LPL Financial Holdings Inc. LPLA

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Insider Decisions

Total sells 7.97
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy
Sell 1 1 3 2 2 1 1 1 2 1
Insider Ownership 1.84%

Capital & Financial Ratios

Market Cap 25,830.00
Revenue 19,609.50
Net Income 1,006.87
Free Cash Flow (931.29)
Net Debt 4,328.27
Current Ratio 2.39
Debt/Equity 1.30
P/E ratio 26.06
P/S ratio 1.34
P/B ratio 4.55
Past 5Y EPS Growth 16.23%
This Y EPS Growth 18.22%
Next Y EPS Growth 26.27%
Next 5Y EPS Growth 21.45%
in millions of $

Dividends

Payout Ratio 0.08
Annual Dividend Rate 1.20
Annual Dividend Yield 0.53%
total individual payouts
2028 ‡‡‡‡‡
2027 ‡‡‡‡‡
2026 1.21
2025 1.20
2024 1.20
2023 1.20
2022 1.00
2021 1.00
2020 1.00
2019 1.00
2018 1.00
2017 1.00
2016 1.00
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 2,672.47 2,741.53 3,146.27 3,132.25
Receivables 1,381.97 1,613.16 2,077.64 2,666.43
Inventory
Other
5,534.14 6,635.78 8,905.42 9,688.04
2023 2024 2025 Q'26
Payables 2,915.48 2,616.34 3,280.44 3,667.89
ST’ Debt
Other
3,132.02 2,940.34 3,642.06 4,049.14
in millions of $

Compound Annual Growth

10y 5y 3y
Sales ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Cash Flow ‡‡‡ ‡‡‡ ‡‡‡
Earnings ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Book Value ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡

Revenue

Mar Jun Sep Dec Year
’26 4,938.43 5,186.62
’25 3,670.01 3,835.03 4,551.98 4,932.47 16,989.48
’24 2,832.59 2,931.77 3,108.39 3,512.35 12,385.11
’23 2,417.83 2,468.80 2,522.38 2,643.83 10,052.85
’22 2,065.69 2,038.89 2,163.06 2,333.19 8,600.83
’21 1,707.62 1,898.26 2,020.76 2,094.19 7,720.83
’20 1,463.40 1,366.66 1,460.30 1,581.28 5,871.64
in millions of $

Operating Cash Flow

Mar Jun Sep Dec Year
’26 290.40 401.95
’25 339.81 193.30 (1,729.52) 785.01 (411.40)
’24 425.90 (178.87) 209.34 (178.78) 277.59
’23 (205.92) 402.81 173.17 142.55 512.61
’22 (75.12) 72.68 2,124.59 (176.57) 1,945.58
’21 60.41 (119.14) 258.40 253.46 453.13
’20 381.18 (43.03) 125.52 326.27 789.94
in millions of $

Free Cash Flow

Mar Jun Sep Dec Year
’26 124.64 202.51
’25 220.34 56.31 (1,871.76) 613.33 (981.78)
’24 304.88 (307.79) 62.27 (344.30) (284.94)
’23 (307.17) 301.67 78.13 36.70 109.33
’22 (148.66) (3.58) 2,042.22 (251.00) 1,638.98
’21 19.30 (163.01) 203.42 177.44 237.15
’20 347.20 (80.96) 85.47 282.70 634.41
in millions of $

EPS

Mar Jun Sep Dec Year
’26 4.43 4.74
’25 4.24 3.40 (0.37) 3.74 10.92
’24 3.83 3.23 3.39 3.59 14.03
’23 4.24 3.65 2.91 2.85 13.69
’22 1.64 1.97 2.86 3.95 10.40
’21 1.59 1.46 1.26 1.32 5.63
’20 1.92 1.27 1.29 1.38 5.86

Target Price Range

High ‡‡‡‡‡ ‡‡‡‡‡
Average ‡‡‡‡‡ ‡‡‡‡‡
Low ‡‡‡‡‡ ‡‡‡‡‡

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell
Powerpack only forecast
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 140.65 179.00 187.19 262.83
Low Price
‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 271.56 257.65 336.40 403.58
High Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 6,900 8,400 9,000 10,000
Employees
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.25 1.20 1.38 1.70
Revenue/Emp
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 8,600.83 10,052.85 12,385.11 16,989.48 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 37.09% 40.10% 36.38% 33.00%
Gross Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,111.65 1,444.78 1,392.89 1,149.51 ‡‡‡‡‡
EBT
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 12.92% 14.37% 11.25% 6.77% ‡‡‡ ‡‡‡ ‡‡‡
EBT Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 845.70 1,066.25 1,058.62 863.02 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Net Income
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 294.23 362.94 455.08 651.61
Depreciation
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 107.78 130.88 165.77 215.93 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue/Sh
‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ 10.60 13.88 14.17 10.97 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Earnings/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 24.38 6.67 3.72 (5.23)
Cash Flow/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (3.84) (5.25) (7.53) (7.25) ‡‡‡ ‡‡‡ ‡‡‡
Capex/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 20.54 1.42 (3.81) (12.48)
Free CF/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 27.16 27.07 39.22 67.93 ‡‡‡‡‡
Book Value/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 79.80 76.81 74.71 78.68 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Shares
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 20.49 16.67 23.06 32.24 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
PE Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 2.02 1.76 1.97 1.65 ‡‡‡ ‡‡‡ ‡‡‡
PS Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 8.00 8.53 8.32 5.26 ‡‡‡ ‡‡‡ ‡‡‡
PB Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.97 1.87 2.20 1.90 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
EV/Sales
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 10.31 172.23 (95.43) (32.86)
EV/FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,945.58 512.61 277.59 (411.40) ‡‡‡ ‡‡‡ ‡‡‡
Op' Cash Flow
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (306.60) (403.29) (562.53) (570.38) ‡‡‡‡‡ ‡‡‡‡‡
Capex
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,638.98 109.33 (284.94) (981.78) ‡‡‡‡‡
FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 2,113.89 2,402.12 3,695.44 5,263.36
Working Cap'
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 2,761.44 3,734.11 5,494.72 7,258.69
Total Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (428.44) 1,061.64 2,753.19 4,112.43
Net Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 2,167.55 2,078.98 2,930.60 5,344.49
Sh' Equity
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 9.68% 10.73% 8.93% 5.43% ‡‡‡‡‡
ROA
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 44.49% 32.47% 18.33% 10.26%
ROIC
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 44.07% 50.22% 42.26% 20.86% ‡‡‡‡‡
ROE
predictions in italic, sparklines do not include predictions

Analyst Commentary (Summary)

LPL Financial Holdings Inc. (LPLA) has delivered explosive growth, with revenues surging from $4.05 billion in 2016 to $12.39 billion in 2024 at a 15%+ CAGR, fueled by advisor recruitment, $1.5 trillion in assets under management, and a shift to independent models amid regulatory tailwinds and retail investing booms. Revenue per employee stabilized at $1.2-1.4 million despite 173% headcount growth, showcasing scalable efficiency, while analyst projections eye $23.95 billion by 2027 (20%+ CAGR), banking on demographic wealth transfers.

Profitability shines with 2023 ROE at 50.2% (vs. sector ~10%) and net income up 26% to $1.07 billion, but 2024 brought volatility: EBT margins contracted to 11.3%, FCF per share turned negative at -$3.81, and capex spiked 39%. Balance sheet strength persists—equity up 257% to $2.93 billion—but debt rose 47%, insider sells totaled $5.3 million with no buys, and stock multiples (P/E 24x, P/S 2x) embed optimism amid execution risks from rates, regulation, and fintech rivals.

LPLA’s 667% share price rise since 2016 outperforms financial peers, with 20-30% upside potential if forecasts hold, positioning it as a hold-to-buy for patient investors. Yet cycles warn of cash flow perils; monitor Q1 2026 earnings and insider activity for conviction signals.

LPL Financial Holdings Inc. (LPLA) Latest News

News by impact score

Fine-tune

15 Sep

3 , 8:55 AM

LPL Financial Holdings Inc. welcomes Horizon Wealth Management Group to its platform. Horizon Wealth Management Group addition expands LPL's advisor network and assets under management.

3 , 6:10 AM

LPL Financial Holdings Inc. (LPLA) stock may be 28% undervalued following CEO exit news. CEO departure at LPL Financial introduces short-term market uncertainty with potential valuation shifts.

1 Sep

3 www.wealthmanagement.com, 2:37 PM

LPL Financial's &Partners recruits two advisor teams with $1.5B in assets under management. Team recruitment adding $1.5B AUM supports LPL asset growth at a moderate level without shifting overall trajectory or market position.

31 Aug

3 , 8:22 PM

LPL Financial loses Sierra Ridge while overhauling tech leadership, prompting questions on how investors will respond to the dual developments. Losing Sierra Ridge alongside tech leadership changes points to moderate effects on operations and sentiment without fundamentally shifting long-term trajectory.

25 Aug

4 , 12:42 PM

LPL Financial recruited an advisor team managing $1.6 billion in client assets from Cambridge Investment Research. Recruiting a $1.6 billion advisor team adds substantial assets under management and strengthens LPL's competitive position.

21 Aug

3 , 5:10 PM

LPL Financial Holdings may be 15% undervalued following its July asset update. July asset update points to undervaluation that could influence near-term investor sentiment and stock trajectory.

3 , 11:17 AM

LPL Financial Holdings Inc. shows strong asset-gathering momentum but faces questions over its ability to sustain that pace amid evolving market conditions and competition. Asset-gathering performance directly shapes LPLA revenue growth and competitive standing.

14 Aug

3 , 8:13 PM

LPL Financial Holdings Inc. highlights three major factors supporting its strong growth potential and appeal to investors. Positive factors cited could moderately boost investor sentiment and stock performance without altering core trajectory.

12 Aug

4 , 11:10 AM

LPL Financial widens wealth platform access and launches AI tools. Platform expansion plus AI rollout represent major strategic moves that can shift competitive positioning and long-term growth.

3 , 6:10 PM

LPL Financial Holdings Inc. broadens its wealth platform and lowers account minimums, potentially reshaping its bull case and growth outlook. Broader platform and lower minimums may moderately boost LPL Financial competitive positioning and operations.

3 www.americanbanker.com, 5:16 PM

Altruist's technology and low fees challenge major wealth management firms including LPL Financial Holdings. Altruist competition may pressure LPL market position and client acquisition.

3 www.financial-planning.com, 5:16 PM

Altruist targets wealth management market with low-cost technology platform to compete against established players including LPL Financial Holdings. Altruist competition directly challenges LPL positioning in advisor technology and pricing.

3 , 1:15 PM

LPL Financial highlights platform scale, service innovation and investment expertise as core drivers of client growth. Platform scale and service upgrades support client retention and incremental revenue gains.

11 Aug

3 , 1:15 PM

LPL Financial expands its wealth management platform and showcases specialized expertise at Focus 2026. Platform expansion at industry event signals moderate growth in specialized services without major market shifts.

5 Aug

3 www.wealthmanagement.com, 10:50 AM

LPL Financial Holdings Inc. launches new suite of model portfolios as demand stays strong. New model portfolio suite supports LPL product expansion in advisory services.

4 Aug

3 , 9:00 AM

LPL Research launches new model portfolios to expand advisor capabilities at LPL Financial Holdings Inc. New model portfolios represent product innovation that may moderately strengthen advisor tools and competitive positioning.

3 Aug

4 transcript www.fool.com, 8:14 PM

LPL Financial Holdings Inc. (LPLA) released its Q2 2026 earnings call transcript covering financial results, executive commentary and forward outlook. Earnings call details directly shape near-term guidance and investor positioning for LPLA.

4 www.financial-planning.com, 3:29 PM

Mariner makes massive AI investment and splits operations into separate 'experience' and 'execution' units. AI-led split represents major strategic restructuring likely to reshape operations and competitive positioning.

4 www.americanbanker.com, 3:29 PM

Mariner commits heavily to AI, restructuring into separate 'experience' and 'execution' units with direct effects on LPL Financial Holdings Inc. (LPLA) operations and strategy. AI-driven split into experience and execution units represents a major strategic shift likely to alter LPLA competitive positioning and performance.

2 Aug

4 , 4:09 AM

LPL Financial Holdings reported record Q2 earnings that strengthen the case for its current valuation. Record Q2 earnings directly boost LPLA valuation arguments and investor outlook.

31 Jul

4 transcript www.marketbeat.com, 8:03 PM

LPL Financial Holdings Inc. released highlights from its Q2 earnings call, covering financial results, operational metrics, and management commentary on business performance and outlook. Q2 earnings results and forward guidance directly shape investor views on revenue trajectory and competitive positioning.

4 , 7:47 PM

LPLA reports Q2 recruiting strength, ongoing technology investments, and progress on Commonwealth integration. Recruiting gains and Commonwealth integration advance LPLA's operational scale and competitive stance.

4 www.wealthmanagement.com, 9:06 AM

LPL Financial Holdings Inc. saw recruited assets jump 35% in Q2. 35% surge in recruited assets signals major revenue growth and strengthened market position for LPL Financial.

4 transcript , 1:01 AM

LPL Financial Holdings Inc reported record EPS in Q2 2026 earnings call while outlining strategic initiatives. Record EPS and strategic moves signal major positive shifts in financial performance and growth trajectory.

3 , 1:37 PM

LPL Financial Holdings Inc. Q2 earnings beat expectations on revenue growth and increased advisory assets. Q2 earnings beat with revenue and advisory asset growth signals moderate positive effect on near-term performance and sentiment.

3 transcript app.moby.co, 8:30 AM

LPL Financial Holdings Inc. Q2 2026 earnings call outlined quarterly financial results, revenue figures, client asset growth, and management commentary on business outlook. Quarterly earnings updates typically deliver moderate short-term effects on stock sentiment without altering long-term company trajectory.

30 Jul

4 transcript www.fool.com, 9:47 PM

LPL Financial Holdings Inc. (LPLA) held its Q2 2026 earnings call, covering financial results and business outlook. Earnings call delivers key quarterly results and guidance with direct effects on valuation and sentiment.

3 , 7:30 PM

LPL Financial Holdings Inc. (LPLA) beat estimates for Q2 earnings and revenues. Q2 earnings and revenues surpassing estimates can boost investor confidence and share price in the near term.

3 , 6:30 PM

LPL Financial Holdings Inc. posted Q2 earnings with key financial metrics evaluated against analyst estimates. Q2 earnings metrics versus estimates can moderately shift near-term investor sentiment on performance.

3 , 5:31 PM

LPL Financial Holdings Inc. exceeded Q2 CY2026 sales estimates, prompting a sharp rise in its stock price. Beating quarterly sales estimates can lift near-term stock valuation and investor sentiment for the firm.