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BILL Holdings, Inc.（BILL）与UiPath, Inc.（PATH）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UiPath, Inc.的1.0倍（$414.7M vs $411.1M），UiPath, Inc.净利率更高（48.4% vs -0.6%，领先49.0%），UiPath, Inc.同比增速更快（15.9% vs 14.4%），BILL Holdings, Inc.自由现金流更多（$103.8M vs $25.1M），过去两年BILL Holdings, Inc.的营收复合增速更高（13.3% vs 0.7%）
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。
UiPath是一家全球化软件企业，专注于开发人工智能、智能自动化及流程编排类软件，其产品支持用户搭建与调度AI代理，实现复杂业务流程、工作流的自动化运行，助力各行业客户提升运营效率、降低人力成本。
BILL vs PATH — 直观对比
营收规模更大
BILL
是对方的1.0倍
$411.1M
营收增速更快
PATH
高出1.5%
14.4%
净利率更高
PATH
高出49.0%
-0.6%
自由现金流更多
BILL
多$78.7M
$25.1M
两年增速更快
BILL
近两年复合增速
0.7%
损益表 — Q2 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $414.7M | $411.1M |
| 净利润 | $-2.6M | $198.8M |
| 毛利率 | 79.8% | 83.3% |
| 营业利润率 | -4.4% | 3.2% |
| 净利率 | -0.6% | 48.4% |
| 营收同比 | 14.4% | 15.9% |
| 净利润同比 | -107.7% | 1966.2% |
| 每股收益（稀释后） | $-0.03 | $0.37 |
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BILLPATH
| Q4 25 | $414.7M | $411.1M | ||
| Q3 25 | $395.7M | $361.7M | ||
| Q2 25 | $383.3M | $356.6M | ||
| Q1 25 | $358.2M | $423.6M | ||
| Q4 24 | $362.6M | $354.7M | ||
| Q3 24 | $358.4M | $316.3M | ||
| Q2 24 | $343.7M | $335.1M | ||
| Q1 24 | $323.0M | $405.3M |
净利润BILLPATH
| Q4 25 | $-2.6M | $198.8M | ||
| Q3 25 | $-3.0M | $1.6M | ||
| Q2 25 | $-7.1M | $-22.6M | ||
| Q1 25 | $-11.6M | $51.8M | ||
| Q4 24 | $33.5M | $-10.7M | ||
| Q3 24 | $8.9M | $-86.1M | ||
| Q2 24 | $7.6M | $-28.7M | ||
| Q1 24 | $31.8M | $33.9M |
毛利率BILLPATH
| Q4 25 | 79.8% | 83.3% | ||
| Q3 25 | 80.5% | 82.2% | ||
| Q2 25 | 80.8% | 82.1% | ||
| Q1 25 | 81.2% | 84.8% | ||
| Q4 24 | 81.6% | 82.0% | ||
| Q3 24 | 82.0% | 80.0% | ||
| Q2 24 | 81.0% | 83.5% | ||
| Q1 24 | 83.0% | 86.8% |
营业利润率BILLPATH
| Q4 25 | -4.4% | 3.2% | ||
| Q3 25 | -5.2% | -5.6% | ||
| Q2 25 | -5.8% | -4.6% | ||
| Q1 25 | -8.1% | 7.9% | ||
| Q4 24 | -6.0% | -12.2% | ||
| Q3 24 | -2.1% | -32.7% | ||
| Q2 24 | -6.5% | -14.8% | ||
| Q1 24 | -8.6% | 3.7% |
净利率BILLPATH
| Q4 25 | -0.6% | 48.4% | ||
| Q3 25 | -0.7% | 0.4% | ||
| Q2 25 | -1.8% | -6.3% | ||
| Q1 25 | -3.2% | 12.2% | ||
| Q4 24 | 9.3% | -3.0% | ||
| Q3 24 | 2.5% | -27.2% | ||
| Q2 24 | 2.2% | -8.6% | ||
| Q1 24 | 9.8% | 8.4% |
每股收益（稀释后）BILLPATH
| Q4 25 | $-0.03 | $0.37 | ||
| Q3 25 | $-0.03 | $0.00 | ||
| Q2 25 | $0.02 | $-0.04 | ||
| Q1 25 | $-0.11 | $0.09 | ||
| Q4 24 | $-0.06 | $-0.02 | ||
| Q3 24 | $0.08 | $-0.15 | ||
| Q2 24 | $0.37 | $-0.05 | ||
| Q1 24 | $0.00 | $0.07 |
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 | $1.4B |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $3.8B | $1.9B |
| 总资产 | $10.1B | $2.9B |
| 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BILLPATH
| Q4 25 | $1.1B | $1.4B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $1.0B | $1.6B | ||
| Q1 25 | $1.0B | $1.6B | ||
| Q4 24 | $1.6B | $1.6B | ||
| Q3 24 | $853.5M | $1.7B | ||
| Q2 24 | $985.9M | $1.9B | ||
| Q1 24 | $952.5M | $1.9B |
总债务BILLPATH
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $914.8M | — | ||
| Q2 24 | $914.0M | — | ||
| Q1 24 | $1.1B | — |
股东权益BILLPATH
| Q4 25 | $3.8B | $1.9B | ||
| Q3 25 | $3.9B | $1.7B | ||
| Q2 25 | $3.9B | $1.7B | ||
| Q1 25 | $3.9B | $1.8B | ||
| Q4 24 | $3.8B | $1.7B | ||
| Q3 24 | $4.0B | $1.8B | ||
| Q2 24 | $4.1B | $2.0B | ||
| Q1 24 | $4.1B | $2.0B |
总资产BILLPATH
| Q4 25 | $10.1B | $2.9B | ||
| Q3 25 | $10.2B | $2.6B | ||
| Q2 25 | $10.1B | $2.6B | ||
| Q1 25 | $9.6B | $2.9B | ||
| Q4 24 | $9.7B | $2.7B | ||
| Q3 24 | $9.0B | $2.7B | ||
| Q2 24 | $9.2B | $2.8B | ||
| Q1 24 | $9.1B | $3.0B |
负债/权益比BILLPATH
| Q4 25 | 0.48× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.43× | — | ||
| Q4 24 | 0.44× | — | ||
| Q3 24 | 0.23× | — | ||
| 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 | $28.3M |
| 自由现金流经营现金流 - 资本支出 | $103.8M | $25.1M |
| 自由现金流率自由现金流/营收 | 25.0% | 6.1% |
| 资本支出强度资本支出/营收 | 0.4% | 0.8% |
| 现金转化率经营现金流/净利润 | — | 0.14× |
| 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BILLPATH
| Q4 25 | $105.3M | $28.3M | ||
| Q3 25 | $96.9M | $41.6M | ||
| Q2 25 | $83.8M | $119.0M | ||
| Q1 25 | $99.5M | $146.1M | ||
| Q4 24 | $78.7M | $28.1M | ||
| Q3 24 | $88.6M | $46.4M | ||
| Q2 24 | $78.6M | $100.0M | ||
| Q1 24 | $66.8M | $145.6M |
自由现金流BILLPATH
| Q4 25 | $103.8M | $25.1M | ||
| Q3 25 | $95.6M | — | ||
| Q2 25 | $81.0M | $106.2M | ||
| Q1 25 | $98.4M | $138.7M | ||
| Q4 24 | $78.3M | $23.2M | ||
| Q3 24 | $88.6M | $45.0M | ||
| Q2 24 | $78.4M | $98.8M | ||
| Q1 24 | $66.8M | $141.8M |
自由现金流率BILLPATH
| Q4 25 | 25.0% | 6.1% | ||
| Q3 25 | 24.1% | — | ||
| Q2 25 | 21.1% | 29.8% | ||
| Q1 25 | 27.5% | 32.7% | ||
| Q4 24 | 21.6% | 6.5% | ||
| Q3 24 | 24.7% | 14.2% | ||
| Q2 24 | 22.8% | 29.5% | ||
| Q1 24 | 20.7% | 35.0% |
资本支出强度BILLPATH
| Q4 25 | 0.4% | 0.8% | ||
| Q3 25 | 0.3% | 0.0% | ||
| Q2 25 | 0.7% | 3.6% | ||
| Q1 25 | 0.3% | 1.7% | ||
| Q4 24 | 0.1% | 1.4% | ||
| Q3 24 | 0.0% | 0.4% | ||
| Q2 24 | 0.1% | 0.4% | ||
| Q1 24 | 0.0% | 0.9% |
现金转化率BILLPATH
| Q4 25 | — | 0.14× | ||
| Q3 25 | — | 26.25× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 2.82× | ||
| Q4 24 | 2.35× | — | ||
| Q3 24 | 9.94× | — | ||
| Q2 24 | 10.35× | — | ||
| Q1 24 | 2.10× | 4.29× |
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% |
PATH
| Subscription Services | $247.6M | 60% |
| License | $150.0M | 36% |
| Professional Services And Other | $13.5M | 3% |
