Bill.com Holdings (BILL) AI Stock Analysis

• Market Cap: $3.73B
• Dividend Yield: N/A
• Average Volume (3M): 2.30M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.56
• 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: 100,156,685
• 10 Day Avg. Volume: 3,249,682
• 30 Day Avg. Volume: 2,298,761
• 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: 1.18
• Enterprise Value/Revenue: 2.94
• Enterprise Value/Gross Profit: 3.62
• Enterprise Value/Ebitda: 34.72
• 1Y Price Target: $58.71
• Price Target Upside: 57.71% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 16
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: $39.00 ▲(4.75% Upside)

The score is driven by solid underlying financial performance (growth and cash flow) and a positive earnings update with raised guidance and margin expansion. These strengths are materially offset by very weak technicals (downtrend and oversold momentum) and unfavorable valuation signals given the negative P/E and lack of dividend support.

Positive Factors

Upgraded guidance & durable revenue growth

Raised FY26 core and total revenue guidance alongside a Q2 core revenue beat indicates durable end‑market demand for Bill.com's subscription and transaction model. Recurring fees plus transaction volume visibility support multi‑quarter investment planning and predictable top‑line growth.

Scale & network effects across SMB ecosystem

Large customer base, broad accounting-firm distribution and a proprietary payments network create durable network effects. Multi‑product adoption raises stickiness and cross‑sell potential, supporting higher lifetime value and competitive barriers to entry over many quarters.

Improving margins and cash generation

Clear margin expansion paired with positive free cash flow trends points to sustainable operating leverage. Ongoing AI/product efficiencies that reduce manual work improve unit economics and support reinvestment, buybacks, and a stronger cash conversion profile over time.

Negative Factors

Weak underlying profitability metrics

Despite solid revenue and gross margins, low net margins and negative EBIT constrain retained earnings and long‑term return generation. Sustained profitability must rely on continued margin expansion and disciplined cost control to fund growth without excessive dilution.

Move upmarket may slow customer adds

Strategic shift to larger customers can raise ARR per account but lengthens sales cycles and reduces near‑term net adds. This transition creates a tradeoff between faster revenue per customer and slower customer growth that can weigh on top‑line momentum for several quarters.

Rewards/take‑rate and unit economics pressure

Material rewards and take‑rate dynamics require optimization to protect margins. Ongoing adjustments to incentives and take‑rate mix create uncertainty in unit economics and could compress contribution margins until programs and pricing are fully rebalanced.

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.com generates revenue primarily through subscription fees and transaction-based fees. The subscription model includes monthly or annual fees charged to businesses that access its software platform, which provides tools for managing invoices, payments, and financial workflows. In addition to subscription revenue, Bill.com earns transaction fees for processing payments made through its platform, including ACH transfers and credit card transactions. The company also benefits from strategic partnerships with banks and financial institutions, which can drive customer acquisition and enhance service offerings. These partnerships may include integrations with accounting software and financial services, further contributing to the company's revenue streams.

Bill.com Holdings Financial Statement Overview

Summary

Strong revenue growth and improving operational efficiency, supported by solid cash generation (positive/free cash flow growth and good cash conversion). Offsetting factors are weak profitability metrics (low net margins and negative EBIT) and only moderate balance-sheet strength/returns (low ROE).

Income Statement

Bill.com Holdings shows a strong revenue growth trajectory, with a notable increase in total revenue over the years. The gross profit margin remains robust, indicating efficient cost management. However, the net profit margin is low, and EBIT margins are negative, reflecting challenges in achieving profitability. The company has shown improvement in EBITDA margin, suggesting better operational efficiency.

Balance Sheet

The balance sheet reflects a moderate debt-to-equity ratio, indicating a balanced approach to leveraging. The equity ratio is healthy, showcasing a strong asset base. However, the return on equity is low, suggesting limited returns to shareholders. The company has managed to maintain a stable equity position over time.

Cash Flow

Cash flow analysis reveals a positive trend in free cash flow growth, indicating improved cash generation capabilities. The operating cash flow to net income ratio is healthy, suggesting effective cash management. The free cash flow to net income ratio is strong, highlighting the company's ability to convert earnings into cash.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.50B	1.46B	1.29B	1.06B	641.96M	238.26M
Gross Profit	1.22B	1.19B	1.06B	864.49M	496.95M	176.46M
EBITDA	126.83M	138.42M	96.03M	-102.54M	-225.16M	-100.17M
Net Income	11.93M	23.80M	-28.88M	-223.72M	-326.36M	-98.72M
Balance Sheet
Total Assets	10.15B	10.06B	9.18B	9.64B	9.26B	5.97B
Cash, Cash Equivalents and Short-Term Investments	2.31B	2.32B	1.59B	2.66B	2.71B	1.16B
Total Debt	1.92B	1.77B	976.85M	1.91B	1.86B	1.08B
Total Liabilities	6.27B	6.15B	5.04B	5.55B	5.21B	3.44B
Stockholders Equity	3.88B	3.91B	4.13B	4.09B	4.04B	2.53B
Cash Flow
Free Cash Flow	329.89M	309.67M	257.88M	156.56M	-33.73M	-16.58M
Operating Cash Flow	358.92M	350.64M	278.77M	187.77M	-18.09M	4.62M
Investing Cash Flow	-786.57M	-817.39M	-409.37M	259.29M	-1.13B	-1.43B
Financing Cash Flow	772.77M	666.52M	-742.60M	235.11M	2.88B	1.64B

Bill.com Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 37.23
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• 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 37.23 is below the 20-day moving average (MA) of 47.28, below the 50-day MA of 50.87, and below the 200-day MA of 47.81, indicating a bearish trend. The MACD of -3.41 indicates Positive momentum. The RSI at 24.19 is Positive, neither overbought nor oversold. The STOCH value of 6.80 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
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
BILL	61 Neutral	$3.73B	-136.62	0.30%	―	11.63%	50.72%
GBTG	61 Neutral	$3.15B	268.30	0.76%	―	5.71%	―
NCNO	59 Neutral	$2.16B	-99.58	-2.04%	―	12.14%	-19.29%
QTWO	57 Neutral	$3.60B	118.87	5.68%	―	13.93%	―
VERX	54 Neutral	$2.49B	-45.28	-20.47%	―	13.83%	-273.23%

Bill.com Holdings Corporate Events

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.

Bill.com Holdings’ SVP Germaine Cota Resigns

On December 11, 2025, Germaine Cota, the Senior Vice President, Finance & Accounting and Principal Accounting Officer of BILL Holdings, Inc., announced her resignation, effective January 16, 2026. This departure could impact the company’s financial leadership and operations as they transition to new management in this critical role.

The most recent analyst rating on (BILL) stock is a Buy with a $60.00 price target. To see the full list of analyst forecasts on Bill.com Holdings stock, see the BILL Stock Forecast page.

Bill.com Holdings Stockholders Approve Key Proposals

On December 11, 2025, BILL Holdings, Inc. held its annual meeting of stockholders where three proposals were voted on. The stockholders elected four directors to serve until the 2028 annual meeting, ratified PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending June 30, 2026, and approved, on a non-binding advisory basis, the compensation of the Company’s named executive officers.

The most recent analyst rating on (BILL) stock is a Buy with a $61.00 price target. To see the full list of analyst forecasts on Bill.com Holdings stock, see the BILL Stock Forecast page.