vs
Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and NCR Voyix Corp (VYX). Click either name above to swap in a different company.
NCR Voyix Corp is the larger business by last-quarter revenue ($720.0M vs $414.7M, roughly 1.7× BILL Holdings, Inc.). NCR Voyix Corp runs the higher net margin — 13.6% vs -0.6%, a 14.2% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs 6.2%). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs 0.7%).
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.
NCR Voyix Corporation, previously known as NCR Corporation and National Cash Register, is a global software, consulting and technology company providing several professional services and electronic products. It manufactured self-service kiosks, point-of-sale terminals, automated teller machines, check processing systems, and barcode scanners.
BILL vs VYX — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $720.0M |
| Net Profit | $-2.6M | $98.0M |
| Gross Margin | 79.8% | — |
| Operating Margin | -4.4% | 2.4% |
| Net Margin | -0.6% | 13.6% |
| Revenue YoY | 14.4% | 6.2% |
| Net Profit YoY | -107.7% | 990.9% |
| EPS (diluted) | $-0.03 | $0.64 |
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 | $720.0M | ||
| Q3 25 | $395.7M | $684.0M | ||
| Q2 25 | $383.3M | $666.0M | ||
| Q1 25 | $358.2M | $617.0M | ||
| Q4 24 | $362.6M | $678.0M | ||
| Q3 24 | $358.4M | $708.0M | ||
| Q2 24 | $343.7M | $722.0M | ||
| Q1 24 | $323.0M | $710.0M |
| Q4 25 | $-2.6M | $98.0M | ||
| Q3 25 | $-3.0M | $-19.0M | ||
| Q2 25 | $-7.1M | $0 | ||
| Q1 25 | $-11.6M | $-17.0M | ||
| Q4 24 | $33.5M | $-11.0M | ||
| Q3 24 | $8.9M | $1.1B | ||
| Q2 24 | $7.6M | $-73.0M | ||
| Q1 24 | $31.8M | $-40.0M |
| Q4 25 | 79.8% | — | ||
| Q3 25 | 80.5% | — | ||
| Q2 25 | 80.8% | — | ||
| Q1 25 | 81.2% | — | ||
| Q4 24 | 81.6% | — | ||
| Q3 24 | 82.0% | 23.4% | ||
| Q2 24 | 81.0% | 17.5% | ||
| Q1 24 | 83.0% | 19.4% |
| Q4 25 | -4.4% | 2.4% | ||
| Q3 25 | -5.2% | 2.2% | ||
| Q2 25 | -5.8% | 2.1% | ||
| Q1 25 | -8.1% | -3.2% | ||
| Q4 24 | -6.0% | -0.1% | ||
| Q3 24 | -2.1% | 2.3% | ||
| Q2 24 | -6.5% | -4.7% | ||
| Q1 24 | -8.6% | -2.7% |
| Q4 25 | -0.6% | 13.6% | ||
| Q3 25 | -0.7% | -2.8% | ||
| Q2 25 | -1.8% | — | ||
| Q1 25 | -3.2% | -2.8% | ||
| Q4 24 | 9.3% | -1.6% | ||
| Q3 24 | 2.5% | 152.8% | ||
| Q2 24 | 2.2% | -10.1% | ||
| Q1 24 | 9.8% | -5.6% |
| Q4 25 | $-0.03 | $0.64 | ||
| Q3 25 | $-0.03 | $-0.16 | ||
| Q2 25 | $0.02 | $-0.03 | ||
| Q1 25 | $-0.11 | $-0.15 | ||
| Q4 24 | $-0.06 | $-0.05 | ||
| Q3 24 | $0.08 | $7.41 | ||
| Q2 24 | $0.37 | $-0.53 | ||
| Q1 24 | $0.00 | $-0.31 |
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 | $231.0M |
| Total DebtLower is stronger | $1.8B | $1.1B |
| Stockholders' EquityBook value | $3.8B | $948.0M |
| Total Assets | $10.1B | $3.9B |
| Debt / EquityLower = less leverage | 0.48× | 1.17× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $231.0M | ||
| Q3 25 | $1.1B | $282.0M | ||
| Q2 25 | $1.0B | $276.0M | ||
| Q1 25 | $1.0B | $573.0M | ||
| Q4 24 | $1.6B | $722.0M | ||
| Q3 24 | $853.5M | $792.0M | ||
| Q2 24 | $985.9M | $203.0M | ||
| Q1 24 | $952.5M | $241.0M |
| Q4 25 | $1.8B | $1.1B | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | $1.1B | ||
| Q3 24 | $914.8M | — | ||
| Q2 24 | $914.0M | — | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $3.8B | $948.0M | ||
| Q3 25 | $3.9B | $848.0M | ||
| Q2 25 | $3.9B | $867.0M | ||
| Q1 25 | $3.9B | $857.0M | ||
| Q4 24 | $3.8B | $933.0M | ||
| Q3 24 | $4.0B | $1.0B | ||
| Q2 24 | $4.1B | $-85.0M | ||
| Q1 24 | $4.1B | $-34.0M |
| Q4 25 | $10.1B | $3.9B | ||
| Q3 25 | $10.2B | $4.0B | ||
| Q2 25 | $10.1B | $4.0B | ||
| Q1 25 | $9.6B | $4.3B | ||
| Q4 24 | $9.7B | $4.5B | ||
| Q3 24 | $9.0B | $4.7B | ||
| Q2 24 | $9.2B | $4.8B | ||
| Q1 24 | $9.1B | $5.0B |
| Q4 25 | 0.48× | 1.17× | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.43× | — | ||
| Q4 24 | 0.44× | 1.18× | ||
| 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 | $60.0M |
| Free Cash FlowOCF − Capex | $103.8M | — |
| FCF MarginFCF / Revenue | 25.0% | — |
| Capex IntensityCapex / Revenue | 0.4% | — |
| Cash ConversionOCF / Net Profit | — | 0.61× |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $60.0M | ||
| Q3 25 | $96.9M | $14.0M | ||
| Q2 25 | $83.8M | $-242.0M | ||
| Q1 25 | $99.5M | $-42.0M | ||
| Q4 24 | $78.7M | $-170.0M | ||
| Q3 24 | $88.6M | $11.0M | ||
| Q2 24 | $78.6M | $62.0M | ||
| Q1 24 | $66.8M | $-35.0M |
| Q4 25 | $103.8M | — | ||
| Q3 25 | $95.6M | $10.0M | ||
| Q2 25 | $81.0M | $-249.0M | ||
| Q1 25 | $98.4M | $-50.0M | ||
| Q4 24 | $78.3M | $-177.0M | ||
| Q3 24 | $88.6M | $9.0M | ||
| Q2 24 | $78.4M | $49.0M | ||
| Q1 24 | $66.8M | $-43.0M |
| Q4 25 | 25.0% | — | ||
| Q3 25 | 24.1% | 1.5% | ||
| Q2 25 | 21.1% | -37.4% | ||
| Q1 25 | 27.5% | -8.1% | ||
| Q4 24 | 21.6% | -26.1% | ||
| Q3 24 | 24.7% | 1.3% | ||
| Q2 24 | 22.8% | 6.8% | ||
| Q1 24 | 20.7% | -6.1% |
| Q4 25 | 0.4% | — | ||
| Q3 25 | 0.3% | 0.6% | ||
| Q2 25 | 0.7% | 1.1% | ||
| Q1 25 | 0.3% | 1.3% | ||
| Q4 24 | 0.1% | 1.0% | ||
| Q3 24 | 0.0% | 0.3% | ||
| Q2 24 | 0.1% | 1.8% | ||
| Q1 24 | 0.0% | 1.1% |
| Q4 25 | — | 0.61× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.35× | — | ||
| Q3 24 | 9.94× | 0.01× | ||
| Q2 24 | 10.35× | — | ||
| 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% |
VYX
| Services | $484.0M | 67% |
| Products | $236.0M | 33% |
