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BOYD GAMING CORP（BYD）与Travel & Leisure Co.（TNL）财务数据对比。点击上方公司名可切换其他公司
BOYD GAMING CORP的季度营收约是Travel & Leisure Co.的1.0倍（$997.4M vs $961.0M）。BOYD GAMING CORP净利率更高（10.5% vs 8.2%，领先2.2%）。Travel & Leisure Co.同比增速更快（2.9% vs 0.6%）。过去两年BOYD GAMING CORP的营收复合增速更高（1.5% vs -1.2%）
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。
Travel + Leisure Co.是一家总部位于美国佛罗里达州奥兰多的分时度假企业，旗下运营温德姆俱乐部、温德姆WorldMark、玛格丽塔维尔度假俱乐部、雅高度假俱乐部等多个度假所有权品牌，开发、销售并管理分时度假物业，同时主要通过RCI提供分时度假交换服务，还运营Travel + Leisure GO等旅行俱乐部。
BYD vs TNL — 直观对比
营收规模更大
BYD
是对方的1.0倍
$961.0M
营收增速更快
TNL
高出2.3%
0.6%
净利率更高
BYD
高出2.2%
8.2%
两年增速更快
BYD
近两年复合增速
-1.2%
损益表 — Q1 2026 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $997.4M | $961.0M |
| 净利润 | $104.3M | $79.0M |
| 毛利率 | — | — |
| 营业利润率 | 16.4% | 16.5% |
| 净利率 | 10.5% | 8.2% |
| 营收同比 | 0.6% | 2.9% |
| 净利润同比 | -5.9% | 8.2% |
| 每股收益（稀释后） | $1.37 | $1.22 |
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BYDTNL
| Q1 26 | $997.4M | $961.0M | ||
| Q4 25 | $1.1B | $1.0B | ||
| Q3 25 | $1.0B | $1.0B | ||
| Q2 25 | $1.0B | $1.0B | ||
| Q1 25 | $991.6M | $934.0M | ||
| Q4 24 | $1.0B | $970.0M | ||
| Q3 24 | $961.2M | $993.0M | ||
| Q2 24 | $967.5M | $985.0M |
净利润BYDTNL
| Q1 26 | $104.3M | $79.0M | ||
| Q4 25 | $140.4M | $-62.0M | ||
| Q3 25 | $1.4B | $111.0M | ||
| Q2 25 | $151.5M | $108.0M | ||
| Q1 25 | $111.4M | $73.0M | ||
| Q4 24 | $170.5M | $119.0M | ||
| Q3 24 | $131.1M | $97.0M | ||
| Q2 24 | $139.8M | $129.0M |
毛利率BYDTNL
| Q1 26 | — | — | ||
| Q4 25 | — | 78.9% | ||
| Q3 25 | — | 98.8% | ||
| Q2 25 | — | 97.9% | ||
| Q1 25 | — | 97.5% | ||
| Q4 24 | — | 99.0% | ||
| Q3 24 | — | 97.3% | ||
| Q2 24 | — | 97.9% |
营业利润率BYDTNL
| Q1 26 | 16.4% | 16.5% | ||
| Q4 25 | 15.7% | -2.2% | ||
| Q3 25 | 13.9% | 20.5% | ||
| Q2 25 | 23.4% | 20.2% | ||
| Q1 25 | 20.2% | 16.7% | ||
| Q4 24 | 25.1% | 21.1% | ||
| Q3 24 | 22.9% | 19.0% | ||
| Q2 24 | 23.5% | 19.2% |
净利率BYDTNL
| Q1 26 | 10.5% | 8.2% | ||
| Q4 25 | 13.2% | -6.0% | ||
| Q3 25 | 143.4% | 10.6% | ||
| Q2 25 | 14.6% | 10.6% | ||
| Q1 25 | 11.2% | 7.8% | ||
| Q4 24 | 16.4% | 12.3% | ||
| Q3 24 | 13.6% | 9.8% | ||
| Q2 24 | 14.5% | 13.1% |
每股收益（稀释后）BYDTNL
| Q1 26 | $1.37 | $1.22 | ||
| Q4 25 | $1.60 | $-0.92 | ||
| Q3 25 | $17.81 | $1.67 | ||
| Q2 25 | $1.84 | $1.62 | ||
| Q1 25 | $1.31 | $1.07 | ||
| Q4 24 | $1.89 | $1.70 | ||
| Q3 24 | $1.43 | $1.39 | ||
| Q2 24 | $1.47 | $1.81 |
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 | — | $254.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | — |
| 总资产 | — | $6.8B |
| 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BYDTNL
| Q1 26 | — | $254.0M | ||
| Q4 25 | $353.4M | $271.0M | ||
| Q3 25 | $319.1M | $240.0M | ||
| Q2 25 | $320.1M | $212.0M | ||
| Q1 25 | $311.5M | $188.0M | ||
| Q4 24 | $316.7M | $185.0M | ||
| Q3 24 | $286.3M | $194.0M | ||
| Q2 24 | $280.8M | $166.0M |
总债务BYDTNL
| Q1 26 | — | — | ||
| Q4 25 | — | $5.6B | ||
| Q3 25 | — | $5.6B | ||
| Q2 25 | $3.6B | $5.6B | ||
| Q1 25 | $3.5B | $5.7B | ||
| Q4 24 | $3.2B | $5.6B | ||
| Q3 24 | $3.1B | $5.6B | ||
| Q2 24 | $3.0B | $5.6B |
股东权益BYDTNL
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $-981.0M | ||
| Q3 25 | $2.7B | $-821.0M | ||
| Q2 25 | $1.4B | $-852.0M | ||
| Q1 25 | $1.3B | $-903.0M | ||
| Q4 24 | $1.6B | $-881.0M | ||
| Q3 24 | $1.6B | $-862.0M | ||
| Q2 24 | $1.7B | $-885.0M |
总资产BYDTNL
| Q1 26 | — | $6.8B | ||
| Q4 25 | $6.6B | $6.8B | ||
| Q3 25 | $6.5B | $6.9B | ||
| Q2 25 | $6.6B | $6.8B | ||
| Q1 25 | $6.5B | $6.8B | ||
| Q4 24 | $6.4B | $6.7B | ||
| Q3 24 | $6.3B | $6.7B | ||
| Q2 24 | $6.3B | $6.7B |
负债/权益比BYDTNL
| 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 | — | $38.0M |
| 自由现金流经营现金流 - 资本支出 | — | $0 |
| 自由现金流率自由现金流/营收 | — | 0.0% |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | 0.48× |
| 过去12个月自由现金流最近4个季度 | — | $423.0M |
8季度趋势，按日历期对齐
经营现金流BYDTNL
| Q1 26 | — | $38.0M | ||
| Q4 25 | $275.3M | $124.0M | ||
| Q3 25 | $240.0M | $163.0M | ||
| Q2 25 | $205.0M | $232.0M | ||
| Q1 25 | $256.4M | $121.0M | ||
| Q4 24 | $262.1M | $98.0M | ||
| Q3 24 | $231.2M | $145.0M | ||
| Q2 24 | $213.1M | $174.0M |
自由现金流BYDTNL
| Q1 26 | — | $0 | ||
| Q4 25 | $127.0M | $92.0M | ||
| Q3 25 | $94.4M | $136.0M | ||
| Q2 25 | $80.6M | $195.0M | ||
| Q1 25 | $86.5M | $100.0M | ||
| Q4 24 | $150.9M | $75.0M | ||
| Q3 24 | $146.0M | $125.0M | ||
| Q2 24 | $98.7M | $153.0M |
自由现金流率BYDTNL
| Q1 26 | — | 0.0% | ||
| Q4 25 | 12.0% | 9.0% | ||
| Q3 25 | 9.4% | 13.0% | ||
| Q2 25 | 7.8% | 19.2% | ||
| Q1 25 | 8.7% | 10.7% | ||
| Q4 24 | 14.5% | 7.7% | ||
| Q3 24 | 15.2% | 12.6% | ||
| Q2 24 | 10.2% | 15.5% |
资本支出强度BYDTNL
| Q1 26 | — | — | ||
| Q4 25 | 14.0% | 3.1% | ||
| Q3 25 | 14.5% | 2.6% | ||
| Q2 25 | 12.0% | 3.6% | ||
| Q1 25 | 17.1% | 2.2% | ||
| Q4 24 | 10.7% | 2.4% | ||
| Q3 24 | 8.9% | 2.0% | ||
| Q2 24 | 11.8% | 2.1% |
现金转化率BYDTNL
| Q1 26 | — | 0.48× | ||
| Q4 25 | 1.96× | — | ||
| Q3 25 | 0.17× | 1.47× | ||
| Q2 25 | 1.35× | 2.15× | ||
| Q1 25 | 2.30× | 1.66× | ||
| Q4 24 | 1.54× | 0.82× | ||
| Q3 24 | 1.76× | 1.49× | ||
| Q2 24 | 1.52× | 1.35× |
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% |
TNL
| Other | $452.0M | 47% |
| Service and membership fees | $396.0M | 41% |
| Consumer financing | $113.0M | 12% |
