analyticsFintech / Vertical SaaS
Data as of Q1 2026
Summary Verdict
BILL: 2—SHOP: 3wins
Rule of 40
38.2BILL
40.5SHOP
check_circleSHOP leads
Revenue Growth
22.1%BILL
24.5%SHOP
check_circleSHOP leads
Gross Margin
81%BILL
49%SHOP
check_circleBILL leads
FCF Margin
16.1%BILL
16.0%SHOP
check_circleBILL leads
Operating Margin
-4.3%BILL
11.0%SHOP
check_circleSHOP leads
NRR
—BILL
—SHOP
Metric
Rule of 40Efficiency score
BILL
38.2
SHOP
40.5check_circle
Revenue GrowthYoY
BILL
22.1%
SHOP
24.5%check_circle
Gross Margin% of revenue
BILL
81%check_circle
SHOP
49%
FCF MarginFree cash flow
BILL
16.1%check_circle
SHOP
16.0%
Operating MarginGAAP
BILL
-4.3%
SHOP
11.0%check_circle
NRRNet retention
BILL
N/A
SHOP
N/A
EV / RevenueValuation multiple
BILL
2.2xcheck_circle
SHOP
12.7x
Market CapUSD
BILL
$3.6B
SHOP
$142.1Bcheck_circle
ARR GrowthYoY
BILL
N/A
SHOP
N/A
CAC PaybackMonths to recover
BILL
N/A
SHOP
N/A
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insights
Analysis
As of Q1 2026, Bill.com Holdings, Inc. trades at 2.2x EV/Revenue versus Shopify Inc. at 12.7x. On the Rule of 40, Bill.com Holdings, Inc. scores 38.2 compared to Shopify Inc.'s 40.5, placing Shopify Inc. ahead in operating efficiency. Gross margins stand at Bill.com Holdings, Inc. 81% vs Shopify Inc. 49%.