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Side-by-side financial comparison of DaVita (DVA) 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 $3.6B, roughly 1.4× DaVita). DaVita runs the higher net margin — 6.5% vs 6.1%, a 0.4% gap on every dollar of revenue. On growth, LPL Financial Holdings Inc. posted the faster year-over-year revenue change (40.4% vs 12.3%). Over the past eight quarters, LPL Financial Holdings Inc.'s revenue compounded faster (32.0% CAGR vs 6.6%).
DaVita Inc. is an American company that provides kidney dialysis services through a network of 2,675 outpatient centers in the United States, serving 200,800 patients, and 367 outpatient centers in 11 other countries serving 49,400 patients. The company primarily treats end-stage renal disease (ESRD), which requires patients to undergo kidney dialysis, often 3 times per week for the rest of their lives unless they receive a kidney transplant via organ donation.
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.
DVA vs LPLA — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.6B | $4.9B |
| Net Profit | $234.2M | $300.7M |
| Gross Margin | — | — |
| Operating Margin | 15.5% | 8.1% |
| Net Margin | 6.5% | 6.1% |
| Revenue YoY | 12.3% | 40.4% |
| Net Profit YoY | 43.8% | 11.1% |
| EPS (diluted) | $3.22 | $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 | $3.6B | — | ||
| Q4 25 | $3.6B | $4.9B | ||
| Q3 25 | $3.4B | $4.6B | ||
| Q2 25 | $3.4B | $3.8B | ||
| Q1 25 | $3.2B | $3.7B | ||
| Q4 24 | $3.3B | $3.5B | ||
| Q3 24 | $3.3B | $3.1B | ||
| Q2 24 | $3.2B | $2.9B |
| Q1 26 | $234.2M | — | ||
| Q4 25 | $234.2M | $300.7M | ||
| Q3 25 | $150.3M | $-29.5M | ||
| Q2 25 | $199.3M | $273.2M | ||
| Q1 25 | $162.9M | $318.6M | ||
| Q4 24 | $259.3M | $270.7M | ||
| Q3 24 | $214.7M | $255.3M | ||
| Q2 24 | $222.7M | $243.8M |
| Q1 26 | 15.5% | — | ||
| Q4 25 | 15.5% | 8.1% | ||
| Q3 25 | 14.8% | -0.7% | ||
| Q2 25 | 15.9% | 9.6% | ||
| Q1 25 | 13.6% | 11.4% | ||
| Q4 24 | 17.2% | 9.7% | ||
| Q3 24 | 16.4% | 11.2% | ||
| Q2 24 | 15.9% | 11.3% |
| Q1 26 | 6.5% | — | ||
| Q4 25 | 6.5% | 6.1% | ||
| Q3 25 | 4.4% | -0.6% | ||
| Q2 25 | 5.9% | 7.1% | ||
| Q1 25 | 5.1% | 8.7% | ||
| Q4 24 | 7.9% | 7.7% | ||
| Q3 24 | 6.6% | 8.2% | ||
| Q2 24 | 7.0% | 8.3% |
| Q1 26 | $3.22 | — | ||
| Q4 25 | $3.22 | $3.65 | ||
| Q3 25 | $2.04 | $-0.37 | ||
| Q2 25 | $2.58 | $3.40 | ||
| Q1 25 | $2.00 | $4.24 | ||
| Q4 24 | $3.08 | $3.58 | ||
| Q3 24 | $2.50 | $3.39 | ||
| Q2 24 | $2.50 | $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 | $700.7M | $1.1B |
| Total DebtLower is stronger | $10.2B | $7.3B |
| Stockholders' EquityBook value | $-651.1M | $5.3B |
| Total Assets | $17.5B | $18.5B |
| Debt / EquityLower = less leverage | — | 1.36× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $700.7M | — | ||
| Q4 25 | $700.7M | $1.1B | ||
| Q3 25 | $736.5M | $1.6B | ||
| Q2 25 | $739.4M | $4.3B | ||
| Q1 25 | $511.9M | $1.4B | ||
| Q4 24 | $846.0M | $1.0B | ||
| Q3 24 | $1.1B | $1.6B | ||
| Q2 24 | $437.2M | $1.4B |
| Q1 26 | $10.2B | — | ||
| Q4 25 | $10.2B | $7.3B | ||
| Q3 25 | $10.2B | $7.5B | ||
| Q2 25 | $10.1B | $7.2B | ||
| Q1 25 | $9.6B | $5.7B | ||
| Q4 24 | $9.2B | $5.5B | ||
| Q3 24 | $9.3B | $4.4B | ||
| Q2 24 | $8.5B | $4.4B |
| Q1 26 | $-651.1M | — | ||
| Q4 25 | $-651.1M | $5.3B | ||
| Q3 25 | $-571.9M | $5.0B | ||
| Q2 25 | $-369.6M | $5.1B | ||
| Q1 25 | $-267.1M | $3.1B | ||
| Q4 24 | $121.1M | $2.9B | ||
| Q3 24 | $386.7M | $2.8B | ||
| Q2 24 | $632.9M | $2.5B |
| Q1 26 | $17.5B | — | ||
| Q4 25 | $17.5B | $18.5B | ||
| Q3 25 | $17.6B | $18.0B | ||
| Q2 25 | $17.5B | $17.5B | ||
| Q1 25 | $17.1B | $14.0B | ||
| Q4 24 | $17.3B | $13.3B | ||
| Q3 24 | $17.5B | $11.9B | ||
| Q2 24 | $17.0B | $11.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.36× | ||
| Q3 25 | — | 1.49× | ||
| Q2 25 | — | 1.41× | ||
| Q1 25 | — | 1.82× | ||
| Q4 24 | 75.76× | 1.87× | ||
| Q3 24 | 23.95× | 1.60× | ||
| Q2 24 | 13.35× | 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 | — | $785.0M |
| Free Cash FlowOCF − Capex | — | $613.3M |
| FCF MarginFCF / Revenue | — | 12.4% |
| Capex IntensityCapex / Revenue | — | 3.5% |
| Cash ConversionOCF / Net Profit | — | 2.61× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-981.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $540.7M | $785.0M | ||
| Q3 25 | $841.5M | $-1.7B | ||
| Q2 25 | $324.2M | $193.3M | ||
| Q1 25 | $180.0M | $339.8M | ||
| Q4 24 | $547.6M | $-178.8M | ||
| Q3 24 | $810.4M | $209.3M | ||
| Q2 24 | $798.8M | $-178.9M |
| Q1 26 | — | — | ||
| Q4 25 | $395.3M | $613.3M | ||
| Q3 25 | $675.4M | $-1.9B | ||
| Q2 25 | $203.1M | $56.3M | ||
| Q1 25 | $36.8M | $220.3M | ||
| Q4 24 | $377.0M | $-344.3M | ||
| Q3 24 | $671.4M | $62.3M | ||
| Q2 24 | $674.1M | $-307.8M |
| Q1 26 | — | — | ||
| Q4 25 | 10.9% | 12.4% | ||
| Q3 25 | 19.7% | -41.1% | ||
| Q2 25 | 6.0% | 1.5% | ||
| Q1 25 | 1.1% | 6.0% | ||
| Q4 24 | 11.4% | -9.8% | ||
| Q3 24 | 20.6% | 2.0% | ||
| Q2 24 | 21.2% | -10.5% |
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | 3.5% | ||
| Q3 25 | 4.9% | 3.1% | ||
| Q2 25 | 3.6% | 3.6% | ||
| Q1 25 | 4.4% | 3.3% | ||
| Q4 24 | 5.2% | 4.7% | ||
| Q3 24 | 4.3% | 4.7% | ||
| Q2 24 | 3.9% | 4.4% |
| Q1 26 | — | — | ||
| Q4 25 | 2.31× | 2.61× | ||
| Q3 25 | 5.60× | — | ||
| Q2 25 | 1.63× | 0.71× | ||
| Q1 25 | 1.10× | 1.07× | ||
| Q4 24 | 2.11× | -0.66× | ||
| Q3 24 | 3.77× | 0.82× | ||
| Q2 24 | 3.59× | -0.73× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
