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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and New Fortress Energy Inc. (NFE). Click either name above to swap in a different company.
BILL Holdings, Inc. is the larger business by last-quarter revenue ($414.7M vs $326.2M, roughly 1.3× New Fortress Energy Inc.). BILL Holdings, Inc. runs the higher net margin — -0.6% vs -259.7%, a 259.0% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs -7.0%). BILL Holdings, Inc. produced more free cash flow last quarter ($103.8M vs $-134.8M). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs -26.8%).
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.
New Fortress Energy Inc. is a global energy infrastructure firm developing, owning and operating LNG import/export terminals, natural gas supply networks and low-carbon projects. It serves utility, industrial and public sector clients across the Americas and Caribbean, delivering affordable, lower-emission energy resources.
BILL vs NFE — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $326.2M |
| Net Profit | $-2.6M | $-847.1M |
| Gross Margin | 79.8% | 35.5% |
| Operating Margin | -4.4% | -193.0% |
| Net Margin | -0.6% | -259.7% |
| Revenue YoY | 14.4% | -7.0% |
| Net Profit YoY | -107.7% | -277.4% |
| EPS (diluted) | $-0.03 | $-3.03 |
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 | $326.2M | ||
| Q3 25 | $395.7M | $240.3M | ||
| Q2 25 | $383.3M | $228.1M | ||
| Q1 25 | $358.2M | $384.9M | ||
| Q4 24 | $362.6M | $350.7M | ||
| Q3 24 | $358.4M | $446.0M | ||
| Q2 24 | $343.7M | $291.2M | ||
| Q1 24 | $323.0M | $609.5M |
| Q4 25 | $-2.6M | $-847.1M | ||
| Q3 25 | $-3.0M | $-263.0M | ||
| Q2 25 | $-7.1M | $-546.5M | ||
| Q1 25 | $-11.6M | $-175.4M | ||
| Q4 24 | $33.5M | $-224.4M | ||
| Q3 24 | $8.9M | $9.3M | ||
| Q2 24 | $7.6M | $-88.9M | ||
| Q1 24 | $31.8M | $54.1M |
| Q4 25 | 79.8% | 35.5% | ||
| Q3 25 | 80.5% | 18.1% | ||
| Q2 25 | 80.8% | 8.4% | ||
| Q1 25 | 81.2% | 21.4% | ||
| Q4 24 | 81.6% | 17.6% | ||
| Q3 24 | 82.0% | 27.1% | ||
| Q2 24 | 81.0% | 23.8% | ||
| Q1 24 | 83.0% | 62.4% |
| Q4 25 | -4.4% | -193.0% | ||
| Q3 25 | -5.2% | -37.4% | ||
| Q2 25 | -5.8% | -170.3% | ||
| Q1 25 | -8.1% | -3.3% | ||
| Q4 24 | -6.0% | 65.0% | ||
| Q3 24 | -2.1% | 17.8% | ||
| Q2 24 | -6.5% | 12.3% | ||
| Q1 24 | -8.6% | 30.4% |
| Q4 25 | -0.6% | -259.7% | ||
| Q3 25 | -0.7% | -109.4% | ||
| Q2 25 | -1.8% | -239.6% | ||
| Q1 25 | -3.2% | -45.6% | ||
| Q4 24 | 9.3% | -64.0% | ||
| Q3 24 | 2.5% | 2.1% | ||
| Q2 24 | 2.2% | -30.5% | ||
| Q1 24 | 9.8% | 8.9% |
| Q4 25 | $-0.03 | $-3.03 | ||
| Q3 25 | $-0.03 | $-0.96 | ||
| Q2 25 | $0.02 | $-1.99 | ||
| Q1 25 | $-0.11 | $-0.65 | ||
| Q4 24 | $-0.06 | $-1.10 | ||
| Q3 24 | $0.08 | $0.03 | ||
| Q2 24 | $0.37 | $-0.42 | ||
| Q1 24 | $0.00 | $0.23 |
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 | $226.5M |
| Total DebtLower is stronger | $1.8B | $8.2B |
| Stockholders' EquityBook value | $3.8B | $182.6M |
| Total Assets | $10.1B | $10.6B |
| Debt / EquityLower = less leverage | 0.48× | 44.78× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $226.5M | ||
| Q3 25 | $1.1B | $145.2M | ||
| Q2 25 | $1.0B | $551.1M | ||
| Q1 25 | $1.0B | $447.9M | ||
| Q4 24 | $1.6B | $492.9M | ||
| Q3 24 | $853.5M | $90.8M | ||
| Q2 24 | $985.9M | $133.0M | ||
| Q1 24 | $952.5M | $143.5M |
| Q4 25 | $1.8B | $8.2B | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | $8.9B | ||
| Q3 24 | $914.8M | — | ||
| Q2 24 | $914.0M | — | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $3.8B | $182.6M | ||
| Q3 25 | $3.9B | $1.1B | ||
| Q2 25 | $3.9B | $1.3B | ||
| Q1 25 | $3.9B | $1.8B | ||
| Q4 24 | $3.8B | $1.9B | ||
| Q3 24 | $4.0B | $1.6B | ||
| Q2 24 | $4.1B | $1.6B | ||
| Q1 24 | $4.1B | $1.7B |
| Q4 25 | $10.1B | $10.6B | ||
| Q3 25 | $10.2B | $12.0B | ||
| Q2 25 | $10.1B | $12.0B | ||
| Q1 25 | $9.6B | $13.1B | ||
| Q4 24 | $9.7B | $12.9B | ||
| Q3 24 | $9.0B | $12.0B | ||
| Q2 24 | $9.2B | $11.4B | ||
| Q1 24 | $9.1B | $10.9B |
| Q4 25 | 0.48× | 44.78× | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.43× | — | ||
| Q4 24 | 0.44× | 4.74× | ||
| 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 | $-76.2M |
| Free Cash FlowOCF − Capex | $103.8M | $-134.8M |
| FCF MarginFCF / Revenue | 25.0% | -41.3% |
| Capex IntensityCapex / Revenue | 0.4% | 18.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $-76.2M | ||
| Q3 25 | $96.9M | $-171.0M | ||
| Q2 25 | $83.8M | $-329.0M | ||
| Q1 25 | $99.5M | $-7.2M | ||
| Q4 24 | $78.7M | $445.3M | ||
| Q3 24 | $88.6M | $-20.0M | ||
| Q2 24 | $78.6M | $113.9M | ||
| Q1 24 | $66.8M | $63.0M |
| Q4 25 | $103.8M | $-134.8M | ||
| Q3 25 | $95.6M | $-231.6M | ||
| Q2 25 | $81.0M | $-726.7M | ||
| Q1 25 | $98.4M | $-262.3M | ||
| Q4 24 | $78.3M | $-210.3M | ||
| Q3 24 | $88.6M | $-367.0M | ||
| Q2 24 | $78.4M | $-493.2M | ||
| Q1 24 | $66.8M | $-457.9M |
| Q4 25 | 25.0% | -41.3% | ||
| Q3 25 | 24.1% | -96.4% | ||
| Q2 25 | 21.1% | -318.6% | ||
| Q1 25 | 27.5% | -68.2% | ||
| Q4 24 | 21.6% | -60.0% | ||
| Q3 24 | 24.7% | -82.3% | ||
| Q2 24 | 22.8% | -169.3% | ||
| Q1 24 | 20.7% | -75.1% |
| Q4 25 | 0.4% | 18.0% | ||
| Q3 25 | 0.3% | 25.2% | ||
| Q2 25 | 0.7% | 174.4% | ||
| Q1 25 | 0.3% | 66.3% | ||
| Q4 24 | 0.1% | 187.0% | ||
| Q3 24 | 0.0% | 77.8% | ||
| Q2 24 | 0.1% | 208.4% | ||
| Q1 24 | 0.0% | 85.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.35× | — | ||
| Q3 24 | 9.94× | -2.15× | ||
| Q2 24 | 10.35× | — | ||
| Q1 24 | 2.10× | 1.16× |
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% |
NFE
Segment breakdown not available.
