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BILL Holdings, Inc.（BILL）与Guidewire Software, Inc.（GWRE）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Guidewire Software, Inc.的1.2倍（$414.7M vs $332.6M），Guidewire Software, Inc.净利率更高（9.4% vs -0.6%，领先10.0%），Guidewire Software, Inc.同比增速更快（26.5% vs 14.4%），BILL Holdings, Inc.自由现金流更多（$103.8M vs $-72.3M），过去两年Guidewire Software, Inc.的营收复合增速更高（17.5% 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。
Guidewire Software是总部位于美国加利福尼亚州圣马特奥的软件企业，面向美国及全球的财产与意外伤害保险经营机构提供专业行业平台，支持险企优化业务流程、推进数字化升级，满足保险行业的各类专业化运营需求。
BILL vs GWRE — 直观对比
营收规模更大
BILL
是对方的1.2倍
$332.6M
营收增速更快
GWRE
高出12.2%
14.4%
净利率更高
GWRE
高出10.0%
-0.6%
自由现金流更多
BILL
多$176.1M
$-72.3M
两年增速更快
GWRE
近两年复合增速
13.3%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $414.7M | $332.6M |
| 净利润 | $-2.6M | $31.3M |
| 毛利率 | 79.8% | 63.0% |
| 营业利润率 | -4.4% | 5.6% |
| 净利率 | -0.6% | 9.4% |
| 营收同比 | 14.4% | 26.5% |
| 净利润同比 | -107.7% | 242.6% |
| 每股收益（稀释后） | $-0.03 | $0.36 |
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BILLGWRE
| Q4 25 | $414.7M | $332.6M | ||
| Q3 25 | $395.7M | $356.6M | ||
| Q2 25 | $383.3M | $293.5M | ||
| Q1 25 | $358.2M | $289.5M | ||
| Q4 24 | $362.6M | $262.9M | ||
| Q3 24 | $358.4M | $291.5M | ||
| Q2 24 | $343.7M | $240.7M | ||
| Q1 24 | $323.0M | $240.9M |
净利润BILLGWRE
| Q4 25 | $-2.6M | $31.3M | ||
| Q3 25 | $-3.0M | $52.0M | ||
| Q2 25 | $-7.1M | $46.0M | ||
| Q1 25 | $-11.6M | $-37.3M | ||
| Q4 24 | $33.5M | $9.1M | ||
| Q3 24 | $8.9M | $16.8M | ||
| Q2 24 | $7.6M | $-5.5M | ||
| Q1 24 | $31.8M | $9.7M |
毛利率BILLGWRE
| Q4 25 | 79.8% | 63.0% | ||
| Q3 25 | 80.5% | 65.0% | ||
| Q2 25 | 80.8% | 62.2% | ||
| Q1 25 | 81.2% | 61.9% | ||
| Q4 24 | 81.6% | 60.2% | ||
| Q3 24 | 82.0% | 64.0% | ||
| Q2 24 | 81.0% | 59.1% | ||
| Q1 24 | 83.0% | 59.1% |
营业利润率BILLGWRE
| Q4 25 | -4.4% | 5.6% | ||
| Q3 25 | -5.2% | 8.3% | ||
| Q2 25 | -5.8% | 1.5% | ||
| Q1 25 | -8.1% | 4.0% | ||
| Q4 24 | -6.0% | -1.8% | ||
| Q3 24 | -2.1% | 3.5% | ||
| Q2 24 | -6.5% | -6.9% | ||
| Q1 24 | -8.6% | -5.2% |
净利率BILLGWRE
| Q4 25 | -0.6% | 9.4% | ||
| Q3 25 | -0.7% | 14.6% | ||
| Q2 25 | -1.8% | 15.7% | ||
| Q1 25 | -3.2% | -12.9% | ||
| Q4 24 | 9.3% | 3.5% | ||
| Q3 24 | 2.5% | 5.7% | ||
| Q2 24 | 2.2% | -2.3% | ||
| Q1 24 | 9.8% | 4.0% |
每股收益（稀释后）BILLGWRE
| Q4 25 | $-0.03 | $0.36 | ||
| Q3 25 | $-0.03 | $0.61 | ||
| Q2 25 | $0.02 | $0.54 | ||
| Q1 25 | $-0.11 | $-0.45 | ||
| Q4 24 | $-0.06 | $0.11 | ||
| Q3 24 | $0.08 | $0.21 | ||
| Q2 24 | $0.37 | $-0.07 | ||
| Q1 24 | $0.00 | $0.12 |
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 | $1.0B |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $3.8B | $1.5B |
| 总资产 | $10.1B | $2.6B |
| 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BILLGWRE
| Q4 25 | $1.1B | $1.0B | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $1.0B | $920.4M | ||
| Q1 25 | $1.0B | $1.2B | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $853.5M | $1.0B | ||
| Q2 24 | $985.9M | $782.3M | ||
| Q1 24 | $952.5M | $777.6M |
总债务BILLGWRE
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $914.8M | $398.9M | ||
| Q2 24 | $914.0M | — | ||
| Q1 24 | $1.1B | — |
股东权益BILLGWRE
| Q4 25 | $3.8B | $1.5B | ||
| Q3 25 | $3.9B | $1.5B | ||
| Q2 25 | $3.9B | $1.4B | ||
| Q1 25 | $3.9B | $1.3B | ||
| Q4 24 | $3.8B | $1.3B | ||
| Q3 24 | $4.0B | $1.3B | ||
| Q2 24 | $4.1B | $1.3B | ||
| Q1 24 | $4.1B | $1.3B |
总资产BILLGWRE
| Q4 25 | $10.1B | $2.6B | ||
| Q3 25 | $10.2B | $2.7B | ||
| Q2 25 | $10.1B | $2.5B | ||
| Q1 25 | $9.6B | $2.5B | ||
| Q4 24 | $9.7B | $2.6B | ||
| Q3 24 | $9.0B | $2.2B | ||
| Q2 24 | $9.2B | $2.0B | ||
| Q1 24 | $9.1B | $2.0B |
负债/权益比BILLGWRE
| Q4 25 | 0.48× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.43× | — | ||
| Q4 24 | 0.44× | — | ||
| Q3 24 | 0.23× | 0.30× | ||
| 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 | $-67.4M |
| 自由现金流经营现金流 - 资本支出 | $103.8M | $-72.3M |
| 自由现金流率自由现金流/营收 | 25.0% | -21.7% |
| 资本支出强度资本支出/营收 | 0.4% | 1.5% |
| 现金转化率经营现金流/净利润 | — | -2.15× |
| 过去12个月自由现金流最近4个季度 | $378.8M | $286.0M |
8季度趋势，按日历期对齐
经营现金流BILLGWRE
| Q4 25 | $105.3M | $-67.4M | ||
| Q3 25 | $96.9M | $244.8M | ||
| Q2 25 | $83.8M | $32.4M | ||
| Q1 25 | $99.5M | $86.0M | ||
| Q4 24 | $78.7M | $-62.3M | ||
| Q3 24 | $88.6M | $193.8M | ||
| Q2 24 | $78.6M | $4.8M | ||
| Q1 24 | $66.8M | $69.3M |
自由现金流BILLGWRE
| Q4 25 | $103.8M | $-72.3M | ||
| Q3 25 | $95.6M | $241.4M | ||
| Q2 25 | $81.0M | $31.6M | ||
| Q1 25 | $98.4M | $85.2M | ||
| Q4 24 | $78.3M | $-63.1M | ||
| Q3 24 | $88.6M | $192.1M | ||
| Q2 24 | $78.4M | $4.1M | ||
| Q1 24 | $66.8M | $66.3M |
自由现金流率BILLGWRE
| Q4 25 | 25.0% | -21.7% | ||
| Q3 25 | 24.1% | 67.7% | ||
| Q2 25 | 21.1% | 10.8% | ||
| Q1 25 | 27.5% | 29.4% | ||
| Q4 24 | 21.6% | -24.0% | ||
| Q3 24 | 24.7% | 65.9% | ||
| Q2 24 | 22.8% | 1.7% | ||
| Q1 24 | 20.7% | 27.5% |
资本支出强度BILLGWRE
| Q4 25 | 0.4% | 1.5% | ||
| Q3 25 | 0.3% | 1.0% | ||
| Q2 25 | 0.7% | 0.2% | ||
| Q1 25 | 0.3% | 0.3% | ||
| Q4 24 | 0.1% | 0.3% | ||
| Q3 24 | 0.0% | 0.6% | ||
| Q2 24 | 0.1% | 0.3% | ||
| Q1 24 | 0.0% | 1.2% |
现金转化率BILLGWRE
| Q4 25 | — | -2.15× | ||
| Q3 25 | — | 4.71× | ||
| Q2 25 | — | 0.70× | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.35× | -6.82× | ||
| Q3 24 | 9.94× | 11.56× | ||
| Q2 24 | 10.35× | — | ||
| Q1 24 | 2.10× | 7.15× |
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% |
GWRE
| Subscription | $222.7M | 67% |
| Services | $62.4M | 19% |
| Other | $33.1M | 10% |
| Support | $14.5M | 4% |
