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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and Forestar Group Inc. (FOR). Click either name above to swap in a different company.
BILL Holdings, Inc. is the larger business by last-quarter revenue ($414.7M vs $273.0M, roughly 1.5× Forestar Group Inc.). Forestar Group Inc. runs the higher net margin — 5.6% vs -0.6%, a 6.3% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs 9.0%). BILL Holdings, Inc. produced more free cash flow last quarter ($103.8M vs $-157.1M). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs -9.6%).
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.
Forestar Group Inc. is a residential lot development company based in Arlington, Texas. The company has operations in 51 markets in 21 states and delivered 11,518 residential lots during the twelve-month period ended December 31, 2020. The company is publicly traded on the New York Stock Exchange and in October 2017 became a majority-owned subsidiary of D.R. Horton, Inc., the largest homebuilder by volume in the United States since 2002. The company primarily acquires entitled real estate and...
BILL vs FOR — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $273.0M |
| Net Profit | $-2.6M | $15.4M |
| Gross Margin | 79.8% | 20.1% |
| Operating Margin | -4.4% | 7.6% |
| Net Margin | -0.6% | 5.6% |
| Revenue YoY | 14.4% | 9.0% |
| Net Profit YoY | -107.7% | -6.7% |
| EPS (diluted) | $-0.03 | $0.30 |
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 | $273.0M | ||
| Q3 25 | $395.7M | $670.5M | ||
| Q2 25 | $383.3M | $390.5M | ||
| Q1 25 | $358.2M | $351.0M | ||
| Q4 24 | $362.6M | $250.4M | ||
| Q3 24 | $358.4M | $551.3M | ||
| Q2 24 | $343.7M | $318.4M | ||
| Q1 24 | $323.0M | $333.8M |
| Q4 25 | $-2.6M | $15.4M | ||
| Q3 25 | $-3.0M | $86.9M | ||
| Q2 25 | $-7.1M | $32.9M | ||
| Q1 25 | $-11.6M | $31.6M | ||
| Q4 24 | $33.5M | $16.5M | ||
| Q3 24 | $8.9M | $81.5M | ||
| Q2 24 | $7.6M | $38.7M | ||
| Q1 24 | $31.8M | $45.0M |
| Q4 25 | 79.8% | 20.1% | ||
| Q3 25 | 80.5% | 22.3% | ||
| Q2 25 | 80.8% | 20.4% | ||
| Q1 25 | 81.2% | 22.6% | ||
| Q4 24 | 81.6% | 22.0% | ||
| Q3 24 | 82.0% | 23.9% | ||
| Q2 24 | 81.0% | 22.5% | ||
| Q1 24 | 83.0% | 24.9% |
| Q4 25 | -4.4% | 7.6% | ||
| Q3 25 | -5.2% | 16.9% | ||
| Q2 25 | -5.8% | 11.2% | ||
| Q1 25 | -8.1% | 11.6% | ||
| Q4 24 | -6.0% | 8.7% | ||
| Q3 24 | -2.1% | 19.7% | ||
| Q2 24 | -6.5% | 16.2% | ||
| Q1 24 | -8.6% | 17.6% |
| Q4 25 | -0.6% | 5.6% | ||
| Q3 25 | -0.7% | 13.0% | ||
| Q2 25 | -1.8% | 8.4% | ||
| Q1 25 | -3.2% | 9.0% | ||
| Q4 24 | 9.3% | 6.6% | ||
| Q3 24 | 2.5% | 14.8% | ||
| Q2 24 | 2.2% | 12.2% | ||
| Q1 24 | 9.8% | 13.5% |
| Q4 25 | $-0.03 | $0.30 | ||
| Q3 25 | $-0.03 | $1.70 | ||
| Q2 25 | $0.02 | $0.65 | ||
| Q1 25 | $-0.11 | $0.62 | ||
| Q4 24 | $-0.06 | $0.32 | ||
| Q3 24 | $0.08 | $1.59 | ||
| Q2 24 | $0.37 | $0.76 | ||
| Q1 24 | $0.00 | $0.89 |
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 | $211.7M |
| Total DebtLower is stronger | $1.8B | $793.2M |
| Stockholders' EquityBook value | $3.8B | $1.8B |
| Total Assets | $10.1B | $3.2B |
| Debt / EquityLower = less leverage | 0.48× | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $211.7M | ||
| Q3 25 | $1.1B | $379.2M | ||
| Q2 25 | $1.0B | $189.2M | ||
| Q1 25 | $1.0B | $174.3M | ||
| Q4 24 | $1.6B | $132.0M | ||
| Q3 24 | $853.5M | $481.2M | ||
| Q2 24 | $985.9M | $359.2M | ||
| Q1 24 | $952.5M | $416.2M |
| Q4 25 | $1.8B | $793.2M | ||
| Q3 25 | $1.9B | $802.7M | ||
| Q2 25 | $1.7B | $872.8M | ||
| Q1 25 | $1.7B | $872.5M | ||
| Q4 24 | $1.7B | $806.8M | ||
| Q3 24 | $914.8M | $706.4M | ||
| Q2 24 | $914.0M | $706.1M | ||
| Q1 24 | $1.1B | $705.7M |
| Q4 25 | $3.8B | $1.8B | ||
| Q3 25 | $3.9B | $1.8B | ||
| Q2 25 | $3.9B | $1.7B | ||
| Q1 25 | $3.9B | $1.6B | ||
| Q4 24 | $3.8B | $1.6B | ||
| Q3 24 | $4.0B | $1.6B | ||
| Q2 24 | $4.1B | $1.5B | ||
| Q1 24 | $4.1B | $1.5B |
| Q4 25 | $10.1B | $3.2B | ||
| Q3 25 | $10.2B | $3.1B | ||
| Q2 25 | $10.1B | $3.1B | ||
| Q1 25 | $9.6B | $3.0B | ||
| Q4 24 | $9.7B | $3.0B | ||
| Q3 24 | $9.0B | $2.8B | ||
| Q2 24 | $9.2B | $2.7B | ||
| Q1 24 | $9.1B | $2.6B |
| Q4 25 | 0.48× | 0.44× | ||
| Q3 25 | 0.48× | 0.45× | ||
| Q2 25 | 0.44× | 0.52× | ||
| Q1 25 | 0.43× | 0.53× | ||
| Q4 24 | 0.44× | 0.50× | ||
| Q3 24 | 0.23× | 0.44× | ||
| Q2 24 | 0.22× | 0.47× | ||
| Q1 24 | 0.28× | 0.48× |
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 | $-157.0M |
| Free Cash FlowOCF − Capex | $103.8M | $-157.1M |
| FCF MarginFCF / Revenue | 25.0% | -57.5% |
| Capex IntensityCapex / Revenue | 0.4% | 0.0% |
| Cash ConversionOCF / Net Profit | — | -10.19× |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $93.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $-157.0M | ||
| Q3 25 | $96.9M | $256.3M | ||
| Q2 25 | $83.8M | $15.8M | ||
| Q1 25 | $99.5M | $-19.8M | ||
| Q4 24 | $78.7M | $-450.0M | ||
| Q3 24 | $88.6M | $119.2M | ||
| Q2 24 | $78.6M | $-61.7M | ||
| Q1 24 | $66.8M | $-59.2M |
| Q4 25 | $103.8M | $-157.1M | ||
| Q3 25 | $95.6M | $255.6M | ||
| Q2 25 | $81.0M | $15.0M | ||
| Q1 25 | $98.4M | $-20.5M | ||
| Q4 24 | $78.3M | — | ||
| Q3 24 | $88.6M | $118.4M | ||
| Q2 24 | $78.4M | $-62.3M | ||
| Q1 24 | $66.8M | $-59.8M |
| Q4 25 | 25.0% | -57.5% | ||
| Q3 25 | 24.1% | 38.1% | ||
| Q2 25 | 21.1% | 3.8% | ||
| Q1 25 | 27.5% | -5.8% | ||
| Q4 24 | 21.6% | — | ||
| Q3 24 | 24.7% | 21.5% | ||
| Q2 24 | 22.8% | -19.6% | ||
| Q1 24 | 20.7% | -17.9% |
| Q4 25 | 0.4% | 0.0% | ||
| Q3 25 | 0.3% | 0.1% | ||
| Q2 25 | 0.7% | 0.2% | ||
| Q1 25 | 0.3% | 0.2% | ||
| Q4 24 | 0.1% | 0.0% | ||
| Q3 24 | 0.0% | 0.1% | ||
| Q2 24 | 0.1% | 0.2% | ||
| Q1 24 | 0.0% | 0.2% |
| Q4 25 | — | -10.19× | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | — | -0.63× | ||
| Q4 24 | 2.35× | -27.27× | ||
| Q3 24 | 9.94× | 1.46× | ||
| Q2 24 | 10.35× | -1.59× | ||
| Q1 24 | 2.10× | -1.32× |
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% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
