BILL Holdings Inc is a provider of software-as-a-service, cloud-based payments and spend and expense management products, which allow users to automate accounts payable and accounts receivable transactions, enable businesses to easily connect with their suppliers or customers to do business, eliminate expense reports, manage cash flows and improve back office efficiency. Initial Public Offering and Follow-on Offering.
The chart shows the growth of an initial investment of $10,000 in BILL Holdings, Inc., comparing it to the performance of the S&P 500 index.
All prices have been adjusted for splits and dividends.
BILL Holdings, Inc. (BILL) has returned -29.76% so far this year and 2.60% over the past 12 months. Looking at the last ten years, BILL has achieved an annualized return of 0.36%, underperforming the Benchmark (SPY), which averaged 12.23% per year.
The table below presents the monthly returns of BILL Holdings, Inc. (BILL) with color gradation from worst to best to easily spot seasonal factors.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -21.51% | 3.39% | -12.36% | -0.03% | ||||||||
| 2025 | 12.64% | -41.21% | -17.23% | -0.44% | -6.47% | 6.96% | -6.91% | 9.95% | 17.01% | -6.71% | 1.31% | 9.92% |
| 2024 | -2.50% | -19.84% | 8.27% | -6.24% | -15.84% | 0.53% | -4.93% | 11.05% | -2.42% | 11.20% | 54.83% | -5.12% |
| 2023 | 3.59% | -27.38% | -4.56% | -3.55% | 35.93% | 16.23% | 7.02% | -7.21% | -6.11% | -15.82% | -27.43% | 24.11% |
| 2022 | -24.76% | 22.92% | -4.73% | -23.49% | -29.62% | -8.22% | 20.93% | 20.12% | -16.35% | -0.18% | -13.09% | -8.84% |
| 2021 | -11.05% | 34.14% | -13.32% | 3.63% | -4.46% | 23.00% | 14.27% | 32.44% | -2.27% | 9.40% | -4.14% | -13.15% |
| 2020 | 31.18% | 12.37% | -40.46% | 83.29% | 26.43% | 29.80% | 3.24% | 5.13% | 3.41% | -1.72% | 21.02% | 13.35% |
| 2019 | 2.15% |
The charts below present risk-adjusted performance metrics for BILL Holdings, Inc. (BILL) and compare them to a Benchmark (SPY). These indicators evaluate an investment's returns against its associated risks.
The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.
These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns.
The chart below shows the rolling Sharpe ratio of BILL compared to the benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.
The current BILL Holdings, Inc. volatility is 2.52%, representing the standart deviation of percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.
The Drawdowns chart displays portfolio losses from any high point along the way. It shows the maximum percentage drop from a peak to a trough over a specified period, indicating the risk of significant losses.
Although chart shows positive values, it represents the percentage drop from the peak, so a value of 10% means the portfolio has dropped 10% from its highest point.
The income statement provides a summary of a company's revenues, expenses, and profits over a specific period. It shows how much money the company earned (revenues) and how much it spent (expenses), leading to the net income or profit. This statement is crucial for understanding a company's financial performance and profitability.
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Liabilities And Equity (USD) | 10.06B | 9.18B | 9.64B | 9.26B | 5.97B | 2.40B |
| Equity Attributable To Parent (USD) | 3.91B | 4.13B | 4.09B | 4.04B | 2.53B | 710.72M |
| Equity Attributable To Noncontrolling Interest (USD) | - | - | - | - | - | - |
| Equity (USD) | 3.91B | 4.13B | 4.09B | 4.04B | 2.53B | 710.72M |
| Other Non-current Liabilities (USD) | - | 67.59M | - | 30.59M | - | - |
| Long-term Debt (USD) | 1.71B | 914.00M | 1.84B | 1.77B | - | - |
| Noncurrent Liabilities (USD) | 1.56B | 981.59M | 1.80B | 1.80B | 1.11B | 16.45M |
| Other Current Liabilities (USD) | 4.53B | 4.02B | 3.71B | 3.37B | 2.29B | 1.66B |
| Wages (USD) | 39.58M | 34.16M | 32.90M | 29.00M | 20.29M | 12.39M |
| Accounts Payable (USD) | 16.29M | 7.45M | 8.52M | 9.95M | 11.90M | 3.48M |
| Current Liabilities (USD) | 4.59B | 4.06B | 3.75B | 3.41B | 2.33B | 1.68B |
| Liabilities (USD) | 6.15B | 5.04B | 5.55B | 5.21B | 3.44B | 1.69B |
| Other Non-current Assets (USD) | 2.49B | 2.49B | 2.52B | 2.49B | 1.90B | 10.70M |
| Intangible Assets (USD) | 222.81M | 281.47M | 361.43M | 432.58M | 417.34M | - |
| Fixed Assets (USD) | 116.61M | 88.03M | 81.56M | 56.99M | 48.90M | 13.87M |
| Noncurrent Assets (USD) | 2.83B | 2.86B | 2.96B | 2.98B | 2.36B | 24.57M |
| Current Assets (USD) | 7.24B | 6.31B | 6.67B | 6.28B | 3.61B | 2.38B |
| Assets (USD) | 10.06B | 9.18B | 9.64B | 9.26B | 5.97B | 2.40B |
Activist investor Starboard Value LP acquired a 5.19 million share stake in engineering and construction firm Fluor Corporation worth $205.73 million, representing 3.9% of its reportable assets. The investment reflects confidence in Fluor's ability to capitalize on accelerating industrial and energy infrastructure investment cycles, though investors will monitor whether the company can convert its growing project backlog into steady, profitable earnings without cost overruns.
Activist investor Starboard Value LP has acquired a significant 4.55% stake in Clearwater Analytics, purchasing 9,959,031 shares valued at $240.21 million. The investment in the cloud-based investment accounting software provider reflects confidence in its structural competitive advantages, including high switching costs and regulatory requirements that create sticky recurring revenue. However, the stock has underperformed the market by 26.7 percentage points over the past year.
Bill Holdings, a software company serving small and medium-sized businesses with accounts payable and receivable solutions, has declined 86% from its 2021 peak. Despite slowing growth as the company prioritizes profitability over expansion, Wall Street analysts are bullish with 15 of 24 recommending a buy. The stock trades at a P/S ratio of 3, its cheapest since going public in 2019, with an average price target suggesting 25% upside potential.
Barington Companies Management significantly increased its stake in Bill Holdings (BILL) by purchasing 325,000 shares worth $16.70 million in Q4, bringing the position to 14% of its portfolio. Despite BILL stock declining 24% over the past year, the company's core revenue grew 17% and transaction fees increased 20%, suggesting strong operational performance that may justify the investor's conviction.
Barington Companies Management initiated a new position in Americold Realty Trust, purchasing 300,000 shares worth $3.86 million in Q4 2025, despite the stock declining 38.7% over the past year. The investment represents 2.53% of the fund's assets, suggesting confidence that operational improvements and better occupancy could stabilize earnings and reflect cyclical pessimism rather than structural weakness.
Anthropic's launch of Claude Cowork, an AI tool designed to replace multiple software tools, triggered a significant sell-off in SaaS stocks. Software companies like Shopify, Monday.com, and Fastly dropped 15-23%, similar to the market's reaction to DeepSeek last year. However, analysts suggest the impact varies by company type—mission-critical, deeply integrated software providers are better positioned to weather AI disruption than single-function tools. Meanwhile, January job data showed the lowest openings since 2020 and highest layoffs since 2009, though unemployment remains historically average.
As companies focus on cost-cutting and operational efficiency in 2026, software platforms that automate payroll, accounts payable, and human capital management are positioned to benefit. Three stocks highlighted are ADP (a blue-chip dividend king with consistent growth), BILL Holdings (a turnaround story in business payments automation), and Paycom Software (specializing in employee self-service HCM automation with potential 40% upside).
Starboard Value LP acquired a significant 7,024,848 share stake in Bill Holdings, valued at $372.11 million, becoming the firm's fourth-largest holding. The investment suggests potential strategic changes or value generation for the cloud-based financial software company.
Multiple companies are exploring potential sales and acquisitions, including Bill.com, C3 AI, Warner Bros. Discovery, and Sealed Air. Major tech, media, and private equity firms are actively bidding and considering strategic moves in various sectors.
U.S. stock futures rose on Wednesday, with investors awaiting a House vote to end the government shutdown. Markets are anticipating potential Federal Reserve interest rate cuts, with key tech and financial stocks showing notable movements.
