Bill Com Holdings Inc (BILL)

Operating return on assets (Operating ROA)

		Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021
Operating income	US$ in thousands	24,784	-174,164	-295,773	-316,818	-113,967
Total assets	US$ in thousands	10,064,000	9,178,810	9,636,020	9,256,030	5,969,170
Operating ROA		0.25%	-1.90%	-3.07%	-3.42%	-1.91%

June 30, 2025 calculation

Operating ROA = Operating income ÷ Total assets
= $24,784K ÷ $10,064,000K
= 0.25%

The analysis of Bill Com Holdings Inc.'s operating return on assets (ROA) over the specified period reveals notable trends and fluctuations. As of June 30, 2021, the company's operating ROA was recorded at -1.91%, indicating a slight negative profitability relative to its assets during that year. This negative figure persisted into the subsequent year, with a decline to -3.42% as of June 30, 2022, suggesting an increase in negative operating performance or higher asset utilization inefficiencies that adversely impacted operating profitability.

By June 30, 2023, the operating ROA showed a marginal improvement, rising to -3.07%. Although the figure remained in negative territory, the lesser negative value signifies a slight operational improvement or stabilization compared to the previous year. However, the trend again indicates challenges in generating positive operating returns relative to assets.

The continued trajectory of the ROA demonstrates a significant shift by June 30, 2024, where the figure improved further to -1.90%. This movement toward less negative territory indicates that the company's operating efficiency and asset utilization are enhancing, though profitability has yet to turn positive.

Most notably, by June 30, 2025, the operating ROA moves into positive territory at 0.25%. This transition marks a pivotal point, reflecting a turnaround in operational performance. The positive ROA suggests that Bill Com Holdings Inc. has begun to generate operating income that exceeds its asset base's cost, pointing to improved operational efficiency, better profit margins, or a combination thereof.

In summary, the company's operating ROA has undergone a progressive improvement over the four-year span, moving from negative values in 2021–2024 to a positive position in 2025. The trend highlights a trajectory of operational recovery and the potential attainment of sustainable profitability relative to asset deployment.