Bill
BILL · Application Software
$50.70
0.1%Unity Software
U · Application Software
$40.79
1.3%The short version
- Unity Software is the larger business, with $1.8B of revenue in fiscal 2025 against $1.7B for Bill.
- Bill grew revenue faster (13.0%, against 2.0%).
- Bill kept more of each dollar of sales as operating profit (−4.4% operating margin, against −25.9% operating margin).
- Bill turned more of its sales into free cash flow (25.0% FCF margin, against 21.8% FCF margin).
- Bill earned a higher return on the capital invested in it (−1.7%, against −10.3%).
| Latest fiscal year | BILL · FY26 | U · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.1B | $17.9B |
| Revenue | $1.7B | $1.8B |
| Free cash flow | $413M | $404M |
| Net income | −$11.2M | −$403M |
| Growth | ||
| Revenue growth | 13.0% | 2.0% |
| 5-year growth | 47.3% | 19.1% |
| Share count change | −3.8% | 6.3% |
| Profitability | ||
| Gross margin | 80.9% | 74.2% |
| Operating margin | −4.4% | −25.9% |
| Net margin | −0.7% | −21.8% |
| FCF margin | 25.0% | 21.8% |
| Return on capital | −1.7% | −10.3% |
| Return on equity | −0.3% | −12.5% |
| Balance sheet | ||
| Net debt | −$101M | $180M |
| Net debt / EBITDA | — | — |
| Dividends and buybacks | $561M | $0.0M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 4 | 5 |
FY18
BILL $64.9M
U $381M
FY19
BILL $108M
U $542M
FY20
BILL $158M
U $772M
FY21
BILL $238M
U $1.1B
FY22
BILL $642M
U $1.4B
FY23
BILL $1.1B
U $2.2B
FY24
BILL $1.3B
U $1.8B
FY25
BILL $1.5B
U $1.8B
FY26
BILL $1.7B
U —
BILL
U
FY18
BILL −12.1%
U −34.2%
FY19
BILL −9.1%
U −27.8%
FY20
BILL −21.7%
U −35.6%
FY21
BILL −47.8%
U −47.9%
FY22
BILL −49.4%
U −63.4%
FY23
BILL −27.9%
U −38.1%
FY24
BILL −13.5%
U −41.7%
FY25
BILL −5.5%
U −25.9%
FY26
BILL −4.4%
U —
BILL
U
FY18
BILL −$9.7M
U −$119M
FY19
BILL −$6.7M
U −$95.0M
FY20
BILL −$15.9M
U −$20.2M
FY21
BILL −$14.3M
U −$153M
FY22
BILL −$23.5M
U −$117M
FY23
BILL $180M
U $179M
FY24
BILL $278M
U $286M
FY25
BILL $346M
U $404M
FY26
BILL $413M
U —
BILL
U
FY18
BILL —
U —
FY19
BILL —
U —
FY20
BILL —
U —
FY21
BILL —
U −26.9%
FY22
BILL −9.2%
U −19.9%
FY23
BILL −7.3%
U −14.7%
FY24
BILL −4.1%
U −14.5%
FY25
BILL −1.8%
U −10.3%
FY26
BILL −1.7%
U —
BILL
U
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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.