LPL Financial (LPLA) Financials

$354.02 -5.21 (-1.45%)

Closing price 08/20/2026 04:00 PM Eastern

Extended Trading

$353.93 -0.09 (-0.03%)

As of 04:52 AM Eastern

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

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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	218	289	244	255	271	319	273	-30	301	356	379
Consolidated Net Income / (Loss)	218	289	244	255	271	319	273	-30	301	356	379
Net Income / (Loss) Continuing Operations	218	289	244	255	271	319	273	-30	301	356	379
Total Pre-Tax Income	294	374	330	347	341	417	369	-34	398	485	516
Total Revenue	2,689	2,773	2,867	3,041	3,705	3,584	3,729	4,552	5,124	4,838	5,085
Net Interest Income / (Expense)	7.48	-60	-64	-68	192	-86	-106	0.00	191	-100	-102
Total Interest Income	-37	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00	0.00
Total Interest Expense	-45	60	64	68	-192	86	106	0.00	-191	100	102
Long-Term Debt Interest Expense	-	60	64	68	-	86	106	-	-	100	102
Total Non-Interest Income	2,681	2,833	2,932	3,108	3,512	3,670	3,835	4,552	4,932	4,938	5,187
Trust Fees by Commissions	682	746	787	807	965	1,048	1,038	1,187	1,232	1,192	1,232
Other Service Charges	833	843	809	874	904	889	1,002	1,093	1,107	1,086	1,276
Investment Banking Income	1,085	1,200	1,288	1,378	1,596	1,689	1,718	2,210	2,544	2,615	2,632
Other Non-Interest Income	-	44	47	50	47	44	77	61	50	45	47
Total Non-Interest Expense	2,395	2,398	2,537	2,693	3,363	3,167	3,361	4,586	4,726	4,354	4,570
Salaries and Employee Benefits	1,879	2,008	2,093	2,214	2,572	2,659	2,802	3,611	3,718	3,660	3,863
Net Occupancy & Equipment Expense	80	86	89	88	94	97	103	323	141	142	152
Marketing Expense	127	127	136	165	162	146	178	209	205	208	220
Other Operating Expenses	114	81	118	116	126	129	136	173	178	170	154
Depreciation Expense	68	67	71	78	92	92	96	100	105	106	110
Amortization Expense	29	30	31	32	43	44	46	65	82	67	71
Income Tax Expense	76	85	86	92	71	99	96	-4.59	97	128	136
Basic Earnings per Share	$2.93	$3.87	$3.26	$3.41	$3.63	$4.27	$3.42	($0.37)	$3.65	$4.45	$4.75
Weighted Average Basic Shares Outstanding	76.81M	74.56M	74.73M	74.78M	74.71M	74.60M	79.98M	80.02M	78.68M	80.11M	79.79M
Diluted Earnings per Share	$2.89	$3.83	$3.23	$3.39	$3.58	$4.24	$3.40	($0.37)	$3.65	$4.43	$4.74
Weighted Average Diluted Shares Outstanding	77.86M	75.46M	75.55M	75.41M	75.43M	75.11M	80.37M	80.36M	79.06M	80.45M	80.03M
Weighted Average Basic & Diluted Shares Outstanding	74.45M	74.71M	74.76M	74.88M	74.57M	79.98M	80.00M	80.04M	80.08M	79.98M	78.74M

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

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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
Net Change in Cash & Equivalents	306	246	131	4.04	-279	171	3,059	-3,092	234	-149	23
Net Cash From Operating Activities	143	426	-179	209	-179	340	193	-1,730	785	290	402
Net Cash From Continuing Operating Activities	143	426	-179	209	-179	340	193	-1,730	785	290	402
Net Income / (Loss) Continuing Operations	218	289	244	255	271	319	273	-30	301	356	379
Consolidated Net Income / (Loss)	218	289	244	255	271	319	273	-30	301	356	379
Provision For Loan Losses	4.10	2.67	6.93	3.90	5.48	-0.75	3.94	5.76	8.03	8.50	5.15
Depreciation Expense	68	67	71	78	92	92	96	100	105	106	110
Amortization Expense	31	32	33	35	45	51	53	68	86	71	74
Non-Cash Adjustments to Reconcile Net Income	43	96	113	101	81	119	121	129	287	146	191
Changes in Operating Assets and Liabilities, net	-221	-61	-647	-265	-673	-240	-354	-2,002	-1.83	-397	-357
Net Cash From Investing Activities	-202	-130	-246	-181	-1,035	-199	-250	-1,684	-253	-312	-305
Net Cash From Continuing Investing Activities	-202	-130	-246	-181	-1,035	-199	-250	-1,684	-261	-312	-305
Purchase of Property, Leasehold Improvements and Equipment	-106	-121	-129	-147	-166	-119	-137	-142	-172	-166	-199
Purchase of Investment Securities	-97	-10	-119	-35	-861	-80	-113	-1,541	-88	-145	-104
Sale and/or Maturity of Investments	1.25	1.25	1.25	1.25	1.25	1.25	1.25	1.35	1.25	1.25	1.25
Other Investing Activities, net	-	0.00	-	-	-	-1.43	-1.61	-1.47	-2.32	-2.30	-3.28
Net Cash From Financing Activities	365	-50	557	-24	935	30	3,116	321	-298	-128	-74
Net Cash From Continuing Financing Activities	365	-50	557	-24	935	30	3,116	321	-298	-128	-74
Issuance of Debt	1,721	245	1,033	-	2,170	1,317	1,497	544	215	295	685
Repayment of Debt	-1,113	-127	-456	-2.68	-1,123	-1,135	-12	-200	-528	-374	-410
Repurchase of Common Equity	-225	-70	-	-	-100	-100	0.24	-	-	0.00	-309
Payment of Dividends	-23	-22	-22	-22	-22	-22	-24	-24	-24	-24	-24
Other Financing Activities, Net	4.42	-76	1.67	1.00	10	-29	-70	0.61	39	-25	-15
Cash Interest Paid	57	44	75	44	107	54	105	79	142	72	134
Cash Income Taxes Paid	447	9.21	189	103	19	8.99	294	11	14	12	220

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

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	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
Total Assets	9,168	9,392	9,487	11,018	11,504	11,942	13,963	17,474	18,032	18,835	19,791
Cash and Due from Banks	470	761	799	1,102	1,319	1,475	1,229	4,185	1,344	1,024	1,276
Restricted Cash	1,913	1,652	1,476	1,725	1,640	1,488	1,625	1,728	1,477	1,881	1,653
Trading Account Securities	51	50	53	57	90	111	138	140	215	100	203
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	582	579	581	592	564	622	614	710	778	867	994
Premises and Equipment, Net	816	850	883	987	1,066	1,145	1,238	1,279	1,339	1,468	1,570
Goodwill	1,766	1,772	1,772	1,841	1,860	1,868	2,213	2,213	2,675	2,659	2,682
Intangible Assets	580	606	641	691	783	782	1,571	1,641	3,303	3,414	3,434
Other Assets	2,990	3,121	3,282	4,022	4,182	4,451	5,335	5,577	6,902	7,422	7,980
Total Liabilities & Shareholders' Equity	9,168	9,392	9,487	11,018	11,504	11,942	13,963	17,474	18,032	18,835	19,791
Total Liabilities	6,975	7,270	7,397	8,748	8,988	9,170	10,839	12,399	12,989	13,150	14,034
Short-Term Debt	2,245	2,245	2,098	2,677	2,176	2,250	2,297	2,364	2,192	2,425	2,856
Other Short-Term Payables	398	421	389	369	461	486	480	556	768	745	812
Long-Term Debt	2,851	3,001	3,124	3,854	4,443	4,442	5,687	7,175	7,521	7,182	7,461
Other Long-Term Liabilities	1,481	1,603	1,785	1,848	1,908	1,992	2,376	2,304	2,507	2,798	2,906
Total Equity & Noncontrolling Interests	2,193	2,122	2,091	2,270	2,515	2,772	3,124	5,074	5,043	5,686	5,757
Total Preferred & Common Equity	2,193	2,122	2,091	2,270	2,515	2,772	3,124	5,074	5,043	5,686	5,757
Total Common Equity	2,193	2,122	2,091	2,270	2,515	2,772	3,124	5,074	5,043	5,686	5,757
Common Stock	1,934	1,953	1,970	2,017	2,038	2,059	2,089	3,787	3,807	3,871	3,899
Retained Earnings	3,419	3,683	3,887	4,354	4,579	4,815	5,366	5,620	5,570	6,167	6,523
Treasury Stock	-3,160	-3,514	-3,767	-4,101	-4,102	-4,102	-4,332	-4,332	-4,333	-4,352	-4,665

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	-	-	-	-	-	-	-	-	-	-	-

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	80,080,181.00	79,982,861.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	80,080,181.00	79,982,861.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	4.45	4.74
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	18.50%	14.67%	18.30%	20.55%	37.78%	29.27%	30.06%	49.71%	-	34.99%	36.35%
EBITDA Growth	-21.13%	-10.08%	-8.71%	11.85%	21.89%	18.46%	19.19%	-70.98%	-	17.83%	35.11%
EBIT Growth	-29.92%	-15.82%	-15.11%	9.34%	16.17%	11.51%	11.73%	-109.82%	-	16.14%	39.78%
NOPAT Growth	-31.82%	-14.79%	-14.61%	13.83%	24.45%	10.32%	12.08%	-109.35%	-	11.88%	38.80%
Net Income Growth	-31.82%	-14.79%	-14.61%	13.83%	24.45%	10.32%	12.08%	-111.56%	-	11.88%	38.80%
EPS Growth	-26.46%	-9.67%	-11.51%	16.49%	23.88%	10.71%	5.26%	-110.91%	-	4.48%	39.41%
Operating Cash Flow Growth	180.73%	306.83%	-144.41%	20.88%	-225.42%	-20.21%	208.07%	-926.20%	-	-14.54%	107.94%
Free Cash Flow Firm Growth	71.45%	-57.69%	-76.21%	-276.48%	-552.34%	-62.61%	-241.83%	-180.53%	-	-92.52%	79.25%
Invested Capital Growth	6.66%	20.74%	23.98%	29.41%	26.82%	26.21%	59.98%	55.93%	-	37.67%	9.99%
Revenue Q/Q Growth	6.59%	8.72%	3.42%	6.04%	21.84%	-3.25%	4.05%	22.06%	-	-5.58%	5.10%
EBITDA Q/Q Growth	-4.73%	20.57%	-8.25%	6.14%	3.82%	17.18%	-7.69%	-74.16%	-	12.34%	5.84%
EBIT Q/Q Growth	-7.52%	27.37%	-11.79%	5.23%	-1.75%	22.26%	-11.61%	-109.25%	-	21.89%	6.38%
NOPAT Q/Q Growth	-3.00%	32.73%	-15.57%	4.72%	6.05%	17.66%	-14.23%	-108.74%	-	18.52%	6.41%
Net Income Q/Q Growth	-3.00%	32.73%	-15.57%	4.72%	6.05%	17.66%	-14.23%	-110.80%	-	18.52%	6.41%
EPS Q/Q Growth	-0.69%	32.53%	-15.67%	4.95%	5.60%	18.44%	-19.81%	-110.88%	-	21.37%	7.00%
Operating Cash Flow Q/Q Growth	-17.68%	198.78%	-142.00%	217.03%	-185.40%	290.07%	-43.12%	-994.74%	-	-63.01%	38.41%
Free Cash Flow Firm Q/Q Growth	-127.69%	-311.23%	-24.53%	-24.45%	-2.36%	-2.51%	-161.79%	-2.13%	-	11.14%	71.78%
Invested Capital Q/Q Growth	12.71%	6.77%	3.79%	3.60%	10.45%	6.26%	31.56%	0.98%	-	1.53%	5.10%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	14.61%	17.08%	15.15%	15.17%	12.92%	15.65%	13.89%	2.94%	-	13.66%	13.76%
EBIT Margin	10.93%	13.50%	11.51%	11.42%	9.21%	11.64%	9.89%	-0.75%	-	10.02%	10.14%
Profit (Net Income) Margin	8.09%	10.42%	8.50%	8.40%	7.31%	8.89%	7.33%	-0.65%	-	7.37%	7.46%
Tax Burden Percent	74.05%	77.17%	73.86%	73.50%	79.33%	76.35%	74.09%	86.53%	-	73.55%	73.57%
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	25.95%	22.83%	26.14%	26.50%	20.67%	23.65%	25.91%	0.00%	-	26.45%	26.43%
Return on Invested Capital (ROIC)	10.19%	13.23%	10.99%	11.19%	9.68%	11.78%	8.67%	-0.67%	-	10.18%	9.53%
ROIC Less NNEP Spread (ROIC-NNEP)	10.19%	13.23%	10.99%	11.19%	9.68%	11.78%	8.67%	-0.74%	-	10.18%	9.53%
Return on Net Nonoperating Assets (RNNOA)	28.12%	34.47%	28.12%	27.43%	26.45%	31.71%	18.47%	-1.56%	-	20.33%	17.46%
Return on Equity (ROE)	38.31%	47.71%	39.10%	38.62%	36.14%	43.49%	27.14%	-2.23%	-	30.51%	26.99%
Cash Return on Invested Capital (CROIC)	6.90%	-6.16%	-9.60%	-13.65%	-12.32%	-12.24%	-36.73%	-36.83%	-	-24.88%	-2.95%
Operating Return on Assets (OROA)	11.06%	13.67%	11.75%	11.92%	9.63%	12.30%	9.60%	-0.78%	-	11.14%	10.66%
Return on Assets (ROA)	8.19%	10.55%	8.68%	8.76%	7.64%	9.39%	7.11%	-0.67%	-	8.20%	7.85%
Return on Common Equity (ROCE)	38.31%	47.71%	39.10%	38.62%	36.14%	43.49%	27.14%	-2.23%	-	30.51%	26.99%
Return on Equity Simple (ROE_SIMPLE)	0.00%	44.77%	38.74%	36.27%	0.00%	34.84%	22.03%	16.52%	-	15.84%	17.49%
Net Operating Profit after Tax (NOPAT)	218	289	244	255	271	319	273	-24	-	356	379
NOPAT Margin	8.09%	10.42%	8.50%	8.40%	7.31%	8.89%	7.33%	-0.52%	-	7.37%	7.46%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.07%	-	0.00%	0.00%
SG&A Expenses to Revenue	77.56%	80.09%	80.84%	81.13%	76.36%	80.96%	82.66%	90.99%	-	82.89%	83.27%
Operating Expenses to Revenue	89.07%	86.50%	88.49%	88.58%	90.79%	88.36%	90.11%	100.75%	-	89.98%	89.86%
Earnings before Interest and Taxes (EBIT)	294	374	330	347	341	417	369	-34	-	485	516
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	393	474	434	461	479	561	518	134	-	661	700
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.24	8.78	8.28	6.27	8.34	7.81	5.91	5.28	-	4.24	3.91
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	143.58	0.00	0.00	24.58	0.00	-	0.00	0.00
Price to Revenue (P/Rev)	1.70	1.95	1.95	1.56	1.97	1.85	2.13	1.71	-	1.32	1.15
Price to Earnings (P/E)	16.07	19.61	21.38	17.30	23.10	22.41	26.83	31.95	-	26.74	22.38
Dividend Yield	0.53%	0.46%	0.43%	0.52%	0.37%	0.37%	0.32%	0.36%	-	0.40%	0.43%
Earnings Yield	6.22%	5.10%	4.68%	5.78%	4.33%	4.46%	3.73%	3.13%	-	3.74%	4.47%
Enterprise Value to Invested Capital (EV/IC)	2.51	2.69	2.68	2.23	2.80	2.66	2.30	2.27	-	2.01	1.86
Enterprise Value to Revenue (EV/Rev)	2.06	2.31	2.30	1.89	2.36	2.24	2.39	2.15	-	1.69	1.53
Enterprise Value to EBITDA (EV/EBITDA)	11.46	13.47	14.30	11.99	15.85	15.26	16.65	19.81	-	16.20	14.36
Enterprise Value to EBIT (EV/EBIT)	14.34	17.19	18.62	15.70	21.03	20.56	22.79	30.65	-	25.30	21.94
Enterprise Value to NOPAT (EV/NOPAT)	19.43	23.25	25.14	21.01	27.67	27.13	30.07	40.23	-	34.18	29.71
Enterprise Value to Operating Cash Flow (EV/OCF)	40.41	20.65	43.53	35.27	105.51	154.18	59.64	0.00	-	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	37.57	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.96	2.88	2.63	2.41	2.57	2.56	1.88	1.93	-	1.69	1.79
Long-Term Debt to Equity	1.80	1.70	1.77	1.60	1.87	1.82	1.41	1.49	-	1.26	1.30
Financial Leverage	2.76	2.61	2.56	2.45	2.73	2.69	2.13	2.10	-	2.00	1.83
Leverage Ratio	4.68	4.52	4.51	4.41	4.73	4.63	3.82	3.84	-	3.72	3.44
Compound Leverage Factor	4.68	4.52	4.51	4.41	4.73	4.63	3.82	3.84	-	3.72	3.44
Debt to Total Capital	74.78%	74.21%	72.46%	70.71%	71.96%	71.88%	65.28%	65.83%	-	62.82%	64.18%
Short-Term Debt to Total Capital	29.48%	30.42%	23.83%	23.78%	19.40%	20.68%	16.18%	14.86%	-	15.86%	17.77%
Long-Term Debt to Total Capital	45.30%	43.79%	48.64%	46.94%	52.56%	51.20%	49.10%	50.97%	-	46.96%	46.42%
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	25.22%	25.79%	27.54%	29.29%	28.04%	28.12%	34.72%	34.17%	-	37.18%	35.82%
Debt to EBITDA	3.41	3.72	3.86	3.80	4.07	4.13	4.73	5.74	-	5.05	4.95
Net Debt to EBITDA	1.98	2.11	2.14	2.12	2.62	2.65	1.80	4.08	-	3.52	3.55
Long-Term Debt to EBITDA	2.07	2.20	2.59	2.52	2.97	2.94	3.55	4.45	-	3.78	3.58
Debt to NOPAT	5.78	6.43	6.79	6.66	7.11	7.34	8.53	11.66	-	10.66	10.25
Net Debt to NOPAT	3.36	3.64	3.76	3.71	4.57	4.71	3.24	8.27	-	7.44	7.34
Long-Term Debt to NOPAT	3.50	3.79	4.56	4.42	5.19	5.22	6.42	9.03	-	7.97	7.41
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)	-297	-1,223	-1,523	-1,895	-1,940	-1,989	-5,206	-5,317	-	-3,828	-1,080
Operating Cash Flow to CapEx	134.67%	351.91%	-138.74%	142.34%	-108.01%	284.44%	141.11%	-1,215.94%	-	175.19%	201.53%
Free Cash Flow to Firm to Interest Expense	0.00	-20.35	-23.67	-27.96	0.00	-23.16	-49.28	0.00	-	-38.17	-10.64
Operating Cash Flow to Interest Expense	0.00	7.09	-2.78	3.09	0.00	3.96	1.83	0.00	-	2.90	3.96
Operating Cash Flow Less CapEx to Interest Expense	0.00	5.07	-4.78	0.92	0.00	2.57	0.53	0.00	-	1.24	2.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.01	1.01	1.02	1.04	1.05	1.06	0.97	1.04	-	1.11	1.05
Fixed Asset Turnover	11.73	11.33	11.13	11.03	11.56	11.86	11.99	12.54	-	13.49	13.76
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	8,243	8,801	9,135	9,464	10,453	11,108	14,614	14,757	-	15,292	16,073
Invested Capital Turnover	1.26	1.27	1.29	1.33	1.32	1.33	1.18	1.29	-	1.38	1.28
Increase / (Decrease) in Invested Capital	515	1,512	1,767	2,151	2,211	2,307	5,479	5,293	-	4,185	1,460
Enterprise Value (EV)	20,714	23,630	24,495	21,121	29,287	29,526	33,614	33,510	-	30,791	29,917
Market Capitalization	17,132	19,926	20,835	17,392	24,449	24,396	29,988	26,617	-	24,091	22,530
Book Value per Share	$27.49	$30.44	$33.67	$37.07	$39.14	$41.89	$63.45	$63.03	-	$71.00	$71.98
Tangible Book Value per Share	($5.94)	($3.51)	($1.71)	$1.62	($9.69)	($8.85)	$15.25	($11.68)	-	($4.84)	($4.48)
Total Capital	8,243	8,801	9,135	9,464	10,453	11,108	14,614	14,757	-	15,292	16,073
Total Debt	6,164	6,531	6,619	6,692	7,523	7,984	9,539	9,714	-	9,607	10,316
Total Long-Term Debt	3,734	3,854	4,443	4,442	5,495	5,687	7,175	7,521	-	7,182	7,461
Net Debt	3,582	3,704	3,661	3,729	4,839	5,129	3,626	6,893	-	6,701	7,387
Capital Expenditures (CapEx)	106	121	129	147	166	119	137	142	-	166	199
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	5.64	-	0.00	0.00
Net Nonoperating Obligations (NNO)	6,164	6,531	6,619	6,692	7,523	7,984	9,539	9,714	-	9,607	10,316
Total Depreciation and Amortization (D&A)	99	99	104	114	137	144	149	168	-	176	184
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.93	$3.87	$3.26	$3.41	$3.63	$4.27	$3.42	($0.37)	$3.65	$4.45	$4.75
Adjusted Weighted Average Basic Shares Outstanding	76.81M	74.56M	74.73M	74.78M	74.71M	74.60M	79.98M	80.02M	78.68M	80.11M	79.79M
Adjusted Diluted Earnings per Share	$2.89	$3.83	$3.23	$3.39	$3.58	$4.24	$3.40	($0.37)	$3.65	$4.43	$4.74
Adjusted Weighted Average Diluted Shares Outstanding	77.86M	75.46M	75.55M	75.41M	75.43M	75.11M	80.37M	80.36M	79.06M	80.45M	80.03M
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	74.45M	74.71M	74.76M	74.88M	74.57M	79.98M	80.00M	80.04M	80.08M	79.98M	78.74M
Normalized Net Operating Profit after Tax (NOPAT)	218	289	244	255	271	319	273	51	-	356	379
Normalized NOPAT Margin	8.09%	10.42%	8.50%	8.40%	7.31%	8.89%	7.33%	1.11%	-	7.37%	7.46%
Pre Tax Income Margin	10.93%	13.50%	11.51%	11.42%	9.21%	11.64%	9.89%	-0.75%	-	10.02%	10.14%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	6.23	5.13	5.12	0.00	4.86	3.49	0.00	-	4.83	5.08
NOPAT to Interest Expense	0.00	4.81	3.79	3.77	0.00	3.71	2.59	0.00	-	3.55	3.74
EBIT Less CapEx to Interest Expense	0.00	4.21	3.13	2.96	0.00	3.47	2.19	0.00	-	3.18	3.11
NOPAT Less CapEx to Interest Expense	0.00	2.79	1.79	1.60	0.00	2.32	1.29	0.00	-	1.90	1.77
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	8.65%	8.96%	9.27%	8.94%	8.48%	8.24%	8.17%	11.15%	-	10.66%	9.54%
Augmented Payout Ratio	111.82%	97.04%	65.20%	38.28%	24.54%	26.65%	26.07%	35.17%	-	10.64%	40.28%

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.

08/21/26 05:31 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 financial year ends in December. Their financial 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. See LPL Financial's forecast for analyst expectations on what's next for the company.

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 8/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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LPL Financial (LPLA) Financials

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LPL Financial (LPLA) Financials

Annual Income Statements for LPL Financial

Quarterly Income Statements for LPL Financial

Annual Cash Flow Statements for LPL Financial

Quarterly Cash Flow Statements for LPL Financial

Annual Balance Sheets for LPL Financial

Quarterly Balance Sheets for LPL Financial

Annual Metrics And Ratios for LPL Financial

Quarterly Metrics And Ratios for LPL Financial

Financials Breakdown Chart

Key Financial Trends

LPL Financial Financials - Frequently Asked Questions

When does LPL Financial's fiscal year end?

How has LPL Financial's net income changed over the last 10 years?

How has LPL Financial's revenue changed over the last 10 years?

How much debt does LPL Financial have?

How much cash does LPL Financial have?

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