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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and Installed Building Products, Inc. (IBP). Click either name above to swap in a different company.
Installed Building Products, Inc. is the larger business by last-quarter revenue ($747.5M vs $414.7M, roughly 1.8× BILL Holdings, Inc.). Installed Building Products, Inc. runs the higher net margin — 10.2% vs -0.6%, a 10.9% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs -0.4%). BILL Holdings, Inc. produced more free cash flow last quarter ($103.8M vs $49.3M). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs 3.9%).
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.
Installed Building Products, Inc. is a leading US-based provider of professional installation services for building products. Core offerings include insulation, gutters, garage doors, fire protection systems and window treatments, serving residential new construction, repair & remodel, and commercial construction segments across most US regions.
BILL vs IBP — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $747.5M |
| Net Profit | $-2.6M | $76.6M |
| Gross Margin | 79.8% | 35.0% |
| Operating Margin | -4.4% | 14.6% |
| Net Margin | -0.6% | 10.2% |
| Revenue YoY | 14.4% | -0.4% |
| Net Profit YoY | -107.7% | 14.5% |
| EPS (diluted) | $-0.03 | $2.81 |
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 | $747.5M | ||
| Q3 25 | $395.7M | $778.2M | ||
| Q2 25 | $383.3M | $760.3M | ||
| Q1 25 | $358.2M | $684.8M | ||
| Q4 24 | $362.6M | $750.2M | ||
| Q3 24 | $358.4M | $760.6M | ||
| Q2 24 | $343.7M | $737.6M | ||
| Q1 24 | $323.0M | $692.9M |
| Q4 25 | $-2.6M | $76.6M | ||
| Q3 25 | $-3.0M | $74.4M | ||
| Q2 25 | $-7.1M | $69.0M | ||
| Q1 25 | $-11.6M | $45.4M | ||
| Q4 24 | $33.5M | $66.9M | ||
| Q3 24 | $8.9M | $68.6M | ||
| Q2 24 | $7.6M | $65.2M | ||
| Q1 24 | $31.8M | $55.9M |
| Q4 25 | 79.8% | 35.0% | ||
| Q3 25 | 80.5% | 34.0% | ||
| Q2 25 | 80.8% | 34.2% | ||
| Q1 25 | 81.2% | 32.7% | ||
| Q4 24 | 81.6% | 33.6% | ||
| Q3 24 | 82.0% | 33.8% | ||
| Q2 24 | 81.0% | 34.1% | ||
| Q1 24 | 83.0% | 33.8% |
| Q4 25 | -4.4% | 14.6% | ||
| Q3 25 | -5.2% | 13.7% | ||
| Q2 25 | -5.8% | 13.3% | ||
| Q1 25 | -8.1% | 10.2% | ||
| Q4 24 | -6.0% | 13.1% | ||
| Q3 24 | -2.1% | 13.3% | ||
| Q2 24 | -6.5% | 12.9% | ||
| Q1 24 | -8.6% | 12.7% |
| Q4 25 | -0.6% | 10.2% | ||
| Q3 25 | -0.7% | 9.6% | ||
| Q2 25 | -1.8% | 9.1% | ||
| Q1 25 | -3.2% | 6.6% | ||
| Q4 24 | 9.3% | 8.9% | ||
| Q3 24 | 2.5% | 9.0% | ||
| Q2 24 | 2.2% | 8.8% | ||
| Q1 24 | 9.8% | 8.1% |
| Q4 25 | $-0.03 | $2.81 | ||
| Q3 25 | $-0.03 | $2.74 | ||
| Q2 25 | $0.02 | $2.52 | ||
| Q1 25 | $-0.11 | $1.64 | ||
| Q4 24 | $-0.06 | $2.39 | ||
| Q3 24 | $0.08 | $2.44 | ||
| Q2 24 | $0.37 | $2.30 | ||
| Q1 24 | $0.00 | $1.97 |
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 | $321.9M |
| Total DebtLower is stronger | $1.8B | $886.6M |
| Stockholders' EquityBook value | $3.8B | $709.9M |
| Total Assets | $10.1B | $2.1B |
| Debt / EquityLower = less leverage | 0.48× | 1.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $321.9M | ||
| Q3 25 | $1.1B | $333.3M | ||
| Q2 25 | $1.0B | $305.2M | ||
| Q1 25 | $1.0B | $298.7M | ||
| Q4 24 | $1.6B | $327.6M | ||
| Q3 24 | $853.5M | $406.2M | ||
| Q2 24 | $985.9M | $380.3M | ||
| Q1 24 | $952.5M | $399.9M |
| Q4 25 | $1.8B | $886.6M | ||
| Q3 25 | $1.9B | $880.8M | ||
| Q2 25 | $1.7B | $876.1M | ||
| Q1 25 | $1.7B | $872.4M | ||
| Q4 24 | $1.7B | $874.8M | ||
| Q3 24 | $914.8M | $872.3M | ||
| Q2 24 | $914.0M | $875.8M | ||
| Q1 24 | $1.1B | $875.0M |
| Q4 25 | $3.8B | $709.9M | ||
| Q3 25 | $3.9B | $678.6M | ||
| Q2 25 | $3.9B | $664.5M | ||
| Q1 25 | $3.9B | $660.9M | ||
| Q4 24 | $3.8B | $705.3M | ||
| Q3 24 | $4.0B | $716.4M | ||
| Q2 24 | $4.1B | $685.3M | ||
| Q1 24 | $4.1B | $679.2M |
| Q4 25 | $10.1B | $2.1B | ||
| Q3 25 | $10.2B | $2.1B | ||
| Q2 25 | $10.1B | $2.0B | ||
| Q1 25 | $9.6B | $2.0B | ||
| Q4 24 | $9.7B | $2.1B | ||
| Q3 24 | $9.0B | $2.1B | ||
| Q2 24 | $9.2B | $2.0B | ||
| Q1 24 | $9.1B | $2.0B |
| Q4 25 | 0.48× | 1.25× | ||
| Q3 25 | 0.48× | 1.30× | ||
| Q2 25 | 0.44× | 1.32× | ||
| Q1 25 | 0.43× | 1.32× | ||
| Q4 24 | 0.44× | 1.24× | ||
| Q3 24 | 0.23× | 1.22× | ||
| Q2 24 | 0.22× | 1.28× | ||
| Q1 24 | 0.28× | 1.29× |
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 | $64.9M |
| Free Cash FlowOCF − Capex | $103.8M | $49.3M |
| FCF MarginFCF / Revenue | 25.0% | 6.6% |
| Capex IntensityCapex / Revenue | 0.4% | 2.1% |
| Cash ConversionOCF / Net Profit | — | 0.85× |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $300.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $64.9M | ||
| Q3 25 | $96.9M | $124.0M | ||
| Q2 25 | $83.8M | $90.4M | ||
| Q1 25 | $99.5M | $92.1M | ||
| Q4 24 | $78.7M | $74.8M | ||
| Q3 24 | $88.6M | $101.4M | ||
| Q2 24 | $78.6M | $79.0M | ||
| Q1 24 | $66.8M | $84.8M |
| Q4 25 | $103.8M | $49.3M | ||
| Q3 25 | $95.6M | $104.8M | ||
| Q2 25 | $81.0M | $74.8M | ||
| Q1 25 | $98.4M | $71.9M | ||
| Q4 24 | $78.3M | $52.9M | ||
| Q3 24 | $88.6M | $77.3M | ||
| Q2 24 | $78.4M | $58.2M | ||
| Q1 24 | $66.8M | $63.0M |
| Q4 25 | 25.0% | 6.6% | ||
| Q3 25 | 24.1% | 13.5% | ||
| Q2 25 | 21.1% | 9.8% | ||
| Q1 25 | 27.5% | 10.5% | ||
| Q4 24 | 21.6% | 7.1% | ||
| Q3 24 | 24.7% | 10.2% | ||
| Q2 24 | 22.8% | 7.9% | ||
| Q1 24 | 20.7% | 9.1% |
| Q4 25 | 0.4% | 2.1% | ||
| Q3 25 | 0.3% | 2.5% | ||
| Q2 25 | 0.7% | 2.1% | ||
| Q1 25 | 0.3% | 2.9% | ||
| Q4 24 | 0.1% | 2.9% | ||
| Q3 24 | 0.0% | 3.2% | ||
| Q2 24 | 0.1% | 2.8% | ||
| Q1 24 | 0.0% | 3.1% |
| Q4 25 | — | 0.85× | ||
| Q3 25 | — | 1.67× | ||
| Q2 25 | — | 1.31× | ||
| Q1 25 | — | 2.03× | ||
| Q4 24 | 2.35× | 1.12× | ||
| Q3 24 | 9.94× | 1.48× | ||
| Q2 24 | 10.35× | 1.21× | ||
| Q1 24 | 2.10× | 1.52× |
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% |
IBP
| Residential New Construction | $488.6M | 65% |
| Other Customer Installation | $67.8M | 9% |
| Shower Doors Shelving And Mirrors | $53.5M | 7% |
| Other Building Products | $47.7M | 6% |
| Fireproofing And Firestopping | $37.6M | 5% |
| Rain Gutters | $31.3M | 4% |
| Window Blinds | $18.0M | 2% |
| Related Party | $6.7M | 1% |
