Bill Com Holdings Inc (BILL)

Operating return on assets (Operating ROA)

		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
Operating income (ttm)	US$ in thousands	-56,910	-80,578	-79,254	-125,218	-174,167	-193,341	-219,937	-264,726	-295,773	-337,730	-366,695	-330,307	-318,764	-306,128	-238,241	-176,337	-113,967	-53,509	-47,928	-41,695
Total assets	US$ in thousands	10,064,000	9,632,640	9,674,210	9,045,060	9,303,690	9,122,260	9,872,410	9,620,380	9,636,020	9,380,880	9,738,270	9,253,100	9,256,030	9,183,840	9,510,960	8,564,200	5,969,170	3,800,160	4,082,420	2,479,210
Operating ROA		-0.57%	-0.84%	-0.82%	-1.38%	-1.87%	-2.12%	-2.23%	-2.75%	-3.07%	-3.60%	-3.77%	-3.57%	-3.44%	-3.33%	-2.50%	-2.06%	-1.91%	-1.41%	-1.17%	-1.68%

June 30, 2025 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $-56,910K ÷ $10,064,000K
= -0.57%

The analysis of Bill Com Holdings Inc's operating return on assets (ROA) over the specified period reveals a consistent negative trend, indicating ongoing challenges in generating operating profits relative to total assets. From September 30, 2020, to June 30, 2021, the operating ROA fluctuated within a narrow negative range, beginning at approximately -1.68% and slightly improving to -1.17%. However, this period was characterized by volatility and a continued downward trajectory.

Subsequent quarters exhibited a steady decline, with the operating ROA reaching its most negative point around September 30, 2022, at approximately -3.57%, reflecting growing inefficiencies or increased operating costs relative to asset base. This persistent negative performance suggests that the company was consistently experiencing operating losses or low operating profits during this period.

From late 2022 onwards, a gradual improvement is observed, with the operating ROA decreasing in magnitude. By March 31, 2023, the ratio was around -3.60%, slightly better than the record lows but still negative. The most noteworthy trend appears from the second quarter of 2023 through the first quarter of 2025, where the negative ROA continues to diminish, reaching approximately -0.57% as of June 30, 2025. This indicates a significant reduction in operating losses and suggests improved operational efficiency or cost management.

In summary, the company's operating ROA has demonstrated a prolonged period of losses, with slight improvements in recent quarters pointing toward a gradual recovery or operational restructuring. However, as of the latest available data, the company has yet to achieve a positive operating return on assets, which remains critical to assess in terms of long-term operational sustainability and profitability.