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Side-by-side financial comparison of LPL Financial Holdings Inc. (LPLA) and Smurfit Westrock (SW). Click either name above to swap in a different company.
Smurfit Westrock is the larger business by last-quarter revenue ($7.6B vs $4.9B, roughly 1.5× LPL Financial Holdings Inc.). LPL Financial Holdings Inc. runs the higher net margin — 6.1% vs 1.3%, a 4.8% gap on every dollar of revenue. On growth, LPL Financial Holdings Inc. posted the faster year-over-year revenue change (40.4% vs 0.5%). LPL Financial Holdings Inc. produced more free cash flow last quarter ($613.3M vs $612.0M). Over the past eight quarters, Smurfit Westrock's revenue compounded faster (60.8% CAGR vs 32.0%).
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.
Smurfit Westrock plc is an Irish company based in Dublin, Ireland that manufactures corrugated and paper-based packaging. Its stock is listed on the New York Stock Exchange and the London Stock Exchange.
LPLA vs SW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.9B | $7.6B |
| Net Profit | $300.7M | $97.0M |
| Gross Margin | — | 18.2% |
| Operating Margin | 8.1% | 5.1% |
| Net Margin | 6.1% | 1.3% |
| Revenue YoY | 40.4% | 0.5% |
| Net Profit YoY | 11.1% | -33.6% |
| EPS (diluted) | $3.65 | $0.18 |
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.
| Q4 25 | $4.9B | $7.6B | ||
| Q3 25 | $4.6B | $8.0B | ||
| Q2 25 | $3.8B | $7.9B | ||
| Q1 25 | $3.7B | $7.7B | ||
| Q4 24 | $3.5B | $7.5B | ||
| Q3 24 | $3.1B | $7.7B | ||
| Q2 24 | $2.9B | $3.0B | ||
| Q1 24 | $2.8B | $2.9B |
| Q4 25 | $300.7M | $97.0M | ||
| Q3 25 | $-29.5M | $246.0M | ||
| Q2 25 | $273.2M | $-28.0M | ||
| Q1 25 | $318.6M | $384.0M | ||
| Q4 24 | $270.7M | $146.0M | ||
| Q3 24 | $255.3M | $-150.0M | ||
| Q2 24 | $243.8M | $132.0M | ||
| Q1 24 | $288.8M | $191.0M |
| Q4 25 | — | 18.2% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | — | 20.6% | ||
| Q4 24 | — | 19.1% | ||
| Q3 24 | — | 17.6% | ||
| Q2 24 | — | 23.3% | ||
| Q1 24 | — | 24.2% |
| Q4 25 | 8.1% | 5.1% | ||
| Q3 25 | -0.7% | 6.6% | ||
| Q2 25 | 9.6% | 3.2% | ||
| Q1 25 | 11.4% | 7.2% | ||
| Q4 24 | 9.7% | 5.3% | ||
| Q3 24 | 11.2% | 0.7% | ||
| Q2 24 | 11.3% | 8.2% | ||
| Q1 24 | 13.2% | 10.5% |
| Q4 25 | 6.1% | 1.3% | ||
| Q3 25 | -0.6% | 3.1% | ||
| Q2 25 | 7.1% | -0.4% | ||
| Q1 25 | 8.7% | 5.0% | ||
| Q4 24 | 7.7% | 1.9% | ||
| Q3 24 | 8.2% | -2.0% | ||
| Q2 24 | 8.3% | 4.4% | ||
| Q1 24 | 10.2% | 6.5% |
| Q4 25 | $3.65 | $0.18 | ||
| Q3 25 | $-0.37 | $0.47 | ||
| Q2 25 | $3.40 | $-0.05 | ||
| Q1 25 | $4.24 | $0.73 | ||
| Q4 24 | $3.58 | $-0.12 | ||
| Q3 24 | $3.39 | $-0.30 | ||
| Q2 24 | $3.23 | $0.51 | ||
| Q1 24 | $3.83 | $0.73 |
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 | $892.0M |
| Total DebtLower is stronger | $7.3B | $13.4B |
| Stockholders' EquityBook value | $5.3B | $18.3B |
| Total Assets | $18.5B | $45.2B |
| Debt / EquityLower = less leverage | 1.36× | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $892.0M | ||
| Q3 25 | $1.6B | $851.0M | ||
| Q2 25 | $4.3B | $778.0M | ||
| Q1 25 | $1.4B | $797.0M | ||
| Q4 24 | $1.0B | $855.0M | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.4B | $26.8K | ||
| Q1 24 | $1.2B | $108 |
| Q4 25 | $7.3B | $13.4B | ||
| Q3 25 | $7.5B | $13.3B | ||
| Q2 25 | $7.2B | $13.3B | ||
| Q1 25 | $5.7B | $12.9B | ||
| Q4 24 | $5.5B | $12.5B | ||
| Q3 24 | $4.4B | $13.2B | ||
| Q2 24 | $4.4B | — | ||
| Q1 24 | $3.9B | — |
| Q4 25 | $5.3B | $18.3B | ||
| Q3 25 | $5.0B | $18.4B | ||
| Q2 25 | $5.1B | $18.3B | ||
| Q1 25 | $3.1B | $17.9B | ||
| Q4 24 | $2.9B | $17.4B | ||
| Q3 24 | $2.8B | $18.0B | ||
| Q2 24 | $2.5B | $14.5K | ||
| Q1 24 | $2.3B | $108 |
| Q4 25 | $18.5B | $45.2B | ||
| Q3 25 | $18.0B | $45.6B | ||
| Q2 25 | $17.5B | $45.7B | ||
| Q1 25 | $14.0B | $44.6B | ||
| Q4 24 | $13.3B | $43.8B | ||
| Q3 24 | $11.9B | $45.0B | ||
| Q2 24 | $11.5B | $26.8K | ||
| Q1 24 | $11.0B | $108 |
| Q4 25 | 1.36× | 0.73× | ||
| Q3 25 | 1.49× | 0.72× | ||
| Q2 25 | 1.41× | 0.73× | ||
| Q1 25 | 1.82× | 0.72× | ||
| Q4 24 | 1.87× | 0.72× | ||
| Q3 24 | 1.60× | 0.73× | ||
| Q2 24 | 1.77× | — | ||
| Q1 24 | 1.70× | — |
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 | $1.2B |
| Free Cash FlowOCF − Capex | $613.3M | $612.0M |
| FCF MarginFCF / Revenue | 12.4% | 8.1% |
| Capex IntensityCapex / Revenue | 3.5% | 7.7% |
| Cash ConversionOCF / Net Profit | 2.61× | 12.32× |
| TTM Free Cash FlowTrailing 4 quarters | $-981.8M | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $785.0M | $1.2B | ||
| Q3 25 | $-1.7B | $1.1B | ||
| Q2 25 | $193.3M | $829.0M | ||
| Q1 25 | $339.8M | $235.0M | ||
| Q4 24 | $-178.8M | $781.0M | ||
| Q3 24 | $209.3M | $320.0M | ||
| Q2 24 | $-178.9M | $340.0M | ||
| Q1 24 | $425.9M | $42.0M |
| Q4 25 | $613.3M | $612.0M | ||
| Q3 25 | $-1.9B | $523.0M | ||
| Q2 25 | $56.3M | $307.0M | ||
| Q1 25 | $220.3M | $-242.0M | ||
| Q4 24 | $-344.3M | $212.0M | ||
| Q3 24 | $62.3M | $-192.0M | ||
| Q2 24 | $-307.8M | $163.0M | ||
| Q1 24 | $304.9M | $-166.0M |
| Q4 25 | 12.4% | 8.1% | ||
| Q3 25 | -41.1% | 6.5% | ||
| Q2 25 | 1.5% | 3.9% | ||
| Q1 25 | 6.0% | -3.2% | ||
| Q4 24 | -9.8% | 2.8% | ||
| Q3 24 | 2.0% | -2.5% | ||
| Q2 24 | -10.5% | 5.5% | ||
| Q1 24 | 10.8% | -5.7% |
| Q4 25 | 3.5% | 7.7% | ||
| Q3 25 | 3.1% | 7.6% | ||
| Q2 25 | 3.6% | 6.6% | ||
| Q1 25 | 3.3% | 6.2% | ||
| Q4 24 | 4.7% | 7.5% | ||
| Q3 24 | 4.7% | 6.7% | ||
| Q2 24 | 4.4% | 6.0% | ||
| Q1 24 | 4.3% | 7.1% |
| Q4 25 | 2.61× | 12.32× | ||
| Q3 25 | — | 4.61× | ||
| Q2 25 | 0.71× | — | ||
| Q1 25 | 1.07× | 0.61× | ||
| Q4 24 | -0.66× | 5.35× | ||
| Q3 24 | 0.82× | — | ||
| Q2 24 | -0.73× | 2.58× | ||
| Q1 24 | 1.47× | 0.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LPLA
Segment breakdown not available.
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
