Lake People G103-S Mk II vs Schiit Valhalla 2

Short answer

More power: the Lake People G103-S Mk II, with 1.00 W into 32 Ω; the Schiit Valhalla 2 has 115 mW. The Lake People G103-S Mk II drives 5 headphones to 100 dB that the Schiit Valhalla 2 cannot (Moondrop COSMO, Moondrop PARA, Symphonium Crimson, 2 more).
Hiss with sensitive IEMs: cannot be compared — the maker of the Schiit Valhalla 2 publishes no noise figure.
Output impedance: 522 headphones are left alone by the Lake People G103-S Mk II under the one-eighth rule but coloured by the Schiit Valhalla 2 (64 Audio Aspire 1, 64 Audio Fourte, 64 Audio Nio, 519 more).
Price: the Lake People G103-S Mk II costs $1 more; what that buys on these numbers is set out further down, under What the price difference buys.

Both are desktop amplifiers, $350 against $349.

The Lake People G103-S Mk II reaches 100 dB on 566 of the 567 models here, the Schiit Valhalla 2 on 561.

Every published figure, next to each other

Specification	Lake People G103-S Mk II	Schiit Valhalla 2
Power into 32Ω	1.0 W	115 mW
Power into 150Ω	804 mW	426 mW
Power into 300Ω	580 mW	800 mW
Power into 600Ω	340 mW	450 mW
Output impedance	0.1 Ω	14.0 Ω
Output noise	6.15 µV	not published
Price	$350	$349
Headphones it reaches 100 dB on out of 567	566	561

Not published means the maker leaves it out, so that axis cannot be compared.

Where each power figure comes from

Load	Lake People G103-S Mk II	Schiit Valhalla 2
32 Ω	Published	Derived
150 Ω	Derived	Derived
300 Ω	Published	Published
600 Ω	Published	Published

Both makers publish a power rating. Lake People G103-S Mk II publishes at 32 Ω, at 300 Ω and at 600 Ω; Schiit Valhalla 2 at 300 Ω and at 600 Ω. The other rows are worked out from those.

So the two columns are not equally firm row by row: at 32 Ω only the Lake People G103-S Mk II figure is the maker’s own. On those rows the derived number is the one to doubt first.

What the labels mean.

The headphones that tell them apart

5 headphones reach 100 dB on the Lake People G103-S Mk II but not on the Schiit Valhalla 2 — Moondrop COSMO, Moondrop PARA, Symphonium Crimson, 2 more.

522 headphones are left alone by the Lake People G103-S Mk II under the one-eighth rule but coloured by the Schiit Valhalla 2 (64 Audio Aspire 1, 64 Audio Fourte, 64 Audio Nio, 519 more).

561 of the 567 models here reach 100 dB on both.

Headroom and hiss on 8 models, both sources

Headroom is at a 100 dB SPL peak.

The widest gap on the list is the Shure SE846: Lake People G103-S Mk II has +38 dB of headroom there against +29 dB. 9 dB is about 8.7 times the power, which matters for peaks rather than for how loud the music sits.

The hiss columns are empty for Schiit Valhalla 2 because that maker publishes no output noise figure.

Headphone	Impedance	Needs	Lake People G103-S Mk II headroom	Schiit Valhalla 2 headroom	Lake People G103-S Mk II hiss	Schiit Valhalla 2 hiss
Shure SE846	9 Ω	0.04 mW	+38 dB	+29 dB damping	30 dB	not published
Campfire Audio Andromeda 2020	9 Ω	4.0 mW	+18 dB	+9 dB damping	10 dB	not published
Audeze LCD-2 Classic	70 Ω	0.79 mW	+32 dB	+25 dB damping	8 dB	not published
Beyerdynamic DT 1990 Pro (250Ω)	250 Ω	0.63 mW	+30 dB	+30 dB	4 dB	not published
HiFiMAN HE400se	25 Ω	7.9 mW	+20 dB	+11 dB damping	3 dB	not published
Audio-Technica ATH-R70X	470 Ω	1.6 mW	+24 dB	+25 dB	-3 dB	not published
Sennheiser HD 600	300 Ω	6.6 mW	+19 dB	+21 dB	-7 dB	not published
HiFiMAN Susvara	60 Ω	50 mW	+14 dB	+6 dB damping	-9 dB	not published

The gap in dollars, against the gap in numbers

The Lake People G103-S Mk II costs $1 more than the Schiit Valhalla 2. Out of the 567 models here, that difference buys 5 more models driven to 100 dB and 522 more models left alone under the one-eighth rule.

Nothing runs the other way: there is no axis here on which the cheaper of the two does better.

Only published figures count here; blank axes are counted separately.