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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and CREDIT ACCEPTANCE CORP (CACC). Click either name above to swap in a different company.
CREDIT ACCEPTANCE CORP is the larger business by last-quarter revenue ($579.9M vs $414.7M, roughly 1.4× BILL Holdings, Inc.). CREDIT ACCEPTANCE CORP runs the higher net margin — 21.0% vs -0.6%, a 21.7% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs 2.5%). CREDIT ACCEPTANCE CORP produced more free cash flow last quarter ($268.9M vs $103.8M). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs 6.8%).
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.
Credit Acceptance Corporation is an auto finance company providing automobile loans and other related financial products. The company operates its financial program through a national network of dealer-partners, the automobile dealers participating in the programs. The company operates two programs: the "Portfolio Program" and the "Purchase Program". Through these programs, the company can advance money to automobile dealers in exchange for the right to service the underlying consumer loans a...
BILL vs CACC — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $579.9M |
| Net Profit | $-2.6M | $122.0M |
| Gross Margin | 79.8% | — |
| Operating Margin | -4.4% | 27.1% |
| Net Margin | -0.6% | 21.0% |
| Revenue YoY | 14.4% | 2.5% |
| Net Profit YoY | -107.7% | -19.7% |
| EPS (diluted) | $-0.03 | $10.87 |
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 | $579.9M | ||
| Q3 25 | $395.7M | $582.4M | ||
| Q2 25 | $383.3M | $583.8M | ||
| Q1 25 | $358.2M | $571.1M | ||
| Q4 24 | $362.6M | $565.9M | ||
| Q3 24 | $358.4M | $550.3M | ||
| Q2 24 | $343.7M | $538.2M | ||
| Q1 24 | $323.0M | $508.0M |
| Q4 25 | $-2.6M | $122.0M | ||
| Q3 25 | $-3.0M | $108.2M | ||
| Q2 25 | $-7.1M | $87.4M | ||
| Q1 25 | $-11.6M | $106.3M | ||
| Q4 24 | $33.5M | $151.9M | ||
| Q3 24 | $8.9M | $78.8M | ||
| Q2 24 | $7.6M | $-47.1M | ||
| Q1 24 | $31.8M | $64.3M |
| 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% | 27.1% | ||
| Q3 25 | -5.2% | 25.6% | ||
| Q2 25 | -5.8% | 20.2% | ||
| Q1 25 | -8.1% | 24.8% | ||
| Q4 24 | -6.0% | 33.9% | ||
| Q3 24 | -2.1% | 19.4% | ||
| Q2 24 | -6.5% | -10.3% | ||
| Q1 24 | -8.6% | 17.0% |
| Q4 25 | -0.6% | 21.0% | ||
| Q3 25 | -0.7% | 18.6% | ||
| Q2 25 | -1.8% | 15.0% | ||
| Q1 25 | -3.2% | 18.6% | ||
| Q4 24 | 9.3% | 26.8% | ||
| Q3 24 | 2.5% | 14.3% | ||
| Q2 24 | 2.2% | -8.8% | ||
| Q1 24 | 9.8% | 12.7% |
| Q4 25 | $-0.03 | $10.87 | ||
| Q3 25 | $-0.03 | $9.43 | ||
| Q2 25 | $0.02 | $7.42 | ||
| Q1 25 | $-0.11 | $8.66 | ||
| Q4 24 | $-0.06 | $12.28 | ||
| Q3 24 | $0.08 | $6.35 | ||
| Q2 24 | $0.37 | $-3.83 | ||
| Q1 24 | $0.00 | $5.08 |
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 | $22.8M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.8B | $1.5B |
| Total Assets | $10.1B | $8.6B |
| Debt / EquityLower = less leverage | 0.48× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $22.8M | ||
| Q3 25 | $1.1B | $15.9M | ||
| Q2 25 | $1.0B | $70.0M | ||
| Q1 25 | $1.0B | $528.8M | ||
| Q4 24 | $1.6B | $343.7M | ||
| Q3 24 | $853.5M | $159.7M | ||
| Q2 24 | $985.9M | $8.3M | ||
| Q1 24 | $952.5M | $8.4M |
| 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 24 | $1.1B | — |
| Q4 25 | $3.8B | $1.5B | ||
| Q3 25 | $3.9B | $1.6B | ||
| Q2 25 | $3.9B | $1.6B | ||
| Q1 25 | $3.9B | $1.7B | ||
| Q4 24 | $3.8B | $1.7B | ||
| Q3 24 | $4.0B | $1.6B | ||
| Q2 24 | $4.1B | $1.6B | ||
| Q1 24 | $4.1B | $1.7B |
| Q4 25 | $10.1B | $8.6B | ||
| Q3 25 | $10.2B | $8.6B | ||
| Q2 25 | $10.1B | $8.7B | ||
| Q1 25 | $9.6B | $9.3B | ||
| Q4 24 | $9.7B | $8.9B | ||
| Q3 24 | $9.0B | $8.7B | ||
| Q2 24 | $9.2B | $8.3B | ||
| Q1 24 | $9.1B | $8.1B |
| 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× | — | ||
| Q1 24 | 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 | $105.3M | $269.3M |
| Free Cash FlowOCF − Capex | $103.8M | $268.9M |
| FCF MarginFCF / Revenue | 25.0% | 46.4% |
| Capex IntensityCapex / Revenue | 0.4% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 2.21× |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $1.1B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $269.3M | ||
| Q3 25 | $96.9M | $299.4M | ||
| Q2 25 | $83.8M | $139.7M | ||
| Q1 25 | $99.5M | $346.2M | ||
| Q4 24 | $78.7M | $306.2M | ||
| Q3 24 | $88.6M | $317.7M | ||
| Q2 24 | $78.6M | $204.0M | ||
| Q1 24 | $66.8M | $310.0M |
| Q4 25 | $103.8M | $268.9M | ||
| Q3 25 | $95.6M | $298.8M | ||
| Q2 25 | $81.0M | $139.4M | ||
| Q1 25 | $98.4M | $345.9M | ||
| Q4 24 | $78.3M | $305.5M | ||
| Q3 24 | $88.6M | $317.3M | ||
| Q2 24 | $78.4M | $203.6M | ||
| Q1 24 | $66.8M | $309.7M |
| Q4 25 | 25.0% | 46.4% | ||
| Q3 25 | 24.1% | 51.3% | ||
| Q2 25 | 21.1% | 23.9% | ||
| Q1 25 | 27.5% | 60.6% | ||
| Q4 24 | 21.6% | 54.0% | ||
| Q3 24 | 24.7% | 57.7% | ||
| Q2 24 | 22.8% | 37.8% | ||
| Q1 24 | 20.7% | 61.0% |
| Q4 25 | 0.4% | 0.1% | ||
| Q3 25 | 0.3% | 0.1% | ||
| Q2 25 | 0.7% | 0.1% | ||
| Q1 25 | 0.3% | 0.1% | ||
| Q4 24 | 0.1% | 0.1% | ||
| Q3 24 | 0.0% | 0.1% | ||
| Q2 24 | 0.1% | 0.1% | ||
| Q1 24 | 0.0% | 0.1% |
| Q4 25 | — | 2.21× | ||
| Q3 25 | — | 2.77× | ||
| Q2 25 | — | 1.60× | ||
| Q1 25 | — | 3.26× | ||
| Q4 24 | 2.35× | 2.02× | ||
| Q3 24 | 9.94× | 4.03× | ||
| Q2 24 | 10.35× | — | ||
| Q1 24 | 2.10× | 4.82× |
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% |
CACC
| Loans Receivable | $553.0M | 95% |
| Other | $26.9M | 5% |
