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Side-by-side financial comparison of Automatic Data Processing (ADP) and LPL Financial Holdings Inc. (LPLA). Click either name above to swap in a different company.
Automatic Data Processing is the larger business by last-quarter revenue ($5.9B vs $4.9B, roughly 1.2× LPL Financial Holdings Inc.). Automatic Data Processing runs the higher net margin — 22.9% vs 7.2%, a 15.7% gap on every dollar of revenue. On growth, LPL Financial Holdings Inc. posted the faster year-over-year revenue change (34.6% vs 7.0%). Over the past eight quarters, LPL Financial Holdings Inc.'s revenue compounded faster (29.8% CAGR vs 11.6%).
Automatic Data Processing, Inc. (ADP) is an American multinational provider of cloud-based human resources management, payroll processing, and professional employer organization (PEO) services, headquartered in Roseland, New Jersey.
LPL Financial Holdings Inc. was founded in 1989 and is considered the largest independent broker-dealer in the United States. As of 2021 the company had more than 17,500 financial advisors, over US$1 trillion in advisory and brokerage assets, and generated approximately $10.3 billion in annual revenue for the 2023 fiscal year. LPL Financial has main offices in Boston, Fort Mill, Austin, and San Diego. The company is a member of FINRA and the SIPC.
ADP vs LPLA — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $5.9B | $4.9B |
| Net Profit | $1.4B | $356.4M |
| Gross Margin | — | 32.3% |
| Operating Margin | — | — |
| Net Margin | 22.9% | 7.2% |
| Revenue YoY | 7.0% | 34.6% |
| Net Profit YoY | 8.4% | — |
| EPS (diluted) | $10.01 | $4.43 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $5.9B | $4.9B | ||
| Q4 25 | $5.4B | $4.9B | ||
| Q3 25 | $5.2B | $4.6B | ||
| Q2 25 | $5.1B | $3.8B | ||
| Q1 25 | $5.6B | $3.7B | ||
| Q4 24 | $5.0B | $3.5B | ||
| Q3 24 | $4.8B | $3.1B | ||
| Q2 24 | $4.8B | $2.9B |
| Q1 26 | $1.4B | $356.4M | ||
| Q4 25 | $1.1B | $300.7M | ||
| Q3 25 | $1.0B | $-29.5M | ||
| Q2 25 | $910.7M | $273.2M | ||
| Q1 25 | $1.2B | $318.6M | ||
| Q4 24 | $963.2M | $270.7M | ||
| Q3 24 | $956.3M | $255.3M | ||
| Q2 24 | $829.3M | $243.8M |
| Q1 26 | — | 32.3% | ||
| Q4 25 | 46.1% | — | ||
| Q3 25 | 45.2% | — | ||
| Q2 25 | 45.1% | — | ||
| Q1 25 | 47.7% | — | ||
| Q4 24 | 45.7% | — | ||
| Q3 24 | 45.5% | — | ||
| Q2 24 | 44.8% | — |
| Q1 26 | — | — | ||
| Q4 25 | 25.8% | 8.1% | ||
| Q3 25 | 25.3% | -0.7% | ||
| Q2 25 | 23.2% | 9.6% | ||
| Q1 25 | 29.2% | 11.4% | ||
| Q4 24 | 25.0% | 9.7% | ||
| Q3 24 | 25.6% | 11.2% | ||
| Q2 24 | 22.8% | 11.3% |
| Q1 26 | 22.9% | 7.2% | ||
| Q4 25 | 19.8% | 6.1% | ||
| Q3 25 | 19.6% | -0.6% | ||
| Q2 25 | 17.8% | 7.1% | ||
| Q1 25 | 22.5% | 8.7% | ||
| Q4 24 | 19.1% | 7.7% | ||
| Q3 24 | 19.8% | 8.2% | ||
| Q2 24 | 17.4% | 8.3% |
| Q1 26 | $10.01 | $4.43 | ||
| Q4 25 | $2.62 | $3.65 | ||
| Q3 25 | $2.49 | $-0.37 | ||
| Q2 25 | $2.23 | $3.40 | ||
| Q1 25 | $3.06 | $4.24 | ||
| Q4 24 | $2.35 | $3.58 | ||
| Q3 24 | $2.34 | $3.39 | ||
| Q2 24 | $2.01 | $3.23 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.2B | $1.0B |
| Total DebtLower is stronger | $4.0B | — |
| Stockholders' EquityBook value | $6.4B | $5.7B |
| Total Assets | $64.5B | $18.8B |
| Debt / EquityLower = less leverage | 0.63× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $3.2B | $1.0B | ||
| Q4 25 | $2.5B | $1.1B | ||
| Q3 25 | $7.9B | $1.6B | ||
| Q2 25 | $7.8B | $4.3B | ||
| Q1 25 | $2.7B | $1.4B | ||
| Q4 24 | $2.2B | $1.0B | ||
| Q3 24 | $7.3B | $1.6B | ||
| Q2 24 | $3.3B | $1.4B |
| Q1 26 | $4.0B | — | ||
| Q4 25 | — | $7.3B | ||
| Q3 25 | — | $7.5B | ||
| Q2 25 | — | $7.2B | ||
| Q1 25 | — | $5.7B | ||
| Q4 24 | — | $5.5B | ||
| Q3 24 | — | $4.4B | ||
| Q2 24 | — | $4.4B |
| Q1 26 | $6.4B | $5.7B | ||
| Q4 25 | $6.4B | $5.3B | ||
| Q3 25 | $6.4B | $5.0B | ||
| Q2 25 | $6.2B | $5.1B | ||
| Q1 25 | $5.9B | $3.1B | ||
| Q4 24 | $5.1B | $2.9B | ||
| Q3 24 | $5.3B | $2.8B | ||
| Q2 24 | $4.5B | $2.5B |
| Q1 26 | $64.5B | $18.8B | ||
| Q4 25 | $84.6B | $18.5B | ||
| Q3 25 | $54.3B | $18.0B | ||
| Q2 25 | $53.4B | $17.5B | ||
| Q1 25 | $56.4B | $14.0B | ||
| Q4 24 | $64.1B | $13.3B | ||
| Q3 24 | $49.5B | $11.9B | ||
| Q2 24 | $54.4B | $11.5B |
| Q1 26 | 0.63× | — | ||
| Q4 25 | — | 1.36× | ||
| Q3 25 | — | 1.49× | ||
| Q2 25 | — | 1.41× | ||
| Q1 25 | — | 1.82× | ||
| Q4 24 | — | 1.87× | ||
| Q3 24 | — | 1.60× | ||
| Q2 24 | — | 1.77× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADP
| Revenues, other than interest on funds held for clients and PEO revenues | $3.6B | 61% |
| PEO revenues (A) (B) (C) | $1.9B | 32% |
| Other | $403.9M | 7% |
LPLA
| Advisory | $2.6B | 53% |
| Sales-based | $705.4M | 14% |
| Trailing | $486.6M | 10% |
| Client cash | $445.3M | 9% |
| Other | $394.5M | 8% |
| Service and fee | $211.0M | 4% |
| Transaction | $80.5M | 2% |
