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Side-by-side financial comparison of LPL Financial Holdings Inc. (LPLA) and PulteGroup (PHM). 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 $3.4B, roughly 1.4× PulteGroup). PulteGroup runs the higher net margin — 10.2% vs 6.1%, a 4.1% gap on every dollar of revenue. On growth, LPL Financial Holdings Inc. posted the faster year-over-year revenue change (40.4% vs -12.4%). Over the past eight quarters, LPL Financial Holdings Inc.'s revenue compounded faster (32.0% CAGR vs -13.9%).
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.
PulteGroup, Inc. is an American residential home-construction company based in Atlanta, Georgia, United States. As of 2023, the company is the third-largest home-construction company in the United States based on the number of homes closed. In total, the company has built over 775,000 homes.
LPLA vs PHM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $4.9B | $3.4B |
| Net Profit | $300.7M | $347.0M |
| Gross Margin | — | — |
| Operating Margin | 8.1% | — |
| Net Margin | 6.1% | 10.2% |
| Revenue YoY | 40.4% | -12.4% |
| Net Profit YoY | 11.1% | -33.6% |
| EPS (diluted) | $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 | — | $3.4B | ||
| Q4 25 | $4.9B | $4.6B | ||
| Q3 25 | $4.6B | $4.4B | ||
| Q2 25 | $3.8B | $4.4B | ||
| Q1 25 | $3.7B | $3.9B | ||
| Q4 24 | $3.5B | $4.9B | ||
| Q3 24 | $3.1B | $4.5B | ||
| Q2 24 | $2.9B | $4.6B |
| Q1 26 | — | $347.0M | ||
| Q4 25 | $300.7M | $501.6M | ||
| Q3 25 | $-29.5M | $585.8M | ||
| Q2 25 | $273.2M | $608.5M | ||
| Q1 25 | $318.6M | $522.8M | ||
| Q4 24 | $270.7M | $913.2M | ||
| Q3 24 | $255.3M | $697.9M | ||
| Q2 24 | $243.8M | $809.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 27.8% | ||
| Q2 25 | — | 28.6% | ||
| Q1 25 | — | 28.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 30.4% | ||
| Q2 24 | — | 31.4% |
| Q1 26 | — | — | ||
| Q4 25 | 8.1% | — | ||
| Q3 25 | -0.7% | — | ||
| Q2 25 | 9.6% | — | ||
| Q1 25 | 11.4% | — | ||
| Q4 24 | 9.7% | — | ||
| Q3 24 | 11.2% | — | ||
| Q2 24 | 11.3% | — |
| Q1 26 | — | 10.2% | ||
| Q4 25 | 6.1% | 10.9% | ||
| Q3 25 | -0.6% | 13.3% | ||
| Q2 25 | 7.1% | 13.8% | ||
| Q1 25 | 8.7% | 13.4% | ||
| Q4 24 | 7.7% | 18.6% | ||
| Q3 24 | 8.2% | 15.6% | ||
| Q2 24 | 8.3% | 17.6% |
| Q1 26 | — | — | ||
| Q4 25 | $3.65 | $2.56 | ||
| Q3 25 | $-0.37 | $2.96 | ||
| Q2 25 | $3.40 | $3.03 | ||
| Q1 25 | $4.24 | $2.57 | ||
| Q4 24 | $3.58 | $4.41 | ||
| Q3 24 | $3.39 | $3.35 | ||
| Q2 24 | $3.23 | $3.83 |
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 | $1.8B |
| Total DebtLower is stronger | $7.3B | — |
| Stockholders' EquityBook value | $5.3B | $13.0B |
| Total Assets | $18.5B | $5.2B |
| Debt / EquityLower = less leverage | 1.36× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.8B | ||
| Q4 25 | $1.1B | $2.0B | ||
| Q3 25 | $1.6B | $1.5B | ||
| Q2 25 | $4.3B | $1.2B | ||
| Q1 25 | $1.4B | $1.2B | ||
| Q4 24 | $1.0B | $1.6B | ||
| Q3 24 | $1.6B | $1.4B | ||
| Q2 24 | $1.4B | $1.4B |
| Q1 26 | — | — | ||
| Q4 25 | $7.3B | $43.9M | ||
| Q3 25 | $7.5B | — | ||
| Q2 25 | $7.2B | — | ||
| Q1 25 | $5.7B | — | ||
| Q4 24 | $5.5B | $31.1M | ||
| Q3 24 | $4.4B | — | ||
| Q2 24 | $4.4B | — |
| Q1 26 | — | $13.0B | ||
| Q4 25 | $5.3B | $13.0B | ||
| Q3 25 | $5.0B | $12.8B | ||
| Q2 25 | $5.1B | $12.6B | ||
| Q1 25 | $3.1B | $12.3B | ||
| Q4 24 | $2.9B | $12.1B | ||
| Q3 24 | $2.8B | $11.6B | ||
| Q2 24 | $2.5B | $11.2B |
| Q1 26 | — | $5.2B | ||
| Q4 25 | $18.5B | $18.0B | ||
| Q3 25 | $18.0B | $17.9B | ||
| Q2 25 | $17.5B | $17.6B | ||
| Q1 25 | $14.0B | $17.3B | ||
| Q4 24 | $13.3B | $17.4B | ||
| Q3 24 | $11.9B | $17.0B | ||
| Q2 24 | $11.5B | $16.5B |
| Q1 26 | — | — | ||
| Q4 25 | 1.36× | 0.00× | ||
| Q3 25 | 1.49× | — | ||
| Q2 25 | 1.41× | — | ||
| Q1 25 | 1.82× | — | ||
| Q4 24 | 1.87× | 0.00× | ||
| 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 | $785.0M | $159.8M |
| Free Cash FlowOCF − Capex | $613.3M | — |
| FCF MarginFCF / Revenue | 12.4% | — |
| Capex IntensityCapex / Revenue | 3.5% | 0.7% |
| Cash ConversionOCF / Net Profit | 2.61× | 0.46× |
| TTM Free Cash FlowTrailing 4 quarters | $-981.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $159.8M | ||
| Q4 25 | $785.0M | $771.1M | ||
| Q3 25 | $-1.7B | $678.4M | ||
| Q2 25 | $193.3M | $287.5M | ||
| Q1 25 | $339.8M | $134.2M | ||
| Q4 24 | $-178.8M | $567.6M | ||
| Q3 24 | $209.3M | $455.9M | ||
| Q2 24 | $-178.9M | $417.5M |
| Q1 26 | — | — | ||
| Q4 25 | $613.3M | $739.8M | ||
| Q3 25 | $-1.9B | $651.1M | ||
| Q2 25 | $56.3M | $253.0M | ||
| Q1 25 | $220.3M | $104.6M | ||
| Q4 24 | $-344.3M | $543.1M | ||
| Q3 24 | $62.3M | $417.2M | ||
| Q2 24 | $-307.8M | $386.2M |
| Q1 26 | — | — | ||
| Q4 25 | 12.4% | 16.0% | ||
| Q3 25 | -41.1% | 14.8% | ||
| Q2 25 | 1.5% | 5.7% | ||
| Q1 25 | 6.0% | 2.7% | ||
| Q4 24 | -9.8% | 11.0% | ||
| Q3 24 | 2.0% | 9.3% | ||
| Q2 24 | -10.5% | 8.4% |
| Q1 26 | — | 0.7% | ||
| Q4 25 | 3.5% | 0.7% | ||
| Q3 25 | 3.1% | 0.6% | ||
| Q2 25 | 3.6% | 0.8% | ||
| Q1 25 | 3.3% | 0.8% | ||
| Q4 24 | 4.7% | 0.5% | ||
| Q3 24 | 4.7% | 0.9% | ||
| Q2 24 | 4.4% | 0.7% |
| Q1 26 | — | 0.46× | ||
| Q4 25 | 2.61× | 1.54× | ||
| Q3 25 | — | 1.16× | ||
| Q2 25 | 0.71× | 0.47× | ||
| Q1 25 | 1.07× | 0.26× | ||
| Q4 24 | -0.66× | 0.62× | ||
| Q3 24 | 0.82× | 0.65× | ||
| Q2 24 | -0.73× | 0.52× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LPLA
Segment breakdown not available.
PHM
| Home sale revenues | $3.3B | 97% |
| Financial Services | $71.7M | 2% |
| Land sale and other revenues | $29.3M | 1% |
