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Side-by-side financial comparison of LPL Financial Holdings Inc. (LPLA) and Vertiv Holdings Co (VRT). 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 $2.6B, roughly 1.9× Vertiv Holdings Co). Vertiv Holdings Co runs the higher net margin — 14.7% vs 6.1%, a 8.6% gap on every dollar of revenue. On growth, LPL Financial Holdings Inc. posted the faster year-over-year revenue change (40.4% vs 30.1%). Vertiv Holdings Co produced more free cash flow last quarter ($652.8M vs $613.3M). Over the past eight quarters, LPL Financial Holdings Inc.'s revenue compounded faster (32.0% CAGR vs 16.5%).
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.
Vertiv is an American multinational provider of critical infrastructure and services for data centers, communication networks, and commercial and industrial environments.
LPLA vs VRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $4.9B | $2.6B |
| Net Profit | $300.7M | $390.1M |
| Gross Margin | — | 37.7% |
| Operating Margin | 8.1% | — |
| Net Margin | 6.1% | 14.7% |
| Revenue YoY | 40.4% | 30.1% |
| Net Profit YoY | 11.1% | — |
| EPS (diluted) | $3.65 | $0.99 |
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 | — | $2.6B | ||
| Q4 25 | $4.9B | $2.9B | ||
| Q3 25 | $4.6B | $2.7B | ||
| Q2 25 | $3.8B | $2.6B | ||
| Q1 25 | $3.7B | $2.0B | ||
| Q4 24 | $3.5B | $2.3B | ||
| Q3 24 | $3.1B | $2.1B | ||
| Q2 24 | $2.9B | $2.0B |
| Q1 26 | — | $390.1M | ||
| Q4 25 | $300.7M | $445.6M | ||
| Q3 25 | $-29.5M | $398.5M | ||
| Q2 25 | $273.2M | $324.2M | ||
| Q1 25 | $318.6M | $164.5M | ||
| Q4 24 | $270.7M | $147.0M | ||
| Q3 24 | $255.3M | $176.6M | ||
| Q2 24 | $243.8M | $178.1M |
| Q1 26 | — | 37.7% | ||
| Q4 25 | — | 38.9% | ||
| Q3 25 | — | 37.8% | ||
| Q2 25 | — | 34.0% | ||
| Q1 25 | — | 33.7% | ||
| Q4 24 | — | 37.1% | ||
| Q3 24 | — | 36.5% | ||
| Q2 24 | — | 38.0% |
| Q1 26 | — | — | ||
| Q4 25 | 8.1% | 20.1% | ||
| Q3 25 | -0.7% | 19.3% | ||
| Q2 25 | 9.6% | 16.8% | ||
| Q1 25 | 11.4% | 14.3% | ||
| Q4 24 | 9.7% | 19.5% | ||
| Q3 24 | 11.2% | 17.9% | ||
| Q2 24 | 11.3% | 17.2% |
| Q1 26 | — | 14.7% | ||
| Q4 25 | 6.1% | 15.5% | ||
| Q3 25 | -0.6% | 14.9% | ||
| Q2 25 | 7.1% | 12.3% | ||
| Q1 25 | 8.7% | 8.1% | ||
| Q4 24 | 7.7% | 6.3% | ||
| Q3 24 | 8.2% | 8.5% | ||
| Q2 24 | 8.3% | 9.1% |
| Q1 26 | — | $0.99 | ||
| Q4 25 | $3.65 | $1.14 | ||
| Q3 25 | $-0.37 | $1.02 | ||
| Q2 25 | $3.40 | $0.83 | ||
| Q1 25 | $4.24 | $0.42 | ||
| Q4 24 | $3.58 | $0.38 | ||
| Q3 24 | $3.39 | $0.46 | ||
| Q2 24 | $3.23 | $0.46 |
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 | $2.5B |
| Total DebtLower is stronger | $7.3B | $0 |
| Stockholders' EquityBook value | $5.3B | $4.2B |
| Total Assets | $18.5B | $13.4B |
| Debt / EquityLower = less leverage | 1.36× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $2.5B | ||
| Q4 25 | $1.1B | $1.7B | ||
| Q3 25 | $1.6B | $1.4B | ||
| Q2 25 | $4.3B | $1.6B | ||
| Q1 25 | $1.4B | $1.5B | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $1.6B | $908.7M | ||
| Q2 24 | $1.4B | $579.7M |
| Q1 26 | — | $0 | ||
| Q4 25 | $7.3B | $2.9B | ||
| Q3 25 | $7.5B | $2.9B | ||
| Q2 25 | $7.2B | $2.9B | ||
| Q1 25 | $5.7B | $2.9B | ||
| Q4 24 | $5.5B | $2.9B | ||
| Q3 24 | $4.4B | $2.9B | ||
| Q2 24 | $4.4B | $2.9B |
| Q1 26 | — | $4.2B | ||
| Q4 25 | $5.3B | $3.9B | ||
| Q3 25 | $5.0B | $3.5B | ||
| Q2 25 | $5.1B | $3.1B | ||
| Q1 25 | $3.1B | $2.7B | ||
| Q4 24 | $2.9B | $2.4B | ||
| Q3 24 | $2.8B | $1.8B | ||
| Q2 24 | $2.5B | $1.5B |
| Q1 26 | — | $13.4B | ||
| Q4 25 | $18.5B | $12.2B | ||
| Q3 25 | $18.0B | $10.8B | ||
| Q2 25 | $17.5B | $10.4B | ||
| Q1 25 | $14.0B | $9.5B | ||
| Q4 24 | $13.3B | $9.1B | ||
| Q3 24 | $11.9B | $8.9B | ||
| Q2 24 | $11.5B | $8.1B |
| Q1 26 | — | 0.00× | ||
| Q4 25 | 1.36× | 0.74× | ||
| Q3 25 | 1.49× | 0.83× | ||
| Q2 25 | 1.41× | 0.93× | ||
| Q1 25 | 1.82× | 1.10× | ||
| Q4 24 | 1.87× | 1.20× | ||
| Q3 24 | 1.60× | 1.62× | ||
| Q2 24 | 1.77× | 1.91× |
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 | $652.8M |
| FCF MarginFCF / Revenue | 12.4% | 24.6% |
| Capex IntensityCapex / Revenue | 3.5% | 4.2% |
| Cash ConversionOCF / Net Profit | 2.61× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-981.8M | $2.3B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $785.0M | $978.9M | ||
| Q3 25 | $-1.7B | $508.7M | ||
| Q2 25 | $193.3M | $322.9M | ||
| Q1 25 | $339.8M | $303.3M | ||
| Q4 24 | $-178.8M | $425.2M | ||
| Q3 24 | $209.3M | $378.2M | ||
| Q2 24 | $-178.9M | $378.4M |
| Q1 26 | — | $652.8M | ||
| Q4 25 | $613.3M | $885.6M | ||
| Q3 25 | $-1.9B | $463.5M | ||
| Q2 25 | $56.3M | $277.9M | ||
| Q1 25 | $220.3M | $266.8M | ||
| Q4 24 | $-344.3M | $364.5M | ||
| Q3 24 | $62.3M | $341.8M | ||
| Q2 24 | $-307.8M | $344.3M |
| Q1 26 | — | 24.6% | ||
| Q4 25 | 12.4% | 30.8% | ||
| Q3 25 | -41.1% | 17.3% | ||
| Q2 25 | 1.5% | 10.5% | ||
| Q1 25 | 6.0% | 13.1% | ||
| Q4 24 | -9.8% | 15.5% | ||
| Q3 24 | 2.0% | 16.5% | ||
| Q2 24 | -10.5% | 17.6% |
| Q1 26 | — | 4.2% | ||
| Q4 25 | 3.5% | 3.2% | ||
| Q3 25 | 3.1% | 1.7% | ||
| Q2 25 | 3.6% | 1.7% | ||
| Q1 25 | 3.3% | 1.8% | ||
| Q4 24 | 4.7% | 2.6% | ||
| Q3 24 | 4.7% | 1.8% | ||
| Q2 24 | 4.4% | 1.7% |
| Q1 26 | — | — | ||
| Q4 25 | 2.61× | 2.20× | ||
| Q3 25 | — | 1.28× | ||
| Q2 25 | 0.71× | 1.00× | ||
| Q1 25 | 1.07× | 1.84× | ||
| Q4 24 | -0.66× | 2.89× | ||
| Q3 24 | 0.82× | 2.14× | ||
| Q2 24 | -0.73× | 2.12× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
