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LPL Financial Holdings vs Intercontinental Exchange: LPLA and ICE compared
LPL Financial Holdings is the larger company: $5.3B of revenue in its latest quarter (Q3 2026) against $3.6B for Intercontinental Exchange (Q3 2026). Intercontinental Exchange is growing faster (+21% against +17% a year earlier). Intercontinental Exchange is more profitable, with an operating margin of 38.8% against 9.1%.
Where the money goes: LPLA and ICE
LPL Financial Holdings (LPLA) · Q3 2026
LPL Financial Holdings, Q3 2026: revenue $5.3B (+17% year over year), operating margin 9.1%, net earnings $357M, operating cash flow $297M. The chart follows the revenue to costs, profit and cash.
Intercontinental Exchange (ICE) · Q3 2026
Intercontinental Exchange, Q3 2026: revenue $3.6B (+21% year over year), operating margin 38.8%, net earnings $940M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| LPL Financial Holdings (LPLA) | Intercontinental Exchange (ICE) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $5.3B | $3.6B |
| Revenue growth, Y/Y | +17% | +21% |
| Operating margin | 9.1% | 38.8% |
| Net earnings | $357M | $940M |
| Net margin | 6.7% | 25.9% |
| Operating cash flow | $297M | $1.2B |
| Free cash flow | $67.5M | $1.1B |
| Market value | $23.8B | $98.0B |
| P/E | 17.4× | 23.7× |
| Analysts’ mean target | $404.06 | $192.20 |
Where the revenue comes from
Intercontinental Exchange
- Exchanges: $2.4B (66%)
- Mortgage technology: $549M (15%)
- Fixed income data and analytics: $336M (9%)
- Listings: $130M (4%)
Questions
Which is bigger, LPL Financial Holdings or Intercontinental Exchange?
LPL Financial Holdings is the larger company: $5.3B of revenue in its latest quarter (Q3 2026) against $3.6B for Intercontinental Exchange (Q3 2026).
Is LPL Financial Holdings or Intercontinental Exchange growing faster?
Intercontinental Exchange is growing faster (+21% against +17% a year earlier).
Which is more profitable, LPL Financial Holdings or Intercontinental Exchange?
Intercontinental Exchange is more profitable, with an operating margin of 38.8% against 9.1%.
More: LPL Financial Holdings earnings · how LPL Financial Holdings makes money · Intercontinental Exchange earnings · how Intercontinental Exchange makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Oct 29, 2026). Fiscal quarters can end on different dates. Not investment advice.