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