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LPL Financial (LPLA) Financials

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$278.22 +4.45 (+1.62%)
As of 01:47 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 2025
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 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 4,444 192 239 439 560 473 460 846 1,066 1,059 863
Consolidated Net Income / (Loss)		 169 192 239 439 560 473 460 846 1,066 1,059 863
Net Income / (Loss) Continuing Operations		 4,444 192 239 439 560 473 460 846 1,066 1,059 863
Total Pre-Tax Income 		283 298 365 593 742 626 601 1,112 1,445 1,393 1,150
Total Revenue		 8,491 4,049 4,235 5,188 5,495 5,766 7,616 8,475 10,053 12,111 16,989
Net Interest Income / (Expense)		 -59 0.00 0.00 0.00 -130 -106 -104 -126 0.00 -274 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 0.00
Total Interest Expense		 59 0.00 0.00 0.00 130 106 104 126 0.00 274 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 16,989
Trust Fees by Commissions		 1,977 1,737 1,671 1,920 1,892 1,907 2,379 2,326 2,553 3,305 4,505
Other Service Charges		 946 2,312 2,586 1,475 1,703 1,608 1,788 2,322 3,205 3,430 4,092
Investment Banking Income		 1,352 - - 1,793 1,983 2,328 3,525 3,875 4,136 5,462 8,161
Other Non-Interest Income		 4,275 - - - 47 29 29 77 159 188 232
Total Non-Interest Expense		 3,933 3,752 3,870 4,596 4,753 5,140 7,015 7,363 8,608 10,718 15,840
Salaries and Employee Benefits		 3,305 3,037 3,127 3,684 3,944 4,306 5,921 6,146 6,895 8,888 12,790
Net Occupancy & Equipment Expense		 131 137 142 162 186 219 246 287 324 357 663
Marketing Expense		 139 149 172 209 206 208 302 340 459 589 737
Other Operating Expenses		 235 315 307 393 253 229 291 303 388 440 616
Depreciation Expense		 73 76 84 88 96 110 151 200 247 309 393
Amortization Expense		 38 38 38 60 65 67 79 88 107 135 237
Other Special Charges		 - 0.00 - 0.00 3.16 0.00 24 - 187 - 403
Income Tax Expense		 114 106 126 153 182 153 141 266 379 334 286
Basic Earnings per Share		 $1.77 $2.15 $2.65 $4.99 $6.78 $5.96 $5.75 $10.60 $13.88 $14.17 $10.97
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 78.68M
Diluted Earnings per Share		 $1.74 $2.13 $2.59 $4.85 $6.62 $5.86 $5.63 $10.40 $13.69 $14.03 $10.92
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 79.06M
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 80.08M
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 $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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 224 218 289 244 255 271 319 273 -30 301 356
Consolidated Net Income / (Loss)		 224 218 289 244 255 271 319 273 -30 301 356
Net Income / (Loss) Continuing Operations		 224 218 289 244 255 271 319 273 -30 301 356
Total Pre-Tax Income 		318 294 374 330 347 341 417 369 -34 398 485
Total Revenue		 2,522 2,689 2,773 2,867 3,041 3,705 3,584 3,729 4,552 5,124 4,838
Net Interest Income / (Expense)		 0.00 7.48 -60 -64 -68 192 -86 -106 0.00 191 -100
Total Interest Income		 0.00 -37 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Interest Expense		 0.00 -45 60 64 68 -192 86 106 0.00 -191 100
Long-Term Debt Interest Expense		 - - 60 64 68 - 86 106 - - 100
Total Non-Interest Income		 2,522 2,681 2,833 2,932 3,108 3,512 3,670 3,835 4,552 4,932 4,938
Trust Fees by Commissions		 644 682 746 787 807 965 1,048 1,038 1,187 1,232 1,192
Other Service Charges		 756 833 843 809 874 904 889 1,002 1,093 1,107 1,086
Investment Banking Income		 1,082 1,085 1,200 1,288 1,378 1,596 1,689 1,718 2,210 2,544 2,615
Other Non-Interest Income		 41 - 44 47 50 47 44 77 61 50 45
Total Non-Interest Expense		 2,205 2,395 2,398 2,537 2,693 3,363 3,167 3,361 4,586 4,726 4,354
Salaries and Employee Benefits		 1,732 1,879 2,008 2,093 2,214 2,572 2,659 2,802 3,611 3,718 3,660
Net Occupancy & Equipment Expense		 81 80 86 89 88 94 97 103 323 141 142
Marketing Expense		 132 127 127 136 165 162 146 178 209 205 208
Other Operating Expenses		 119 114 81 118 116 126 129 136 173 178 170
Depreciation Expense		 65 68 67 71 78 92 92 96 100 105 106
Amortization Expense		 28 29 30 31 32 43 44 46 65 82 67
Income Tax Expense		 93 76 85 86 92 71 99 96 -4.59 97 128
Basic Earnings per Share		 $2.95 $2.93 $3.87 $3.26 $3.41 $3.63 $4.27 $3.42 ($0.37) $3.65 $4.45
Weighted Average Basic Shares Outstanding		 76.06M 76.81M 74.56M 74.73M 74.78M 74.71M 74.60M 79.98M 80.02M 78.68M 80.11M
Diluted Earnings per Share		 $2.91 $2.89 $3.83 $3.23 $3.39 $3.58 $4.24 $3.40 ($0.37) $3.65 $4.43
Weighted Average Diluted Shares Outstanding		 77.15M 77.86M 75.46M 75.55M 75.41M 75.43M 75.11M 80.37M 80.36M 79.06M 80.45M
Weighted Average Basic & Diluted Shares Outstanding		 75.62M 74.45M 74.71M 74.76M 74.88M 74.57M 79.98M 80.00M 80.04M 80.08M 79.98M
Cash Dividends to Common per Share		 $0.30 - $0.30 $0.30 - - $0.30 $0.30 - - $0.30

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 2025
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 12/31/2025
Net Change in Cash & Equivalents		 312 135 67 -64 -90 327 273 1,065 -556 103 371
Net Cash From Operating Activities		 279 389 453 582 624 790 453 1,946 513 278 -411
Net Cash From Continuing Operating Activities		 279 389 453 582 624 790 453 1,946 513 278 -411
Net Income / (Loss) Continuing Operations		 169 192 239 439 560 473 460 846 1,066 1,059 863
Consolidated Net Income / (Loss)		 169 192 239 439 560 473 460 846 1,066 1,059 863
Provision For Loan Losses		 2.54 4.06 2.79 6.11 6.70 5.82 9.17 14 16 19 17
Depreciation Expense		 73 76 84 88 96 110 151 200 247 309 393
Amortization Expense		 42 44 43 64 70 73 85 94 116 147 258
Non-Cash Adjustments to Reconcile Net Income		 34 56 87 104 98 111 228 154 263 391 655
Changes in Operating Assets and Liabilities, net		 -41 18 -1.92 -120 -207 18 -481 638 -1,195 -1,646 -2,598
Net Cash From Investing Activities		 -75 -127 -438 -162 -181 -187 -459 -376 -860 -1,592 -2,387
Net Cash From Continuing Investing Activities		 -75 -127 -438 -162 -181 -187 -459 -376 -860 -1,592 -2,394
Purchase of Property, Leasehold Improvements and Equipment		 -73 -128 -112 -133 -156 -156 -216 -307 -403 -563 -570
Purchase of Investment Securities		 -4.60 -4.02 -329 -34 -30 -37 -248 -75 -462 -1,025 -1,822
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 5.10
Other Investing Activities, net		 -1.14 - - - - - - 0.00 0.00 -9.61 -6.83
Net Cash From Financing Activities		 108 -127 51 -483 -533 -275 279 -504 -209 1,417 3,169
Net Cash From Continuing Financing Activities		 108 -127 51 -483 -533 -275 279 -504 -209 1,417 3,169
Issuance of Debt		 1,149 0.00 2,612 0.00 923 1,806 2,859 815 2,467 3,448 3,573
Issuance of Common Equity		 - - - - - - - - 0.00 0.00 1,725
Repayment of Debt		 -588 -18 -2,429 -15 -907 -1,862 -2,422 -918 -1,462 -1,708 -1,875
Repurchase of Common Equity		 -391 -25 -114 -418 -500 -150 -90 -325 -1,100 -170 -100
Payment of Dividends		 -96 -89 -90 -88 -83 -79 -80 -80 -92 -90 -94
Other Financing Activities, Net		 34 4.41 73 38 34 9.65 11 3.17 -22 -63 -60
Cash Interest Paid		 51 92 93 124 127 107 104 119 191 268 380
Cash Income Taxes Paid		 132 123 139 122 213 169 145 238 536 320 329

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -138 306 246 131 4.04 -279 171 3,059 -3,092 234 -149
Net Cash From Operating Activities		 173 143 426 -179 209 -179 340 193 -1,730 785 290
Net Cash From Continuing Operating Activities		 173 143 426 -179 209 -179 340 193 -1,730 785 290
Net Income / (Loss) Continuing Operations		 224 218 289 244 255 271 319 273 -30 301 356
Consolidated Net Income / (Loss)		 224 218 289 244 255 271 319 273 -30 301 356
Provision For Loan Losses		 4.01 4.10 2.67 6.93 3.90 5.48 -0.75 3.94 5.76 8.03 8.50
Depreciation Expense		 65 68 67 71 78 92 92 96 100 105 106
Amortization Expense		 30 31 32 33 35 45 51 53 68 86 71
Non-Cash Adjustments to Reconcile Net Income		 73 43 96 113 101 81 119 121 129 287 146
Changes in Operating Assets and Liabilities, net		 -223 -221 -61 -647 -265 -673 -240 -354 -2,002 -1.83 -397
Net Cash From Investing Activities		 -156 -202 -130 -246 -181 -1,035 -199 -250 -1,684 -253 -312
Net Cash From Continuing Investing Activities		 -156 -202 -130 -246 -181 -1,035 -199 -250 -1,684 -261 -312
Purchase of Property, Leasehold Improvements and Equipment		 -95 -106 -121 -129 -147 -166 -119 -137 -142 -172 -166
Purchase of Investment Securities		 -63 -97 -10 -119 -35 -861 -80 -113 -1,541 -88 -145
Sale and/or Maturity of Investments		 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.35 1.25 1.25
Other Investing Activities, net		 - - 0.00 - - - -1.43 -1.61 -1.47 -2.32 -2.30
Net Cash From Financing Activities		 -155 365 -50 557 -24 935 30 3,116 321 -298 -128
Net Cash From Continuing Financing Activities		 -155 365 -50 557 -24 935 30 3,116 321 -298 -128
Issuance of Debt		 139 1,721 245 1,033 - 2,170 1,317 1,497 544 215 295
Repayment of Debt		 -24 -1,113 -127 -456 -2.68 -1,123 -1,135 -12 -200 -528 -374
Repurchase of Common Equity		 -250 -225 -70 - - -100 -100 0.24 - - 0.00
Payment of Dividends		 -23 -23 -22 -22 -22 -22 -22 -24 -24 -24 -24
Other Financing Activities, Net		 2.93 4.42 -76 1.67 1.00 10 -29 -70 0.61 39 -25
Cash Interest Paid		 50 57 44 75 44 107 54 105 79 142 72
Cash Income Taxes Paid		 14 447 9.21 189 103 19 8.99 294 11 14 12

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 2025
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 12/31/2025
Total Assets		 4,521 4,835 5,359 5,477 5,880 6,596 7,992 9,482 10,385 13,317 18,493
Cash and Due from Banks		 725 748 811 511 590 809 495 848 466 967 1,037
Restricted Cash		 699 43 815 1,051 882 990 1,577 2,290 2,115 1,717 2,017
Trading Account Securities		 28 26 42 47 76 42 49 53 91 57 92
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 0.00
Customer and Other Receivables		 339 341 344 413 434 405 579 562 589 634 803
Premises and Equipment, Net		 275 387 413 461 533 583 659 780 933 1,210 1,409
Goodwill		 1,366 1,366 1,428 1,490 1,504 1,514 1,642 1,642 1,857 2,173 2,645
Intangible Assets		 392 354 414 484 440 397 455 428 672 1,483 3,331
Other Assets		 697 1,570 1,092 1,019 1,422 1,855 2,535 2,880 3,663 5,076 7,158
Total Liabilities & Shareholders' Equity		 4,521 4,835 5,359 5,477 5,880 6,596 7,992 9,482 10,385 13,317 18,493
Total Liabilities		 3,805 4,014 4,394 4,503 4,856 5,281 6,321 7,315 8,307 10,387 13,148
Short-Term Debt		 795 927 1,017 1,027 1,151 1,624 1,882 2,843 2,430 2,028 2,459
Other Short-Term Payables		 332 - 461 479 558 309 384 449 486 588 822
Long-Term Debt		 2,188 2,175 2,385 2,372 2,399 2,345 2,814 2,717 3,734 5,495 7,259
Other Long-Term Liabilities		 489 912 530 626 749 1,003 1,241 1,306 1,657 2,276 2,609
Total Equity & Noncontrolling Interests		 716 821 965 974 1,024 1,315 1,671 2,168 2,079 2,931 5,344
Total Preferred & Common Equity		 716 821 965 974 1,024 1,315 1,671 2,168 2,079 2,931 5,344
Total Common Equity		 716 821 965 974 1,024 1,315 1,671 2,168 2,079 2,931 5,344
Common Stock		 1,418 1,445 1,556 1,634 1,704 1,763 1,842 1,913 1,988 2,066 3,843
Retained Earnings		 469 570 718 1,070 1,555 1,943 2,328 3,101 4,085 5,067 5,835
Treasury Stock		 -1,172 -1,195 -1,310 -1,731 -2,235 -2,391 -2,499 -2,847 -3,994 -4,202 -4,334

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 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 9,696 9,168 9,392 9,487 11,018 11,504 11,942 13,963 17,474 18,032 18,835
Cash and Due from Banks		 1,219 470 761 799 1,102 1,319 1,475 1,229 4,185 1,344 1,024
Restricted Cash		 2,360 1,913 1,652 1,476 1,725 1,640 1,488 1,625 1,728 1,477 1,881
Trading Account Securities		 62 51 50 53 57 90 111 138 140 215 100
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 0.00
Customer and Other Receivables		 635 582 579 581 592 564 622 614 710 778 867
Premises and Equipment, Net		 751 816 850 883 987 1,066 1,145 1,238 1,279 1,339 1,468
Goodwill		 1,642 1,766 1,772 1,772 1,841 1,860 1,868 2,213 2,213 2,675 2,659
Intangible Assets		 428 580 606 641 691 783 782 1,571 1,641 3,303 3,414
Other Assets		 2,597 2,990 3,121 3,282 4,022 4,182 4,451 5,335 5,577 6,902 7,422
Total Liabilities & Shareholders' Equity		 9,696 9,168 9,392 9,487 11,018 11,504 11,942 13,963 17,474 18,032 18,835
Total Liabilities		 7,696 6,975 7,270 7,397 8,748 8,988 9,170 10,839 12,399 12,989 13,150
Short-Term Debt		 3,444 2,245 2,245 2,098 2,677 2,176 2,250 2,297 2,364 2,192 2,425
Other Short-Term Payables		 393 398 421 389 369 461 486 480 556 768 745
Long-Term Debt		 2,719 2,851 3,001 3,124 3,854 4,443 4,442 5,687 7,175 7,521 7,182
Other Long-Term Liabilities		 1,140 1,481 1,603 1,785 1,848 1,908 1,992 2,376 2,304 2,507 2,798
Total Equity & Noncontrolling Interests		 2,000 2,193 2,122 2,091 2,270 2,515 2,772 3,124 5,074 5,043 5,686
Total Preferred & Common Equity		 2,000 2,193 2,122 2,091 2,270 2,515 2,772 3,124 5,074 5,043 5,686
Total Common Equity		 2,000 2,193 2,122 2,091 2,270 2,515 2,772 3,124 5,074 5,043 5,686
Common Stock		 1,897 1,934 1,953 1,970 2,017 2,038 2,059 2,089 3,787 3,807 3,871
Retained Earnings		 2,800 3,419 3,683 3,887 4,354 4,579 4,815 5,366 5,620 5,570 6,167
Treasury Stock		 -2,697 -3,160 -3,514 -3,767 -4,101 -4,102 -4,102 -4,332 -4,332 -4,333 -4,352

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 2025
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 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
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 $10.97
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 78.68M
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 $10.92
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 79.06M
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 $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 80.08M
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 80,080,181.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 80,080,181.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 4.45
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 18.43% 18.50% 14.67% 18.30% 20.55% 37.78% 29.27% 30.06% 49.71% - 34.99%
EBITDA Growth		 7.67% -21.13% -10.08% -8.71% 11.85% 21.89% 18.46% 19.19% -70.98% - 17.83%
EBIT Growth		 3.57% -29.92% -15.82% -15.11% 9.34% 16.17% 11.51% 11.73% -109.82% - 16.14%
NOPAT Growth		 -3.46% -31.82% -14.79% -14.61% 13.83% 24.45% 10.32% 12.08% -109.35% - 11.88%
Net Income Growth		 -3.46% -31.82% -14.79% -14.61% 13.83% 24.45% 10.32% 12.08% -111.56% - 11.88%
EPS Growth		 1.75% -26.46% -9.67% -11.51% 16.49% 23.88% 10.71% 5.26% -110.91% - 4.48%
Operating Cash Flow Growth		 -91.85% 180.73% 306.83% -144.41% 20.88% -225.42% -20.21% 208.07% -926.20% - -14.54%
Free Cash Flow Firm Growth		 153.15% 71.45% -57.69% -76.21% -276.48% -552.34% -62.61% -241.83% -180.53% - -92.52%
Invested Capital Growth		 -10.41% 6.66% 20.74% 23.98% 29.41% 26.82% 26.21% 59.98% 55.93% - 37.67%
Revenue Q/Q Growth		 4.06% 6.59% 8.72% 3.42% 6.04% 21.84% -3.25% 4.05% 22.06% - -5.58%
EBITDA Q/Q Growth		 -13.38% -4.73% 20.57% -8.25% 6.14% 3.82% 17.18% -7.69% -74.16% - 12.34%
EBIT Q/Q Growth		 -18.30% -7.52% 27.37% -11.79% 5.23% -1.75% 22.26% -11.61% -109.25% - 21.89%
NOPAT Q/Q Growth		 -21.44% -3.00% 32.73% -15.57% 4.72% 6.05% 17.66% -14.23% -108.74% - 18.52%
Net Income Q/Q Growth		 -21.44% -3.00% 32.73% -15.57% 4.72% 6.05% 17.66% -14.23% -110.80% - 18.52%
EPS Q/Q Growth		 -20.27% -0.69% 32.53% -15.67% 4.95% 5.60% 18.44% -19.81% -110.88% - 21.37%
Operating Cash Flow Q/Q Growth		 -57.01% -17.68% 198.78% -142.00% 217.03% -185.40% 290.07% -43.12% -994.74% - -63.01%
Free Cash Flow Firm Q/Q Growth		 224.26% -127.69% -311.23% -24.53% -24.45% -2.36% -2.51% -161.79% -2.13% - 11.14%
Invested Capital Q/Q Growth		 -0.74% 12.71% 6.77% 3.79% 3.60% 10.45% 6.26% 31.56% 0.98% - 1.53%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 16.35% 14.61% 17.08% 15.15% 15.17% 12.92% 15.65% 13.89% 2.94% - 13.66%
EBIT Margin		 12.59% 10.93% 13.50% 11.51% 11.42% 9.21% 11.64% 9.89% -0.75% - 10.02%
Profit (Net Income) Margin		 8.89% 8.09% 10.42% 8.50% 8.40% 7.31% 8.89% 7.33% -0.65% - 7.37%
Tax Burden Percent		 70.60% 74.05% 77.17% 73.86% 73.50% 79.33% 76.35% 74.09% 86.53% - 73.55%
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		 29.40% 25.95% 22.83% 26.14% 26.50% 20.67% 23.65% 25.91% 0.00% - 26.45%
Return on Invested Capital (ROIC)		 11.07% 10.19% 13.23% 10.99% 11.19% 9.68% 11.78% 8.67% -0.67% - 10.18%
ROIC Less NNEP Spread (ROIC-NNEP)		 11.07% 10.19% 13.23% 10.99% 11.19% 9.68% 11.78% 8.67% -0.74% - 10.18%
Return on Net Nonoperating Assets (RNNOA)		 30.82% 28.12% 34.47% 28.12% 27.43% 26.45% 31.71% 18.47% -1.56% - 20.33%
Return on Equity (ROE)		 41.89% 38.31% 47.71% 39.10% 38.62% 36.14% 43.49% 27.14% -2.23% - 30.51%
Cash Return on Invested Capital (CROIC)		 26.07% 6.90% -6.16% -9.60% -13.65% -12.32% -12.24% -36.73% -36.83% - -24.88%
Operating Return on Assets (OROA)		 12.65% 11.06% 13.67% 11.75% 11.92% 9.63% 12.30% 9.60% -0.78% - 11.14%
Return on Assets (ROA)		 8.93% 8.19% 10.55% 8.68% 8.76% 7.64% 9.39% 7.11% -0.67% - 8.20%
Return on Common Equity (ROCE)		 41.89% 38.31% 47.71% 39.10% 38.62% 36.14% 43.49% 27.14% -2.23% - 30.51%
Return on Equity Simple (ROE_SIMPLE)		 55.86% 0.00% 44.77% 38.74% 36.27% 0.00% 34.84% 22.03% 16.52% - 15.84%
Net Operating Profit after Tax (NOPAT)		 224 218 289 244 255 271 319 273 -24 - 356
NOPAT Margin		 8.89% 8.09% 10.42% 8.50% 8.40% 7.31% 8.89% 7.33% -0.52% - 7.37%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.07% - 0.00%
SG&A Expenses to Revenue		 77.10% 77.56% 80.09% 80.84% 81.13% 76.36% 80.96% 82.66% 90.99% - 82.89%
Operating Expenses to Revenue		 87.41% 89.07% 86.50% 88.49% 88.58% 90.79% 88.36% 90.11% 100.75% - 89.98%
Earnings before Interest and Taxes (EBIT)		 318 294 374 330 347 341 417 369 -34 - 485
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 412 393 474 434 461 479 561 518 134 - 661
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 8.63 8.24 8.78 8.28 6.27 8.34 7.81 5.91 5.28 - 4.24
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 143.58 0.00 0.00 24.58 0.00 - 0.00
Price to Revenue (P/Rev)		 1.87 1.70 1.95 1.95 1.56 1.97 1.85 2.13 1.71 - 1.32
Price to Earnings (P/E)		 15.45 16.07 19.61 21.38 17.30 23.10 22.41 26.83 31.95 - 26.74
Dividend Yield		 0.49% 0.53% 0.46% 0.43% 0.52% 0.37% 0.37% 0.32% 0.36% - 0.40%
Earnings Yield		 6.47% 6.22% 5.10% 4.68% 5.78% 4.33% 4.46% 3.73% 3.13% - 3.74%
Enterprise Value to Invested Capital (EV/IC)		 2.87 2.51 2.69 2.68 2.23 2.80 2.66 2.30 2.27 - 2.01
Enterprise Value to Revenue (EV/Rev)		 2.18 2.06 2.31 2.30 1.89 2.36 2.24 2.39 2.15 - 1.69
Enterprise Value to EBITDA (EV/EBITDA)		 10.97 11.46 13.47 14.30 11.99 15.85 15.26 16.65 19.81 - 16.20
Enterprise Value to EBIT (EV/EBIT)		 13.37 14.34 17.19 18.62 15.70 21.03 20.56 22.79 30.65 - 25.30
Enterprise Value to NOPAT (EV/NOPAT)		 17.97 19.43 23.25 25.14 21.01 27.67 27.13 30.07 40.23 - 34.18
Enterprise Value to Operating Cash Flow (EV/OCF)		 108.47 40.41 20.65 43.53 35.27 105.51 154.18 59.64 0.00 - 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 10.40 37.57 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.50 2.96 2.88 2.63 2.41 2.57 2.56 1.88 1.93 - 1.69
Long-Term Debt to Equity		 1.49 1.80 1.70 1.77 1.60 1.87 1.82 1.41 1.49 - 1.26
Financial Leverage		 2.78 2.76 2.61 2.56 2.45 2.73 2.69 2.13 2.10 - 2.00
Leverage Ratio		 4.69 4.68 4.52 4.51 4.41 4.73 4.63 3.82 3.84 - 3.72
Compound Leverage Factor		 4.69 4.68 4.52 4.51 4.41 4.73 4.63 3.82 3.84 - 3.72
Debt to Total Capital		 71.41% 74.78% 74.21% 72.46% 70.71% 71.96% 71.88% 65.28% 65.83% - 62.82%
Short-Term Debt to Total Capital		 28.69% 29.48% 30.42% 23.83% 23.78% 19.40% 20.68% 16.18% 14.86% - 15.86%
Long-Term Debt to Total Capital		 42.72% 45.30% 43.79% 48.64% 46.94% 52.56% 51.20% 49.10% 50.97% - 46.96%
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		 28.59% 25.22% 25.79% 27.54% 29.29% 28.04% 28.12% 34.72% 34.17% - 37.18%
Debt to EBITDA		 2.73 3.41 3.72 3.86 3.80 4.07 4.13 4.73 5.74 - 5.05
Net Debt to EBITDA		 1.54 1.98 2.11 2.14 2.12 2.62 2.65 1.80 4.08 - 3.52
Long-Term Debt to EBITDA		 1.63 2.07 2.20 2.59 2.52 2.97 2.94 3.55 4.45 - 3.78
Debt to NOPAT		 4.47 5.78 6.43 6.79 6.66 7.11 7.34 8.53 11.66 - 10.66
Net Debt to NOPAT		 2.52 3.36 3.64 3.76 3.71 4.57 4.71 3.24 8.27 - 7.44
Long-Term Debt to NOPAT		 2.68 3.50 3.79 4.56 4.42 5.19 5.22 6.42 9.03 - 7.97
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)		 1,074 -297 -1,223 -1,523 -1,895 -1,940 -1,989 -5,206 -5,317 - -3,828
Operating Cash Flow to CapEx		 182.21% 134.67% 351.91% -138.74% 142.34% -108.01% 284.44% 141.11% -1,215.94% - 175.19%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 -20.35 -23.67 -27.96 0.00 -23.16 -49.28 0.00 - -38.17
Operating Cash Flow to Interest Expense		 0.00 0.00 7.09 -2.78 3.09 0.00 3.96 1.83 0.00 - 2.90
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 5.07 -4.78 0.92 0.00 2.57 0.53 0.00 - 1.24
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.00 1.01 1.01 1.02 1.04 1.05 1.06 0.97 1.04 - 1.11
Fixed Asset Turnover		 11.78 11.73 11.33 11.13 11.03 11.56 11.86 11.99 12.54 - 13.49
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 7,313 8,243 8,801 9,135 9,464 10,453 11,108 14,614 14,757 - 15,292
Invested Capital Turnover		 1.24 1.26 1.27 1.29 1.33 1.32 1.33 1.18 1.29 - 1.38
Increase / (Decrease) in Invested Capital		 -850 515 1,512 1,767 2,151 2,211 2,307 5,479 5,293 - 4,185
Enterprise Value (EV)		 20,987 20,714 23,630 24,495 21,121 29,287 29,526 33,614 33,510 - 30,791
Market Capitalization		 18,039 17,132 19,926 20,835 17,392 24,449 24,396 29,988 26,617 - 24,091
Book Value per Share		 $27.40 $27.49 $30.44 $33.67 $37.07 $39.14 $41.89 $63.45 $63.03 - $71.00
Tangible Book Value per Share		 ($4.23) ($5.94) ($3.51) ($1.71) $1.62 ($9.69) ($8.85) $15.25 ($11.68) - ($4.84)
Total Capital		 7,313 8,243 8,801 9,135 9,464 10,453 11,108 14,614 14,757 - 15,292
Total Debt		 5,223 6,164 6,531 6,619 6,692 7,523 7,984 9,539 9,714 - 9,607
Total Long-Term Debt		 3,124 3,734 3,854 4,443 4,442 5,495 5,687 7,175 7,521 - 7,182
Net Debt		 2,948 3,582 3,704 3,661 3,729 4,839 5,129 3,626 6,893 - 6,701
Capital Expenditures (CapEx)		 95 106 121 129 147 166 119 137 142 - 166
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5.64 - 0.00
Net Nonoperating Obligations (NNO)		 5,223 6,164 6,531 6,619 6,692 7,523 7,984 9,539 9,714 - 9,607
Total Depreciation and Amortization (D&A)		 95 99 99 104 114 137 144 149 168 - 176
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.95 $2.93 $3.87 $3.26 $3.41 $3.63 $4.27 $3.42 ($0.37) $3.65 $4.45
Adjusted Weighted Average Basic Shares Outstanding		 76.06M 76.81M 74.56M 74.73M 74.78M 74.71M 74.60M 79.98M 80.02M 78.68M 80.11M
Adjusted Diluted Earnings per Share		 $2.91 $2.89 $3.83 $3.23 $3.39 $3.58 $4.24 $3.40 ($0.37) $3.65 $4.43
Adjusted Weighted Average Diluted Shares Outstanding		 77.15M 77.86M 75.46M 75.55M 75.41M 75.43M 75.11M 80.37M 80.36M 79.06M 80.45M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 75.62M 74.45M 74.71M 74.76M 74.88M 74.57M 79.98M 80.00M 80.04M 80.08M 79.98M
Normalized Net Operating Profit after Tax (NOPAT)		 258 218 289 244 255 271 319 273 51 - 356
Normalized NOPAT Margin		 10.25% 8.09% 10.42% 8.50% 8.40% 7.31% 8.89% 7.33% 1.11% - 7.37%
Pre Tax Income Margin		 12.59% 10.93% 13.50% 11.51% 11.42% 9.21% 11.64% 9.89% -0.75% - 10.02%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 6.23 5.13 5.12 0.00 4.86 3.49 0.00 - 4.83
NOPAT to Interest Expense		 0.00 0.00 4.81 3.79 3.77 0.00 3.71 2.59 0.00 - 3.55
EBIT Less CapEx to Interest Expense		 0.00 0.00 4.21 3.13 2.96 0.00 3.47 2.19 0.00 - 3.18
NOPAT Less CapEx to Interest Expense		 0.00 0.00 2.79 1.79 1.60 0.00 2.32 1.29 0.00 - 1.90
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 7.66% 8.65% 8.96% 9.27% 8.94% 8.48% 8.24% 8.17% 11.15% - 10.66%
Augmented Payout Ratio		 95.44% 111.82% 97.04% 65.20% 38.28% 24.54% 26.65% 26.07% 35.17% - 10.64%

Financials Breakdown Chart

Key Financial Trends

LPL Financial’s Q1 2026 results show a business that is still highly profitable, but with noticeable pressure on the balance sheet and cash flow versus prior periods. Revenue and earnings remain strong year over year, yet the latest quarter also featured a swing to negative operating capital changes and a drop in cash on hand, suggesting the company is working through a more capital-intensive period.

  • Revenue remained robust: Q1 2026 total revenue was $4.84 billion, up from $3.58 billion in Q1 2025 and $2.77 billion in Q1 2024.
  • Profitability improved versus the prior year: Net income rose to $356.4 million in Q1 2026 from $318.6 million in Q1 2025.
  • Earnings per share were solid: Diluted EPS reached $4.43 in Q1 2026, up from $4.24 in Q1 2025.
  • Investment banking income was a major driver: Q1 2026 investment banking income was $2.62 billion, a key contributor to the revenue increase.
  • Operating cash flow stayed positive: Q1 2026 operating cash flow was $290.4 million, showing the business still generated cash from operations.
  • Equity improved from last year-end: Total common equity rose to $5.69 billion in Q1 2026 from $5.04 billion in Q3 2025.
  • Dividends continue: LPL paid $0.30 per share in common dividends, reflecting ongoing shareholder returns.
  • Non-interest income remains the core engine: The company still relies heavily on fees and advisory-related income rather than spread-based interest income.
  • Debt remains a meaningful part of the capital structure: Long-term debt was $7.18 billion and short-term debt was $2.42 billion at Q1 2026.
  • Goodwill and intangible assets are sizable: These assets remain significant on the balance sheet, which is common for acquisitive financial firms but worth monitoring.
  • Cash fell sharply from the prior quarter: Cash and due from banks dropped to $1.02 billion in Q1 2026 from $1.34 billion in Q3 2025 and $4.19 billion in Q2 2025.
  • Operating capital was a drag: Changes in operating assets and liabilities reduced Q1 2026 operating cash flow by $397.2 million.
  • Quarterly cash declined: Net change in cash and equivalents was negative $148.8 million in Q1 2026.
  • Interest expense is still material: Q1 2026 total interest expense was $100.3 million, which continues to weigh on earnings power.
  • Margins narrowed from the prior quarter: Q1 2026 pre-tax income of $484.6 million was down from $397.6 million in Q4 2025 and reflects a more mixed operating environment despite higher revenue.

Bottom line: LPL Financial remains a profitable and growing franchise, with strong fee-driven revenue and healthy earnings. The main areas to watch are cash trends, operating capital swings, and the company’s debt load, especially if the business enters a more volatile market environment.

06/01/26 11:49 AM ETAI Generated. May Contain Errors.

LPL Financial Financials - Frequently Asked Questions

According to the most recent income statement we have on file, LPL Financial's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

LPL Financial's net income appears to be on an upward trend, with a most recent value of $863.02 million in 2025, rising from $168.78 million in 2015. The previous period was $1.06 billion in 2024. Check out LPL Financial's forecast to explore projected trends and price targets.

Over the last 10 years, LPL Financial's total revenue changed from $8.49 billion in 2015 to $16.99 billion in 2025, a change of 100.1%.

LPL Financial's total liabilities were at $13.15 billion at the end of 2025, a 26.6% increase from 2024, and a 245.5% increase since 2015.

In the past 10 years, LPL Financial's cash and equivalents has ranged from $465.67 million in 2023 to $1.04 billion in 2025, and is currently $1.04 billion as of their latest financial filing in 2025.


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Financial statements for NASDAQ:LPLA last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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