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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and BankUnited, Inc. (BKU). Click either name above to swap in a different company.
BILL Holdings, Inc. is the larger business by last-quarter revenue ($414.7M vs $288.2M, roughly 1.4× BankUnited, Inc.). On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs 9.0%). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs 9.2%).
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.
BankUnited, Inc. is the bank holding company of BankUnited, N.A., a national bank founded in 1984 and headquartered in Miami Lakes, Florida. The company operates in Florida; the regions in and around Atlanta, Georgia; Dallas, Texas; Morristown, New Jersey; Charlotte, North Carolina; and in the New York metropolitan area. BankUnited also offers certain commercial lending and deposit products through national platforms and has total assets of $35.0 billion as of December 31, 2025
BILL vs BKU — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $288.2M |
| Net Profit | $-2.6M | — |
| Gross Margin | 79.8% | — |
| Operating Margin | -4.4% | 31.2% |
| Net Margin | -0.6% | — |
| Revenue YoY | 14.4% | 9.0% |
| Net Profit YoY | -107.7% | — |
| EPS (diluted) | $-0.03 | $0.89 |
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 | $414.7M | $288.2M | ||
| Q3 25 | $395.7M | $275.7M | ||
| Q2 25 | $383.3M | $273.9M | ||
| Q1 25 | $358.2M | $255.4M | ||
| Q4 24 | $362.6M | $264.5M | ||
| Q3 24 | $358.4M | $257.0M | ||
| Q2 24 | $343.7M | $250.2M | ||
| Q1 24 | $323.0M | $241.7M |
| Q4 25 | $-2.6M | — | ||
| Q3 25 | $-3.0M | $71.9M | ||
| Q2 25 | $-7.1M | $68.8M | ||
| Q1 25 | $-11.6M | $58.5M | ||
| Q4 24 | $33.5M | — | ||
| Q3 24 | $8.9M | $61.5M | ||
| Q2 24 | $7.6M | $53.7M | ||
| Q1 24 | $31.8M | $48.0M |
| 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% | 31.2% | ||
| Q3 25 | -5.2% | 35.5% | ||
| Q2 25 | -5.8% | 34.3% | ||
| Q1 25 | -8.1% | 31.4% | ||
| Q4 24 | -6.0% | 35.2% | ||
| Q3 24 | -2.1% | 32.4% | ||
| Q2 24 | -6.5% | 29.2% | ||
| Q1 24 | -8.6% | 27.8% |
| Q4 25 | -0.6% | — | ||
| Q3 25 | -0.7% | 26.1% | ||
| Q2 25 | -1.8% | 25.1% | ||
| Q1 25 | -3.2% | 22.9% | ||
| Q4 24 | 9.3% | — | ||
| Q3 24 | 2.5% | 23.9% | ||
| Q2 24 | 2.2% | 21.5% | ||
| Q1 24 | 9.8% | 19.8% |
| Q4 25 | $-0.03 | $0.89 | ||
| Q3 25 | $-0.03 | $0.95 | ||
| Q2 25 | $0.02 | $0.91 | ||
| Q1 25 | $-0.11 | $0.78 | ||
| Q4 24 | $-0.06 | $0.91 | ||
| Q3 24 | $0.08 | $0.81 | ||
| Q2 24 | $0.37 | $0.72 | ||
| Q1 24 | $0.00 | $0.64 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.1B | $217.8M |
| Total DebtLower is stronger | $1.8B | $319.7M |
| Stockholders' EquityBook value | $3.8B | $3.1B |
| Total Assets | $10.1B | $35.0B |
| Debt / EquityLower = less leverage | 0.48× | 0.10× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $217.8M | ||
| Q3 25 | $1.1B | $559.5M | ||
| Q2 25 | $1.0B | $801.3M | ||
| Q1 25 | $1.0B | $443.7M | ||
| Q4 24 | $1.6B | $491.1M | ||
| Q3 24 | $853.5M | $889.9M | ||
| Q2 24 | $985.9M | $433.5M | ||
| Q1 24 | $952.5M | $421.2M |
| Q4 25 | $1.8B | $319.7M | ||
| Q3 25 | $1.9B | $320.4M | ||
| Q2 25 | $1.7B | $708.9M | ||
| Q1 25 | $1.7B | $709.1M | ||
| Q4 24 | $1.7B | $708.6M | ||
| Q3 24 | $914.8M | $708.7M | ||
| Q2 24 | $914.0M | $708.8M | ||
| Q1 24 | $1.1B | $709.0M |
| Q4 25 | $3.8B | $3.1B | ||
| Q3 25 | $3.9B | $3.0B | ||
| Q2 25 | $3.9B | $3.0B | ||
| Q1 25 | $3.9B | $2.9B | ||
| Q4 24 | $3.8B | $2.8B | ||
| Q3 24 | $4.0B | $2.8B | ||
| Q2 24 | $4.1B | $2.7B | ||
| Q1 24 | $4.1B | $2.6B |
| Q4 25 | $10.1B | $35.0B | ||
| Q3 25 | $10.2B | $35.1B | ||
| Q2 25 | $10.1B | $35.5B | ||
| Q1 25 | $9.6B | $34.8B | ||
| Q4 24 | $9.7B | $35.2B | ||
| Q3 24 | $9.0B | $35.8B | ||
| Q2 24 | $9.2B | $35.4B | ||
| Q1 24 | $9.1B | $35.1B |
| Q4 25 | 0.48× | 0.10× | ||
| Q3 25 | 0.48× | 0.11× | ||
| Q2 25 | 0.44× | 0.24× | ||
| Q1 25 | 0.43× | 0.24× | ||
| Q4 24 | 0.44× | 0.25× | ||
| Q3 24 | 0.23× | 0.25× | ||
| Q2 24 | 0.22× | 0.26× | ||
| Q1 24 | 0.28× | 0.27× |
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 | $358.6M |
| Free Cash FlowOCF − Capex | $103.8M | — |
| FCF MarginFCF / Revenue | 25.0% | — |
| Capex IntensityCapex / Revenue | 0.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $358.6M | ||
| Q3 25 | $96.9M | $99.7M | ||
| Q2 25 | $83.8M | $117.6M | ||
| Q1 25 | $99.5M | $16.4M | ||
| Q4 24 | $78.7M | $433.8M | ||
| Q3 24 | $88.6M | $46.1M | ||
| Q2 24 | $78.6M | $135.7M | ||
| Q1 24 | $66.8M | $66.5M |
| Q4 25 | $103.8M | — | ||
| Q3 25 | $95.6M | — | ||
| Q2 25 | $81.0M | — | ||
| Q1 25 | $98.4M | — | ||
| Q4 24 | $78.3M | — | ||
| Q3 24 | $88.6M | — | ||
| Q2 24 | $78.4M | — | ||
| Q1 24 | $66.8M | — |
| Q4 25 | 25.0% | — | ||
| Q3 25 | 24.1% | — | ||
| Q2 25 | 21.1% | — | ||
| Q1 25 | 27.5% | — | ||
| Q4 24 | 21.6% | — | ||
| Q3 24 | 24.7% | — | ||
| Q2 24 | 22.8% | — | ||
| Q1 24 | 20.7% | — |
| Q4 25 | 0.4% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.1% | — | ||
| Q1 24 | 0.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.39× | ||
| Q2 25 | — | 1.71× | ||
| Q1 25 | — | 0.28× | ||
| Q4 24 | 2.35× | — | ||
| Q3 24 | 9.94× | 0.75× | ||
| Q2 24 | 10.35× | 2.53× | ||
| Q1 24 | 2.10× | 1.39× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
BKU
Segment breakdown not available.
