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BILL Holdings, Inc.（BILL）与SCANSOURCE, INC.（SCSC）财务数据对比。点击上方公司名可切换其他公司
SCANSOURCE, INC.的季度营收约是BILL Holdings, Inc.的1.8倍（$766.5M vs $414.7M），SCANSOURCE, INC.净利率更高（2.2% vs -0.6%，领先2.8%），BILL Holdings, Inc.同比增速更快（14.4% vs 2.5%），BILL Holdings, Inc.自由现金流更多（$103.8M vs $28.9M），过去两年BILL Holdings, Inc.的营收复合增速更高（13.3% vs 0.9%）
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。
ScanSource是全球领先的专业技术分销商，主营销售点系统、条码扫描设备、网络安全产品、云服务及通信解决方案，面向北美、拉美、欧洲的增值经销商、服务提供商及企业客户，覆盖零售、医疗、工业、公共部门等领域。
BILL vs SCSC — 直观对比
营收规模更大
SCSC
是对方的1.8倍
$414.7M
营收增速更快
BILL
高出11.8%
2.5%
净利率更高
SCSC
高出2.8%
-0.6%
自由现金流更多
BILL
多$75.0M
$28.9M
两年增速更快
BILL
近两年复合增速
0.9%
损益表 — Q2 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $414.7M | $766.5M |
| 净利润 | $-2.6M | $16.5M |
| 毛利率 | 79.8% | 13.4% |
| 营业利润率 | -4.4% | 2.3% |
| 净利率 | -0.6% | 2.2% |
| 营收同比 | 14.4% | 2.5% |
| 净利润同比 | -107.7% | -3.3% |
| 每股收益（稀释后） | $-0.03 | $0.75 |
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BILLSCSC
| Q4 25 | $414.7M | $766.5M | ||
| Q3 25 | $395.7M | $739.6M | ||
| Q2 25 | $383.3M | $812.9M | ||
| Q1 25 | $358.2M | $704.8M | ||
| Q4 24 | $362.6M | $747.5M | ||
| Q3 24 | $358.4M | $775.6M | ||
| Q2 24 | $343.7M | $746.1M | ||
| Q1 24 | $323.0M | $752.6M |
净利润BILLSCSC
| Q4 25 | $-2.6M | $16.5M | ||
| Q3 25 | $-3.0M | $19.9M | ||
| Q2 25 | $-7.1M | $20.1M | ||
| Q1 25 | $-11.6M | $17.4M | ||
| Q4 24 | $33.5M | $17.1M | ||
| Q3 24 | $8.9M | $17.0M | ||
| Q2 24 | $7.6M | $16.1M | ||
| Q1 24 | $31.8M | $12.8M |
毛利率BILLSCSC
| Q4 25 | 79.8% | 13.4% | ||
| Q3 25 | 80.5% | 14.5% | ||
| Q2 25 | 80.8% | 12.9% | ||
| Q1 25 | 81.2% | 14.2% | ||
| Q4 24 | 81.6% | 13.6% | ||
| Q3 24 | 82.0% | 13.1% | ||
| Q2 24 | 81.0% | 13.0% | ||
| Q1 24 | 83.0% | 12.6% |
营业利润率BILLSCSC
| Q4 25 | -4.4% | 2.3% | ||
| Q3 25 | -5.2% | 3.5% | ||
| Q2 25 | -5.8% | 3.3% | ||
| Q1 25 | -8.1% | 3.2% | ||
| Q4 24 | -6.0% | 2.5% | ||
| Q3 24 | -2.1% | 2.3% | ||
| Q2 24 | -6.5% | 2.9% | ||
| Q1 24 | -8.6% | 2.3% |
净利率BILLSCSC
| Q4 25 | -0.6% | 2.2% | ||
| Q3 25 | -0.7% | 2.7% | ||
| Q2 25 | -1.8% | 2.5% | ||
| Q1 25 | -3.2% | 2.5% | ||
| Q4 24 | 9.3% | 2.3% | ||
| Q3 24 | 2.5% | 2.2% | ||
| Q2 24 | 2.2% | 2.2% | ||
| Q1 24 | 9.8% | 1.7% |
每股收益（稀释后）BILLSCSC
| Q4 25 | $-0.03 | $0.75 | ||
| Q3 25 | $-0.03 | $0.89 | ||
| Q2 25 | $0.02 | $0.87 | ||
| Q1 25 | $-0.11 | $0.74 | ||
| Q4 24 | $-0.06 | $0.70 | ||
| Q3 24 | $0.08 | $0.69 | ||
| Q2 24 | $0.37 | $0.66 | ||
| Q1 24 | $0.00 | $0.50 |
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 | $83.5M |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $3.8B | $910.9M |
| 总资产 | $10.1B | $1.7B |
| 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BILLSCSC
| Q4 25 | $1.1B | $83.5M | ||
| Q3 25 | $1.1B | $124.9M | ||
| Q2 25 | $1.0B | $126.2M | ||
| Q1 25 | $1.0B | $146.3M | ||
| Q4 24 | $1.6B | $110.5M | ||
| Q3 24 | $853.5M | $145.0M | ||
| Q2 24 | $985.9M | $185.5M | ||
| Q1 24 | $952.5M | $159.1M |
总债务BILLSCSC
| 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BILLSCSC
| Q4 25 | $3.8B | $910.9M | ||
| Q3 25 | $3.9B | $914.0M | ||
| Q2 25 | $3.9B | $906.4M | ||
| Q1 25 | $3.9B | $901.7M | ||
| Q4 24 | $3.8B | $900.7M | ||
| Q3 24 | $4.0B | $920.9M | ||
| Q2 24 | $4.1B | $924.3M | ||
| Q1 24 | $4.1B | $944.1M |
总资产BILLSCSC
| Q4 25 | $10.1B | $1.7B | ||
| Q3 25 | $10.2B | $1.7B | ||
| Q2 25 | $10.1B | $1.8B | ||
| Q1 25 | $9.6B | $1.7B | ||
| Q4 24 | $9.7B | $1.7B | ||
| Q3 24 | $9.0B | $1.8B | ||
| Q2 24 | $9.2B | $1.8B | ||
| Q1 24 | $9.1B | $1.8B |
负债/权益比BILLSCSC
| 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 | $30.8M |
| 自由现金流经营现金流 - 资本支出 | $103.8M | $28.9M |
| 自由现金流率自由现金流/营收 | 25.0% | 3.8% |
| 资本支出强度资本支出/营收 | 0.4% | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.87× |
| 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BILLSCSC
| Q4 25 | $105.3M | $30.8M | ||
| Q3 25 | $96.9M | $23.2M | ||
| Q2 25 | $83.8M | — | ||
| Q1 25 | $99.5M | $66.1M | ||
| Q4 24 | $78.7M | $-6.2M | ||
| Q3 24 | $88.6M | $44.8M | ||
| Q2 24 | $78.6M | — | ||
| Q1 24 | $66.8M | $160.2M |
自由现金流BILLSCSC
| Q4 25 | $103.8M | $28.9M | ||
| Q3 25 | $95.6M | $20.8M | ||
| Q2 25 | $81.0M | — | ||
| Q1 25 | $98.4M | $64.6M | ||
| Q4 24 | $78.3M | $-8.2M | ||
| Q3 24 | $88.6M | $42.5M | ||
| Q2 24 | $78.4M | — | ||
| Q1 24 | $66.8M | $157.7M |
自由现金流率BILLSCSC
| Q4 25 | 25.0% | 3.8% | ||
| Q3 25 | 24.1% | 2.8% | ||
| Q2 25 | 21.1% | — | ||
| Q1 25 | 27.5% | 9.2% | ||
| Q4 24 | 21.6% | -1.1% | ||
| Q3 24 | 24.7% | 5.5% | ||
| Q2 24 | 22.8% | — | ||
| Q1 24 | 20.7% | 21.0% |
资本支出强度BILLSCSC
| Q4 25 | 0.4% | 0.3% | ||
| Q3 25 | 0.3% | 0.3% | ||
| Q2 25 | 0.7% | 0.3% | ||
| Q1 25 | 0.3% | 0.2% | ||
| Q4 24 | 0.1% | 0.3% | ||
| Q3 24 | 0.0% | 0.3% | ||
| Q2 24 | 0.1% | 0.2% | ||
| Q1 24 | 0.0% | 0.3% |
现金转化率BILLSCSC
| Q4 25 | — | 1.87× | ||
| Q3 25 | — | 1.17× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 3.79× | ||
| Q4 24 | 2.35× | -0.36× | ||
| Q3 24 | 9.94× | 2.64× | ||
| Q2 24 | 10.35× | — | ||
| Q1 24 | 2.10× | 12.51× |
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% |
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
