Bill
BILL · Application Software
$50.70
0.1%Pegasystems
PEGA · Application Software
$36.42
0.6%The short version
- Pegasystems is the larger business, with $1.7B of revenue in fiscal 2025 against $1.7B for Bill.
- Pegasystems grew revenue faster (16.6%, against 13.0%).
- Pegasystems kept more of each dollar of sales as operating profit (15.1% operating margin, against −4.4% operating margin).
- Pegasystems turned more of its sales into free cash flow (28.1% FCF margin, against 25.0% FCF margin).
| Latest fiscal year | BILL · FY26 | PEGA · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.1B | $6.1B |
| Revenue | $1.7B | $1.7B |
| Free cash flow | $413M | $491M |
| Net income | −$11.2M | $393M |
| Growth | ||
| Revenue growth | 13.0% | 16.6% |
| 5-year growth | 47.3% | 11.4% |
| Share count change | −3.8% | 3.1% |
| Profitability | ||
| Gross margin | 80.9% | 75.9% |
| Operating margin | −4.4% | 15.1% |
| Net margin | −0.7% | 22.5% |
| FCF margin | 25.0% | 28.1% |
| Return on capital | −1.7% | — |
| Return on equity | −0.3% | 57.3% |
| Balance sheet | ||
| Net debt | −$101M | −$426M |
| Net debt / EBITDA | — | −1.5x |
| Dividends and buybacks | $561M | $515M |
| Valuation & quality | ||
| P/E | — | 22.6x |
| Piotroski F-score | 4 | 6 |
FY17
BILL —
PEGA $889M
FY18
BILL $64.9M
PEGA $892M
FY19
BILL $108M
PEGA $911M
FY20
BILL $158M
PEGA $1.0B
FY21
BILL $238M
PEGA $1.2B
FY22
BILL $642M
PEGA $1.3B
FY23
BILL $1.1B
PEGA $1.4B
FY24
BILL $1.3B
PEGA $1.5B
FY25
BILL $1.5B
PEGA $1.7B
FY26
BILL $1.7B
PEGA —
BILL
PEGA
FY17
BILL —
PEGA 10.5%
FY18
BILL −12.1%
PEGA −1.9%
FY19
BILL −9.1%
PEGA −14.8%
FY20
BILL −21.7%
PEGA −14.1%
FY21
BILL −47.8%
PEGA −7.8%
FY22
BILL −49.4%
PEGA −8.3%
FY23
BILL −27.9%
PEGA 5.7%
FY24
BILL −13.5%
PEGA 8.3%
FY25
BILL −5.5%
PEGA 15.1%
FY26
BILL −4.4%
PEGA —
BILL
PEGA
FY17
BILL —
PEGA $144M
FY18
BILL −$9.7M
PEGA $92.5M
FY19
BILL −$6.7M
PEGA −$52.8M
FY20
BILL −$15.9M
PEGA −$25.9M
FY21
BILL −$14.3M
PEGA $28.7M
FY22
BILL −$23.5M
PEGA −$13.0M
FY23
BILL $180M
PEGA $201M
FY24
BILL $278M
PEGA $338M
FY25
BILL $346M
PEGA $491M
FY26
BILL $413M
PEGA —
BILL
PEGA
FY17
BILL —
PEGA —
FY18
BILL —
PEGA —
FY19
BILL —
PEGA —
FY20
BILL —
PEGA −21.3%
FY21
BILL —
PEGA −12.1%
FY22
BILL −9.2%
PEGA −16.1%
FY23
BILL −7.3%
PEGA 13.4%
FY24
BILL −4.1%
PEGA —
FY25
BILL −1.8%
PEGA —
FY26
BILL −1.7%
PEGA —
BILL
PEGA
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.