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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and KENNAMETAL INC (KMT). Click either name above to swap in a different company.
KENNAMETAL INC is the larger business by last-quarter revenue ($529.5M vs $414.7M, roughly 1.3× BILL Holdings, Inc.). KENNAMETAL INC runs the higher net margin — 6.4% vs -0.6%, a 7.0% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs 9.8%). BILL Holdings, Inc. produced more free cash flow last quarter ($103.8M vs $42.4M). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs 1.3%).
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.
Kennametal, Inc. is a manufacturer of high-performance cutting tools and engineered components used in the aerospace, defense, transportation and oil and gas drilling industries. Its customer base is global.
BILL vs KMT — Head-to-Head
Income Statement — Q2 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $529.5M |
| Net Profit | $-2.6M | $33.9M |
| Gross Margin | 79.8% | 32.8% |
| Operating Margin | -4.4% | 9.9% |
| Net Margin | -0.6% | 6.4% |
| Revenue YoY | 14.4% | 9.8% |
| Net Profit YoY | -107.7% | 89.0% |
| EPS (diluted) | $-0.03 | $0.44 |
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 | $529.5M | ||
| Q3 25 | $395.7M | $498.0M | ||
| Q2 25 | $383.3M | $516.4M | ||
| Q1 25 | $358.2M | $486.4M | ||
| Q4 24 | $362.6M | $482.1M | ||
| Q3 24 | $358.4M | $481.9M | ||
| Q2 24 | $343.7M | $543.3M | ||
| Q1 24 | $323.0M | $515.8M |
| Q4 25 | $-2.6M | $33.9M | ||
| Q3 25 | $-3.0M | $23.3M | ||
| Q2 25 | $-7.1M | $21.6M | ||
| Q1 25 | $-11.6M | $31.5M | ||
| Q4 24 | $33.5M | $17.9M | ||
| Q3 24 | $8.9M | $22.1M | ||
| Q2 24 | $7.6M | $37.2M | ||
| Q1 24 | $31.8M | $19.0M |
| Q4 25 | 79.8% | 32.8% | ||
| Q3 25 | 80.5% | 31.0% | ||
| Q2 25 | 80.8% | 28.2% | ||
| Q1 25 | 81.2% | 32.1% | ||
| Q4 24 | 81.6% | 30.1% | ||
| Q3 24 | 82.0% | 31.3% | ||
| Q2 24 | 81.0% | 31.5% | ||
| Q1 24 | 83.0% | 29.7% |
| Q4 25 | -4.4% | 9.9% | ||
| Q3 25 | -5.2% | 7.5% | ||
| Q2 25 | -5.8% | 6.1% | ||
| Q1 25 | -8.1% | 9.1% | ||
| Q4 24 | -6.0% | 6.6% | ||
| Q3 24 | -2.1% | 7.5% | ||
| Q2 24 | -6.5% | 11.3% | ||
| Q1 24 | -8.6% | 6.8% |
| Q4 25 | -0.6% | 6.4% | ||
| Q3 25 | -0.7% | 4.7% | ||
| Q2 25 | -1.8% | 4.2% | ||
| Q1 25 | -3.2% | 6.5% | ||
| Q4 24 | 9.3% | 3.7% | ||
| Q3 24 | 2.5% | 4.6% | ||
| Q2 24 | 2.2% | 6.8% | ||
| Q1 24 | 9.8% | 3.7% |
| Q4 25 | $-0.03 | $0.44 | ||
| Q3 25 | $-0.03 | $0.30 | ||
| Q2 25 | $0.02 | $0.28 | ||
| Q1 25 | $-0.11 | $0.41 | ||
| Q4 24 | $-0.06 | $0.23 | ||
| Q3 24 | $0.08 | $0.28 | ||
| Q2 24 | $0.37 | $0.47 | ||
| Q1 24 | $0.00 | $0.24 |
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 | $129.3M |
| Total DebtLower is stronger | $1.8B | $597.2M |
| Stockholders' EquityBook value | $3.8B | $1.3B |
| Total Assets | $10.1B | $2.6B |
| Debt / EquityLower = less leverage | 0.48× | 0.45× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $129.3M | ||
| Q3 25 | $1.1B | $103.5M | ||
| Q2 25 | $1.0B | $140.5M | ||
| Q1 25 | $1.0B | $97.5M | ||
| Q4 24 | $1.6B | $121.2M | ||
| Q3 24 | $853.5M | $119.6M | ||
| Q2 24 | $985.9M | $128.0M | ||
| Q1 24 | $952.5M | $92.1M |
| Q4 25 | $1.8B | $597.2M | ||
| Q3 25 | $1.9B | $597.0M | ||
| Q2 25 | $1.7B | $596.8M | ||
| Q1 25 | $1.7B | $596.6M | ||
| Q4 24 | $1.7B | $596.4M | ||
| Q3 24 | $914.8M | $596.2M | ||
| Q2 24 | $914.0M | $596.0M | ||
| Q1 24 | $1.1B | $595.8M |
| Q4 25 | $3.8B | $1.3B | ||
| Q3 25 | $3.9B | $1.3B | ||
| Q2 25 | $3.9B | $1.3B | ||
| Q1 25 | $3.9B | $1.2B | ||
| Q4 24 | $3.8B | $1.2B | ||
| Q3 24 | $4.0B | $1.3B | ||
| Q2 24 | $4.1B | $1.2B | ||
| Q1 24 | $4.1B | $1.3B |
| Q4 25 | $10.1B | $2.6B | ||
| Q3 25 | $10.2B | $2.5B | ||
| Q2 25 | $10.1B | $2.5B | ||
| Q1 25 | $9.6B | $2.5B | ||
| Q4 24 | $9.7B | $2.4B | ||
| Q3 24 | $9.0B | $2.5B | ||
| Q2 24 | $9.2B | $2.5B | ||
| Q1 24 | $9.1B | $2.5B |
| Q4 25 | 0.48× | 0.45× | ||
| Q3 25 | 0.48× | 0.46× | ||
| Q2 25 | 0.44× | 0.46× | ||
| Q1 25 | 0.43× | 0.48× | ||
| Q4 24 | 0.44× | 0.49× | ||
| Q3 24 | 0.23× | 0.47× | ||
| Q2 24 | 0.22× | 0.48× | ||
| Q1 24 | 0.28× | 0.47× |
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 | $55.1M |
| Free Cash FlowOCF − Capex | $103.8M | $42.4M |
| FCF MarginFCF / Revenue | 25.0% | 8.0% |
| Capex IntensityCapex / Revenue | 0.4% | 2.4% |
| Cash ConversionOCF / Net Profit | — | 1.63× |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $99.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $55.1M | ||
| Q3 25 | $96.9M | $17.5M | ||
| Q2 25 | $83.8M | $78.6M | ||
| Q1 25 | $99.5M | $28.8M | ||
| Q4 24 | $78.7M | $55.2M | ||
| Q3 24 | $88.6M | $45.7M | ||
| Q2 24 | $78.6M | $113.6M | ||
| Q1 24 | $66.8M | $75.2M |
| Q4 25 | $103.8M | $42.4M | ||
| Q3 25 | $95.6M | $-5.5M | ||
| Q2 25 | $81.0M | $57.1M | ||
| Q1 25 | $98.4M | $5.3M | ||
| Q4 24 | $78.3M | $35.9M | ||
| Q3 24 | $88.6M | $21.0M | ||
| Q2 24 | $78.4M | $90.3M | ||
| Q1 24 | $66.8M | $48.4M |
| Q4 25 | 25.0% | 8.0% | ||
| Q3 25 | 24.1% | -1.1% | ||
| Q2 25 | 21.1% | 11.1% | ||
| Q1 25 | 27.5% | 1.1% | ||
| Q4 24 | 21.6% | 7.5% | ||
| Q3 24 | 24.7% | 4.4% | ||
| Q2 24 | 22.8% | 16.6% | ||
| Q1 24 | 20.7% | 9.4% |
| Q4 25 | 0.4% | 2.4% | ||
| Q3 25 | 0.3% | 4.6% | ||
| Q2 25 | 0.7% | 4.2% | ||
| Q1 25 | 0.3% | 4.8% | ||
| Q4 24 | 0.1% | 4.0% | ||
| Q3 24 | 0.0% | 5.1% | ||
| Q2 24 | 0.1% | 4.3% | ||
| Q1 24 | 0.0% | 5.2% |
| Q4 25 | — | 1.63× | ||
| Q3 25 | — | 0.75× | ||
| Q2 25 | — | 3.64× | ||
| Q1 25 | — | 0.92× | ||
| Q4 24 | 2.35× | 3.08× | ||
| Q3 24 | 9.94× | 2.07× | ||
| Q2 24 | 10.35× | 3.06× | ||
| Q1 24 | 2.10× | 3.96× |
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% |
KMT
| Metal Cutting | $331.1M | 63% |
| Infrastructure | $198.5M | 37% |
