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Side-by-side financial comparison of BILL Holdings, Inc. (BILL) and XPLR Infrastructure, LP (XIFR). Click either name above to swap in a different company.
BILL Holdings, Inc. is the larger business by last-quarter revenue ($414.7M vs $249.0M, roughly 1.7× XPLR Infrastructure, LP). XPLR Infrastructure, LP runs the higher net margin — 11.2% vs -0.6%, a 11.9% gap on every dollar of revenue. On growth, BILL Holdings, Inc. posted the faster year-over-year revenue change (14.4% vs -15.3%). BILL Holdings, Inc. produced more free cash flow last quarter ($103.8M vs $-88.0M). Over the past eight quarters, BILL Holdings, Inc.'s revenue compounded faster (13.3% CAGR vs -1.6%).
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.
XPLR Infrastructure is a publicly traded subsidiary of NextEra Energy, is a Juno Beach, Florida-based renewable energy company.
BILL vs XIFR — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $414.7M | $249.0M |
| Net Profit | $-2.6M | $28.0M |
| Gross Margin | 79.8% | — |
| Operating Margin | -4.4% | -19.3% |
| Net Margin | -0.6% | 11.2% |
| Revenue YoY | 14.4% | -15.3% |
| Net Profit YoY | -107.7% | 124.3% |
| EPS (diluted) | $-0.03 | — |
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 | $249.0M | ||
| Q3 25 | $395.7M | $315.0M | ||
| Q2 25 | $383.3M | $342.0M | ||
| Q1 25 | $358.2M | $282.0M | ||
| Q4 24 | $362.6M | $294.0M | ||
| Q3 24 | $358.4M | $319.0M | ||
| Q2 24 | $343.7M | $360.0M | ||
| Q1 24 | $323.0M | $257.0M |
| Q4 25 | $-2.6M | $28.0M | ||
| Q3 25 | $-3.0M | $-37.0M | ||
| Q2 25 | $-7.1M | $79.0M | ||
| Q1 25 | $-11.6M | $-98.0M | ||
| Q4 24 | $33.5M | $-115.0M | ||
| Q3 24 | $8.9M | $-40.0M | ||
| Q2 24 | $7.6M | $62.0M | ||
| Q1 24 | $31.8M | $70.0M |
| Q4 25 | 79.8% | — | ||
| Q3 25 | 80.5% | — | ||
| Q2 25 | 80.8% | — | ||
| Q1 25 | 81.2% | — | ||
| Q4 24 | 81.6% | — | ||
| Q3 24 | 82.0% | — | ||
| Q2 24 | 81.0% | — | ||
| Q1 24 | 83.0% | — |
| Q4 25 | -4.4% | -19.3% | ||
| Q3 25 | -5.2% | 1.6% | ||
| Q2 25 | -5.8% | 26.3% | ||
| Q1 25 | -8.1% | -82.6% | ||
| Q4 24 | -6.0% | -188.1% | ||
| Q3 24 | -2.1% | 15.4% | ||
| Q2 24 | -6.5% | 18.3% | ||
| Q1 24 | -8.6% | -8.2% |
| Q4 25 | -0.6% | 11.2% | ||
| Q3 25 | -0.7% | -11.7% | ||
| Q2 25 | -1.8% | 23.1% | ||
| Q1 25 | -3.2% | -34.8% | ||
| Q4 24 | 9.3% | -39.1% | ||
| Q3 24 | 2.5% | -12.5% | ||
| Q2 24 | 2.2% | 17.2% | ||
| Q1 24 | 9.8% | 27.2% |
| Q4 25 | $-0.03 | — | ||
| Q3 25 | $-0.03 | $-0.40 | ||
| Q2 25 | $0.02 | $0.84 | ||
| Q1 25 | $-0.11 | $-1.05 | ||
| Q4 24 | $-0.06 | — | ||
| Q3 24 | $0.08 | $-0.43 | ||
| Q2 24 | $0.37 | $0.66 | ||
| Q1 24 | $0.00 | $0.75 |
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 | $960.0M |
| Total DebtLower is stronger | $1.8B | $6.2B |
| Stockholders' EquityBook value | $3.8B | $10.9B |
| Total Assets | $10.1B | $19.6B |
| Debt / EquityLower = less leverage | 0.48× | 0.57× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $960.0M | ||
| Q3 25 | $1.1B | $711.0M | ||
| Q2 25 | $1.0B | $880.0M | ||
| Q1 25 | $1.0B | $1.5B | ||
| Q4 24 | $1.6B | $283.0M | ||
| Q3 24 | $853.5M | $290.0M | ||
| Q2 24 | $985.9M | $281.0M | ||
| Q1 24 | $952.5M | $245.0M |
| Q4 25 | $1.8B | $6.2B | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | $5.3B | ||
| Q3 24 | $914.8M | — | ||
| Q2 24 | $914.0M | — | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $3.8B | $10.9B | ||
| Q3 25 | $3.9B | $11.0B | ||
| Q2 25 | $3.9B | $11.3B | ||
| Q1 25 | $3.9B | $12.6B | ||
| Q4 24 | $3.8B | $12.9B | ||
| Q3 24 | $4.0B | $13.6B | ||
| Q2 24 | $4.1B | $13.9B | ||
| Q1 24 | $4.1B | $14.0B |
| Q4 25 | $10.1B | $19.6B | ||
| Q3 25 | $10.2B | $19.1B | ||
| Q2 25 | $10.1B | $20.5B | ||
| Q1 25 | $9.6B | $21.4B | ||
| Q4 24 | $9.7B | $20.3B | ||
| Q3 24 | $9.0B | $20.9B | ||
| Q2 24 | $9.2B | $21.7B | ||
| Q1 24 | $9.1B | $22.3B |
| Q4 25 | 0.48× | 0.57× | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.43× | — | ||
| Q4 24 | 0.44× | 0.41× | ||
| 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 | $186.0M |
| Free Cash FlowOCF − Capex | $103.8M | $-88.0M |
| FCF MarginFCF / Revenue | 25.0% | -35.3% |
| Capex IntensityCapex / Revenue | 0.4% | 110.0% |
| Cash ConversionOCF / Net Profit | — | 6.64× |
| TTM Free Cash FlowTrailing 4 quarters | $378.8M | $-219.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.3M | $186.0M | ||
| Q3 25 | $96.9M | $231.0M | ||
| Q2 25 | $83.8M | $232.0M | ||
| Q1 25 | $99.5M | $90.0M | ||
| Q4 24 | $78.7M | $283.0M | ||
| Q3 24 | $88.6M | $208.0M | ||
| Q2 24 | $78.6M | $231.0M | ||
| Q1 24 | $66.8M | $78.0M |
| Q4 25 | $103.8M | $-88.0M | ||
| Q3 25 | $95.6M | $-283.0M | ||
| Q2 25 | $81.0M | $151.0M | ||
| Q1 25 | $98.4M | $1.0M | ||
| Q4 24 | $78.3M | $231.0M | ||
| Q3 24 | $88.6M | $152.0M | ||
| Q2 24 | $78.4M | $162.0M | ||
| Q1 24 | $66.8M | $14.0M |
| Q4 25 | 25.0% | -35.3% | ||
| Q3 25 | 24.1% | -89.8% | ||
| Q2 25 | 21.1% | 44.2% | ||
| Q1 25 | 27.5% | 0.4% | ||
| Q4 24 | 21.6% | 78.6% | ||
| Q3 24 | 24.7% | 47.6% | ||
| Q2 24 | 22.8% | 45.0% | ||
| Q1 24 | 20.7% | 5.4% |
| Q4 25 | 0.4% | 110.0% | ||
| Q3 25 | 0.3% | 163.2% | ||
| Q2 25 | 0.7% | 23.7% | ||
| Q1 25 | 0.3% | 31.6% | ||
| Q4 24 | 0.1% | 17.7% | ||
| Q3 24 | 0.0% | 17.6% | ||
| Q2 24 | 0.1% | 19.2% | ||
| Q1 24 | 0.0% | 24.9% |
| Q4 25 | — | 6.64× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.94× | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.35× | — | ||
| Q3 24 | 9.94× | — | ||
| Q2 24 | 10.35× | 3.73× | ||
| Q1 24 | 2.10× | 1.11× |
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% |
XIFR
| Renewable Energy Sales | $238.0M | 96% |
| Related Party | $8.0M | 3% |
