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ASSOCIATED BANC-CORP（ASB）与BILL Holdings, Inc.（BILL）财务数据对比。点击上方公司名可切换其他公司
BILL Holdings, Inc.的季度营收约是ASSOCIATED BANC-CORP的1.1倍（$414.7M vs $383.0M），ASSOCIATED BANC-CORP净利率更高（31.2% vs -0.6%，领先31.9%），过去两年BILL Holdings, Inc.的营收复合增速更高（13.3% vs 9.1%）
联合银行集团（Associated Banc-Corp）是美国区域性银行控股公司，总部位于威斯康星州格林贝，深耕美国中西部地区，主营零售银行、商业银行、商业地产贷款、私人银行及特色金融服务，在威斯康星州、伊利诺伊州、明尼苏达州设有220多个营业网点，覆盖100多个社区，还在印第安纳、密歇根等多州设有贷款办事处。
BILL Holdings, Inc. 是总部位于美国加利福尼亚州圣何塞的企业，专注为美国小型企业提供自动化云原生财务运营软件。旗下Bill.com Connect是白标端到端支付自动化平台，可供金融机构接入其单点登录的线上企业银行生态中使用。
ASB vs BILL — 直观对比
营收规模更大
BILL
是对方的1.1倍
$383.0M
净利率更高
ASB
高出31.9%
-0.6%
两年增速更快
BILL
近两年复合增速
9.1%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $383.0M | $414.7M |
| 净利润 | $119.6M | $-2.6M |
| 毛利率 | — | 79.8% |
| 营业利润率 | — | -4.4% |
| 净利率 | 31.2% | -0.6% |
| 营收同比 | — | 14.4% |
| 净利润同比 | 566.6% | -107.7% |
| 每股收益（稀释后） | $0.70 | $-0.03 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ASBBILL
| Q1 26 | $383.0M | — | ||
| Q4 25 | $310.0M | $414.7M | ||
| Q3 25 | $305.2M | $395.7M | ||
| Q2 25 | $300.0M | $383.3M | ||
| Q1 25 | $285.9M | $358.2M | ||
| Q4 24 | $270.3M | $362.6M | ||
| Q3 24 | $329.7M | $358.4M | ||
| Q2 24 | $321.8M | $343.7M |
净利润ASBBILL
| Q1 26 | $119.6M | — | ||
| Q4 25 | $137.1M | $-2.6M | ||
| Q3 25 | $124.7M | $-3.0M | ||
| Q2 25 | $111.2M | $-7.1M | ||
| Q1 25 | $101.7M | $-11.6M | ||
| Q4 24 | $-161.6M | $33.5M | ||
| Q3 24 | $88.0M | $8.9M | ||
| Q2 24 | $115.6M | $7.6M |
毛利率ASBBILL
| 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% |
营业利润率ASBBILL
| Q1 26 | — | — | ||
| Q4 25 | 52.6% | -4.4% | ||
| Q3 25 | 50.5% | -5.2% | ||
| Q2 25 | 46.5% | -5.8% | ||
| Q1 25 | 42.3% | -8.1% | ||
| Q4 24 | -65.8% | -6.0% | ||
| Q3 24 | 32.8% | -2.1% | ||
| Q2 24 | 32.0% | -6.5% |
净利率ASBBILL
| Q1 26 | 31.2% | — | ||
| Q4 25 | 44.2% | -0.6% | ||
| Q3 25 | 40.9% | -0.7% | ||
| Q2 25 | 37.1% | -1.8% | ||
| Q1 25 | 35.6% | -3.2% | ||
| Q4 24 | -59.8% | 9.3% | ||
| Q3 24 | 26.7% | 2.5% | ||
| Q2 24 | 35.9% | 2.2% |
每股收益（稀释后）ASBBILL
| Q1 26 | $0.70 | — | ||
| Q4 25 | $0.80 | $-0.03 | ||
| Q3 25 | $0.73 | $-0.03 | ||
| Q2 25 | $0.65 | $0.02 | ||
| Q1 25 | $0.59 | $-0.11 | ||
| Q4 24 | $-1.10 | $-0.06 | ||
| Q3 24 | $0.56 | $0.08 | ||
| Q2 24 | $0.74 | $0.37 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $1.1B |
| 总债务越低越好 | — | $1.8B |
| 股东权益账面价值 | $5.0B | $3.8B |
| 总资产 | $45.6B | $10.1B |
| 负债/权益比越低杠杆越低 | — | 0.48× |
8季度趋势，按日历期对齐
现金及短期投资ASBBILL
| Q1 26 | — | — | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.0B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $853.5M | ||
| Q2 24 | — | $985.9M |
总债务ASBBILL
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $1.8B | ||
| Q3 25 | $594.1M | $1.9B | ||
| Q2 25 | $593.5M | $1.7B | ||
| Q1 25 | $591.4M | $1.7B | ||
| Q4 24 | $1.4B | $1.7B | ||
| Q3 24 | $844.3M | $914.8M | ||
| Q2 24 | $536.1M | $914.0M |
股东权益ASBBILL
| Q1 26 | $5.0B | — | ||
| Q4 25 | $5.0B | $3.8B | ||
| Q3 25 | $4.9B | $3.9B | ||
| Q2 25 | $4.8B | $3.9B | ||
| Q1 25 | $4.7B | $3.9B | ||
| Q4 24 | $4.6B | $3.8B | ||
| Q3 24 | $4.4B | $4.0B | ||
| Q2 24 | $4.2B | $4.1B |
总资产ASBBILL
| Q1 26 | $45.6B | — | ||
| Q4 25 | $45.2B | $10.1B | ||
| Q3 25 | $44.5B | $10.2B | ||
| Q2 25 | $44.0B | $10.1B | ||
| Q1 25 | $43.3B | $9.6B | ||
| Q4 24 | $43.0B | $9.7B | ||
| Q3 24 | $42.2B | $9.0B | ||
| Q2 24 | $41.6B | $9.2B |
负债/权益比ASBBILL
| Q1 26 | — | — | ||
| Q4 25 | 0.20× | 0.48× | ||
| Q3 25 | 0.12× | 0.48× | ||
| Q2 25 | 0.12× | 0.44× | ||
| Q1 25 | 0.13× | 0.43× | ||
| Q4 24 | 0.31× | 0.44× | ||
| Q3 24 | 0.19× | 0.23× | ||
| Q2 24 | 0.13× | 0.22× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $105.3M |
| 自由现金流经营现金流 - 资本支出 | — | $103.8M |
| 自由现金流率自由现金流/营收 | — | 25.0% |
| 资本支出强度资本支出/营收 | — | 0.4% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $378.8M |
8季度趋势，按日历期对齐
经营现金流ASBBILL
| Q1 26 | — | — | ||
| Q4 25 | $218.1M | $105.3M | ||
| Q3 25 | $158.0M | $96.9M | ||
| Q2 25 | $141.5M | $83.8M | ||
| Q1 25 | $98.2M | $99.5M | ||
| Q4 24 | $207.1M | $78.7M | ||
| Q3 24 | $105.1M | $88.6M | ||
| Q2 24 | $113.5M | $78.6M |
自由现金流ASBBILL
| Q1 26 | — | — | ||
| Q4 25 | — | $103.8M | ||
| Q3 25 | — | $95.6M | ||
| Q2 25 | — | $81.0M | ||
| Q1 25 | — | $98.4M | ||
| Q4 24 | — | $78.3M | ||
| Q3 24 | — | $88.6M | ||
| Q2 24 | — | $78.4M |
自由现金流率ASBBILL
| Q1 26 | — | — | ||
| Q4 25 | — | 25.0% | ||
| Q3 25 | — | 24.1% | ||
| Q2 25 | — | 21.1% | ||
| Q1 25 | — | 27.5% | ||
| Q4 24 | — | 21.6% | ||
| Q3 24 | — | 24.7% | ||
| Q2 24 | — | 22.8% |
资本支出强度ASBBILL
| Q1 26 | — | — | ||
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.1% |
现金转化率ASBBILL
| Q1 26 | — | — | ||
| Q4 25 | 1.59× | — | ||
| Q3 25 | 1.27× | — | ||
| Q2 25 | 1.27× | — | ||
| Q1 25 | 0.97× | — | ||
| Q4 24 | — | 2.35× | ||
| Q3 24 | 1.19× | 9.94× | ||
| Q2 24 | 0.98× | 10.35× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ASB
| Net Interest Income | $307.2M | 80% |
| Noninterest Income | $75.9M | 20% |
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% |
