Bill.com Holdings (BILL) AI Stock Analysis

• Market Cap: $3.92B
• Dividend Yield: N/A
• Average Volume (3M): 3.17M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.60
• Revenue Growth: 11.63%
• EPS Growth: 50.72%
• Country: US
• Employees: 2,187
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): 0.64
• Shares Outstanding: 98,960,440
• 10 Day Avg. Volume: 1,776,699
• 30 Day Avg. Volume: 3,172,818
• PEG Ratio: -1.09
• Price to Book (P/B): 1.22
• Price to Sales (P/S): 3.28
• P/FCF Ratio: 15.47
• Enterprise Value/Market Cap: 1.24
• Enterprise Value/Revenue: 3.12
• Enterprise Value/Gross Profit: 3.87
• Enterprise Value/Ebitda: 46.14
• 1Y Price Target: $56.31
• Price Target Upside: 42.23% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 15
• EPS Forecast (FY): 2.38
• Revenue Forecast (FY): $1.64B

• Rating: 63 Neutral
• Price Target: $42.00 ▲(6.09% Upside)
• Action: Reiterated Date: 03/17/26
• Date: Action: Reiterated 03/17/26

The score is driven primarily by improving financial fundamentals and strong cash generation, reinforced by upgraded FY26 guidance and margin expansion signals from the latest earnings call. These positives are tempered by weak technical momentum (broadly below key moving averages with bearish MACD/RSI) and limited valuation support given the deeply negative P/E and lack of dividend yield.

Positive Factors

Cash generation

Sustained positive operating and free cash flow indicate the business now converts scale into real cash, improving financial flexibility. Over 2–6 months this supports funding product investment, buybacks, and margin cushioning even if GAAP profits lag, reducing refinancing and liquidity risk.

Platform scale & network

Large customer base, strong accounting-firm distribution and a history of ~$1T processed create durable network effects and high switching costs for SMB back-office workflows. This structural reach supports multi-product cross-sell and persistent revenue streams over the medium term.

Product adoption & partnerships

Rising multi-product usage, accelerating card and financing volumes, and rapid partner integrations expand addressable market and deepen customer stickiness. These durable product mix shifts raise revenue per customer and diversify monetization beyond pure subscriptions.

Negative Factors

Profitability inconsistency

Although margins and non‑GAAP profits are improving, GAAP profitability remains inconsistent. This increases execution risk: if revenue growth slows, the company may struggle to sustain operating leverage and convert recurring revenues into stable GAAP earnings.

Rising leverage

Higher debt relative to equity raises financial sensitivity to margin or growth shocks. Over a 2–6 month horizon, increased leverage reduces capital flexibility and heightens the impact of any revenue softness or delayed profitability improvements on credit metrics and strategic optionality.

Move upmarket & long sales cycles

A deliberate shift toward larger customers and enterprise products can slow new customer growth and lengthen sales cycles. That transition requires multi-quarter execution and may compress near-term net adds and TPV growth while investments and SPP scaling materialize over multiple quarters.

Bill.com Holdings Business Overview & Revenue Model

Company Description

Bill.com Holdings, Inc. provides cloud-based software that simplifies, digitizes, and automates back-office financial operations for small and midsize businesses worldwide. The company provides software-as-a-service, cloud-based payments, and spend management products, which allow users to automate accounts payable and accounts receivable transactions, as well as enable users to connect with their suppliers and/or customers to do business, eliminate expense reports, manage cash flows, and improve office efficiency. It also offers onboarding implementation support, and ongoing support and training services. The company serves accounting firms, financial institutions, and software companies. Bill.com Holdings, Inc. was incorporated in 2006 and is headquartered in San Jose, California.

How the Company Makes Money

BILL primarily makes money through a mix of subscription and transaction-based revenue generated on its platform. Subscription revenue comes from fees customers pay to access and use BILL’s software products and functionality (often structured as recurring SaaS fees tied to product tiers and/or enabled modules). Transaction revenue is generated when customers use the platform to move money and process payments—such as paying vendors or collecting receivables—where BILL earns fees associated with payment processing and related services. BILL’s earnings are also influenced by distribution and ecosystem relationships with accounting software providers and financial institutions that help drive customer acquisition and product adoption; if specific commercial terms for individual partnerships are not publicly detailed, they are null.

Bill.com Holdings Financial Statement Overview

Summary

Strong multi-year revenue scale-up and consistently high gross margins support solid fundamentals, and cash generation is a clear strength (TTM operating cash flow ~$386M; free cash flow ~$348M). Offsetting this, profitability remains inconsistent (TTM net loss and negative operating profit) and leverage has risen versus FY2024, increasing sensitivity if growth or margins soften.

Income Statement

Top-line scale continues to improve, with revenue rising from $238M (FY2021) to $1.46B (FY2025 annual) and $1.55B in TTM (Trailing-Twelve-Months), though the latest growth pace appears to be moderating. Gross margins are consistently strong (~77%–82%), supporting attractive unit economics. Profitability has improved materially versus earlier years (when losses were very large), but earnings quality is still mixed: TTM shows a small net loss and operating profit remains negative, indicating the model is not yet consistently profitable.

Balance Sheet

The balance sheet looks generally solid with a sizable equity base (~$3.8B–$4.1B) against total assets around $10.1B (TTM). Leverage is moderate (debt-to-equity ~0.45–0.49 recently), but total debt has risen versus FY2024, which increases sensitivity if growth or margins soften. Returns on equity are low around breakeven in recent periods, reflecting that profitability is still not firmly established.

Cash Flow

Cash generation is a key strength. Operating cash flow and free cash flow are solidly positive in the most recent periods (TTM operating cash flow ~$386M; free cash flow ~$348M), with notable improvement from earlier years that included negative free cash flow. Free cash flow is broadly tracking net income levels in the latest data, suggesting cash conversion is relatively healthy, although the company still needs to prove sustained profitability alongside this cash generation.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	1.55B	1.46B	1.29B	1.06B	641.96M	238.26M
Gross Profit	1.25B	1.19B	1.06B	864.49M	496.95M	176.46M
EBITDA	104.96M	138.42M	96.03M	-102.54M	-225.16M	-100.17M
Net Income	-24.21M	23.80M	-28.88M	-223.72M	-326.36M	-98.72M
Balance Sheet
Total Assets	10.13B	10.06B	9.18B	9.64B	9.26B	5.97B
Cash, Cash Equivalents and Short-Term Investments	2.37B	2.32B	1.59B	2.66B	2.71B	1.16B
Total Debt	1.94B	1.77B	976.85M	1.91B	1.86B	1.08B
Total Liabilities	6.32B	6.15B	5.04B	5.55B	5.21B	3.44B
Stockholders Equity	3.81B	3.91B	4.13B	4.09B	4.04B	2.53B
Cash Flow
Free Cash Flow	347.96M	309.67M	257.88M	156.56M	-33.73M	-16.58M
Operating Cash Flow	385.52M	350.64M	278.77M	187.77M	-18.09M	4.62M
Investing Cash Flow	-659.84M	-817.39M	-409.37M	259.29M	-1.13B	-1.43B
Financing Cash Flow	122.13M	666.52M	-742.60M	235.11M	2.88B	1.64B

Bill.com Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 39.59
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BILL, the sentiment is Negative. The current price of 39.59 is below the 20-day moving average (MA) of 43.17, below the 50-day MA of 45.79, and below the 200-day MA of 47.65, indicating a bearish trend. The MACD of -1.48 indicates Positive momentum. The RSI at 42.23 is Neutral, neither overbought nor oversold. The STOCH value of 15.59 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BILL.

Bill.com Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
QTWO	67 Neutral	$3.05B	86.24	8.62%	―	13.93%	―
BILL	63 Neutral	$3.92B	-533.32	-0.63%	―	11.63%	50.72%
GBTG	63 Neutral	$2.91B	36.75	7.99%	―	5.71%	―
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
NCNO	59 Neutral	$1.75B	116.70	-2.04%	―	12.14%	-19.29%
VERX	56 Neutral	$2.12B	399.40	2.97%	―	13.83%	-273.23%

Bill.com Holdings Corporate Events

Bill.com Expands CFO Rohini Jain’s Financial Leadership Role

On March 11, 2026, BILL Holdings, Inc. expanded the responsibilities of its Chief Financial Officer, Rohini Jain, by appointing her as the company’s principal accounting officer for purposes of the Securities Exchange Act of 1934. Jain’s existing role as CFO will now encompass oversight of the firm’s accounting functions without any additional compensation, signaling the board’s confidence in consolidating financial leadership under a single executive and implying continuity and stability in the company’s financial governance structure.

The most recent analyst rating on (BILL) stock is a Hold with a $43.00 price target. To see the full list of analyst forecasts on Bill.com Holdings stock, see the BILL Stock Forecast page.

Bill.com announces routine board resignation of Alison Wagonfeld

On January 20, 2026, BILL Holdings, Inc. announced that board member Alison Wagonfeld notified the company of her intention to resign from its Board of Directors, with the resignation to take effect on February 6, 2026. The company stated that Wagonfeld’s departure was not due to any disagreement over its operations, policies or practices, indicating a routine governance change rather than a sign of internal conflict.

The most recent analyst rating on (BILL) stock is a Hold with a $49.00 price target. To see the full list of analyst forecasts on Bill.com Holdings stock, see the BILL Stock Forecast page.