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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and Noble Corp plc (NE). Click either name above to swap in a different company.
Noble Corp plc is the larger business by last-quarter revenue ($764.4M vs $414.7M, roughly 1.8× BILL Holdings, Inc.). Noble Corp plc runs the higher net margin — 11.3% vs -0.6%, a 12.0% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs -17.6%). BILL Holdings, Inc. produced more free cash flow last quarter ($103.8M vs $35.4M). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs 9.5%).
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.
Barnes & Noble Booksellers is an American bookseller with the largest number of retail outlets in the United States. The company operates approximately 700+ retail stores across the United States.
BILL vs NE — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $764.4M |
| Net Profit | $-2.6M | $86.6M |
| Gross Margin | 79.8% | — |
| Operating Margin | -4.4% | 5.6% |
| Net Margin | -0.6% | 11.3% |
| Revenue YoY | 14.4% | -17.6% |
| Net Profit YoY | -107.7% | -10.4% |
| EPS (diluted) | $-0.03 | $0.54 |
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 | $764.4M | ||
| Q3 25 | $395.7M | $798.0M | ||
| Q2 25 | $383.3M | $848.7M | ||
| Q1 25 | $358.2M | $874.5M | ||
| Q4 24 | $362.6M | $927.3M | ||
| Q3 24 | $358.4M | $800.5M | ||
| Q2 24 | $343.7M | $692.8M | ||
| Q1 24 | $323.0M | $637.1M |
| Q4 25 | $-2.6M | $86.6M | ||
| Q3 25 | $-3.0M | $-21.1M | ||
| Q2 25 | $-7.1M | $42.9M | ||
| Q1 25 | $-11.6M | $108.3M | ||
| Q4 24 | $33.5M | $96.6M | ||
| Q3 24 | $8.9M | $61.2M | ||
| Q2 24 | $7.6M | $195.0M | ||
| Q1 24 | $31.8M | $95.5M |
| 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% | 5.6% | ||
| Q3 25 | -5.2% | 6.3% | ||
| Q2 25 | -5.8% | 15.9% | ||
| Q1 25 | -8.1% | 21.4% | ||
| Q4 24 | -6.0% | 18.4% | ||
| Q3 24 | -2.1% | 14.4% | ||
| Q2 24 | -6.5% | 30.3% | ||
| Q1 24 | -8.6% | 16.9% |
| Q4 25 | -0.6% | 11.3% | ||
| Q3 25 | -0.7% | -2.6% | ||
| Q2 25 | -1.8% | 5.1% | ||
| Q1 25 | -3.2% | 12.4% | ||
| Q4 24 | 9.3% | 10.4% | ||
| Q3 24 | 2.5% | 7.6% | ||
| Q2 24 | 2.2% | 28.1% | ||
| Q1 24 | 9.8% | 15.0% |
| Q4 25 | $-0.03 | $0.54 | ||
| Q3 25 | $-0.03 | $-0.13 | ||
| Q2 25 | $0.02 | $0.27 | ||
| Q1 25 | $-0.11 | $0.67 | ||
| Q4 24 | $-0.06 | $0.56 | ||
| Q3 24 | $0.08 | $0.40 | ||
| Q2 24 | $0.37 | $1.34 | ||
| Q1 24 | $0.00 | $0.66 |
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 | $471.4M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.8B | $4.5B |
| Total Assets | $10.1B | $7.5B |
| Debt / EquityLower = less leverage | 0.48× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $471.4M | ||
| Q3 25 | $1.1B | $477.9M | ||
| Q2 25 | $1.0B | $338.2M | ||
| Q1 25 | $1.0B | $303.8M | ||
| Q4 24 | $1.6B | $247.3M | ||
| Q3 24 | $853.5M | $391.9M | ||
| Q2 24 | $985.9M | $162.9M | ||
| Q1 24 | $952.5M | $212.5M |
| 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 | $4.5B | ||
| Q3 25 | $3.9B | $4.5B | ||
| Q2 25 | $3.9B | $4.6B | ||
| Q1 25 | $3.9B | $4.7B | ||
| Q4 24 | $3.8B | $4.7B | ||
| Q3 24 | $4.0B | $4.7B | ||
| Q2 24 | $4.1B | $4.0B | ||
| Q1 24 | $4.1B | $3.9B |
| Q4 25 | $10.1B | $7.5B | ||
| Q3 25 | $10.2B | $7.6B | ||
| Q2 25 | $10.1B | $7.7B | ||
| Q1 25 | $9.6B | $7.9B | ||
| Q4 24 | $9.7B | $8.0B | ||
| Q3 24 | $9.0B | $8.0B | ||
| Q2 24 | $9.2B | $5.6B | ||
| Q1 24 | $9.1B | $5.4B |
| 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 | $187.1M |
| Free Cash FlowOCF − Capex | $103.8M | $35.4M |
| FCF MarginFCF / Revenue | 25.0% | 4.6% |
| Capex IntensityCapex / Revenue | 0.4% | 19.9% |
| Cash ConversionOCF / Net Profit | — | 2.16× |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $432.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $187.1M | ||
| Q3 25 | $96.9M | $277.1M | ||
| Q2 25 | $83.8M | $216.4M | ||
| Q1 25 | $99.5M | $271.1M | ||
| Q4 24 | $78.7M | $136.2M | ||
| Q3 24 | $88.6M | $283.8M | ||
| Q2 24 | $78.6M | $106.8M | ||
| Q1 24 | $66.8M | $128.7M |
| Q4 25 | $103.8M | $35.4M | ||
| Q3 25 | $95.6M | $139.5M | ||
| Q2 25 | $81.0M | $99.8M | ||
| Q1 25 | $98.4M | $157.5M | ||
| Q4 24 | $78.3M | $-4.4M | ||
| Q3 24 | $88.6M | $156.8M | ||
| Q2 24 | $78.4M | $-34.3M | ||
| Q1 24 | $66.8M | $-37.9M |
| Q4 25 | 25.0% | 4.6% | ||
| Q3 25 | 24.1% | 17.5% | ||
| Q2 25 | 21.1% | 11.8% | ||
| Q1 25 | 27.5% | 18.0% | ||
| Q4 24 | 21.6% | -0.5% | ||
| Q3 24 | 24.7% | 19.6% | ||
| Q2 24 | 22.8% | -4.9% | ||
| Q1 24 | 20.7% | -6.0% |
| Q4 25 | 0.4% | 19.9% | ||
| Q3 25 | 0.3% | 17.3% | ||
| Q2 25 | 0.7% | 13.7% | ||
| Q1 25 | 0.3% | 13.0% | ||
| Q4 24 | 0.1% | 15.2% | ||
| Q3 24 | 0.0% | 15.9% | ||
| Q2 24 | 0.1% | 20.4% | ||
| Q1 24 | 0.0% | 26.2% |
| Q4 25 | — | 2.16× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 5.05× | ||
| Q1 25 | — | 2.50× | ||
| Q4 24 | 2.35× | 1.41× | ||
| Q3 24 | 9.94× | 4.64× | ||
| Q2 24 | 10.35× | 0.55× | ||
| Q1 24 | 2.10× | 1.35× |
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% |
NE
| Floaters | $559.8M | 73% |
| Jackups | $145.5M | 19% |
| Service Other | $59.1M | 8% |
