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Side-by-side financial comparison of LPL Financial Holdings Inc. (LPLA) and Viking Holdings Ltd (VIK). 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 $4.0B, roughly 1.2× Viking Holdings Ltd). Viking Holdings Ltd runs the higher net margin — 12.9% vs 7.2%, a 5.7% gap on every dollar of revenue.
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.
Norwegian Cruise Line Holdings (NCLH) is a holding company that is based in the United States and domiciled in Bermuda. It operates three cruise lines as wholly owned subsidiaries: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. With its subsidiaries combined, it is the third-largest cruise operator in the world. It is a publicly traded company listed on the New York Stock Exchange.
LPLA vs VIK — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.9B | $4.0B |
| Net Profit | $356.4M | $514.0M |
| Gross Margin | 32.3% | 73.4% |
| Operating Margin | — | 15.2% |
| Net Margin | 7.2% | 12.9% |
| Revenue YoY | 34.6% | — |
| Net Profit YoY | — | 35.4% |
| EPS (diluted) | $4.43 | $1.15 |
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 | — | ||
| Q3 25 | $4.6B | $4.0B | ||
| Q2 25 | $3.8B | $2.3B | ||
| Q1 25 | $3.7B | $718.2M | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | $3.1B | $3.6B | ||
| Q2 24 | $2.9B | $2.1B |
| Q1 26 | $356.4M | — | ||
| Q4 25 | $300.7M | — | ||
| Q3 25 | $-29.5M | $514.0M | ||
| Q2 25 | $273.2M | $439.2M | ||
| Q1 25 | $318.6M | $-105.5M | ||
| Q4 24 | $270.7M | — | ||
| Q3 24 | $255.3M | $379.7M | ||
| Q2 24 | $243.8M | $159.8M |
| Q1 26 | 32.3% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 73.4% | ||
| Q2 25 | — | 55.7% | ||
| Q1 25 | — | 17.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 74.7% | ||
| Q2 24 | — | 57.8% |
| Q1 26 | — | — | ||
| Q4 25 | 8.1% | — | ||
| Q3 25 | -0.7% | 15.2% | ||
| Q2 25 | 9.6% | 23.7% | ||
| Q1 25 | 11.4% | -1.3% | ||
| Q4 24 | 9.7% | — | ||
| Q3 24 | 11.2% | 13.6% | ||
| Q2 24 | 11.3% | 20.5% |
| Q1 26 | 7.2% | — | ||
| Q4 25 | 6.1% | — | ||
| Q3 25 | -0.6% | 12.9% | ||
| Q2 25 | 7.1% | 19.1% | ||
| Q1 25 | 8.7% | -14.7% | ||
| Q4 24 | 7.7% | — | ||
| Q3 24 | 8.2% | 10.6% | ||
| Q2 24 | 8.3% | 7.7% |
| Q1 26 | $4.43 | — | ||
| Q4 25 | $3.65 | — | ||
| Q3 25 | $-0.37 | $1.15 | ||
| Q2 25 | $3.40 | $0.99 | ||
| Q1 25 | $4.24 | $-0.24 | ||
| Q4 24 | $3.58 | — | ||
| Q3 24 | $3.39 | $0.87 | ||
| Q2 24 | $3.23 | $0.38 |
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 | $3.0B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.7B | $803.5M |
| Total Assets | $18.8B | $11.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.6B | $3.0B | ||
| Q2 25 | $4.3B | $2.6B | ||
| Q1 25 | $1.4B | $2.8B | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.6B | $2.4B | ||
| Q2 24 | $1.4B | $1.8B |
| Q1 26 | — | — | ||
| Q4 25 | $7.3B | — | ||
| Q3 25 | $7.5B | — | ||
| Q2 25 | $7.2B | — | ||
| Q1 25 | $5.7B | — | ||
| Q4 24 | $5.5B | — | ||
| Q3 24 | $4.4B | — | ||
| Q2 24 | $4.4B | — |
| Q1 26 | $5.7B | — | ||
| Q4 25 | $5.3B | — | ||
| Q3 25 | $5.0B | $803.5M | ||
| Q2 25 | $5.1B | $278.3M | ||
| Q1 25 | $3.1B | $-267.5M | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $2.8B | $-688.9M | ||
| Q2 24 | $2.5B | $-1.1B |
| Q1 26 | $18.8B | — | ||
| Q4 25 | $18.5B | — | ||
| Q3 25 | $18.0B | $11.5B | ||
| Q2 25 | $17.5B | $11.1B | ||
| Q1 25 | $14.0B | $10.7B | ||
| Q4 24 | $13.3B | — | ||
| Q3 24 | $11.9B | — | ||
| Q2 24 | $11.5B | — |
| 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× | — | ||
| 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 | — | $663.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | — | 1.29× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $785.0M | — | ||
| Q3 25 | $-1.7B | $663.9M | ||
| Q2 25 | $193.3M | $470.7M | ||
| Q1 25 | $339.8M | $587.9M | ||
| Q4 24 | $-178.8M | — | ||
| Q3 24 | $209.3M | $828.7M | ||
| Q2 24 | $-178.9M | $419.8M |
| Q1 26 | — | — | ||
| Q4 25 | $613.3M | — | ||
| Q3 25 | $-1.9B | — | ||
| Q2 25 | $56.3M | — | ||
| Q1 25 | $220.3M | — | ||
| Q4 24 | $-344.3M | — | ||
| Q3 24 | $62.3M | — | ||
| Q2 24 | $-307.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | 12.4% | — | ||
| Q3 25 | -41.1% | — | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | 6.0% | — | ||
| Q4 24 | -9.8% | — | ||
| Q3 24 | 2.0% | — | ||
| Q2 24 | -10.5% | — |
| Q1 26 | 0.0% | — | ||
| Q4 25 | 3.5% | — | ||
| Q3 25 | 3.1% | — | ||
| Q2 25 | 3.6% | — | ||
| Q1 25 | 3.3% | — | ||
| Q4 24 | 4.7% | — | ||
| Q3 24 | 4.7% | — | ||
| Q2 24 | 4.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | 2.61× | — | ||
| Q3 25 | — | 1.29× | ||
| Q2 25 | 0.71× | 1.07× | ||
| Q1 25 | 1.07× | — | ||
| Q4 24 | -0.66× | — | ||
| Q3 24 | 0.82× | 2.18× | ||
| Q2 24 | -0.73× | 2.63× |
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% |
VIK
Segment breakdown not available.
