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BILL Holdings, Inc.（BILL）与摩丁制造（MOD）财务数据对比。点击上方公司名可切换其他公司
摩丁制造的季度营收约是BILL Holdings, Inc.的1.9倍（$805.0M vs $414.7M），BILL Holdings, Inc.净利率更高（-0.6% vs -5.9%，领先5.3%），摩丁制造同比增速更快（30.5% vs 14.4%），BILL Holdings, Inc.自由现金流更多（$103.8M vs $-17.1M），过去两年摩丁制造的营收复合增速更高（15.5% 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。
摩丁制造是1916年成立于美国的热管理企业。创始人亚瑟·B·摩丁获拖拉机Spirex散热器专利后创立公司，曾为福特T型车生产Turbotube散热器，1941年在威斯康星州拉辛建成全球首个车用风洞，二战期间为P-51野马战斗机供应后冷却器。
BILL vs MOD — 直观对比
营收规模更大
MOD
是对方的1.9倍
$414.7M
营收增速更快
MOD
高出16.1%
14.4%
净利率更高
BILL
高出5.3%
-5.9%
自由现金流更多
BILL
多$120.9M
$-17.1M
两年增速更快
MOD
近两年复合增速
13.3%
损益表 — Q2 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $414.7M | $805.0M |
| 净利润 | $-2.6M | $-47.4M |
| 毛利率 | 79.8% | 23.1% |
| 营业利润率 | -4.4% | 11.1% |
| 净利率 | -0.6% | -5.9% |
| 营收同比 | 14.4% | 30.5% |
| 净利润同比 | -107.7% | -215.6% |
| 每股收益（稀释后） | $-0.03 | $-0.90 |
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BILLMOD
| Q4 25 | $414.7M | $805.0M | ||
| Q3 25 | $395.7M | $738.9M | ||
| Q2 25 | $383.3M | $682.8M | ||
| Q1 25 | $358.2M | $647.2M | ||
| Q4 24 | $362.6M | $616.8M | ||
| Q3 24 | $358.4M | $658.0M | ||
| Q2 24 | $343.7M | $661.5M | ||
| Q1 24 | $323.0M | $603.5M |
净利润BILLMOD
| Q4 25 | $-2.6M | $-47.4M | ||
| Q3 25 | $-3.0M | $44.4M | ||
| Q2 25 | $-7.1M | $51.2M | ||
| Q1 25 | $-11.6M | $49.6M | ||
| Q4 24 | $33.5M | $41.0M | ||
| Q3 24 | $8.9M | $46.1M | ||
| Q2 24 | $7.6M | $47.3M | ||
| Q1 24 | $31.8M | $25.8M |
毛利率BILLMOD
| Q4 25 | 79.8% | 23.1% | ||
| Q3 25 | 80.5% | 22.3% | ||
| Q2 25 | 80.8% | 24.2% | ||
| Q1 25 | 81.2% | 25.6% | ||
| Q4 24 | 81.6% | 24.3% | ||
| Q3 24 | 82.0% | 25.2% | ||
| Q2 24 | 81.0% | 24.6% | ||
| Q1 24 | 83.0% | 22.4% |
营业利润率BILLMOD
| Q4 25 | -4.4% | 11.1% | ||
| Q3 25 | -5.2% | 9.9% | ||
| Q2 25 | -5.8% | 11.1% | ||
| Q1 25 | -8.1% | 11.5% | ||
| Q4 24 | -6.0% | 9.6% | ||
| Q3 24 | -2.1% | 11.4% | ||
| Q2 24 | -6.5% | 11.2% | ||
| Q1 24 | -8.6% | 7.8% |
净利率BILLMOD
| Q4 25 | -0.6% | -5.9% | ||
| Q3 25 | -0.7% | 6.0% | ||
| Q2 25 | -1.8% | 7.5% | ||
| Q1 25 | -3.2% | 7.7% | ||
| Q4 24 | 9.3% | 6.6% | ||
| Q3 24 | 2.5% | 7.0% | ||
| Q2 24 | 2.2% | 7.2% | ||
| Q1 24 | 9.8% | 4.3% |
每股收益（稀释后）BILLMOD
| Q4 25 | $-0.03 | $-0.90 | ||
| Q3 25 | $-0.03 | $0.83 | ||
| Q2 25 | $0.02 | $0.95 | ||
| Q1 25 | $-0.11 | $0.92 | ||
| Q4 24 | $-0.06 | $0.76 | ||
| Q3 24 | $0.08 | $0.86 | ||
| Q2 24 | $0.37 | $0.88 | ||
| Q1 24 | $0.00 | $0.48 |
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 | $98.7M |
| 总债务越低越好 | $1.8B | $570.7M |
| 股东权益账面价值 | $3.8B | $1.1B |
| 总资产 | $10.1B | $2.5B |
| 负债/权益比越低杠杆越低 | 0.48× | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资BILLMOD
| Q4 25 | $1.1B | $98.7M | ||
| Q3 25 | $1.1B | $83.8M | ||
| Q2 25 | $1.0B | $124.5M | ||
| Q1 25 | $1.0B | $71.6M | ||
| Q4 24 | $1.6B | $83.8M | ||
| Q3 24 | $853.5M | $78.6M | ||
| Q2 24 | $985.9M | $72.9M | ||
| Q1 24 | $952.5M | $60.1M |
总债务BILLMOD
| Q4 25 | $1.8B | $570.7M | ||
| Q3 25 | $1.9B | $525.8M | ||
| Q2 25 | $1.7B | $482.1M | ||
| Q1 25 | $1.7B | $296.7M | ||
| Q4 24 | $1.7B | $330.0M | ||
| Q3 24 | $914.8M | $359.1M | ||
| Q2 24 | $914.0M | $405.7M | ||
| Q1 24 | $1.1B | $399.9M |
股东权益BILLMOD
| Q4 25 | $3.8B | $1.1B | ||
| Q3 25 | $3.9B | $1.1B | ||
| Q2 25 | $3.9B | $1.0B | ||
| Q1 25 | $3.9B | $910.2M | ||
| Q4 24 | $3.8B | $855.1M | ||
| Q3 24 | $4.0B | $858.8M | ||
| Q2 24 | $4.1B | $788.4M | ||
| Q1 24 | $4.1B | $747.6M |
总资产BILLMOD
| Q4 25 | $10.1B | $2.5B | ||
| Q3 25 | $10.2B | $2.4B | ||
| Q2 25 | $10.1B | $2.2B | ||
| Q1 25 | $9.6B | $1.9B | ||
| Q4 24 | $9.7B | $1.8B | ||
| Q3 24 | $9.0B | $1.9B | ||
| Q2 24 | $9.2B | $1.9B | ||
| Q1 24 | $9.1B | $1.9B |
负债/权益比BILLMOD
| Q4 25 | 0.48× | 0.51× | ||
| Q3 25 | 0.48× | 0.50× | ||
| Q2 25 | 0.44× | 0.48× | ||
| Q1 25 | 0.43× | 0.33× | ||
| Q4 24 | 0.44× | 0.39× | ||
| Q3 24 | 0.23× | 0.42× | ||
| Q2 24 | 0.22× | 0.51× | ||
| Q1 24 | 0.28× | 0.53× |
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 | $24.7M |
| 自由现金流经营现金流 - 资本支出 | $103.8M | $-17.1M |
| 自由现金流率自由现金流/营收 | 25.0% | -2.1% |
| 资本支出强度资本支出/营收 | 0.4% | 5.2% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $378.8M | $-20.3M |
8季度趋势，按日历期对齐
经营现金流BILLMOD
| Q4 25 | $105.3M | $24.7M | ||
| Q3 25 | $96.9M | $1.4M | ||
| Q2 25 | $83.8M | $27.7M | ||
| Q1 25 | $99.5M | $54.8M | ||
| Q4 24 | $78.7M | $60.7M | ||
| Q3 24 | $88.6M | $57.3M | ||
| Q2 24 | $78.6M | $40.5M | ||
| Q1 24 | $66.8M | $39.6M |
自由现金流BILLMOD
| Q4 25 | $103.8M | $-17.1M | ||
| Q3 25 | $95.6M | $-30.5M | ||
| Q2 25 | $81.0M | $200.0K | ||
| Q1 25 | $98.4M | $27.1M | ||
| Q4 24 | $78.3M | $44.7M | ||
| Q3 24 | $88.6M | $43.8M | ||
| Q2 24 | $78.4M | $13.7M | ||
| Q1 24 | $66.8M | $-4.3M |
自由现金流率BILLMOD
| Q4 25 | 25.0% | -2.1% | ||
| Q3 25 | 24.1% | -4.1% | ||
| Q2 25 | 21.1% | 0.0% | ||
| Q1 25 | 27.5% | 4.2% | ||
| Q4 24 | 21.6% | 7.2% | ||
| Q3 24 | 24.7% | 6.7% | ||
| Q2 24 | 22.8% | 2.1% | ||
| Q1 24 | 20.7% | -0.7% |
资本支出强度BILLMOD
| Q4 25 | 0.4% | 5.2% | ||
| Q3 25 | 0.3% | 4.3% | ||
| Q2 25 | 0.7% | 4.0% | ||
| Q1 25 | 0.3% | 4.3% | ||
| Q4 24 | 0.1% | 2.6% | ||
| Q3 24 | 0.0% | 2.1% | ||
| Q2 24 | 0.1% | 4.1% | ||
| Q1 24 | 0.0% | 7.3% |
现金转化率BILLMOD
| Q4 25 | — | — | ||
| Q3 25 | — | 0.03× | ||
| Q2 25 | — | 0.54× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | 2.35× | 1.48× | ||
| Q3 24 | 9.94× | 1.24× | ||
| Q2 24 | 10.35× | 0.86× | ||
| Q1 24 | 2.10× | 1.53× |
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% |
MOD
| Data Centers | $296.9M | 37% |
| Performance Technologies | $266.0M | 33% |
| Hvac Technologies | $107.1M | 13% |
| Air Cooled | $92.4M | 11% |
| Lb White | $25.6M | 3% |
| Climate By Design | $10.2M | 1% |
| Absolutaire | $7.0M | 1% |
