vs
BILL Holdings, Inc.（BILL）与FirstCash Holdings, Inc.（FCFS）财务数据对比。点击上方公司名可切换其他公司
FirstCash Holdings, Inc.的季度营收约是BILL Holdings, Inc.的1.2倍（$501.3M vs $414.7M），FirstCash Holdings, Inc.净利率更高（20.8% vs -0.6%，领先21.4%），FirstCash Holdings, Inc.同比增速更快（21.2% vs 14.4%），过去两年FirstCash Holdings, Inc.的营收复合增速更高（16.9% vs 13.3%）
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。
FirstCash Holdings, Inc.是总部位于美国得克萨斯州沃斯堡的典当企业，在美国及拉丁美洲多地运营线下典当零售门店，为纳斯达克证券交易所公开上市企业，在美洲典当服务领域拥有成熟的业务布局与完善的运营网络。
BILL vs FCFS — 直观对比
营收规模更大
FCFS
是对方的1.2倍
$414.7M
营收增速更快
FCFS
高出6.8%
14.4%
净利率更高
FCFS
高出21.4%
-0.6%
两年增速更快
FCFS
近两年复合增速
13.3%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $414.7M | $501.3M |
| 净利润 | $-2.6M | $104.2M |
| 毛利率 | 79.8% | — |
| 营业利润率 | -4.4% | 28.5% |
| 净利率 | -0.6% | 20.8% |
| 营收同比 | 14.4% | 21.2% |
| 净利润同比 | -107.7% | 24.7% |
| 每股收益（稀释后） | $-0.03 | $2.35 |
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BILLFCFS
| Q4 25 | $414.7M | $501.3M | ||
| Q3 25 | $395.7M | $411.0M | ||
| Q2 25 | $383.3M | $385.1M | ||
| Q1 25 | $358.2M | $371.1M | ||
| Q4 24 | $362.6M | $413.7M | ||
| Q3 24 | $358.4M | $363.1M | ||
| Q2 24 | $343.7M | $363.5M | ||
| Q1 24 | $323.0M | $366.8M |
净利润BILLFCFS
| Q4 25 | $-2.6M | $104.2M | ||
| Q3 25 | $-3.0M | $82.8M | ||
| Q2 25 | $-7.1M | $59.8M | ||
| Q1 25 | $-11.6M | $83.6M | ||
| Q4 24 | $33.5M | $83.5M | ||
| Q3 24 | $8.9M | $64.8M | ||
| Q2 24 | $7.6M | $49.1M | ||
| Q1 24 | $31.8M | $61.4M |
毛利率BILLFCFS
| 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BILLFCFS
| Q4 25 | -4.4% | 28.5% | ||
| Q3 25 | -5.2% | 27.4% | ||
| Q2 25 | -5.8% | 21.1% | ||
| Q1 25 | -8.1% | 30.0% | ||
| Q4 24 | -6.0% | 26.5% | ||
| Q3 24 | -2.1% | 23.5% | ||
| Q2 24 | -6.5% | 18.2% | ||
| Q1 24 | -8.6% | 22.3% |
净利率BILLFCFS
| Q4 25 | -0.6% | 20.8% | ||
| Q3 25 | -0.7% | 20.1% | ||
| Q2 25 | -1.8% | 15.5% | ||
| Q1 25 | -3.2% | 22.5% | ||
| Q4 24 | 9.3% | 20.2% | ||
| Q3 24 | 2.5% | 17.9% | ||
| Q2 24 | 2.2% | 13.5% | ||
| Q1 24 | 9.8% | 16.7% |
每股收益（稀释后）BILLFCFS
| Q4 25 | $-0.03 | $2.35 | ||
| Q3 25 | $-0.03 | $1.86 | ||
| Q2 25 | $0.02 | $1.34 | ||
| Q1 25 | $-0.11 | $1.87 | ||
| Q4 24 | $-0.06 | $1.86 | ||
| Q3 24 | $0.08 | $1.44 | ||
| Q2 24 | $0.37 | $1.08 | ||
| Q1 24 | $0.00 | $1.35 |
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 | $125.2M |
| 总债务越低越好 | $1.8B | $2.2B |
| 股东权益账面价值 | $3.8B | $2.3B |
| 总资产 | $10.1B | $5.3B |
| 负债/权益比越低杠杆越低 | 0.48× | 0.98× |
8季度趋势，按日历期对齐
现金及短期投资BILLFCFS
| Q4 25 | $1.1B | $125.2M | ||
| Q3 25 | $1.1B | $130.2M | ||
| Q2 25 | $1.0B | $101.5M | ||
| Q1 25 | $1.0B | $146.0M | ||
| Q4 24 | $1.6B | $175.1M | ||
| Q3 24 | $853.5M | $106.3M | ||
| Q2 24 | $985.9M | $113.7M | ||
| Q1 24 | $952.5M | $135.1M |
总债务BILLFCFS
| Q4 25 | $1.8B | $2.2B | ||
| Q3 25 | $1.9B | $2.2B | ||
| Q2 25 | $1.7B | $1.7B | ||
| Q1 25 | $1.7B | $1.7B | ||
| Q4 24 | $1.7B | $1.7B | ||
| Q3 24 | $914.8M | $1.7B | ||
| Q2 24 | $914.0M | $1.7B | ||
| Q1 24 | $1.1B | $1.5B |
股东权益BILLFCFS
| Q4 25 | $3.8B | $2.3B | ||
| Q3 25 | $3.9B | $2.2B | ||
| Q2 25 | $3.9B | $2.1B | ||
| Q1 25 | $3.9B | $2.1B | ||
| Q4 24 | $3.8B | $2.1B | ||
| Q3 24 | $4.0B | $2.0B | ||
| Q2 24 | $4.1B | $2.0B | ||
| Q1 24 | $4.1B | $2.0B |
总资产BILLFCFS
| Q4 25 | $10.1B | $5.3B | ||
| Q3 25 | $10.2B | $5.2B | ||
| Q2 25 | $10.1B | $4.5B | ||
| Q1 25 | $9.6B | $4.4B | ||
| Q4 24 | $9.7B | $4.5B | ||
| Q3 24 | $9.0B | $4.4B | ||
| Q2 24 | $9.2B | $4.3B | ||
| Q1 24 | $9.1B | $4.2B |
负债/权益比BILLFCFS
| Q4 25 | 0.48× | 0.98× | ||
| Q3 25 | 0.48× | 1.01× | ||
| Q2 25 | 0.44× | 0.79× | ||
| Q1 25 | 0.43× | 0.83× | ||
| Q4 24 | 0.44× | 0.85× | ||
| Q3 24 | 0.23× | 0.87× | ||
| Q2 24 | 0.22× | 0.85× | ||
| Q1 24 | 0.28× | 0.75× |
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 | $206.6M |
| 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 | — | 1.98× |
| 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BILLFCFS
| Q4 25 | $105.3M | $206.6M | ||
| Q3 25 | $96.9M | $135.8M | ||
| Q2 25 | $83.8M | $116.9M | ||
| Q1 25 | $99.5M | $126.6M | ||
| Q4 24 | $78.7M | $198.1M | ||
| Q3 24 | $88.6M | $113.1M | ||
| Q2 24 | $78.6M | $106.2M | ||
| Q1 24 | $66.8M | $122.5M |
自由现金流BILLFCFS
| 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 | — | ||
| Q1 24 | $66.8M | — |
自由现金流率BILLFCFS
| 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% | — | ||
| Q1 24 | 20.7% | — |
资本支出强度BILLFCFS
| 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% | — | ||
| Q1 24 | 0.0% | — |
现金转化率BILLFCFS
| Q4 25 | — | 1.98× | ||
| Q3 25 | — | 1.64× | ||
| Q2 25 | — | 1.95× | ||
| Q1 25 | — | 1.51× | ||
| Q4 24 | 2.35× | 2.37× | ||
| Q3 24 | 9.94× | 1.74× | ||
| Q2 24 | 10.35× | 2.16× | ||
| Q1 24 | 2.10× | 2.00× |
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% |
FCFS
| US Pawn Segment | $292.2M | 58% |
| Retail POS Payment Solutions | $209.8M | 42% |
