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Side-by-side financial comparison of American Homes 4 Rent (AMH) and BILL Holdings, Inc. (BILL). Click either name above to swap in a different company.
American Homes 4 Rent is the larger business by last-quarter revenue ($455.0M vs $414.7M, roughly 1.1× BILL Holdings, Inc.). American Homes 4 Rent runs the higher net margin — 31.7% vs -0.6%, a 32.3% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs 4.2%). American Homes 4 Rent produced more free cash flow last quarter ($823.7M vs $103.8M). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs 3.6%).
American Homes 4 RentAMHEarnings & Financial Report
American Homes 4 Rent, doing business as AMH, is a real estate investment trust based in Las Vegas, Nevada, that invests in single-family rental homes. As of December 31, 2019, the company owned 52,552 homes in 22 states. Its largest concentrations are in Atlanta, Dallas-Fort Worth, and Charlotte, North Carolina.
BILL Holdings, Inc. is an American company based in San Jose, California, that provides automated, cloud-based software for financial operations for small businesses in the United States. A white-labeled, end-to-end payments automation platform, Bill.com Connect is offered to financial institutions as part of their single sign-on online business banking ecosystem.
AMH vs BILL — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $455.0M | $414.7M |
| Net Profit | $144.3M | $-2.6M |
| Gross Margin | — | 79.8% |
| Operating Margin | — | -4.4% |
| Net Margin | 31.7% | -0.6% |
| Revenue YoY | 4.2% | 14.4% |
| Net Profit YoY | 0.3% | -107.7% |
| EPS (diluted) | $0.33 | $-0.03 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $455.0M | $414.7M | ||
| Q3 25 | $478.5M | $395.7M | ||
| Q2 25 | $457.5M | $383.3M | ||
| Q1 25 | $459.3M | $358.2M | ||
| Q4 24 | $436.6M | $362.6M | ||
| Q3 24 | $445.1M | $358.4M | ||
| Q2 24 | $423.5M | $343.7M | ||
| Q1 24 | $423.6M | $323.0M |
| Q4 25 | $144.3M | $-2.6M | ||
| Q3 25 | $116.8M | $-3.0M | ||
| Q2 25 | $123.6M | $-7.1M | ||
| Q1 25 | $128.7M | $-11.6M | ||
| Q4 24 | $143.9M | $33.5M | ||
| Q3 24 | $87.6M | $8.9M | ||
| Q2 24 | $108.5M | $7.6M | ||
| Q1 24 | $128.1M | $31.8M |
| Q4 25 | — | 79.8% | ||
| Q3 25 | — | 80.5% | ||
| Q2 25 | — | 80.8% | ||
| Q1 25 | — | 81.2% | ||
| Q4 24 | — | 81.6% | ||
| Q3 24 | — | 82.0% | ||
| Q2 24 | — | 81.0% | ||
| Q1 24 | — | 83.0% |
| Q4 25 | — | -4.4% | ||
| Q3 25 | — | -5.2% | ||
| Q2 25 | — | -5.8% | ||
| Q1 25 | — | -8.1% | ||
| Q4 24 | — | -6.0% | ||
| Q3 24 | — | -2.1% | ||
| Q2 24 | — | -6.5% | ||
| Q1 24 | — | -8.6% |
| Q4 25 | 31.7% | -0.6% | ||
| Q3 25 | 24.4% | -0.7% | ||
| Q2 25 | 27.0% | -1.8% | ||
| Q1 25 | 28.0% | -3.2% | ||
| Q4 24 | 33.0% | 9.3% | ||
| Q3 24 | 19.7% | 2.5% | ||
| Q2 24 | 25.6% | 2.2% | ||
| Q1 24 | 30.2% | 9.8% |
| Q4 25 | $0.33 | $-0.03 | ||
| Q3 25 | $0.27 | $-0.03 | ||
| Q2 25 | $0.28 | $0.02 | ||
| Q1 25 | $0.30 | $-0.11 | ||
| Q4 24 | $0.33 | $-0.06 | ||
| Q3 24 | $0.20 | $0.08 | ||
| Q2 24 | $0.25 | $0.37 | ||
| Q1 24 | $0.30 | $0.00 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $108.5M | $1.1B |
| Total DebtLower is stronger | $5.1B | $1.8B |
| Stockholders' EquityBook value | $7.0B | $3.8B |
| Total Assets | $13.2B | $10.1B |
| Debt / EquityLower = less leverage | 0.72× | 0.48× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $108.5M | $1.1B | ||
| Q3 25 | $45.6M | $1.1B | ||
| Q2 25 | $323.3M | $1.0B | ||
| Q1 25 | $69.7M | $1.0B | ||
| Q4 24 | $199.4M | $1.6B | ||
| Q3 24 | $162.5M | $853.5M | ||
| Q2 24 | $718.4M | $985.9M | ||
| Q1 24 | $124.8M | $952.5M |
| Q4 25 | $5.1B | $1.8B | ||
| Q3 25 | $4.8B | $1.9B | ||
| Q2 25 | $5.2B | $1.7B | ||
| Q1 25 | $4.9B | $1.7B | ||
| Q4 24 | $5.0B | $1.7B | ||
| Q3 24 | $4.5B | $914.8M | ||
| Q2 24 | $5.0B | $914.0M | ||
| Q1 24 | $4.5B | $1.1B |
| Q4 25 | $7.0B | $3.8B | ||
| Q3 25 | $7.2B | $3.9B | ||
| Q2 25 | $7.2B | $3.9B | ||
| Q1 25 | $7.2B | $3.9B | ||
| Q4 24 | $7.2B | $3.8B | ||
| Q3 24 | $7.0B | $4.0B | ||
| Q2 24 | $7.0B | $4.1B | ||
| Q1 24 | $7.0B | $4.1B |
| Q4 25 | $13.2B | $10.1B | ||
| Q3 25 | $13.3B | $10.2B | ||
| Q2 25 | $13.6B | $10.1B | ||
| Q1 25 | $13.3B | $9.6B | ||
| Q4 24 | $13.4B | $9.7B | ||
| Q3 24 | $12.8B | $9.0B | ||
| Q2 24 | $13.3B | $9.2B | ||
| Q1 24 | $12.8B | $9.1B |
| Q4 25 | 0.72× | 0.48× | ||
| Q3 25 | 0.68× | 0.48× | ||
| Q2 25 | 0.72× | 0.44× | ||
| Q1 25 | 0.69× | 0.43× | ||
| Q4 24 | 0.70× | 0.44× | ||
| Q3 24 | 0.64× | 0.23× | ||
| Q2 24 | 0.71× | 0.22× | ||
| Q1 24 | 0.64× | 0.28× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $864.3M | $105.3M |
| Free Cash FlowOCF − Capex | $823.7M | $103.8M |
| FCF MarginFCF / Revenue | 181.0% | 25.0% |
| Capex IntensityCapex / Revenue | 8.9% | 0.4% |
| Cash ConversionOCF / Net Profit | 5.99× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $378.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $864.3M | $105.3M | ||
| Q3 25 | $223.3M | $96.9M | ||
| Q2 25 | $271.9M | $83.8M | ||
| Q1 25 | $223.4M | $99.5M | ||
| Q4 24 | $811.5M | $78.7M | ||
| Q3 24 | $233.6M | $88.6M | ||
| Q2 24 | $274.0M | $78.6M | ||
| Q1 24 | $201.8M | $66.8M |
| Q4 25 | $823.7M | $103.8M | ||
| Q3 25 | $214.5M | $95.6M | ||
| Q2 25 | $257.7M | $81.0M | ||
| Q1 25 | $215.9M | $98.4M | ||
| Q4 24 | $777.5M | $78.3M | ||
| Q3 24 | $225.3M | $88.6M | ||
| Q2 24 | $263.3M | $78.4M | ||
| Q1 24 | $191.0M | $66.8M |
| Q4 25 | 181.0% | 25.0% | ||
| Q3 25 | 44.8% | 24.1% | ||
| Q2 25 | 56.3% | 21.1% | ||
| Q1 25 | 47.0% | 27.5% | ||
| Q4 24 | 178.1% | 21.6% | ||
| Q3 24 | 50.6% | 24.7% | ||
| Q2 24 | 62.2% | 22.8% | ||
| Q1 24 | 45.1% | 20.7% |
| Q4 25 | 8.9% | 0.4% | ||
| Q3 25 | 1.8% | 0.3% | ||
| Q2 25 | 3.1% | 0.7% | ||
| Q1 25 | 1.6% | 0.3% | ||
| Q4 24 | 7.8% | 0.1% | ||
| Q3 24 | 1.9% | 0.0% | ||
| Q2 24 | 2.5% | 0.1% | ||
| Q1 24 | 2.6% | 0.0% |
| Q4 25 | 5.99× | — | ||
| Q3 25 | 1.91× | — | ||
| Q2 25 | 2.20× | — | ||
| Q1 25 | 1.74× | — | ||
| Q4 24 | 5.64× | 2.35× | ||
| Q3 24 | 2.67× | 9.94× | ||
| Q2 24 | 2.52× | 10.35× | ||
| Q1 24 | 1.58× | 2.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMH
Segment breakdown not available.
BILL
| Accounts Payable And Accounts Receivable Solutions | $185.9M | 45% |
| Spend And Expense Interchange Revenue | $166.5M | 40% |
| Interest On Funds Held For Customers | $39.5M | 10% |
| Embedded And Other Solutions | $22.8M | 5% |
