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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and Koppers Holdings Inc. (KOP). Click either name above to swap in a different company.
Koppers Holdings Inc. is the larger business by last-quarter revenue ($432.7M vs $414.7M, roughly 1.0× BILL Holdings, Inc.). Koppers Holdings Inc. runs the higher net margin — 6.9% vs -0.6%, a 7.5% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs -9.3%). BILL Holdings, Inc. produced more free cash flow last quarter ($103.8M vs $28.5M). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs -6.7%).
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.
Koppers is a global chemical and materials company based in Pittsburgh, Pennsylvania, United States. Its headquarters is an art-deco 1920s skyscraper, the Koppers Tower.
BILL vs KOP — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $432.7M |
| Net Profit | $-2.6M | $29.7M |
| Gross Margin | 79.8% | 25.6% |
| Operating Margin | -4.4% | 11.5% |
| Net Margin | -0.6% | 6.9% |
| Revenue YoY | 14.4% | -9.3% |
| Net Profit YoY | -107.7% | 391.2% |
| EPS (diluted) | $-0.03 | $1.44 |
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 | $432.7M | ||
| Q3 25 | $395.7M | $485.3M | ||
| Q2 25 | $383.3M | $504.8M | ||
| Q1 25 | $358.2M | $456.5M | ||
| Q4 24 | $362.6M | $477.0M | ||
| Q3 24 | $358.4M | $554.3M | ||
| Q2 24 | $343.7M | $563.2M | ||
| Q1 24 | $323.0M | $497.6M |
| Q4 25 | $-2.6M | $29.7M | ||
| Q3 25 | $-3.0M | $23.8M | ||
| Q2 25 | $-7.1M | $16.4M | ||
| Q1 25 | $-11.6M | $-13.9M | ||
| Q4 24 | $33.5M | $-10.2M | ||
| Q3 24 | $8.9M | $22.8M | ||
| Q2 24 | $7.6M | $26.8M | ||
| Q1 24 | $31.8M | $13.0M |
| Q4 25 | 79.8% | 25.6% | ||
| Q3 25 | 80.5% | 24.1% | ||
| Q2 25 | 80.8% | 22.6% | ||
| Q1 25 | 81.2% | 23.2% | ||
| Q4 24 | 81.6% | 17.5% | ||
| Q3 24 | 82.0% | 21.9% | ||
| Q2 24 | 81.0% | 21.6% | ||
| Q1 24 | 83.0% | 19.3% |
| Q4 25 | -4.4% | 11.5% | ||
| Q3 25 | -5.2% | 10.7% | ||
| Q2 25 | -5.8% | 7.7% | ||
| Q1 25 | -8.1% | 5.9% | ||
| Q4 24 | -6.0% | 1.3% | ||
| Q3 24 | -2.1% | 9.0% | ||
| Q2 24 | -6.5% | 10.2% | ||
| Q1 24 | -8.6% | 7.0% |
| Q4 25 | -0.6% | 6.9% | ||
| Q3 25 | -0.7% | 4.9% | ||
| Q2 25 | -1.8% | 3.2% | ||
| Q1 25 | -3.2% | -3.0% | ||
| Q4 24 | 9.3% | -2.1% | ||
| Q3 24 | 2.5% | 4.1% | ||
| Q2 24 | 2.2% | 4.8% | ||
| Q1 24 | 9.8% | 2.6% |
| Q4 25 | $-0.03 | $1.44 | ||
| Q3 25 | $-0.03 | $1.17 | ||
| Q2 25 | $0.02 | $0.81 | ||
| Q1 25 | $-0.11 | $-0.68 | ||
| Q4 24 | $-0.06 | $-0.47 | ||
| Q3 24 | $0.08 | $1.09 | ||
| Q2 24 | $0.37 | $1.25 | ||
| Q1 24 | $0.00 | $0.59 |
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 | $928.3M |
| Stockholders' EquityBook value | $3.8B | $574.0M |
| Total Assets | $10.1B | $1.9B |
| Debt / EquityLower = less leverage | 0.48× | 1.62× |
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 | $928.3M | ||
| Q3 25 | $1.9B | $932.9M | ||
| Q2 25 | $1.7B | $977.5M | ||
| Q1 25 | $1.7B | $989.0M | ||
| Q4 24 | $1.7B | $939.5M | ||
| Q3 24 | $914.8M | $989.4M | ||
| Q2 24 | $914.0M | $1.0B | ||
| Q1 24 | $1.1B | $877.6M |
| Q4 25 | $3.8B | $574.0M | ||
| Q3 25 | $3.9B | $545.6M | ||
| Q2 25 | $3.9B | $526.8M | ||
| Q1 25 | $3.9B | $498.0M | ||
| Q4 24 | $3.8B | $488.7M | ||
| Q3 24 | $4.0B | $532.3M | ||
| Q2 24 | $4.1B | $509.2M | ||
| Q1 24 | $4.1B | $505.8M |
| Q4 25 | $10.1B | $1.9B | ||
| Q3 25 | $10.2B | $1.9B | ||
| Q2 25 | $10.1B | $1.9B | ||
| Q1 25 | $9.6B | $1.9B | ||
| Q4 24 | $9.7B | $1.9B | ||
| Q3 24 | $9.0B | $2.0B | ||
| Q2 24 | $9.2B | $1.9B | ||
| Q1 24 | $9.1B | $1.8B |
| Q4 25 | 0.48× | 1.62× | ||
| Q3 25 | 0.48× | 1.71× | ||
| Q2 25 | 0.44× | 1.86× | ||
| Q1 25 | 0.43× | 1.99× | ||
| Q4 24 | 0.44× | 1.92× | ||
| Q3 24 | 0.23× | 1.86× | ||
| Q2 24 | 0.22× | 1.97× | ||
| Q1 24 | 0.28× | 1.74× |
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 | $45.1M |
| Free Cash FlowOCF − Capex | $103.8M | $28.5M |
| FCF MarginFCF / Revenue | 25.0% | 6.6% |
| Capex IntensityCapex / Revenue | 0.4% | 3.8% |
| Cash ConversionOCF / Net Profit | — | 1.52× |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $67.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $45.1M | ||
| Q3 25 | $96.9M | $49.6M | ||
| Q2 25 | $83.8M | $50.5M | ||
| Q1 25 | $99.5M | $-22.7M | ||
| Q4 24 | $78.7M | $74.7M | ||
| Q3 24 | $88.6M | $29.8M | ||
| Q2 24 | $78.6M | $27.2M | ||
| Q1 24 | $66.8M | $-12.3M |
| Q4 25 | $103.8M | $28.5M | ||
| Q3 25 | $95.6M | $37.6M | ||
| Q2 25 | $81.0M | $38.4M | ||
| Q1 25 | $98.4M | $-37.0M | ||
| Q4 24 | $78.3M | $56.1M | ||
| Q3 24 | $88.6M | $14.4M | ||
| Q2 24 | $78.4M | $10.1M | ||
| Q1 24 | $66.8M | $-38.6M |
| Q4 25 | 25.0% | 6.6% | ||
| Q3 25 | 24.1% | 7.7% | ||
| Q2 25 | 21.1% | 7.6% | ||
| Q1 25 | 27.5% | -8.1% | ||
| Q4 24 | 21.6% | 11.8% | ||
| Q3 24 | 24.7% | 2.6% | ||
| Q2 24 | 22.8% | 1.8% | ||
| Q1 24 | 20.7% | -7.8% |
| Q4 25 | 0.4% | 3.8% | ||
| Q3 25 | 0.3% | 2.5% | ||
| Q2 25 | 0.7% | 2.4% | ||
| Q1 25 | 0.3% | 3.1% | ||
| Q4 24 | 0.1% | 3.9% | ||
| Q3 24 | 0.0% | 2.8% | ||
| Q2 24 | 0.1% | 3.0% | ||
| Q1 24 | 0.0% | 5.3% |
| Q4 25 | — | 1.52× | ||
| Q3 25 | — | 2.08× | ||
| Q2 25 | — | 3.08× | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.35× | — | ||
| Q3 24 | 9.94× | 1.31× | ||
| Q2 24 | 10.35× | 1.01× | ||
| Q1 24 | 2.10× | -0.95× |
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% |
KOP
| Other | $127.8M | 30% |
| Railroad Treated Products | $119.0M | 28% |
| Utility Poles | $79.8M | 18% |
| Pitch And Related Products | $74.1M | 17% |
| Carbon Black Feedstock And Distillates | $14.4M | 3% |
| Railroad Infrastructure Products And Services | $9.9M | 2% |
| Phthalic Anhydride Naphthalene And Other Chemicals | $7.7M | 2% |
