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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and Xenia Hotels & Resorts, Inc. (XHR). Click either name above to swap in a different company.
BILL Holdings, Inc. is the larger business by last-quarter revenue ($414.7M vs $295.4M, roughly 1.4× Xenia Hotels & Resorts, Inc.). Xenia Hotels & Resorts, Inc. runs the higher net margin — 6.7% vs -0.6%, a 7.3% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs 2.2%). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs 4.0%).
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.
Xenia Hotels & Resorts, Inc. is a real estate investment trust that invests in hotels. As of December 31, 2024, it owned 31 hotels comprising 9,408 rooms.
BILL vs XHR — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $295.4M |
| Net Profit | $-2.6M | $19.8M |
| Gross Margin | 79.8% | — |
| Operating Margin | -4.4% | 14.1% |
| Net Margin | -0.6% | 6.7% |
| Revenue YoY | 14.4% | 2.2% |
| Net Profit YoY | -107.7% | 26.9% |
| EPS (diluted) | $-0.03 | $0.21 |
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 | — | $295.4M | ||
| Q4 25 | $414.7M | $265.6M | ||
| Q3 25 | $395.7M | $236.4M | ||
| Q2 25 | $383.3M | $287.6M | ||
| Q1 25 | $358.2M | $288.9M | ||
| Q4 24 | $362.6M | $261.8M | ||
| Q3 24 | $358.4M | $236.8M | ||
| Q2 24 | $343.7M | $272.9M |
| Q1 26 | — | $19.8M | ||
| Q4 25 | $-2.6M | $6.1M | ||
| Q3 25 | $-3.0M | $-13.7M | ||
| Q2 25 | $-7.1M | $55.2M | ||
| Q1 25 | $-11.6M | $15.6M | ||
| Q4 24 | $33.5M | $-638.0K | ||
| Q3 24 | $8.9M | $-7.1M | ||
| Q2 24 | $7.6M | $15.3M |
| Q1 26 | — | — | ||
| Q4 25 | 79.8% | 30.4% | ||
| Q3 25 | 80.5% | 25.1% | ||
| Q2 25 | 80.8% | 33.6% | ||
| Q1 25 | 81.2% | 32.3% | ||
| Q4 24 | 81.6% | 29.0% | ||
| Q3 24 | 82.0% | 25.8% | ||
| Q2 24 | 81.0% | 31.9% |
| Q1 26 | — | 14.1% | ||
| Q4 25 | -4.4% | 10.1% | ||
| Q3 25 | -5.2% | 2.0% | ||
| Q2 25 | -5.8% | 14.0% | ||
| Q1 25 | -8.1% | 12.4% | ||
| Q4 24 | -6.0% | 8.2% | ||
| Q3 24 | -2.1% | 3.2% | ||
| Q2 24 | -6.5% | 11.1% |
| Q1 26 | — | 6.7% | ||
| Q4 25 | -0.6% | 2.3% | ||
| Q3 25 | -0.7% | -5.8% | ||
| Q2 25 | -1.8% | 19.2% | ||
| Q1 25 | -3.2% | 5.4% | ||
| Q4 24 | 9.3% | -0.2% | ||
| Q3 24 | 2.5% | -3.0% | ||
| Q2 24 | 2.2% | 5.6% |
| Q1 26 | — | $0.21 | ||
| Q4 25 | $-0.03 | $0.07 | ||
| Q3 25 | $-0.03 | $-0.14 | ||
| Q2 25 | $0.02 | $0.56 | ||
| Q1 25 | $-0.11 | $0.15 | ||
| Q4 24 | $-0.06 | $-0.01 | ||
| Q3 24 | $0.08 | $-0.07 | ||
| Q2 24 | $0.37 | $0.15 |
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 | $101.1M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.8B | $1.2B |
| Total Assets | $10.1B | $2.8B |
| Debt / EquityLower = less leverage | 0.48× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $101.1M | ||
| Q4 25 | $1.1B | $140.4M | ||
| Q3 25 | $1.1B | $188.2M | ||
| Q2 25 | $1.0B | $172.6M | ||
| Q1 25 | $1.0B | $112.6M | ||
| Q4 24 | $1.6B | $78.2M | ||
| Q3 24 | $853.5M | $161.5M | ||
| Q2 24 | $985.9M | $143.6M |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $1.4B | ||
| Q3 25 | $1.9B | $1.4B | ||
| Q2 25 | $1.7B | $1.4B | ||
| Q1 25 | $1.7B | $1.4B | ||
| Q4 24 | $1.7B | $1.3B | ||
| Q3 24 | $914.8M | $1.4B | ||
| Q2 24 | $914.0M | $1.4B |
| Q1 26 | — | $1.2B | ||
| Q4 25 | $3.8B | $1.1B | ||
| Q3 25 | $3.9B | $1.2B | ||
| Q2 25 | $3.9B | $1.2B | ||
| Q1 25 | $3.9B | $1.2B | ||
| Q4 24 | $3.8B | $1.2B | ||
| Q3 24 | $4.0B | $1.3B | ||
| Q2 24 | $4.1B | $1.3B |
| Q1 26 | — | $2.8B | ||
| Q4 25 | $10.1B | $2.8B | ||
| Q3 25 | $10.2B | $2.9B | ||
| Q2 25 | $10.1B | $2.9B | ||
| Q1 25 | $9.6B | $2.9B | ||
| Q4 24 | $9.7B | $2.8B | ||
| Q3 24 | $9.0B | $2.9B | ||
| Q2 24 | $9.2B | $2.9B |
| Q1 26 | — | — | ||
| Q4 25 | 0.48× | 1.25× | ||
| Q3 25 | 0.48× | 1.21× | ||
| Q2 25 | 0.44× | 1.17× | ||
| Q1 25 | 0.43× | 1.18× | ||
| Q4 24 | 0.44× | 1.07× | ||
| Q3 24 | 0.23× | 1.11× | ||
| Q2 24 | 0.22× | 1.09× |
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% | 23.7% |
| 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 | $21.4M | ||
| Q3 25 | $96.9M | $64.0M | ||
| Q2 25 | $83.8M | $36.3M | ||
| Q1 25 | $99.5M | $54.8M | ||
| Q4 24 | $78.7M | $30.6M | ||
| Q3 24 | $88.6M | $51.2M | ||
| Q2 24 | $78.6M | $57.2M |
| Q1 26 | — | — | ||
| Q4 25 | $103.8M | $5.5M | ||
| Q3 25 | $95.6M | $44.2M | ||
| Q2 25 | $81.0M | $17.8M | ||
| Q1 25 | $98.4M | $22.4M | ||
| Q4 24 | $78.3M | $6.2M | ||
| Q3 24 | $88.6M | $4.3M | ||
| Q2 24 | $78.4M | $21.4M |
| Q1 26 | — | — | ||
| Q4 25 | 25.0% | 2.1% | ||
| Q3 25 | 24.1% | 18.7% | ||
| Q2 25 | 21.1% | 6.2% | ||
| Q1 25 | 27.5% | 7.8% | ||
| Q4 24 | 21.6% | 2.4% | ||
| Q3 24 | 24.7% | 1.8% | ||
| Q2 24 | 22.8% | 7.8% |
| Q1 26 | — | 23.7% | ||
| Q4 25 | 0.4% | 6.0% | ||
| Q3 25 | 0.3% | 8.4% | ||
| Q2 25 | 0.7% | 6.4% | ||
| Q1 25 | 0.3% | 11.2% | ||
| Q4 24 | 0.1% | 9.3% | ||
| Q3 24 | 0.0% | 19.8% | ||
| Q2 24 | 0.1% | 13.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.52× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.66× | ||
| Q1 25 | — | 3.51× | ||
| Q4 24 | 2.35× | — | ||
| Q3 24 | 9.94× | — | ||
| Q2 24 | 10.35× | 3.73× |
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% |
XHR
| Rooms revenues | $164.4M | 56% |
| Food and beverage revenues | $105.0M | 36% |
| Other revenues | $26.0M | 9% |
