vs
Side-by-side financial comparison of LPL Financial Holdings Inc. (LPLA) and Union Pacific Corporation (UNP). Click either name above to swap in a different company.
Union Pacific Corporation is the larger business by last-quarter revenue ($6.2B vs $4.9B, roughly 1.3× LPL Financial Holdings Inc.). Union Pacific Corporation runs the higher net margin — 27.4% vs 6.1%, a 21.3% gap on every dollar of revenue. On growth, LPL Financial Holdings Inc. posted the faster year-over-year revenue change (40.4% vs 3.2%). Union Pacific Corporation produced more free cash flow last quarter ($631.0M vs $613.3M). Over the past eight quarters, LPL Financial Holdings Inc.'s revenue compounded faster (32.0% CAGR vs 1.7%).
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.
The Union Pacific Railroad Company is a Class I freight-hauling railroad that operates 8,300 locomotives over 32,200 miles (51,800 km) routes in 23 U.S. states west of Chicago and New Orleans. Union Pacific is the second-largest railroad in the United States after BNSF.
LPLA vs UNP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $4.9B | $6.2B |
| Net Profit | $300.7M | $1.7B |
| Gross Margin | — | — |
| Operating Margin | 8.1% | 39.5% |
| Net Margin | 6.1% | 27.4% |
| Revenue YoY | 40.4% | 3.2% |
| Net Profit YoY | 11.1% | 4.6% |
| EPS (diluted) | $3.65 | $2.87 |
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 | — | $6.2B | ||
| Q4 25 | $4.9B | $6.1B | ||
| Q3 25 | $4.6B | $6.2B | ||
| Q2 25 | $3.8B | $6.2B | ||
| Q1 25 | $3.7B | $6.0B | ||
| Q4 24 | $3.5B | $6.1B | ||
| Q3 24 | $3.1B | $6.1B | ||
| Q2 24 | $2.9B | $6.0B |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $300.7M | $1.8B | ||
| Q3 25 | $-29.5M | $1.8B | ||
| Q2 25 | $273.2M | $1.9B | ||
| Q1 25 | $318.6M | $1.6B | ||
| Q4 24 | $270.7M | $1.8B | ||
| Q3 24 | $255.3M | $1.7B | ||
| Q2 24 | $243.8M | $1.7B |
| Q1 26 | — | 39.5% | ||
| Q4 25 | 8.1% | 39.5% | ||
| Q3 25 | -0.7% | 40.8% | ||
| Q2 25 | 9.6% | 41.0% | ||
| Q1 25 | 11.4% | 39.3% | ||
| Q4 24 | 9.7% | 41.3% | ||
| Q3 24 | 11.2% | 39.7% | ||
| Q2 24 | 11.3% | 40.0% |
| Q1 26 | — | 27.4% | ||
| Q4 25 | 6.1% | 30.4% | ||
| Q3 25 | -0.6% | 28.6% | ||
| Q2 25 | 7.1% | 30.5% | ||
| Q1 25 | 8.7% | 27.0% | ||
| Q4 24 | 7.7% | 28.8% | ||
| Q3 24 | 8.2% | 27.4% | ||
| Q2 24 | 8.3% | 27.9% |
| Q1 26 | — | $2.87 | ||
| Q4 25 | $3.65 | $3.12 | ||
| Q3 25 | $-0.37 | $3.01 | ||
| Q2 25 | $3.40 | $3.15 | ||
| Q1 25 | $4.24 | $2.70 | ||
| Q4 24 | $3.58 | $2.91 | ||
| Q3 24 | $3.39 | $2.75 | ||
| Q2 24 | $3.23 | $2.74 |
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 | $735.0M |
| Total DebtLower is stronger | $7.3B | — |
| Stockholders' EquityBook value | $5.3B | — |
| Total Assets | $18.5B | $69.6B |
| Debt / EquityLower = less leverage | 1.36× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $735.0M | ||
| Q4 25 | $1.1B | $1.3B | ||
| Q3 25 | $1.6B | $808.0M | ||
| Q2 25 | $4.3B | $1.1B | ||
| Q1 25 | $1.4B | $1.4B | ||
| Q4 24 | $1.0B | $1.0B | ||
| Q3 24 | $1.6B | $947.0M | ||
| Q2 24 | $1.4B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | $7.3B | $30.3B | ||
| Q3 25 | $7.5B | $30.3B | ||
| Q2 25 | $7.2B | $30.3B | ||
| Q1 25 | $5.7B | $30.6B | ||
| Q4 24 | $5.5B | $29.8B | ||
| Q3 24 | $4.4B | $29.8B | ||
| Q2 24 | $4.4B | $31.2B |
| Q1 26 | — | — | ||
| Q4 25 | $5.3B | $18.5B | ||
| Q3 25 | $5.0B | $17.3B | ||
| Q2 25 | $5.1B | $16.3B | ||
| Q1 25 | $3.1B | $16.0B | ||
| Q4 24 | $2.9B | $16.9B | ||
| Q3 24 | $2.8B | $16.6B | ||
| Q2 24 | $2.5B | $16.5B |
| Q1 26 | — | $69.6B | ||
| Q4 25 | $18.5B | $69.7B | ||
| Q3 25 | $18.0B | $68.6B | ||
| Q2 25 | $17.5B | $68.6B | ||
| Q1 25 | $14.0B | $68.5B | ||
| Q4 24 | $13.3B | $67.7B | ||
| Q3 24 | $11.9B | $67.6B | ||
| Q2 24 | $11.5B | $67.8B |
| Q1 26 | — | — | ||
| Q4 25 | 1.36× | 1.64× | ||
| Q3 25 | 1.49× | 1.75× | ||
| Q2 25 | 1.41× | 1.86× | ||
| Q1 25 | 1.82× | 1.91× | ||
| Q4 24 | 1.87× | 1.76× | ||
| Q3 24 | 1.60× | 1.79× | ||
| Q2 24 | 1.77× | 1.89× |
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 | — |
| Free Cash FlowOCF − Capex | $613.3M | $631.0M |
| FCF MarginFCF / Revenue | 12.4% | 10.1% |
| Capex IntensityCapex / Revenue | 3.5% | — |
| Cash ConversionOCF / Net Profit | 2.61× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-981.8M | $4.8B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $785.0M | $2.2B | ||
| Q3 25 | $-1.7B | $2.5B | ||
| Q2 25 | $193.3M | $2.3B | ||
| Q1 25 | $339.8M | $2.2B | ||
| Q4 24 | $-178.8M | $2.7B | ||
| Q3 24 | $209.3M | $2.7B | ||
| Q2 24 | $-178.9M | $1.9B |
| Q1 26 | — | $631.0M | ||
| Q4 25 | $613.3M | $1.2B | ||
| Q3 25 | $-1.9B | $1.6B | ||
| Q2 25 | $56.3M | $1.4B | ||
| Q1 25 | $220.3M | $1.3B | ||
| Q4 24 | $-344.3M | $1.7B | ||
| Q3 24 | $62.3M | $1.8B | ||
| Q2 24 | $-307.8M | $1.0B |
| Q1 26 | — | 10.1% | ||
| Q4 25 | 12.4% | 20.1% | ||
| Q3 25 | -41.1% | 25.2% | ||
| Q2 25 | 1.5% | 22.7% | ||
| Q1 25 | 6.0% | 21.6% | ||
| Q4 24 | -9.8% | 28.4% | ||
| Q3 24 | 2.0% | 29.9% | ||
| Q2 24 | -10.5% | 16.8% |
| Q1 26 | — | — | ||
| Q4 25 | 3.5% | 16.4% | ||
| Q3 25 | 3.1% | 15.2% | ||
| Q2 25 | 3.6% | 15.2% | ||
| Q1 25 | 3.3% | 15.0% | ||
| Q4 24 | 4.7% | 15.1% | ||
| Q3 24 | 4.7% | 13.6% | ||
| Q2 24 | 4.4% | 15.0% |
| Q1 26 | — | — | ||
| Q4 25 | 2.61× | 1.20× | ||
| Q3 25 | — | 1.41× | ||
| Q2 25 | 0.71× | 1.24× | ||
| Q1 25 | 1.07× | 1.36× | ||
| Q4 24 | -0.66× | 1.51× | ||
| Q3 24 | 0.82× | 1.59× | ||
| Q2 24 | -0.73× | 1.14× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LPLA
Segment breakdown not available.
UNP
| Freight revenues | $5.9B | 95% |
| Other revenues | $324.0M | 5% |
