vs
Side-by-side financial comparison of Air Products (APD) and LPL Financial Holdings Inc. (LPLA). Click either name above to swap in a different company.
LPL Financial Holdings Inc. is the larger business by last-quarter revenue ($4.9B vs $3.2B, roughly 1.6× Air Products). Air Products runs the higher net margin — 22.9% vs 7.2%, a 15.6% gap on every dollar of revenue. On growth, LPL Financial Holdings Inc. posted the faster year-over-year revenue change (34.6% vs 8.8%). Over the past eight quarters, LPL Financial Holdings Inc.'s revenue compounded faster (29.8% CAGR vs 3.1%).
Air Products and Chemicals, Inc. provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasificati...
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.
APD vs LPLA — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.2B | $4.9B |
| Net Profit | $724.8M | $356.4M |
| Gross Margin | 31.1% | 32.3% |
| Operating Margin | — | — |
| Net Margin | 22.9% | 7.2% |
| Revenue YoY | 8.8% | 34.6% |
| Net Profit YoY | 166.6% | — |
| EPS (diluted) | $3.19 | $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 | $3.2B | $4.9B | ||
| Q4 25 | $3.1B | $4.9B | ||
| Q3 25 | $3.2B | $4.6B | ||
| Q2 25 | $3.0B | $3.8B | ||
| Q1 25 | $2.9B | $3.7B | ||
| Q4 24 | $2.9B | $3.5B | ||
| Q3 24 | $3.2B | $3.1B | ||
| Q2 24 | $3.0B | $2.9B |
| Q1 26 | $724.8M | $356.4M | ||
| Q4 25 | $678.2M | $300.7M | ||
| Q3 25 | $4.9M | $-29.5M | ||
| Q2 25 | $713.8M | $273.2M | ||
| Q1 25 | $-1.7B | $318.6M | ||
| Q4 24 | $617.4M | $270.7M | ||
| Q3 24 | $1.9B | $255.3M | ||
| Q2 24 | $696.6M | $243.8M |
| Q1 26 | 31.1% | 32.3% | ||
| Q4 25 | 32.1% | — | ||
| Q3 25 | 32.3% | — | ||
| Q2 25 | 32.5% | — | ||
| Q1 25 | 29.6% | — | ||
| Q4 24 | 31.2% | — | ||
| Q3 24 | 34.0% | — | ||
| Q2 24 | 32.8% | — |
| Q1 26 | — | — | ||
| Q4 25 | 23.7% | 8.1% | ||
| Q3 25 | 0.5% | -0.7% | ||
| Q2 25 | 26.2% | 9.6% | ||
| Q1 25 | -79.8% | 11.4% | ||
| Q4 24 | 22.0% | 9.7% | ||
| Q3 24 | 76.1% | 11.2% | ||
| Q2 24 | 24.7% | 11.3% |
| Q1 26 | 22.9% | 7.2% | ||
| Q4 25 | 21.9% | 6.1% | ||
| Q3 25 | 0.2% | -0.6% | ||
| Q2 25 | 23.6% | 7.1% | ||
| Q1 25 | -59.3% | 8.7% | ||
| Q4 24 | 21.1% | 7.7% | ||
| Q3 24 | 61.2% | 8.2% | ||
| Q2 24 | 23.3% | 8.3% |
| Q1 26 | $3.19 | $4.43 | ||
| Q4 25 | $3.04 | $3.65 | ||
| Q3 25 | $0.03 | $-0.37 | ||
| Q2 25 | $3.20 | $3.40 | ||
| Q1 25 | $-7.77 | $4.24 | ||
| Q4 24 | $2.77 | $3.58 | ||
| Q3 24 | $8.75 | $3.39 | ||
| Q2 24 | $3.13 | $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 | — | $1.0B |
| Total DebtLower is stronger | $17.4M | — |
| Stockholders' EquityBook value | $18.1M | $5.7B |
| Total Assets | $41.6M | $18.8B |
| Debt / EquityLower = less leverage | 0.96× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.0B | ||
| Q4 25 | $1.0B | $1.1B | ||
| Q3 25 | $1.9B | $1.6B | ||
| Q2 25 | $2.3B | $4.3B | ||
| Q1 25 | $1.6B | $1.4B | ||
| Q4 24 | $2.0B | $1.0B | ||
| Q3 24 | $3.0B | $1.6B | ||
| Q2 24 | $2.4B | $1.4B |
| Q1 26 | $17.4M | — | ||
| 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 | $18.1M | $5.7B | ||
| Q4 25 | $15.4B | $5.3B | ||
| Q3 25 | $15.0B | $5.0B | ||
| Q2 25 | $15.5B | $5.1B | ||
| Q1 25 | $14.7B | $3.1B | ||
| Q4 24 | $16.7B | $2.9B | ||
| Q3 24 | $17.0B | $2.8B | ||
| Q2 24 | $15.1B | $2.5B |
| Q1 26 | $41.6M | $18.8B | ||
| Q4 25 | $41.2B | $18.5B | ||
| Q3 25 | $41.1B | $18.0B | ||
| Q2 25 | $41.7B | $17.5B | ||
| Q1 25 | $38.9B | $14.0B | ||
| Q4 24 | $40.0B | $13.3B | ||
| Q3 24 | $39.6B | $11.9B | ||
| Q2 24 | $37.0B | $11.5B |
| Q1 26 | 0.96× | — | ||
| 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
APD
Segment breakdown not available.
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% |
