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Side-by-side financial comparison of BOYD GAMING CORP (BYD) and WYNDHAM HOTELS & RESORTS, INC. (WH). Click either name above to swap in a different company.
BOYD GAMING CORP is the larger business by last-quarter revenue ($997.4M vs $334.0M, roughly 3.0× WYNDHAM HOTELS & RESORTS, INC.). BOYD GAMING CORP runs the higher net margin — 10.5% vs -18.0%, a 28.4% gap on every dollar of revenue. On growth, BOYD GAMING CORP posted the faster year-over-year revenue change (0.6% vs -0.6%). Over the past eight quarters, WYNDHAM HOTELS & RESORTS, INC.'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.
Wyndham Hotels & Resorts, Inc., is an American hospitality company based in Parsippany, New Jersey, United States. It describes itself as the largest hotel franchisor in the world, with 9,100 locations.
BYD vs WH — Head-to-Head
Income Statement — Q1 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $997.4M | $334.0M |
| Net Profit | $104.3M | $-60.0M |
| Gross Margin | — | — |
| Operating Margin | 16.4% | -11.4% |
| Net Margin | 10.5% | -18.0% |
| Revenue YoY | 0.6% | -0.6% |
| Net Profit YoY | -5.9% | -170.6% |
| EPS (diluted) | $1.37 | $-0.77 |
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 | $334.0M | ||
| Q3 25 | $1.0B | $382.0M | ||
| Q2 25 | $1.0B | $397.0M | ||
| Q1 25 | $991.6M | $316.0M | ||
| Q4 24 | $1.0B | $336.0M | ||
| Q3 24 | $961.2M | $396.0M | ||
| Q2 24 | $967.5M | $367.0M |
| Q1 26 | $104.3M | — | ||
| Q4 25 | $140.4M | $-60.0M | ||
| Q3 25 | $1.4B | $105.0M | ||
| Q2 25 | $151.5M | $87.0M | ||
| Q1 25 | $111.4M | $61.0M | ||
| Q4 24 | $170.5M | $85.0M | ||
| Q3 24 | $131.1M | $102.0M | ||
| Q2 24 | $139.8M | $86.0M |
| Q1 26 | 16.4% | — | ||
| Q4 25 | 15.7% | -11.4% | ||
| Q3 25 | 13.9% | 46.6% | ||
| Q2 25 | 23.4% | 37.8% | ||
| Q1 25 | 20.2% | 35.4% | ||
| Q4 24 | 25.1% | 38.4% | ||
| Q3 24 | 22.9% | 43.2% | ||
| Q2 24 | 23.5% | 39.5% |
| Q1 26 | 10.5% | — | ||
| Q4 25 | 13.2% | -18.0% | ||
| Q3 25 | 143.4% | 27.5% | ||
| Q2 25 | 14.6% | 21.9% | ||
| Q1 25 | 11.2% | 19.3% | ||
| Q4 24 | 16.4% | 25.3% | ||
| Q3 24 | 13.6% | 25.8% | ||
| Q2 24 | 14.5% | 23.4% |
| Q1 26 | $1.37 | — | ||
| Q4 25 | $1.60 | $-0.77 | ||
| Q3 25 | $17.81 | $1.36 | ||
| Q2 25 | $1.84 | $1.13 | ||
| Q1 25 | $1.31 | $0.78 | ||
| Q4 24 | $1.89 | $1.06 | ||
| Q3 24 | $1.43 | $1.29 | ||
| Q2 24 | $1.47 | $1.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $64.0M |
| Total DebtLower is stronger | — | $2.5B |
| Stockholders' EquityBook value | — | $468.0M |
| Total Assets | — | $4.2B |
| Debt / EquityLower = less leverage | — | 5.37× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $353.4M | $64.0M | ||
| Q3 25 | $319.1M | $70.0M | ||
| Q2 25 | $320.1M | $50.0M | ||
| Q1 25 | $311.5M | $48.0M | ||
| Q4 24 | $316.7M | $103.0M | ||
| Q3 24 | $286.3M | $72.0M | ||
| Q2 24 | $280.8M | $70.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.5B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | $3.6B | $2.5B | ||
| Q1 25 | $3.5B | $2.5B | ||
| Q4 24 | $3.2B | $2.4B | ||
| Q3 24 | $3.1B | $2.4B | ||
| Q2 24 | $3.0B | $2.4B |
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $468.0M | ||
| Q3 25 | $2.7B | $583.0M | ||
| Q2 25 | $1.4B | $570.0M | ||
| Q1 25 | $1.3B | $579.0M | ||
| Q4 24 | $1.6B | $650.0M | ||
| Q3 24 | $1.6B | $583.0M | ||
| Q2 24 | $1.7B | $623.0M |
| Q1 26 | — | — | ||
| Q4 25 | $6.6B | $4.2B | ||
| Q3 25 | $6.5B | $4.3B | ||
| Q2 25 | $6.6B | $4.3B | ||
| Q1 25 | $6.5B | $4.2B | ||
| Q4 24 | $6.4B | $4.2B | ||
| Q3 24 | $6.3B | $4.2B | ||
| Q2 24 | $6.3B | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.37× | ||
| Q3 25 | — | 4.43× | ||
| Q2 25 | 2.56× | 4.44× | ||
| Q1 25 | 2.61× | 4.29× | ||
| Q4 24 | 2.01× | 3.72× | ||
| Q3 24 | 1.88× | 4.19× | ||
| Q2 24 | 1.73× | 3.83× |
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 | — | $152.0M |
| Free Cash FlowOCF − Capex | — | $136.0M |
| FCF MarginFCF / Revenue | — | 40.7% |
| Capex IntensityCapex / Revenue | — | 4.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $321.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $275.3M | $152.0M | ||
| Q3 25 | $240.0M | $86.0M | ||
| Q2 25 | $205.0M | $70.0M | ||
| Q1 25 | $256.4M | $59.0M | ||
| Q4 24 | $262.1M | $134.0M | ||
| Q3 24 | $231.2M | $79.0M | ||
| Q2 24 | $213.1M | $1.0M |
| Q1 26 | — | — | ||
| Q4 25 | $127.0M | $136.0M | ||
| Q3 25 | $94.4M | $75.0M | ||
| Q2 25 | $80.6M | $58.0M | ||
| Q1 25 | $86.5M | $52.0M | ||
| Q4 24 | $150.9M | $109.0M | ||
| Q3 24 | $146.0M | $71.0M | ||
| Q2 24 | $98.7M | $-6.0M |
| Q1 26 | — | — | ||
| Q4 25 | 12.0% | 40.7% | ||
| Q3 25 | 9.4% | 19.6% | ||
| Q2 25 | 7.8% | 14.6% | ||
| Q1 25 | 8.7% | 16.5% | ||
| Q4 24 | 14.5% | 32.4% | ||
| Q3 24 | 15.2% | 17.9% | ||
| Q2 24 | 10.2% | -1.6% |
| Q1 26 | — | — | ||
| Q4 25 | 14.0% | 4.8% | ||
| Q3 25 | 14.5% | 2.9% | ||
| Q2 25 | 12.0% | 3.0% | ||
| Q1 25 | 17.1% | 2.2% | ||
| Q4 24 | 10.7% | 7.4% | ||
| Q3 24 | 8.9% | 2.0% | ||
| Q2 24 | 11.8% | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.96× | — | ||
| Q3 25 | 0.17× | 0.82× | ||
| Q2 25 | 1.35× | 0.80× | ||
| Q1 25 | 2.30× | 0.97× | ||
| Q4 24 | 1.54× | 1.58× | ||
| Q3 24 | 1.76× | 0.77× | ||
| Q2 24 | 1.52× | 0.01× |
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% |
WH
Segment breakdown not available.
