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Side-by-side financial comparison of BOYD GAMING CORP (BYD) and Trade Desk (The) (TTD). Click either name above to swap in a different company.
BOYD GAMING CORP is the larger business by last-quarter revenue ($997.4M vs $846.8M, roughly 1.2× Trade Desk (The)). Trade Desk (The) runs the higher net margin — 22.1% vs 10.5%, a 11.6% gap on every dollar of revenue. On growth, Trade Desk (The) posted the faster year-over-year revenue change (14.3% vs 0.6%). Over the past eight quarters, Trade Desk (The)'s revenue compounded faster (31.3% CAGR vs 1.5%).
Boyd Gaming Corporation is an American gambling and hospitality company based in Paradise, Nevada, US.
The Trade Desk, Inc. is an American multinational technology company that specializes in real-time programmatic marketing automation technologies, products, and services, designed to personalize digital content delivery to users.
BYD vs TTD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $997.4M | $846.8M |
| Net Profit | $104.3M | $186.9M |
| Gross Margin | — | 80.7% |
| Operating Margin | 16.4% | 30.3% |
| Net Margin | 10.5% | 22.1% |
| Revenue YoY | 0.6% | 14.3% |
| Net Profit YoY | -5.9% | 2.6% |
| EPS (diluted) | $1.37 | $0.39 |
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 | $846.8M | ||
| Q3 25 | $1.0B | $739.4M | ||
| Q2 25 | $1.0B | $694.0M | ||
| Q1 25 | $991.6M | $616.0M | ||
| Q4 24 | $1.0B | $741.0M | ||
| Q3 24 | $961.2M | $628.0M | ||
| Q2 24 | $967.5M | $584.5M |
| Q1 26 | $104.3M | — | ||
| Q4 25 | $140.4M | $186.9M | ||
| Q3 25 | $1.4B | $115.5M | ||
| Q2 25 | $151.5M | $90.1M | ||
| Q1 25 | $111.4M | $50.7M | ||
| Q4 24 | $170.5M | $182.2M | ||
| Q3 24 | $131.1M | $94.2M | ||
| Q2 24 | $139.8M | $85.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 80.7% | ||
| Q3 25 | — | 78.1% | ||
| Q2 25 | — | 78.2% | ||
| Q1 25 | — | 76.8% | ||
| Q4 24 | — | 81.7% | ||
| Q3 24 | — | 80.5% | ||
| Q2 24 | — | 81.1% |
| Q1 26 | 16.4% | — | ||
| Q4 25 | 15.7% | 30.3% | ||
| Q3 25 | 13.9% | 21.8% | ||
| Q2 25 | 23.4% | 16.8% | ||
| Q1 25 | 20.2% | 8.8% | ||
| Q4 24 | 25.1% | 26.4% | ||
| Q3 24 | 22.9% | 17.3% | ||
| Q2 24 | 23.5% | 16.2% |
| Q1 26 | 10.5% | — | ||
| Q4 25 | 13.2% | 22.1% | ||
| Q3 25 | 143.4% | 15.6% | ||
| Q2 25 | 14.6% | 13.0% | ||
| Q1 25 | 11.2% | 8.2% | ||
| Q4 24 | 16.4% | 24.6% | ||
| Q3 24 | 13.6% | 15.0% | ||
| Q2 24 | 14.5% | 14.5% |
| Q1 26 | $1.37 | — | ||
| Q4 25 | $1.60 | $0.39 | ||
| Q3 25 | $17.81 | $0.23 | ||
| Q2 25 | $1.84 | $0.18 | ||
| Q1 25 | $1.31 | $0.10 | ||
| Q4 24 | $1.89 | $0.36 | ||
| Q3 24 | $1.43 | $0.19 | ||
| Q2 24 | $1.47 | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $2.5B |
| Total Assets | — | $6.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $353.4M | $1.3B | ||
| Q3 25 | $319.1M | $1.4B | ||
| Q2 25 | $320.1M | $1.7B | ||
| Q1 25 | $311.5M | $1.7B | ||
| Q4 24 | $316.7M | $1.9B | ||
| Q3 24 | $286.3M | $1.7B | ||
| Q2 24 | $280.8M | $1.5B |
| 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 | $2.5B | ||
| Q3 25 | $2.7B | $2.6B | ||
| Q2 25 | $1.4B | $2.7B | ||
| Q1 25 | $1.3B | $2.7B | ||
| Q4 24 | $1.6B | $2.9B | ||
| Q3 24 | $1.6B | $2.6B | ||
| Q2 24 | $1.7B | $2.4B |
| Q1 26 | — | — | ||
| Q4 25 | $6.6B | $6.2B | ||
| Q3 25 | $6.5B | $5.9B | ||
| Q2 25 | $6.6B | $6.0B | ||
| Q1 25 | $6.5B | $5.7B | ||
| Q4 24 | $6.4B | $6.1B | ||
| Q3 24 | $6.3B | $5.5B | ||
| Q2 24 | $6.3B | $5.2B |
| 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 | — | $311.6M |
| Free Cash FlowOCF − Capex | — | $285.3M |
| FCF MarginFCF / Revenue | — | 33.7% |
| Capex IntensityCapex / Revenue | — | 3.1% |
| Cash ConversionOCF / Net Profit | — | 1.67× |
| TTM Free Cash FlowTrailing 4 quarters | — | $795.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $275.3M | $311.6M | ||
| Q3 25 | $240.0M | $224.7M | ||
| Q2 25 | $205.0M | $165.0M | ||
| Q1 25 | $256.4M | $291.4M | ||
| Q4 24 | $262.1M | $199.4M | ||
| Q3 24 | $231.2M | $273.3M | ||
| Q2 24 | $213.1M | $81.3M |
| Q1 26 | — | — | ||
| Q4 25 | $127.0M | $285.3M | ||
| Q3 25 | $94.4M | $158.3M | ||
| Q2 25 | $80.6M | $119.8M | ||
| Q1 25 | $86.5M | $232.3M | ||
| Q4 24 | $150.9M | $179.2M | ||
| Q3 24 | $146.0M | $224.6M | ||
| Q2 24 | $98.7M | $59.1M |
| Q1 26 | — | — | ||
| Q4 25 | 12.0% | 33.7% | ||
| Q3 25 | 9.4% | 21.4% | ||
| Q2 25 | 7.8% | 17.3% | ||
| Q1 25 | 8.7% | 37.7% | ||
| Q4 24 | 14.5% | 24.2% | ||
| Q3 24 | 15.2% | 35.8% | ||
| Q2 24 | 10.2% | 10.1% |
| Q1 26 | — | — | ||
| Q4 25 | 14.0% | 3.1% | ||
| Q3 25 | 14.5% | 9.0% | ||
| Q2 25 | 12.0% | 6.5% | ||
| Q1 25 | 17.1% | 9.6% | ||
| Q4 24 | 10.7% | 2.7% | ||
| Q3 24 | 8.9% | 7.8% | ||
| Q2 24 | 11.8% | 3.8% |
| Q1 26 | — | — | ||
| Q4 25 | 1.96× | 1.67× | ||
| Q3 25 | 0.17× | 1.94× | ||
| Q2 25 | 1.35× | 1.83× | ||
| Q1 25 | 2.30× | 5.75× | ||
| Q4 24 | 1.54× | 1.09× | ||
| Q3 24 | 1.76× | 2.90× | ||
| Q2 24 | 1.52× | 0.96× |
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% |
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
