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Side-by-side financial comparison of BOYD GAMING CORP (BYD) and WillScot Holdings Corp (WSC). Click either name above to swap in a different company.
BOYD GAMING CORP is the larger business by last-quarter revenue ($997.4M vs $566.0M, roughly 1.8× WillScot Holdings Corp). BOYD GAMING CORP runs the higher net margin — 10.5% vs -33.1%, a 43.6% gap on every dollar of revenue. On growth, BOYD GAMING CORP posted the faster year-over-year revenue change (0.6% vs -6.1%). Over the past eight quarters, BOYD GAMING CORP's revenue compounded faster (1.5% CAGR vs -1.8%).
Boyd Gaming Corporation is an American gambling and hospitality company based in Paradise, Nevada, US.
WillScot Holdings Corp is a leading provider of modular space solutions and portable storage services across North America. It serves a wide range of sectors including construction, commercial development, education, healthcare, government projects, and special events, offering flexible, scalable temporary and semi-permanent space solutions tailored to diverse client needs.
BYD vs WSC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $997.4M | $566.0M |
| Net Profit | $104.3M | $-187.3M |
| Gross Margin | — | 50.4% |
| Operating Margin | 16.4% | -32.5% |
| Net Margin | 10.5% | -33.1% |
| Revenue YoY | 0.6% | -6.1% |
| Net Profit YoY | -5.9% | -310.0% |
| EPS (diluted) | $1.37 | $-1.02 |
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 | $566.0M | ||
| Q3 25 | $1.0B | $566.8M | ||
| Q2 25 | $1.0B | $589.1M | ||
| Q1 25 | $991.6M | $559.6M | ||
| Q4 24 | $1.0B | $602.5M | ||
| Q3 24 | $961.2M | $601.4M | ||
| Q2 24 | $967.5M | $604.6M |
| Q1 26 | $104.3M | — | ||
| Q4 25 | $140.4M | $-187.3M | ||
| Q3 25 | $1.4B | $43.3M | ||
| Q2 25 | $151.5M | $47.9M | ||
| Q1 25 | $111.4M | $43.1M | ||
| Q4 24 | $170.5M | $89.2M | ||
| Q3 24 | $131.1M | $-70.5M | ||
| Q2 24 | $139.8M | $-46.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 50.4% | ||
| Q3 25 | — | 49.7% | ||
| Q2 25 | — | 50.3% | ||
| Q1 25 | — | 53.7% | ||
| Q4 24 | — | 55.8% | ||
| Q3 24 | — | 53.5% | ||
| Q2 24 | — | 54.1% |
| Q1 26 | 16.4% | — | ||
| Q4 25 | 15.7% | -32.5% | ||
| Q3 25 | 13.9% | 21.0% | ||
| Q2 25 | 23.4% | 21.5% | ||
| Q1 25 | 20.2% | 21.3% | ||
| Q4 24 | 25.1% | 28.9% | ||
| Q3 24 | 22.9% | -5.9% | ||
| Q2 24 | 23.5% | -0.9% |
| Q1 26 | 10.5% | — | ||
| Q4 25 | 13.2% | -33.1% | ||
| Q3 25 | 143.4% | 7.6% | ||
| Q2 25 | 14.6% | 8.1% | ||
| Q1 25 | 11.2% | 7.7% | ||
| Q4 24 | 16.4% | 14.8% | ||
| Q3 24 | 13.6% | -11.7% | ||
| Q2 24 | 14.5% | -7.7% |
| Q1 26 | $1.37 | — | ||
| Q4 25 | $1.60 | $-1.02 | ||
| Q3 25 | $17.81 | $0.24 | ||
| Q2 25 | $1.84 | $0.26 | ||
| Q1 25 | $1.31 | $0.23 | ||
| Q4 24 | $1.89 | $0.48 | ||
| Q3 24 | $1.43 | $-0.37 | ||
| Q2 24 | $1.47 | $-0.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $14.6M |
| Total DebtLower is stronger | — | $3.6B |
| Stockholders' EquityBook value | — | $856.3M |
| Total Assets | — | $5.8B |
| Debt / EquityLower = less leverage | — | 4.15× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $353.4M | $14.6M | ||
| Q3 25 | $319.1M | $14.8M | ||
| Q2 25 | $320.1M | $12.8M | ||
| Q1 25 | $311.5M | $10.7M | ||
| Q4 24 | $316.7M | $9.0M | ||
| Q3 24 | $286.3M | $11.0M | ||
| Q2 24 | $280.8M | $5.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.6B | ||
| Q3 25 | — | $3.6B | ||
| Q2 25 | $3.6B | $3.7B | ||
| Q1 25 | $3.5B | $3.6B | ||
| Q4 24 | $3.2B | $3.7B | ||
| Q3 24 | $3.1B | $3.6B | ||
| Q2 24 | $3.0B | $3.5B |
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $856.3M | ||
| Q3 25 | $2.7B | $1.1B | ||
| Q2 25 | $1.4B | $1.0B | ||
| Q1 25 | $1.3B | $1.0B | ||
| Q4 24 | $1.6B | $1.0B | ||
| Q3 24 | $1.6B | $1.1B | ||
| Q2 24 | $1.7B | $1.2B |
| Q1 26 | — | — | ||
| Q4 25 | $6.6B | $5.8B | ||
| Q3 25 | $6.5B | $6.1B | ||
| Q2 25 | $6.6B | $6.1B | ||
| Q1 25 | $6.5B | $6.0B | ||
| Q4 24 | $6.4B | $6.0B | ||
| Q3 24 | $6.3B | $6.0B | ||
| Q2 24 | $6.3B | $6.0B |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.15× | ||
| Q3 25 | — | 3.39× | ||
| Q2 25 | 2.56× | 3.55× | ||
| Q1 25 | 2.61× | 3.56× | ||
| Q4 24 | 2.01× | 3.62× | ||
| Q3 24 | 1.88× | 3.42× | ||
| Q2 24 | 1.73× | 2.88× |
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 | — | $158.9M |
| Free Cash FlowOCF − Capex | — | $149.7M |
| FCF MarginFCF / Revenue | — | 26.5% |
| Capex IntensityCapex / Revenue | — | 1.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $737.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $275.3M | $158.9M | ||
| Q3 25 | $240.0M | $191.2M | ||
| Q2 25 | $205.0M | $205.3M | ||
| Q1 25 | $256.4M | $206.6M | ||
| Q4 24 | $262.1M | $178.9M | ||
| Q3 24 | $231.2M | $-1.6M | ||
| Q2 24 | $213.1M | $175.6M |
| Q1 26 | — | — | ||
| Q4 25 | $127.0M | $149.7M | ||
| Q3 25 | $94.4M | $186.9M | ||
| Q2 25 | $80.6M | $199.0M | ||
| Q1 25 | $86.5M | $202.0M | ||
| Q4 24 | $150.9M | $176.6M | ||
| Q3 24 | $146.0M | $-4.9M | ||
| Q2 24 | $98.7M | $169.4M |
| Q1 26 | — | — | ||
| Q4 25 | 12.0% | 26.5% | ||
| Q3 25 | 9.4% | 33.0% | ||
| Q2 25 | 7.8% | 33.8% | ||
| Q1 25 | 8.7% | 36.1% | ||
| Q4 24 | 14.5% | 29.3% | ||
| Q3 24 | 15.2% | -0.8% | ||
| Q2 24 | 10.2% | 28.0% |
| Q1 26 | — | — | ||
| Q4 25 | 14.0% | 1.6% | ||
| Q3 25 | 14.5% | 0.7% | ||
| Q2 25 | 12.0% | 1.1% | ||
| Q1 25 | 17.1% | 0.8% | ||
| Q4 24 | 10.7% | 0.4% | ||
| Q3 24 | 8.9% | 0.6% | ||
| Q2 24 | 11.8% | 1.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.96× | — | ||
| Q3 25 | 0.17× | 4.41× | ||
| Q2 25 | 1.35× | 4.28× | ||
| Q1 25 | 2.30× | 4.80× | ||
| Q4 24 | 1.54× | 2.01× | ||
| Q3 24 | 1.76× | — | ||
| Q2 24 | 1.52× | — |
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% |
WSC
| Modular Space Leasing | $249.8M | 44% |
| Value Added Product And Services | $101.0M | 18% |
| Portable Storage Leasing | $83.0M | 15% |
| Delivery Revenue | $48.2M | 9% |
| Installation Revenue | $45.0M | 8% |
| Rental Units | $19.7M | 3% |
| New Units | $15.5M | 3% |
| Value Added Services | $10.3M | 2% |
| Other Leasing Related Products And Services | $3.8M | 1% |
