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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and loanDepot, Inc. (LDI). Click either name above to swap in a different company.
BILL Holdings, Inc. is the larger business by last-quarter revenue ($414.7M vs $310.3M, roughly 1.3× loanDepot, Inc.). BILL Holdings, Inc. runs the higher net margin — -0.6% vs -7.2%, a 6.6% gap on every dollar of revenue. On growth, loanDepot, Inc. posted the faster year-over-year revenue change (20.5% vs 14.4%). BILL Holdings, Inc. produced more free cash flow last quarter ($103.8M vs $-648.0M). Over the past eight quarters, loanDepot, Inc.'s revenue compounded faster (18.0% 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.
LoanDepot, sometimes stylized as loanDepot, is an Irvine, California-based nonbank holding company which sells mortgage and non-mortgage lending products.
BILL vs LDI — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $310.3M |
| Net Profit | $-2.6M | $-22.5M |
| Gross Margin | 79.8% | — |
| Operating Margin | -4.4% | -10.3% |
| Net Margin | -0.6% | -7.2% |
| Revenue YoY | 14.4% | 20.5% |
| Net Profit YoY | -107.7% | 32.4% |
| EPS (diluted) | $-0.03 | — |
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 | $310.3M | ||
| Q3 25 | $395.7M | $323.3M | ||
| Q2 25 | $383.3M | $282.5M | ||
| Q1 25 | $358.2M | $273.6M | ||
| Q4 24 | $362.6M | $257.5M | ||
| Q3 24 | $358.4M | $314.6M | ||
| Q2 24 | $343.7M | $265.4M | ||
| Q1 24 | $323.0M | $222.8M |
| Q4 25 | $-2.6M | $-22.5M | ||
| Q3 25 | $-3.0M | $-4.9M | ||
| Q2 25 | $-7.1M | $-13.4M | ||
| Q1 25 | $-11.6M | $-21.9M | ||
| Q4 24 | $33.5M | $-33.2M | ||
| Q3 24 | $8.9M | $1.4M | ||
| Q2 24 | $7.6M | $-32.2M | ||
| Q1 24 | $31.8M | $-34.3M |
| 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% | -10.3% | ||
| Q3 25 | -5.2% | -3.2% | ||
| Q2 25 | -5.8% | -11.4% | ||
| Q1 25 | -8.1% | -16.8% | ||
| Q4 24 | -6.0% | -32.7% | ||
| Q3 24 | -2.1% | 1.1% | ||
| Q2 24 | -6.5% | -29.1% | ||
| Q1 24 | -8.6% | -38.2% |
| Q4 25 | -0.6% | -7.2% | ||
| Q3 25 | -0.7% | -1.5% | ||
| Q2 25 | -1.8% | -4.7% | ||
| Q1 25 | -3.2% | -8.0% | ||
| Q4 24 | 9.3% | -12.9% | ||
| Q3 24 | 2.5% | 0.4% | ||
| Q2 24 | 2.2% | -12.1% | ||
| Q1 24 | 9.8% | -15.4% |
| Q4 25 | $-0.03 | — | ||
| Q3 25 | $-0.03 | — | ||
| Q2 25 | $0.02 | — | ||
| Q1 25 | $-0.11 | — | ||
| Q4 24 | $-0.06 | — | ||
| Q3 24 | $0.08 | $0.01 | ||
| Q2 24 | $0.37 | $-0.18 | ||
| Q1 24 | $0.00 | $-0.19 |
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 | $337.2M |
| Total DebtLower is stronger | $1.8B | $2.1B |
| Stockholders' EquityBook value | $3.8B | $386.0M |
| Total Assets | $10.1B | $6.9B |
| Debt / EquityLower = less leverage | 0.48× | 5.44× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $337.2M | ||
| Q3 25 | $1.1B | $459.2M | ||
| Q2 25 | $1.0B | $408.6M | ||
| Q1 25 | $1.0B | $371.5M | ||
| Q4 24 | $1.6B | $421.6M | ||
| Q3 24 | $853.5M | $483.0M | ||
| Q2 24 | $985.9M | $533.2M | ||
| Q1 24 | $952.5M | $603.7M |
| Q4 25 | $1.8B | $2.1B | ||
| Q3 25 | $1.9B | $2.1B | ||
| Q2 25 | $1.7B | $2.1B | ||
| Q1 25 | $1.7B | $2.0B | ||
| Q4 24 | $1.7B | $2.0B | ||
| Q3 24 | $914.8M | $2.0B | ||
| Q2 24 | $914.0M | $2.0B | ||
| Q1 24 | $1.1B | $2.3B |
| Q4 25 | $3.8B | $386.0M | ||
| Q3 25 | $3.9B | $433.3M | ||
| Q2 25 | $3.9B | $439.1M | ||
| Q1 25 | $3.9B | $469.3M | ||
| Q4 24 | $3.8B | $506.6M | ||
| Q3 24 | $4.0B | $592.0M | ||
| Q2 24 | $4.1B | $578.9M | ||
| Q1 24 | $4.1B | $637.3M |
| Q4 25 | $10.1B | $6.9B | ||
| Q3 25 | $10.2B | $6.2B | ||
| Q2 25 | $10.1B | $6.2B | ||
| Q1 25 | $9.6B | $6.4B | ||
| Q4 24 | $9.7B | $6.3B | ||
| Q3 24 | $9.0B | $6.4B | ||
| Q2 24 | $9.2B | $5.9B | ||
| Q1 24 | $9.1B | $6.2B |
| Q4 25 | 0.48× | 5.44× | ||
| Q3 25 | 0.48× | 4.83× | ||
| Q2 25 | 0.44× | 4.70× | ||
| Q1 25 | 0.43× | 4.30× | ||
| Q4 24 | 0.44× | 4.00× | ||
| Q3 24 | 0.23× | 3.31× | ||
| Q2 24 | 0.22× | 3.41× | ||
| Q1 24 | 0.28× | 3.63× |
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 | $-638.7M |
| Free Cash FlowOCF − Capex | $103.8M | $-648.0M |
| FCF MarginFCF / Revenue | 25.0% | -208.9% |
| Capex IntensityCapex / Revenue | 0.4% | 3.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $-734.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $-638.7M | ||
| Q3 25 | $96.9M | $43.4M | ||
| Q2 25 | $83.8M | $67.6M | ||
| Q1 25 | $99.5M | $-179.9M | ||
| Q4 24 | $78.7M | $47.7M | ||
| Q3 24 | $88.6M | $-349.2M | ||
| Q2 24 | $78.6M | $-278.3M | ||
| Q1 24 | $66.8M | $-278.5M |
| Q4 25 | $103.8M | $-648.0M | ||
| Q3 25 | $95.6M | $38.7M | ||
| Q2 25 | $81.0M | $61.4M | ||
| Q1 25 | $98.4M | $-186.7M | ||
| Q4 24 | $78.3M | $40.8M | ||
| Q3 24 | $88.6M | $-356.4M | ||
| Q2 24 | $78.4M | $-285.7M | ||
| Q1 24 | $66.8M | $-283.3M |
| Q4 25 | 25.0% | -208.9% | ||
| Q3 25 | 24.1% | 12.0% | ||
| Q2 25 | 21.1% | 21.7% | ||
| Q1 25 | 27.5% | -68.2% | ||
| Q4 24 | 21.6% | 15.8% | ||
| Q3 24 | 24.7% | -113.3% | ||
| Q2 24 | 22.8% | -107.7% | ||
| Q1 24 | 20.7% | -127.2% |
| Q4 25 | 0.4% | 3.0% | ||
| Q3 25 | 0.3% | 1.5% | ||
| Q2 25 | 0.7% | 2.2% | ||
| Q1 25 | 0.3% | 2.5% | ||
| Q4 24 | 0.1% | 2.7% | ||
| Q3 24 | 0.0% | 2.3% | ||
| Q2 24 | 0.1% | 2.8% | ||
| Q1 24 | 0.0% | 2.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.35× | — | ||
| Q3 24 | 9.94× | -255.05× | ||
| Q2 24 | 10.35× | — | ||
| 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% |
LDI
Segment breakdown not available.
