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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and FIRST INTERSTATE BANCSYSTEM INC (FIBK). Click either name above to swap in a different company.
BILL Holdings, Inc. is the larger business by last-quarter revenue ($414.7M vs $313.0M, roughly 1.3× FIRST INTERSTATE BANCSYSTEM INC). FIRST INTERSTATE BANCSYSTEM INC runs the higher net margin — 34.8% vs -0.6%, a 35.4% gap on every dollar of revenue. On growth, FIRST INTERSTATE BANCSYSTEM INC posted the faster year-over-year revenue change (19.8% vs 14.4%). Over the past eight quarters, FIRST INTERSTATE BANCSYSTEM INC's revenue compounded faster (13.7% 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.
First Interstate BancSystem, Inc. is a financial holding company headquartered in Billings, Montana. It is the parent company of First Interstate Bank, a community bank with locations throughout 14 states within the Western and Midwestern United States. It is the largest bank based in Montana, as measured by total assets.
BILL vs FIBK — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $313.0M |
| Net Profit | $-2.6M | $108.8M |
| Gross Margin | 79.8% | — |
| Operating Margin | -4.4% | 44.5% |
| Net Margin | -0.6% | 34.8% |
| Revenue YoY | 14.4% | 19.8% |
| Net Profit YoY | -107.7% | 108.8% |
| EPS (diluted) | $-0.03 | $1.07 |
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 | $313.0M | ||
| Q3 25 | $395.7M | $250.5M | ||
| Q2 25 | $383.3M | $248.3M | ||
| Q1 25 | $358.2M | $247.0M | ||
| Q4 24 | $362.6M | $261.3M | ||
| Q3 24 | $358.4M | $251.9M | ||
| Q2 24 | $343.7M | $244.3M | ||
| Q1 24 | $323.0M | $242.2M |
| Q4 25 | $-2.6M | $108.8M | ||
| Q3 25 | $-3.0M | $71.4M | ||
| Q2 25 | $-7.1M | $71.7M | ||
| Q1 25 | $-11.6M | $50.2M | ||
| Q4 24 | $33.5M | $52.1M | ||
| Q3 24 | $8.9M | $55.5M | ||
| Q2 24 | $7.6M | $60.0M | ||
| Q1 24 | $31.8M | $58.4M |
| 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% | 44.5% | ||
| Q3 25 | -5.2% | 37.0% | ||
| Q2 25 | -5.8% | 37.7% | ||
| Q1 25 | -8.1% | 26.9% | ||
| Q4 24 | -6.0% | 25.5% | ||
| Q3 24 | -2.1% | 28.9% | ||
| Q2 24 | -6.5% | 32.1% | ||
| Q1 24 | -8.6% | 31.7% |
| Q4 25 | -0.6% | 34.8% | ||
| Q3 25 | -0.7% | 28.5% | ||
| Q2 25 | -1.8% | 28.9% | ||
| Q1 25 | -3.2% | 20.3% | ||
| Q4 24 | 9.3% | 19.9% | ||
| Q3 24 | 2.5% | 22.0% | ||
| Q2 24 | 2.2% | 24.6% | ||
| Q1 24 | 9.8% | 24.1% |
| Q4 25 | $-0.03 | $1.07 | ||
| Q3 25 | $-0.03 | $0.69 | ||
| Q2 25 | $0.02 | $0.69 | ||
| Q1 25 | $-0.11 | $0.49 | ||
| Q4 24 | $-0.06 | $0.50 | ||
| Q3 24 | $0.08 | $0.54 | ||
| Q2 24 | $0.37 | $0.58 | ||
| Q1 24 | $0.00 | $0.57 |
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 | — |
| Total DebtLower is stronger | $1.8B | $146.3M |
| Stockholders' EquityBook value | $3.8B | $3.4B |
| Total Assets | $10.1B | $26.6B |
| Debt / EquityLower = less leverage | 0.48× | 0.04× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $853.5M | — | ||
| Q2 24 | $985.9M | — | ||
| Q1 24 | $952.5M | — |
| Q4 25 | $1.8B | $146.3M | ||
| Q3 25 | $1.9B | $146.2M | ||
| Q2 25 | $1.7B | $252.0M | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | $132.2M | ||
| Q3 24 | $914.8M | $137.3M | ||
| Q2 24 | $914.0M | $383.4M | ||
| Q1 24 | $1.1B | $370.8M |
| Q4 25 | $3.8B | $3.4B | ||
| Q3 25 | $3.9B | $3.4B | ||
| Q2 25 | $3.9B | $3.4B | ||
| Q1 25 | $3.9B | $3.4B | ||
| Q4 24 | $3.8B | $3.3B | ||
| Q3 24 | $4.0B | $3.4B | ||
| Q2 24 | $4.1B | $3.2B | ||
| Q1 24 | $4.1B | $3.2B |
| Q4 25 | $10.1B | $26.6B | ||
| Q3 25 | $10.2B | $27.3B | ||
| Q2 25 | $10.1B | $27.6B | ||
| Q1 25 | $9.6B | $28.3B | ||
| Q4 24 | $9.7B | $29.1B | ||
| Q3 24 | $9.0B | $29.6B | ||
| Q2 24 | $9.2B | $30.3B | ||
| Q1 24 | $9.1B | $30.1B |
| Q4 25 | 0.48× | 0.04× | ||
| Q3 25 | 0.48× | 0.04× | ||
| Q2 25 | 0.44× | 0.07× | ||
| Q1 25 | 0.43× | — | ||
| Q4 24 | 0.44× | 0.04× | ||
| Q3 24 | 0.23× | 0.04× | ||
| Q2 24 | 0.22× | 0.12× | ||
| Q1 24 | 0.28× | 0.12× |
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 | $305.6M |
| Free Cash FlowOCF − Capex | $103.8M | — |
| FCF MarginFCF / Revenue | 25.0% | — |
| Capex IntensityCapex / Revenue | 0.4% | — |
| Cash ConversionOCF / Net Profit | — | 2.81× |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $305.6M | ||
| Q3 25 | $96.9M | $91.7M | ||
| Q2 25 | $83.8M | $68.1M | ||
| Q1 25 | $99.5M | $78.5M | ||
| Q4 24 | $78.7M | $355.0M | ||
| Q3 24 | $88.6M | $89.9M | ||
| Q2 24 | $78.6M | $82.3M | ||
| Q1 24 | $66.8M | $87.6M |
| 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 | — | 2.81× | ||
| Q3 25 | — | 1.28× | ||
| Q2 25 | — | 0.95× | ||
| Q1 25 | — | 1.56× | ||
| Q4 24 | 2.35× | 6.81× | ||
| Q3 24 | 9.94× | 1.62× | ||
| Q2 24 | 10.35× | 1.37× | ||
| Q1 24 | 2.10× | 1.50× |
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% |
FIBK
Segment breakdown not available.
