vs
BILL Holdings, Inc.（BILL）与Regency Centers（REG）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Regency Centers的1.0倍（$414.7M vs $404.2M），Regency Centers净利率更高（50.1% vs -0.6%，领先50.7%），BILL Holdings, Inc.同比增速更快（14.4% vs 8.5%），过去两年BILL Holdings, Inc.的营收复合增速更高（13.3% vs 5.4%）
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。
Regency Centers是总部位于美国佛罗里达州杰克逊维尔的房地产投资信托基金，也是以超市为核心租户的大型购物中心运营商之一。截至2020年10月21日，公司共持有415处物业，总建筑面积达5600万平方英尺，知名资产包括Serramonte Center及Village District 30%的股权。
BILL vs REG — 直观对比
营收规模更大
BILL
是对方的1.0倍
$404.2M
营收增速更快
BILL
高出5.9%
8.5%
净利率更高
REG
高出50.7%
-0.6%
两年增速更快
BILL
近两年复合增速
5.4%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $414.7M | $404.2M |
| 净利润 | $-2.6M | $202.5M |
| 毛利率 | 79.8% | — |
| 营业利润率 | -4.4% | 71.0% |
| 净利率 | -0.6% | 50.1% |
| 营收同比 | 14.4% | 8.5% |
| 净利润同比 | -107.7% | 134.1% |
| 每股收益（稀释后） | $-0.03 | — |
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BILLREG
| Q4 25 | $414.7M | $404.2M | ||
| Q3 25 | $395.7M | $387.6M | ||
| Q2 25 | $383.3M | $380.8M | ||
| Q1 25 | $358.2M | $380.9M | ||
| Q4 24 | $362.6M | $372.5M | ||
| Q3 24 | $358.4M | $360.3M | ||
| Q2 24 | $343.7M | $357.3M | ||
| Q1 24 | $323.0M | $363.9M |
净利润BILLREG
| Q4 25 | $-2.6M | $202.5M | ||
| Q3 25 | $-3.0M | $109.4M | ||
| Q2 25 | $-7.1M | $106.0M | ||
| Q1 25 | $-11.6M | $109.6M | ||
| Q4 24 | $33.5M | $86.5M | ||
| Q3 24 | $8.9M | $101.5M | ||
| Q2 24 | $7.6M | $102.7M | ||
| Q1 24 | $31.8M | $109.8M |
毛利率BILLREG
| Q4 25 | 79.8% | — | ||
| Q3 25 | 80.5% | — | ||
| Q2 25 | 80.8% | — | ||
| Q1 25 | 81.2% | — | ||
| Q4 24 | 81.6% | — | ||
| Q3 24 | 82.0% | — | ||
| Q2 24 | 81.0% | — | ||
| Q1 24 | 83.0% | — |
营业利润率BILLREG
| Q4 25 | -4.4% | 71.0% | ||
| Q3 25 | -5.2% | 72.7% | ||
| Q2 25 | -5.8% | 73.8% | ||
| Q1 25 | -8.1% | 71.8% | ||
| Q4 24 | -6.0% | 71.1% | ||
| Q3 24 | -2.1% | 72.5% | ||
| Q2 24 | -6.5% | 72.3% | ||
| Q1 24 | -8.6% | 72.3% |
净利率BILLREG
| Q4 25 | -0.6% | 50.1% | ||
| Q3 25 | -0.7% | 28.2% | ||
| Q2 25 | -1.8% | 27.8% | ||
| Q1 25 | -3.2% | 28.8% | ||
| Q4 24 | 9.3% | 23.2% | ||
| Q3 24 | 2.5% | 28.2% | ||
| Q2 24 | 2.2% | 28.7% | ||
| Q1 24 | 9.8% | 30.2% |
每股收益（稀释后）BILLREG
| Q4 25 | $-0.03 | — | ||
| Q3 25 | $-0.03 | — | ||
| Q2 25 | $0.02 | — | ||
| Q1 25 | $-0.11 | — | ||
| Q4 24 | $-0.06 | — | ||
| Q3 24 | $0.08 | — | ||
| Q2 24 | $0.37 | — | ||
| Q1 24 | $0.00 | — |
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 | — |
| 总债务越低越好 | $1.8B | $4.7B |
| 股东权益账面价值 | $3.8B | $6.9B |
| 总资产 | $10.1B | $13.0B |
| 负债/权益比越低杠杆越低 | 0.48× | 0.69× |
8季度趋势，按日历期对齐
现金及短期投资BILLREG
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $853.5M | — | ||
| Q2 24 | $985.9M | — | ||
| Q1 24 | $952.5M | — |
总债务BILLREG
| Q4 25 | $1.8B | $4.7B | ||
| Q3 25 | $1.9B | $4.9B | ||
| Q2 25 | $1.7B | $4.8B | ||
| Q1 25 | $1.7B | $4.6B | ||
| Q4 24 | $1.7B | $4.4B | ||
| Q3 24 | $914.8M | $4.4B | ||
| Q2 24 | $914.0M | $4.4B | ||
| Q1 24 | $1.1B | $4.4B |
股东权益BILLREG
| Q4 25 | $3.8B | $6.9B | ||
| Q3 25 | $3.9B | $6.8B | ||
| Q2 25 | $3.9B | $6.7B | ||
| Q1 25 | $3.9B | $6.7B | ||
| Q4 24 | $3.8B | $6.7B | ||
| Q3 24 | $4.0B | $6.8B | ||
| Q2 24 | $4.1B | $6.8B | ||
| Q1 24 | $4.1B | $7.0B |
总资产BILLREG
| Q4 25 | $10.1B | $13.0B | ||
| Q3 25 | $10.2B | $13.1B | ||
| Q2 25 | $10.1B | $12.7B | ||
| Q1 25 | $9.6B | $12.6B | ||
| Q4 24 | $9.7B | $12.4B | ||
| Q3 24 | $9.0B | $12.4B | ||
| Q2 24 | $9.2B | $12.4B | ||
| Q1 24 | $9.1B | $12.7B |
负债/权益比BILLREG
| Q4 25 | 0.48× | 0.69× | ||
| Q3 25 | 0.48× | 0.72× | ||
| Q2 25 | 0.44× | 0.72× | ||
| Q1 25 | 0.43× | 0.69× | ||
| Q4 24 | 0.44× | 0.66× | ||
| Q3 24 | 0.23× | 0.65× | ||
| Q2 24 | 0.22× | 0.64× | ||
| Q1 24 | 0.28× | 0.63× |
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 | $203.9M |
| 自由现金流经营现金流 - 资本支出 | $103.8M | — |
| 自由现金流率自由现金流/营收 | 25.0% | — |
| 资本支出强度资本支出/营收 | 0.4% | — |
| 现金转化率经营现金流/净利润 | — | 1.01× |
| 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BILLREG
| Q4 25 | $105.3M | $203.9M | ||
| Q3 25 | $96.9M | $218.7M | ||
| Q2 25 | $83.8M | $244.0M | ||
| Q1 25 | $99.5M | $161.0M | ||
| Q4 24 | $78.7M | $191.4M | ||
| Q3 24 | $88.6M | $227.6M | ||
| Q2 24 | $78.6M | $203.5M | ||
| Q1 24 | $66.8M | $167.8M |
自由现金流BILLREG
| Q4 25 | $103.8M | — | ||
| Q3 25 | $95.6M | — | ||
| Q2 25 | $81.0M | — | ||
| Q1 25 | $98.4M | — | ||
| Q4 24 | $78.3M | — | ||
| Q3 24 | $88.6M | — | ||
| Q2 24 | $78.4M | — | ||
| Q1 24 | $66.8M | — |
自由现金流率BILLREG
| Q4 25 | 25.0% | — | ||
| Q3 25 | 24.1% | — | ||
| Q2 25 | 21.1% | — | ||
| Q1 25 | 27.5% | — | ||
| Q4 24 | 21.6% | — | ||
| Q3 24 | 24.7% | — | ||
| Q2 24 | 22.8% | — | ||
| Q1 24 | 20.7% | — |
资本支出强度BILLREG
| Q4 25 | 0.4% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.1% | — | ||
| Q1 24 | 0.0% | — |
现金转化率BILLREG
| Q4 25 | — | 1.01× | ||
| Q3 25 | — | 2.00× | ||
| Q2 25 | — | 2.30× | ||
| Q1 25 | — | 1.47× | ||
| Q4 24 | 2.35× | 2.21× | ||
| Q3 24 | 9.94× | 2.24× | ||
| Q2 24 | 10.35× | 1.98× | ||
| 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% |
REG
| Shopping Centers | $418.0M | 103% |
| Propertymanagementservices | $4.1M | 1% |
| Assetmanagementservices | $1.7M | 0% |
