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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and Gaming & Leisure Properties, Inc. (GLPI). Click either name above to swap in a different company.
Gaming & Leisure Properties, Inc. is the larger business by last-quarter revenue ($420.0M vs $414.7M, roughly 1.0× BILL Holdings, Inc.). Gaming & Leisure Properties, Inc. runs the higher net margin — 57.0% vs -0.6%, a 57.6% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs 6.3%). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs 5.0%).
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.
Gaming and Leisure Properties, Inc. is a real estate investment trust (REIT) specializing in casino properties, based in Wyomissing, Pennsylvania. It was formed in November 2013 as a corporate spin-off from Penn National Gaming. The company owns 62 casino properties, all of which are leased to other companies.
BILL vs GLPI — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $420.0M |
| Net Profit | $-2.6M | $239.4M |
| Gross Margin | 79.8% | — |
| Operating Margin | -4.4% | 79.4% |
| Net Margin | -0.6% | 57.0% |
| Revenue YoY | 14.4% | 6.3% |
| Net Profit YoY | -107.7% | 40.5% |
| EPS (diluted) | $-0.03 | — |
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.
| Q1 26 | — | $420.0M | ||
| Q4 25 | $414.7M | $407.0M | ||
| Q3 25 | $395.7M | $397.6M | ||
| Q2 25 | $383.3M | $394.9M | ||
| Q1 25 | $358.2M | $395.2M | ||
| Q4 24 | $362.6M | $389.6M | ||
| Q3 24 | $358.4M | $385.3M | ||
| Q2 24 | $343.7M | $380.6M |
| Q1 26 | — | $239.4M | ||
| Q4 25 | $-2.6M | $275.4M | ||
| Q3 25 | $-3.0M | $241.2M | ||
| Q2 25 | $-7.1M | $151.4M | ||
| Q1 25 | $-11.6M | $165.2M | ||
| Q4 24 | $33.5M | $223.6M | ||
| Q3 24 | $8.9M | $184.7M | ||
| Q2 24 | $7.6M | $208.3M |
| Q1 26 | — | — | ||
| 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 26 | — | 79.4% | ||
| Q4 25 | -4.4% | 89.3% | ||
| Q3 25 | -5.2% | 84.8% | ||
| Q2 25 | -5.8% | 61.3% | ||
| Q1 25 | -8.1% | 65.5% | ||
| Q4 24 | -6.0% | 79.1% | ||
| Q3 24 | -2.1% | 70.4% | ||
| Q2 24 | -6.5% | 77.1% |
| Q1 26 | — | 57.0% | ||
| Q4 25 | -0.6% | 67.6% | ||
| Q3 25 | -0.7% | 60.7% | ||
| Q2 25 | -1.8% | 38.4% | ||
| Q1 25 | -3.2% | 41.8% | ||
| Q4 24 | 9.3% | 57.4% | ||
| Q3 24 | 2.5% | 47.9% | ||
| Q2 24 | 2.2% | 54.7% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.03 | $0.96 | ||
| Q3 25 | $-0.03 | $0.85 | ||
| Q2 25 | $0.02 | $0.54 | ||
| Q1 25 | $-0.11 | $0.60 | ||
| Q4 24 | $-0.06 | $0.79 | ||
| Q3 24 | $0.08 | $0.67 | ||
| Q2 24 | $0.37 | $0.77 |
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 | $274.5M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.8B | $5.0B |
| Total Assets | $10.1B | $13.8B |
| Debt / EquityLower = less leverage | 0.48× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $274.5M | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.6B | $560.8M | ||
| Q3 24 | $853.5M | $560.8M | ||
| Q2 24 | $985.9M | $560.8M |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $7.2B | ||
| Q3 25 | $1.9B | $7.2B | ||
| Q2 25 | $1.7B | $6.9B | ||
| Q1 25 | $1.7B | $6.9B | ||
| Q4 24 | $1.7B | $7.7B | ||
| Q3 24 | $914.8M | $7.4B | ||
| Q2 24 | $914.0M | $6.6B |
| Q1 26 | — | $5.0B | ||
| Q4 25 | $3.8B | $4.6B | ||
| Q3 25 | $3.9B | $4.6B | ||
| Q2 25 | $3.9B | $4.6B | ||
| Q1 25 | $3.9B | $4.2B | ||
| Q4 24 | $3.8B | $4.3B | ||
| Q3 24 | $4.0B | $4.3B | ||
| Q2 24 | $4.1B | $4.1B |
| Q1 26 | — | $13.8B | ||
| Q4 25 | $10.1B | $12.9B | ||
| Q3 25 | $10.2B | $12.8B | ||
| Q2 25 | $10.1B | $12.5B | ||
| Q1 25 | $9.6B | $12.1B | ||
| Q4 24 | $9.7B | $13.1B | ||
| Q3 24 | $9.0B | $12.7B | ||
| Q2 24 | $9.2B | $11.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.48× | 1.56× | ||
| Q3 25 | 0.48× | 1.57× | ||
| Q2 25 | 0.44× | 1.51× | ||
| Q1 25 | 0.43× | 1.63× | ||
| Q4 24 | 0.44× | 1.81× | ||
| Q3 24 | 0.23× | 1.74× | ||
| Q2 24 | 0.22× | 1.60× |
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 | — |
| Free Cash FlowOCF − Capex | $103.8M | — |
| FCF MarginFCF / Revenue | 25.0% | — |
| Capex IntensityCapex / Revenue | 0.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $105.3M | $1.1B | ||
| Q3 25 | $96.9M | $240.3M | ||
| Q2 25 | $83.8M | $293.4M | ||
| Q1 25 | $99.5M | $252.5M | ||
| Q4 24 | $78.7M | $1.1B | ||
| Q3 24 | $88.6M | $270.4M | ||
| Q2 24 | $78.6M | $252.1M |
| Q1 26 | — | — | ||
| Q4 25 | $103.8M | — | ||
| Q3 25 | $95.6M | $183.0M | ||
| Q2 25 | $81.0M | $272.3M | ||
| Q1 25 | $98.4M | $239.6M | ||
| Q4 24 | $78.3M | $1.1B | ||
| Q3 24 | $88.6M | $261.5M | ||
| Q2 24 | $78.4M | $245.0M |
| Q1 26 | — | — | ||
| Q4 25 | 25.0% | — | ||
| Q3 25 | 24.1% | 46.0% | ||
| Q2 25 | 21.1% | 69.0% | ||
| Q1 25 | 27.5% | 60.6% | ||
| Q4 24 | 21.6% | 275.3% | ||
| Q3 24 | 24.7% | 67.9% | ||
| Q2 24 | 22.8% | 64.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.4% | — | ||
| Q3 25 | 0.3% | 14.4% | ||
| Q2 25 | 0.7% | 5.3% | ||
| Q1 25 | 0.3% | 3.3% | ||
| Q4 24 | 0.1% | 0.0% | ||
| Q3 24 | 0.0% | 2.3% | ||
| Q2 24 | 0.1% | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.10× | ||
| Q3 25 | — | 1.00× | ||
| Q2 25 | — | 1.94× | ||
| Q1 25 | — | 1.53× | ||
| Q4 24 | 2.35× | 4.80× | ||
| Q3 24 | 9.94× | 1.46× | ||
| Q2 24 | 10.35× | 1.21× |
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% |
GLPI
Segment breakdown not available.
