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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and ENCORE CAPITAL GROUP INC (ECPG). Click either name above to swap in a different company.
ENCORE CAPITAL GROUP INC is the larger business by last-quarter revenue ($473.6M vs $414.7M, roughly 1.1× BILL Holdings, Inc.). ENCORE CAPITAL GROUP INC runs the higher net margin — 16.2% vs -0.6%, a 16.8% gap on every dollar of revenue. On growth, ENCORE CAPITAL GROUP INC posted the faster year-over-year revenue change (78.3% vs 14.4%). ENCORE CAPITAL GROUP INC produced more free cash flow last quarter ($126.9M vs $103.8M). Over the past eight quarters, ENCORE CAPITAL GROUP INC's revenue compounded faster (20.1% CAGR vs 13.3%).
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.
Encore Capital Group, Inc. is a publicly traded debt buyer based in the United States. The company is headquartered in San Diego, and operates throughout the United States. The firm is a publicly traded NASDAQ Global Select company (ECPG), a component stock of the Russell 2000, the S&P SmallCap 600, and the Wilshire 4500.
BILL vs ECPG — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $473.6M |
| Net Profit | $-2.6M | $76.7M |
| Gross Margin | 79.8% | — |
| Operating Margin | -4.4% | 36.6% |
| Net Margin | -0.6% | 16.2% |
| Revenue YoY | 14.4% | 78.3% |
| Net Profit YoY | -107.7% | — |
| EPS (diluted) | $-0.03 | $3.32 |
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 | $473.6M | ||
| Q3 25 | $395.7M | $460.4M | ||
| Q2 25 | $383.3M | $442.1M | ||
| Q1 25 | $358.2M | $392.8M | ||
| Q4 24 | $362.6M | $265.6M | ||
| Q3 24 | $358.4M | $367.1M | ||
| Q2 24 | $343.7M | $355.3M | ||
| Q1 24 | $323.0M | $328.4M |
| Q4 25 | $-2.6M | $76.7M | ||
| Q3 25 | $-3.0M | $74.7M | ||
| Q2 25 | $-7.1M | $58.7M | ||
| Q1 25 | $-11.6M | $46.8M | ||
| Q4 24 | $33.5M | — | ||
| Q3 24 | $8.9M | $30.6M | ||
| Q2 24 | $7.6M | $32.2M | ||
| Q1 24 | $31.8M | $23.2M |
| 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% | 36.6% | ||
| Q3 25 | -5.2% | 37.6% | ||
| Q2 25 | -5.8% | 34.1% | ||
| Q1 25 | -8.1% | 32.9% | ||
| Q4 24 | -6.0% | — | ||
| Q3 24 | -2.1% | 28.9% | ||
| Q2 24 | -6.5% | 28.7% | ||
| Q1 24 | -8.6% | 25.5% |
| Q4 25 | -0.6% | 16.2% | ||
| Q3 25 | -0.7% | 16.2% | ||
| Q2 25 | -1.8% | 13.3% | ||
| Q1 25 | -3.2% | 11.9% | ||
| Q4 24 | 9.3% | — | ||
| Q3 24 | 2.5% | 8.3% | ||
| Q2 24 | 2.2% | 9.1% | ||
| Q1 24 | 9.8% | 7.1% |
| Q4 25 | $-0.03 | $3.32 | ||
| Q3 25 | $-0.03 | $3.17 | ||
| Q2 25 | $0.02 | $2.49 | ||
| Q1 25 | $-0.11 | $1.93 | ||
| Q4 24 | $-0.06 | — | ||
| Q3 24 | $0.08 | $1.26 | ||
| Q2 24 | $0.37 | $1.34 | ||
| Q1 24 | $0.00 | $0.95 |
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 | $156.8M |
| Total DebtLower is stronger | $1.8B | $4.0B |
| Stockholders' EquityBook value | $3.8B | $976.8M |
| Total Assets | $10.1B | $5.3B |
| Debt / EquityLower = less leverage | 0.48× | 4.13× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $156.8M | ||
| Q3 25 | $1.1B | $172.5M | ||
| Q2 25 | $1.0B | $172.9M | ||
| Q1 25 | $1.0B | $187.1M | ||
| Q4 24 | $1.6B | $199.9M | ||
| Q3 24 | $853.5M | $247.4M | ||
| Q2 24 | $985.9M | $250.6M | ||
| Q1 24 | $952.5M | $173.0M |
| Q4 25 | $1.8B | $4.0B | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | $3.7B | ||
| Q3 24 | $914.8M | — | ||
| Q2 24 | $914.0M | — | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $3.8B | $976.8M | ||
| Q3 25 | $3.9B | $952.9M | ||
| Q2 25 | $3.9B | $896.0M | ||
| Q1 25 | $3.9B | $819.1M | ||
| Q4 24 | $3.8B | $767.3M | ||
| Q3 24 | $4.0B | $1.0B | ||
| Q2 24 | $4.1B | $988.1M | ||
| Q1 24 | $4.1B | $953.9M |
| Q4 25 | $10.1B | $5.3B | ||
| Q3 25 | $10.2B | $5.3B | ||
| Q2 25 | $10.1B | $5.2B | ||
| Q1 25 | $9.6B | $5.0B | ||
| Q4 24 | $9.7B | $4.8B | ||
| Q3 24 | $9.0B | $5.0B | ||
| Q2 24 | $9.2B | $4.8B | ||
| Q1 24 | $9.1B | $4.7B |
| Q4 25 | 0.48× | 4.13× | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.43× | — | ||
| Q4 24 | 0.44× | 4.83× | ||
| 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 | $153.2M |
| Free Cash FlowOCF − Capex | $103.8M | $126.9M |
| FCF MarginFCF / Revenue | 25.0% | 26.8% |
| Capex IntensityCapex / Revenue | 0.4% | 5.5% |
| Cash ConversionOCF / Net Profit | — | 2.00× |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $244.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $153.2M | ||
| Q3 25 | $96.9M | $81.6M | ||
| Q2 25 | $83.8M | $9.5M | ||
| Q1 25 | $99.5M | $45.3M | ||
| Q4 24 | $78.7M | $156.2M | ||
| Q3 24 | $88.6M | $45.9M | ||
| Q2 24 | $78.6M | $35.7M | ||
| Q1 24 | $66.8M | $51.0M |
| Q4 25 | $103.8M | $126.9M | ||
| Q3 25 | $95.6M | $75.6M | ||
| Q2 25 | $81.0M | $3.2M | ||
| Q1 25 | $98.4M | $38.3M | ||
| Q4 24 | $78.3M | $127.2M | ||
| Q3 24 | $88.6M | $39.7M | ||
| Q2 24 | $78.4M | $28.3M | ||
| Q1 24 | $66.8M | $44.1M |
| Q4 25 | 25.0% | 26.8% | ||
| Q3 25 | 24.1% | 16.4% | ||
| Q2 25 | 21.1% | 0.7% | ||
| Q1 25 | 27.5% | 9.7% | ||
| Q4 24 | 21.6% | 47.9% | ||
| Q3 24 | 24.7% | 10.8% | ||
| Q2 24 | 22.8% | 8.0% | ||
| Q1 24 | 20.7% | 13.4% |
| Q4 25 | 0.4% | 5.5% | ||
| Q3 25 | 0.3% | 1.3% | ||
| Q2 25 | 0.7% | 1.4% | ||
| Q1 25 | 0.3% | 1.8% | ||
| Q4 24 | 0.1% | 10.9% | ||
| Q3 24 | 0.0% | 1.7% | ||
| Q2 24 | 0.1% | 2.1% | ||
| Q1 24 | 0.0% | 2.1% |
| Q4 25 | — | 2.00× | ||
| Q3 25 | — | 1.09× | ||
| Q2 25 | — | 0.16× | ||
| Q1 25 | — | 0.97× | ||
| Q4 24 | 2.35× | — | ||
| Q3 24 | 9.94× | 1.50× | ||
| Q2 24 | 10.35× | 1.11× | ||
| Q1 24 | 2.10× | 2.19× |
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% |
ECPG
Segment breakdown not available.
