Are Asset files serialized as Text converted to Binary when built?

In the editor, you can choose your Asset Serialization Mode to be set as Force Text. But are they reserialized to Binary when built? I would assume so because deserializing an asset serialized in Binary would be faster, right? I just wanna make sure…

Yes. Furthermore, they can only be deserialized by a Player version matching the Editor version in which they were serialized.