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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and GRACO INC (GGG). Click either name above to swap in a different company.
GRACO INC is the larger business by last-quarter revenue ($593.2M vs $414.7M, roughly 1.4× BILL Holdings, Inc.). GRACO INC runs the higher net margin — 22.3% vs -0.6%, a 23.0% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs 8.1%). GRACO INC produced more free cash flow last quarter ($184.3M vs $103.8M). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs 9.8%).
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.
Graco Inc. is an American industrial company that specializes in the development and manufacturing of fluid-handling systems and products. The company is headquartered in Minneapolis, Minnesota, and markets its products to customers worldwide.
BILL vs GGG — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $593.2M |
| Net Profit | $-2.6M | $132.5M |
| Gross Margin | 79.8% | 51.7% |
| Operating Margin | -4.4% | 26.7% |
| Net Margin | -0.6% | 22.3% |
| Revenue YoY | 14.4% | 8.1% |
| Net Profit YoY | -107.7% | 21.9% |
| EPS (diluted) | $-0.03 | $0.78 |
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 | $593.2M | ||
| Q3 25 | $395.7M | $543.4M | ||
| Q2 25 | $383.3M | $571.8M | ||
| Q1 25 | $358.2M | $528.3M | ||
| Q4 24 | $362.6M | $548.7M | ||
| Q3 24 | $358.4M | $519.2M | ||
| Q2 24 | $343.7M | $553.2M | ||
| Q1 24 | $323.0M | $492.2M |
| Q4 25 | $-2.6M | $132.5M | ||
| Q3 25 | $-3.0M | $137.6M | ||
| Q2 25 | $-7.1M | $127.6M | ||
| Q1 25 | $-11.6M | $124.1M | ||
| Q4 24 | $33.5M | $108.7M | ||
| Q3 24 | $8.9M | $122.2M | ||
| Q2 24 | $7.6M | $133.0M | ||
| Q1 24 | $31.8M | $122.2M |
| Q4 25 | 79.8% | 51.7% | ||
| Q3 25 | 80.5% | 53.2% | ||
| Q2 25 | 80.8% | 52.4% | ||
| Q1 25 | 81.2% | 52.6% | ||
| Q4 24 | 81.6% | 50.9% | ||
| Q3 24 | 82.0% | 53.2% | ||
| Q2 24 | 81.0% | 54.4% | ||
| Q1 24 | 83.0% | 54.1% |
| Q4 25 | -4.4% | 26.7% | ||
| Q3 25 | -5.2% | 30.3% | ||
| Q2 25 | -5.8% | 27.5% | ||
| Q1 25 | -8.1% | 27.3% | ||
| Q4 24 | -6.0% | 23.7% | ||
| Q3 24 | -2.1% | 28.1% | ||
| Q2 24 | -6.5% | 29.2% | ||
| Q1 24 | -8.6% | 27.0% |
| Q4 25 | -0.6% | 22.3% | ||
| Q3 25 | -0.7% | 25.3% | ||
| Q2 25 | -1.8% | 22.3% | ||
| Q1 25 | -3.2% | 23.5% | ||
| Q4 24 | 9.3% | 19.8% | ||
| Q3 24 | 2.5% | 23.5% | ||
| Q2 24 | 2.2% | 24.0% | ||
| Q1 24 | 9.8% | 24.8% |
| Q4 25 | $-0.03 | $0.78 | ||
| Q3 25 | $-0.03 | $0.82 | ||
| Q2 25 | $0.02 | $0.76 | ||
| Q1 25 | $-0.11 | $0.72 | ||
| Q4 24 | $-0.06 | $0.63 | ||
| Q3 24 | $0.08 | $0.71 | ||
| Q2 24 | $0.37 | $0.77 | ||
| Q1 24 | $0.00 | $0.71 |
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 | $624.1M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.8B | $2.7B |
| Total Assets | $10.1B | $3.3B |
| Debt / EquityLower = less leverage | 0.48× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $624.1M | ||
| Q3 25 | $1.1B | $618.7M | ||
| Q2 25 | $1.0B | $534.9M | ||
| Q1 25 | $1.0B | $536.1M | ||
| Q4 24 | $1.6B | $675.3M | ||
| Q3 24 | $853.5M | $764.5M | ||
| Q2 24 | $985.9M | $666.0M | ||
| Q1 24 | $952.5M | $622.7M |
| 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 | $2.7B | ||
| Q3 25 | $3.9B | $2.6B | ||
| Q2 25 | $3.9B | $2.5B | ||
| Q1 25 | $3.9B | $2.5B | ||
| Q4 24 | $3.8B | $2.6B | ||
| Q3 24 | $4.0B | $2.5B | ||
| Q2 24 | $4.1B | $2.4B | ||
| Q1 24 | $4.1B | $2.3B |
| Q4 25 | $10.1B | $3.3B | ||
| Q3 25 | $10.2B | $3.2B | ||
| Q2 25 | $10.1B | $3.0B | ||
| Q1 25 | $9.6B | $3.0B | ||
| Q4 24 | $9.7B | $3.1B | ||
| Q3 24 | $9.0B | $3.0B | ||
| Q2 24 | $9.2B | $2.9B | ||
| Q1 24 | $9.1B | $2.8B |
| 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 | $196.3M |
| Free Cash FlowOCF − Capex | $103.8M | $184.3M |
| FCF MarginFCF / Revenue | 25.0% | 31.1% |
| Capex IntensityCapex / Revenue | 0.4% | 2.0% |
| Cash ConversionOCF / Net Profit | — | 1.48× |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $637.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $196.3M | ||
| Q3 25 | $96.9M | $179.2M | ||
| Q2 25 | $83.8M | $182.7M | ||
| Q1 25 | $99.5M | $125.4M | ||
| Q4 24 | $78.7M | $185.2M | ||
| Q3 24 | $88.6M | $178.6M | ||
| Q2 24 | $78.6M | $139.0M | ||
| Q1 24 | $66.8M | $118.9M |
| Q4 25 | $103.8M | $184.3M | ||
| Q3 25 | $95.6M | $175.7M | ||
| Q2 25 | $81.0M | $163.1M | ||
| Q1 25 | $98.4M | $114.8M | ||
| Q4 24 | $78.3M | $171.3M | ||
| Q3 24 | $88.6M | $159.2M | ||
| Q2 24 | $78.4M | $102.7M | ||
| Q1 24 | $66.8M | $81.7M |
| Q4 25 | 25.0% | 31.1% | ||
| Q3 25 | 24.1% | 32.3% | ||
| Q2 25 | 21.1% | 28.5% | ||
| Q1 25 | 27.5% | 21.7% | ||
| Q4 24 | 21.6% | 31.2% | ||
| Q3 24 | 24.7% | 30.7% | ||
| Q2 24 | 22.8% | 18.6% | ||
| Q1 24 | 20.7% | 16.6% |
| Q4 25 | 0.4% | 2.0% | ||
| Q3 25 | 0.3% | 0.6% | ||
| Q2 25 | 0.7% | 3.4% | ||
| Q1 25 | 0.3% | 2.0% | ||
| Q4 24 | 0.1% | 2.5% | ||
| Q3 24 | 0.0% | 3.7% | ||
| Q2 24 | 0.1% | 6.6% | ||
| Q1 24 | 0.0% | 7.6% |
| Q4 25 | — | 1.48× | ||
| Q3 25 | — | 1.30× | ||
| Q2 25 | — | 1.43× | ||
| Q1 25 | — | 1.01× | ||
| Q4 24 | 2.35× | 1.70× | ||
| Q3 24 | 9.94× | 1.46× | ||
| Q2 24 | 10.35× | 1.05× | ||
| Q1 24 | 2.10× | 0.97× |
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% |
GGG
| Industrial | $284.3M | 48% |
| Contractor | $265.5M | 45% |
| Other | $43.4M | 7% |
