BGSI vs LKQ: How Boyd Group Services and LKQ Corporation sources Compare (2026)

Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: LKQ is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. BGSI and LKQ share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined BGSI and LKQ exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Boyd Group Services Inc. operates roughly 1,312 collision repair centers across North America, trading as Gerber Collision & Glass in the United States, Boyd Autobody & Glass in Canada, and Joe Hudson's Collision Center across the U.S. Southeast after that chain was acquired in January 2026. It also runs auto glass repair and replacement through Glass America and related brands. The company is headquartered in Winnipeg, reports in U.S. dollars, and is dual listed on the Toronto Stock Exchange as BYD and the NYSE as BGSI. The economics are business-to-business in practice: most work arrives through direct repair program relationships with insurance carriers, so the volume driver is how many repairable accident claims get filed, not how many drivers feel like spending.

Full BGSI guide

LKQ Corporation sources, distributes and sells replacement parts, components and systems used to repair and maintain vehicles, spanning recycled and aftermarket collision parts, salvage vehicles, remanufactured engines and mechanical components, and specialty accessories for trucks, RVs and marine. It operates primarily through its Wholesale North America and Europe segments plus a Specialty segment, serving body shops, mechanical repair shops and retail customers, and its scale in salvage and aftermarket sourcing is its core competitive moat.

Full LKQ guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• BGSI drivers: Joe Hudson integration and the consolidation runway; Margin expansion against flat organic volume.
• LKQ drivers: Structural demand for alternative parts; Portfolio simplification and strategic review.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Volume is decided by insurers and accident frequency, and the multi-year decline in repairable claims (driven by advanced driver assistance systems, higher deductibles and drivers choosing not to file) is a structural headwind, not just a cycle. For LKQ, lKQ's revenue is tied to accident frequency, collision-claim volumes and miles driven, all of which have been soft, pressuring organic growth and margins.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick BGSI if you believe its drivers more; LKQ if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the BGSI and LKQ guides.

BGSI. The trailing P/E above 200 is a mechanical artifact of near-zero GAAP earnings, not a valuation signal, which is why the market prices this on EV to adjusted EBITDA (roughly 13x the fiscal 2025 figure, closer to 10x on the annualized Q1 2026 run rate) and on forward earnings near 25x. Note that Boyd's adjusted EBITDA is reported after IFRS 16, so lease costs sit below the line and the figure is not directly comparable to pre-lease-accounting history. Second quarter 2026 results are scheduled for August 12, 2026, before the open.

LKQ. LKQ trades around a low-double-digit trailing earnings multiple, reflecting a mature distributor with soft organic growth and margin pressure rather than a premium grower. Enterprise value sits near $11 billion to $12 billion once roughly $5 billion of net debt is added, and the low multiple plus a sizable dividend are central to the value framing.

Headline figures (approximate, August 2026): BGSI shows revenue (ttm) ~$3.36 billion, up ~9.8%, q1 2026 sales / adjusted ebitda ~$996.7M (+28.1%) / ~$122.4M at ~12.3% margin, fy2025 adjusted ebitda ~$376.3 million (~12.0% margin), adjusted EPS ~$2.78, net earnings (ttm) ~$13.1 million, reported EPS ~$0.66; LKQ shows revenue (ttm) ~$13.6B, market cap ~$6.7B, trailing p/e ~13x, q1 2026 revenue ~$3.47B (up ~4.3% YoY).

BGSI and LKQ are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined BGSI and LKQ exposure against your real portfolio. It is not an investment adviser.