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BILL Holdings (B2HI34) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of BILL Holdings BRL 0.44, price BRL 1.26, upside -65.1%, quality 64 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Technology · BR · ISIN US0900431000

BH Broad data Sep 24, 2026

BILL Holdings

B2HI34 · SA

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value R$0.4400 · Strongly overvalued (−65.1%)
✓Quality 64/100
✓Healthy Growth (revenue 3y +31.6 %/yr)
!Thin margins · 0.0% net margin (TTM)
✓Low debt · generates free cash flow
!Narrow moat 26/100

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

R$10.07 R$0.9000 Fair Value R$0.4400 Aug 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range R$0.9000 – R$10.07 · fair‑value band R$0.2800 – R$0.6100 · the R$1.26 price screens above the R$0.4400 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

BILL Holdings, Inc. provides financial operations platform for small and midsize businesses worldwide.

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BILL Holdings, Inc. provides financial operations platform for small and midsize businesses worldwide. It 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 businesses to connect with their suppliers and/or customers to do business, eliminate expense reports, manage cash flows, and improve back-office efficiency. The company also offers onboarding implementation support, and ongoing support and training services. In addition, the company's artificial intelligence enabled financial software platform provides connections between suppliers and clients. It serves accounting firms, financial institutions, and software provider companies. The company was formerly known as Bill.com Holdings, Inc. and changed its name to BILL Holdings, Inc. in February 2023. BILL Holdings, Inc. was incorporated in 2006 and is headquartered in San Jose, California.

Stock analysis

BILL Holdings (B2HI34) currently trades at R$1.26, while our model-based Fair Value estimate is R$0.4400, 65.1% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of R$1.43 per share, and 2 of the 11 models we run sit above the R$1.26 price.

Bear case: the Multiples group reads lowest at R$0.0900, and 9 of the 11 models stay below the price. Evidence for this calculation is high.

Scenario range: R$0.2800 (bear) to R$0.6100 (bull), the price of R$1.26 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 64/100 (solid quality), in the Technology sector.

Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.

BILL Holdings reported revenue of $1.5B in FY2025 versus $642M in FY2022, a compound +31.6%/yr. Reported net income was $23.8M in FY2025.

Key figures

Market cap R$22.1B (≈ $4.2B) · P/S ratio 13.8 · Net margin 1.6% · Return on assets (EBIT) −2.1% · Operating margin 1.1% · Revenue (TTM) $1.6B · Revenue growth (YoY) +13.5% · Free cash flow $310M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).

What moves the price

The share trades about 28% below its 52-week high and 40% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −8% fair-value upside, at −65%, B2HI34 screens richer than that median.

Fair Value models

Bear R$0.2800 Fair Value R$0.4400 Bull R$0.6100
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Growth DCF R$1.20 R$2.37 R$4.55 71
Owner Earnings n/a R$0.0700 >R$0.2800 70
5Y P/E Exit R$0.3200 R$0.5100 R$0.7100 68
All 11 models by family
DCF Models
Owner Earnings n/a R$0.0700 >R$0.2800 70
5Y P/E Exit R$0.3200 R$0.5100 R$0.7100 68
10Y P/E Exit R$0.6100 R$0.9400 R$1.41 61
Earnings-Based
Graham-Dodd R$0.0500 R$0.3300 R$0.4600 60
Lynch FV R$0.1000 R$0.1400 R$0.1900 58
Multiples
P/E Multiple R$0.0700 R$0.0900 R$0.1100 63
P/B Multiple R$0.0900 R$0.1200 R$0.1500 55
Asset-Based
NCAV (Graham) R$0.5700 R$0.7600 R$1.14 54
Growth DCF
Growth DCF R$1.20 R$2.37 R$4.55 71
Rev-Margin DCF R$0.7200 R$1.43 R$2.50 67
Economic Profit
Residual Income R$0.7600 R$0.6900 R$0.6600 68

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Quality Score breakdown

Overall quality 64/100

Of which business quality 63 · Market factors (momentum, volatility) 35

Profitability 15
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Cashflow 90
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 94
Disciplined investing over empire-building
Low Volatility 24
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 28
Distance to the 52-week high (market factor)
Net Issuance 94
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+13.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+31.6%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−49.4% (2022) → −2.7% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed

B2HI34 screens overvalued: fair value 65% below the price. Compare with SAP SE →

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Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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Shopify Inc SHOP $144.01 $64.36 −55%
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Snowflake Inc SNOW $330.31 $74.36 −77%
Automatic Data Processing, Inc ADP $261.80 $150.01 −43%
Adobe Inc ADBE $239.94 $454.04 +89%
Datadog, Inc DDOG $268.70 $32.52 −88%
Cadence Design Systems, Inc CDNS $326.70 $225.48 −31%

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BILL Holdings · Fair Value
R$0.4400 −65%Fair Value
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Cite: Fair Value Calculator (2026). "BILL Holdings Fair Value". https://www.fairvalue-calculator.com/stock/B2HI34

Frequently asked questions

Is BILL Holdings (B2HI34) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of R$0.4400 versus a price of R$1.26, about −65% upside (overvalued).
What is the fair value of B2HI34?
Our model-based fair value for BILL Holdings is R$0.4400 (as of Sep 24, 2026), built from audited fundamentals. The current price: R$1.26.
What is the quality score of B2HI34?
BILL Holdings has a Quality Score of 64/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for BILL Holdings (B2HI34)?
Our model-based price target is the fair value of R$0.4400 (as of Sep 24, 2026) from 11 valuation models. Cautious scenario R$0.2800, optimistic scenario R$0.6100. It is a calculation from audited fundamentals, not an analyst target.
What is the BILL Holdings stock forecast for 2026?
Our models put fair value at R$0.4400, about −65% upside versus a price of R$1.26 (overvalued). Cautious scenario R$0.2800, optimistic scenario R$0.6100. The calculation is refreshed regularly with new filings.
What is the revenue of BILL Holdings (B2HI34)?
BILL Holdings reported trailing-twelve-month revenue of about $1.6B (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of BILL Holdings (B2HI34)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BILL Holdings it is R$0.4400 per share (as of Sep 24, 2026), against a price of R$1.26. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is BILL Holdings stock overvalued or undervalued in 2026?
As of Sep 24, 2026, B2HI34 trades above its calculated fair value: price R$1.26, fair value R$0.4400, a gap of about −65% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of B2HI34?
No. The price is what the market pays today (R$1.26); the fair value is what the company's own numbers justify (R$0.4400). For BILL Holdings the two are R$0.8200 per share apart. That gap is exactly why we show both numbers side by side.
How much is BILL Holdings worth?
The market values BILL Holdings at about R$22.1B (market capitalisation, as of Sep 24, 2026). Per share that is R$1.26; our models calculate a fair value of R$0.4400 per share.
What do the bullish and bearish scenarios say about B2HI34?
Our models span a range for BILL Holdings: cautious scenario R$0.2800, base R$0.4400, optimistic R$0.6100 per share (as of Sep 24, 2026, price R$1.26). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is B2HI34 from its 52-week high?
BILL Holdings trades at R$1.26, about 28% below its 52-week high of R$1.74 and 40% above the low of R$0.9000 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of R$0.4400 is for.
Which stocks are comparable to BILL Holdings?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is BILL Holdings stock attractive at the current price?
The data as of Sep 24, 2026: price R$1.26, calculated fair value R$0.4400 (−65%), Quality Score 64/100, from 11 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of B2HI34 calculated?
We run BILL Holdings through 11 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of R$0.4400, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. BILL Holdings itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of BILL Holdings (B2HI34)?
The closing price on Oct 2, 2026 was R$1.26. Our model-based fair value is R$0.4400, about −65% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BILL Holdings right now?
The price sits above even our optimistic bull case (R$0.6100). The favourable scenario is already priced in. Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (R$0.2800 to R$0.6100) leaves room in how you read the outcome.

Key figures of BILL Holdings

How large is the market capitalisation of BILL Holdings (B2HI34)?
The market capitalisation of BILL Holdings is R$22.1B (≈ $4.2B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of BILL Holdings (B2HI34)?
The price-to-sales ratio of BILL Holdings is 13.8 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of BILL Holdings (B2HI34)?
The net margin of BILL Holdings is 1.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of BILL Holdings (B2HI34)?
On an EBIT basis the return on assets of BILL Holdings is −2.1% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of BILL Holdings (B2HI34)?
The operating margin of BILL Holdings is 1.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BILL Holdings (B2HI34)?
Revenue at BILL Holdings is growing +13.5% versus a year earlier (3y avg +31.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does BILL Holdings (B2HI34) generate?
The free cash flow of BILL Holdings is $310M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does BILL Holdings (B2HI34) carry?
The net debt of BILL Holdings is $676M (fiscal year 2025, ≈ 2.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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