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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and Pediatrix Medical Group, Inc. (MD). Click either name above to swap in a different company.
Pediatrix Medical Group, Inc. is the larger business by last-quarter revenue ($493.8M vs $414.7M, roughly 1.2× BILL Holdings, Inc.). Pediatrix Medical Group, Inc. runs the higher net margin — 6.8% vs -0.6%, a 7.4% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs -1.7%). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs -0.1%).
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.
Pediatrix Medical Group, Inc. is a leading U.S. specialized medical service provider focusing on maternal-fetal care, neonatology, pediatric cardiology and other pediatric subspecialties. It partners with U.S. healthcare facilities to deliver evidence-based care to women, newborns and children.
BILL vs MD — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $493.8M |
| Net Profit | $-2.6M | $33.7M |
| Gross Margin | 79.8% | — |
| Operating Margin | -4.4% | 9.9% |
| Net Margin | -0.6% | 6.8% |
| Revenue YoY | 14.4% | -1.7% |
| Net Profit YoY | -107.7% | 10.5% |
| EPS (diluted) | $-0.03 | $0.40 |
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 | $493.8M | ||
| Q3 25 | $395.7M | $492.9M | ||
| Q2 25 | $383.3M | $468.8M | ||
| Q1 25 | $358.2M | $458.4M | ||
| Q4 24 | $362.6M | $502.4M | ||
| Q3 24 | $358.4M | $511.2M | ||
| Q2 24 | $343.7M | $504.3M | ||
| Q1 24 | $323.0M | $495.1M |
| Q4 25 | $-2.6M | $33.7M | ||
| Q3 25 | $-3.0M | $71.7M | ||
| Q2 25 | $-7.1M | $39.3M | ||
| Q1 25 | $-11.6M | $20.7M | ||
| Q4 24 | $33.5M | $30.5M | ||
| Q3 24 | $8.9M | $19.4M | ||
| Q2 24 | $7.6M | $-153.0M | ||
| Q1 24 | $31.8M | $4.0M |
| 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% | 9.9% | ||
| Q3 25 | -5.2% | 13.8% | ||
| Q2 25 | -5.8% | 12.8% | ||
| Q1 25 | -8.1% | 7.0% | ||
| Q4 24 | -6.0% | 7.8% | ||
| Q3 24 | -2.1% | 6.6% | ||
| Q2 24 | -6.5% | -31.3% | ||
| Q1 24 | -8.6% | 3.2% |
| Q4 25 | -0.6% | 6.8% | ||
| Q3 25 | -0.7% | 14.5% | ||
| Q2 25 | -1.8% | 8.4% | ||
| Q1 25 | -3.2% | 4.5% | ||
| Q4 24 | 9.3% | 6.1% | ||
| Q3 24 | 2.5% | 3.8% | ||
| Q2 24 | 2.2% | -30.3% | ||
| Q1 24 | 9.8% | 0.8% |
| Q4 25 | $-0.03 | $0.40 | ||
| Q3 25 | $-0.03 | $0.84 | ||
| Q2 25 | $0.02 | $0.46 | ||
| Q1 25 | $-0.11 | $0.24 | ||
| Q4 24 | $-0.06 | $0.37 | ||
| Q3 24 | $0.08 | $0.23 | ||
| Q2 24 | $0.37 | $-1.84 | ||
| Q1 24 | $0.00 | $0.05 |
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 | $375.2M |
| Total DebtLower is stronger | $1.8B | $570.5M |
| Stockholders' EquityBook value | $3.8B | $865.9M |
| Total Assets | $10.1B | $2.2B |
| Debt / EquityLower = less leverage | 0.48× | 0.66× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $375.2M | ||
| Q3 25 | $1.1B | $340.1M | ||
| Q2 25 | $1.0B | $224.7M | ||
| Q1 25 | $1.0B | $99.0M | ||
| Q4 24 | $1.6B | $229.9M | ||
| Q3 24 | $853.5M | $103.8M | ||
| Q2 24 | $985.9M | $19.4M | ||
| Q1 24 | $952.5M | $8.0M |
| Q4 25 | $1.8B | $570.5M | ||
| Q3 25 | $1.9B | $577.2M | ||
| Q2 25 | $1.7B | $583.9M | ||
| Q1 25 | $1.7B | $590.5M | ||
| Q4 24 | $1.7B | $597.1M | ||
| Q3 24 | $914.8M | — | ||
| Q2 24 | $914.0M | — | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $3.8B | $865.9M | ||
| Q3 25 | $3.9B | $890.7M | ||
| Q2 25 | $3.9B | $833.8M | ||
| Q1 25 | $3.9B | $789.2M | ||
| Q4 24 | $3.8B | $764.9M | ||
| Q3 24 | $4.0B | $732.5M | ||
| Q2 24 | $4.1B | $706.5M | ||
| Q1 24 | $4.1B | $856.2M |
| Q4 25 | $10.1B | $2.2B | ||
| Q3 25 | $10.2B | $2.2B | ||
| Q2 25 | $10.1B | $2.1B | ||
| Q1 25 | $9.6B | $2.0B | ||
| Q4 24 | $9.7B | $2.2B | ||
| Q3 24 | $9.0B | $2.1B | ||
| Q2 24 | $9.2B | $2.0B | ||
| Q1 24 | $9.1B | $2.2B |
| Q4 25 | 0.48× | 0.66× | ||
| Q3 25 | 0.48× | 0.65× | ||
| Q2 25 | 0.44× | 0.70× | ||
| Q1 25 | 0.43× | 0.75× | ||
| Q4 24 | 0.44× | 0.78× | ||
| 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 | $114.1M |
| Free Cash FlowOCF − Capex | $103.8M | — |
| FCF MarginFCF / Revenue | 25.0% | — |
| Capex IntensityCapex / Revenue | 0.4% | — |
| Cash ConversionOCF / Net Profit | — | 3.39× |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $114.1M | ||
| Q3 25 | $96.9M | $137.3M | ||
| Q2 25 | $83.8M | $137.2M | ||
| Q1 25 | $99.5M | $-117.5M | ||
| Q4 24 | $78.7M | $133.0M | ||
| Q3 24 | $88.6M | $91.8M | ||
| Q2 24 | $78.6M | $107.0M | ||
| Q1 24 | $66.8M | $-125.2M |
| Q4 25 | $103.8M | — | ||
| Q3 25 | $95.6M | — | ||
| Q2 25 | $81.0M | — | ||
| Q1 25 | $98.4M | — | ||
| Q4 24 | $78.3M | — | ||
| Q3 24 | $88.6M | — | ||
| Q2 24 | $78.4M | — | ||
| Q1 24 | $66.8M | — |
| Q4 25 | 25.0% | — | ||
| Q3 25 | 24.1% | — | ||
| Q2 25 | 21.1% | — | ||
| Q1 25 | 27.5% | — | ||
| Q4 24 | 21.6% | — | ||
| Q3 24 | 24.7% | — | ||
| Q2 24 | 22.8% | — | ||
| Q1 24 | 20.7% | — |
| Q4 25 | 0.4% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.1% | — | ||
| Q1 24 | 0.0% | — |
| Q4 25 | — | 3.39× | ||
| Q3 25 | — | 1.91× | ||
| Q2 25 | — | 3.49× | ||
| Q1 25 | — | -5.66× | ||
| Q4 24 | 2.35× | 4.36× | ||
| Q3 24 | 9.94× | 4.72× | ||
| Q2 24 | 10.35× | — | ||
| Q1 24 | 2.10× | -31.03× |
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% |
MD
| Health Care Patient Service | $421.6M | 85% |
| Hospitals Contracts | $70.0M | 14% |
| Other | $2.2M | 0% |
