M | $929.0M | ||
| Q3 24 | $286.3M | $950.1M | ||
| Q2 24 | $280.8M | $1.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | $3.6B | $8.0B | ||
| Q1 25 | $3.5B | $7.6B | ||
| Q4 24 | $3.2B | $7.6B | ||
| Q3 24 | $3.1B | $7.6B | ||
| Q2 24 | $3.0B | $7.6B |
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $9.7B | ||
| Q3 25 | $2.7B | $9.6B | ||
| Q2 25 | $1.4B | $9.5B | ||
| Q1 25 | $1.3B | $9.8B | ||
| Q4 24 | $1.6B | $10.3B | ||
| Q3 24 | $1.6B | $10.3B | ||
| Q2 24 | $1.7B | $9.8B |
| Q1 26 | — | — | ||
| Q4 25 | $6.6B | $19.6B | ||
| Q3 25 | $6.5B | $19.3B | ||
| Q2 25 | $6.6B | $18.3B | ||
| Q1 25 | $6.5B | $17.6B | ||
| Q4 24 | $6.4B | $18.2B | ||
| Q3 24 | $6.3B | $18.0B | ||
| Q2 24 | $6.3B | $17.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | 2.56× | 0.84× | ||
| Q1 25 | 2.61× | 0.78× | ||
| Q4 24 | 2.01× | 0.74× | ||
| Q3 24 | 1.88× | 0.74× | ||
| Q2 24 | 1.73× | 0.78× |
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 | — | $827.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 3.86× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $275.3M | $827.1M | ||
| Q3 25 | $240.0M | $702.6M | ||
| Q2 25 | $205.0M | $364.0M | ||
| Q1 25 | $256.4M | $596.1M | ||
| Q4 24 | $262.1M | $742.5M | ||
| Q3 24 | $231.2M | $703.6M | ||
| Q2 24 | $213.1M | $658.2M |
| 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× | 3.86× | ||
| Q3 25 | 0.17× | 2.44× | ||
| Q2 25 | 1.35× | 12.06× | ||
| Q1 25 | 2.30× | 2.50× | ||
| Q4 24 | 1.54× | 3.57× | ||
| Q3 24 | 1.76× | 1.29× | ||
| Q2 24 | 1.52× | 6.45× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
