vs
Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and MEDICAL PROPERTIES TRUST INC (MPW). Click either name above to swap in a different company.
BILL Holdings, Inc. is the larger business by last-quarter revenue ($414.7M vs $270.3M, roughly 1.5× MEDICAL PROPERTIES TRUST INC). MEDICAL PROPERTIES TRUST INC runs the higher net margin — 6.5% vs -0.6%, a 7.1% gap on every dollar of revenue. On growth, MEDICAL PROPERTIES TRUST INC posted the faster year-over-year revenue change (16.6% vs 14.4%). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs -0.2%).
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.
Medical Properties Trust, Inc. (MPT) is an international real estate investment trust (REIT) based in Birmingham, Alabama that purchases and invests in healthcare facilities and for-profit healthcare holding companies, primarily in the United States and Europe. Their property acquisitions often come in the form of sale-leaseback agreements, in which the original property owner sells the property to MPT and becomes their tenant. MPT's tenants are generally subject to long-term triple net lease...
BILL vs MPW — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $270.3M |
| Net Profit | $-2.6M | $17.6M |
| Gross Margin | 79.8% | 95.8% |
| Operating Margin | -4.4% | 9.7% |
| Net Margin | -0.6% | 6.5% |
| Revenue YoY | 14.4% | 16.6% |
| Net Profit YoY | -107.7% | 104.3% |
| EPS (diluted) | $-0.03 | $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 | $270.3M | ||
| Q3 25 | $395.7M | $237.5M | ||
| Q2 25 | $383.3M | $240.4M | ||
| Q1 25 | $358.2M | $223.8M | ||
| Q4 24 | $362.6M | $231.8M | ||
| Q3 24 | $358.4M | $225.8M | ||
| Q2 24 | $343.7M | $266.6M | ||
| Q1 24 | $323.0M | $271.3M |
| Q4 25 | $-2.6M | $17.6M | ||
| Q3 25 | $-3.0M | $-77.7M | ||
| Q2 25 | $-7.1M | $-98.4M | ||
| Q1 25 | $-11.6M | $-118.3M | ||
| Q4 24 | $33.5M | $-412.3M | ||
| Q3 24 | $8.9M | $-801.2M | ||
| Q2 24 | $7.6M | $-320.6M | ||
| Q1 24 | $31.8M | $-875.6M |
| Q4 25 | 79.8% | 95.8% | ||
| Q3 25 | 80.5% | — | ||
| Q2 25 | 80.8% | 91.8% | ||
| Q1 25 | 81.2% | 63.6% | ||
| Q4 24 | 81.6% | 90.9% | ||
| Q3 24 | 82.0% | 96.5% | ||
| Q2 24 | 81.0% | 98.4% | ||
| Q1 24 | 83.0% | 84.9% |
| Q4 25 | -4.4% | 9.7% | ||
| Q3 25 | -5.2% | -28.0% | ||
| Q2 25 | -5.8% | -36.7% | ||
| Q1 25 | -8.1% | -48.5% | ||
| Q4 24 | -6.0% | -173.7% | ||
| Q3 24 | -2.1% | -350.7% | ||
| Q2 24 | -6.5% | -114.5% | ||
| Q1 24 | -8.6% | -318.6% |
| Q4 25 | -0.6% | 6.5% | ||
| Q3 25 | -0.7% | -32.7% | ||
| Q2 25 | -1.8% | -40.9% | ||
| Q1 25 | -3.2% | -52.8% | ||
| Q4 24 | 9.3% | -177.8% | ||
| Q3 24 | 2.5% | -354.8% | ||
| Q2 24 | 2.2% | -120.3% | ||
| Q1 24 | 9.8% | -322.7% |
| Q4 25 | $-0.03 | $0.03 | ||
| Q3 25 | $-0.03 | $-0.13 | ||
| Q2 25 | $0.02 | $-0.16 | ||
| Q1 25 | $-0.11 | $-0.20 | ||
| Q4 24 | $-0.06 | $-0.68 | ||
| Q3 24 | $0.08 | $-1.34 | ||
| Q2 24 | $0.37 | $-0.54 | ||
| Q1 24 | $0.00 | $-1.46 |
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 | $540.9M |
| Total DebtLower is stronger | $1.8B | $9.7B |
| Stockholders' EquityBook value | $3.8B | $4.6B |
| Total Assets | $10.1B | $15.0B |
| Debt / EquityLower = less leverage | 0.48× | 2.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $540.9M | ||
| Q3 25 | $1.1B | $396.6M | ||
| Q2 25 | $1.0B | $509.8M | ||
| Q1 25 | $1.0B | $673.5M | ||
| Q4 24 | $1.6B | $332.3M | ||
| Q3 24 | $853.5M | $275.6M | ||
| Q2 24 | $985.9M | $606.5M | ||
| Q1 24 | $952.5M | $224.3M |
| Q4 25 | $1.8B | $9.7B | ||
| Q3 25 | $1.9B | $9.6B | ||
| Q2 25 | $1.7B | $9.6B | ||
| Q1 25 | $1.7B | $9.5B | ||
| Q4 24 | $1.7B | $8.8B | ||
| Q3 24 | $914.8M | $9.2B | ||
| Q2 24 | $914.0M | $9.4B | ||
| Q1 24 | $1.1B | $10.1B |
| Q4 25 | $3.8B | $4.6B | ||
| Q3 25 | $3.9B | $4.7B | ||
| Q2 25 | $3.9B | $4.8B | ||
| Q1 25 | $3.9B | $4.8B | ||
| Q4 24 | $3.8B | $4.8B | ||
| Q3 24 | $4.0B | $5.4B | ||
| Q2 24 | $4.1B | $6.2B | ||
| Q1 24 | $4.1B | $6.7B |
| Q4 25 | $10.1B | $15.0B | ||
| Q3 25 | $10.2B | $14.9B | ||
| Q2 25 | $10.1B | $15.2B | ||
| Q1 25 | $9.6B | $14.9B | ||
| Q4 24 | $9.7B | $14.3B | ||
| Q3 24 | $9.0B | $15.2B | ||
| Q2 24 | $9.2B | $16.2B | ||
| Q1 24 | $9.1B | $17.3B |
| Q4 25 | 0.48× | 2.11× | ||
| Q3 25 | 0.48× | 2.06× | ||
| Q2 25 | 0.44× | 2.00× | ||
| Q1 25 | 0.43× | 1.99× | ||
| Q4 24 | 0.44× | 1.83× | ||
| Q3 24 | 0.23× | 1.69× | ||
| Q2 24 | 0.22× | 1.51× | ||
| Q1 24 | 0.28× | 1.51× |
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 | $230.8M |
| Free Cash FlowOCF − Capex | $103.8M | — |
| FCF MarginFCF / Revenue | 25.0% | — |
| Capex IntensityCapex / Revenue | 0.4% | — |
| Cash ConversionOCF / Net Profit | — | 13.11× |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $230.8M | ||
| Q3 25 | $96.9M | $18.6M | ||
| Q2 25 | $83.8M | $51.7M | ||
| Q1 25 | $99.5M | $384.0K | ||
| Q4 24 | $78.7M | $245.5M | ||
| Q3 24 | $88.6M | $59.2M | ||
| Q2 24 | $78.6M | $35.3M | ||
| Q1 24 | $66.8M | $74.3M |
| 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 | — | 13.11× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.35× | — | ||
| Q3 24 | 9.94× | — | ||
| 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% |
MPW
Segment breakdown not available.
