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Side-by-side financial comparison of BOYD GAMING CORP (BYD) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
BOYD GAMING CORP is the larger business by last-quarter revenue ($997.4M vs $625.1M, roughly 1.6× WATTS WATER TECHNOLOGIES INC). WATTS WATER TECHNOLOGIES INC runs the higher net margin — 13.4% vs 10.5%, a 2.9% gap on every dollar of revenue. On growth, WATTS WATER TECHNOLOGIES INC posted the faster year-over-year revenue change (15.7% vs 0.6%). Over the past eight quarters, WATTS WATER TECHNOLOGIES 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.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
BYD vs WTS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $997.4M | $625.1M |
| Net Profit | $104.3M | $83.7M |
| Gross Margin | — | 49.5% |
| Operating Margin | 16.4% | 18.2% |
| Net Margin | 10.5% | 13.4% |
| Revenue YoY | 0.6% | 15.7% |
| Net Profit YoY | -5.9% | 24.0% |
| EPS (diluted) | $1.37 | $2.50 |
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 | $625.1M | ||
| Q3 25 | $1.0B | $611.7M | ||
| Q2 25 | $1.0B | $643.7M | ||
| Q1 25 | $991.6M | $558.0M | ||
| Q4 24 | $1.0B | $540.4M | ||
| Q3 24 | $961.2M | $543.6M | ||
| Q2 24 | $967.5M | $597.3M |
| Q1 26 | $104.3M | — | ||
| Q4 25 | $140.4M | $83.7M | ||
| Q3 25 | $1.4B | $82.2M | ||
| Q2 25 | $151.5M | $100.9M | ||
| Q1 25 | $111.4M | $74.0M | ||
| Q4 24 | $170.5M | $67.5M | ||
| Q3 24 | $131.1M | $69.1M | ||
| Q2 24 | $139.8M | $82.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 49.5% | ||
| Q3 25 | — | 48.8% | ||
| Q2 25 | — | 50.6% | ||
| Q1 25 | — | 48.8% | ||
| Q4 24 | — | 46.7% | ||
| Q3 24 | — | 47.3% | ||
| Q2 24 | — | 47.7% |
| Q1 26 | 16.4% | — | ||
| Q4 25 | 15.7% | 18.2% | ||
| Q3 25 | 13.9% | 18.2% | ||
| Q2 25 | 23.4% | 21.0% | ||
| Q1 25 | 20.2% | 15.7% | ||
| Q4 24 | 25.1% | 16.5% | ||
| Q3 24 | 22.9% | 17.1% | ||
| Q2 24 | 23.5% | 18.7% |
| Q1 26 | 10.5% | — | ||
| Q4 25 | 13.2% | 13.4% | ||
| Q3 25 | 143.4% | 13.4% | ||
| Q2 25 | 14.6% | 15.7% | ||
| Q1 25 | 11.2% | 13.3% | ||
| Q4 24 | 16.4% | 12.5% | ||
| Q3 24 | 13.6% | 12.7% | ||
| Q2 24 | 14.5% | 13.7% |
| Q1 26 | $1.37 | — | ||
| Q4 25 | $1.60 | $2.50 | ||
| Q3 25 | $17.81 | $2.45 | ||
| Q2 25 | $1.84 | $3.01 | ||
| Q1 25 | $1.31 | $2.21 | ||
| Q4 24 | $1.89 | $2.02 | ||
| Q3 24 | $1.43 | $2.06 | ||
| Q2 24 | $1.47 | $2.44 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $405.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $2.0B |
| Total Assets | — | $2.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $353.4M | $405.5M | ||
| Q3 25 | $319.1M | $457.7M | ||
| Q2 25 | $320.1M | $369.3M | ||
| Q1 25 | $311.5M | $336.8M | ||
| Q4 24 | $316.7M | $386.9M | ||
| Q3 24 | $286.3M | $303.9M | ||
| Q2 24 | $280.8M | $279.4M |
| 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 | $2.0B | ||
| Q3 25 | $2.7B | $2.0B | ||
| Q2 25 | $1.4B | $1.9B | ||
| Q1 25 | $1.3B | $1.8B | ||
| Q4 24 | $1.6B | $1.7B | ||
| Q3 24 | $1.6B | $1.7B | ||
| Q2 24 | $1.7B | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | $6.6B | $2.9B | ||
| Q3 25 | $6.5B | $2.7B | ||
| Q2 25 | $6.6B | $2.6B | ||
| Q1 25 | $6.5B | $2.5B | ||
| Q4 24 | $6.4B | $2.4B | ||
| Q3 24 | $6.3B | $2.4B | ||
| Q2 24 | $6.3B | $2.4B |
| 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 | — | $154.7M |
| Free Cash FlowOCF − Capex | — | $140.3M |
| FCF MarginFCF / Revenue | — | 22.4% |
| Capex IntensityCapex / Revenue | — | 2.3% |
| Cash ConversionOCF / Net Profit | — | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | — | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $275.3M | $154.7M | ||
| Q3 25 | $240.0M | $122.4M | ||
| Q2 25 | $205.0M | $69.7M | ||
| Q1 25 | $256.4M | $55.2M | ||
| Q4 24 | $262.1M | $139.5M | ||
| Q3 24 | $231.2M | $90.7M | ||
| Q2 24 | $213.1M | $85.3M |
| Q1 26 | — | — | ||
| Q4 25 | $127.0M | $140.3M | ||
| Q3 25 | $94.4M | $110.9M | ||
| Q2 25 | $80.6M | $59.5M | ||
| Q1 25 | $86.5M | $45.6M | ||
| Q4 24 | $150.9M | $127.5M | ||
| Q3 24 | $146.0M | $84.3M | ||
| Q2 24 | $98.7M | $78.5M |
| Q1 26 | — | — | ||
| Q4 25 | 12.0% | 22.4% | ||
| Q3 25 | 9.4% | 18.1% | ||
| Q2 25 | 7.8% | 9.2% | ||
| Q1 25 | 8.7% | 8.2% | ||
| Q4 24 | 14.5% | 23.6% | ||
| Q3 24 | 15.2% | 15.5% | ||
| Q2 24 | 10.2% | 13.1% |
| Q1 26 | — | — | ||
| Q4 25 | 14.0% | 2.3% | ||
| Q3 25 | 14.5% | 1.9% | ||
| Q2 25 | 12.0% | 1.6% | ||
| Q1 25 | 17.1% | 1.7% | ||
| Q4 24 | 10.7% | 2.2% | ||
| Q3 24 | 8.9% | 1.2% | ||
| Q2 24 | 11.8% | 1.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.96× | 1.85× | ||
| Q3 25 | 0.17× | 1.49× | ||
| Q2 25 | 1.35× | 0.69× | ||
| Q1 25 | 2.30× | 0.75× | ||
| Q4 24 | 1.54× | 2.07× | ||
| Q3 24 | 1.76× | 1.31× | ||
| Q2 24 | 1.52× | 1.04× |
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% |
WTS
Segment breakdown not available.
