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Side-by-side financial comparison of Danaher Corporation (DHR) and LPL Financial Holdings Inc. (LPLA). Click either name above to swap in a different company.
Danaher Corporation is the larger business by last-quarter revenue ($6.0B vs $4.9B, roughly 1.2× LPL Financial Holdings Inc.). Danaher Corporation runs the higher net margin — 17.3% vs 6.1%, a 11.2% gap on every dollar of revenue. On growth, LPL Financial Holdings Inc. posted the faster year-over-year revenue change (40.4% vs 3.7%). Danaher Corporation produced more free cash flow last quarter ($1.1B vs $613.3M). Over the past eight quarters, LPL Financial Holdings Inc.'s revenue compounded faster (32.0% CAGR vs 1.8%).
Danaher CorporationDHREarnings & Financial Report
Danaher Corporation is an American healthcare company headquartered in Washington, D.C.. It develops products used for advances in biotechnology, life sciences, and diagnostics. The company operates three divisions: biotechnology, which develops products for the development of therapeutics; life sciences, which develops products to identify causes of disease, new therapies, and to test and manufacture new drugs, vaccines and gene editing technologies; and diagnostics, which develops instruments,...
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.
DHR vs LPLA — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.0B | $4.9B |
| Net Profit | $1.0B | $300.7M |
| Gross Margin | 60.3% | — |
| Operating Margin | 22.6% | 8.1% |
| Net Margin | 17.3% | 6.1% |
| Revenue YoY | 3.7% | 40.4% |
| Net Profit YoY | 7.9% | 11.1% |
| EPS (diluted) | $1.45 | $3.65 |
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 | $6.0B | — | ||
| Q4 25 | $6.8B | $4.9B | ||
| Q3 25 | $6.1B | $4.6B | ||
| Q2 25 | $5.9B | $3.8B | ||
| Q1 25 | $5.7B | $3.7B | ||
| Q4 24 | $6.5B | $3.5B | ||
| Q3 24 | $5.8B | $3.1B | ||
| Q2 24 | $5.7B | $2.9B |
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.2B | $300.7M | ||
| Q3 25 | $908.0M | $-29.5M | ||
| Q2 25 | $555.0M | $273.2M | ||
| Q1 25 | $954.0M | $318.6M | ||
| Q4 24 | $1.1B | $270.7M | ||
| Q3 24 | $818.0M | $255.3M | ||
| Q2 24 | $907.0M | $243.8M |
| Q1 26 | 60.3% | — | ||
| Q4 25 | 58.0% | — | ||
| Q3 25 | 58.2% | — | ||
| Q2 25 | 59.3% | — | ||
| Q1 25 | 61.2% | — | ||
| Q4 24 | 59.5% | — | ||
| Q3 24 | 58.7% | — | ||
| Q2 24 | 59.7% | — |
| Q1 26 | 22.6% | — | ||
| Q4 25 | 22.0% | 8.1% | ||
| Q3 25 | 19.1% | -0.7% | ||
| Q2 25 | 12.8% | 9.6% | ||
| Q1 25 | 22.2% | 11.4% | ||
| Q4 24 | 21.8% | 9.7% | ||
| Q3 24 | 16.5% | 11.2% | ||
| Q2 24 | 20.3% | 11.3% |
| Q1 26 | 17.3% | — | ||
| Q4 25 | 17.5% | 6.1% | ||
| Q3 25 | 15.0% | -0.6% | ||
| Q2 25 | 9.3% | 7.1% | ||
| Q1 25 | 16.6% | 8.7% | ||
| Q4 24 | 16.6% | 7.7% | ||
| Q3 24 | 14.1% | 8.2% | ||
| Q2 24 | 15.8% | 8.3% |
| Q1 26 | $1.45 | — | ||
| Q4 25 | $1.69 | $3.65 | ||
| Q3 25 | $1.27 | $-0.37 | ||
| Q2 25 | $0.77 | $3.40 | ||
| Q1 25 | $1.32 | $4.24 | ||
| Q4 24 | $1.50 | $3.58 | ||
| Q3 24 | $1.12 | $3.39 | ||
| Q2 24 | $1.22 | $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 | — | $1.1B |
| Total DebtLower is stronger | — | $7.3B |
| Stockholders' EquityBook value | — | $5.3B |
| Total Assets | — | $18.5B |
| Debt / EquityLower = less leverage | — | 1.36× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $1.6B | ||
| Q2 25 | — | $4.3B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $1.4B |
| Q1 26 | — | — | ||
| Q4 25 | $18.4B | $7.3B | ||
| Q3 25 | $16.9B | $7.5B | ||
| Q2 25 | $17.4B | $7.2B | ||
| Q1 25 | $16.5B | $5.7B | ||
| Q4 24 | $16.0B | $5.5B | ||
| Q3 24 | $17.5B | $4.4B | ||
| Q2 24 | $17.0B | $4.4B |
| Q1 26 | — | — | ||
| Q4 25 | $52.5B | $5.3B | ||
| Q3 25 | $51.1B | $5.0B | ||
| Q2 25 | $52.3B | $5.1B | ||
| Q1 25 | $50.8B | $3.1B | ||
| Q4 24 | $49.5B | $2.9B | ||
| Q3 24 | $51.3B | $2.8B | ||
| Q2 24 | $49.9B | $2.5B |
| Q1 26 | — | — | ||
| Q4 25 | $83.5B | $18.5B | ||
| Q3 25 | $79.9B | $18.0B | ||
| Q2 25 | $81.6B | $17.5B | ||
| Q1 25 | $79.1B | $14.0B | ||
| Q4 24 | $77.5B | $13.3B | ||
| Q3 24 | $80.6B | $11.9B | ||
| Q2 24 | $78.6B | $11.5B |
| Q1 26 | — | — | ||
| Q4 25 | 0.35× | 1.36× | ||
| Q3 25 | 0.33× | 1.49× | ||
| Q2 25 | 0.33× | 1.41× | ||
| Q1 25 | 0.32× | 1.82× | ||
| Q4 24 | 0.32× | 1.87× | ||
| Q3 24 | 0.34× | 1.60× | ||
| Q2 24 | 0.34× | 1.77× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.3B | $785.0M |
| Free Cash FlowOCF − Capex | $1.1B | $613.3M |
| FCF MarginFCF / Revenue | 18.2% | 12.4% |
| Capex IntensityCapex / Revenue | 4.0% | 3.5% |
| Cash ConversionOCF / Net Profit | 1.28× | 2.61× |
| TTM Free Cash FlowTrailing 4 quarters | $5.3B | $-981.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.3B | — | ||
| Q4 25 | $2.1B | $785.0M | ||
| Q3 25 | $1.7B | $-1.7B | ||
| Q2 25 | $1.3B | $193.3M | ||
| Q1 25 | $1.3B | $339.8M | ||
| Q4 24 | $2.0B | $-178.8M | ||
| Q3 24 | $1.5B | $209.3M | ||
| Q2 24 | $1.4B | $-178.9M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.7B | $613.3M | ||
| Q3 25 | $1.4B | $-1.9B | ||
| Q2 25 | $1.1B | $56.3M | ||
| Q1 25 | $1.1B | $220.3M | ||
| Q4 24 | $1.5B | $-344.3M | ||
| Q3 24 | $1.2B | $62.3M | ||
| Q2 24 | $1.1B | $-307.8M |
| Q1 26 | 18.2% | — | ||
| Q4 25 | 25.5% | 12.4% | ||
| Q3 25 | 22.6% | -41.1% | ||
| Q2 25 | 18.4% | 1.5% | ||
| Q1 25 | 18.4% | 6.0% | ||
| Q4 24 | 23.0% | -9.8% | ||
| Q3 24 | 21.0% | 2.0% | ||
| Q2 24 | 19.7% | -10.5% |
| Q1 26 | 4.0% | — | ||
| Q4 25 | 5.4% | 3.5% | ||
| Q3 25 | 4.8% | 3.1% | ||
| Q2 25 | 4.2% | 3.6% | ||
| Q1 25 | 4.3% | 3.3% | ||
| Q4 24 | 7.9% | 4.7% | ||
| Q3 24 | 5.1% | 4.7% | ||
| Q2 24 | 5.0% | 4.4% |
| Q1 26 | 1.28× | — | ||
| Q4 25 | 1.77× | 2.61× | ||
| Q3 25 | 1.83× | — | ||
| Q2 25 | 2.41× | 0.71× | ||
| Q1 25 | 1.36× | 1.07× | ||
| Q4 24 | 1.86× | -0.66× | ||
| Q3 24 | 1.85× | 0.82× | ||
| Q2 24 | 1.56× | -0.73× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
