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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and UDR, Inc. (UDR). Click either name above to swap in a different company.
UDR, Inc. is the larger business by last-quarter revenue ($425.8M vs $414.7M, roughly 1.0× BILL Holdings, Inc.). UDR, Inc. runs the higher net margin — 44.6% vs -0.6%, a 45.2% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs 0.9%). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs 1.3%).
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.
UDR, Inc. is a leading U.S.-headquartered real estate investment trust specializing in owning, operating, and redeveloping high-quality multifamily residential apartment communities. It operates across major U.S. metropolitan markets, catering to a diverse tenant base including young professionals, families, and middle-to-high income households.
BILL vs UDR — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $425.8M |
| Net Profit | $-2.6M | $189.8M |
| Gross Margin | 79.8% | — |
| Operating Margin | -4.4% | 54.0% |
| Net Margin | -0.6% | 44.6% |
| Revenue YoY | 14.4% | 0.9% |
| Net Profit YoY | -107.7% | 147.2% |
| EPS (diluted) | $-0.03 | $0.63 |
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.
| Q1 26 | — | $425.8M | ||
| Q4 25 | $414.7M | $433.1M | ||
| Q3 25 | $395.7M | $431.9M | ||
| Q2 25 | $383.3M | $425.4M | ||
| Q1 25 | $358.2M | $421.9M | ||
| Q4 24 | $362.6M | $422.7M | ||
| Q3 24 | $358.4M | $420.2M | ||
| Q2 24 | $343.7M | $415.3M |
| Q1 26 | — | $189.8M | ||
| Q4 25 | $-2.6M | $222.9M | ||
| Q3 25 | $-3.0M | $40.4M | ||
| Q2 25 | $-7.1M | $37.7M | ||
| Q1 25 | $-11.6M | $76.7M | ||
| Q4 24 | $33.5M | $-5.0M | ||
| Q3 24 | $8.9M | $22.6M | ||
| Q2 24 | $7.6M | $28.9M |
| Q1 26 | — | — | ||
| 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 26 | — | 54.0% | ||
| Q4 25 | -4.4% | 64.1% | ||
| Q3 25 | -5.2% | 17.7% | ||
| Q2 25 | -5.8% | 18.2% | ||
| Q1 25 | -8.1% | 29.0% | ||
| Q4 24 | -6.0% | 15.7% | ||
| Q3 24 | -2.1% | 16.6% | ||
| Q2 24 | -6.5% | 16.5% |
| Q1 26 | — | 44.6% | ||
| Q4 25 | -0.6% | 51.5% | ||
| Q3 25 | -0.7% | 9.4% | ||
| Q2 25 | -1.8% | 8.9% | ||
| Q1 25 | -3.2% | 18.2% | ||
| Q4 24 | 9.3% | -220.5% | ||
| Q3 24 | 2.5% | 5.4% | ||
| Q2 24 | 2.2% | 7.0% |
| Q1 26 | — | $0.63 | ||
| Q4 25 | $-0.03 | $0.67 | ||
| Q3 25 | $-0.03 | $0.12 | ||
| Q2 25 | $0.02 | $0.11 | ||
| Q1 25 | $-0.11 | $0.23 | ||
| Q4 24 | $-0.06 | $-0.01 | ||
| Q3 24 | $0.08 | $0.06 | ||
| Q2 24 | $0.37 | $0.08 |
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 | $1.3M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.8B | $3.3B |
| Total Assets | $10.1B | $10.3B |
| Debt / EquityLower = less leverage | 0.48× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.3M | ||
| Q4 25 | $1.1B | $1.2M | ||
| Q3 25 | $1.1B | $1.2M | ||
| Q2 25 | $1.0B | $1.5M | ||
| Q1 25 | $1.0B | $1.3M | ||
| Q4 24 | $1.6B | $1.3M | ||
| Q3 24 | $853.5M | $2.3M | ||
| Q2 24 | $985.9M | $2.8M |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $5.8B | ||
| Q3 25 | $1.9B | $5.8B | ||
| Q2 25 | $1.7B | $5.8B | ||
| Q1 25 | $1.7B | $5.8B | ||
| Q4 24 | $1.7B | $5.8B | ||
| Q3 24 | $914.8M | $5.9B | ||
| Q2 24 | $914.0M | $5.8B |
| Q1 26 | — | $3.3B | ||
| Q4 25 | $3.8B | $3.3B | ||
| Q3 25 | $3.9B | $3.3B | ||
| Q2 25 | $3.9B | $3.3B | ||
| Q1 25 | $3.9B | $3.3B | ||
| Q4 24 | $3.8B | $3.4B | ||
| Q3 24 | $4.0B | $3.5B | ||
| Q2 24 | $4.1B | $3.7B |
| Q1 26 | — | $10.3B | ||
| Q4 25 | $10.1B | $10.6B | ||
| Q3 25 | $10.2B | $10.6B | ||
| Q2 25 | $10.1B | $10.6B | ||
| Q1 25 | $9.6B | $10.7B | ||
| Q4 24 | $9.7B | $10.9B | ||
| Q3 24 | $9.0B | $11.1B | ||
| Q2 24 | $9.2B | $11.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.48× | 1.77× | ||
| Q3 25 | 0.48× | 1.78× | ||
| Q2 25 | 0.44× | 1.74× | ||
| Q1 25 | 0.43× | 1.74× | ||
| Q4 24 | 0.44× | 1.69× | ||
| Q3 24 | 0.23× | 1.67× | ||
| Q2 24 | 0.22× | 1.55× |
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 | — |
| Free Cash FlowOCF − Capex | $103.8M | — |
| FCF MarginFCF / Revenue | 25.0% | — |
| Capex IntensityCapex / Revenue | 0.4% | 4.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $105.3M | $902.9M | ||
| Q3 25 | $96.9M | $234.9M | ||
| Q2 25 | $83.8M | $250.3M | ||
| Q1 25 | $99.5M | $156.2M | ||
| Q4 24 | $78.7M | $876.8M | ||
| Q3 24 | $88.6M | $230.3M | ||
| Q2 24 | $78.6M | $238.5M |
| Q1 26 | — | — | ||
| Q4 25 | $103.8M | $650.0M | ||
| Q3 25 | $95.6M | $164.6M | ||
| Q2 25 | $81.0M | $190.1M | ||
| Q1 25 | $98.4M | $103.2M | ||
| Q4 24 | $78.3M | $627.0M | ||
| Q3 24 | $88.6M | $161.3M | ||
| Q2 24 | $78.4M | $171.1M |
| Q1 26 | — | — | ||
| Q4 25 | 25.0% | 150.1% | ||
| Q3 25 | 24.1% | 38.1% | ||
| Q2 25 | 21.1% | 44.7% | ||
| Q1 25 | 27.5% | 24.5% | ||
| Q4 24 | 21.6% | 148.3% | ||
| Q3 24 | 24.7% | 38.4% | ||
| Q2 24 | 22.8% | 41.2% |
| Q1 26 | — | 4.9% | ||
| Q4 25 | 0.4% | 58.4% | ||
| Q3 25 | 0.3% | 16.3% | ||
| Q2 25 | 0.7% | 14.2% | ||
| Q1 25 | 0.3% | 12.6% | ||
| Q4 24 | 0.1% | 59.1% | ||
| Q3 24 | 0.0% | 16.4% | ||
| Q2 24 | 0.1% | 16.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.05× | ||
| Q3 25 | — | 5.81× | ||
| Q2 25 | — | 6.64× | ||
| Q1 25 | — | 2.04× | ||
| Q4 24 | 2.35× | — | ||
| Q3 24 | 9.94× | 10.19× | ||
| Q2 24 | 10.35× | 8.26× |
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% |
UDR
| Rental income | $423.3M | 99% |
| Joint venture management and other fees | $2.5M | 1% |
