What is BILL Holdings, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on BILL Holdings, Inc.'s reported free cash flow gives $127.17 per share. The share price was $52.90 on November 10, 2026, 58% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $73.65 | +39% |
| Base | 15.0% | 9.0% | $127.17 | +140% |
| Bull | 20.0% | 8.0% | $226.83 | +329% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $167.69 | $180.33 | $195.77 | $215.08 | $239.90 |
| 8.0% | $137.25 | $145.45 | $155.13 | $166.75 | $180.95 |
| 9.0% | $115.10 | $120.71 | $127.17 | $134.71 | $143.63 |
| 10.0% | $98.31 | $102.29 | $106.81 | $111.97 | $117.92 |
| 11.0% | $85.17 | $88.09 | $91.35 | $95.03 | $99.19 |
Where the presets come from
Base: years 1 to 5 grow at BILL Holdings, Inc.'s revenue growth rate over the last 5 fiscal years (47.3% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions