vs
BILL Holdings, Inc.（BILL）与Douglas Elliman Inc.（DOUG）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Douglas Elliman Inc.的1.7倍（$414.7M vs $245.4M），Douglas Elliman Inc.净利率更高（27.9% vs -0.6%，领先28.6%），BILL Holdings, Inc.同比增速更快（14.4% vs 0.9%），BILL Holdings, Inc.自由现金流更多（$103.8M vs $-14.7M），过去两年BILL Holdings, Inc.的营收复合增速更高（13.3% vs 10.7%）
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。
Douglas Elliman Inc.是美国领先的住宅房地产经纪企业，提供高端房产买卖、租赁、物业管理及相关咨询服务，核心业务覆盖纽约、加州、佛罗里达、得克萨斯等都会区，主要服务高净值客户群体。
BILL vs DOUG — 直观对比
营收规模更大
BILL
是对方的1.7倍
$245.4M
营收增速更快
BILL
高出13.5%
0.9%
净利率更高
DOUG
高出28.6%
-0.6%
自由现金流更多
BILL
多$118.5M
$-14.7M
两年增速更快
BILL
近两年复合增速
10.7%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $414.7M | $245.4M |
| 净利润 | $-2.6M | $68.6M |
| 毛利率 | 79.8% | — |
| 营业利润率 | -4.4% | 27.3% |
| 净利率 | -0.6% | 27.9% |
| 营收同比 | 14.4% | 0.9% |
| 净利润同比 | -107.7% | 1243.4% |
| 每股收益（稀释后） | $-0.03 | $0.80 |
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BILLDOUG
| Q4 25 | $414.7M | $245.4M | ||
| Q3 25 | $395.7M | $262.8M | ||
| Q2 25 | $383.3M | $271.4M | ||
| Q1 25 | $358.2M | $253.4M | ||
| Q4 24 | $362.6M | $243.3M | ||
| Q3 24 | $358.4M | $266.3M | ||
| Q2 24 | $343.7M | $285.8M | ||
| Q1 24 | $323.0M | $200.2M |
净利润BILLDOUG
| Q4 25 | $-2.6M | $68.6M | ||
| Q3 25 | $-3.0M | $-24.7M | ||
| Q2 25 | $-7.1M | $-22.7M | ||
| Q1 25 | $-11.6M | $-6.0M | ||
| Q4 24 | $33.5M | $-6.0M | ||
| Q3 24 | $8.9M | $-27.2M | ||
| Q2 24 | $7.6M | $-1.7M | ||
| Q1 24 | $31.8M | $-41.5M |
毛利率BILLDOUG
| 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% | — |
营业利润率BILLDOUG
| Q4 25 | -4.4% | 27.3% | ||
| Q3 25 | -5.2% | -4.1% | ||
| Q2 25 | -5.8% | -2.0% | ||
| Q1 25 | -8.1% | -2.1% | ||
| Q4 24 | -6.0% | -6.7% | ||
| Q3 24 | -2.1% | -2.8% | ||
| Q2 24 | -6.5% | -1.3% | ||
| Q1 24 | -8.6% | -20.7% |
净利率BILLDOUG
| Q4 25 | -0.6% | 27.9% | ||
| Q3 25 | -0.7% | -9.4% | ||
| Q2 25 | -1.8% | -8.4% | ||
| Q1 25 | -3.2% | -2.4% | ||
| Q4 24 | 9.3% | -2.5% | ||
| Q3 24 | 2.5% | -10.2% | ||
| Q2 24 | 2.2% | -0.6% | ||
| Q1 24 | 9.8% | -20.7% |
每股收益（稀释后）BILLDOUG
| Q4 25 | $-0.03 | $0.80 | ||
| Q3 25 | $-0.03 | $-0.29 | ||
| Q2 25 | $0.02 | $-0.27 | ||
| Q1 25 | $-0.11 | $-0.07 | ||
| Q4 24 | $-0.06 | $-0.06 | ||
| Q3 24 | $0.08 | $-0.33 | ||
| Q2 24 | $0.37 | $-0.02 | ||
| Q1 24 | $0.00 | $-0.50 |
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 | $115.5M |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $3.8B | $183.9M |
| 总资产 | $10.1B | $444.4M |
| 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BILLDOUG
| Q4 25 | $1.1B | $115.5M | ||
| Q3 25 | $1.1B | $143.0M | ||
| Q2 25 | $1.0B | $136.3M | ||
| Q1 25 | $1.0B | $136.8M | ||
| Q4 24 | $1.6B | $145.5M | ||
| Q3 24 | $853.5M | $151.4M | ||
| Q2 24 | $985.9M | $92.9M | ||
| Q1 24 | $952.5M | $91.5M |
总债务BILLDOUG
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $914.8M | — | ||
| Q2 24 | $914.0M | — | ||
| Q1 24 | $1.1B | — |
股东权益BILLDOUG
| Q4 25 | $3.8B | $183.9M | ||
| Q3 25 | $3.9B | $115.1M | ||
| Q2 25 | $3.9B | $137.6M | ||
| Q1 25 | $3.9B | $158.2M | ||
| Q4 24 | $3.8B | $162.2M | ||
| Q3 24 | $4.0B | $173.6M | ||
| Q2 24 | $4.1B | $196.9M | ||
| Q1 24 | $4.1B | $195.1M |
总资产BILLDOUG
| Q4 25 | $10.1B | $444.4M | ||
| Q3 25 | $10.2B | $480.6M | ||
| Q2 25 | $10.1B | $489.0M | ||
| Q1 25 | $9.6B | $493.9M | ||
| Q4 24 | $9.7B | $493.9M | ||
| Q3 24 | $9.0B | $502.7M | ||
| Q2 24 | $9.2B | $463.9M | ||
| Q1 24 | $9.1B | $461.1M |
负债/权益比BILLDOUG
| Q4 25 | 0.48× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.43× | — | ||
| Q4 24 | 0.44× | — | ||
| Q3 24 | 0.23× | — | ||
| Q2 24 | 0.22× | — | ||
| Q1 24 | 0.28× | — |
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 | $-14.4M |
| 自由现金流经营现金流 - 资本支出 | $103.8M | $-14.7M |
| 自由现金流率自由现金流/营收 | 25.0% | -6.0% |
| 资本支出强度资本支出/营收 | 0.4% | 0.1% |
| 现金转化率经营现金流/净利润 | — | -0.21× |
| 过去12个月自由现金流最近4个季度 | $378.8M | $-17.2M |
8季度趋势，按日历期对齐
经营现金流BILLDOUG
| Q4 25 | $105.3M | $-14.4M | ||
| Q3 25 | $96.9M | $5.5M | ||
| Q2 25 | $83.8M | $642.0K | ||
| Q1 25 | $99.5M | $-5.6M | ||
| Q4 24 | $78.7M | $-9.0M | ||
| Q3 24 | $88.6M | $9.0M | ||
| Q2 24 | $78.6M | $1.3M | ||
| Q1 24 | $66.8M | $-27.3M |
自由现金流BILLDOUG
| Q4 25 | $103.8M | $-14.7M | ||
| Q3 25 | $95.6M | $4.7M | ||
| Q2 25 | $81.0M | $-575.0K | ||
| Q1 25 | $98.4M | $-6.7M | ||
| Q4 24 | $78.3M | $-10.2M | ||
| Q3 24 | $88.6M | $7.7M | ||
| Q2 24 | $78.4M | $432.0K | ||
| Q1 24 | $66.8M | $-29.4M |
自由现金流率BILLDOUG
| Q4 25 | 25.0% | -6.0% | ||
| Q3 25 | 24.1% | 1.8% | ||
| Q2 25 | 21.1% | -0.2% | ||
| Q1 25 | 27.5% | -2.6% | ||
| Q4 24 | 21.6% | -4.2% | ||
| Q3 24 | 24.7% | 2.9% | ||
| Q2 24 | 22.8% | 0.2% | ||
| Q1 24 | 20.7% | -14.7% |
资本支出强度BILLDOUG
| Q4 25 | 0.4% | 0.1% | ||
| Q3 25 | 0.3% | 0.3% | ||
| Q2 25 | 0.7% | 0.4% | ||
| Q1 25 | 0.3% | 0.4% | ||
| Q4 24 | 0.1% | 0.5% | ||
| Q3 24 | 0.0% | 0.5% | ||
| Q2 24 | 0.1% | 0.3% | ||
| Q1 24 | 0.0% | 1.0% |
现金转化率BILLDOUG
| Q4 25 | — | -0.21× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.35× | — | ||
| Q3 24 | 9.94× | — | ||
| Q2 24 | 10.35× | — | ||
| Q1 24 | 2.10× | — |
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
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% |
DOUG
| Commissions And Other Brokerage Income | $240.3M | 98% |
| Property Management Income | $2.8M | 1% |
| Property Management | $2.2M | 1% |
