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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and Construction Partners, Inc. (ROAD). Click either name above to swap in a different company.
Construction Partners, Inc. is the larger business by last-quarter revenue ($809.5M vs $414.7M, roughly 2.0× BILL Holdings, Inc.). Construction Partners, Inc. runs the higher net margin — 2.1% vs -0.6%, a 2.7% gap on every dollar of revenue. On growth, Construction Partners, Inc. posted the faster year-over-year revenue change (44.1% vs 14.4%). BILL Holdings, Inc. produced more free cash flow last quarter ($103.8M vs $47.1M). Over the past eight quarters, Construction Partners, Inc.'s revenue compounded faster (47.6% 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.
Alexander Construction Company was a Palm Springs, California, residential development company that built over 2,200 houses in the Coachella Valley of Riverside County, California, between 1955 and 1965.
BILL vs ROAD — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $809.5M |
| Net Profit | $-2.6M | $17.2M |
| Gross Margin | 79.8% | 15.0% |
| Operating Margin | -4.4% | 6.2% |
| Net Margin | -0.6% | 2.1% |
| Revenue YoY | 14.4% | 44.1% |
| Net Profit YoY | -107.7% | 663.9% |
| EPS (diluted) | $-0.03 | $0.31 |
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 | $809.5M | ||
| Q3 25 | $395.7M | $899.8M | ||
| Q2 25 | $383.3M | $779.3M | ||
| Q1 25 | $358.2M | $571.6M | ||
| Q4 24 | $362.6M | $561.6M | ||
| Q3 24 | $358.4M | $538.2M | ||
| Q2 24 | $343.7M | $517.8M | ||
| Q1 24 | $323.0M | $371.4M |
| Q4 25 | $-2.6M | $17.2M | ||
| Q3 25 | $-3.0M | $56.6M | ||
| Q2 25 | $-7.1M | $44.0M | ||
| Q1 25 | $-11.6M | $4.2M | ||
| Q4 24 | $33.5M | $-3.1M | ||
| Q3 24 | $8.9M | $29.3M | ||
| Q2 24 | $7.6M | $30.9M | ||
| Q1 24 | $31.8M | $-1.1M |
| Q4 25 | 79.8% | 15.0% | ||
| Q3 25 | 80.5% | 17.7% | ||
| Q2 25 | 80.8% | 16.9% | ||
| Q1 25 | 81.2% | 12.5% | ||
| Q4 24 | 81.6% | 13.6% | ||
| Q3 24 | 82.0% | 15.6% | ||
| Q2 24 | 81.0% | 16.1% | ||
| Q1 24 | 83.0% | 10.4% |
| Q4 25 | -4.4% | 6.2% | ||
| Q3 25 | -5.2% | 11.2% | ||
| Q2 25 | -5.8% | 10.6% | ||
| Q1 25 | -8.1% | 4.8% | ||
| Q4 24 | -6.0% | 2.5% | ||
| Q3 24 | -2.1% | 8.5% | ||
| Q2 24 | -6.5% | 8.8% | ||
| Q1 24 | -8.6% | 0.8% |
| Q4 25 | -0.6% | 2.1% | ||
| Q3 25 | -0.7% | 6.3% | ||
| Q2 25 | -1.8% | 5.7% | ||
| Q1 25 | -3.2% | 0.7% | ||
| Q4 24 | 9.3% | -0.5% | ||
| Q3 24 | 2.5% | 5.4% | ||
| Q2 24 | 2.2% | 6.0% | ||
| Q1 24 | 9.8% | -0.3% |
| Q4 25 | $-0.03 | $0.31 | ||
| Q3 25 | $-0.03 | $1.03 | ||
| Q2 25 | $0.02 | $0.79 | ||
| Q1 25 | $-0.11 | $0.08 | ||
| Q4 24 | $-0.06 | $-0.06 | ||
| Q3 24 | $0.08 | $0.55 | ||
| Q2 24 | $0.37 | $0.59 | ||
| Q1 24 | $0.00 | $-0.02 |
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 | $104.1M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.8B | $969.1M |
| Total Assets | $10.1B | $3.4B |
| Debt / EquityLower = less leverage | 0.48× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $104.1M | ||
| Q3 25 | $1.1B | $156.1M | ||
| Q2 25 | $1.0B | $114.3M | ||
| Q1 25 | $1.0B | $101.9M | ||
| Q4 24 | $1.6B | $132.5M | ||
| Q3 24 | $853.5M | $74.7M | ||
| Q2 24 | $985.9M | $56.3M | ||
| Q1 24 | $952.5M | $48.0M |
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.9B | $1.6B | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $914.8M | $515.0M | ||
| Q2 24 | $914.0M | — | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $3.8B | $969.1M | ||
| Q3 25 | $3.9B | $912.0M | ||
| Q2 25 | $3.9B | $853.3M | ||
| Q1 25 | $3.9B | $807.9M | ||
| Q4 24 | $3.8B | $811.1M | ||
| Q3 24 | $4.0B | $573.7M | ||
| Q2 24 | $4.1B | $552.9M | ||
| Q1 24 | $4.1B | $525.0M |
| Q4 25 | $10.1B | $3.4B | ||
| Q3 25 | $10.2B | $3.2B | ||
| Q2 25 | $10.1B | $2.9B | ||
| Q1 25 | $9.6B | $2.8B | ||
| Q4 24 | $9.7B | $2.6B | ||
| Q3 24 | $9.0B | $1.5B | ||
| Q2 24 | $9.2B | $1.4B | ||
| Q1 24 | $9.1B | $1.3B |
| Q4 25 | 0.48× | — | ||
| Q3 25 | 0.48× | 1.78× | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.43× | — | ||
| Q4 24 | 0.44× | — | ||
| Q3 24 | 0.23× | 0.90× | ||
| 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 | $82.6M |
| Free Cash FlowOCF − Capex | $103.8M | $47.1M |
| FCF MarginFCF / Revenue | 25.0% | 5.8% |
| Capex IntensityCapex / Revenue | 0.4% | 4.4% |
| Cash ConversionOCF / Net Profit | — | 4.80× |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $186.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $82.6M | ||
| Q3 25 | $96.9M | $112.0M | ||
| Q2 25 | $83.8M | $83.0M | ||
| Q1 25 | $99.5M | $55.6M | ||
| Q4 24 | $78.7M | $40.7M | ||
| Q3 24 | $88.6M | $95.9M | ||
| Q2 24 | $78.6M | $34.6M | ||
| Q1 24 | $66.8M | $18.2M |
| Q4 25 | $103.8M | $47.1M | ||
| Q3 25 | $95.6M | $78.9M | ||
| Q2 25 | $81.0M | $46.4M | ||
| Q1 25 | $98.4M | $14.2M | ||
| Q4 24 | $78.3M | $13.8M | ||
| Q3 24 | $88.6M | $78.4M | ||
| Q2 24 | $78.4M | $19.7M | ||
| Q1 24 | $66.8M | $-10.6M |
| Q4 25 | 25.0% | 5.8% | ||
| Q3 25 | 24.1% | 8.8% | ||
| Q2 25 | 21.1% | 5.9% | ||
| Q1 25 | 27.5% | 2.5% | ||
| Q4 24 | 21.6% | 2.5% | ||
| Q3 24 | 24.7% | 14.6% | ||
| Q2 24 | 22.8% | 3.8% | ||
| Q1 24 | 20.7% | -2.8% |
| Q4 25 | 0.4% | 4.4% | ||
| Q3 25 | 0.3% | 3.7% | ||
| Q2 25 | 0.7% | 4.7% | ||
| Q1 25 | 0.3% | 7.2% | ||
| Q4 24 | 0.1% | 4.8% | ||
| Q3 24 | 0.0% | 3.3% | ||
| Q2 24 | 0.1% | 2.9% | ||
| Q1 24 | 0.0% | 7.7% |
| Q4 25 | — | 4.80× | ||
| Q3 25 | — | 1.98× | ||
| Q2 25 | — | 1.88× | ||
| Q1 25 | — | 13.20× | ||
| Q4 24 | 2.35× | — | ||
| Q3 24 | 9.94× | 3.27× | ||
| Q2 24 | 10.35× | 1.12× | ||
| 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% |
ROAD
Segment breakdown not available.
