vs
Side-by-side financial comparison of LPL Financial Holdings Inc. (LPLA) and QVC Group, Inc. (QVCGA). 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 $2.7B, roughly 1.8× QVC Group, Inc.). LPL Financial Holdings Inc. runs the higher net margin — 7.2% vs -1.4%, a 8.6% gap on every dollar of revenue. On growth, LPL Financial Holdings Inc. posted the faster year-over-year revenue change (34.6% vs -9.1%). Over the past eight quarters, LPL Financial Holdings Inc.'s revenue compounded faster (29.8% CAGR vs 6.9%).
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.
QVC Group, is an American media conglomerate controlled by company chairman John C. Malone, who owns a majority of the voting shares.
LPLA vs QVCGA — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.9B | $2.7B |
| Net Profit | $356.4M | $-37.0M |
| Gross Margin | 32.3% | 32.9% |
| Operating Margin | — | 3.7% |
| Net Margin | 7.2% | -1.4% |
| Revenue YoY | 34.6% | -9.1% |
| Net Profit YoY | — | 97.1% |
| EPS (diluted) | $4.43 | $-17.37 |
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 | $2.7B | ||
| Q3 25 | $4.6B | $2.2B | ||
| Q2 25 | $3.8B | $2.2B | ||
| Q1 25 | $3.7B | $2.1B | ||
| Q4 24 | $3.5B | $2.9B | ||
| Q3 24 | $3.1B | $2.3B | ||
| Q2 24 | $2.9B | $2.4B |
| Q1 26 | $356.4M | — | ||
| Q4 25 | $300.7M | $-37.0M | ||
| Q3 25 | $-29.5M | $-80.0M | ||
| Q2 25 | $273.2M | $-2.2B | ||
| Q1 25 | $318.6M | $-100.0M | ||
| Q4 24 | $270.7M | $-1.3B | ||
| Q3 24 | $255.3M | $-23.0M | ||
| Q2 24 | $243.8M | $20.0M |
| Q1 26 | 32.3% | — | ||
| Q4 25 | — | 32.9% | ||
| Q3 25 | — | 34.0% | ||
| Q2 25 | — | 36.4% | ||
| Q1 25 | — | 34.2% | ||
| Q4 24 | — | 33.3% | ||
| Q3 24 | — | 35.3% | ||
| Q2 24 | — | 36.4% |
| Q1 26 | — | — | ||
| Q4 25 | 8.1% | 3.7% | ||
| Q3 25 | -0.7% | 2.7% | ||
| Q2 25 | 9.6% | -101.6% | ||
| Q1 25 | 11.4% | 0.7% | ||
| Q4 24 | 9.7% | -43.2% | ||
| Q3 24 | 11.2% | 6.5% | ||
| Q2 24 | 11.3% | 6.9% |
| Q1 26 | 7.2% | — | ||
| Q4 25 | 6.1% | -1.4% | ||
| Q3 25 | -0.6% | -3.6% | ||
| Q2 25 | 7.1% | -99.4% | ||
| Q1 25 | 8.7% | -4.8% | ||
| Q4 24 | 7.7% | -43.7% | ||
| Q3 24 | 8.2% | -1.0% | ||
| Q2 24 | 8.3% | 0.8% |
| Q1 26 | $4.43 | — | ||
| Q4 25 | $3.65 | $-17.37 | ||
| Q3 25 | $-0.37 | $-9.89 | ||
| Q2 25 | $3.40 | $-275.46 | ||
| Q1 25 | $4.24 | $-0.25 | ||
| Q4 24 | $3.58 | — | ||
| Q3 24 | $3.39 | $-0.06 | ||
| Q2 24 | $3.23 | $2.57 |
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 | $2.0B |
| Total DebtLower is stronger | — | $790.0M |
| Stockholders' EquityBook value | $5.7B | $-3.1B |
| Total Assets | $18.8B | $7.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.1B | $2.0B | ||
| Q3 25 | $1.6B | $1.8B | ||
| Q2 25 | $4.3B | $897.0M | ||
| Q1 25 | $1.4B | $833.0M | ||
| Q4 24 | $1.0B | $905.0M | ||
| Q3 24 | $1.6B | $873.0M | ||
| Q2 24 | $1.4B | $1.2B |
| Q1 26 | — | — | ||
| Q4 25 | $7.3B | $790.0M | ||
| Q3 25 | $7.5B | $5.9B | ||
| Q2 25 | $7.2B | $4.9B | ||
| Q1 25 | $5.7B | $5.0B | ||
| Q4 24 | $5.5B | $4.1B | ||
| Q3 24 | $4.4B | $5.1B | ||
| Q2 24 | $4.4B | $5.3B |
| Q1 26 | $5.7B | — | ||
| Q4 25 | $5.3B | $-3.1B | ||
| Q3 25 | $5.0B | $-3.1B | ||
| Q2 25 | $5.1B | $-3.0B | ||
| Q1 25 | $3.1B | $-981.0M | ||
| Q4 24 | $2.9B | $-971.0M | ||
| Q3 24 | $2.8B | $397.0M | ||
| Q2 24 | $2.5B | $328.0M |
| Q1 26 | $18.8B | — | ||
| Q4 25 | $18.5B | $7.6B | ||
| Q3 25 | $18.0B | $7.6B | ||
| Q2 25 | $17.5B | $6.7B | ||
| Q1 25 | $14.0B | $9.0B | ||
| Q4 24 | $13.3B | $9.2B | ||
| Q3 24 | $11.9B | $10.8B | ||
| Q2 24 | $11.5B | $10.9B |
| 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× | 12.74× | ||
| Q2 24 | 1.77× | 16.28× |
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 | — | $244.0M |
| Free Cash FlowOCF − Capex | — | $191.0M |
| FCF MarginFCF / Revenue | — | 7.1% |
| Capex IntensityCapex / Revenue | 0.0% | 2.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $118.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $785.0M | $244.0M | ||
| Q3 25 | $-1.7B | $4.0M | ||
| Q2 25 | $193.3M | $86.0M | ||
| Q1 25 | $339.8M | $-60.0M | ||
| Q4 24 | $-178.8M | $212.0M | ||
| Q3 24 | $209.3M | $20.0M | ||
| Q2 24 | $-178.9M | $267.0M |
| Q1 26 | — | — | ||
| Q4 25 | $613.3M | $191.0M | ||
| Q3 25 | $-1.9B | $-27.0M | ||
| Q2 25 | $56.3M | $48.0M | ||
| Q1 25 | $220.3M | $-94.0M | ||
| Q4 24 | $-344.3M | $150.0M | ||
| Q3 24 | $62.3M | $-23.0M | ||
| Q2 24 | $-307.8M | $213.0M |
| Q1 26 | — | — | ||
| Q4 25 | 12.4% | 7.1% | ||
| Q3 25 | -41.1% | -1.2% | ||
| Q2 25 | 1.5% | 2.1% | ||
| Q1 25 | 6.0% | -4.5% | ||
| Q4 24 | -9.8% | 5.1% | ||
| Q3 24 | 2.0% | -1.0% | ||
| Q2 24 | -10.5% | 8.8% |
| Q1 26 | 0.0% | — | ||
| Q4 25 | 3.5% | 2.0% | ||
| Q3 25 | 3.1% | 1.4% | ||
| Q2 25 | 3.6% | 1.7% | ||
| Q1 25 | 3.3% | 1.6% | ||
| Q4 24 | 4.7% | 2.1% | ||
| Q3 24 | 4.7% | 1.8% | ||
| Q2 24 | 4.4% | 2.2% |
| Q1 26 | — | — | ||
| Q4 25 | 2.61× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.71× | — | ||
| Q1 25 | 1.07× | — | ||
| Q4 24 | -0.66× | — | ||
| Q3 24 | 0.82× | — | ||
| Q2 24 | -0.73× | 13.35× |
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% |
QVCGA
| Other | $915.0M | 34% |
| Home | $754.0M | 28% |
| Beauty | $260.0M | 10% |
| Apparel | $254.0M | 9% |
| Electronics | $187.0M | 7% |
| Accessories | $181.0M | 7% |
| Jewelry | $87.0M | 3% |
| Manufactured Product Other | $38.0M | 1% |
