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BOYD GAMING CORP（BYD）与林肯电气（LECO）财务数据对比。点击上方公司名可切换其他公司
林肯电气的季度营收约是BOYD GAMING CORP的1.1倍（$1.1B vs $997.4M），林肯电气净利率更高（12.6% vs 10.5%，领先2.2%），林肯电气同比增速更快（5.5% vs 0.6%），过去两年林肯电气的营收复合增速更高（4.9% vs 1.5%）
博伊德博彩集团是总部位于美国内华达州帕拉代斯的知名博彩及酒店服务运营商，核心业务涵盖赌场运营、休闲度假配套服务等板块，为全球游客提供优质的综合娱乐体验。
林肯电气是美国跨国焊接产品制造企业，总部位于俄亥俄州欧几里得市，主营弧焊设备、焊接配件、等离子及氧燃料切割设备、焊接机器人系统等，业务覆盖160余个国家和地区，在全球设有42个生产基地，同时在19个国家布局了生产联盟及合资企业。
BYD vs LECO — 直观对比
营收规模更大
LECO
是对方的1.1倍
$997.4M
营收增速更快
LECO
高出5.0%
0.6%
净利率更高
LECO
高出2.2%
10.5%
两年增速更快
LECO
近两年复合增速
1.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $997.4M | $1.1B |
| 净利润 | $104.3M | $136.0M |
| 毛利率 | — | 34.7% |
| 营业利润率 | 16.4% | 17.1% |
| 净利率 | 10.5% | 12.6% |
| 营收同比 | 0.6% | 5.5% |
| 净利润同比 | -5.9% | -3.0% |
| 每股收益（稀释后） | $1.37 | $2.45 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收BYDLECO
| Q1 26 | $997.4M | — | ||
| Q4 25 | $1.1B | $1.1B | ||
| Q3 25 | $1.0B | $1.1B | ||
| Q2 25 | $1.0B | $1.1B | ||
| Q1 25 | $991.6M | $1.0B | ||
| Q4 24 | $1.0B | $1.0B | ||
| Q3 24 | $961.2M | $983.8M | ||
| Q2 24 | $967.5M | $1.0B |
净利润BYDLECO
| Q1 26 | $104.3M | — | ||
| Q4 25 | $140.4M | $136.0M | ||
| Q3 25 | $1.4B | $122.6M | ||
| Q2 25 | $151.5M | $143.4M | ||
| Q1 25 | $111.4M | $118.5M | ||
| Q4 24 | $170.5M | $140.2M | ||
| Q3 24 | $131.1M | $100.8M | ||
| Q2 24 | $139.8M | $101.7M |
毛利率BYDLECO
| Q1 26 | — | — | ||
| Q4 25 | — | 34.7% | ||
| Q3 25 | — | 36.7% | ||
| Q2 25 | — | 37.3% | ||
| Q1 25 | — | 36.4% | ||
| Q4 24 | — | 36.1% | ||
| Q3 24 | — | 35.8% | ||
| Q2 24 | — | 37.6% |
营业利润率BYDLECO
| Q1 26 | 16.4% | — | ||
| Q4 25 | 15.7% | 17.1% | ||
| Q3 25 | 13.9% | 16.6% | ||
| Q2 25 | 23.4% | 17.6% | ||
| Q1 25 | 20.2% | 16.4% | ||
| Q4 24 | 25.1% | 17.3% | ||
| Q3 24 | 22.9% | 14.8% | ||
| Q2 24 | 23.5% | 14.6% |
净利率BYDLECO
| Q1 26 | 10.5% | — | ||
| Q4 25 | 13.2% | 12.6% | ||
| Q3 25 | 143.4% | 11.6% | ||
| Q2 25 | 14.6% | 13.2% | ||
| Q1 25 | 11.2% | 11.8% | ||
| Q4 24 | 16.4% | 13.7% | ||
| Q3 24 | 13.6% | 10.2% | ||
| Q2 24 | 14.5% | 10.0% |
每股收益（稀释后）BYDLECO
| Q1 26 | $1.37 | — | ||
| Q4 25 | $1.60 | $2.45 | ||
| Q3 25 | $17.81 | $2.21 | ||
| Q2 25 | $1.84 | $2.56 | ||
| Q1 25 | $1.31 | $2.10 | ||
| Q4 24 | $1.89 | $2.47 | ||
| Q3 24 | $1.43 | $1.77 | ||
| Q2 24 | $1.47 | $1.77 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $308.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $1.5B |
| 总资产 | — | $3.8B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资BYDLECO
| Q1 26 | — | — | ||
| Q4 25 | $353.4M | $308.8M | ||
| Q3 25 | $319.1M | $293.0M | ||
| Q2 25 | $320.1M | $299.5M | ||
| Q1 25 | $311.5M | $394.7M | ||
| Q4 24 | $316.7M | $377.3M | ||
| Q3 24 | $286.3M | $404.2M | ||
| Q2 24 | $280.8M | $272.7M |
总债务BYDLECO
| 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 | — |
股东权益BYDLECO
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $1.5B | ||
| Q3 25 | $2.7B | $1.4B | ||
| Q2 25 | $1.4B | $1.4B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $1.6B | $1.3B | ||
| Q2 24 | $1.7B | $1.3B |
总资产BYDLECO
| Q1 26 | — | — | ||
| Q4 25 | $6.6B | $3.8B | ||
| Q3 25 | $6.5B | $3.8B | ||
| Q2 25 | $6.6B | $3.7B | ||
| Q1 25 | $6.5B | $3.6B | ||
| Q4 24 | $6.4B | $3.5B | ||
| Q3 24 | $6.3B | $3.7B | ||
| Q2 24 | $6.3B | $3.4B |
负债/权益比BYDLECO
| 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× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $95.0M |
| 自由现金流经营现金流 - 资本支出 | — | $52.0M |
| 自由现金流率自由现金流/营收 | — | 4.8% |
| 资本支出强度资本支出/营收 | — | 4.0% |
| 现金转化率经营现金流/净利润 | — | 0.70× |
| 过去12个月自由现金流最近4个季度 | — | $534.2M |
8季度趋势，按日历期对齐
经营现金流BYDLECO
| Q1 26 | — | — | ||
| Q4 25 | $275.3M | $95.0M | ||
| Q3 25 | $240.0M | $236.7M | ||
| Q2 25 | $205.0M | $143.8M | ||
| Q1 25 | $256.4M | $185.7M | ||
| Q4 24 | $262.1M | $95.8M | ||
| Q3 24 | $231.2M | $199.2M | ||
| Q2 24 | $213.1M | $170.7M |
自由现金流BYDLECO
| Q1 26 | — | — | ||
| Q4 25 | $127.0M | $52.0M | ||
| Q3 25 | $94.4M | $205.1M | ||
| Q2 25 | $80.6M | $118.4M | ||
| Q1 25 | $86.5M | $158.7M | ||
| Q4 24 | $150.9M | $64.3M | ||
| Q3 24 | $146.0M | $163.5M | ||
| Q2 24 | $98.7M | $147.5M |
自由现金流率BYDLECO
| Q1 26 | — | — | ||
| Q4 25 | 12.0% | 4.8% | ||
| Q3 25 | 9.4% | 19.3% | ||
| Q2 25 | 7.8% | 10.9% | ||
| Q1 25 | 8.7% | 15.8% | ||
| Q4 24 | 14.5% | 6.3% | ||
| Q3 24 | 15.2% | 16.6% | ||
| Q2 24 | 10.2% | 14.4% |
资本支出强度BYDLECO
| Q1 26 | — | — | ||
| Q4 25 | 14.0% | 4.0% | ||
| Q3 25 | 14.5% | 3.0% | ||
| Q2 25 | 12.0% | 2.3% | ||
| Q1 25 | 17.1% | 2.7% | ||
| Q4 24 | 10.7% | 3.1% | ||
| Q3 24 | 8.9% | 3.6% | ||
| Q2 24 | 11.8% | 2.3% |
现金转化率BYDLECO
| Q1 26 | — | — | ||
| Q4 25 | 1.96× | 0.70× | ||
| Q3 25 | 0.17× | 1.93× | ||
| Q2 25 | 1.35× | 1.00× | ||
| Q1 25 | 2.30× | 1.57× | ||
| Q4 24 | 1.54× | 0.68× | ||
| Q3 24 | 1.76× | 1.98× | ||
| Q2 24 | 1.52× | 1.68× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
LECO
| Americas Welding | $681.9M | 63% |
| International Welding | $259.4M | 24% |
| Harris Products Group | $137.4M | 13% |
