The company maintains a moderate debt-to-equity ratio of 0.50 as of 2026Q3, though $2.4 billion in goodwill suggests a heavy reliance on past acquisitions to support its asset base.
| Total Current Assets | 7.28B | 7.24B | 6.31B | 6.67B | 6.28B | 3.61B | 2.38B | 1.51B | 1.02B |
| Cash & Short-Term Investments | 2.17B | 2.32B | 1.59B | 2.66B | 2.71B | 1.16B | 697.62M | 162.28M | 92.27M |
| Cash Only | 994.67M | 1.14B | 985.94M | 1.62B | 1.6B | 509.62M | 573.64M | 90.31M | 22.4M |
| Short-Term Investments | 1.18B | 1.18B | 601.53M | 1.04B | 1.11B | 655.31M | 123.97M | 71.97M | 69.87M |
| Accounts Receivable | 851.5M | 717.45M | 725.26M | 486.88M | 280.44M | 165.31M | 10.8M | 9.19M | 5.35M |
| Days Sales Outstanding | 178.55 | 179.05 | 205.18 | 167.9 | 159.45 | 253.25 | 25.02 | 30.97 | 30.09 |
| Inventory | 0 | 0 | 0 | 3.36B | 3.14B | 0 | -6.55M | 0 | 0 |
| Days Inventory Outstanding | - | - | - | 6.31K | 7.91K | - | - | - | - |
| Other Current Assets | 4.26B | 4.2B | 4B | 0 | 0 | 2.21B | 1.66B | 1.33B | 916.91M |
| Total Non-Current Assets | 2.8B | 2.83B | 2.86B | 2.96B | 2.98B | 2.36B | 24.57M | 13.2M | 10.57M |
| Property, Plant & Equipment | 188.45M | 172.7M | 147.45M | 150.55M | 133.43M | 120.83M | 13.87M | 6.56M | 5.95M |
| Fixed Asset Turnover | 8.85x | 8.47x | 8.75x | 7.03x | 4.81x | 1.97x | 11.37x | 16.52x | 10.91x |
| Goodwill | 2.4B | 2.4B | 2.4B | 2.4B | 2.36B | 1.77B | 0 | 0 | 0 |
| Intangible Assets | 177.31M | 222.81M | 281.47M | 361.43M | 432.58M | 417.34M | 0 | 0 | 0 |
| Long-Term Investments | 4.88M | 4.88M | 0 | 0 | 0 | 0 | 0 | 3.1M | 2.1M |
| Other Non-Current Assets | 32.75M | 28.29M | 38.57M | 68.18M | 54.45M | 43.84M | 10.7M | 3.54M | 2.53M |
| Total Assets | 10.08B | 10.06B | 9.18B | 9.64B | 9.26B | 5.97B | 2.4B | 1.53B | 1.03B |
| Asset Turnover | 0.16x | 0.15x | 0.14x | 0.11x | 0.07x | 0.04x | 0.07x | 0.07x | 0.06x |
| Asset Growth % | 31.18% | 9.64% | -4.74% | 4.11% | 55.06% | 148.3% | 57.51% | 48.29% | - |
| Total Current Liabilities | 4.39B | 4.59B | 4.06B | 3.75B | 3.41B | 2.33B | 1.68B | 1.35B | 930.58M |
| Accounts Payable | 7.15M | 16.29M | 7.45M | 8.52M | 9.95M | 11.9M | 3.48M | 5.06M | 2.03M |
| Days Payables Outstanding | 10.48 | 21.86 | 11.59 | 16.03 | 25.04 | 70.3 | 32.43 | 61.77 | 38.17 |
| Short-Term Debt | 0 | 213.43M | 0 | 135.05M | 75.1M | 0 | 2.3M | 494K | 3.67M |
| Deferred Revenue (Current) | 4.06B | 22.43M | 3.72B | 3.38B | 3.17B | 2.22B | 1.65B | 1.33B | 918.29M |
| Other Current Liabilities | 32.66M | 4.3B | 34.16M | 0 | 0 | 0 | 8.54M | 1.34B | 5.38M |
| Current Ratio | 1.66x | 1.58x | 1.55x | 1.78x | 1.84x | 1.55x | 1.42x | 1.12x | 1.09x |
| Quick Ratio | 1.66x | 1.58x | 1.55x | 0.88x | 0.92x | 1.55x | 1.42x | 1.12x | 1.09x |
| Cash Conversion Cycle | 168.07 | - | - | 6.47K | 8.05K | - | - | - | - |
| Total Non-Current Liabilities | 1.89B | 1.56B | 981.59M | 1.8B | 1.8B | 1.11B | 16.45M | 279.54M | 200.61M |
| Long-Term Debt | 1.83B | 1.5B | 914M | 1.7B | 1.7B | 989.38M | 0 | 0 | 5.83M |
| Capital Lease Obligations | 218.81M | 58.37M | 62.85M | 72.48M | 82.73M | 86.64M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 9.09M | 0 | 0 | 191.15M |
| Other Non-Current Liabilities | 4.08M | 1.58M | 574K | 18.94M | 20.8M | 25.89M | 13.83M | 277.75M | 1.7M |
| Total Liabilities | 6.28B | 6.15B | 5.04B | 5.55B | 5.21B | 3.44B | 1.69B | 1.63B | 1.13B |
| Total Debt | 1.89B | 1.77B | 976.85M | 1.91B | 1.86B | 1.08B | 2.3M | 494K | 9.5M |
| Net Debt | 891.18M | 632.88M | -9.09M | 295.15M | 259.27M | 566.4M | -571.34M | -89.81M | -12.9M |
| Debt / Equity | 0.50x | 0.45x | 0.24x | 0.47x | 0.46x | 0.43x | 0.00x | - | - |
| Debt / EBITDA | 35.74x | 200.53x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 16.89x | 71.58x | - | - | - | - | - | - | - |
| Interest Coverage | 1.23x | 2.64x | -0.37x | -13.66x | -34.11x | -3.95x | -134.54x | -8.05x | -15.83x |
| Total Equity | 3.8B | 3.91B | 4.13B | 4.09B | 4.04B | 2.53B | 710.72M | -102.66M | -101.9M |
| Equity Growth % | -10.4% | -5.33% | 1.18% | 1.05% | 59.86% | 255.92% | 792.32% | -0.74% | - |
| Book Value per Share | 37.17 | 37.67 | 38.96 | 38.56 | 39.74 | 30.55 | 8.92 | -1.42 | -1.24 |
| Total Shareholders' Equity | 3.8B | 3.91B | 4.13B | 4.09B | 4.04B | 2.53B | 710.72M | 174.34M | 89.24M |
| Common Stock | 2K | 2K | 2K | 2K | 2K | 2K | 2K | 1K | 1K |
| Retained Earnings | -1.77B | -1.51B | -1.1B | -856.17M | -544.83M | -247.47M | -148.75M | -117.66M | -110.34M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 1.99M | 10.2M | -1.89M | -4.49M | -10.22M | -100K | 2.42M | 326K | -177K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
SMB spending cycle sensitivity
As reported in recent financial filings, BILL has maintained a consistent total asset base of approximately $10.1 billion through 2026Q3, suggesting that the company's balance sheet expansion has reached a plateau as it pivots toward operational efficiency rather than aggressive, asset-heavy growth strategies.
The stabilization of total assets alongside a persistent negative retained earnings balance of $1.8 billion indicates that the company is still working through the capital costs of its historical acquisition strategy. Investors should monitor whether this plateau in asset growth reflects a mature business model or a temporary pause in the company's ability to deploy capital effectively.
Based on the provided balance sheet data, BILL maintains a debt-to-equity ratio of 0.50 as of 2026Q3, reflecting a moderate leverage profile that appears to be utilized primarily for supporting operational liquidity rather than funding aggressive, high-risk expansion initiatives.
The $1.9 billion debt load appears manageable relative to the company's asset base, though the reliance on debt to supplement cash reserves warrants further investigation into the cost of capital. This leverage level suggests a cautious approach to financing, which may provide a buffer against potential volatility in transaction-based revenue streams.
According to the latest quarterly reports, goodwill remains a significant component of the asset mix at $2.4 billion, representing a substantial portion of the $10.1 billion in total assets and highlighting the company's reliance on past acquisitions to sustain its competitive market position.
The high concentration of intangible assets suggests that the balance sheet is sensitive to potential impairment charges if the acquired businesses fail to meet long-term growth expectations. This asset composition implies that the company's book value may be overstated if the synergies from these acquisitions do not materialize as anticipated.
As indicated by the 2026Q3 financial statements, BILL maintains a current ratio of 1.66, providing a sufficient liquidity cushion to cover short-term obligations while navigating the inherent volatility of its transaction-based business model and fluctuating SMB payment volumes.
The cash position of $994.7 million appears adequate to support ongoing operations and potential working capital requirements, though the decline from previous periods suggests a more disciplined approach to cash management. This liquidity profile may offer the company necessary flexibility to defend its market share against emerging competitive threats.
Based on the provided data, the sudden spike in deferred revenue to $4.0 billion in 2026Q3, compared to negligible levels in prior quarters, represents a significant balance sheet distortion that warrants careful scrutiny regarding the company's revenue recognition practices and potential future performance obligations.
This dramatic shift in deferred revenue may indicate a change in contract structures or a significant influx of prepayments that could artificially inflate short-term liquidity metrics. Investors should investigate whether this trend reflects genuine customer demand or a strategic accounting adjustment that obscures the underlying durability of the company's subscription base.
Quick answers to the most common questions about buying BILL stock.
As of 2025, Bill.com Holdings, Inc. (BILL) had total assets of $10.06B including $7.24B in current assets.
Bill.com Holdings, Inc. (BILL) carries total debt of $1.77B, offset by $2.32B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Bill.com Holdings, Inc. (BILL) has total shareholders' equity (book value) of $3.91B ($37.67 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Bill.com Holdings, Inc. (BILL) reported a current ratio of 1.58x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.