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Side-by-side financial comparison of BELDEN INC. (BDC) and BILL Holdings, Inc. (BILL). Click either name above to swap in a different company.
BELDEN INC. is the larger business by last-quarter revenue ($696.4M vs $414.7M, roughly 1.7× BILL Holdings, Inc.). BELDEN INC. runs the higher net margin — 7.3% vs -0.6%, a 8.0% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs 11.4%). BILL Holdings, Inc. produced more free cash flow last quarter ($103.8M vs $-63.1M). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs 7.3%).
Belden Inc. is an American, multinational, publicly traded company specializing in the design, manufacture, and distribution of end-to-end networking, security and connectivity products. The company serves the Industrial Automation Solutions, Smart Buildings and Broadband & 5G markets.
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.
BDC vs BILL — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $696.4M | $414.7M |
| Net Profit | $51.0M | $-2.6M |
| Gross Margin | 37.1% | 79.8% |
| Operating Margin | 11.2% | -4.4% |
| Net Margin | 7.3% | -0.6% |
| Revenue YoY | 11.4% | 14.4% |
| Net Profit YoY | -1.8% | -107.7% |
| EPS (diluted) | $1.30 | $-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.
| Q1 26 | $696.4M | — | ||
| Q4 25 | $720.1M | $414.7M | ||
| Q3 25 | $698.2M | $395.7M | ||
| Q2 25 | $672.0M | $383.3M | ||
| Q1 25 | $624.9M | $358.2M | ||
| Q4 24 | $666.0M | $362.6M | ||
| Q3 24 | $654.9M | $358.4M | ||
| Q2 24 | $604.3M | $343.7M |
| Q1 26 | $51.0M | — | ||
| Q4 25 | $67.9M | $-2.6M | ||
| Q3 25 | $56.7M | $-3.0M | ||
| Q2 25 | $61.0M | $-7.1M | ||
| Q1 25 | $51.9M | $-11.6M | ||
| Q4 24 | $58.4M | $33.5M | ||
| Q3 24 | $53.7M | $8.9M | ||
| Q2 24 | $49.0M | $7.6M |
| Q1 26 | 37.1% | — | ||
| Q4 25 | 36.6% | 79.8% | ||
| Q3 25 | 37.7% | 80.5% | ||
| Q2 25 | 38.5% | 80.8% | ||
| Q1 25 | 39.3% | 81.2% | ||
| Q4 24 | 37.5% | 81.6% | ||
| Q3 24 | 37.3% | 82.0% | ||
| Q2 24 | 37.5% | 81.0% |
| Q1 26 | 11.2% | — | ||
| Q4 25 | 12.2% | -4.4% | ||
| Q3 25 | 10.9% | -5.2% | ||
| Q2 25 | 11.8% | -5.8% | ||
| Q1 25 | 11.6% | -8.1% | ||
| Q4 24 | 10.4% | -6.0% | ||
| Q3 24 | 11.5% | -2.1% | ||
| Q2 24 | 11.4% | -6.5% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 9.4% | -0.6% | ||
| Q3 25 | 8.1% | -0.7% | ||
| Q2 25 | 9.1% | -1.8% | ||
| Q1 25 | 8.3% | -3.2% | ||
| Q4 24 | 8.8% | 9.3% | ||
| Q3 24 | 8.2% | 2.5% | ||
| Q2 24 | 8.1% | 2.2% |
| Q1 26 | $1.30 | — | ||
| Q4 25 | $1.70 | $-0.03 | ||
| Q3 25 | $1.41 | $-0.03 | ||
| Q2 25 | $1.53 | $0.02 | ||
| Q1 25 | $1.27 | $-0.11 | ||
| Q4 24 | $1.41 | $-0.06 | ||
| Q3 24 | $1.30 | $0.08 | ||
| Q2 24 | $1.19 | $0.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $272.2M | $1.1B |
| Total DebtLower is stronger | $1.3B | $1.8B |
| Stockholders' EquityBook value | $1.3B | $3.8B |
| Total Assets | — | $10.1B |
| Debt / EquityLower = less leverage | 0.98× | 0.48× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $272.2M | — | ||
| Q4 25 | $389.9M | $1.1B | ||
| Q3 25 | $314.3M | $1.1B | ||
| Q2 25 | $301.5M | $1.0B | ||
| Q1 25 | $259.0M | $1.0B | ||
| Q4 24 | $370.3M | $1.6B | ||
| Q3 24 | $323.0M | $853.5M | ||
| Q2 24 | $564.8M | $985.9M |
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $914.8M | ||
| Q2 24 | — | $914.0M |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $3.8B | ||
| Q3 25 | $1.2B | $3.9B | ||
| Q2 25 | $1.2B | $3.9B | ||
| Q1 25 | $1.2B | $3.9B | ||
| Q4 24 | $1.3B | $3.8B | ||
| Q3 24 | $1.2B | $4.0B | ||
| Q2 24 | $1.2B | $4.1B |
| Q1 26 | — | — | ||
| Q4 25 | $3.5B | $10.1B | ||
| Q3 25 | $3.4B | $10.2B | ||
| Q2 25 | $3.4B | $10.1B | ||
| Q1 25 | $3.3B | $9.6B | ||
| Q4 24 | $3.3B | $9.7B | ||
| Q3 24 | $3.3B | $9.0B | ||
| Q2 24 | $3.5B | $9.2B |
| Q1 26 | 0.98× | — | ||
| Q4 25 | — | 0.48× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.43× | ||
| Q4 24 | — | 0.44× | ||
| Q3 24 | — | 0.23× | ||
| Q2 24 | — | 0.22× |
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 | — | $105.3M |
| Free Cash FlowOCF − Capex | $-63.1M | $103.8M |
| FCF MarginFCF / Revenue | -9.1% | 25.0% |
| Capex IntensityCapex / Revenue | 6.4% | 0.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $180.4M | $378.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $160.4M | $105.3M | ||
| Q3 25 | $105.0M | $96.9M | ||
| Q2 25 | $82.0M | $83.8M | ||
| Q1 25 | $7.4M | $99.5M | ||
| Q4 24 | $174.7M | $78.7M | ||
| Q3 24 | $91.7M | $88.6M | ||
| Q2 24 | $83.0M | $78.6M |
| Q1 26 | $-63.1M | — | ||
| Q4 25 | $121.3M | $103.8M | ||
| Q3 25 | $65.3M | $95.6M | ||
| Q2 25 | $56.9M | $81.0M | ||
| Q1 25 | $-24.8M | $98.4M | ||
| Q4 24 | $116.4M | $78.3M | ||
| Q3 24 | $67.2M | $88.6M | ||
| Q2 24 | $61.0M | $78.4M |
| Q1 26 | -9.1% | — | ||
| Q4 25 | 16.8% | 25.0% | ||
| Q3 25 | 9.4% | 24.1% | ||
| Q2 25 | 8.5% | 21.1% | ||
| Q1 25 | -4.0% | 27.5% | ||
| Q4 24 | 17.5% | 21.6% | ||
| Q3 24 | 10.3% | 24.7% | ||
| Q2 24 | 10.1% | 22.8% |
| Q1 26 | 6.4% | — | ||
| Q4 25 | 5.4% | 0.4% | ||
| Q3 25 | 5.7% | 0.3% | ||
| Q2 25 | 3.7% | 0.7% | ||
| Q1 25 | 5.2% | 0.3% | ||
| Q4 24 | 8.8% | 0.1% | ||
| Q3 24 | 3.7% | 0.0% | ||
| Q2 24 | 3.6% | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 2.36× | — | ||
| Q3 25 | 1.85× | — | ||
| Q2 25 | 1.34× | — | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | 2.99× | 2.35× | ||
| Q3 24 | 1.71× | 9.94× | ||
| Q2 24 | 1.69× | 10.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BDC
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% |
