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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and Acushnet Holdings Corp. (GOLF). Click either name above to swap in a different company.
Acushnet Holdings Corp. is the larger business by last-quarter revenue ($477.2M vs $414.7M, roughly 1.2× BILL Holdings, Inc.). BILL Holdings, Inc. runs the higher net margin — -0.6% vs -7.3%, a 6.7% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs 7.2%). BILL Holdings, Inc. produced more free cash flow last quarter ($103.8M vs $-23.3M). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs -17.9%).
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.
The Acushnet Company is an American company focused on the golf market. The company operates a series of brands that manufacture golf equipment, clothing and accessories.
BILL vs GOLF — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $477.2M |
| Net Profit | $-2.6M | $-34.9M |
| Gross Margin | 79.8% | 44.1% |
| Operating Margin | -4.4% | -3.8% |
| Net Margin | -0.6% | -7.3% |
| Revenue YoY | 14.4% | 7.2% |
| Net Profit YoY | -107.7% | -3027.3% |
| EPS (diluted) | $-0.03 | $-0.57 |
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 | $477.2M | ||
| Q3 25 | $395.7M | $657.7M | ||
| Q2 25 | $383.3M | $720.5M | ||
| Q1 25 | $358.2M | $703.4M | ||
| Q4 24 | $362.6M | $445.2M | ||
| Q3 24 | $358.4M | $620.5M | ||
| Q2 24 | $343.7M | $683.9M | ||
| Q1 24 | $323.0M | $707.6M |
| Q4 25 | $-2.6M | $-34.9M | ||
| Q3 25 | $-3.0M | $48.5M | ||
| Q2 25 | $-7.1M | $75.6M | ||
| Q1 25 | $-11.6M | $99.4M | ||
| Q4 24 | $33.5M | $-1.1M | ||
| Q3 24 | $8.9M | $56.2M | ||
| Q2 24 | $7.6M | $71.4M | ||
| Q1 24 | $31.8M | $87.8M |
| Q4 25 | 79.8% | 44.1% | ||
| Q3 25 | 80.5% | 48.5% | ||
| Q2 25 | 80.8% | 49.2% | ||
| Q1 25 | 81.2% | 47.9% | ||
| Q4 24 | 81.6% | 22.6% | ||
| Q3 24 | 82.0% | 54.4% | ||
| Q2 24 | 81.0% | 54.4% | ||
| Q1 24 | 83.0% | 53.4% |
| Q4 25 | -4.4% | -3.8% | ||
| Q3 25 | -5.2% | 14.1% | ||
| Q2 25 | -5.8% | 15.2% | ||
| Q1 25 | -8.1% | 16.3% | ||
| Q4 24 | -6.0% | -1.2% | ||
| Q3 24 | -2.1% | 13.2% | ||
| Q2 24 | -6.5% | 15.5% | ||
| Q1 24 | -8.6% | 17.2% |
| Q4 25 | -0.6% | -7.3% | ||
| Q3 25 | -0.7% | 7.4% | ||
| Q2 25 | -1.8% | 10.5% | ||
| Q1 25 | -3.2% | 14.1% | ||
| Q4 24 | 9.3% | -0.3% | ||
| Q3 24 | 2.5% | 9.1% | ||
| Q2 24 | 2.2% | 10.4% | ||
| Q1 24 | 9.8% | 12.4% |
| Q4 25 | $-0.03 | $-0.57 | ||
| Q3 25 | $-0.03 | $0.81 | ||
| Q2 25 | $0.02 | $1.25 | ||
| Q1 25 | $-0.11 | $1.62 | ||
| Q4 24 | $-0.06 | $0.02 | ||
| Q3 24 | $0.08 | $0.89 | ||
| Q2 24 | $0.37 | $1.11 | ||
| Q1 24 | $0.00 | $1.35 |
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 | $926.2M |
| Stockholders' EquityBook value | $3.8B | $783.6M |
| Total Assets | $10.1B | $2.3B |
| Debt / EquityLower = less leverage | 0.48× | 1.18× |
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 | $926.2M | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | $753.1M | ||
| Q3 24 | $914.8M | — | ||
| Q2 24 | $914.0M | — | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $3.8B | $783.6M | ||
| Q3 25 | $3.9B | $852.3M | ||
| Q2 25 | $3.9B | $808.5M | ||
| Q1 25 | $3.9B | $780.3M | ||
| Q4 24 | $3.8B | $765.2M | ||
| Q3 24 | $4.0B | $863.9M | ||
| Q2 24 | $4.1B | $863.7M | ||
| Q1 24 | $4.1B | $883.7M |
| Q4 25 | $10.1B | $2.3B | ||
| Q3 25 | $10.2B | $2.4B | ||
| Q2 25 | $10.1B | $2.4B | ||
| Q1 25 | $9.6B | $2.4B | ||
| Q4 24 | $9.7B | $2.2B | ||
| Q3 24 | $9.0B | $2.3B | ||
| Q2 24 | $9.2B | $2.3B | ||
| Q1 24 | $9.1B | $2.4B |
| Q4 25 | 0.48× | 1.18× | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.43× | — | ||
| Q4 24 | 0.44× | 0.98× | ||
| 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 | $-338.0K |
| Free Cash FlowOCF − Capex | $103.8M | $-23.3M |
| FCF MarginFCF / Revenue | 25.0% | -4.9% |
| Capex IntensityCapex / Revenue | 0.4% | 4.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $120.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $-338.0K | ||
| Q3 25 | $96.9M | $163.1M | ||
| Q2 25 | $83.8M | $151.9M | ||
| Q1 25 | $99.5M | $-120.3M | ||
| Q4 24 | $78.7M | $-1.1M | ||
| Q3 24 | $88.6M | $144.1M | ||
| Q2 24 | $78.6M | $211.6M | ||
| Q1 24 | $66.8M | $-109.5M |
| Q4 25 | $103.8M | $-23.3M | ||
| Q3 25 | $95.6M | $136.9M | ||
| Q2 25 | $81.0M | $138.0M | ||
| Q1 25 | $98.4M | $-131.5M | ||
| Q4 24 | $78.3M | $-33.2M | ||
| Q3 24 | $88.6M | $123.7M | ||
| Q2 24 | $78.4M | $196.8M | ||
| Q1 24 | $66.8M | $-116.8M |
| Q4 25 | 25.0% | -4.9% | ||
| Q3 25 | 24.1% | 20.8% | ||
| Q2 25 | 21.1% | 19.2% | ||
| Q1 25 | 27.5% | -18.7% | ||
| Q4 24 | 21.6% | -7.5% | ||
| Q3 24 | 24.7% | 19.9% | ||
| Q2 24 | 22.8% | 28.8% | ||
| Q1 24 | 20.7% | -16.5% |
| Q4 25 | 0.4% | 4.8% | ||
| Q3 25 | 0.3% | 4.0% | ||
| Q2 25 | 0.7% | 1.9% | ||
| Q1 25 | 0.3% | 1.6% | ||
| Q4 24 | 0.1% | 7.2% | ||
| Q3 24 | 0.0% | 3.3% | ||
| Q2 24 | 0.1% | 2.2% | ||
| Q1 24 | 0.0% | 1.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 3.36× | ||
| Q2 25 | — | 2.01× | ||
| Q1 25 | — | -1.21× | ||
| Q4 24 | 2.35× | — | ||
| Q3 24 | 9.94× | 2.56× | ||
| Q2 24 | 10.35× | 2.96× | ||
| Q1 24 | 2.10× | -1.25× |
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% |
GOLF
| Titleist Golf Equipment | $293.8M | 62% |
| Footjoy Golf Wear | $102.0M | 21% |
| Other | $45.3M | 9% |
| Golf Gear | $36.1M | 8% |
