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Side-by-side financial comparison of LPL Financial Holdings Inc. (LPLA) and McDonald's (MCD). Click either name above to swap in a different company.
McDonald's is the larger business by last-quarter revenue ($7.0B vs $4.9B, roughly 1.4× LPL Financial Holdings Inc.). McDonald's runs the higher net margin — 30.9% vs 7.2%, a 23.7% gap on every dollar of revenue. On growth, LPL Financial Holdings Inc. posted the faster year-over-year revenue change (34.6% vs 9.7%). Over the past eight quarters, LPL Financial Holdings Inc.'s revenue compounded faster (29.8% CAGR vs 6.6%).
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.
McDonald's Corporation, doing business as McDonald's, is an American multinational fast food restaurant chain. As of 2024, it is the second-largest by number of locations in the world, behind the Chinese chain Mixue Ice Cream & Tea.
LPLA vs MCD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.9B | $7.0B |
| Net Profit | $356.4M | $2.2B |
| Gross Margin | 32.3% | — |
| Operating Margin | — | 45.0% |
| Net Margin | 7.2% | 30.9% |
| Revenue YoY | 34.6% | 9.7% |
| Net Profit YoY | — | 7.3% |
| EPS (diluted) | $4.43 | $3.03 |
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 | — | ||
| Q4 25 | $4.9B | $7.0B | ||
| Q3 25 | $4.6B | $7.1B | ||
| Q2 25 | $3.8B | $6.8B | ||
| Q1 25 | $3.7B | $6.0B | ||
| Q4 24 | $3.5B | $6.4B | ||
| Q3 24 | $3.1B | $6.9B | ||
| Q2 24 | $2.9B | $6.5B |
| Q1 26 | $356.4M | — | ||
| Q4 25 | $300.7M | $2.2B | ||
| Q3 25 | $-29.5M | $2.3B | ||
| Q2 25 | $273.2M | $2.3B | ||
| Q1 25 | $318.6M | $1.9B | ||
| Q4 24 | $270.7M | $2.0B | ||
| Q3 24 | $255.3M | $2.3B | ||
| Q2 24 | $243.8M | $2.0B |
| Q1 26 | 32.3% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 90.6% | ||
| Q2 25 | — | 90.4% | ||
| Q1 25 | — | 89.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 90.6% | ||
| Q2 24 | — | 90.3% |
| Q1 26 | — | — | ||
| Q4 25 | 8.1% | 45.0% | ||
| Q3 25 | -0.7% | 47.4% | ||
| Q2 25 | 9.6% | 47.2% | ||
| Q1 25 | 11.4% | 44.5% | ||
| Q4 24 | 9.7% | 44.9% | ||
| Q3 24 | 11.2% | 46.4% | ||
| Q2 24 | 11.3% | 45.0% |
| Q1 26 | 7.2% | — | ||
| Q4 25 | 6.1% | 30.9% | ||
| Q3 25 | -0.6% | 32.2% | ||
| Q2 25 | 7.1% | 32.9% | ||
| Q1 25 | 8.7% | 31.4% | ||
| Q4 24 | 7.7% | 31.6% | ||
| Q3 24 | 8.2% | 32.8% | ||
| Q2 24 | 8.3% | 31.2% |
| Q1 26 | $4.43 | — | ||
| Q4 25 | $3.65 | $3.03 | ||
| Q3 25 | $-0.37 | $3.18 | ||
| Q2 25 | $3.40 | $3.14 | ||
| Q1 25 | $4.24 | $2.60 | ||
| Q4 24 | $3.58 | $2.80 | ||
| Q3 24 | $3.39 | $3.13 | ||
| Q2 24 | $3.23 | $2.80 |
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 | $774.0M |
| Total DebtLower is stronger | — | $40.0B |
| Stockholders' EquityBook value | $5.7B | $-1.8B |
| Total Assets | $18.8B | $59.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.1B | $774.0M | ||
| Q3 25 | $1.6B | $2.4B | ||
| Q2 25 | $4.3B | $1.9B | ||
| Q1 25 | $1.4B | $1.2B | ||
| Q4 24 | $1.0B | $1.1B | ||
| Q3 24 | $1.6B | $1.2B | ||
| Q2 24 | $1.4B | $792.0M |
| Q1 26 | — | — | ||
| Q4 25 | $7.3B | $40.0B | ||
| Q3 25 | $7.5B | — | ||
| Q2 25 | $7.2B | — | ||
| Q1 25 | $5.7B | — | ||
| Q4 24 | $5.5B | $38.4B | ||
| Q3 24 | $4.4B | — | ||
| Q2 24 | $4.4B | — |
| Q1 26 | $5.7B | — | ||
| Q4 25 | $5.3B | $-1.8B | ||
| Q3 25 | $5.0B | $-2.2B | ||
| Q2 25 | $5.1B | $-2.8B | ||
| Q1 25 | $3.1B | $-3.5B | ||
| Q4 24 | $2.9B | $-3.8B | ||
| Q3 24 | $2.8B | $-5.2B | ||
| Q2 24 | $2.5B | $-4.8B |
| Q1 26 | $18.8B | — | ||
| Q4 25 | $18.5B | $59.5B | ||
| Q3 25 | $18.0B | $60.6B | ||
| Q2 25 | $17.5B | $59.6B | ||
| Q1 25 | $14.0B | $56.3B | ||
| Q4 24 | $13.3B | $55.2B | ||
| Q3 24 | $11.9B | $56.2B | ||
| Q2 24 | $11.5B | $53.8B |
| Q1 26 | — | — | ||
| 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× | — |
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 | — | $2.7B |
| Free Cash FlowOCF − Capex | — | $1.6B |
| FCF MarginFCF / Revenue | — | 23.4% |
| Capex IntensityCapex / Revenue | 0.0% | 15.1% |
| Cash ConversionOCF / Net Profit | — | 1.25× |
| TTM Free Cash FlowTrailing 4 quarters | — | $7.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $785.0M | $2.7B | ||
| Q3 25 | $-1.7B | $3.4B | ||
| Q2 25 | $193.3M | $2.0B | ||
| Q1 25 | $339.8M | $2.4B | ||
| Q4 24 | $-178.8M | $2.6B | ||
| Q3 24 | $209.3M | $2.7B | ||
| Q2 24 | $-178.9M | $1.7B |
| Q1 26 | — | — | ||
| Q4 25 | $613.3M | $1.6B | ||
| Q3 25 | $-1.9B | $2.4B | ||
| Q2 25 | $56.3M | $1.3B | ||
| Q1 25 | $220.3M | $1.9B | ||
| Q4 24 | $-344.3M | $1.8B | ||
| Q3 24 | $62.3M | $1.9B | ||
| Q2 24 | $-307.8M | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 12.4% | 23.4% | ||
| Q3 25 | -41.1% | 34.1% | ||
| Q2 25 | 1.5% | 18.3% | ||
| Q1 25 | 6.0% | 31.5% | ||
| Q4 24 | -9.8% | 28.6% | ||
| Q3 24 | 2.0% | 28.3% | ||
| Q2 24 | -10.5% | 16.3% |
| Q1 26 | 0.0% | — | ||
| Q4 25 | 3.5% | 15.1% | ||
| Q3 25 | 3.1% | 14.3% | ||
| Q2 25 | 3.6% | 10.9% | ||
| Q1 25 | 3.3% | 9.3% | ||
| Q4 24 | 4.7% | 12.6% | ||
| Q3 24 | 4.7% | 11.6% | ||
| Q2 24 | 4.4% | 9.7% |
| Q1 26 | — | — | ||
| Q4 25 | 2.61× | 1.25× | ||
| Q3 25 | — | 1.50× | ||
| Q2 25 | 0.71× | 0.89× | ||
| Q1 25 | 1.07× | 1.30× | ||
| Q4 24 | -0.66× | 1.30× | ||
| Q3 24 | 0.82× | 1.21× | ||
| Q2 24 | -0.73× | 0.84× |
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% |
MCD
| International Operated Markets | $3.6B | 51% |
| Other | $2.8B | 40% |
| International Developmental Licensed Marketsand Corporate | $633.0M | 9% |
