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BILL Holdings, Inc.（BILL）与Sylvamo Corp（SLVM）财务数据对比。点击上方公司名可切换其他公司
Sylvamo Corp的季度营收约是BILL Holdings, Inc.的1.8倍（$755.0M vs $414.7M），Sylvamo Corp净利率更高（-0.4% vs -0.6%，领先0.2%），BILL Holdings, Inc.同比增速更快（14.4% vs -8.0%），BILL Holdings, Inc.自由现金流更多（$103.8M vs $-59.0M），过去两年BILL Holdings, Inc.的营收复合增速更高（13.3% vs -10.0%）
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。
西尔瓦莫公司是全球领先的可持续纸浆与纸品生产商，核心产品包括非涂布印刷纸、包装纸及商用纸浆，业务覆盖北美、欧洲、拉美地区，服务办公耗材、出版、商业印刷、包装等多个领域。
BILL vs SLVM — 直观对比
营收规模更大
SLVM
是对方的1.8倍
$414.7M
营收增速更快
BILL
高出22.4%
-8.0%
净利率更高
SLVM
高出0.2%
-0.6%
自由现金流更多
BILL
多$162.8M
$-59.0M
两年增速更快
BILL
近两年复合增速
-10.0%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $414.7M | $755.0M |
| 净利润 | $-2.6M | $-3.0M |
| 毛利率 | 79.8% | — |
| 营业利润率 | -4.4% | — |
| 净利率 | -0.6% | -0.4% |
| 营收同比 | 14.4% | -8.0% |
| 净利润同比 | -107.7% | — |
| 每股收益（稀释后） | $-0.03 | $-0.08 |
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BILLSLVM
| Q1 26 | — | $755.0M | ||
| Q4 25 | $414.7M | $890.0M | ||
| Q3 25 | $395.7M | $846.0M | ||
| Q2 25 | $383.3M | $794.0M | ||
| Q1 25 | $358.2M | $821.0M | ||
| Q4 24 | $362.6M | $970.0M | ||
| Q3 24 | $358.4M | $965.0M | ||
| Q2 24 | $343.7M | $933.0M |
净利润BILLSLVM
| Q1 26 | — | $-3.0M | ||
| Q4 25 | $-2.6M | $33.0M | ||
| Q3 25 | $-3.0M | $57.0M | ||
| Q2 25 | $-7.1M | $15.0M | ||
| Q1 25 | $-11.6M | $27.0M | ||
| Q4 24 | $33.5M | $81.0M | ||
| Q3 24 | $8.9M | $95.0M | ||
| Q2 24 | $7.6M | $83.0M |
毛利率BILLSLVM
| Q1 26 | — | — | ||
| 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% | — |
营业利润率BILLSLVM
| Q1 26 | — | — | ||
| Q4 25 | -4.4% | 8.9% | ||
| Q3 25 | -5.2% | 11.6% | ||
| Q2 25 | -5.8% | 3.8% | ||
| Q1 25 | -8.1% | 5.4% | ||
| Q4 24 | -6.0% | 11.2% | ||
| Q3 24 | -2.1% | 15.5% | ||
| Q2 24 | -6.5% | 13.1% |
净利率BILLSLVM
| Q1 26 | — | -0.4% | ||
| Q4 25 | -0.6% | 3.7% | ||
| Q3 25 | -0.7% | 6.7% | ||
| Q2 25 | -1.8% | 1.9% | ||
| Q1 25 | -3.2% | 3.3% | ||
| Q4 24 | 9.3% | 8.4% | ||
| Q3 24 | 2.5% | 9.8% | ||
| Q2 24 | 2.2% | 8.9% |
每股收益（稀释后）BILLSLVM
| Q1 26 | — | $-0.08 | ||
| Q4 25 | $-0.03 | $0.81 | ||
| Q3 25 | $-0.03 | $1.41 | ||
| Q2 25 | $0.02 | $0.37 | ||
| Q1 25 | $-0.11 | $0.65 | ||
| Q4 24 | $-0.06 | $1.91 | ||
| Q3 24 | $0.08 | $2.27 | ||
| Q2 24 | $0.37 | $1.98 |
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 | $766.0M |
| 股东权益账面价值 | $3.8B | $979.0M |
| 总资产 | $10.1B | $2.8B |
| 负债/权益比越低杠杆越低 | 0.48× | 0.78× |
8季度趋势，按日历期对齐
现金及短期投资BILLSLVM
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $198.0M | ||
| Q3 25 | $1.1B | $146.0M | ||
| Q2 25 | $1.0B | $183.0M | ||
| Q1 25 | $1.0B | $220.0M | ||
| Q4 24 | $1.6B | $309.0M | ||
| Q3 24 | $853.5M | $414.0M | ||
| Q2 24 | $985.9M | $213.0M |
总债务BILLSLVM
| Q1 26 | — | $766.0M | ||
| Q4 25 | $1.8B | $763.0M | ||
| Q3 25 | $1.9B | $778.0M | ||
| Q2 25 | $1.7B | $767.0M | ||
| Q1 25 | $1.7B | $794.0M | ||
| Q4 24 | $1.7B | $782.0M | ||
| Q3 24 | $914.8M | $883.0M | ||
| Q2 24 | $914.0M | $894.0M |
股东权益BILLSLVM
| Q1 26 | — | $979.0M | ||
| Q4 25 | $3.8B | $966.0M | ||
| Q3 25 | $3.9B | $977.0M | ||
| Q2 25 | $3.9B | $959.0M | ||
| Q1 25 | $3.9B | $908.0M | ||
| Q4 24 | $3.8B | $847.0M | ||
| Q3 24 | $4.0B | $937.0M | ||
| Q2 24 | $4.1B | $830.0M |
总资产BILLSLVM
| Q1 26 | — | $2.8B | ||
| Q4 25 | $10.1B | $2.8B | ||
| Q3 25 | $10.2B | $2.7B | ||
| Q2 25 | $10.1B | $2.7B | ||
| Q1 25 | $9.6B | $2.6B | ||
| Q4 24 | $9.7B | $2.6B | ||
| Q3 24 | $9.0B | $2.9B | ||
| Q2 24 | $9.2B | $2.7B |
负债/权益比BILLSLVM
| Q1 26 | — | 0.78× | ||
| Q4 25 | 0.48× | 0.79× | ||
| Q3 25 | 0.48× | 0.80× | ||
| Q2 25 | 0.44× | 0.80× | ||
| Q1 25 | 0.43× | 0.87× | ||
| Q4 24 | 0.44× | 0.92× | ||
| Q3 24 | 0.23× | 0.94× | ||
| Q2 24 | 0.22× | 1.08× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $103.8M | $-59.0M |
| 自由现金流率自由现金流/营收 | 25.0% | -7.8% |
| 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 | — | — |
| 过去12个月自由现金流最近4个季度 | $378.8M | $10.0M |
8季度趋势，按日历期对齐
经营现金流BILLSLVM
| Q1 26 | — | — | ||
| Q4 25 | $105.3M | $94.0M | ||
| Q3 25 | $96.9M | $87.0M | ||
| Q2 25 | $83.8M | $64.0M | ||
| Q1 25 | $99.5M | $23.0M | ||
| Q4 24 | $78.7M | $164.0M | ||
| Q3 24 | $88.6M | $163.0M | ||
| Q2 24 | $78.6M | $115.0M |
自由现金流BILLSLVM
| Q1 26 | — | $-59.0M | ||
| Q4 25 | $103.8M | $38.0M | ||
| Q3 25 | $95.6M | $33.0M | ||
| Q2 25 | $81.0M | $-2.0M | ||
| Q1 25 | $98.4M | $-25.0M | ||
| Q4 24 | $78.3M | $100.0M | ||
| Q3 24 | $88.6M | $119.0M | ||
| Q2 24 | $78.4M | $62.0M |
自由现金流率BILLSLVM
| Q1 26 | — | -7.8% | ||
| Q4 25 | 25.0% | 4.3% | ||
| Q3 25 | 24.1% | 3.9% | ||
| Q2 25 | 21.1% | -0.3% | ||
| Q1 25 | 27.5% | -3.0% | ||
| Q4 24 | 21.6% | 10.3% | ||
| Q3 24 | 24.7% | 12.3% | ||
| Q2 24 | 22.8% | 6.6% |
资本支出强度BILLSLVM
| Q1 26 | — | — | ||
| Q4 25 | 0.4% | 6.3% | ||
| Q3 25 | 0.3% | 6.4% | ||
| Q2 25 | 0.7% | 8.3% | ||
| Q1 25 | 0.3% | 5.8% | ||
| Q4 24 | 0.1% | 6.6% | ||
| Q3 24 | 0.0% | 4.6% | ||
| Q2 24 | 0.1% | 5.7% |
现金转化率BILLSLVM
| Q1 26 | — | — | ||
| Q4 25 | — | 2.85× | ||
| Q3 25 | — | 1.53× | ||
| Q2 25 | — | 4.27× | ||
| Q1 25 | — | 0.85× | ||
| Q4 24 | 2.35× | 2.02× | ||
| Q3 24 | 9.94× | 1.72× | ||
| Q2 24 | 10.35× | 1.39× |
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% |
SLVM
| North America | $390.0M | 52% |
| Europe | $190.0M | 25% |
| Latin America | $187.0M | 25% |
