Bill Com Holdings Inc (BILL)

Inventory turnover

Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020
Cost of revenue (ttm) US$ in thousands 272,104 278,422 281,077 272,846 264,176 236,822 215,805 204,895 193,976 184,865 173,357 160,276 145,004 121,856 99,948 79,535 61,806 51,613 46,289 42,103
Inventory US$ in thousands — — — — — 0 3,655,440 3,263,530 3,355,910 3,106,360 3,474,050 — -256,392 -1,800 -2,800 -2,700 0 — 0 0
Inventory turnover — — — — — — 0.06 0.06 0.06 0.06 0.05 — — — — — — — — —

June 30, 2025 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $272,104K ÷ $—K
= —

The inventory turnover for Bill Com Holdings Inc. exhibits a notably limited historical record, with data available only from December 31, 2022, onward. Prior to this date, no figures are reported, indicating either a lack of inventory or non-reporting during those periods. Starting from December 31, 2022, the inventory turnover ratio is recorded at 0.05, displaying a minimal rate suggesting that the company's inventory is turning over approximately once every 20 times annually.

In the subsequent quarters, the ratio slightly increases to 0.06, maintaining this level through March 31, 2023, June 30, 2023, September 30, 2023, and December 31, 2023. This indicates a marginal improvement in how frequently inventory is sold and replenished, although the ratio remains relatively low. Such low turnover ratios typically imply that the company holds a substantial quantity of inventory relative to sales, which could point to excess inventory levels, slow-moving stock, or a business model that involves prolonged inventory holding periods.

Overall, the stabilized yet low inventory turnover ratio over multiple quarters suggests a conservative or potentially inefficient inventory management approach. The sustained low rate warrants further investigation into inventory practices, sales efficiency, and potential impacts on liquidity and profitability.