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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and Metallus Inc. (MTUS). Click either name above to swap in a different company.
BILL Holdings, Inc. is the larger business by last-quarter revenue ($414.7M vs $267.3M, roughly 1.6× Metallus Inc.). BILL Holdings, Inc. runs the higher net margin — -0.6% vs -5.3%, a 4.7% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs 11.1%). BILL Holdings, Inc. produced more free cash flow last quarter ($103.8M vs $-37.2M). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs -8.8%).
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.
BILL vs MTUS — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $267.3M |
| Net Profit | $-2.6M | $-14.3M |
| Gross Margin | 79.8% | 2.2% |
| Operating Margin | -4.4% | -7.7% |
| Net Margin | -0.6% | -5.3% |
| Revenue YoY | 14.4% | 11.1% |
| Net Profit YoY | -107.7% | 33.2% |
| EPS (diluted) | $-0.03 | $-0.34 |
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.
| Q4 25 | $414.7M | $267.3M | ||
| Q3 25 | $395.7M | $305.9M | ||
| Q2 25 | $383.3M | $304.6M | ||
| Q1 25 | $358.2M | $280.5M | ||
| Q4 24 | $362.6M | $240.5M | ||
| Q3 24 | $358.4M | $227.2M | ||
| Q2 24 | $343.7M | $294.7M | ||
| Q1 24 | $323.0M | $321.6M |
| Q4 25 | $-2.6M | $-14.3M | ||
| Q3 25 | $-3.0M | $8.1M | ||
| Q2 25 | $-7.1M | $3.7M | ||
| Q1 25 | $-11.6M | $1.3M | ||
| Q4 24 | $33.5M | $-21.4M | ||
| Q3 24 | $8.9M | $-5.9M | ||
| Q2 24 | $7.6M | $4.6M | ||
| Q1 24 | $31.8M | $24.0M |
| Q4 25 | 79.8% | 2.2% | ||
| Q3 25 | 80.5% | 11.4% | ||
| Q2 25 | 80.8% | 10.6% | ||
| Q1 25 | 81.2% | 7.8% | ||
| Q4 24 | 81.6% | 4.5% | ||
| Q3 24 | 82.0% | 5.3% | ||
| Q2 24 | 81.0% | 8.2% | ||
| Q1 24 | 83.0% | 15.7% |
| Q4 25 | -4.4% | -7.7% | ||
| Q3 25 | -5.2% | 3.6% | ||
| Q2 25 | -5.8% | 2.8% | ||
| Q1 25 | -8.1% | 1.0% | ||
| Q4 24 | -6.0% | -10.1% | ||
| Q3 24 | -2.1% | -3.1% | ||
| Q2 24 | -6.5% | 2.1% | ||
| Q1 24 | -8.6% | 9.3% |
| Q4 25 | -0.6% | -5.3% | ||
| Q3 25 | -0.7% | 2.6% | ||
| Q2 25 | -1.8% | 1.2% | ||
| Q1 25 | -3.2% | 0.5% | ||
| Q4 24 | 9.3% | -8.9% | ||
| Q3 24 | 2.5% | -2.6% | ||
| Q2 24 | 2.2% | 1.6% | ||
| Q1 24 | 9.8% | 7.5% |
| Q4 25 | $-0.03 | $-0.34 | ||
| Q3 25 | $-0.03 | $0.19 | ||
| Q2 25 | $0.02 | $0.09 | ||
| Q1 25 | $-0.11 | $0.03 | ||
| Q4 24 | $-0.06 | $-0.46 | ||
| Q3 24 | $0.08 | $-0.13 | ||
| Q2 24 | $0.37 | $0.10 | ||
| Q1 24 | $0.00 | $0.52 |
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 | $156.7M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.8B | $686.0M |
| Total Assets | $10.1B | $1.1B |
| Debt / EquityLower = less leverage | 0.48× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $156.7M | ||
| Q3 25 | $1.1B | $191.5M | ||
| Q2 25 | $1.0B | $190.8M | ||
| Q1 25 | $1.0B | $180.3M | ||
| Q4 24 | $1.6B | $240.7M | ||
| Q3 24 | $853.5M | $254.6M | ||
| Q2 24 | $985.9M | $272.8M | ||
| Q1 24 | $952.5M | $278.1M |
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.9B | $0 | ||
| Q2 25 | $1.7B | $0 | ||
| Q1 25 | $1.7B | $5.4M | ||
| Q4 24 | $1.7B | $5.4M | ||
| Q3 24 | $914.8M | $13.2M | ||
| Q2 24 | $914.0M | $13.2M | ||
| Q1 24 | $1.1B | $13.2M |
| Q4 25 | $3.8B | $686.0M | ||
| Q3 25 | $3.9B | $697.7M | ||
| Q2 25 | $3.9B | $690.0M | ||
| Q1 25 | $3.9B | $686.1M | ||
| Q4 24 | $3.8B | $690.5M | ||
| Q3 24 | $4.0B | $712.7M | ||
| Q2 24 | $4.1B | $736.3M | ||
| Q1 24 | $4.1B | $739.3M |
| Q4 25 | $10.1B | $1.1B | ||
| Q3 25 | $10.2B | $1.2B | ||
| Q2 25 | $10.1B | $1.1B | ||
| Q1 25 | $9.6B | $1.1B | ||
| Q4 24 | $9.7B | $1.1B | ||
| Q3 24 | $9.0B | $1.1B | ||
| Q2 24 | $9.2B | $1.1B | ||
| Q1 24 | $9.1B | $1.2B |
| Q4 25 | 0.48× | — | ||
| Q3 25 | 0.48× | 0.00× | ||
| Q2 25 | 0.44× | 0.00× | ||
| Q1 25 | 0.43× | 0.01× | ||
| Q4 24 | 0.44× | 0.01× | ||
| Q3 24 | 0.23× | 0.02× | ||
| Q2 24 | 0.22× | 0.02× | ||
| Q1 24 | 0.28× | 0.02× |
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 | $-1.9M |
| Free Cash FlowOCF − Capex | $103.8M | $-37.2M |
| FCF MarginFCF / Revenue | 25.0% | -13.9% |
| Capex IntensityCapex / Revenue | 0.4% | 13.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $-93.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $-1.9M | ||
| Q3 25 | $96.9M | $22.0M | ||
| Q2 25 | $83.8M | $34.8M | ||
| Q1 25 | $99.5M | $-38.9M | ||
| Q4 24 | $78.7M | $13.9M | ||
| Q3 24 | $88.6M | $-15.3M | ||
| Q2 24 | $78.6M | $8.3M | ||
| Q1 24 | $66.8M | $33.4M |
| Q4 25 | $103.8M | $-37.2M | ||
| Q3 25 | $95.6M | $-6.4M | ||
| Q2 25 | $81.0M | $17.0M | ||
| Q1 25 | $98.4M | $-66.4M | ||
| Q4 24 | $78.3M | $-1.3M | ||
| Q3 24 | $88.6M | $-32.9M | ||
| Q2 24 | $78.4M | $-5.8M | ||
| Q1 24 | $66.8M | $16.0M |
| Q4 25 | 25.0% | -13.9% | ||
| Q3 25 | 24.1% | -2.1% | ||
| Q2 25 | 21.1% | 5.6% | ||
| Q1 25 | 27.5% | -23.7% | ||
| Q4 24 | 21.6% | -0.5% | ||
| Q3 24 | 24.7% | -14.5% | ||
| Q2 24 | 22.8% | -2.0% | ||
| Q1 24 | 20.7% | 5.0% |
| Q4 25 | 0.4% | 13.2% | ||
| Q3 25 | 0.3% | 9.3% | ||
| Q2 25 | 0.7% | 5.8% | ||
| Q1 25 | 0.3% | 9.8% | ||
| Q4 24 | 0.1% | 6.3% | ||
| Q3 24 | 0.0% | 7.7% | ||
| Q2 24 | 0.1% | 4.8% | ||
| Q1 24 | 0.0% | 5.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.72× | ||
| Q2 25 | — | 9.41× | ||
| Q1 25 | — | -29.92× | ||
| Q4 24 | 2.35× | — | ||
| Q3 24 | 9.94× | — | ||
| Q2 24 | 10.35× | 1.80× | ||
| Q1 24 | 2.10× | 1.39× |
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% |
MTUS
| Industrial Market Sector | $95.3M | 36% |
| Manufactured Components | $67.8M | 25% |
| Aerospace And Defense | $39.6M | 15% |
| Seamless Mechanical Tubing | $31.3M | 12% |
| Energy Market Sector | $18.3M | 7% |
| Other | $11.3M | 4% |
| Other Market Sector | $3.7M | 1% |
