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 $128.34 per share. The share price was $44.25 on September 25, 2026, 66% 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% | $74.82 | +69% |
| Base | 15.0% | 9.0% | $128.34 | +190% |
| Bull | 20.0% | 8.0% | $228.00 | +415% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $168.86 | $181.50 | $196.94 | $216.25 | $241.07 |
| 8.0% | $138.42 | $146.62 | $156.30 | $167.92 | $182.12 |
| 9.0% | $116.27 | $121.88 | $128.34 | $135.88 | $144.80 |
| 10.0% | $99.48 | $103.46 | $107.98 | $113.14 | $119.09 |
| 11.0% | $86.34 | $89.26 | $92.52 | $96.20 | $100.36 |
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