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BILL Holdings, Inc.（BILL）与FEDERAL SIGNAL CORP（FSS）财务数据对比。点击上方公司名可切换其他公司
FEDERAL SIGNAL CORP的季度营收约是BILL Holdings, Inc.的1.4倍（$597.1M vs $414.7M），FEDERAL SIGNAL CORP净利率更高（10.2% vs -0.6%，领先10.8%），FEDERAL SIGNAL CORP同比增速更快（26.5% vs 14.4%），BILL Holdings, Inc.自由现金流更多（$103.8M vs $89.5M），过去两年FEDERAL SIGNAL CORP的营收复合增速更高（18.5% 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。
联邦信号公司是20世纪早期的美国企业，主营铁路信号设备的制造业务，总部坐落于美国纽约州奥尔巴尼市，其生产的相关信号产品在当时的美国轨道交通行业得到了广泛应用，具备一定的行业知名度。
BILL vs FSS — 直观对比
营收规模更大
FSS
是对方的1.4倍
$414.7M
营收增速更快
FSS
高出12.1%
14.4%
净利率更高
FSS
高出10.8%
-0.6%
自由现金流更多
BILL
多$14.3M
$89.5M
两年增速更快
FSS
近两年复合增速
13.3%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $414.7M | $597.1M |
| 净利润 | $-2.6M | $60.8M |
| 毛利率 | 79.8% | 28.4% |
| 营业利润率 | -4.4% | 14.0% |
| 净利率 | -0.6% | 10.2% |
| 营收同比 | 14.4% | 26.5% |
| 净利润同比 | -107.7% | 21.6% |
| 每股收益（稀释后） | $-0.03 | $0.99 |
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BILLFSS
| Q4 25 | $414.7M | $597.1M | ||
| Q3 25 | $395.7M | $555.0M | ||
| Q2 25 | $383.3M | $564.6M | ||
| Q1 25 | $358.2M | $463.8M | ||
| Q4 24 | $362.6M | $472.0M | ||
| Q3 24 | $358.4M | $474.2M | ||
| Q2 24 | $343.7M | $490.4M | ||
| Q1 24 | $323.0M | $424.9M |
净利润BILLFSS
| Q4 25 | $-2.6M | $60.8M | ||
| Q3 25 | $-3.0M | $68.1M | ||
| Q2 25 | $-7.1M | $71.4M | ||
| Q1 25 | $-11.6M | $46.3M | ||
| Q4 24 | $33.5M | $50.0M | ||
| Q3 24 | $8.9M | $53.9M | ||
| Q2 24 | $7.6M | $60.8M | ||
| Q1 24 | $31.8M | $51.6M |
毛利率BILLFSS
| Q4 25 | 79.8% | 28.4% | ||
| Q3 25 | 80.5% | 29.1% | ||
| Q2 25 | 80.8% | 30.0% | ||
| Q1 25 | 81.2% | 28.2% | ||
| Q4 24 | 81.6% | 28.1% | ||
| Q3 24 | 82.0% | 29.6% | ||
| Q2 24 | 81.0% | 29.4% | ||
| Q1 24 | 83.0% | 27.3% |
营业利润率BILLFSS
| Q4 25 | -4.4% | 14.0% | ||
| Q3 25 | -5.2% | 16.9% | ||
| Q2 25 | -5.8% | 17.3% | ||
| Q1 25 | -8.1% | 14.2% | ||
| Q4 24 | -6.0% | 14.9% | ||
| Q3 24 | -2.1% | 16.0% | ||
| Q2 24 | -6.5% | 16.5% | ||
| Q1 24 | -8.6% | 12.8% |
净利率BILLFSS
| Q4 25 | -0.6% | 10.2% | ||
| Q3 25 | -0.7% | 12.3% | ||
| Q2 25 | -1.8% | 12.6% | ||
| Q1 25 | -3.2% | 10.0% | ||
| Q4 24 | 9.3% | 10.6% | ||
| Q3 24 | 2.5% | 11.4% | ||
| Q2 24 | 2.2% | 12.4% | ||
| Q1 24 | 9.8% | 12.1% |
每股收益（稀释后）BILLFSS
| Q4 25 | $-0.03 | $0.99 | ||
| Q3 25 | $-0.03 | $1.11 | ||
| Q2 25 | $0.02 | $1.16 | ||
| Q1 25 | $-0.11 | $0.75 | ||
| Q4 24 | $-0.06 | $0.80 | ||
| Q3 24 | $0.08 | $0.87 | ||
| Q2 24 | $0.37 | $0.99 | ||
| Q1 24 | $0.00 | $0.84 |
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 | $63.7M |
| 总债务越低越好 | $1.8B | $564.6M |
| 股东权益账面价值 | $3.8B | $1.4B |
| 总资产 | $10.1B | $2.4B |
| 负债/权益比越低杠杆越低 | 0.48× | 0.41× |
8季度趋势，按日历期对齐
现金及短期投资BILLFSS
| Q4 25 | $1.1B | $63.7M | ||
| Q3 25 | $1.1B | $54.4M | ||
| Q2 25 | $1.0B | $64.7M | ||
| Q1 25 | $1.0B | $57.5M | ||
| Q4 24 | $1.6B | $91.1M | ||
| Q3 24 | $853.5M | $73.7M | ||
| Q2 24 | $985.9M | $48.6M | ||
| Q1 24 | $952.5M | $48.9M |
总债务BILLFSS
| Q4 25 | $1.8B | $564.6M | ||
| Q3 25 | $1.9B | $201.2M | ||
| Q2 25 | $1.7B | $258.3M | ||
| Q1 25 | $1.7B | $266.9M | ||
| Q4 24 | $1.7B | $204.4M | ||
| Q3 24 | $914.8M | $223.3M | ||
| Q2 24 | $914.0M | $248.8M | ||
| Q1 24 | $1.1B | $266.8M |
股东权益BILLFSS
| Q4 25 | $3.8B | $1.4B | ||
| Q3 25 | $3.9B | $1.3B | ||
| Q2 25 | $3.9B | $1.3B | ||
| Q1 25 | $3.9B | $1.2B | ||
| Q4 24 | $3.8B | $1.2B | ||
| Q3 24 | $4.0B | $1.1B | ||
| Q2 24 | $4.1B | $1.1B | ||
| Q1 24 | $4.1B | $1.0B |
总资产BILLFSS
| Q4 25 | $10.1B | $2.4B | ||
| Q3 25 | $10.2B | $1.9B | ||
| Q2 25 | $10.1B | $1.9B | ||
| Q1 25 | $9.6B | $1.9B | ||
| Q4 24 | $9.7B | $1.8B | ||
| Q3 24 | $9.0B | $1.7B | ||
| Q2 24 | $9.2B | $1.7B | ||
| Q1 24 | $9.1B | $1.7B |
负债/权益比BILLFSS
| Q4 25 | 0.48× | 0.41× | ||
| Q3 25 | 0.48× | 0.15× | ||
| Q2 25 | 0.44× | 0.20× | ||
| Q1 25 | 0.43× | 0.22× | ||
| Q4 24 | 0.44× | 0.17× | ||
| Q3 24 | 0.23× | 0.19× | ||
| Q2 24 | 0.22× | 0.23× | ||
| Q1 24 | 0.28× | 0.26× |
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 | $97.2M |
| 自由现金流经营现金流 - 资本支出 | $103.8M | $89.5M |
| 自由现金流率自由现金流/营收 | 25.0% | 15.0% |
| 资本支出强度资本支出/营收 | 0.4% | 1.3% |
| 现金转化率经营现金流/净利润 | — | 1.60× |
| 过去12个月自由现金流最近4个季度 | $378.8M | $227.1M |
8季度趋势，按日历期对齐
经营现金流BILLFSS
| Q4 25 | $105.3M | $97.2M | ||
| Q3 25 | $96.9M | $61.1M | ||
| Q2 25 | $83.8M | $59.7M | ||
| Q1 25 | $99.5M | $36.7M | ||
| Q4 24 | $78.7M | $90.6M | ||
| Q3 24 | $88.6M | $68.8M | ||
| Q2 24 | $78.6M | $40.6M | ||
| Q1 24 | $66.8M | $31.3M |
自由现金流BILLFSS
| Q4 25 | $103.8M | $89.5M | ||
| Q3 25 | $95.6M | $54.1M | ||
| Q2 25 | $81.0M | $52.4M | ||
| Q1 25 | $98.4M | $31.1M | ||
| Q4 24 | $78.3M | $82.1M | ||
| Q3 24 | $88.6M | $60.9M | ||
| Q2 24 | $78.4M | $24.8M | ||
| Q1 24 | $66.8M | $22.9M |
自由现金流率BILLFSS
| Q4 25 | 25.0% | 15.0% | ||
| Q3 25 | 24.1% | 9.7% | ||
| Q2 25 | 21.1% | 9.3% | ||
| Q1 25 | 27.5% | 6.7% | ||
| Q4 24 | 21.6% | 17.4% | ||
| Q3 24 | 24.7% | 12.8% | ||
| Q2 24 | 22.8% | 5.1% | ||
| Q1 24 | 20.7% | 5.4% |
资本支出强度BILLFSS
| Q4 25 | 0.4% | 1.3% | ||
| Q3 25 | 0.3% | 1.3% | ||
| Q2 25 | 0.7% | 1.3% | ||
| Q1 25 | 0.3% | 1.2% | ||
| Q4 24 | 0.1% | 1.8% | ||
| Q3 24 | 0.0% | 1.7% | ||
| Q2 24 | 0.1% | 3.2% | ||
| Q1 24 | 0.0% | 2.0% |
现金转化率BILLFSS
| Q4 25 | — | 1.60× | ||
| Q3 25 | — | 0.90× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.79× | ||
| Q4 24 | 2.35× | 1.81× | ||
| Q3 24 | 9.94× | 1.28× | ||
| Q2 24 | 10.35× | 0.67× | ||
| Q1 24 | 2.10× | 0.61× |
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% |
FSS
| Vehiclesandequipment | $403.4M | 68% |
| Parts | $66.8M | 11% |
| Publicsafetyandsecurityequipment | $62.2M | 10% |
| Rentalincome | $19.0M | 3% |
| Industrialsignalingequipment | $18.2M | 3% |
| Other | $14.9M | 2% |
| Warningsystems | $12.6M | 2% |
