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LPL Financial (LPLA) Financials

LPL Financial logo
$369.91 -25.82 (-6.52%)
Closing price 08/1/2025 04:00 PM Eastern
Extended Trading
$369.76 -0.15 (-0.04%)
As of 08/1/2025 07:53 PM Eastern
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Annual Income Statements for LPL Financial

Annual Income Statements for LPL Financial

This table shows LPL Financial's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 4,444 192 239 439 560 473 460 846 1,066 1,059
Consolidated Net Income / (Loss)		 169 192 239 439 560 473 460 846 1,066 1,059
Net Income / (Loss) Continuing Operations		 4,444 192 239 439 560 473 460 846 1,066 1,059
Total Pre-Tax Income 		283 298 365 593 742 626 601 1,112 1,445 1,393
Total Revenue		 8,491 4,049 4,235 5,188 5,495 5,766 7,616 8,475 10,053 12,385
Net Interest Income / (Expense)		 -59 0.00 0.00 0.00 -130 -106 -104 -126 0.00 0.00
Total Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 59 0.00 0.00 0.00 130 106 104 126 0.00 0.00
Total Non-Interest Income		 8,550 4,049 4,235 5,188 5,625 5,872 7,721 8,601 10,053 12,385
Trust Fees by Commissions		 1,977 1,737 1,671 1,920 1,892 1,907 2,379 2,326 2,553 3,305
Other Service Charges		 946 2,312 2,586 1,475 1,703 1,608 1,788 2,322 3,205 3,430
Investment Banking Income		 1,352 - - 1,793 1,983 2,328 3,525 3,875 4,136 5,462
Other Non-Interest Income		 4,275 - - - 47 29 29 77 159 188
Total Non-Interest Expense		 3,933 3,752 3,870 4,596 4,753 5,140 7,015 7,363 8,608 10,992
Salaries and Employee Benefits		 3,305 3,037 3,127 3,684 3,944 4,306 5,921 6,146 6,895 8,888
Net Occupancy & Equipment Expense		 131 137 142 162 186 219 246 287 324 357
Marketing Expense		 139 149 172 209 206 208 302 340 459 589
Other Operating Expenses		 235 315 307 393 253 229 291 303 388 440
Depreciation Expense		 73 76 84 88 96 110 151 200 247 309
Amortization Expense		 38 38 38 60 65 67 79 88 107 135
Other Special Charges		 - 0.00 - 0.00 3.16 0.00 24 - 187 274
Income Tax Expense		 114 106 126 153 182 153 141 266 379 334
Basic Earnings per Share		 $1.77 $2.15 $2.65 $4.99 $6.78 $5.96 $5.75 $10.60 $13.88 $14.17
Weighted Average Basic Shares Outstanding		 95.27M 89.07M 90.00M 88.12M 82.55M 79.24M 80.00M 79.80M 76.81M 74.71M
Diluted Earnings per Share		 $1.74 $2.13 $2.59 $4.85 $6.62 $5.86 $5.63 $10.40 $13.69 $14.03
Weighted Average Diluted Shares Outstanding		 96.79M 90.01M 92.12M 90.62M 84.62M 80.70M 81.74M 81.29M 77.86M 75.43M
Weighted Average Basic & Diluted Shares Outstanding		 95.40M 89.30M 90.10M 88.10M 79.62M 79.68M 79.97M 78.67M 74.45M 74.57M
Cash Dividends to Common per Share		 $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 $1.20 $1.20

Quarterly Income Statements for LPL Financial

This table shows LPL Financial's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 232 319 339 286 224 218 289 244 255 271
Consolidated Net Income / (Loss)		 232 319 339 286 224 218 289 244 255 271
Net Income / (Loss) Continuing Operations		 232 319 339 286 224 218 289 244 255 271
Total Pre-Tax Income 		307 419 444 389 318 294 374 330 347 341
Total Revenue		 2,130 2,269 2,418 2,424 2,522 2,689 2,773 2,867 3,041 3,705
Net Interest Income / (Expense)		 -33 -72 37 -45 0.00 7.48 -60 -64 -68 192
Total Interest Expense		 33 64 0.00 45 0.00 -45 60 64 68 -192
Total Non-Interest Income		 2,163 2,341 2,380 2,469 2,522 2,681 2,833 2,932 3,108 3,512
Trust Fees by Commissions		 585 582 604 623 644 682 746 787 807 965
Other Service Charges		 632 811 823 793 756 833 843 809 874 904
Investment Banking Income		 924 902 954 1,015 1,082 1,085 1,200 1,288 1,378 1,596
Other Non-Interest Income		 22 - - 38 41 - 44 47 50 47
Total Non-Interest Expense		 1,823 1,850 1,973 2,035 2,205 2,395 2,398 2,537 2,693 3,363
Salaries and Employee Benefits		 1,513 1,566 1,604 1,680 1,732 1,879 2,008 2,093 2,214 2,572
Net Occupancy & Equipment Expense		 72 77 78 86 81 80 86 89 88 94
Marketing Expense		 95 80 98 103 132 127 127 136 165 162
Other Operating Expenses		 69 77 74 81 119 114 81 118 116 126
Depreciation Expense		 52 54 56 58 65 68 67 71 78 92
Amortization Expense		 23 23 24 27 28 29 30 31 32 43
Income Tax Expense		 74 100 106 103 93 76 85 86 92 71
Basic Earnings per Share		 $2.91 $4.01 $4.30 $3.70 $2.95 $2.93 $3.87 $3.26 $3.41 $3.63
Weighted Average Basic Shares Outstanding		 79.81M 79.80M 78.75M 77.23M 76.06M 76.81M 74.56M 74.73M 74.78M 74.71M
Diluted Earnings per Share		 $2.86 $3.93 $4.24 $3.65 $2.91 $2.89 $3.83 $3.23 $3.39 $3.58
Weighted Average Diluted Shares Outstanding		 81.25M 81.29M 79.97M 78.19M 77.15M 77.86M 75.46M 75.55M 75.41M 75.43M
Weighted Average Basic & Diluted Shares Outstanding		 79.60M 78.67M 77.67M 76.30M 75.62M 74.45M 74.71M 74.76M 74.88M 74.57M

Annual Cash Flow Statements for LPL Financial

This table details how cash moves in and out of LPL Financial's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 312 135 67 -64 -90 327 273 1,065 -556 103
Net Cash From Operating Activities		 279 389 453 582 624 790 453 1,946 513 278
Net Cash From Continuing Operating Activities		 279 389 453 582 624 790 453 1,946 513 278
Net Income / (Loss) Continuing Operations		 169 192 239 439 560 473 460 846 1,066 1,059
Consolidated Net Income / (Loss)		 169 192 239 439 560 473 460 846 1,066 1,059
Provision For Loan Losses		 2.54 4.06 2.79 6.11 6.70 5.82 9.17 14 16 19
Depreciation Expense		 73 76 84 88 96 110 151 200 247 309
Amortization Expense		 42 44 43 64 70 73 85 94 116 147
Non-Cash Adjustments to Reconcile Net Income		 34 56 87 104 98 111 228 154 263 391
Changes in Operating Assets and Liabilities, net		 -41 18 -1.92 -120 -207 18 -481 638 -1,195 -1,646
Net Cash From Investing Activities		 -75 -127 -438 -162 -181 -187 -459 -376 -860 -1,592
Net Cash From Continuing Investing Activities		 -75 -127 -438 -162 -181 -187 -459 -376 -860 -1,592
Purchase of Property, Leasehold Improvements and Equipment		 -73 -128 -112 -133 -156 -156 -216 -307 -403 -563
Purchase of Investment Securities		 -4.60 -4.02 -329 -34 -30 -37 -248 -75 -462 -1,025
Sale and/or Maturity of Investments		 3.36 5.00 3.01 5.00 5.00 5.10 5.00 5.00 5.50 5.00
Other Investing Activities, net		 -1.14 - - - - - - 0.00 0.00 -9.61
Net Cash From Financing Activities		 108 -127 51 -483 -533 -275 279 -504 -209 1,417
Net Cash From Continuing Financing Activities		 108 -127 51 -483 -533 -275 279 -504 -209 1,417
Issuance of Debt		 1,149 0.00 2,612 0.00 923 1,806 2,859 815 2,467 3,448
Repayment of Debt		 -588 -18 -2,429 -15 -907 -1,862 -2,422 -918 -1,462 -1,708
Repurchase of Common Equity		 -391 -25 -114 -418 -500 -150 -90 -325 -1,100 -170
Payment of Dividends		 -96 -89 -90 -88 -83 -79 -80 -80 -92 -90
Other Financing Activities, Net		 34 4.41 73 38 34 9.65 11 3.17 -22 -63
Cash Interest Paid		 51 92 93 124 127 107 104 119 191 268
Cash Income Taxes Paid		 132 123 139 122 213 169 145 238 536 320

Quarterly Cash Flow Statements for LPL Financial

This table details how cash moves in and out of LPL Financial's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 1,925 -442 -755 30 -138 306 246 131 4.04 -279
Net Cash From Operating Activities		 2,125 -177 -206 403 173 143 426 -179 209 -179
Net Cash From Continuing Operating Activities		 2,125 -176 -206 403 173 143 426 -179 209 -179
Net Income / (Loss) Continuing Operations		 232 319 339 286 224 218 289 244 255 271
Consolidated Net Income / (Loss)		 232 319 339 286 224 218 289 244 255 271
Provision For Loan Losses		 4.09 1.74 3.35 4.49 4.01 4.10 2.67 6.93 3.90 5.48
Depreciation Expense		 52 54 56 58 65 68 67 71 78 92
Amortization Expense		 25 25 26 29 30 31 32 33 35 45
Non-Cash Adjustments to Reconcile Net Income		 37 1.61 77 70 73 43 96 113 101 81
Changes in Operating Assets and Liabilities, net		 1,775 -577 -707 -44 -223 -221 -61 -647 -265 -673
Net Cash From Investing Activities		 -106 -99 -351 -151 -156 -202 -130 -246 -181 -1,035
Net Cash From Continuing Investing Activities		 -106 -99 -351 -151 -156 -202 -130 -246 -181 -1,035
Purchase of Property, Leasehold Improvements and Equipment		 -82 -74 -101 -101 -95 -106 -121 -129 -147 -166
Purchase of Investment Securities		 -24 -26 -251 -51 -63 -97 -10 -119 -35 -861
Sale and/or Maturity of Investments		 1.25 1.25 1.75 1.25 1.25 1.25 1.25 1.25 1.25 1.25
Net Cash From Financing Activities		 -94 -167 -198 -221 -155 365 -50 557 -24 935
Net Cash From Continuing Financing Activities		 -94 -167 -198 -221 -155 365 -50 557 -24 935
Issuance of Debt		 - 350 135 472 139 1,721 245 1,033 - 2,170
Repayment of Debt		 -4.55 -353 -2.68 -323 -24 -1,113 -127 -456 -2.68 -1,123
Repurchase of Common Equity		 -75 -150 -275 -350 -250 -225 -70 - - -100
Payment of Dividends		 -20 -20 -24 -23 -23 -23 -22 -22 -22 -22
Other Financing Activities, Net		 5.92 5.95 -32 2.69 2.93 4.42 -76 1.67 1.00 10
Cash Interest Paid		 32 32 40 44 50 57 44 75 44 107
Cash Income Taxes Paid		 64 81 10 65 14 447 9.21 189 103 19

Annual Balance Sheets for LPL Financial

This table presents LPL Financial's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 4,521 4,835 5,359 5,477 5,880 6,596 7,992 9,482 10,385 13,317
Cash and Due from Banks		 725 748 811 511 590 809 495 848 466 967
Restricted Cash		 699 43 815 1,051 882 990 1,577 2,290 2,115 1,717
Trading Account Securities		 28 26 42 47 76 42 49 53 91 57
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Customer and Other Receivables		 339 341 344 413 434 405 579 562 589 634
Premises and Equipment, Net		 275 387 413 461 533 583 659 780 933 1,210
Goodwill		 1,366 1,366 1,428 1,490 1,504 1,514 1,642 1,642 1,857 2,173
Intangible Assets		 392 354 414 484 440 397 455 428 672 1,483
Other Assets		 697 1,570 1,092 1,019 1,422 1,855 2,535 2,880 3,663 5,076
Total Liabilities & Shareholders' Equity		 4,521 4,835 5,359 5,477 5,880 6,596 7,992 9,482 10,385 13,317
Total Liabilities		 3,805 4,014 4,394 4,503 4,856 5,281 6,321 7,315 8,307 10,387
Short-Term Debt		 795 927 1,017 1,027 1,151 1,624 1,882 2,843 2,430 2,028
Other Short-Term Payables		 332 - 461 479 558 309 384 449 486 588
Long-Term Debt		 2,188 2,175 2,385 2,372 2,399 2,345 2,814 2,717 3,734 5,495
Other Long-Term Liabilities		 489 912 530 626 749 1,003 1,241 1,306 1,657 2,276
Total Equity & Noncontrolling Interests		 716 821 965 974 1,024 1,315 1,671 2,168 2,079 2,931
Total Preferred & Common Equity		 716 821 965 974 1,024 1,315 1,671 2,168 2,079 2,931
Total Common Equity		 716 821 965 974 1,024 1,315 1,671 2,168 2,079 2,931
Common Stock		 1,418 1,445 1,556 1,634 1,704 1,763 1,842 1,913 1,988 2,066
Retained Earnings		 469 570 718 1,070 1,555 1,943 2,328 3,101 4,085 5,067
Treasury Stock		 -1,172 -1,195 -1,310 -1,731 -2,235 -2,391 -2,499 -2,847 -3,994 -4,202

Quarterly Balance Sheets for LPL Financial

This table presents LPL Financial's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 9,696 9,168 9,392 9,487 11,018 11,504 11,942
Cash and Due from Banks		 1,219 470 761 799 1,102 1,319 1,475
Restricted Cash		 2,360 1,913 1,652 1,476 1,725 1,640 1,488
Trading Account Securities		 62 51 50 53 57 90 111
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Customer and Other Receivables		 635 582 579 581 592 564 622
Premises and Equipment, Net		 751 816 850 883 987 1,066 1,145
Goodwill		 1,642 1,766 1,772 1,772 1,841 1,860 1,868
Intangible Assets		 428 580 606 641 691 783 782
Other Assets		 2,597 2,990 3,121 3,282 4,022 4,182 4,451
Total Liabilities & Shareholders' Equity		 9,696 9,168 9,392 9,487 11,018 11,504 11,942
Total Liabilities		 7,696 6,975 7,270 7,397 8,748 8,988 9,170
Short-Term Debt		 3,444 2,245 2,245 2,098 2,677 2,176 2,250
Other Short-Term Payables		 393 398 421 389 369 461 486
Long-Term Debt		 2,719 2,851 3,001 3,124 3,854 4,443 4,442
Other Long-Term Liabilities		 1,140 1,481 1,603 1,785 1,848 1,908 1,992
Total Equity & Noncontrolling Interests		 2,000 2,193 2,122 2,091 2,270 2,515 2,772
Total Preferred & Common Equity		 2,000 2,193 2,122 2,091 2,270 2,515 2,772
Total Common Equity		 2,000 2,193 2,122 2,091 2,270 2,515 2,772
Common Stock		 1,897 1,934 1,953 1,970 2,017 2,038 2,059
Retained Earnings		 2,800 3,419 3,683 3,887 4,354 4,579 4,815
Treasury Stock		 -2,697 -3,160 -3,514 -3,767 -4,101 -4,102 -4,102

Annual Metrics And Ratios for LPL Financial

This table displays calculated financial ratios and metrics derived from LPL Financial's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 94.14% -52.31% 4.57% 22.52% 5.91% 4.93% 32.09% 11.27% 18.62% 23.20%
EBITDA Growth		 1,081.47% -91.07% 17.73% 51.59% 21.88% -10.92% 3.61% 67.82% 28.58% 2.23%
EBIT Growth		 1,446.67% -93.47% 22.51% 62.56% 25.18% -15.60% -3.95% 84.87% 29.97% -3.59%
NOPAT Growth		 -5.20% 13.71% 24.45% 83.98% 27.40% -15.58% -2.70% 83.90% 26.08% -0.72%
Net Income Growth		 -5.20% 13.71% 24.45% 83.98% 27.40% -15.58% -2.70% 83.90% 26.08% -0.72%
EPS Growth		 -0.57% 22.41% 21.60% 87.26% 36.49% -11.48% -3.92% 84.72% 31.63% 2.48%
Operating Cash Flow Growth		 20.33% 39.18% 16.55% 28.30% 7.27% 26.62% -42.64% 329.36% -73.65% -45.85%
Free Cash Flow Firm Growth		 -286.18% 86.42% -541.03% 311.43% -17.14% -166.32% -161.26% 17.27% 207.04% -308.95%
Invested Capital Growth		 12.27% 6.05% 11.32% 0.13% 4.59% 15.54% 20.48% 21.37% 6.66% 26.82%
Revenue Q/Q Growth		 94.79% -51.08% 11.20% 30.17% 3.13% -17.78% 7.19% 2.44% 4.36% 10.76%
EBITDA Q/Q Growth		 995.10% -91.07% 4.61% 12.67% 0.84% -1.88% 0.74% 26.99% -5.50% 4.88%
EBIT Q/Q Growth		 1,333.38% -93.46% 6.16% 14.78% 0.34% -2.97% -1.52% 34.10% -7.99% 3.53%
NOPAT Q/Q Growth		 -11.41% 8.43% 10.33% 14.66% 1.15% -3.10% -0.75% 33.24% -8.69% 5.29%
Net Income Q/Q Growth		 -11.41% 8.43% 10.33% 14.66% 1.15% -3.10% -0.75% 33.24% -8.69% 5.29%
EPS Q/Q Growth		 -11.22% 9.79% 10.21% 15.48% 3.12% -2.82% -1.05% 33.50% -7.06% 5.17%
Operating Cash Flow Q/Q Growth		 29.10% 16.77% 80.99% 10.62% -30.32% 36.72% -13.84% -18.10% 164.93% -53.65%
Free Cash Flow Firm Q/Q Growth		 -237.93% 90.76% -4.68% 35.98% 97.26% -184.96% 4.87% 68.17% -72.67% -0.60%
Invested Capital Q/Q Growth		 15.11% 4.98% 5.25% 3.78% -0.25% 10.27% 7.73% -5.33% 12.71% 10.45%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 55.03% 10.30% 11.60% 14.35% 16.52% 14.02% 11.00% 16.59% 17.98% 14.92%
EBIT Margin		 53.68% 7.35% 8.61% 11.42% 13.50% 10.86% 7.90% 13.12% 14.37% 11.25%
Profit (Net Income) Margin		 1.99% 4.74% 5.64% 8.47% 10.19% 8.20% 6.04% 9.98% 10.61% 8.55%
Tax Burden Percent		 59.73% 64.51% 65.52% 74.15% 75.47% 75.49% 76.47% 76.08% 73.80% 76.00%
Interest Burden Percent		 6.20% 99.98% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 40.27% 35.49% 34.48% 25.85% 24.53% 24.51% 23.53% 23.92% 26.20% 24.00%
Return on Invested Capital (ROIC)		 4.83% 5.04% 5.76% 10.06% 12.52% 9.59% 7.89% 12.00% 13.35% 11.32%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.83% 5.04% 5.76% 10.06% 12.52% 9.59% 7.89% 12.00% 13.35% 11.32%
Return on Net Nonoperating Assets (RNNOA)		 15.18% 19.95% 20.99% 35.27% 43.53% 30.83% 22.91% 32.07% 36.86% 30.94%
Return on Equity (ROE)		 20.01% 24.98% 26.75% 45.33% 56.05% 40.42% 30.81% 44.07% 50.22% 42.26%
Cash Return on Invested Capital (CROIC)		 -6.74% -0.84% -4.95% 9.92% 8.03% -4.83% -10.69% -7.31% 6.90% -12.32%
Operating Return on Assets (OROA)		 106.45% 6.36% 7.15% 10.94% 13.06% 10.04% 8.24% 12.72% 14.54% 11.75%
Return on Assets (ROA)		 3.94% 4.10% 4.69% 8.11% 9.86% 7.58% 6.30% 9.68% 10.73% 8.93%
Return on Common Equity (ROCE)		 20.01% 24.98% 26.75% 45.33% 56.05% 40.42% 30.81% 44.07% 50.22% 42.26%
Return on Equity Simple (ROE_SIMPLE)		 23.59% 23.38% 24.75% 45.12% 54.68% 35.95% 27.53% 39.02% 51.29% 36.12%
Net Operating Profit after Tax (NOPAT)		 169 192 239 439 560 473 460 846 1,066 1,059
NOPAT Margin		 1.99% 4.74% 5.64% 8.47% 10.19% 8.20% 6.04% 9.98% 10.61% 8.55%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 42.10% 82.07% 81.25% 78.15% 78.91% 82.09% 84.94% 79.92% 76.39% 79.40%
Operating Expenses to Revenue		 46.32% 92.65% 91.39% 88.58% 86.50% 89.14% 92.10% 86.88% 85.63% 88.75%
Earnings before Interest and Taxes (EBIT)		 4,558 298 365 593 742 626 601 1,112 1,445 1,393
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 4,673 417 491 745 908 809 838 1,406 1,808 1,848
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 5.00 3.51 5.02 5.18 7.03 6.16 7.57 7.86 8.24 8.34
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 174.84 0.00 0.00
Price to Revenue (P/Rev)		 0.42 0.71 1.14 0.97 1.31 1.40 1.66 2.01 1.70 1.97
Price to Earnings (P/E)		 0.81 15.02 20.26 11.49 12.86 17.12 27.51 20.14 16.07 23.10
Dividend Yield		 2.66% 3.09% 1.86% 1.72% 1.12% 0.98% 0.63% 0.47% 0.53% 0.37%
Earnings Yield		 124.20% 6.66% 4.94% 8.70% 7.78% 5.84% 3.64% 4.97% 6.22% 4.33%
Enterprise Value to Invested Capital (EV/IC)		 1.39 1.32 1.52 1.57 2.03 1.94 2.40 2.52 2.51 2.80
Enterprise Value to Revenue (EV/Rev)		 0.61 1.28 1.56 1.33 1.69 1.78 2.01 2.30 2.06 2.36
Enterprise Value to EBITDA (EV/EBITDA)		 1.10 12.45 13.47 9.25 10.22 12.69 18.23 13.84 11.46 15.85
Enterprise Value to EBIT (EV/EBIT)		 1.13 17.45 18.15 11.62 12.51 16.39 25.40 17.50 14.34 21.03
Enterprise Value to NOPAT (EV/NOPAT)		 30.44 27.06 27.70 15.67 16.57 21.72 33.21 23.00 19.43 27.67
Enterprise Value to Operating Cash Flow (EV/OCF)		 18.39 13.35 14.60 11.84 14.87 12.99 33.71 10.00 40.41 105.51
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 15.88 25.82 0.00 0.00 0.00 37.57 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 4.17 3.78 3.53 3.49 3.47 3.02 2.81 2.57 2.96 2.57
Long-Term Debt to Equity		 3.06 2.65 2.47 2.43 2.34 1.78 1.68 1.25 1.80 1.87
Financial Leverage		 3.15 3.96 3.64 3.51 3.48 3.22 2.90 2.67 2.76 2.73
Leverage Ratio		 5.08 6.09 5.71 5.59 5.68 5.33 4.89 4.55 4.68 4.73
Compound Leverage Factor		 0.31 6.09 5.71 5.59 5.68 5.33 4.89 4.55 4.68 4.73
Debt to Total Capital		 80.66% 79.07% 77.90% 77.73% 77.61% 75.12% 73.76% 71.95% 74.78% 71.96%
Short-Term Debt to Total Capital		 21.50% 23.62% 23.29% 23.49% 25.16% 30.74% 29.56% 36.79% 29.48% 19.40%
Long-Term Debt to Total Capital		 59.15% 55.45% 54.61% 54.24% 52.45% 44.38% 44.20% 35.17% 45.30% 52.56%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 19.34% 20.93% 22.10% 22.27% 22.39% 24.88% 26.24% 28.05% 25.22% 28.04%
Debt to EBITDA		 0.64 7.43 6.93 4.56 3.91 4.91 5.61 3.95 3.41 4.07
Net Debt to EBITDA		 0.33 5.54 3.62 2.47 2.29 2.68 3.13 1.72 1.98 2.62
Long-Term Debt to EBITDA		 0.47 5.21 4.86 3.19 2.64 2.90 3.36 1.93 2.07 2.97
Debt to NOPAT		 17.68 16.16 14.24 7.73 6.34 8.40 10.21 6.57 5.78 7.11
Net Debt to NOPAT		 9.24 12.05 7.44 4.18 3.71 4.59 5.71 2.86 3.36 4.57
Long-Term Debt to NOPAT		 12.96 11.33 9.98 5.40 4.28 4.96 6.12 3.21 3.50 5.19
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -236 -32 -205 434 359 -238 -623 -515 551 -1,152
Operating Cash Flow to CapEx		 385.10% 304.70% 405.06% 438.31% 398.92% 507.90% 209.80% 634.57% 127.11% 49.35%
Free Cash Flow to Firm to Interest Expense		 -3.98 0.00 0.00 0.00 2.76 -2.25 -5.96 -4.08 0.00 0.00
Operating Cash Flow to Interest Expense		 4.73 0.00 0.00 0.00 4.80 7.47 4.34 15.41 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 3.50 0.00 0.00 0.00 3.60 6.00 2.27 12.98 0.00 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 1.98 0.87 0.83 0.96 0.97 0.92 1.04 0.97 1.01 1.05
Fixed Asset Turnover		 34.69 12.22 10.59 11.87 11.05 10.33 12.27 11.78 11.73 11.56
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 3,699 3,923 4,367 4,373 4,574 5,284 6,367 7,728 8,243 10,453
Invested Capital Turnover		 2.43 1.06 1.02 1.19 1.23 1.17 1.31 1.20 1.26 1.32
Increase / (Decrease) in Invested Capital		 404 224 444 5.82 201 711 1,082 1,361 515 2,211
Enterprise Value (EV)		 5,138 5,194 6,617 6,887 9,279 10,264 15,274 19,454 20,714 29,287
Market Capitalization		 3,578 2,882 4,840 5,050 7,201 8,093 12,650 17,031 17,132 24,449
Book Value per Share		 $7.53 $9.21 $10.70 $11.23 $12.67 $16.58 $20.84 $27.23 $27.49 $39.14
Tangible Book Value per Share		 ($10.97) ($10.08) ($9.72) ($11.54) ($11.38) ($7.52) ($5.33) $1.22 ($5.94) ($9.69)
Total Capital		 3,699 3,923 4,367 4,373 4,574 5,284 6,367 7,728 8,243 10,453
Total Debt		 2,984 3,102 3,402 3,399 3,550 3,970 4,696 5,560 6,164 7,523
Total Long-Term Debt		 2,188 2,175 2,385 2,372 2,399 2,345 2,814 2,717 3,734 5,495
Net Debt		 1,560 2,312 1,777 1,837 2,078 2,171 2,624 2,423 3,582 4,839
Capital Expenditures (CapEx)		 73 128 112 133 156 156 216 307 403 563
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 2,984 3,102 3,402 3,399 3,550 3,970 4,696 5,560 6,164 7,523
Total Depreciation and Amortization (D&A)		 115 120 127 152 166 182 236 294 363 455
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.77 $2.15 $2.65 $4.99 $6.78 $5.96 $5.75 $10.60 $13.88 $14.17
Adjusted Weighted Average Basic Shares Outstanding		 95.27M 89.07M 90.00M 88.12M 82.55M 79.24M 80.00M 79.80M 76.81M 74.71M
Adjusted Diluted Earnings per Share		 $1.74 $2.13 $2.59 $4.85 $6.62 $5.86 $5.63 $10.40 $13.69 $14.03
Adjusted Weighted Average Diluted Shares Outstanding		 96.79M 90.01M 92.12M 90.62M 84.62M 80.70M 81.74M 81.29M 77.86M 75.43M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $6.78 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 88.94M 90.07M 90.04M 84.45M 79.62M 79.68M 79.97M 78.67M 74.45M 74.57M
Normalized Net Operating Profit after Tax (NOPAT)		 176 192 239 439 562 473 479 846 1,204 1,267
Normalized NOPAT Margin		 2.07% 4.74% 5.64% 8.47% 10.23% 8.20% 6.28% 9.98% 11.98% 10.23%
Pre Tax Income Margin		 3.33% 7.35% 8.61% 11.42% 13.50% 10.86% 7.90% 13.12% 14.37% 11.25%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 77.07 0.00 0.00 0.00 5.71 5.92 5.76 8.81 0.00 0.00
NOPAT to Interest Expense		 2.85 0.00 0.00 0.00 4.31 4.47 4.40 6.70 0.00 0.00
EBIT Less CapEx to Interest Expense		 75.84 0.00 0.00 0.00 4.50 4.45 3.69 6.38 0.00 0.00
NOPAT Less CapEx to Interest Expense		 1.63 0.00 0.00 0.00 3.10 3.00 2.34 4.27 0.00 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 56.77% 46.41% 37.79% 20.11% 14.75% 16.74% 17.42% 9.44% 8.65% 8.48%
Augmented Payout Ratio		 288.33% 59.45% 85.41% 115.20% 104.12% 48.48% 36.99% 47.87% 111.82% 24.54%

Quarterly Metrics And Ratios for LPL Financial

This table displays calculated financial ratios and metrics derived from LPL Financial's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 6.83% 9.76% 17.05% 20.59% 18.43% 18.50% 14.67% 18.30% 20.55% 37.78%
EBITDA Growth		 92.02% 149.97% 118.07% 67.93% 7.67% -21.13% -10.08% -8.71% 11.85% 21.89%
EBIT Growth		 122.30% 206.99% 156.37% 83.13% 3.57% -29.92% -15.82% -15.11% 9.34% 16.17%
NOPAT Growth		 125.42% 195.22% 153.38% 77.84% -3.46% -31.82% -14.79% -14.61% 13.83% 24.45%
Net Income Growth		 125.42% 195.22% 153.38% 77.84% -3.46% -31.82% -14.79% -14.61% 13.83% 24.45%
EPS Growth		 126.98% 197.73% 158.54% 85.28% 1.75% -26.46% -9.67% -11.51% 16.49% 23.88%
Operating Cash Flow Growth		 722.20% -169.66% -174.13% 454.22% -91.85% 180.73% 306.83% -144.41% 20.88% -225.42%
Free Cash Flow Firm Growth		 -99.12% -6.91% 9.15% -156.60% 153.15% 71.45% -57.69% -76.21% -276.48% -552.34%
Invested Capital Growth		 38.12% 21.37% 18.05% 18.49% -10.41% 6.66% 20.74% 23.98% 29.41% 26.82%
Revenue Q/Q Growth		 5.96% 6.53% 6.56% 0.25% 4.06% 6.59% 8.72% 3.42% 6.04% 21.84%
EBITDA Q/Q Growth		 35.10% 30.07% 5.75% -9.63% -13.38% -4.73% 20.57% -8.25% 6.14% 3.82%
EBIT Q/Q Growth		 44.47% 36.67% 6.03% -12.53% -18.30% -7.52% 27.37% -11.79% 5.23% -1.75%
NOPAT Q/Q Growth		 44.71% 37.34% 6.21% -15.75% -21.44% -3.00% 32.73% -15.57% 4.72% 6.05%
Net Income Q/Q Growth		 44.71% 37.34% 6.21% -15.75% -21.44% -3.00% 32.73% -15.57% 4.72% 6.05%
EPS Q/Q Growth		 45.18% 37.41% 7.89% -13.92% -20.27% -0.69% 32.53% -15.67% 4.95% 5.60%
Operating Cash Flow Q/Q Growth		 2,823.17% -108.31% -16.62% 295.62% -57.01% -17.68% 198.78% -142.00% 217.03% -185.40%
Free Cash Flow Firm Q/Q Growth		 -499.88% 48.44% 25.55% -11.44% 224.26% -127.69% -311.23% -24.53% -24.45% -2.36%
Invested Capital Q/Q Growth		 31.28% -5.33% -5.68% 1.08% -0.74% 12.71% 6.77% 3.79% 3.60% 10.45%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 17.98% 21.95% 21.78% 19.64% 16.35% 14.61% 17.08% 15.15% 15.17% 12.92%
EBIT Margin		 14.40% 18.48% 18.38% 16.04% 12.59% 10.93% 13.50% 11.51% 11.42% 9.21%
Profit (Net Income) Margin		 10.91% 14.06% 14.02% 11.78% 8.89% 8.09% 10.42% 8.50% 8.40% 7.31%
Tax Burden Percent		 75.74% 76.11% 76.24% 73.43% 70.60% 74.05% 77.17% 73.86% 73.50% 79.33%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 24.26% 23.89% 23.76% 26.57% 29.40% 25.95% 22.83% 26.14% 26.50% 20.67%
Return on Invested Capital (ROIC)		 12.82% 16.91% 18.38% 16.02% 11.07% 10.19% 13.23% 10.99% 11.19% 9.68%
ROIC Less NNEP Spread (ROIC-NNEP)		 12.82% 16.91% 18.38% 16.02% 11.07% 10.19% 13.23% 10.99% 11.19% 9.68%
Return on Net Nonoperating Assets (RNNOA)		 37.09% 45.19% 44.62% 38.86% 30.82% 28.12% 34.47% 28.12% 27.43% 26.45%
Return on Equity (ROE)		 49.91% 62.10% 62.99% 54.89% 41.89% 38.31% 47.71% 39.10% 38.62% 36.14%
Cash Return on Invested Capital (CROIC)		 -23.00% -7.31% -0.94% 0.38% 26.07% 6.90% -6.16% -9.60% -13.65% -12.32%
Operating Return on Assets (OROA)		 13.81% 17.92% 19.16% 17.31% 12.65% 11.06% 13.67% 11.75% 11.92% 9.63%
Return on Assets (ROA)		 10.46% 13.64% 14.61% 12.71% 8.93% 8.19% 10.55% 8.68% 8.76% 7.64%
Return on Common Equity (ROCE)		 49.91% 62.10% 62.99% 54.89% 41.89% 38.31% 47.71% 39.10% 38.62% 36.14%
Return on Equity Simple (ROE_SIMPLE)		 31.74% 0.00% 47.92% 55.41% 55.86% 0.00% 44.77% 38.74% 36.27% 0.00%
Net Operating Profit after Tax (NOPAT)		 232 319 339 286 224 218 289 244 255 271
NOPAT Margin		 10.91% 14.06% 14.02% 11.78% 8.89% 8.09% 10.42% 8.50% 8.40% 7.31%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 78.86% 75.93% 73.63% 77.09% 77.10% 77.56% 80.09% 80.84% 81.13% 76.36%
Operating Expenses to Revenue		 85.60% 81.52% 81.62% 83.96% 87.41% 89.07% 86.50% 88.49% 88.58% 90.79%
Earnings before Interest and Taxes (EBIT)		 307 419 444 389 318 294 374 330 347 341
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 383 498 527 476 412 393 474 434 461 479
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 8.63 7.86 7.20 7.91 8.63 8.24 8.78 8.28 6.27 8.34
Price to Tangible Book Value (P/TBV)		 0.00 174.84 0.00 0.00 0.00 0.00 0.00 0.00 143.58 0.00
Price to Revenue (P/Rev)		 2.09 2.01 1.79 1.82 1.87 1.70 1.95 1.95 1.56 1.97
Price to Earnings (P/E)		 27.18 20.14 15.03 14.27 15.45 16.07 19.61 21.38 17.30 23.10
Dividend Yield		 0.46% 0.47% 0.52% 0.62% 0.49% 0.53% 0.46% 0.43% 0.52% 0.37%
Earnings Yield		 3.68% 4.97% 6.65% 7.01% 6.47% 6.22% 5.10% 4.68% 5.78% 4.33%
Enterprise Value to Invested Capital (EV/IC)		 2.43 2.52 2.54 2.66 2.87 2.51 2.69 2.68 2.23 2.80
Enterprise Value to Revenue (EV/Rev)		 2.40 2.30 2.10 2.12 2.18 2.06 2.31 2.30 1.89 2.36
Enterprise Value to EBITDA (EV/EBITDA)		 17.92 13.84 10.95 10.41 10.97 11.46 13.47 14.30 11.99 15.85
Enterprise Value to EBIT (EV/EBIT)		 23.93 17.50 13.39 12.58 13.37 14.34 17.19 18.62 15.70 21.03
Enterprise Value to NOPAT (EV/NOPAT)		 31.25 23.00 17.61 16.68 17.97 19.43 23.25 25.14 21.01 27.67
Enterprise Value to Operating Cash Flow (EV/OCF)		 8.35 10.00 10.20 9.14 108.47 40.41 20.65 43.53 35.27 105.51
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 752.81 10.40 37.57 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 3.08 2.57 2.32 2.47 2.50 2.96 2.88 2.63 2.41 2.57
Long-Term Debt to Equity		 1.36 1.25 1.30 1.41 1.49 1.80 1.70 1.77 1.60 1.87
Financial Leverage		 2.89 2.67 2.43 2.43 2.78 2.76 2.61 2.56 2.45 2.73
Leverage Ratio		 4.77 4.55 4.31 4.32 4.69 4.68 4.52 4.51 4.41 4.73
Compound Leverage Factor		 4.77 4.55 4.31 4.32 4.69 4.68 4.52 4.51 4.41 4.73
Debt to Total Capital		 75.51% 71.95% 69.91% 71.20% 71.41% 74.78% 74.21% 72.46% 70.71% 71.96%
Short-Term Debt to Total Capital		 42.19% 36.79% 30.80% 30.47% 28.69% 29.48% 30.42% 23.83% 23.78% 19.40%
Long-Term Debt to Total Capital		 33.31% 35.17% 39.11% 40.73% 42.72% 45.30% 43.79% 48.64% 46.94% 52.56%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 24.50% 28.05% 30.09% 28.80% 28.59% 25.22% 25.79% 27.54% 29.29% 28.04%
Debt to EBITDA		 5.57 3.95 3.01 2.79 2.73 3.41 3.72 3.86 3.80 4.07
Net Debt to EBITDA		 2.33 1.72 1.60 1.50 1.54 1.98 2.11 2.14 2.12 2.62
Long-Term Debt to EBITDA		 2.46 1.93 1.69 1.59 1.63 2.07 2.20 2.59 2.52 2.97
Debt to NOPAT		 9.71 6.57 4.85 4.46 4.47 5.78 6.43 6.79 6.66 7.11
Net Debt to NOPAT		 4.07 2.86 2.58 2.41 2.52 3.36 3.64 3.76 3.71 4.57
Long-Term Debt to NOPAT		 4.28 3.21 2.71 2.55 2.68 3.50 3.79 4.56 4.42 5.19
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -2,020 -1,042 -776 -864 1,074 -297 -1,223 -1,523 -1,895 -1,940
Operating Cash Flow to CapEx		 2,579.32% -237.27% -203.37% 398.26% 182.21% 134.67% 351.91% -138.74% 142.34% -108.01%
Free Cash Flow to Firm to Interest Expense		 -60.88 -16.20 0.00 -19.27 0.00 0.00 -20.35 -23.67 -27.96 0.00
Operating Cash Flow to Interest Expense		 64.02 -2.75 0.00 8.98 0.00 0.00 7.09 -2.78 3.09 0.00
Operating Cash Flow Less CapEx to Interest Expense		 61.54 -3.90 0.00 6.73 0.00 0.00 5.07 -4.78 0.92 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.96 0.97 1.04 1.08 1.00 1.01 1.01 1.02 1.04 1.05
Fixed Asset Turnover		 12.02 11.78 11.75 11.72 11.78 11.73 11.33 11.13 11.03 11.56
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 8,163 7,728 7,289 7,368 7,313 8,243 8,801 9,135 9,464 10,453
Invested Capital Turnover		 1.18 1.20 1.31 1.36 1.24 1.26 1.27 1.29 1.33 1.32
Increase / (Decrease) in Invested Capital		 2,253 1,361 1,114 1,150 -850 515 1,512 1,767 2,151 2,211
Enterprise Value (EV)		 19,834 19,454 18,509 19,611 20,987 20,714 23,630 24,495 21,121 29,287
Market Capitalization		 17,250 17,031 15,796 16,779 18,039 17,132 19,926 20,835 17,392 24,449
Book Value per Share		 $25.07 $27.23 $27.87 $27.32 $27.40 $27.49 $30.44 $33.67 $37.07 $39.14
Tangible Book Value per Share		 ($0.89) $1.22 ($1.95) ($3.30) ($4.23) ($5.94) ($3.51) ($1.71) $1.62 ($9.69)
Total Capital		 8,163 7,728 7,289 7,368 7,313 8,243 8,801 9,135 9,464 10,453
Total Debt		 6,163 5,560 5,096 5,246 5,223 6,164 6,531 6,619 6,692 7,523
Total Long-Term Debt		 2,719 2,717 2,851 3,001 3,124 3,734 3,854 4,443 4,442 5,495
Net Debt		 2,584 2,423 2,713 2,833 2,948 3,582 3,704 3,661 3,729 4,839
Capital Expenditures (CapEx)		 82 74 101 101 95 106 121 129 147 166
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 6,163 5,560 5,096 5,246 5,223 6,164 6,531 6,619 6,692 7,523
Total Depreciation and Amortization (D&A)		 76 79 82 87 95 99 99 104 114 137
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.91 $4.01 $4.30 $3.70 $2.95 $2.93 $3.87 $3.26 $3.41 $3.63
Adjusted Weighted Average Basic Shares Outstanding		 79.81M 79.80M 78.75M 77.23M 76.06M 76.81M 74.56M 74.73M 74.78M 74.71M
Adjusted Diluted Earnings per Share		 $2.86 $3.93 $4.24 $3.65 $2.91 $2.89 $3.83 $3.23 $3.39 $3.58
Adjusted Weighted Average Diluted Shares Outstanding		 81.25M 81.29M 79.97M 78.19M 77.15M 77.86M 75.46M 75.55M 75.41M 75.43M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 79.60M 78.67M 77.67M 76.30M 75.62M 74.45M 74.71M 74.76M 74.88M 74.57M
Normalized Net Operating Profit after Tax (NOPAT)		 232 319 369 286 258 218 289 244 255 271
Normalized NOPAT Margin		 10.91% 14.06% 15.25% 11.78% 10.25% 8.09% 10.42% 8.50% 8.40% 7.31%
Pre Tax Income Margin		 14.40% 18.48% 18.38% 16.04% 12.59% 10.93% 13.50% 11.51% 11.42% 9.21%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 9.24 6.52 0.00 8.67 0.00 0.00 6.23 5.13 5.12 0.00
NOPAT to Interest Expense		 7.00 4.96 0.00 6.37 0.00 0.00 4.81 3.79 3.77 0.00
EBIT Less CapEx to Interest Expense		 6.76 5.36 0.00 6.42 0.00 0.00 4.21 3.13 2.96 0.00
NOPAT Less CapEx to Interest Expense		 4.52 3.81 0.00 4.11 0.00 0.00 2.79 1.79 1.60 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 12.60% 9.44% 7.94% 7.36% 7.66% 8.65% 8.96% 9.27% 8.94% 8.48%
Augmented Payout Ratio		 48.05% 47.87% 60.28% 79.66% 95.44% 111.82% 97.04% 65.20% 38.28% 24.54%

Key Financial Trends

Analyzing LPL Financial Holdings Inc. (NASDAQ: LPLA) financial data over the last four years reveals several key trends and notable points that retail investors should consider.

  • Consistent Growth in Total Revenue: Total revenue has shown a steady increase each quarter with Q4 2024 reporting $3.7 billion, up from $2.3 billion in Q4 2022, indicating growth in the firm's business and operations.
  • Rising Net Income: Net income has increased from $319 million in Q4 2022 to $271 million in Q4 2024, with quarterly net incomes generally trending upwards, reflecting improved profitability.
  • Steady Earnings Per Share (EPS) Growth: Basic EPS increased from $4.01 in Q4 2022 to $3.63 in Q4 2024, showing resilience notwithstanding share count changes and implying good returns for shareholders.
  • Increasing Non-Interest Income: Investment banking income and trust fees have grown significantly, with investment banking income reaching over $1.6 billion in Q4 2024, a major driver of revenue growth.
  • Effective Capital Management: The company has been actively managing its capital structure, issuing and repaying debt while repurchasing common equity, indicating confidence and strategies to enhance shareholder value.
  • Interest Expense Volatility: Total interest expense fluctuated significantly, from $64 million in Q2 2024 to a high of $192 million in Q4 2024, reflecting changes in debt levels and interest rates.
  • Substantial Capital Expenditures: LPL Financial consistently invests heavily in property, equipment, and securities across quarters, implying ongoing reinvestment in business capabilities.
  • Operating Cash Flow Fluctuations: Net cash from operating activities has varied widely from negative $178 million in Q4 2024 to a positive $425 million in Q1 2024, showing operational cash generation variances that merit monitoring.
  • Share Count Changes: Weighted average shares outstanding have shifted somewhat quarter to quarter, primarily due to share repurchases, which affects EPS calculations.
  • Rising Operating Expenses: Salaries, employee benefits, and marketing expenses have grown consistently, from ~$1.57 billion in Q4 2022 to over $2.57 billion in Q4 2024, potentially pressuring profit margins.
  • Negative Operating Cash Flow in Recent Quarter: Q4 2024 saw negative operating cash flow of approximately $179 million, which could suggest higher working capital needs or operational inefficiencies.
  • Increased Debt Levels: Long-term and short-term debt increased year-over-year, with total liabilities rising from around $7.3 billion in Q2 2023 to $9.17 billion in Q3 2024, potentially increasing financial risk.
  • Fluctuating Net Interest Income: The net interest income has shown swings, even turning negative in some quarters, which can impact earnings stability given the firm’s reliance on fee and interest income.

Summary: LPL Financial demonstrates steady revenue and net income growth with strong investment banking and fee-based income streams propelling results. However, rising operating costs and increasing debt levels require careful monitoring. Cash flow from operations has fluctuated, highlighting the importance of efficient working capital management going forward. Investors may view ongoing share repurchases and dividend payments positively but should remain aware of risks related to expense growth and financing structure.

08/02/25 03:42 AMAI Generated. May Contain Errors.

Frequently Asked Questions About LPL Financial's Financials

When does LPL Financial's financial year end?

According to the most recent income statement we have on file, LPL Financial's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has LPL Financial's net income changed over the last 9 years?

LPL Financial's net income appears to be on an upward trend, with a most recent value of $1.06 billion in 2024, rising from $168.78 million in 2015. The previous period was $1.07 billion in 2023. See where experts think LPL Financial is headed by visiting LPL Financial's forecast page.

How has LPL Financial's revenue changed over the last 9 years?

Over the last 9 years, LPL Financial's total revenue changed from $8.49 billion in 2015 to $12.39 billion in 2024, a change of 45.9%.

How much debt does LPL Financial have?

LPL Financial's total liabilities were at $10.39 billion at the end of 2024, a 25.0% increase from 2023, and a 172.9% increase since 2015.

How much cash does LPL Financial have?

In the past 9 years, LPL Financial's cash and equivalents has ranged from $465.67 million in 2023 to $967.08 million in 2024, and is currently $967.08 million as of their latest financial filing in 2024.

How has LPL Financial's book value per share changed over the last 9 years?

Over the last 9 years, LPL Financial's book value per share changed from 7.53 in 2015 to 39.14 in 2024, a change of 419.5%.


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This page (NASDAQ:LPLA) was last updated on 8/2/2025 by MarketBeat.com Staff
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