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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and Grand Canyon Education, Inc. (LOPE). Click either name above to swap in a different company.
BILL Holdings, Inc. is the larger business by last-quarter revenue ($414.7M vs $308.1M, roughly 1.3× Grand Canyon Education, Inc.). Grand Canyon Education, Inc. runs the higher net margin — 28.1% vs -0.6%, a 28.8% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs 5.3%). Grand Canyon Education, Inc. produced more free cash flow last quarter ($122.9M vs $103.8M). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs 5.9%).
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.
Grand Canyon Education, Inc. (GCE) is an American for-profit corporation that provides services to universities, specializing in program development, online education, and operational support. Formerly affiliated with Grand Canyon University (GCU), a Christian university in Arizona, GCE became a separate publicly traded company in 2008.
BILL vs LOPE — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $308.1M |
| Net Profit | $-2.6M | $86.7M |
| Gross Margin | 79.8% | — |
| Operating Margin | -4.4% | 35.1% |
| Net Margin | -0.6% | 28.1% |
| Revenue YoY | 14.4% | 5.3% |
| Net Profit YoY | -107.7% | 5.9% |
| EPS (diluted) | $-0.03 | $3.13 |
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 | $308.1M | ||
| Q3 25 | $395.7M | $261.1M | ||
| Q2 25 | $383.3M | $247.5M | ||
| Q1 25 | $358.2M | $289.3M | ||
| Q4 24 | $362.6M | $292.6M | ||
| Q3 24 | $358.4M | $238.3M | ||
| Q2 24 | $343.7M | $227.5M | ||
| Q1 24 | $323.0M | $274.7M |
| Q4 25 | $-2.6M | $86.7M | ||
| Q3 25 | $-3.0M | $16.3M | ||
| Q2 25 | $-7.1M | $41.5M | ||
| Q1 25 | $-11.6M | $71.6M | ||
| Q4 24 | $33.5M | $81.9M | ||
| Q3 24 | $8.9M | $41.5M | ||
| Q2 24 | $7.6M | $34.9M | ||
| Q1 24 | $31.8M | $68.0M |
| 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% | 35.1% | ||
| Q3 25 | -5.2% | 6.9% | ||
| Q2 25 | -5.8% | 20.9% | ||
| Q1 25 | -8.1% | 30.4% | ||
| Q4 24 | -6.0% | 34.2% | ||
| Q3 24 | -2.1% | 20.2% | ||
| Q2 24 | -6.5% | 18.8% | ||
| Q1 24 | -8.6% | 30.8% |
| Q4 25 | -0.6% | 28.1% | ||
| Q3 25 | -0.7% | 6.2% | ||
| Q2 25 | -1.8% | 16.8% | ||
| Q1 25 | -3.2% | 24.8% | ||
| Q4 24 | 9.3% | 28.0% | ||
| Q3 24 | 2.5% | 17.4% | ||
| Q2 24 | 2.2% | 15.3% | ||
| Q1 24 | 9.8% | 24.8% |
| Q4 25 | $-0.03 | $3.13 | ||
| Q3 25 | $-0.03 | $0.58 | ||
| Q2 25 | $0.02 | $1.48 | ||
| Q1 25 | $-0.11 | $2.52 | ||
| Q4 24 | $-0.06 | $2.83 | ||
| Q3 24 | $0.08 | $1.42 | ||
| Q2 24 | $0.37 | $1.19 | ||
| Q1 24 | $0.00 | $2.29 |
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 | $111.8M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.8B | $746.9M |
| Total Assets | $10.1B | $992.3M |
| Debt / EquityLower = less leverage | 0.48× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $111.8M | ||
| Q3 25 | $1.1B | $97.3M | ||
| Q2 25 | $1.0B | $192.3M | ||
| Q1 25 | $1.0B | $144.5M | ||
| Q4 24 | $1.6B | $324.6M | ||
| Q3 24 | $853.5M | $263.6M | ||
| Q2 24 | $985.9M | $241.3M | ||
| Q1 24 | $952.5M | $196.2M |
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $914.8M | — | ||
| Q2 24 | $914.0M | — | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $3.8B | $746.9M | ||
| Q3 25 | $3.9B | $758.0M | ||
| Q2 25 | $3.9B | $778.0M | ||
| Q1 25 | $3.9B | $780.7M | ||
| Q4 24 | $3.8B | $783.9M | ||
| Q3 24 | $4.0B | $764.1M | ||
| Q2 24 | $4.1B | $759.2M | ||
| Q1 24 | $4.1B | $759.4M |
| Q4 25 | $10.1B | $992.3M | ||
| Q3 25 | $10.2B | $1.0B | ||
| Q2 25 | $10.1B | $1.0B | ||
| Q1 25 | $9.6B | $1.0B | ||
| Q4 24 | $9.7B | $1.0B | ||
| Q3 24 | $9.0B | $992.9M | ||
| Q2 24 | $9.2B | $992.7M | ||
| Q1 24 | $9.1B | $1.0B |
| Q4 25 | 0.48× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.43× | — | ||
| Q4 24 | 0.44× | — | ||
| 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 | $130.5M |
| Free Cash FlowOCF − Capex | $103.8M | $122.9M |
| FCF MarginFCF / Revenue | 25.0% | 39.9% |
| Capex IntensityCapex / Revenue | 0.4% | 2.5% |
| Cash ConversionOCF / Net Profit | — | 1.50× |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $238.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $130.5M | ||
| Q3 25 | $96.9M | $-48.6M | ||
| Q2 25 | $83.8M | $124.0M | ||
| Q1 25 | $99.5M | $67.6M | ||
| Q4 24 | $78.7M | $135.8M | ||
| Q3 24 | $88.6M | $-29.4M | ||
| Q2 24 | $78.6M | $98.6M | ||
| Q1 24 | $66.8M | $85.0M |
| Q4 25 | $103.8M | $122.9M | ||
| Q3 25 | $95.6M | $-58.3M | ||
| Q2 25 | $81.0M | $115.4M | ||
| Q1 25 | $98.4M | $58.7M | ||
| Q4 24 | $78.3M | $126.1M | ||
| Q3 24 | $88.6M | $-39.0M | ||
| Q2 24 | $78.4M | $89.6M | ||
| Q1 24 | $66.8M | $76.0M |
| Q4 25 | 25.0% | 39.9% | ||
| Q3 25 | 24.1% | -22.3% | ||
| Q2 25 | 21.1% | 46.6% | ||
| Q1 25 | 27.5% | 20.3% | ||
| Q4 24 | 21.6% | 43.1% | ||
| Q3 24 | 24.7% | -16.3% | ||
| Q2 24 | 22.8% | 39.4% | ||
| Q1 24 | 20.7% | 27.7% |
| Q4 25 | 0.4% | 2.5% | ||
| Q3 25 | 0.3% | 3.7% | ||
| Q2 25 | 0.7% | 3.5% | ||
| Q1 25 | 0.3% | 3.1% | ||
| Q4 24 | 0.1% | 3.3% | ||
| Q3 24 | 0.0% | 4.0% | ||
| Q2 24 | 0.1% | 3.9% | ||
| Q1 24 | 0.0% | 3.3% |
| Q4 25 | — | 1.50× | ||
| Q3 25 | — | -2.99× | ||
| Q2 25 | — | 2.98× | ||
| Q1 25 | — | 0.94× | ||
| Q4 24 | 2.35× | 1.66× | ||
| Q3 24 | 9.94× | -0.71× | ||
| Q2 24 | 10.35× | 2.83× | ||
| Q1 24 | 2.10× | 1.25× |
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% |
LOPE
Segment breakdown not available.
