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Bill

BILL NYSE Application Software Financials FY2018–FY2026

Bill's revenue rose 13.0% to $1.7 billion in fiscal 2026. Its operating margin was −4.4%, up from −5.5% a year earlier. Free cash flow was $412 million, up 19.1%. It paid out $560 million in dividends and buybacks, 136% of free cash flow. The diluted share count fell 3.8%.

Last close · Oct 23, 2026

$50.70

0.1%
Value it Compare
Revenue Total sales reported in the income statement.
$1.7B
13.0% vs prior year
Operating margin Operating income as a share of revenue.
−4.4%
1.1 pts
Net income Profit after all expenses, interest and tax.
−$11.2M
147.1%
Free cash flow Cash from operations minus capital spending.
$413M
19.1%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
−1.7%
0.1 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$5.1B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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About these figures. Bill's filings tag only part of its depreciation and amortization as the total, leaving out its amortization of acquired intangibles (US$61 million in fiscal 2026), so depreciation and amortization, EBITDA and the ratios built on it are left blank.

What Bill does

No business description yet.

Legal name
BILL Holdings, Inc.
Fiscal year ends
June 30, 2026
Latest annual report
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Accession · CIK
0001628280-26-058238
0001786352

Revenue and margins

Bill had $1.7B of revenue in fiscal 2026, up 13.0% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $413M in fiscal 2026, 25.0% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Bill returned $560M to shareholders in fiscal 2026, 136% of free cash flow. The diluted share count fell 3.8%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Bill yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of $101M and divides by 99.9M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

Cash, debt and the ratios that show how comfortably Bill can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $2.7B$2.7B$1.6B$2.2B$1.9B
Debt incl. finance leases $1.8B$1.8B$914M$1.7B$1.8B
Debt / equity 0.4x0.5x0.2x0.4x0.5x
Interest coverage −33.6x−19.5x−9.1x−5.9x−3.9x
Current ratio 1.8x1.8x1.6x1.6x1.5x
Quick ratio 1.8x1.8x1.6x1.6x1.5x
Total assets $9.3B$9.6B$9.2B$10.1B$10.2B
Total liabilities $5.2B$5.6B$5.0B$6.1B$6.7B
Shareholders' equity $4.0B$4.1B$4.1B$3.9B$3.5B
Net debt (− = net cash) −$932M−$821M−$674M−$504M−$101M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$15.9M

4 insiders

Of sales under plans

100%

$15.9M

DateInsiderTradeSharesPriceValueFiling
Sep 3, 2026 Rene A. LacerteCEO, Director Sold plan 42,248 $50.17 $2.1M Form 4
Sep 2, 2026 Rene A. LacerteCEO, Director Sold plan 214,995 $48.42 $10.4M Form 4
Sep 1, 2026 Rohini JainChief Financial Officer Sold plan 33,470 $47.91 $1.6M Form 4
Aug 31, 2026 Michael CieriChief Product Officer Sold plan 10,754 $49.13 $0.5M Form 4
May 29, 2026 Michael CieriChief Product Officer Sold plan 32,875 $36.64 $1.2M Form 4
Dec 2, 2025 Germaine CotaSVP, Finance & Accounting Sold plan 1,104 $51.23 $0.1M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✕ ✓ ✕
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✕ ✕
Current ratio rose ✕ ✓ ✕
Share count didn't rise ✕ ✓ ✓
Gross margin rose ✓ ✕ ✕
Revenue rose relative to assets ✓ ✓ ✓
F-score 6 / 97 / 94 / 9
Accruals ratio −3.3%−3.4%−4.2%
Altman Z'' 1.951.851.45

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Bill BILL $5.1B 13.0% −4.4% 25.0% −1.7% — 4
Samsara IOT $26.5B 29.6% −3.3% 12.8% — — — Compare →
Pegasystems PEGA $6.1B 16.6% 15.1% 28.1% — 22.6x 6 Compare →
Bentley Systems BSY $12.7B 11.0% 24.2% 34.6% 12.3% 43.6x 9 Compare →
Unity Software U $17.9B 2.0% −25.9% 21.8% −10.3% — 5 Compare →

9 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $64.9M $108M $158M $238M $642M $1.1B $1.3B $1.5B $1.7B
Gross profit $45.5M $78.4M $119M $177M $497M $865M $1.1B $1.2B $1.3B
Research and development $18.0M $28.9M $53.0M $89.5M $220M $315M $337M $340M $301M
Operating income −$7.8M −$9.8M −$34.2M −$114M −$317M −$296M −$174M −$80.6M −$73.4M
Interest expense $0.4M $0.8M $0.2M $28.2M $9.4M $15.2M $19.2M $13.8M $19.0M
Pretax income −$7.2M −$7.5M −$31.0M −$139M −$331M −$223M −$26.3M $30.4M −$10.1M
Income tax $0.0M −$0.2M $0.1M −$40.6M −$4.3M $0.8M $2.6M $6.6M $1.1M
Net income −$7.2M −$7.3M −$31.1M −$98.7M −$326M −$224M −$28.9M $23.8M −$11.2M
Diluted EPS −$1.01 −$0.94 −$0.70 −$1.19 −$3.21 −$2.11 −$0.27 −$0.07 −$0.11
Diluted shares 0.01B 0.01B 0.04B 0.08B 0.10B 0.11B 0.11B 0.10B 0.10B
Cash flow
Cash from operations −$8.4M −$3.9M −$4.4M $4.6M −$18.1M $188M $279M $351M $416M
Capital expenditure $1.3M $2.7M $11.4M $18.9M $5.4M $7.6M $1.0M $4.3M $3.3M
Free cash flow −$9.7M −$6.7M −$15.9M −$14.3M −$23.5M $180M $278M $346M $413M
Stock-based compensation $1.5M $4.1M $18.1M $68.3M $197M $314M $248M $243M $230M
Acquisitions $0.0M $0.0M $0.0M $556M $144M $28.9M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $87.6M $212M $430M $561M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $87.6M $212M $430M $560M
Balance sheet
Cash and short-term investments $22.4M $162M $698M $1.2B $2.7B $2.7B $1.6B $2.2B $1.9B
Total debt — — — $989M $1.8B $1.8B $914M $1.7B $1.8B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets — $1.5B $2.4B $3.6B $6.3B $6.7B $6.3B $7.2B $7.4B
Current liabilities — $1.3B $1.7B $2.3B $3.4B $3.8B $4.1B $4.6B $4.9B
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net — $6.6M $13.9M $48.9M $57.0M $81.6M $88.0M $117M $145M
Total assets — $1.5B $2.4B $6.0B $9.3B $9.6B $9.2B $10.1B $10.2B
Total liabilities — $1.4B $1.7B $3.4B $5.2B $5.6B $5.0B $6.1B $6.7B
Shareholders' equity −$102M −$103M $711M $2.5B $4.0B $4.1B $4.1B $3.9B $3.5B
Margins
Gross margin 70.1% 72.4% 75.2% 74.1% 77.4% 81.7% 81.8% 81.4% 80.9%
Operating margin −12.1% −9.1% −21.7% −47.8% −49.4% −27.9% −13.5% −5.5% −4.4%
Net margin −11.1% −6.8% −19.7% −41.4% −50.8% −21.1% −2.2% 1.6% −0.7%
FCF margin −14.9% −6.2% −10.1% −6.0% −3.7% 17.0% 21.5% 23.7% 25.0%
Returns
Return on capital — — — — −9.2% −7.3% −4.1% −1.8% −1.7%
Return on capital employed — — −7.6% −5.2% −6.7% −5.0% −3.2% −1.5% −1.4%
Return on equity — — −10.2% −6.1% −9.9% −5.5% −0.7% 0.6% −0.3%
Return on assets — — −1.6% −2.4% −4.3% −2.4% −0.3% 0.3% −0.1%
Growth
Revenue growth — 67.0% 45.5% 51.2% 169.4% 64.9% 21.9% 13.4% 13.0%
Net income growth — — — — — — — — −147.2%
FCF growth — — — — — — 54.2% 24.7% 19.1%
Share count change — 9.0% 465.7% 87.8% 22.9% 4.2% 0.1% −2.1% −3.8%
Financial health
Debt / equity — — — 0.4x 0.4x 0.5x 0.2x 0.4x 0.5x
Interest coverage −18.3x −11.9x −149.3x −4.1x −33.6x −19.5x −9.1x −5.9x −3.9x
Current ratio — 1.1x 1.4x 1.6x 1.8x 1.8x 1.6x 1.6x 1.5x
Quick ratio — 1.1x 1.4x 1.6x 1.8x 1.8x 1.6x 1.6x 1.5x
Capital allocation
Capex / revenue 2.0% 2.5% 7.3% 7.9% 0.8% 0.7% 0.1% 0.3% 0.2%
Stock comp / revenue 2.4% 3.8% 11.5% 28.7% 30.7% 29.6% 19.3% 16.6% 13.9%
Payouts / FCF — — — — — 48.6% 76.3% 124.2% 135.9%
Quality scores
Piotroski F-score — — — — 5.0 6.0 6.0 7.0 4.0
Altman Z'' — 0.3 2.1 1.9 2.4 2.3 2.0 1.9 1.5
Accruals ratio — — −1.4% −2.5% −4.1% −4.4% −3.3% −3.4% −4.2%

Source: SEC EDGAR XBRL filings (CIK 0001786352). Data updated October 16, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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