A Business at a Glance
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Our mission is to make it simple to connect and do business. We are a leading financial operations platform for small and midsize businesses (SMBs). As a champion of SMBs, we are automating the future of finance so businesses can thrive. Our integrated platform helps businesses to more efficiently control their payables, receivables, and spend and expense management. Hundreds of thousands of businesses rely on BILL’s proprietary network of millions of members to pay or get paid faster. Headquartered in San Jose, California, we are a trusted partner of leading U.S. financial institutions, accounting firms, and software providers. BILL's purpose-built, artificial intelligence (AI)-enabled financial software platform creates seamless connections between our customers, their suppliers, and their clients.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.6B | 1.5B | 1.3B | 1.1B | 642M | 238M |
| Net Income | -24M | 24M | -29M | -224M | -326M | -99M |
| EPS | $-0.23 | $-0.07 | $-0.27 | $-2.11 | $-3.21 | $-1.19 |
| Free Cash Flow | 381M | 346M | 278M | 180M | -23M | -14M |
| ROIC | -1.9% | 0.4% | -0.5% | -3.8% | -7.7% | -5.9% |
| Gross Margin | 80.6% | 47.4% | 48.9% | 41.3% | 77.4% | 74.1% |
| Debt/Equity | 0.57 | 0.45 | 0.22 | 0.45 | 0.44 | 0.03 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -90M | -81M | -174M | -296M | -317M | -114M |
| Operating Margin | -5.8% | -5.5% | -13.5% | -27.9% | -49.4% | -47.8% |
| ROE | -0.6% | 0.6% | -0.7% | -5.5% | -9.9% | -6.1% |
| Shares Outstanding | 101M | 102M | 107M | 106M | 102M | 83M |
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | ||
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | 65M | 108M | 158M | 238M | 642M | 1.1B | 1.3B | 1.5B | 1.6B |
| Gross Margin | 70.1% | 72.4% | 75.2% | 74.1% | 77.4% | 41.3% | 48.9% | 47.4% | 80.6% |
| R&D | 18M | 29M | 53M | 90M | 220M | 315M | 337M | 340M | 340M |
| SG&A | 16M | 29M | 53M | 128M | 221M | 249M | 278M | 282M | 300M |
| EBIT | -7.8M | -9.8M | -34M | -114M | -317M | -296M | -174M | -81M | -90M |
| Op. Margin | -12.1% | -9.0% | -21.7% | -47.8% | -49.4% | -27.9% | -13.5% | -5.5% | -5.8% |
| Net Income | -7.2M | -7.3M | -31M | -99M | -326M | -224M | -29M | 24M | -24M |
| Net Margin | -11.1% | -6.8% | -19.7% | -41.4% | -50.8% | -21.1% | -2.2% | 1.6% | -1.6% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 24M | 7K | 7K |
| Returns on Capital | |||||||||
| ROIC | N/A | N/A | -4.4% | -5.9% | -7.7% | -3.8% | -0.5% | 0.4% | -1.9% |
| ROE | 7.2% | N/A | -4.4% | -6.1% | -9.9% | -5.5% | -0.7% | 0.6% | -0.6% |
| ROA | N/A | N/A | -1.3% | -2.4% | -4.3% | -2.4% | -0.3% | 0.2% | -0.2% |
| Cash Flow | |||||||||
| Op. Cash Flow | -8.4M | -3.9M | -4.4M | 4.6M | -18M | 188M | 279M | 351M | 386M |
| Free Cash Flow | -9.7M | -6.7M | -16M | -14M | -23M | 180M | 278M | 346M | 381M |
| Owner Earnings | -12M | -19M | -60M | -120M | -261M | -174M | 7.2M | 81M | 88M |
| CapEx | 1.3M | 2.7M | 11M | 19M | 5.4M | 7.6M | 976K | 4.3M | 4.3M |
| Maint. CapEx | 2.3M | 11M | 37M | 57M | 46M | 48M | 23M | 28M | 53M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 2.3M | 11M | 37M | 57M | 46M | 48M | 23M | 28M | 53M |
| CapEx/OCF | N/A | N/A | N/A | 408.9% | N/A | 4.0% | 0.4% | 1.2% | 1.1% |
| Capital Allocation | |||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 88M | 212M | 430M | 246M |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | 0.7% | 3.8% | 9.3% | 6.6% |
| Stock-Based Comp | 1.5M | 4.1M | 18M | 68M | 197M | 314M | 248M | 243M | 245M |
| Debt Repayment | 0 | 0 | 151K | 0 | 0 | 0 | 933M | 539M | 539M |
| Balance Sheet | |||||||||
| Net Debt | N/A | N/A | N/A | -430M | 177M | 223M | -72M | 710M | -78M |
| Cash & Equiv. | 22M | N/A | 574M | 510M | 1.6B | 1.6B | 986M | 1.0B | 2.2B |
| Long-Term Debt | N/A | N/A | N/A | 80M | 1.8B | 1.8B | 914M | 1.7B | 1.8B |
| Debt/Equity | -0.02 | N/A | 2.38 | 0.03 | 0.44 | 0.45 | 0.22 | 0.45 | 0.57 |
| Interest Coverage | -18.3 | -11.9 | -149.3 | -4.0 | -33.6 | -19.5 | -9.1 | -5.8 | -5.8 |
| Equity | -102M | N/A | 711M | 2.5B | 4.0B | 4.1B | 4.1B | 3.9B | 3.8B |
| Total Assets | N/A | N/A | 2.4B | 6.0B | 9.3B | 9.6B | 9.2B | 10.1B | 10.1B |
| Total Liabilities | 1.6M | N/A | 1.7B | 3.4B | 5.2B | 5.6B | 5.0B | 6.1B | 6.3B |
| Intangibles | N/A | N/A | N/A | 417M | 433M | 361M | 281M | 223M | 192M |
| Retained Earnings | N/A | N/A | -149M | -247M | -545M | -856M | -1.1B | -1.5B | -1.7B |
| Working Capital | N/A | N/A | 703M | 1.3B | 2.9B | 2.9B | 2.3B | 2.7B | 2.9B |
| Current Assets | N/A | N/A | 2.4B | 3.6B | 6.3B | 6.7B | 6.3B | 7.2B | 7.3B |
| Current Liabilities | N/A | N/A | 1.7B | 2.3B | 3.4B | 3.8B | 4.1B | 4.6B | 4.4B |
| Per Share Data | |||||||||
| EPS | -1.01 | -0.94 | -0.70 | -1.19 | -3.21 | -2.11 | -0.27 | -0.07 | -0.23 |
| Owner EPS | -1.71 | -2.51 | -1.34 | -1.45 | -2.57 | -1.64 | 0.07 | 0.79 | 0.87 |
| Book Value | -14.30 | N/A | 16.00 | 30.49 | 39.77 | 38.54 | 38.65 | 38.51 | 37.61 |
| Cash Flow/Share | -1.17 | -0.51 | -0.10 | 0.06 | -0.18 | 1.77 | 2.61 | 3.45 | 0.28 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 7.1M | 7.8M | 44.4M | 83.0M | 101.7M | 106.0M | 107.0M | 101.6M | 101.2M |
| Valuation | |||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -157.7 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | 69.9 | 20.3 | 13.4 | 9.8 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | 12.0 | 6.1 | 2.9 | 3.1 | 1.4 | 1.2 | 1.0 |
| Price/Sales | N/A | N/A | 32.3 | 44.5 | 34.5 | 11.3 | 6.7 | 4.1 | 2.4 |
| FCF Yield | N/A | N/A | -0.2% | -0.1% | -0.2% | 1.4% | 4.9% | 7.5% | 10.2% |
| Market Cap | 0 | N/A | 8.5B | 15.5B | 11.7B | 12.6B | 5.6B | 4.6B | 3.7B |
| Avg. Price | 0.00 | N/A | 53.71 | 127.75 | 217.97 | 113.12 | 80.96 | 59.40 | 37.00 |
| Year-End Price | 0.00 | N/A | 89.74 | 186.60 | 115.54 | 118.72 | 52.62 | 45.57 | 37.00 |
BILL Holdings, Inc. passes 5 of 9 quality checks, suggesting mixed fundamentals.
On a free-cash-flow basis, the stock trades at 9.7x vs a median of 20.3x. The company's 5-year average gross margin is 57.8%. Total shareholder yield (buybacks) is 6.6%. At current prices, the estimated annualized return to fair value is +109.6%.
BILL Holdings, Inc. (BILL) has a 5-year average return on invested capital (ROIC) of -3.5%. This is below average and may indicate limited pricing power.
BILL Holdings, Inc. (BILL) has a market capitalization of $3.7B. It is classified as a mid-cap stock.
BILL Holdings, Inc. (BILL) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 6.56%.
BILL Holdings, Inc. (BILL) operates in the Services-Prepackaged Software industry, within the Technology sector.
BILL Holdings, Inc. (BILL) reported annual revenue of $1.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
BILL Holdings, Inc. (BILL) has a net profit margin of 1.6%. This is a modest margin.
BILL Holdings, Inc. (BILL) generated $346 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
BILL Holdings, Inc. (BILL) has a debt-to-equity ratio of 0.45. This indicates a conservatively financed balance sheet.
BILL Holdings, Inc. (BILL) reported earnings per share (EPS) of $-0.07 in its most recent fiscal year.
BILL Holdings, Inc. (BILL) has a return on equity (ROE) of 0.6%. This indicates moderate shareholder returns.
BILL Holdings, Inc. (BILL) has a 5-year average gross margin of 57.8%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 8 years of financial data for BILL Holdings, Inc. (BILL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
BILL Holdings, Inc. (BILL) has a book value per share of $38.51, based on its most recent annual SEC filing.