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Side-by-side financial comparison of Honeywell (HON) and LPL Financial Holdings Inc. (LPLA). Click either name above to swap in a different company.
Honeywell is the larger business by last-quarter revenue ($9.1B vs $4.9B, roughly 1.9× LPL Financial Holdings Inc.). Honeywell runs the higher net margin — 8.7% vs 6.1%, a 2.6% gap on every dollar of revenue. On growth, LPL Financial Holdings Inc. posted the faster year-over-year revenue change (40.4% vs 2.0%). LPL Financial Holdings Inc. produced more free cash flow last quarter ($613.3M vs $56.0M). Over the past eight quarters, LPL Financial Holdings Inc.'s revenue compounded faster (32.0% CAGR vs -2.3%).
Honeywell International Inc. is an American publicly traded, multinational conglomerate corporation headquartered in Charlotte, North Carolina. It primarily operates in four areas of business: aerospace, building automation, industrial automation, and energy and sustainability solutions (ESS). Honeywell also owns and operates Sandia National Laboratories under contract with the U.S. Department of Energy. Honeywell is a Fortune 500 company, ranked 115th in 2023.
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.
HON vs LPLA — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $9.1B | $4.9B |
| Net Profit | $795.0M | $300.7M |
| Gross Margin | — | — |
| Operating Margin | 16.1% | 8.1% |
| Net Margin | 8.7% | 6.1% |
| Revenue YoY | 2.0% | 40.4% |
| Net Profit YoY | -45.8% | 11.1% |
| EPS (diluted) | $1.29 | $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 | $9.1B | — | ||
| Q4 25 | $6.9B | $4.9B | ||
| Q3 25 | $10.4B | $4.6B | ||
| Q2 25 | $10.4B | $3.8B | ||
| Q1 25 | $9.8B | $3.7B | ||
| Q4 24 | $10.1B | $3.5B | ||
| Q3 24 | $9.7B | $3.1B | ||
| Q2 24 | $9.6B | $2.9B |
| Q1 26 | $795.0M | — | ||
| Q4 25 | $-115.0M | $300.7M | ||
| Q3 25 | $1.8B | $-29.5M | ||
| Q2 25 | $1.6B | $273.2M | ||
| Q1 25 | $1.4B | $318.6M | ||
| Q4 24 | $1.3B | $270.7M | ||
| Q3 24 | $1.4B | $255.3M | ||
| Q2 24 | $1.5B | $243.8M |
| Q1 26 | — | — | ||
| Q4 25 | 36.1% | — | ||
| Q3 25 | 31.1% | — | ||
| Q2 25 | 35.4% | — | ||
| Q1 25 | 35.2% | — | ||
| Q4 24 | 36.4% | — | ||
| Q3 24 | 35.1% | — | ||
| Q2 24 | 35.0% | — |
| Q1 26 | 16.1% | — | ||
| Q4 25 | 16.0% | 8.1% | ||
| Q3 25 | 23.1% | -0.7% | ||
| Q2 25 | 22.9% | 9.6% | ||
| Q1 25 | 23.0% | 11.4% | ||
| Q4 24 | 21.6% | 9.7% | ||
| Q3 24 | 23.6% | 11.2% | ||
| Q2 24 | 23.0% | 11.3% |
| Q1 26 | 8.7% | — | ||
| Q4 25 | -1.7% | 6.1% | ||
| Q3 25 | 17.5% | -0.6% | ||
| Q2 25 | 15.2% | 7.1% | ||
| Q1 25 | 14.8% | 8.7% | ||
| Q4 24 | 12.7% | 7.7% | ||
| Q3 24 | 14.5% | 8.2% | ||
| Q2 24 | 16.1% | 8.3% |
| Q1 26 | $1.29 | — | ||
| Q4 25 | $-0.17 | $3.65 | ||
| Q3 25 | $2.86 | $-0.37 | ||
| Q2 25 | $2.45 | $3.40 | ||
| Q1 25 | $2.22 | $4.24 | ||
| Q4 24 | $1.96 | $3.58 | ||
| Q3 24 | $2.16 | $3.39 | ||
| Q2 24 | $2.36 | $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 | $12.4B | $1.1B |
| Total DebtLower is stronger | $32.1B | $7.3B |
| Stockholders' EquityBook value | — | $5.3B |
| Total Assets | $74.0B | $18.5B |
| Debt / EquityLower = less leverage | — | 1.36× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $12.4B | — | ||
| Q4 25 | $12.9B | $1.1B | ||
| Q3 25 | $13.4B | $1.6B | ||
| Q2 25 | $10.7B | $4.3B | ||
| Q1 25 | $10.1B | $1.4B | ||
| Q4 24 | $11.0B | $1.0B | ||
| Q3 24 | $10.9B | $1.6B | ||
| Q2 24 | $9.8B | $1.4B |
| Q1 26 | $32.1B | — | ||
| Q4 25 | $27.1B | $7.3B | ||
| Q3 25 | $30.1B | $7.5B | ||
| Q2 25 | $30.2B | $7.2B | ||
| Q1 25 | $25.7B | $5.7B | ||
| Q4 24 | $25.5B | $5.5B | ||
| Q3 24 | $25.9B | $4.4B | ||
| Q2 24 | $20.9B | $4.4B |
| Q1 26 | — | — | ||
| Q4 25 | $13.9B | $5.3B | ||
| Q3 25 | $16.8B | $5.0B | ||
| Q2 25 | $16.1B | $5.1B | ||
| Q1 25 | $17.5B | $3.1B | ||
| Q4 24 | $18.6B | $2.9B | ||
| Q3 24 | $17.4B | $2.8B | ||
| Q2 24 | $16.9B | $2.5B |
| Q1 26 | $74.0B | — | ||
| Q4 25 | $73.7B | $18.5B | ||
| Q3 25 | $80.9B | $18.0B | ||
| Q2 25 | $78.4B | $17.5B | ||
| Q1 25 | $75.2B | $14.0B | ||
| Q4 24 | $75.2B | $13.3B | ||
| Q3 24 | $73.5B | $11.9B | ||
| Q2 24 | $69.3B | $11.5B |
| Q1 26 | — | — | ||
| Q4 25 | 1.95× | 1.36× | ||
| Q3 25 | 1.79× | 1.49× | ||
| Q2 25 | 1.87× | 1.41× | ||
| Q1 25 | 1.47× | 1.82× | ||
| Q4 24 | 1.37× | 1.87× | ||
| Q3 24 | 1.49× | 1.60× | ||
| Q2 24 | 1.23× | 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 | $0 | $785.0M |
| Free Cash FlowOCF − Capex | $56.0M | $613.3M |
| FCF MarginFCF / Revenue | 0.6% | 12.4% |
| Capex IntensityCapex / Revenue | 2.4% | 3.5% |
| Cash ConversionOCF / Net Profit | 0.00× | 2.61× |
| TTM Free Cash FlowTrailing 4 quarters | $5.1B | $-981.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $0 | — | ||
| Q4 25 | $1.2B | $785.0M | ||
| Q3 25 | $3.3B | $-1.7B | ||
| Q2 25 | $1.3B | $193.3M | ||
| Q1 25 | $597.0M | $339.8M | ||
| Q4 24 | $2.3B | $-178.8M | ||
| Q3 24 | $2.0B | $209.3M | ||
| Q2 24 | $1.4B | $-178.9M |
| Q1 26 | $56.0M | — | ||
| Q4 25 | $1.1B | $613.3M | ||
| Q3 25 | $2.9B | $-1.9B | ||
| Q2 25 | $1.0B | $56.3M | ||
| Q1 25 | $346.0M | $220.3M | ||
| Q4 24 | $1.9B | $-344.3M | ||
| Q3 24 | $1.7B | $62.3M | ||
| Q2 24 | $1.1B | $-307.8M |
| Q1 26 | 0.6% | — | ||
| Q4 25 | 16.7% | 12.4% | ||
| Q3 25 | 28.0% | -41.1% | ||
| Q2 25 | 9.8% | 1.5% | ||
| Q1 25 | 3.5% | 6.0% | ||
| Q4 24 | 18.7% | -9.8% | ||
| Q3 24 | 17.7% | 2.0% | ||
| Q2 24 | 11.6% | -10.5% |
| Q1 26 | 2.4% | — | ||
| Q4 25 | 0.8% | 3.5% | ||
| Q3 25 | 3.6% | 3.1% | ||
| Q2 25 | 2.9% | 3.6% | ||
| Q1 25 | 2.6% | 3.3% | ||
| Q4 24 | 3.9% | 4.7% | ||
| Q3 24 | 2.9% | 4.7% | ||
| Q2 24 | 2.7% | 4.4% |
| Q1 26 | 0.00× | — | ||
| Q4 25 | — | 2.61× | ||
| Q3 25 | 1.80× | — | ||
| Q2 25 | 0.84× | 0.71× | ||
| Q1 25 | 0.41× | 1.07× | ||
| Q4 24 | 1.78× | -0.66× | ||
| Q3 24 | 1.41× | 0.82× | ||
| Q2 24 | 0.89× | -0.73× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HON
| Aerospace Technologies | $4.3B | 47% |
| Building Automation | $1.9B | 21% |
| Process Automation and Technology | $1.5B | 17% |
| Industrial Automation | $1.4B | 16% |
| Corporate and All Other | $5.0M | 0% |
LPLA
Segment breakdown not available.
