BILL (BILL) Financials

$34.86 -1.28 (-3.54%)

As of 03:58 PM Eastern

Annual Income Statements for BILL

This table shows BILL's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	-7.20	-7.31	-31	-99	-326	-224	-29	24
Consolidated Net Income / (Loss)	-7.20	-7.31	-31	-99	-326	-224	-29	24
Net Income / (Loss) Continuing Operations	-7.20	-7.31	-31	-99	-326	-224	-29	24
Total Pre-Tax Income	-7.19	-7.47	-31	-139	-331	-223	-26	30
Total Operating Income	-7.82	-9.80	-34	-114	-317	-296	-174	-81
Total Gross Profit	45	78	118	176	497	864	1,056	1,190
Total Revenue	65	108	158	238	642	1,058	1,290	1,463
Operating Revenue	65	108	158	238	642	1,058	1,290	1,463
Total Cost of Revenue	19	30	39	62	145	194	235	272
Operating Cost of Revenue	19	30	39	62	145	194	235	272
Total Operating Expenses	53	88	153	290	814	1,160	1,230	1,271
Selling, General & Admin Expense	16	29	53	128	221	249	278	282
Marketing Expense	19	30	45	68	307	516	479	544
Research & Development Expense	18	29	53	90	220	315	337	340
Depreciation Expense	-	-	1.14	4.87	46	48	49	33
Other Operating Expenses / (Income)	-	-	-	-	20	32	60	73
Restructuring Charge	-	-	-	-	0.00	0.00	28	0.00
Total Other Income / (Expense), net	0.63	2.33	3.16	-25	-14	73	148	111
Other Income / (Expense), net	0.63	2.33	3.16	-25	-14	73	148	111
Income Tax Expense	0.01	-0.16	0.05	-41	-4.32	0.81	2.56	6.61
Basic Earnings per Share	($1.01)	($0.94)	($0.70)	($1.19)	($3.21)	($2.11)	($0.27)	$0.23
Weighted Average Basic Shares Outstanding	7.16M	7.80M	44.11M	82.81M	101.75M	105.98M	106.10M	103.57M
Diluted Earnings per Share	($1.01)	($0.94)	($0.70)	($1.19)	($3.21)	($2.11)	($0.27)	($0.07)
Weighted Average Diluted Shares Outstanding	7.16M	7.80M	44.11M	82.81M	101.75M	105.98M	106.10M	103.91M
Weighted Average Basic & Diluted Shares Outstanding	7.16M	7.80M	44.11M	82.81M	104.84M	106.61M	106.69M	101.63M

This table shows BILL's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2023	9/30/2024	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-16	8.91	-40	32	7.60	8.91	34	-12	-2.96	-2.59	13
Consolidated Net Income / (Loss)	-16	8.91	-40	32	7.60	8.91	34	-12	-2.96	-2.59	13
Net Income / (Loss) Continuing Operations	-16	8.91	-40	32	7.60	8.91	34	-12	-2.96	-2.59	13
Total Pre-Tax Income	-15	10	-39	32	7.60	10	34	-10	-2.81	-2.07	15
Total Operating Income	-41	-7.70	-68	-28	-22	-7.70	-22	-29	-21	-18	-0.40
Total Gross Profit	243	294	260	268	278	294	296	291	319	331	332
Total Revenue	296	358	318	323	344	358	363	358	396	415	407
Operating Revenue	296	358	318	323	344	358	363	358	396	415	407
Total Cost of Revenue	53	65	58	55	65	65	67	67	77	84	75
Operating Cost of Revenue	53	65	58	55	65	65	67	67	77	84	75
Total Operating Expenses	285	301	328	296	301	301	318	320	339	349	332
Selling, General & Admin Expense	41	67	70	64	25	67	71	74	77	79	72
Marketing Expense	117	126	118	118	124	126	133	137	149	155	153
Research & Development Expense	82	79	86	82	80	79	85	87	80	83	74
Depreciation Expense	12	9.01	12	12	12	9.01	7.86	7.86	8.07	8.38	8.48
Other Operating Expenses / (Income)	-	21	16	18	-	21	21	15	16	23	19
Restructuring Charge	-	-	25	2.10	-	0.00	0.00	0.00	8.87	0.41	5.04
Total Other Income / (Expense), net	26	18	29	60	30	18	55	19	18	16	15
Other Income / (Expense), net	26	18	29	60	30	18	55	19	18	16	15
Income Tax Expense	0.74	1.27	1.67	0.37	0.00	1.27	0.05	1.29	0.15	0.52	1.99
Basic Earnings per Share	($0.14)	$0.08	($0.38)	$0.30	$0.07	$0.08	$0.33	($0.11)	($0.03)	($0.03)	$0.13
Weighted Average Basic Shares Outstanding	105.98M	105.67M	105.91M	105.44M	106.10M	105.67M	103.10M	102.22M	101.92M	100.53M	99.29M
Diluted Earnings per Share	($0.14)	$0.08	($0.38)	$0.00	$0.37	$0.08	($0.06)	($0.11)	($0.03)	($0.03)	$0.12
Weighted Average Diluted Shares Outstanding	105.98M	107.32M	105.91M	111.18M	106.10M	107.32M	104.48M	102.22M	101.92M	100.53M	112.68M
Weighted Average Basic & Diluted Shares Outstanding	106.61M	103.50M	105.13M	106.14M	106.69M	-	101.95M	103.03M	100.16M	98.96M	99.60M

This table details how cash moves in and out of BILL's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Net Change in Cash & Equivalents	-100	392	609	217	1,733	682	-873	199
Net Cash From Operating Activities	-8.36	-3.95	-4.43	4.62	-18	188	279	351
Net Cash From Continuing Operating Activities	-8.36	-3.95	-4.43	4.62	-18	188	279	351
Net Income / (Loss) Continuing Operations	-7.20	-7.31	-31	-99	-326	-224	-29	24
Consolidated Net Income / (Loss)	-7.20	-7.31	-31	-99	-326	-224	-29	24
Depreciation Expense	2.31	3.15	3.23	4.44	9.16	11	14	13
Amortization Expense	0.00	-1.32	-2.79	39	95	54	41	44
Non-Cash Adjustments To Reconcile Net Income	1.22	4.21	19	73	225	355	263	262
Changes in Operating Assets and Liabilities, net	-4.70	-2.68	7.44	-13	-20	-8.97	-9.34	7.59
Net Cash From Investing Activities	-418	-96	-249	-1,427	-1,127	259	-409	-817
Net Cash From Continuing Investing Activities	-418	-96	-249	-1,427	-1,127	259	-409	-817
Purchase of Property, Plant & Equipment	-2.05	-4.30	-12	-21	-16	-31	-21	-38
Acquisitions	-	0.00	0.00	-556	-144	-29	0.00	-2.87
Purchase of Investments	-727	-831	-1,089	-2,070	-2,802	-2,750	-3,042	-3,647
Divestitures	-	-	0.00	0.00	6.70	2.08	0.00	0.00
Sale and/or Maturity of Investments	307	749	852	1,247	1,958	3,300	2,840	3,002
Other Investing Activities, net	3.69	-10	-0.96	-26	-131	-233	-186	-132
Net Cash From Financing Activities	326	492	863	1,640	2,879	235	-743	667
Net Cash From Continuing Financing Activities	326	492	863	1,640	2,879	235	-743	667
Repayment of Debt	-3.39	-9.50	0.00	-2.30	-40	0.00	-933	-565
Repurchase of Common Equity	-	-	-	0.00	0.00	-88	-212	-430
Issuance of Debt	9.50	0.00	2.30	1,129	598	60	45	1,400
Issuance of Common Equity	0.00	0.00	534	8.86	1,354	18	16	12
Other Financing Activities, net	264	416	327	504	967	245	341	250
Cash Interest Paid	0.44	0.87	0.17	0.11	4.87	7.44	13	14
Cash Income Taxes Paid	-	-	-	0.00	0.00	1.27	5.63	6.32

This table details how cash moves in and out of BILL's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	243	220	-1,353	16	-156	626	-650	380	-11	129	-308
Net Cash From Operating Activities	54	80	67	79	89	79	100	84	97	105	103
Net Cash From Continuing Operating Activities	54	80	72	73	89	79	100	84	97	105	103
Net Income / (Loss) Continuing Operations	-28	-40	32	7.60	8.91	34	-12	-7.07	-2.96	-2.59	13
Consolidated Net Income / (Loss)	-28	-40	32	7.60	8.91	34	-12	-7.07	-2.96	-2.59	13
Depreciation Expense	3.72	3.24	3.21	3.67	3.17	3.51	3.17	3.16	3.84	7.62	5.30
Amortization Expense	10	13	9.35	7.62	9.54	10	12	13	14	23	19
Non-Cash Adjustments To Reconcile Net Income	79	82	49	53	73	44	74	71	71	82	68
Changes in Operating Assets and Liabilities, net	-12	22	-21	1.04	-5.94	-12	22	4.09	11	-4.94	-2.71
Net Cash From Investing Activities	302	-50	-618	-43	-140	9.84	-644	-44	-109	137	-301
Net Cash From Continuing Investing Activities	302	-50	-618	-43	-140	9.84	-644	-44	-109	137	-301
Purchase of Property, Plant & Equipment	-5.65	-5.12	-3.85	-5.53	-7.06	-7.10	-9.01	-15	-15	-14	-18
Purchase of Investments	-432	-668	-1,301	-641	-820	-772	-1,301	-755	-614	-579	-899
Sale and/or Maturity of Investments	782	593	675	789	736	737	819	710	573	724	717
Other Investing Activities, net	-43	30	12	-186	-48	55	-154	16	-53	5.85	-101
Net Cash From Financing Activities	-112	191	-801	-20	-105	538	-106	340	1.10	-113	-110
Net Cash From Continuing Financing Activities	-112	191	-801	-20	-105	538	-106	340	1.10	-113	-110
Repayment of Debt	-	-	-	-222	-	-	-0.91	-1.72	-	-	-1.13
Repurchase of Common Equity	-12	-200	-	-	-200	-200	-	-30	-83	-133	-57
Other Financing Activities, net	-108	391	-144	202	90	-100	-105	365	-66	50	-52

This table presents BILL's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Total Assets	1,526	2,404	5,969	9,256	9,636	9,179	10,064
Total Current Assets	1,513	2,379	3,606	6,279	6,673	6,315	7,239
Cash & Equivalents	90	574	510	1,597	1,617	986	1,038
Restricted Cash	1,329	1,644	2,209	3,143	3,356	3,705	4,044
Short-Term Investments	72	124	655	1,108	1,043	602	1,180
Accounts Receivable	4.40	4.25	18	24	28	28	32
Prepaid Expenses	12	27	67	151	170	297	258
Other Current Assets	4.80	6.55	147	256	459	697	685
Plant, Property, & Equipment, net	6.56	14	49	57	82	88	117
Total Noncurrent Assets	6.64	11	2,314	2,920	2,881	2,776	2,709
Goodwill	-	0.00	1,772	2,363	2,397	2,397	2,397
Intangible Assets	-	0.00	417	433	361	281	223
Other Noncurrent Operating Assets	6.64	11	125	124	123	98	89
Total Liabilities & Shareholders' Equity	1,526	2,404	5,969	9,256	9,636	9,179	10,064
Total Liabilities	1,353	1,693	3,440	5,212	5,550	5,045	6,150
Total Current Liabilities	1,349	1,677	2,326	3,409	3,753	4,063	4,589
Short-Term Debt	0.00	-	0.00	75	135	0.00	213
Accounts Payable	5.06	3.48	12	9.95	8.52	7.45	16
Accrued Expenses	6.56	11	72	120	195	300	252
Customer Deposits	1,329	1,644	2,209	3,143	3,356	3,705	4,044
Current Deferred Revenue	3.47	5.89	13	32	26	17	22
Current Employee Benefit Liabilities	4.33	12	20	29	33	34	40
Total Noncurrent Liabilities	3.23	16	1,114	1,804	1,797	982	1,561
Long-Term Debt	-	0.00	989	1,698	1,705	914	1,501
Noncurrent Deferred Revenue	1.79	2.62	2.93	2.16	0.41	4.17	0.29
Other Noncurrent Operating Liabilities	1.45	14	122	104	91	63	60
Commitments & Contingencies	0.00	0.00	-	-	-	-	0.00
Total Equity & Noncontrolling Interests	-103	711	2,530	4,044	4,086	4,134	3,914
Total Preferred & Common Equity	-103	711	2,530	4,044	4,086	4,134	3,914
Total Common Equity	-103	711	2,530	4,044	4,086	4,134	3,914
Common Stock	15	857	2,777	4,599	4,947	5,233	5,415
Retained Earnings	-118	-149	-247	-545	-856	-1,097	-1,511
Accumulated Other Comprehensive Income / (Loss)	0.33	2.42	-0.10	-10	-4.49	-1.89	10

This table presents BILL's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2022	12/31/2022	3/31/2023	9/30/2024	12/31/2023	3/31/2024	12/31/2024	3/31/2025	9/30/2025	12/31/2025	3/31/2026
Total Assets	9,253	9,738	9,381	9,045	9,872	9,122	9,674	9,633	10,151	10,126	10,079
Total Current Assets	6,292	6,748	6,405	6,204	6,956	6,228	6,840	6,804	7,330	7,325	7,284
Cash & Equivalents	1,609	1,617	1,591	853	1,580	952	1,566	1,048	1,100	1,095	995
Restricted Cash	3,122	3,474	3,106	3,787	3,655	3,511	3,767	3,657	3,975	4,032	3,999
Short-Term Investments	1,035	1,067	1,073	620	973	837	645	1,125	1,215	1,147	1,179
Accounts Receivable	29	31	34	32	27	30	29	27	32	41	32
Prepaid Expenses	140	179	170	284	205	256	252	241	269	278	260
Other Current Assets	358	381	431	628	517	642	582	706	739	732	819
Plant, Property, & Equipment, net	62	69	77	90	87	87	94	105	129	127	139
Total Noncurrent Assets	2,899	2,921	2,898	2,751	2,830	2,806	2,740	2,724	2,692	2,674	2,657
Goodwill	2,362	2,397	2,397	2,397	2,397	2,397	2,397	2,397	2,397	2,397	2,397
Intangible Assets	413	402	382	265	321	301	253	238	208	192	177
Other Noncurrent Operating Assets	124	122	120	89	112	109	90	89	88	85	83
Total Liabilities & Shareholders' Equity	9,253	9,738	9,381	9,045	9,872	9,122	9,674	9,633	10,151	10,126	10,079
Total Liabilities	5,206	5,654	5,277	5,032	5,921	5,064	5,865	5,762	6,269	6,320	6,276
Total Current Liabilities	3,326	3,731	3,335	4,056	4,118	3,827	4,122	4,018	4,378	4,430	4,386
Short-Term Debt	0.00	0.00	0.00	-	135	0.00	33	33	33	0.00	0.00
Accounts Payable	12	14	9.14	11	8.77	6.82	5.72	9.30	7.00	5.04	7.15
Accrued Expenses	142	182	171	212	268	264	266	263	306	339	326
Customer Deposits	3,122	3,474	3,106	3,787	3,655	3,511	3,767	3,657	3,975	4,032	3,999
Current Deferred Revenue	30	30	28	22	17	18	22	22	21	21	21
Current Employee Benefit Liabilities	21	31	21	23	33	28	29	33	36	33	33
Total Noncurrent Liabilities	1,880	1,923	1,941	976	1,802	1,237	1,743	1,745	1,890	1,889	1,890
Long-Term Debt	1,775	1,814	1,838	915	1,708	1,146	1,678	1,680	1,832	1,834	1,835
Noncurrent Deferred Revenue	2.32	2.01	1.26	0.10	4.17	4.16	0.20	0.25	0.35	0.42	0.38
Other Noncurrent Operating Liabilities	102	107	102	61	90	87	64	65	58	55	55
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	4,048	4,084	4,104	4,013	3,952	4,059	3,809	3,870	3,883	3,807	3,803
Total Preferred & Common Equity	4,048	4,084	4,104	4,013	3,952	4,059	3,809	3,870	3,883	3,807	3,803
Total Common Equity	4,048	4,084	4,104	4,013	3,952	4,059	3,809	3,870	3,883	3,807	3,803
Common Stock	4,684	4,812	4,887	5,294	5,089	5,165	5,267	5,332	5,465	5,524	5,571
Retained Earnings	-626	-722	-780	-1,290	-1,137	-1,105	-1,458	-1,469	-1,595	-1,731	-1,770
Accumulated Other Comprehensive Income / (Loss)	-10	-6.36	-3.18	9.12	0.24	-1.51	-0.24	7.28	13	14	1.99

This table displays calculated financial ratios and metrics derived from BILL's official financial filings.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	67.04%	45.45%	51.18%	169.43%	64.88%	21.89%	13.36%
EBITDA Growth	0.00%	-15.68%	-442.96%	-214.11%	-136.21%	30.63%	117.79%	212.61%
EBIT Growth	0.00%	-3.97%	-315.50%	-348.92%	-137.32%	32.59%	88.19%	215.54%
NOPAT Growth	0.00%	-25.41%	-248.85%	-233.26%	-177.99%	6.64%	41.12%	48.26%
Net Income Growth	0.00%	-1.65%	-325.09%	-217.52%	-230.59%	31.45%	87.09%	182.41%
EPS Growth	0.00%	6.93%	25.53%	-70.00%	-169.75%	34.27%	87.20%	74.07%
Operating Cash Flow Growth	0.00%	52.74%	-12.18%	204.36%	-491.37%	1,137.79%	48.47%	25.78%
Free Cash Flow Firm Growth	0.00%	0.00%	-77.94%	-741.72%	97.55%	-225.01%	121.61%	925.75%
Invested Capital Growth	0.00%	0.00%	-23.77%	108.92%	-121.26%	-192.29%	-170.19%	-159.81%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	17.89%	23.45%	9.95%	3.84%	0.00%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-111.44%	0.69%	26.37%	297.79%	0.00%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-108.94%	-0.66%	23.69%	46.34%	0.00%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-112.99%	-4.15%	12.42%	9.92%	0.00%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-48.77%	-15.21%	23.59%	44.83%	0.00%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-376.00%	-10.69%	24.10%	65.38%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	132.41%	-277.96%	93.70%	-0.62%	1.50%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	97.87%	62.37%	-75.97%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	107.66%	-284.81%	-152.38%	-155.56%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-
Gross Margin	70.13%	72.39%	75.16%	74.06%	77.41%	81.67%	81.82%	81.40%
EBITDA Margin	-7.51%	-5.20%	-19.41%	-40.34%	-35.36%	-14.88%	2.17%	5.99%
Operating Margin	-12.05%	-9.05%	-21.70%	-47.83%	-49.35%	-27.94%	-13.50%	-5.51%
EBIT Margin	-11.08%	-6.89%	-19.69%	-58.48%	-51.51%	-21.06%	-2.04%	2.08%
Profit (Net Income) Margin	-11.09%	-6.75%	-19.73%	-41.43%	-50.84%	-21.14%	-2.24%	1.63%
Tax Burden Percent	100.14%	97.91%	100.17%	70.85%	98.69%	100.36%	109.72%	78.26%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	21.74%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	-387.29%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	-384.05%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	377.36%	0.00%	0.00%	0.00%
Return on Equity (ROE)	0.00%	-4.21%	-7.03%	-6.09%	-9.93%	-5.50%	-0.70%	0.59%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	-1,276.35%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	-0.49%	-1.58%	-3.33%	-4.34%	-2.36%	-0.28%	0.32%
Return on Assets (ROA)	0.00%	-0.48%	-1.58%	-2.36%	-4.29%	-2.37%	-0.31%	0.25%
Return on Common Equity (ROCE)	0.00%	2.49%	-4.83%	-6.09%	-9.93%	-5.50%	-0.70%	0.59%
Return on Equity Simple (ROE_SIMPLE)	0.00%	7.12%	-4.37%	-3.90%	-8.07%	-5.48%	-0.70%	0.00%
Net Operating Profit after Tax (NOPAT)	-5.47	-6.86	-24	-80	-222	-207	-122	-63
NOPAT Margin	-8.44%	-6.33%	-15.19%	-33.48%	-34.55%	-19.56%	-9.45%	-4.31%
Net Nonoperating Expense Percent (NNEP)	0.00%	-0.06%	-0.37%	-0.80%	-3.24%	-0.40%	2.18%	1.95%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-1.12%
Cost of Revenue to Revenue	29.87%	27.61%	24.84%	25.94%	22.59%	18.33%	18.18%	18.60%
SG&A Expenses to Revenue	24.72%	26.95%	33.92%	53.77%	34.43%	23.53%	21.52%	19.28%
R&D to Revenue	27.73%	26.69%	33.63%	37.56%	34.24%	29.73%	26.10%	23.25%
Operating Expenses to Revenue	82.19%	81.44%	96.86%	121.89%	126.76%	109.62%	95.31%	86.91%
Earnings before Interest and Taxes (EBIT)	-7.19	-7.47	-31	-139	-331	-223	-26	30
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-4.87	-5.64	-31	-96	-227	-157	28	88
Valuation Ratios	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	9.21	6.03	2.83	0.00	1.35	1.22
Price to Tangible Book Value (P/TBV)	0.00	0.00	9.21	44.80	9.18	0.00	3.84	3.68
Price to Revenue (P/Rev)	3.33	1.99	41.54	63.97	17.86	0.00	4.33	3.26
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	200.26
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.50%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	88.40	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	26.68	53.96	11.51	0.00	0.94	0.15
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	43.06	2.48
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	7.15
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	2,781.04	0.00	0.00	4.33	0.62
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	14.54	0.00	0.00	0.00	37.83	0.67
Leverage & Solvency	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.39	0.44	0.45	0.22	0.44
Long-Term Debt to Equity	0.00	0.00	0.00	0.39	0.42	0.42	0.22	0.38
Financial Leverage	0.00	-8.59	-4.33	-1.46	-0.98	-1.01	-1.04	-1.11
Leverage Ratio	0.00	8.79	4.44	2.58	2.32	2.32	2.29	2.39
Compound Leverage Factor	0.00	8.79	4.44	2.58	2.32	2.32	2.29	2.39
Debt to Total Capital	0.00%	0.00%	0.00%	28.12%	30.48%	31.05%	18.11%	30.46%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	1.29%	2.28%	0.00%	3.79%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	28.12%	29.19%	28.77%	18.11%	26.67%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	159.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-59.12%	100.00%	71.88%	69.52%	68.95%	81.89%	69.54%
Debt to EBITDA	0.00	0.00	0.00	-10.29	-7.81	-11.68	32.62	19.57
Net Debt to EBITDA	0.00	0.00	0.00	24.81	17.95	26.52	-156.26	-51.93
Long-Term Debt to EBITDA	0.00	0.00	0.00	-10.29	-7.48	-10.83	32.62	17.14
Debt to NOPAT	0.00	0.00	0.00	-12.40	-8.00	-8.89	-7.50	-27.18
Net Debt to NOPAT	0.00	0.00	0.00	29.89	18.37	20.17	35.91	72.11
Long-Term Debt to NOPAT	0.00	0.00	0.00	-12.40	-7.66	-8.23	-7.50	-23.80
Altman Z-Score	0.00	0.17	2.61	2.82	1.56	0.00	0.92	0.73
Noncontrolling Interest Sharing Ratio	0.00%	159.12%	31.24%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-
Current Ratio	0.00	1.12	1.42	1.55	1.84	1.78	1.55	1.58
Quick Ratio	0.00	0.12	0.42	0.51	0.80	0.72	0.40	0.49
Cash Flow Metrics	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	1,311	289	-1,856	-45	-148	32	327
Operating Cash Flow to CapEx	-408.41%	-91.86%	-36.68%	21.80%	-115.71%	601.76%	1,334.28%	920.28%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.07	0.08	0.06	0.08	0.11	0.14	0.15
Accounts Receivable Turnover	0.00	24.64	36.44	21.20	30.38	40.49	45.85	48.44
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	16.52	15.43	7.59	12.13	15.28	15.21	14.29
Accounts Payable Turnover	0.00	5.91	9.17	8.04	13.27	21.01	29.39	22.92
Days Sales Outstanding (DSO)	0.00	14.82	10.02	17.21	12.02	9.01	7.96	7.54
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	61.77	39.82	45.42	27.50	17.37	12.42	15.92
Cash Conversion Cycle (CCC)	0.00	-46.95	-29.80	-28.21	-15.49	-8.36	-4.46	-8.39
Capital & Investment Metrics	-	-	-	-	-	-	-	-
Invested Capital	0.00	-1,318	-1,631	145	-31	-90	-244	-634
Invested Capital Turnover	0.00	-0.16	-0.11	-0.32	11.21	-17.45	-7.71	-3.33
Increase / (Decrease) in Invested Capital	0.00	-1,318	-313	1,777	-176	-59	-154	-390
Enterprise Value (EV)	0.00	-999	4,205	12,857	7,389	0.00	1,207	218
Market Capitalization	216	216	6,547	15,241	11,463	0.00	5,585	4,766
Book Value per Share	$0.00	($13.17)	$9.79	$30.40	$38.78	$38.56	$38.95	$37.99
Tangible Book Value per Share	$0.00	($13.17)	$9.79	$4.09	$11.97	$12.53	$13.72	$12.57
Total Capital	0.00	174	711	3,519	5,817	5,926	5,048	5,629
Total Debt	0.00	0.00	0.00	989	1,773	1,840	914	1,714
Total Long-Term Debt	0.00	0.00	0.00	989	1,698	1,705	914	1,501
Net Debt	0.00	-1,492	-2,342	-2,384	-4,075	-4,176	-4,378	-4,548
Capital Expenditures (CapEx)	2.05	4.30	12	21	16	31	21	38
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-1,328	-1,639	-2,093	-2,902	-2,961	-3,041	-3,399
Debt-free Net Working Capital (DFNWC)	0.00	164	703	1,280	2,946	3,055	2,252	2,864
Net Working Capital (NWC)	0.00	164	703	1,280	2,871	2,920	2,252	2,650
Net Nonoperating Expense (NNE)	1.72	0.45	7.15	19	105	17	-93	-87
Net Nonoperating Obligations (NNO)	0.00	-1,492	-2,342	-2,384	-4,075	-4,176	-4,378	-4,548
Total Depreciation and Amortization (D&A)	2.31	1.84	0.44	43	104	65	54	57
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-1,225.55%	-1,040.14%	-878.50%	-452.03%	-279.78%	-235.67%	-232.42%
Debt-free Net Working Capital to Revenue	0.00%	151.07%	445.81%	537.38%	458.88%	288.60%	174.53%	195.79%
Net Working Capital to Revenue	0.00%	151.07%	445.81%	537.38%	447.18%	275.84%	174.53%	181.20%
Earnings Adjustments	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.01)	($0.94)	($0.70)	($1.19)	$0.00	($2.11)	($0.27)	$0.23
Adjusted Weighted Average Basic Shares Outstanding	7.16M	7.80M	80.18M	94.78M	0.00	105.98M	106.10M	103.57M
Adjusted Diluted Earnings per Share	($1.01)	($0.94)	($0.70)	($1.19)	$0.00	($2.11)	($0.27)	($0.07)
Adjusted Weighted Average Diluted Shares Outstanding	7.16M	7.80M	80.18M	94.78M	0.00	105.98M	106.10M	103.91M
Adjusted Basic & Diluted Earnings per Share	($1.01)	($0.94)	($0.70)	($1.19)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	7.16M	7.80M	44.11M	82.81M	0.00	106.61M	106.69M	101.63M
Normalized Net Operating Profit after Tax (NOPAT)	-5.47	-6.86	-24	-80	-222	-207	-103	-63
Normalized NOPAT Margin	-8.44%	-6.33%	-15.19%	-33.48%	-34.55%	-19.56%	-7.95%	-4.31%
Pre Tax Income Margin	-11.08%	-6.89%	-19.69%	-58.48%	-51.51%	-21.06%	-2.04%	2.08%
Debt Service Ratios	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	-39.16%	-733.78%	1,806.81%

This table displays calculated financial ratios and metrics derived from BILL's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	98,960,440.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	98,960,440.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.13
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	47.83%	32.65%	22.50%	18.52%	16.11%	17.53%	13.83%	10.89%	10.40%	14.38%	13.50%
EBITDA Growth	96.42%	75.20%	71.64%	348.32%	1,002.68%	-5.19%	286.53%	-89.27%	-35.14%	-39.59%	722.71%
EBIT Growth	82.05%	66.56%	59.39%	205.17%	150.19%	0.00%	186.68%	-132.00%	-127.63%	-106.15%	243.50%
NOPAT Growth	50.34%	35.40%	39.83%	28.06%	23.33%	0.00%	54.23%	25.79%	-115.21%	41.64%	98.30%
Net Income Growth	81.32%	65.87%	57.49%	202.15%	147.85%	131.99%	183.00%	-136.43%	-133.24%	-107.71%	210.33%
EPS Growth	82.72%	66.67%	57.78%	100.00%	364.29%	130.77%	84.21%	0.00%	-137.50%	50.00%	209.09%
Operating Cash Flow Growth	867.19%	388.00%	44.27%	96.32%	-2.16%	0.00%	0.00%	48.98%	9.34%	33.79%	3.16%
Free Cash Flow Firm Growth	-74.18%	-29.37%	186.46%	224.27%	331.79%	-188.59%	-79.27%	-45.66%	255.40%	649.99%	120.01%
Invested Capital Growth	-192.29%	-681.26%	-59.00%	-155.37%	-170.19%	0.00%	-10.57%	-158.16%	0.00%	-38.82%	-116.85%
Revenue Q/Q Growth	8.60%	3.04%	4.43%	1.42%	6.39%	4.30%	0.00%	-1.20%	0.00%	4.78%	-1.96%
EBITDA Q/Q Growth	88.39%	-599.52%	-51.85%	301.32%	-57.79%	21.19%	0.00%	-88.42%	0.00%	92.18%	38.43%
EBIT Q/Q Growth	50.54%	-80.66%	-41.76%	183.03%	-76.39%	34.02%	0.00%	-130.65%	0.00%	26.56%	815.15%
NOPAT Q/Q Growth	23.65%	-36.84%	-19.47%	42.36%	18.63%	69.67%	0.00%	6.54%	0.00%	12.76%	97.27%
Net Income Q/Q Growth	49.03%	-75.55%	-45.08%	178.69%	-76.12%	17.34%	0.00%	-134.54%	0.00%	12.63%	594.05%
EPS Q/Q Growth	51.72%	-85.71%	-46.15%	100.00%	0.00%	-78.38%	0.00%	-83.33%	0.00%	0.00%	500.00%
Operating Cash Flow Q/Q Growth	136.12%	10.24%	-10.05%	-16.15%	17.68%	12.67%	0.00%	0.00%	15.56%	8.74%	-2.51%
Free Cash Flow Firm Q/Q Growth	115.73%	1,047.37%	-69.76%	127.71%	-45.35%	-357.55%	0.00%	496.84%	0.00%	-68.78%	75.08%
Invested Capital Q/Q Growth	-152.38%	-267.55%	-24.22%	76.84%	-155.56%	100.00%	0.00%	45.93%	0.00%	-17.03%	15.54%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	82.24%	81.63%	81.67%	82.97%	81.03%	81.95%	81.63%	81.24%	80.54%	79.84%	81.62%
EBITDA Margin	-0.71%	-4.80%	-6.98%	13.85%	5.49%	6.38%	11.43%	1.34%	3.75%	6.88%	9.71%
Operating Margin	-13.99%	-18.57%	-21.25%	-8.55%	-6.47%	-2.15%	-5.99%	-8.08%	-5.24%	-4.36%	-0.10%
EBIT Margin	-5.11%	-8.96%	-12.17%	9.96%	2.21%	2.84%	9.27%	-2.87%	-0.71%	-0.50%	3.63%
Profit (Net Income) Margin	-5.36%	-9.14%	-12.69%	9.85%	2.21%	2.49%	9.25%	-3.24%	-0.75%	-0.62%	3.14%
Tax Burden Percent	104.88%	101.91%	104.30%	98.85%	99.99%	87.54%	99.87%	112.56%	105.30%	125.27%	86.54%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	1.15%	0.01%	12.46%	0.13%	0.00%	0.00%	0.00%	13.46%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	-272.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	-274.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	271.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-5.50%	-4.22%	-1.95%	-1.12%	-0.70%	0.00%	0.00%	0.00%	0.31%	-0.64%	0.00%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-0.57%	-1.11%	-1.55%	1.34%	0.30%	0.00%	0.00%	0.00%	-0.11%	-0.08%	0.59%
Return on Assets (ROA)	-0.60%	-1.13%	-1.61%	1.32%	0.30%	0.00%	0.00%	0.00%	-0.11%	-0.10%	0.51%
Return on Common Equity (ROCE)	-5.50%	-4.22%	-1.95%	-1.12%	-0.70%	0.00%	0.00%	0.00%	0.31%	-0.64%	0.00%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-4.23%	-1.99%	-1.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-29	-40	-47	-27	-22	-6.74	-22	-20	-15	-13	-0.35
NOPAT Margin	-9.79%	-13.00%	-14.87%	-8.45%	-6.47%	-1.88%	-5.98%	-5.66%	-3.66%	-3.05%	-0.08%
Net Nonoperating Expense Percent (NNEP)	0.32%	0.28%	0.16%	1.46%	0.70%	0.00%	1.28%	0.21%	0.52%	0.23%	0.31%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-0.82%	-	-	-	-0.39%	-0.36%	-0.25%	-0.22%	-0.01%
Cost of Revenue to Revenue	17.76%	18.37%	18.33%	17.03%	18.97%	18.05%	18.37%	18.76%	19.46%	20.16%	18.38%
SG&A Expenses to Revenue	13.93%	24.02%	22.00%	25.25%	7.33%	18.63%	19.62%	20.62%	19.44%	19.17%	17.78%
R&D to Revenue	27.65%	29.20%	27.16%	25.26%	23.16%	21.95%	23.39%	24.16%	20.29%	19.97%	18.30%
Operating Expenses to Revenue	96.23%	100.20%	102.92%	91.52%	87.49%	84.10%	87.62%	89.32%	85.78%	84.20%	81.72%
Earnings before Interest and Taxes (EBIT)	-15	-27	-39	32	7.60	10	34	-10	-2.81	-2.07	15
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-2.09	-15	-22	45	19	23	41	4.80	15	29	39
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	2.88	2.20	1.78	1.35	0.00	2.30	1.21	1.39	1.43	1.00
Price to Tangible Book Value (P/TBV)	0.00	8.56	7.06	5.31	3.84	0.00	7.56	3.79	4.21	4.49	3.08
Price to Revenue (P/Rev)	0.00	10.21	6.99	5.81	4.33	4.19	0.00	0.00	3.59	3.52	2.37
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	712.95	0.00	0.00	451.43	0.00	23,110.88
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.14%	0.00%	0.00%	0.22%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	6.38	3.49	2.47	0.94	0.00	0.00	0.00	0.64	0.66	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	435.92	43.06	0.00	0.00	0.00	12.06	16.80	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	55.08	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	32.38	17.54	10.95	4.33	0.00	14.39	1.62	2.67	2.65	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	35.43	130.02	23.13	37.83	0.00	0.00	0.00	2.01	8.96	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.45	0.23	0.47	0.28	0.22	0.00	0.45	0.44	0.48	0.48	0.48
Long-Term Debt to Equity	0.42	0.23	0.43	0.28	0.22	0.00	0.44	0.43	0.47	0.48	0.48
Financial Leverage	-1.01	-1.03	-1.08	-0.99	-1.04	0.00	-1.11	-1.04	-1.14	-1.14	-1.10
Leverage Ratio	2.32	2.27	2.44	2.27	2.29	0.00	2.52	2.37	2.61	2.60	2.57
Compound Leverage Factor	2.32	2.27	2.44	2.27	2.29	0.00	2.52	2.37	2.61	2.60	2.57
Debt to Total Capital	31.05%	18.56%	31.81%	22.02%	18.11%	0.00%	31.01%	30.68%	32.46%	32.51%	32.55%
Short-Term Debt to Total Capital	2.28%	0.00%	2.33%	0.00%	0.00%	0.00%	0.60%	0.60%	0.58%	0.00%	0.00%
Long-Term Debt to Total Capital	28.77%	18.56%	29.48%	22.02%	18.11%	0.00%	30.40%	30.08%	31.87%	32.51%	32.55%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	68.95%	81.44%	68.19%	77.98%	81.89%	0.00%	69.00%	69.32%	67.54%	67.49%	67.45%
Debt to EBITDA	-11.68	-8.18	-101.33	162.73	32.62	0.00	0.00	0.00	23.45	30.13	19.20
Net Debt to EBITDA	26.52	38.85	239.92	-589.76	-156.26	0.00	0.00	0.00	-55.61	-72.96	-45.40
Long-Term Debt to EBITDA	-10.83	-8.18	-93.90	162.73	32.62	0.00	0.00	0.00	23.03	30.13	19.20
Debt to NOPAT	-8.89	-4.94	-15.40	-8.47	-7.50	0.00	0.00	0.00	-29.11	-29.11	-1,243.51
Net Debt to NOPAT	20.17	23.45	36.46	30.70	35.91	0.00	0.00	0.00	69.01	70.49	2,939.68
Long-Term Debt to NOPAT	-8.23	-4.94	-14.27	-8.47	-7.50	0.00	0.00	0.00	-28.58	-29.11	-1,243.51
Altman Z-Score	0.00	1.58	1.18	1.15	0.93	0.00	0.00	0.00	0.79	0.78	0.63
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.78	1.53	1.69	1.63	1.55	0.00	1.66	1.69	1.67	1.65	1.66
Quick Ratio	0.72	0.37	0.63	0.48	0.40	0.00	0.54	0.55	0.54	0.52	0.50
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	30	350	106	241	132	-339	22	131	527	164	288
Operating Cash Flow to CapEx	1,075.27%	1,258.45%	1,557.18%	1,735.75%	1,422.47%	1,255.41%	0.00%	1,105.15%	663.71%	742.51%	572.26%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.11	0.12	0.13	0.13	0.14	0.00	0.00	0.00	0.15	0.16	0.16
Accounts Receivable Turnover	40.49	37.17	43.01	38.85	45.85	0.00	0.00	0.00	46.71	44.30	54.43
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	15.28	14.91	15.97	15.08	15.21	0.00	0.00	0.00	11.63	14.01	13.15
Accounts Payable Turnover	21.01	18.06	19.49	27.80	29.39	0.00	0.00	0.00	40.64	55.98	37.55
Days Sales Outstanding (DSO)	9.01	9.82	8.49	9.39	7.96	0.00	0.00	0.00	7.81	8.24	6.71
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	17.37	20.21	18.73	13.13	12.42	0.00	0.00	0.00	8.98	6.52	9.72
Cash Conversion Cycle (CCC)	-8.36	-10.39	-10.24	-3.73	-4.46	0.00	0.00	0.00	-1.17	1.72	-3.01
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-90	-332	-413	-96	-244	0.00	-456	-247	-541	-633	-535
Invested Capital Turnover	-17.45	-8.24	-3.71	32.27	-7.71	0.00	0.00	0.00	-5.54	-2.85	-4.10
Increase / (Decrease) in Invested Capital	-59	-389	-153	-268	-154	332	-44	-151	-541	-177	-288
Enterprise Value (EV)	0.00	7,229	4,346	3,071	1,207	0.00	4,502	561	959	1,022	-547
Market Capitalization	0.00	11,574	8,710	7,225	5,585	5,629	8,767	4,678	5,383	5,463	3,790
Book Value per Share	$38.56	$37.65	$37.02	$38.61	$38.95	$0.00	$36.81	$37.97	$38.20	$38.01	$38.43
Tangible Book Value per Share	$12.53	$12.68	$11.56	$12.95	$13.72	$0.00	$11.21	$12.12	$12.58	$12.16	$12.42
Total Capital	5,926	4,928	5,795	5,205	5,048	0.00	5,521	5,584	5,748	5,640	5,638
Total Debt	1,840	915	1,843	1,146	914	0.00	1,712	1,713	1,866	1,834	1,835
Total Long-Term Debt	1,705	915	1,708	1,146	914	0.00	1,678	1,680	1,832	1,834	1,835
Net Debt	-4,176	-4,345	-4,364	-4,154	-4,378	0.00	-4,266	-4,117	-4,424	-4,440	-4,338
Capital Expenditures (CapEx)	7.47	7.04	5.12	3.85	5.53	7.06	0.00	9.01	15	14	18
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-2,961	-3,112	-3,235	-2,899	-3,041	0.00	-3,226	-3,011	-3,305	-3,379	-3,274
Debt-free Net Working Capital (DFNWC)	3,055	2,148	2,973	2,402	2,252	0.00	2,751	2,820	2,985	2,895	2,898
Net Working Capital (NWC)	2,920	2,148	2,838	2,402	2,252	0.00	2,718	2,786	2,952	2,895	2,898
Net Nonoperating Expense (NNE)	-13	-12	-6.95	-59	-30	-16	-55	-8.67	-12	-10	-13
Net Nonoperating Obligations (NNO)	-4,176	-4,345	-4,364	-4,154	-4,378	0.00	-4,266	-4,117	-4,424	-4,440	-4,338
Total Depreciation and Amortization (D&A)	13	13	17	13	11	13	7.86	15	18	31	25
Debt-free, Cash-free Net Working Capital to Revenue	-279.78%	-274.52%	-259.72%	-233.29%	-235.67%	0.00%	0.00%	0.00%	-220.33%	-217.69%	-204.61%
Debt-free Net Working Capital to Revenue	288.60%	189.54%	238.69%	193.32%	174.53%	0.00%	0.00%	0.00%	199.02%	186.55%	181.09%
Net Working Capital to Revenue	275.84%	189.54%	227.85%	193.32%	174.53%	0.00%	0.00%	0.00%	196.79%	186.55%	181.09%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.14)	($0.26)	($0.38)	$0.30	$0.07	$0.00	$0.33	($0.11)	($0.03)	($0.03)	$0.13
Adjusted Weighted Average Basic Shares Outstanding	105.98M	106.82M	105.91M	105.44M	106.10M	0.00	103.10M	102.22M	101.92M	100.53M	99.29M
Adjusted Diluted Earnings per Share	($0.14)	($0.26)	($0.38)	$0.00	$0.37	$0.00	($0.06)	($0.11)	($0.03)	($0.03)	$0.12
Adjusted Weighted Average Diluted Shares Outstanding	105.98M	106.82M	105.91M	111.18M	106.10M	0.00	104.48M	102.22M	101.92M	100.53M	112.68M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	106.61M	103.50M	105.13M	106.14M	106.69M	0.00	101.95M	103.03M	100.16M	98.96M	99.60M
Normalized Net Operating Profit after Tax (NOPAT)	-29	-40	-30	-25	-22	-6.74	-22	-20	-8.29	-12	4.02
Normalized NOPAT Margin	-9.79%	-13.00%	-9.36%	-7.81%	-6.47%	-1.88%	-5.98%	-5.66%	-2.10%	-2.98%	0.99%
Pre Tax Income Margin	-5.11%	-8.96%	-12.17%	9.96%	2.21%	2.84%	9.27%	-2.87%	-0.71%	-0.50%	3.63%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-39.16%	-58.65%	-381.46%	-526.36%	-733.78%	2,684.00%	0.00%	0.00%	2,625.95%	-1,015.23%	184,548.17%

Financials Breakdown Chart

Key Financial Trends

Here are the key trends for BILL Holdings, Inc. (NYSE: BILL) based on the last four years of quarterly cash flow, income statement, and balance sheet data. The bullets below are organized with positive items first, then neutral items, and finally negative items.

Revenue growth across the period: Operating revenue has trended higher, rising from roughly $318.5M in Q2 2024 to about $414.7M in Q2 2026 (approximately a 30% increase). This indicates ongoing top-line growth despite fluctuations in quarterly profitability.
Consistent positive cash flow from operations: BILL has posted solid cash generation from operations in the latest periods, with net cash from continuing operating activities around $105.3M in Q2 2026 and about $97.0M in Q3 2025, supporting liquidity even when net income is negative in some quarters.
Healthy gross margins maintained: Gross margins have remained strong, typically around the 80% level (e.g., Q2 2026 gross margin ≈ 80%), suggesting pricing power or favorable cost structure for core offerings.
Stable liquidity in the near term: Total current assets (~$7.3B) exceed total current liabilities (~$4.4B) in the latest quarter, supporting a healthy current ratio and near-term liquidity.
Moderate leverage profile next to equity base: Long-term debt (~$1.83B) versus total equity (~$3.81B) in Q2 2026 implies a debt-to-equity ratio under 0.5, indicating a manageable leverage level relative to equity.
Very large restricted cash balances: Restricted cash has remained substantial across periods (e.g., about $3.6B–$4.0B), which can limit immediate liquidity despite overall cash holdings.
Significant goodwill and intangible assets: Goodwill remains around $2.4B with notable intangible assets, reflecting prior acquisitions and potential impairment risk if operating results falter.
Net income frequently negative: Quarterly net income has been negative in multiple periods (for example, a Q2 2026 net loss of about $2.6M; other quarters show larger losses), signaling ongoing profitability challenges.
Negative operating income in several quarters: Operating income has been negative in several periods (e.g., Q2 2026 about -$18.1M; Q3 2025 about -$28.9M), indicating sustained cost pressures relative to revenue.
Significant cash outflows from investing and financing activities in some quarters: Investing cash flows have been broadly negative in several periods (e.g., Q3 2025 around -$644.1M; Q2 2026 around -$136.6M), and financing activities have shown substantial net outflows in multiple quarters, contributing to fluctuations in cash balances.

05/26/26 09:26 PM ETAI Generated. May Contain Errors.

BILL Financials - Frequently Asked Questions

According to the most recent income statement we have on file, BILL's financial year ends in June. Their financial year 2025 ended on June 30, 2025.

BILL's net income appears to be on an upward trend, with a most recent value of $23.80 million in 2025, falling from -$7.20 million in 2018. The previous period was -$28.88 million in 2024. See BILL's forecast for analyst expectations on what's next for the company.

BILL's total operating income in 2025 was -$80.60 million, based on the following breakdown:

Total Gross Profit: $1.19 billion
Total Operating Expenses: $1.27 billion

Over the last 7 years, BILL's total revenue changed from $64.87 million in 2018 to $1.46 billion in 2025, a change of 2,154.8%.

BILL's total liabilities were at $6.15 billion at the end of 2025, a 21.9% increase from 2024, and a 354.7% increase since 2019.

In the past 6 years, BILL's cash and equivalents has ranged from $90.31 million in 2019 to $1.62 billion in 2023, and is currently $1.04 billion as of their latest financial filing in 2025.

Over the last 7 years, BILL's book value per share changed from 0.00 in 2018 to 37.99 in 2025, a change of 3,799.0%.

Related Companies

Financial statements for NYSE:BILL last updated on 5/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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BILL (BILL) Financials

Financials Breakdown Chart

Key Financial Trends

BILL Financials - Frequently Asked Questions

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BILL (BILL) Financials

Annual Income Statements for BILL

Quarterly Income Statements for BILL

Annual Cash Flow Statements for BILL

Quarterly Cash Flow Statements for BILL

Annual Balance Sheets for BILL

Quarterly Balance Sheets for BILL

Annual Metrics And Ratios for BILL

Quarterly Metrics And Ratios for BILL

Financials Breakdown Chart

Key Financial Trends

BILL Financials - Frequently Asked Questions

When does BILL's fiscal year end?

How has BILL's net income changed over the last 7 years?

What is BILL's operating income?

How has BILL's revenue changed over the last 7 years?

How much debt does BILL have?

How much cash does BILL have?

How has BILL's book value per share changed over the last 7 years?

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