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LPL Financial Holdings vs Nasdaq: LPLA and NDAQ compared
LPL Financial Holdings is the larger company: $5.3B of revenue in its latest quarter (Q3 2026) against $2.4B for Nasdaq (Q3 2026). Nasdaq is growing faster (+21% against +17% a year earlier). Nasdaq is more profitable, with an operating margin of 30.6% against 9.1%.
Where the money goes: LPLA and NDAQ
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.
Nasdaq (NDAQ) · Q3 2026
Nasdaq, Q3 2026: revenue $2.4B (+21% year over year), operating margin 30.6%, net earnings $539M, operating cash flow $521M. The chart follows the revenue to costs, profit and cash.
| LPL Financial Holdings (LPLA) | Nasdaq (NDAQ) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $5.3B | $2.4B |
| Revenue growth, Y/Y | +17% | +21% |
| Gross margin | — | 61.9% |
| Operating margin | 9.1% | 30.6% |
| Net earnings | $357M | $539M |
| Net margin | 6.7% | 22.5% |
| Operating cash flow | $297M | $521M |
| Free cash flow | $67.5M | $459M |
| Market value | $23.8B | $60.4B |
| P/E | 17.4× | 29.3× |
| Analysts’ mean target | $404.06 | $115.38 |
Questions
Which is bigger, LPL Financial Holdings or Nasdaq?
LPL Financial Holdings is the larger company: $5.3B of revenue in its latest quarter (Q3 2026) against $2.4B for Nasdaq (Q3 2026).
Is LPL Financial Holdings or Nasdaq growing faster?
Nasdaq is growing faster (+21% against +17% a year earlier).
Which is more profitable, LPL Financial Holdings or Nasdaq?
Nasdaq is more profitable, with an operating margin of 30.6% against 9.1%.
More: LPL Financial Holdings earnings · how LPL Financial Holdings makes money · Nasdaq earnings · how Nasdaq makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Oct 22, 2026). Fiscal quarters can end on different dates. Not investment advice.