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BILL Holdings, Inc.（BILL）与医疗房产信托（SVC）财务数据对比。点击上方公司名可切换其他公司
BILL Holdings, Inc.的季度营收约是医疗房产信托的1.4倍（$414.7M vs $296.5M），医疗房产信托净利率更高（-0.3% vs -0.6%，领先0.4%），BILL Holdings, Inc.同比增速更快（14.4% vs -17.0%），BILL Holdings, Inc.自由现金流更多（$103.8M vs $-95.2M），过去两年BILL Holdings, Inc.的营收复合增速更高（13.3% vs -6.1%）
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。
医疗房产信托（MPT）是总部位于阿拉巴马州伯明翰的国际房地产投资信托（REIT），主要在美国和欧洲地区收购投资医疗设施与营利性医疗控股公司。该公司的房产收购多采用售后回租模式，原产权方出售房产给MPT后成为承租租户，其租户普遍签订长期三净租约。
BILL vs SVC — 直观对比
营收规模更大
BILL
是对方的1.4倍
$296.5M
营收增速更快
BILL
高出31.3%
-17.0%
净利率更高
SVC
高出0.4%
-0.6%
自由现金流更多
BILL
多$199.0M
$-95.2M
两年增速更快
BILL
近两年复合增速
-6.1%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $414.7M | $296.5M |
| 净利润 | $-2.6M | $-782.0K |
| 毛利率 | 79.8% | — |
| 营业利润率 | -4.4% | -3.9% |
| 净利率 | -0.6% | -0.3% |
| 营收同比 | 14.4% | -17.0% |
| 净利润同比 | -107.7% | 99.0% |
| 每股收益（稀释后） | $-0.03 | $-0.01 |
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BILLSVC
| Q4 25 | $414.7M | $296.5M | ||
| Q3 25 | $395.7M | $377.6M | ||
| Q2 25 | $383.3M | $404.4M | ||
| Q1 25 | $358.2M | $335.0M | ||
| Q4 24 | $362.6M | $357.0M | ||
| Q3 24 | $358.4M | $390.9M | ||
| Q2 24 | $343.7M | $412.5M | ||
| Q1 24 | $323.0M | $336.2M |
净利润BILLSVC
| Q4 25 | $-2.6M | $-782.0K | ||
| Q3 25 | $-3.0M | $-46.9M | ||
| Q2 25 | $-7.1M | $-38.2M | ||
| Q1 25 | $-11.6M | $-116.4M | ||
| Q4 24 | $33.5M | $-76.4M | ||
| Q3 24 | $8.9M | $-46.9M | ||
| Q2 24 | $7.6M | $-73.8M | ||
| Q1 24 | $31.8M | $-78.4M |
毛利率BILLSVC
| 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BILLSVC
| Q4 25 | -4.4% | -3.9% | ||
| Q3 25 | -5.2% | -12.8% | ||
| Q2 25 | -5.8% | -9.2% | ||
| Q1 25 | -8.1% | -33.3% | ||
| Q4 24 | -6.0% | -19.4% | ||
| Q3 24 | -2.1% | -12.8% | ||
| Q2 24 | -6.5% | -17.1% | ||
| Q1 24 | -8.6% | -21.4% |
净利率BILLSVC
| Q4 25 | -0.6% | -0.3% | ||
| Q3 25 | -0.7% | -12.4% | ||
| Q2 25 | -1.8% | -9.4% | ||
| Q1 25 | -3.2% | -34.8% | ||
| Q4 24 | 9.3% | -21.4% | ||
| Q3 24 | 2.5% | -12.0% | ||
| Q2 24 | 2.2% | -17.9% | ||
| Q1 24 | 9.8% | -23.3% |
每股收益（稀释后）BILLSVC
| Q4 25 | $-0.03 | $-0.01 | ||
| Q3 25 | $-0.03 | $-0.28 | ||
| Q2 25 | $0.02 | $-0.23 | ||
| Q1 25 | $-0.11 | $-0.70 | ||
| Q4 24 | $-0.06 | $-0.46 | ||
| Q3 24 | $0.08 | $-0.28 | ||
| Q2 24 | $0.37 | $-0.45 | ||
| Q1 24 | $0.00 | $-0.48 |
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 | $346.8M |
| 总债务越低越好 | $1.8B | $5.5B |
| 股东权益账面价值 | $3.8B | $646.1M |
| 总资产 | $10.1B | $6.5B |
| 负债/权益比越低杠杆越低 | 0.48× | 8.52× |
8季度趋势，按日历期对齐
现金及短期投资BILLSVC
| Q4 25 | $1.1B | $346.8M | ||
| Q3 25 | $1.1B | $417.4M | ||
| Q2 25 | $1.0B | $63.2M | ||
| Q1 25 | $1.0B | $80.1M | ||
| Q4 24 | $1.6B | $143.5M | ||
| Q3 24 | $853.5M | $48.6M | ||
| Q2 24 | $985.9M | $14.6M | ||
| Q1 24 | $952.5M | $71.3M |
总债务BILLSVC
| Q4 25 | $1.8B | $5.5B | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | $5.8B | ||
| Q3 24 | $914.8M | — | ||
| Q2 24 | $914.0M | — | ||
| Q1 24 | $1.1B | — |
股东权益BILLSVC
| Q4 25 | $3.8B | $646.1M | ||
| Q3 25 | $3.9B | $647.9M | ||
| Q2 25 | $3.9B | $695.9M | ||
| Q1 25 | $3.9B | $734.6M | ||
| Q4 24 | $3.8B | $851.9M | ||
| Q3 24 | $4.0B | $929.0M | ||
| Q2 24 | $4.1B | $1.0B | ||
| Q1 24 | $4.1B | $1.1B |
总资产BILLSVC
| Q4 25 | $10.1B | $6.5B | ||
| Q3 25 | $10.2B | $7.0B | ||
| Q2 25 | $10.1B | $6.9B | ||
| Q1 25 | $9.6B | $7.0B | ||
| Q4 24 | $9.7B | $7.1B | ||
| Q3 24 | $9.0B | $7.1B | ||
| Q2 24 | $9.2B | $7.1B | ||
| Q1 24 | $9.1B | $7.2B |
负债/权益比BILLSVC
| Q4 25 | 0.48× | 8.52× | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.43× | — | ||
| Q4 24 | 0.44× | 6.85× | ||
| 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 | $-18.5M |
| 自由现金流经营现金流 - 资本支出 | $103.8M | $-95.2M |
| 自由现金流率自由现金流/营收 | 25.0% | -32.1% |
| 资本支出强度资本支出/营收 | 0.4% | 25.9% |
| 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 | $-107.0M |
8季度趋势，按日历期对齐
经营现金流BILLSVC
| Q4 25 | $105.3M | $-18.5M | ||
| Q3 25 | $96.9M | $98.1M | ||
| Q2 25 | $83.8M | $-7.0K | ||
| Q1 25 | $99.5M | $38.2M | ||
| Q4 24 | $78.7M | $-9.7M | ||
| Q3 24 | $88.6M | $106.2M | ||
| Q2 24 | $78.6M | $43.8M | ||
| Q1 24 | $66.8M | $-926.0K |
自由现金流BILLSVC
| Q4 25 | $103.8M | $-95.2M | ||
| Q3 25 | $95.6M | $57.9M | ||
| Q2 25 | $81.0M | $-46.6M | ||
| Q1 25 | $98.4M | $-23.2M | ||
| Q4 24 | $78.3M | $-88.9M | ||
| Q3 24 | $88.6M | $24.1M | ||
| Q2 24 | $78.4M | $-22.3M | ||
| Q1 24 | $66.8M | $-77.2M |
自由现金流率BILLSVC
| Q4 25 | 25.0% | -32.1% | ||
| Q3 25 | 24.1% | 15.3% | ||
| Q2 25 | 21.1% | -11.5% | ||
| Q1 25 | 27.5% | -6.9% | ||
| Q4 24 | 21.6% | -24.9% | ||
| Q3 24 | 24.7% | 6.2% | ||
| Q2 24 | 22.8% | -5.4% | ||
| Q1 24 | 20.7% | -23.0% |
资本支出强度BILLSVC
| Q4 25 | 0.4% | 25.9% | ||
| Q3 25 | 0.3% | 10.6% | ||
| Q2 25 | 0.7% | 11.5% | ||
| Q1 25 | 0.3% | 18.3% | ||
| Q4 24 | 0.1% | 22.2% | ||
| Q3 24 | 0.0% | 21.0% | ||
| Q2 24 | 0.1% | 16.0% | ||
| Q1 24 | 0.0% | 22.7% |
现金转化率BILLSVC
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.35× | — | ||
| Q3 24 | 9.94× | — | ||
| Q2 24 | 10.35× | — | ||
| Q1 24 | 2.10× | — |
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% |
SVC
暂无分部数据
