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Side-by-side financial comparison of LPL Financial Holdings Inc. (LPLA) and Tapestry, Inc. (TPR). 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 $2.5B, roughly 2.0× Tapestry, Inc.). Tapestry, Inc. runs the higher net margin — 22.4% vs 7.2%, a 15.2% gap on every dollar of revenue. On growth, LPL Financial Holdings Inc. posted the faster year-over-year revenue change (34.6% vs 14.0%). Over the past eight quarters, Tapestry, Inc.'s revenue compounded faster (29.9% CAGR vs 29.8%).
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.
Tapestry, Inc. is a leading American multinational luxury fashion holding company. It owns three iconic lifestyle brands: Coach, Kate Spade New York, and Stuart Weitzman, offering premium handbags, apparel, footwear, accessories, and fragrances to global consumers via physical retail stores and e-commerce platforms.
LPLA vs TPR — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $4.9B | $2.5B |
| Net Profit | $356.4M | $561.3M |
| Gross Margin | 32.3% | 75.5% |
| Operating Margin | — | 28.6% |
| Net Margin | 7.2% | 22.4% |
| Revenue YoY | 34.6% | 14.0% |
| Net Profit YoY | — | 80.8% |
| EPS (diluted) | $4.43 | $2.68 |
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 | $2.5B | ||
| Q3 25 | $4.6B | $1.7B | ||
| Q2 25 | $3.8B | $1.7B | ||
| Q1 25 | $3.7B | $1.6B | ||
| Q4 24 | $3.5B | $2.2B | ||
| Q3 24 | $3.1B | $1.5B | ||
| Q2 24 | $2.9B | $1.6B |
| Q1 26 | $356.4M | — | ||
| Q4 25 | $300.7M | $561.3M | ||
| Q3 25 | $-29.5M | $274.8M | ||
| Q2 25 | $273.2M | $-517.1M | ||
| Q1 25 | $318.6M | $203.3M | ||
| Q4 24 | $270.7M | $310.4M | ||
| Q3 24 | $255.3M | $186.6M | ||
| Q2 24 | $243.8M | $159.3M |
| Q1 26 | 32.3% | — | ||
| Q4 25 | — | 75.5% | ||
| Q3 25 | — | 76.3% | ||
| Q2 25 | — | 76.3% | ||
| Q1 25 | — | 76.1% | ||
| Q4 24 | — | 74.4% | ||
| Q3 24 | — | 75.3% | ||
| Q2 24 | — | 74.9% |
| Q1 26 | — | — | ||
| Q4 25 | 8.1% | 28.6% | ||
| Q3 25 | -0.7% | 19.3% | ||
| Q2 25 | 9.6% | -33.9% | ||
| Q1 25 | 11.4% | 16.0% | ||
| Q4 24 | 9.7% | 22.4% | ||
| Q3 24 | 11.2% | 16.7% | ||
| Q2 24 | 11.3% | 14.8% |
| Q1 26 | 7.2% | — | ||
| Q4 25 | 6.1% | 22.4% | ||
| Q3 25 | -0.6% | 16.1% | ||
| Q2 25 | 7.1% | -30.0% | ||
| Q1 25 | 8.7% | 12.8% | ||
| Q4 24 | 7.7% | 14.1% | ||
| Q3 24 | 8.2% | 12.4% | ||
| Q2 24 | 8.3% | 10.0% |
| Q1 26 | $4.43 | — | ||
| Q4 25 | $3.65 | $2.68 | ||
| Q3 25 | $-0.37 | $1.28 | ||
| Q2 25 | $3.40 | $-2.30 | ||
| Q1 25 | $4.24 | $0.95 | ||
| Q4 24 | $3.58 | $1.38 | ||
| Q3 24 | $3.39 | $0.79 | ||
| Q2 24 | $3.23 | $0.67 |
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 | $1.1B |
| Total DebtLower is stronger | — | $2.4B |
| Stockholders' EquityBook value | $5.7B | $551.2M |
| Total Assets | $18.8B | $6.5B |
| Debt / EquityLower = less leverage | — | 4.32× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.1B | $1.1B | ||
| Q3 25 | $1.6B | $743.2M | ||
| Q2 25 | $4.3B | $1.1B | ||
| Q1 25 | $1.4B | $1.1B | ||
| Q4 24 | $1.0B | $1.0B | ||
| Q3 24 | $1.6B | $7.3B | ||
| Q2 24 | $1.4B | $7.2B |
| Q1 26 | — | — | ||
| Q4 25 | $7.3B | $2.4B | ||
| Q3 25 | $7.5B | $2.4B | ||
| Q2 25 | $7.2B | $2.4B | ||
| Q1 25 | $5.7B | $2.4B | ||
| Q4 24 | $5.5B | $2.4B | ||
| Q3 24 | $4.4B | $7.0B | ||
| Q2 24 | $4.4B | $6.9B |
| Q1 26 | $5.7B | — | ||
| Q4 25 | $5.3B | $551.2M | ||
| Q3 25 | $5.0B | $399.5M | ||
| Q2 25 | $5.1B | $857.8M | ||
| Q1 25 | $3.1B | $1.5B | ||
| Q4 24 | $2.9B | $1.3B | ||
| Q3 24 | $2.8B | $3.0B | ||
| Q2 24 | $2.5B | $2.9B |
| Q1 26 | $18.8B | — | ||
| Q4 25 | $18.5B | $6.5B | ||
| Q3 25 | $18.0B | $6.4B | ||
| Q2 25 | $17.5B | $6.6B | ||
| Q1 25 | $14.0B | $7.3B | ||
| Q4 24 | $13.3B | $7.3B | ||
| Q3 24 | $11.9B | $13.7B | ||
| Q2 24 | $11.5B | $13.4B |
| Q1 26 | — | — | ||
| Q4 25 | 1.36× | 4.32× | ||
| Q3 25 | 1.49× | 5.95× | ||
| Q2 25 | 1.41× | 2.77× | ||
| Q1 25 | 1.82× | 1.59× | ||
| Q4 24 | 1.87× | 1.78× | ||
| Q3 24 | 1.60× | 2.35× | ||
| Q2 24 | 1.77× | 2.39× |
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 | — | $1.0B |
| FCF MarginFCF / Revenue | — | 41.5% |
| Capex IntensityCapex / Revenue | 0.0% | 1.7% |
| Cash ConversionOCF / Net Profit | — | 1.93× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.6B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $785.0M | $1.1B | ||
| Q3 25 | $-1.7B | $112.6M | ||
| Q2 25 | $193.3M | $446.8M | ||
| Q1 25 | $339.8M | $144.3M | ||
| Q4 24 | $-178.8M | $506.0M | ||
| Q3 24 | $209.3M | $119.5M | ||
| Q2 24 | $-178.9M | $256.0M |
| Q1 26 | — | — | ||
| Q4 25 | $613.3M | $1.0B | ||
| Q3 25 | $-1.9B | $80.2M | ||
| Q2 25 | $56.3M | $411.5M | ||
| Q1 25 | $220.3M | $113.4M | ||
| Q4 24 | $-344.3M | $475.1M | ||
| Q3 24 | $62.3M | $93.9M | ||
| Q2 24 | $-307.8M | $209.8M |
| Q1 26 | — | — | ||
| Q4 25 | 12.4% | 41.5% | ||
| Q3 25 | -41.1% | 4.7% | ||
| Q2 25 | 1.5% | 23.9% | ||
| Q1 25 | 6.0% | 7.2% | ||
| Q4 24 | -9.8% | 21.6% | ||
| Q3 24 | 2.0% | 6.2% | ||
| Q2 24 | -10.5% | 13.2% |
| Q1 26 | 0.0% | — | ||
| Q4 25 | 3.5% | 1.7% | ||
| Q3 25 | 3.1% | 1.9% | ||
| Q2 25 | 3.6% | 2.0% | ||
| Q1 25 | 3.3% | 2.0% | ||
| Q4 24 | 4.7% | 1.4% | ||
| Q3 24 | 4.7% | 1.7% | ||
| Q2 24 | 4.4% | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | 2.61× | 1.93× | ||
| Q3 25 | — | 0.41× | ||
| Q2 25 | 0.71× | — | ||
| Q1 25 | 1.07× | 0.71× | ||
| Q4 24 | -0.66× | 1.63× | ||
| Q3 24 | 0.82× | 0.64× | ||
| Q2 24 | -0.73× | 1.61× |
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% |
TPR
| Coach | $1.4B | 57% |
| Other | $787.0M | 31% |
| Kate Spade Company | $290.0M | 12% |
