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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and Mid-America Apartment Communities (MAA). Click either name above to swap in a different company.
Mid-America Apartment Communities is the larger business by last-quarter revenue ($553.7M vs $414.7M, roughly 1.3× BILL Holdings, Inc.). On growth, Mid-America Apartment Communities posted the faster year-over-year revenue change (438.7% vs 14.4%). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs 0.7%).
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.
Mid-America Apartment Communities, Inc. (MAA) is a publicly traded real estate investment trust based in Memphis, Tennessee that invests in apartments in the Southeastern United States and the Southwestern United States.
BILL vs MAA — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $553.7M |
| Net Profit | $-2.6M | — |
| Gross Margin | 79.8% | — |
| Operating Margin | -4.4% | — |
| Net Margin | -0.6% | — |
| Revenue YoY | 14.4% | 438.7% |
| Net Profit YoY | -107.7% | — |
| EPS (diluted) | $-0.03 | $4.34 |
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.
| Q1 26 | — | $553.7M | ||
| Q4 25 | $414.7M | $555.6M | ||
| Q3 25 | $395.7M | $554.4M | ||
| Q2 25 | $383.3M | $549.9M | ||
| Q1 25 | $358.2M | $549.3M | ||
| Q4 24 | $362.6M | $549.8M | ||
| Q3 24 | $358.4M | $551.1M | ||
| Q2 24 | $343.7M | $546.4M |
| Q1 26 | — | — | ||
| Q4 25 | $-2.6M | $57.6M | ||
| Q3 25 | $-3.0M | $99.5M | ||
| Q2 25 | $-7.1M | $108.1M | ||
| Q1 25 | $-11.6M | $181.7M | ||
| Q4 24 | $33.5M | $166.6M | ||
| Q3 24 | $8.9M | $115.2M | ||
| Q2 24 | $7.6M | $102.0M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | -4.4% | 10.4% | ||
| Q3 25 | -5.2% | 18.7% | ||
| Q2 25 | -5.8% | 20.2% | ||
| Q1 25 | -8.1% | 34.0% | ||
| Q4 24 | -6.0% | 31.3% | ||
| Q3 24 | -2.1% | 21.5% | ||
| Q2 24 | -6.5% | 19.3% |
| Q1 26 | — | — | ||
| Q4 25 | -0.6% | 10.4% | ||
| Q3 25 | -0.7% | 18.0% | ||
| Q2 25 | -1.8% | 19.7% | ||
| Q1 25 | -3.2% | 33.1% | ||
| Q4 24 | 9.3% | 30.3% | ||
| Q3 24 | 2.5% | 20.9% | ||
| Q2 24 | 2.2% | 18.7% |
| Q1 26 | — | $4.34 | ||
| Q4 25 | $-0.03 | $0.48 | ||
| Q3 25 | $-0.03 | $0.84 | ||
| Q2 25 | $0.02 | $0.92 | ||
| Q1 25 | $-0.11 | $1.54 | ||
| Q4 24 | $-0.06 | $1.43 | ||
| Q3 24 | $0.08 | $0.98 | ||
| Q2 24 | $0.37 | $0.86 |
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 | — |
| Stockholders' EquityBook value | $3.8B | — |
| Total Assets | $10.1B | — |
| Debt / EquityLower = less leverage | 0.48× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $60.3M | ||
| Q3 25 | $1.1B | $32.2M | ||
| Q2 25 | $1.0B | $54.5M | ||
| Q1 25 | $1.0B | $55.8M | ||
| Q4 24 | $1.6B | $43.0M | ||
| Q3 24 | $853.5M | $50.2M | ||
| Q2 24 | $985.9M | $62.8M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | $3.8B | $5.7B | ||
| Q3 25 | $3.9B | $5.8B | ||
| Q2 25 | $3.9B | $5.9B | ||
| Q1 25 | $3.9B | $5.9B | ||
| Q4 24 | $3.8B | $5.9B | ||
| Q3 24 | $4.0B | $5.9B | ||
| Q2 24 | $4.1B | $6.0B |
| Q1 26 | — | — | ||
| Q4 25 | $10.1B | $12.0B | ||
| Q3 25 | $10.2B | $11.9B | ||
| Q2 25 | $10.1B | $11.8B | ||
| Q1 25 | $9.6B | $11.8B | ||
| Q4 24 | $9.7B | $11.8B | ||
| Q3 24 | $9.0B | $11.8B | ||
| Q2 24 | $9.2B | $11.6B |
| Q1 26 | — | — | ||
| 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× | — |
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 | — |
| Free Cash FlowOCF − Capex | $103.8M | — |
| FCF MarginFCF / Revenue | 25.0% | — |
| Capex IntensityCapex / Revenue | 0.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $105.3M | $261.7M | ||
| Q3 25 | $96.9M | $266.4M | ||
| Q2 25 | $83.8M | $353.4M | ||
| Q1 25 | $99.5M | $196.6M | ||
| Q4 24 | $78.7M | $239.1M | ||
| Q3 24 | $88.6M | $309.5M | ||
| Q2 24 | $78.6M | $349.4M |
| Q1 26 | — | — | ||
| Q4 25 | $103.8M | $158.6M | ||
| Q3 25 | $95.6M | $170.8M | ||
| Q2 25 | $81.0M | $264.5M | ||
| Q1 25 | $98.4M | $124.0M | ||
| Q4 24 | $78.3M | $152.6M | ||
| Q3 24 | $88.6M | $215.5M | ||
| Q2 24 | $78.4M | $259.7M |
| Q1 26 | — | — | ||
| Q4 25 | 25.0% | 28.5% | ||
| Q3 25 | 24.1% | 30.8% | ||
| Q2 25 | 21.1% | 48.1% | ||
| Q1 25 | 27.5% | 22.6% | ||
| Q4 24 | 21.6% | 27.8% | ||
| Q3 24 | 24.7% | 39.1% | ||
| Q2 24 | 22.8% | 47.5% |
| Q1 26 | — | — | ||
| Q4 25 | 0.4% | 18.6% | ||
| Q3 25 | 0.3% | 17.2% | ||
| Q2 25 | 0.7% | 16.2% | ||
| Q1 25 | 0.3% | 13.2% | ||
| Q4 24 | 0.1% | 15.7% | ||
| Q3 24 | 0.0% | 17.1% | ||
| Q2 24 | 0.1% | 16.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.55× | ||
| Q3 25 | — | 2.68× | ||
| Q2 25 | — | 3.27× | ||
| Q1 25 | — | 1.08× | ||
| Q4 24 | 2.35× | 1.43× | ||
| Q3 24 | 9.94× | 2.69× | ||
| Q2 24 | 10.35× | 3.43× |
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% |
MAA
| Same Store Communities | $517.0M | 93% |
| Non-Same Store Communities | $22.1M | 4% |
| Lease-up/Development Communities | $7.7M | 1% |
| Commercial Property/Land | $7.0M | 1% |
