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BILL Holdings, Inc.（BILL）与Royalty Pharma plc（RPRX）财务数据对比。点击上方公司名可切换其他公司
Royalty Pharma plc的季度营收约是BILL Holdings, Inc.的1.5倍（$622.0M vs $414.7M），Royalty Pharma plc净利率更高（34.4% vs -0.6%，领先35.1%），BILL Holdings, Inc.同比增速更快（14.4% vs 4.8%），过去两年BILL Holdings, Inc.的营收复合增速更高（13.3% vs 4.6%）
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。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
BILL vs RPRX — 直观对比
营收规模更大
RPRX
是对方的1.5倍
$414.7M
营收增速更快
BILL
高出9.6%
4.8%
净利率更高
RPRX
高出35.1%
-0.6%
两年增速更快
BILL
近两年复合增速
4.6%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $414.7M | $622.0M |
| 净利润 | $-2.6M | $214.2M |
| 毛利率 | 79.8% | — |
| 营业利润率 | -4.4% | 62.4% |
| 净利率 | -0.6% | 34.4% |
| 营收同比 | 14.4% | 4.8% |
| 净利润同比 | -107.7% | 2.9% |
| 每股收益（稀释后） | $-0.03 | $0.49 |
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BILLRPRX
| Q4 25 | $414.7M | $622.0M | ||
| Q3 25 | $395.7M | $609.3M | ||
| Q2 25 | $383.3M | $578.7M | ||
| Q1 25 | $358.2M | $568.2M | ||
| Q4 24 | $362.6M | $593.6M | ||
| Q3 24 | $358.4M | $564.7M | ||
| Q2 24 | $343.7M | $537.3M | ||
| Q1 24 | $323.0M | $568.0M |
净利润BILLRPRX
| Q4 25 | $-2.6M | $214.2M | ||
| Q3 25 | $-3.0M | $288.2M | ||
| Q2 25 | $-7.1M | $30.2M | ||
| Q1 25 | $-11.6M | $238.3M | ||
| Q4 24 | $33.5M | $208.2M | ||
| Q3 24 | $8.9M | $544.0M | ||
| Q2 24 | $7.6M | $102.0M | ||
| Q1 24 | $31.8M | $4.8M |
毛利率BILLRPRX
| 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BILLRPRX
| Q4 25 | -4.4% | 62.4% | ||
| Q3 25 | -5.2% | 70.1% | ||
| Q2 25 | -5.8% | 36.3% | ||
| Q1 25 | -8.1% | 94.0% | ||
| Q4 24 | -6.0% | 60.9% | ||
| Q3 24 | -2.1% | — | ||
| Q2 24 | -6.5% | 50.2% | ||
| Q1 24 | -8.6% | -13.0% |
净利率BILLRPRX
| Q4 25 | -0.6% | 34.4% | ||
| Q3 25 | -0.7% | 47.3% | ||
| Q2 25 | -1.8% | 5.2% | ||
| Q1 25 | -3.2% | 41.9% | ||
| Q4 24 | 9.3% | 35.1% | ||
| Q3 24 | 2.5% | 96.3% | ||
| Q2 24 | 2.2% | 19.0% | ||
| Q1 24 | 9.8% | 0.8% |
每股收益（稀释后）BILLRPRX
| Q4 25 | $-0.03 | $0.49 | ||
| Q3 25 | $-0.03 | $0.67 | ||
| Q2 25 | $0.02 | $0.07 | ||
| Q1 25 | $-0.11 | $0.55 | ||
| Q4 24 | $-0.06 | $0.46 | ||
| Q3 24 | $0.08 | $1.21 | ||
| Q2 24 | $0.37 | $0.23 | ||
| Q1 24 | $0.00 | $0.01 |
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 | $618.7M |
| 总债务越低越好 | $1.8B | $9.0B |
| 股东权益账面价值 | $3.8B | $9.7B |
| 总资产 | $10.1B | $19.6B |
| 负债/权益比越低杠杆越低 | 0.48× | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资BILLRPRX
| Q4 25 | $1.1B | $618.7M | ||
| Q3 25 | $1.1B | $938.9M | ||
| Q2 25 | $1.0B | $631.9M | ||
| Q1 25 | $1.0B | $1.1B | ||
| Q4 24 | $1.6B | $929.0M | ||
| Q3 24 | $853.5M | $950.1M | ||
| Q2 24 | $985.9M | $1.8B | ||
| Q1 24 | $952.5M | $843.0M |
总债务BILLRPRX
| Q4 25 | $1.8B | $9.0B | ||
| Q3 25 | $1.9B | $8.9B | ||
| Q2 25 | $1.7B | $8.0B | ||
| Q1 25 | $1.7B | $7.6B | ||
| Q4 24 | $1.7B | $7.6B | ||
| Q3 24 | $914.8M | $7.6B | ||
| Q2 24 | $914.0M | $7.6B | ||
| Q1 24 | $1.1B | $6.1B |
股东权益BILLRPRX
| Q4 25 | $3.8B | $9.7B | ||
| Q3 25 | $3.9B | $9.6B | ||
| Q2 25 | $3.9B | $9.5B | ||
| Q1 25 | $3.9B | $9.8B | ||
| Q4 24 | $3.8B | $10.3B | ||
| Q3 24 | $4.0B | $10.3B | ||
| Q2 24 | $4.1B | $9.8B | ||
| Q1 24 | $4.1B | $9.9B |
总资产BILLRPRX
| Q4 25 | $10.1B | $19.6B | ||
| Q3 25 | $10.2B | $19.3B | ||
| Q2 25 | $10.1B | $18.3B | ||
| Q1 25 | $9.6B | $17.6B | ||
| Q4 24 | $9.7B | $18.2B | ||
| Q3 24 | $9.0B | $18.0B | ||
| Q2 24 | $9.2B | $17.7B | ||
| Q1 24 | $9.1B | $16.1B |
负债/权益比BILLRPRX
| Q4 25 | 0.48× | 0.92× | ||
| Q3 25 | 0.48× | 0.93× | ||
| Q2 25 | 0.44× | 0.84× | ||
| Q1 25 | 0.43× | 0.78× | ||
| Q4 24 | 0.44× | 0.74× | ||
| Q3 24 | 0.23× | 0.74× | ||
| Q2 24 | 0.22× | 0.78× | ||
| Q1 24 | 0.28× | 0.62× |
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 | $827.1M |
| 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 | — | 3.86× |
| 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BILLRPRX
| Q4 25 | $105.3M | $827.1M | ||
| Q3 25 | $96.9M | $702.6M | ||
| Q2 25 | $83.8M | $364.0M | ||
| Q1 25 | $99.5M | $596.1M | ||
| Q4 24 | $78.7M | $742.5M | ||
| Q3 24 | $88.6M | $703.6M | ||
| Q2 24 | $78.6M | $658.2M | ||
| Q1 24 | $66.8M | $664.6M |
自由现金流BILLRPRX
| 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BILLRPRX
| 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BILLRPRX
| 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BILLRPRX
| Q4 25 | — | 3.86× | ||
| Q3 25 | — | 2.44× | ||
| Q2 25 | — | 12.06× | ||
| Q1 25 | — | 2.50× | ||
| Q4 24 | 2.35× | 3.57× | ||
| Q3 24 | 9.94× | 1.29× | ||
| Q2 24 | 10.35× | 6.45× | ||
| Q1 24 | 2.10× | 139.10× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
