vs
BILL Holdings, Inc.（BILL）与Mativ Holdings, Inc.（MATV）财务数据对比。点击上方公司名可切换其他公司
Mativ Holdings, Inc.的季度营收约是BILL Holdings, Inc.的1.1倍（$463.1M vs $414.7M），Mativ Holdings, Inc.净利率更高（21.8% vs -0.6%，领先22.4%），BILL Holdings, Inc.同比增速更快（14.4% vs 1.0%），BILL Holdings, Inc.自由现金流更多（$103.8M vs $8.0M），过去两年BILL Holdings, Inc.的营收复合增速更高（13.3% vs -3.8%）
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。
Mativ Holdings是一家全球特种材料制造商，主要生产高性能先进聚合物、无纺布、过滤解决方案及功能性涂层材料，服务医疗、工业、消费品、航空航天、能源等领域，业务遍及北美、欧洲及亚太地区。
BILL vs MATV — 直观对比
营收规模更大
MATV
是对方的1.1倍
$414.7M
营收增速更快
BILL
高出13.4%
1.0%
净利率更高
MATV
高出22.4%
-0.6%
自由现金流更多
BILL
多$95.8M
$8.0M
两年增速更快
BILL
近两年复合增速
-3.8%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $414.7M | $463.1M |
| 净利润 | $-2.6M | $100.8M |
| 毛利率 | 79.8% | 18.8% |
| 营业利润率 | -4.4% | 2.2% |
| 净利率 | -0.6% | 21.8% |
| 营收同比 | 14.4% | 1.0% |
| 净利润同比 | -107.7% | 6620.0% |
| 每股收益（稀释后） | $-0.03 | $1.87 |
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BILLMATV
| Q4 25 | $414.7M | $463.1M | ||
| Q3 25 | $395.7M | $513.7M | ||
| Q2 25 | $383.3M | $525.4M | ||
| Q1 25 | $358.2M | $484.8M | ||
| Q4 24 | $362.6M | $458.6M | ||
| Q3 24 | $358.4M | $498.5M | ||
| Q2 24 | $343.7M | $523.8M | ||
| Q1 24 | $323.0M | $500.2M |
净利润BILLMATV
| Q4 25 | $-2.6M | $100.8M | ||
| Q3 25 | $-3.0M | $-3.2M | ||
| Q2 25 | $-7.1M | $-9.5M | ||
| Q1 25 | $-11.6M | $-425.5M | ||
| Q4 24 | $33.5M | $1.5M | ||
| Q3 24 | $8.9M | $-20.8M | ||
| Q2 24 | $7.6M | $-1.4M | ||
| Q1 24 | $31.8M | $-28.0M |
毛利率BILLMATV
| Q4 25 | 79.8% | 18.8% | ||
| Q3 25 | 80.5% | 19.3% | ||
| Q2 25 | 80.8% | 19.7% | ||
| Q1 25 | 81.2% | 15.0% | ||
| Q4 24 | 81.6% | 16.9% | ||
| Q3 24 | 82.0% | 18.8% | ||
| Q2 24 | 81.0% | 20.8% | ||
| Q1 24 | 83.0% | 16.8% |
营业利润率BILLMATV
| Q4 25 | -4.4% | 2.2% | ||
| Q3 25 | -5.2% | 3.1% | ||
| Q2 25 | -5.8% | 3.8% | ||
| Q1 25 | -8.1% | -88.8% | ||
| Q4 24 | -6.0% | 0.6% | ||
| Q3 24 | -2.1% | 1.4% | ||
| Q2 24 | -6.5% | 2.0% | ||
| Q1 24 | -8.6% | -2.8% |
净利率BILLMATV
| Q4 25 | -0.6% | 21.8% | ||
| Q3 25 | -0.7% | -0.6% | ||
| Q2 25 | -1.8% | -1.8% | ||
| Q1 25 | -3.2% | -87.8% | ||
| Q4 24 | 9.3% | 0.3% | ||
| Q3 24 | 2.5% | -4.2% | ||
| Q2 24 | 2.2% | -0.3% | ||
| Q1 24 | 9.8% | -5.6% |
每股收益（稀释后）BILLMATV
| Q4 25 | $-0.03 | $1.87 | ||
| Q3 25 | $-0.03 | $-0.06 | ||
| Q2 25 | $0.02 | $-0.18 | ||
| Q1 25 | $-0.11 | $-7.82 | ||
| Q4 24 | $-0.06 | $0.03 | ||
| Q3 24 | $0.08 | $-0.38 | ||
| Q2 24 | $0.37 | $-0.03 | ||
| Q1 24 | $0.00 | $-0.52 |
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 | $84.2M |
| 总债务越低越好 | $1.8B | $1.0B |
| 股东权益账面价值 | $3.8B | $498.7M |
| 总资产 | $10.1B | $2.1B |
| 负债/权益比越低杠杆越低 | 0.48× | 2.07× |
8季度趋势，按日历期对齐
现金及短期投资BILLMATV
| Q4 25 | $1.1B | $84.2M | ||
| Q3 25 | $1.1B | $97.1M | ||
| Q2 25 | $1.0B | $95.6M | ||
| Q1 25 | $1.0B | $84.0M | ||
| Q4 24 | $1.6B | $94.3M | ||
| Q3 24 | $853.5M | $162.2M | ||
| Q2 24 | $985.9M | $133.4M | ||
| Q1 24 | $952.5M | $128.9M |
总债务BILLMATV
| Q4 25 | $1.8B | $1.0B | ||
| Q3 25 | $1.9B | $1.0B | ||
| Q2 25 | $1.7B | $1.1B | ||
| Q1 25 | $1.7B | $1.1B | ||
| Q4 24 | $1.7B | $1.1B | ||
| Q3 24 | $914.8M | $1.2B | ||
| Q2 24 | $914.0M | $1.2B | ||
| Q1 24 | $1.1B | $1.2B |
股东权益BILLMATV
| Q4 25 | $3.8B | $498.7M | ||
| Q3 25 | $3.9B | $397.4M | ||
| Q2 25 | $3.9B | $416.6M | ||
| Q1 25 | $3.9B | $428.2M | ||
| Q4 24 | $3.8B | $858.5M | ||
| Q3 24 | $4.0B | $882.3M | ||
| Q2 24 | $4.1B | $898.0M | ||
| Q1 24 | $4.1B | $906.9M |
总资产BILLMATV
| Q4 25 | $10.1B | $2.1B | ||
| Q3 25 | $10.2B | $2.0B | ||
| Q2 25 | $10.1B | $2.1B | ||
| Q1 25 | $9.6B | $2.1B | ||
| Q4 24 | $9.7B | $2.4B | ||
| Q3 24 | $9.0B | $2.6B | ||
| Q2 24 | $9.2B | $2.6B | ||
| Q1 24 | $9.1B | $2.7B |
负债/权益比BILLMATV
| Q4 25 | 0.48× | 2.07× | ||
| Q3 25 | 0.48× | 2.63× | ||
| Q2 25 | 0.44× | 2.66× | ||
| Q1 25 | 0.43× | 2.67× | ||
| Q4 24 | 0.44× | 1.30× | ||
| Q3 24 | 0.23× | 1.32× | ||
| Q2 24 | 0.22× | 1.29× | ||
| Q1 24 | 0.28× | 1.30× |
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 | $19.3M |
| 自由现金流经营现金流 - 资本支出 | $103.8M | $8.0M |
| 自由现金流率自由现金流/营收 | 25.0% | 1.7% |
| 资本支出强度资本支出/营收 | 0.4% | 2.4% |
| 现金转化率经营现金流/净利润 | — | 0.19× |
| 过去12个月自由现金流最近4个季度 | $378.8M | $93.8M |
8季度趋势，按日历期对齐
经营现金流BILLMATV
| Q4 25 | $105.3M | $19.3M | ||
| Q3 25 | $96.9M | $72.8M | ||
| Q2 25 | $83.8M | $57.6M | ||
| Q1 25 | $99.5M | $-15.9M | ||
| Q4 24 | $78.7M | $24.1M | ||
| Q3 24 | $88.6M | $37.6M | ||
| Q2 24 | $78.6M | $46.1M | ||
| Q1 24 | $66.8M | $-13.0M |
自由现金流BILLMATV
| Q4 25 | $103.8M | $8.0M | ||
| Q3 25 | $95.6M | $66.7M | ||
| Q2 25 | $81.0M | $48.9M | ||
| Q1 25 | $98.4M | $-29.8M | ||
| Q4 24 | $78.3M | $2.0M | ||
| Q3 24 | $88.6M | $25.5M | ||
| Q2 24 | $78.4M | $37.4M | ||
| Q1 24 | $66.8M | $-25.1M |
自由现金流率BILLMATV
| Q4 25 | 25.0% | 1.7% | ||
| Q3 25 | 24.1% | 13.0% | ||
| Q2 25 | 21.1% | 9.3% | ||
| Q1 25 | 27.5% | -6.1% | ||
| Q4 24 | 21.6% | 0.4% | ||
| Q3 24 | 24.7% | 5.1% | ||
| Q2 24 | 22.8% | 7.1% | ||
| Q1 24 | 20.7% | -5.0% |
资本支出强度BILLMATV
| Q4 25 | 0.4% | 2.4% | ||
| Q3 25 | 0.3% | 1.2% | ||
| Q2 25 | 0.7% | 1.7% | ||
| Q1 25 | 0.3% | 2.9% | ||
| Q4 24 | 0.1% | 4.8% | ||
| Q3 24 | 0.0% | 2.4% | ||
| Q2 24 | 0.1% | 1.7% | ||
| Q1 24 | 0.0% | 2.4% |
现金转化率BILLMATV
| Q4 25 | — | 0.19× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.35× | 16.07× | ||
| 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% |
MATV
| Other | $208.7M | 45% |
| SAS Segment | $157.4M | 34% |
| FAM Segment | $97.0M | 21% |
