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Side-by-side financial comparison of LPL Financial Holdings Inc. (LPLA) and Lam Research (LRCX). Click either name above to swap in a different company.
Lam Research is the larger business by last-quarter revenue ($5.8B vs $4.9B, roughly 1.2× LPL Financial Holdings Inc.). Lam Research runs the higher net margin — 31.2% vs 7.2%, a 24.0% gap on every dollar of revenue. On growth, LPL Financial Holdings Inc. posted the faster year-over-year revenue change (34.6% vs 23.8%). Over the past eight quarters, LPL Financial Holdings Inc.'s revenue compounded faster (29.8% CAGR vs 22.8%).
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.
Lam Research Corporation is an American supplier of wafer-fabrication equipment and related services to the semiconductor industry. Its products are used primarily in front-end wafer processing, which involves the steps that create the active components of semiconductor devices and their wiring (interconnects). The company also builds equipment for back-end wafer-level packaging (WLP) and for related manufacturing markets such as for microelectromechanical systems (MEMS).
LPLA vs LRCX — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $4.9B | $5.8B |
| Net Profit | $356.4M | $1.8B |
| Gross Margin | 32.3% | 49.8% |
| Operating Margin | — | 35.0% |
| Net Margin | 7.2% | 31.2% |
| Revenue YoY | 34.6% | 23.8% |
| Net Profit YoY | — | 37.2% |
| EPS (diluted) | $4.43 | $1.45 |
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 | $4.9B | $5.8B | ||
| Q4 25 | $4.9B | $5.3B | ||
| Q3 25 | $4.6B | $5.3B | ||
| Q2 25 | $3.8B | $5.2B | ||
| Q1 25 | $3.7B | $4.7B | ||
| Q4 24 | $3.5B | $4.4B | ||
| Q3 24 | $3.1B | $4.2B | ||
| Q2 24 | $2.9B | $3.9B |
| Q1 26 | $356.4M | $1.8B | ||
| Q4 25 | $300.7M | $1.6B | ||
| Q3 25 | $-29.5M | $1.6B | ||
| Q2 25 | $273.2M | $1.7B | ||
| Q1 25 | $318.6M | $1.3B | ||
| Q4 24 | $270.7M | $1.2B | ||
| Q3 24 | $255.3M | $1.1B | ||
| Q2 24 | $243.8M | $1.0B |
| Q1 26 | 32.3% | 49.8% | ||
| Q4 25 | — | 49.6% | ||
| Q3 25 | — | 50.4% | ||
| Q2 25 | — | 50.1% | ||
| Q1 25 | — | 49.0% | ||
| Q4 24 | — | 47.4% | ||
| Q3 24 | — | 48.0% | ||
| Q2 24 | — | 47.5% |
| Q1 26 | — | 35.0% | ||
| Q4 25 | 8.1% | 33.9% | ||
| Q3 25 | -0.7% | 34.4% | ||
| Q2 25 | 9.6% | 33.7% | ||
| Q1 25 | 11.4% | 33.1% | ||
| Q4 24 | 9.7% | 30.5% | ||
| Q3 24 | 11.2% | 30.3% | ||
| Q2 24 | 11.3% | 29.1% |
| Q1 26 | 7.2% | 31.2% | ||
| Q4 25 | 6.1% | 29.8% | ||
| Q3 25 | -0.6% | 29.5% | ||
| Q2 25 | 7.1% | 33.3% | ||
| Q1 25 | 8.7% | 28.2% | ||
| Q4 24 | 7.7% | 27.2% | ||
| Q3 24 | 8.2% | 26.8% | ||
| Q2 24 | 8.3% | 26.4% |
| Q1 26 | $4.43 | $1.45 | ||
| Q4 25 | $3.65 | $1.26 | ||
| Q3 25 | $-0.37 | $1.24 | ||
| Q2 25 | $3.40 | $1.34 | ||
| Q1 25 | $4.24 | $1.03 | ||
| Q4 24 | $3.58 | $0.92 | ||
| Q3 24 | $3.39 | $0.86 | ||
| Q2 24 | $3.23 | $7.78 |
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 | $4.8B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.7B | — |
| Total Assets | $18.8B | $20.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.0B | $4.8B | ||
| Q4 25 | $1.1B | $6.2B | ||
| Q3 25 | $1.6B | $6.7B | ||
| Q2 25 | $4.3B | $6.4B | ||
| Q1 25 | $1.4B | $5.5B | ||
| Q4 24 | $1.0B | $5.7B | ||
| Q3 24 | $1.6B | $6.1B | ||
| Q2 24 | $1.4B | $5.8B |
| Q1 26 | — | — | ||
| Q4 25 | $7.3B | $3.7B | ||
| Q3 25 | $7.5B | $3.7B | ||
| Q2 25 | $7.2B | $3.7B | ||
| Q1 25 | $5.7B | $3.7B | ||
| Q4 24 | $5.5B | $4.5B | ||
| Q3 24 | $4.4B | $4.5B | ||
| Q2 24 | $4.4B | $4.5B |
| Q1 26 | $5.7B | — | ||
| Q4 25 | $5.3B | $10.1B | ||
| Q3 25 | $5.0B | $10.2B | ||
| Q2 25 | $5.1B | $9.9B | ||
| Q1 25 | $3.1B | $9.5B | ||
| Q4 24 | $2.9B | $8.8B | ||
| Q3 24 | $2.8B | $8.5B | ||
| Q2 24 | $2.5B | $8.5B |
| Q1 26 | $18.8B | $20.8B | ||
| Q4 25 | $18.5B | $21.4B | ||
| Q3 25 | $18.0B | $21.9B | ||
| Q2 25 | $17.5B | $21.3B | ||
| Q1 25 | $14.0B | $20.0B | ||
| Q4 24 | $13.3B | $19.8B | ||
| Q3 24 | $11.9B | $19.5B | ||
| Q2 24 | $11.5B | $18.7B |
| Q1 26 | — | — | ||
| Q4 25 | 1.36× | 0.37× | ||
| Q3 25 | 1.49× | 0.37× | ||
| Q2 25 | 1.41× | 0.38× | ||
| Q1 25 | 1.82× | 0.39× | ||
| Q4 24 | 1.87× | 0.51× | ||
| Q3 24 | 1.60× | 0.53× | ||
| Q2 24 | 1.77× | 0.52× |
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 | — | $1.1B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 0.0% | 5.7% |
| Cash ConversionOCF / Net Profit | — | 0.63× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.1B | ||
| Q4 25 | $785.0M | $1.5B | ||
| Q3 25 | $-1.7B | $1.8B | ||
| Q2 25 | $193.3M | $2.6B | ||
| Q1 25 | $339.8M | $1.3B | ||
| Q4 24 | $-178.8M | $741.9M | ||
| Q3 24 | $209.3M | $1.6B | ||
| Q2 24 | $-178.9M | $862.4M |
| Q1 26 | — | — | ||
| Q4 25 | $613.3M | $1.2B | ||
| Q3 25 | $-1.9B | $1.6B | ||
| Q2 25 | $56.3M | $2.4B | ||
| Q1 25 | $220.3M | $1.0B | ||
| Q4 24 | $-344.3M | $553.6M | ||
| Q3 24 | $62.3M | $1.5B | ||
| Q2 24 | $-307.8M | $761.7M |
| Q1 26 | — | — | ||
| Q4 25 | 12.4% | 22.8% | ||
| Q3 25 | -41.1% | 29.9% | ||
| Q2 25 | 1.5% | 46.1% | ||
| Q1 25 | 6.0% | 21.6% | ||
| Q4 24 | -9.8% | 12.7% | ||
| Q3 24 | 2.0% | 35.0% | ||
| Q2 24 | -10.5% | 19.7% |
| Q1 26 | 0.0% | 5.7% | ||
| Q4 25 | 3.5% | 4.9% | ||
| Q3 25 | 3.1% | 3.5% | ||
| Q2 25 | 3.6% | 3.3% | ||
| Q1 25 | 3.3% | 6.1% | ||
| Q4 24 | 4.7% | 4.3% | ||
| Q3 24 | 4.7% | 2.7% | ||
| Q2 24 | 4.4% | 2.6% |
| Q1 26 | — | 0.63× | ||
| Q4 25 | 2.61× | 0.93× | ||
| Q3 25 | — | 1.13× | ||
| Q2 25 | 0.71× | 1.48× | ||
| Q1 25 | 1.07× | 0.98× | ||
| Q4 24 | -0.66× | 0.62× | ||
| Q3 24 | 0.82× | 1.40× | ||
| Q2 24 | -0.73× | 0.85× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
LRCX
Segment breakdown not available.
