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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and Howard Hughes Holdings Inc. (HHH). Click either name above to swap in a different company.
Howard Hughes Holdings Inc. is the larger business by last-quarter revenue ($624.4M vs $414.7M, roughly 1.5× BILL Holdings, Inc.). Howard Hughes Holdings Inc. runs the higher net margin — 1.0% vs -0.6%, a 1.6% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs -33.2%). Howard Hughes Holdings Inc. produced more free cash flow last quarter ($348.6M vs $103.8M). Over the past eight quarters, Howard Hughes Holdings Inc.'s revenue compounded faster (91.0% 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.
Howard Hughes Holdings Inc., formerly the Howard Hughes Corporation, is a real estate development and management company based in The Woodlands, Texas. It was formed in 2010 as a spin-off from General Growth Properties (GGP). Most of its holdings are focused on several master-planned communities. It took its name from the original Howard Hughes Corporation, which had developed the planned community of Summerlin, Nevada, and later became a subsidiary of GGP.
BILL vs HHH — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $624.4M |
| Net Profit | $-2.6M | $6.0M |
| Gross Margin | 79.8% | — |
| Operating Margin | -4.4% | 4.2% |
| Net Margin | -0.6% | 1.0% |
| Revenue YoY | 14.4% | -33.2% |
| Net Profit YoY | -107.7% | -96.2% |
| EPS (diluted) | $-0.03 | $0.20 |
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 | $624.4M | ||
| Q3 25 | $395.7M | $390.2M | ||
| Q2 25 | $383.3M | $260.9M | ||
| Q1 25 | $358.2M | $199.3M | ||
| Q4 24 | $362.6M | $935.0M | ||
| Q3 24 | $358.4M | $327.1M | ||
| Q2 24 | $343.7M | $317.4M | ||
| Q1 24 | $323.0M | $171.1M |
| Q4 25 | $-2.6M | $6.0M | ||
| Q3 25 | $-3.0M | $119.5M | ||
| Q2 25 | $-7.1M | $-12.1M | ||
| Q1 25 | $-11.6M | $10.5M | ||
| Q4 24 | $33.5M | $156.3M | ||
| Q3 24 | $8.9M | $72.8M | ||
| Q2 24 | $7.6M | $21.1M | ||
| Q1 24 | $31.8M | $-52.5M |
| 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% | 4.2% | ||
| Q3 25 | -5.2% | 48.6% | ||
| Q2 25 | -5.8% | 26.0% | ||
| Q1 25 | -8.1% | 24.0% | ||
| Q4 24 | -6.0% | 33.5% | ||
| Q3 24 | -2.1% | 60.6% | ||
| Q2 24 | -6.5% | 20.4% | ||
| Q1 24 | -8.6% | -9.8% |
| Q4 25 | -0.6% | 1.0% | ||
| Q3 25 | -0.7% | 30.6% | ||
| Q2 25 | -1.8% | -4.7% | ||
| Q1 25 | -3.2% | 5.3% | ||
| Q4 24 | 9.3% | 16.7% | ||
| Q3 24 | 2.5% | 22.2% | ||
| Q2 24 | 2.2% | 6.6% | ||
| Q1 24 | 9.8% | -30.7% |
| Q4 25 | $-0.03 | $0.20 | ||
| Q3 25 | $-0.03 | $2.02 | ||
| Q2 25 | $0.02 | $-0.22 | ||
| Q1 25 | $-0.11 | $0.21 | ||
| Q4 24 | $-0.06 | $3.14 | ||
| Q3 24 | $0.08 | $1.46 | ||
| Q2 24 | $0.37 | $0.42 | ||
| Q1 24 | $0.00 | $-1.06 |
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 | $1.5B |
| Total DebtLower is stronger | $1.8B | $5.1B |
| Stockholders' EquityBook value | $3.8B | $3.8B |
| Total Assets | $10.1B | $10.6B |
| Debt / EquityLower = less leverage | 0.48× | 1.35× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $1.5B | ||
| Q3 25 | $1.1B | $1.5B | ||
| Q2 25 | $1.0B | $1.4B | ||
| Q1 25 | $1.0B | $493.7M | ||
| Q4 24 | $1.6B | $596.1M | ||
| Q3 24 | $853.5M | $400.7M | ||
| Q2 24 | $985.9M | $436.8M | ||
| Q1 24 | $952.5M | $462.7M |
| Q4 25 | $1.8B | $5.1B | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | $5.1B | ||
| Q3 24 | $914.8M | — | ||
| Q2 24 | $914.0M | — | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $3.8B | $3.8B | ||
| Q3 25 | $3.9B | $3.8B | ||
| Q2 25 | $3.9B | $3.6B | ||
| Q1 25 | $3.9B | $2.8B | ||
| Q4 24 | $3.8B | $2.8B | ||
| Q3 24 | $4.0B | $2.6B | ||
| Q2 24 | $4.1B | $3.0B | ||
| Q1 24 | $4.1B | $2.9B |
| Q4 25 | $10.1B | $10.6B | ||
| Q3 25 | $10.2B | $10.7B | ||
| Q2 25 | $10.1B | $10.3B | ||
| Q1 25 | $9.6B | $9.3B | ||
| Q4 24 | $9.7B | $9.2B | ||
| Q3 24 | $9.0B | $9.4B | ||
| Q2 24 | $9.2B | $9.9B | ||
| Q1 24 | $9.1B | $9.6B |
| Q4 25 | 0.48× | 1.35× | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.43× | — | ||
| Q4 24 | 0.44× | 1.85× | ||
| 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 | $360.3M |
| Free Cash FlowOCF − Capex | $103.8M | $348.6M |
| FCF MarginFCF / Revenue | 25.0% | 55.8% |
| Capex IntensityCapex / Revenue | 0.4% | 1.9% |
| Cash ConversionOCF / Net Profit | — | 60.04× |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $417.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $360.3M | ||
| Q3 25 | $96.9M | $149.8M | ||
| Q2 25 | $83.8M | $177.3M | ||
| Q1 25 | $99.5M | $-224.9M | ||
| Q4 24 | $78.7M | $337.1M | ||
| Q3 24 | $88.6M | $248.3M | ||
| Q2 24 | $78.6M | $-17.5M | ||
| Q1 24 | $66.8M | $-171.2M |
| Q4 25 | $103.8M | $348.6M | ||
| Q3 25 | $95.6M | $137.7M | ||
| Q2 25 | $81.0M | $169.7M | ||
| Q1 25 | $98.4M | $-238.4M | ||
| Q4 24 | $78.3M | $317.1M | ||
| Q3 24 | $88.6M | $238.7M | ||
| Q2 24 | $78.4M | $-25.1M | ||
| Q1 24 | $66.8M | $-182.0M |
| Q4 25 | 25.0% | 55.8% | ||
| Q3 25 | 24.1% | 35.3% | ||
| Q2 25 | 21.1% | 65.1% | ||
| Q1 25 | 27.5% | -119.6% | ||
| Q4 24 | 21.6% | 33.9% | ||
| Q3 24 | 24.7% | 73.0% | ||
| Q2 24 | 22.8% | -7.9% | ||
| Q1 24 | 20.7% | -106.4% |
| Q4 25 | 0.4% | 1.9% | ||
| Q3 25 | 0.3% | 3.1% | ||
| Q2 25 | 0.7% | 2.9% | ||
| Q1 25 | 0.3% | 6.8% | ||
| Q4 24 | 0.1% | 2.1% | ||
| Q3 24 | 0.0% | 2.9% | ||
| Q2 24 | 0.1% | 2.4% | ||
| Q1 24 | 0.0% | 6.3% |
| Q4 25 | — | 60.04× | ||
| Q3 25 | — | 1.25× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -21.35× | ||
| Q4 24 | 2.35× | 2.16× | ||
| Q3 24 | 9.94× | 3.41× | ||
| Q2 24 | 10.35× | -0.83× | ||
| Q1 24 | 2.10× | — |
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% |
HHH
| Transferred At Point In Time | $499.8M | 80% |
| Operating Assets Segment | $117.9M | 19% |
| Builder Price Participation | $12.9M | 2% |
