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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and PRA GROUP INC (PRAA). Click either name above to swap in a different company.
BILL Holdings, Inc. is the larger business by last-quarter revenue ($414.7M vs $333.4M, roughly 1.2× PRA GROUP INC). PRA GROUP INC runs the higher net margin — 17.0% vs -0.6%, a 17.6% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs 13.7%). BILL Holdings, Inc. produced more free cash flow last quarter ($103.8M vs $-90.4M). Over the past eight quarters, PRA GROUP INC's revenue compounded faster (14.2% CAGR vs 13.3%).
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.
PRA Group, Inc. is a publicly traded debt buyer and debt collection company based in Norfolk, Virginia. The company buys delinquent consumer debt from credit card issuers and other financial institutions at a discount and pursues collection of the full debt owed. Founded in 1996, PRA Group employs more than 3200 people in 18 countries.
BILL vs PRAA — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $333.4M |
| Net Profit | $-2.6M | $56.5M |
| Gross Margin | 79.8% | — |
| Operating Margin | -4.4% | 37.7% |
| Net Margin | -0.6% | 17.0% |
| Revenue YoY | 14.4% | 13.7% |
| Net Profit YoY | -107.7% | 206.3% |
| EPS (diluted) | $-0.03 | $1.47 |
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 | $333.4M | ||
| Q3 25 | $395.7M | $311.1M | ||
| Q2 25 | $383.3M | $287.7M | ||
| Q1 25 | $358.2M | $269.6M | ||
| Q4 24 | $362.6M | $293.2M | ||
| Q3 24 | $358.4M | $281.5M | ||
| Q2 24 | $343.7M | $284.2M | ||
| Q1 24 | $323.0M | $255.6M |
| Q4 25 | $-2.6M | $56.5M | ||
| Q3 25 | $-3.0M | $-407.7M | ||
| Q2 25 | $-7.1M | $42.4M | ||
| Q1 25 | $-11.6M | $3.7M | ||
| Q4 24 | $33.5M | $18.5M | ||
| Q3 24 | $8.9M | $27.2M | ||
| Q2 24 | $7.6M | $21.5M | ||
| Q1 24 | $31.8M | $3.5M |
| 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% | 37.7% | ||
| Q3 25 | -5.2% | -101.4% | ||
| Q2 25 | -5.8% | 29.6% | ||
| Q1 25 | -8.1% | 27.7% | ||
| Q4 24 | -6.0% | 32.1% | ||
| Q3 24 | -2.1% | 32.0% | ||
| Q2 24 | -6.5% | 31.4% | ||
| Q1 24 | -8.6% | 26.0% |
| Q4 25 | -0.6% | 17.0% | ||
| Q3 25 | -0.7% | -131.0% | ||
| Q2 25 | -1.8% | 14.7% | ||
| Q1 25 | -3.2% | 1.4% | ||
| Q4 24 | 9.3% | 6.3% | ||
| Q3 24 | 2.5% | 9.6% | ||
| Q2 24 | 2.2% | 7.6% | ||
| Q1 24 | 9.8% | 1.4% |
| Q4 25 | $-0.03 | $1.47 | ||
| Q3 25 | $-0.03 | $-10.43 | ||
| Q2 25 | $0.02 | $1.08 | ||
| Q1 25 | $-0.11 | $0.09 | ||
| Q4 24 | $-0.06 | $0.47 | ||
| Q3 24 | $0.08 | $0.69 | ||
| Q2 24 | $0.37 | $0.54 | ||
| Q1 24 | $0.00 | $0.09 |
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 | $104.4M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.8B | $979.9M |
| Total Assets | $10.1B | $5.1B |
| Debt / EquityLower = less leverage | 0.48× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $104.4M | ||
| Q3 25 | $1.1B | $107.5M | ||
| Q2 25 | $1.0B | $131.6M | ||
| Q1 25 | $1.0B | $128.7M | ||
| Q4 24 | $1.6B | $105.9M | ||
| Q3 24 | $853.5M | $141.1M | ||
| Q2 24 | $985.9M | $118.9M | ||
| Q1 24 | $952.5M | $108.1M |
| 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 | $979.9M | ||
| Q3 25 | $3.9B | $928.5M | ||
| Q2 25 | $3.9B | $1.3B | ||
| Q1 25 | $3.9B | $1.2B | ||
| Q4 24 | $3.8B | $1.1B | ||
| Q3 24 | $4.0B | $1.2B | ||
| Q2 24 | $4.1B | $1.1B | ||
| Q1 24 | $4.1B | $1.1B |
| Q4 25 | $10.1B | $5.1B | ||
| Q3 25 | $10.2B | $5.0B | ||
| Q2 25 | $10.1B | $5.4B | ||
| Q1 25 | $9.6B | $5.1B | ||
| Q4 24 | $9.7B | $4.9B | ||
| Q3 24 | $9.0B | $4.9B | ||
| Q2 24 | $9.2B | $4.7B | ||
| Q1 24 | $9.1B | $4.5B |
| 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 | $-85.5M |
| Free Cash FlowOCF − Capex | $103.8M | $-90.4M |
| FCF MarginFCF / Revenue | 25.0% | -27.1% |
| Capex IntensityCapex / Revenue | 0.4% | 1.4% |
| Cash ConversionOCF / Net Profit | — | -1.51× |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $-169.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $-85.5M | ||
| Q3 25 | $96.9M | $-10.1M | ||
| Q2 25 | $83.8M | $-12.9M | ||
| Q1 25 | $99.5M | $-52.6M | ||
| Q4 24 | $78.7M | $-94.6M | ||
| Q3 24 | $88.6M | $-35.0M | ||
| Q2 24 | $78.6M | $-29.5M | ||
| Q1 24 | $66.8M | $-73.0M |
| Q4 25 | $103.8M | $-90.4M | ||
| Q3 25 | $95.6M | $-11.3M | ||
| Q2 25 | $81.0M | $-14.2M | ||
| Q1 25 | $98.4M | $-53.5M | ||
| Q4 24 | $78.3M | $-98.6M | ||
| Q3 24 | $88.6M | $-36.1M | ||
| Q2 24 | $78.4M | $-30.8M | ||
| Q1 24 | $66.8M | $-73.5M |
| Q4 25 | 25.0% | -27.1% | ||
| Q3 25 | 24.1% | -3.6% | ||
| Q2 25 | 21.1% | -4.9% | ||
| Q1 25 | 27.5% | -19.8% | ||
| Q4 24 | 21.6% | -33.6% | ||
| Q3 24 | 24.7% | -12.8% | ||
| Q2 24 | 22.8% | -10.8% | ||
| Q1 24 | 20.7% | -28.8% |
| Q4 25 | 0.4% | 1.4% | ||
| Q3 25 | 0.3% | 0.4% | ||
| Q2 25 | 0.7% | 0.4% | ||
| Q1 25 | 0.3% | 0.3% | ||
| Q4 24 | 0.1% | 1.4% | ||
| Q3 24 | 0.0% | 0.4% | ||
| Q2 24 | 0.1% | 0.5% | ||
| Q1 24 | 0.0% | 0.2% |
| Q4 25 | — | -1.51× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.30× | ||
| Q1 25 | — | -14.37× | ||
| Q4 24 | 2.35× | -5.13× | ||
| Q3 24 | 9.94× | -1.29× | ||
| Q2 24 | 10.35× | -1.37× | ||
| Q1 24 | 2.10× | -21.01× |
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% |
PRAA
| GB | $170.1M | 51% |
| Other | $163.3M | 49% |
