Saturday 17 October 2026
Export LPLA’s income statement to Excel — free account
LPL Financial Holdings Inc.
LPLA Financial Capital Markets
LPL Financial Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $17.0 billion, up 37.2% from fiscal 2024. In the quarter to June 2026, revenue grew 35.2%, EPS grew 38.9%, free cash flow grew 259.6% and total debt rose 3.98%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for five.
320.96
6.60
−2.01%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
16.49 | 21.50 | 12.24 | 13.63 | 17.46 | 27.79 | 20.49 | 16.67 | 23.06 | 32.24 |
Piotroski F-Score |
7 | 5 | 8 | 8 | 6 | 4 | 7 | 7 | 5 | 4 |
P/S ratio |
0.78 | 1.20 | 1.04 | 1.35 | 1.41 | 1.66 | 2.02 | 1.76 | 1.97 | 1.65 |
P/FCF ratio |
12.14 | 15.08 | 11.99 | 16.29 | 13.02 | 54.01 | 10.58 | 162.11 | 0.00 | 0.00 |
P/Operating CF |
25.01 | 15.61 | 13.96 | 66.74 | 25.31 | 50.53 | (98.17) | 124.33 | (136.45) | 35.80 |
P/B ratio |
3.86 | 5.33 | 5.53 | 7.44 | 6.28 | 7.67 | 8.00 | 8.53 | 8.32 | 5.26 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 177.95 | 0.00 | 0.00 | 0.00 |
EV/Sales |
0.94 | 1.38 | 1.19 | 1.52 | 1.49 | 1.75 | 1.96 | 1.87 | 2.19 | 1.90 |
EV/EBITDA |
7.38 | 9.50 | 7.11 | 8.19 | 9.58 | 13.97 | 11.01 | 9.42 | 12.79 | 14.61 |
EV/Operating CF |
9.74 | 13.01 | 10.64 | 13.66 | 11.09 | 29.79 | 8.67 | 36.65 | 97.80 | (78.30) |
EV/FCF |
14.50 | 17.27 | 13.78 | 18.24 | 13.81 | 56.93 | 10.29 | 171.83 | (95.27) | (32.81) |
Quick Ratio |
1.33 | 1.28 | 1.19 | 1.09 | 1.31 | 1.36 | 1.28 | 1.29 | 1.48 | 1.43 |
Current Ratio |
1.44 | 1.39 | 1.34 | 1.29 | 1.59 | 1.75 | 1.60 | 1.77 | 2.26 | 2.45 |
Net Debt/EBITDA |
1.20 | 1.21 | 0.93 | 0.87 | 0.55 | 0.72 | (0.31) | 0.53 | 1.30 | 1.87 |
Debt/Assets |
45.00% | 44.53% | 43.30% | 40.80% | 35.56% | 35.21% | 28.66% | 35.96% | 41.26% | 39.25% |
Debt/Equity |
2.65 | 2.47 | 2.44 | 2.34 | 1.78 | 1.68 | 1.25 | 1.80 | 1.87 | 1.36 |
Asset Turnover |
0.87 | 0.84 | 0.96 | 0.99 | 0.94 | 1.06 | 0.98 | 1.01 | 1.05 | 1.07 |
Operating CF/Net income |
2.03 | 1.90 | 1.32 | 1.11 | 1.67 | 0.99 | 2.30 | 0.48 | 0.26 | (0.48) |
Capex/Depreciation |
(1.07) | (0.88) | (0.87) | (0.94) | (0.85) | (0.91) | (1.04) | (1.11) | (1.24) | (0.88) |
Interest Coverage |
4.08 | 4.62 | 5.74 | 6.73 | 6.92 | 6.99 | 9.81 | 8.73 | 6.08 | 3.85 |
| 24.98% | 26.75% | 45.33% | 56.05% | 40.42% | 30.81% | 44.07% | 50.22% | 42.26% | 20.86% | |
| 4.10% | 4.69% | 8.11% | 9.86% | 7.58% | 6.30% | 9.68% | 10.73% | 8.93% | 5.43% | |
ROIC |
17.12% | 18.02% | 25.21% | 28.29% | 25.15% | 19.31% | 45.64% | 32.47% | 18.33% | 10.26% |
Return on Tangible Assets |
16.84% | 20.67% | 38.31% | 47.86% | 25.84% | 18.26% | 29.22% | 31.97% | 21.58% | 12.93% |
Average Days of Receivables |
63.63 | 65.59 | 58.28 | 59.08 | 58.27 | 59.70 | 54.98 | 50.18 | 47.54 | 44.64 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
19.50% | 19.67% | 18.56% | 18.16% | 18.62% | 17.65% | 17.68% | 18.26% | 17.58% | 18.86% |
Intangible Assets out of Total Assets |
0.36 | 0.34 | 0.36 | 0.33 | 0.29 | 0.26 | 0.22 | 0.24 | 0.27 | 0.32 |
Share Based Compensation of Revenue |
0.61% | 0.67% | 0.56% | 0.58% | 0.58% | 0.57% | 0.61% | 0.68% | 0.74% | 0.47% |
Graham Net Nets |
(0.49) | (0.34) | (0.34) | (0.26) | (0.23) | (0.15) | (0.10) | (0.16) | (0.15) | (0.15) |
Graham Number |
21.17 | 25.33 | 35.23 | 43.47 | 47.21 | 52.02 | 80.49 | 91.81 | 111.79 | 130.13 |
Earnings Yield |
6.07% | 4.65% | 8.17% | 7.34% | 5.73% | 3.60% | 4.88% | 6.00% | 4.34% | 3.10% |
Free Cash Flow Yield |
8.24% | 6.63% | 8.34% | 6.14% | 7.68% | 1.85% | 9.46% | 0.62% | (1.17%) | (3.49%) |
Revenue per Share |
45.46 | 47.57 | 58.88 | 68.14 | 74.10 | 96.51 | 107.78 | 130.88 | 165.77 | 215.93 |
Operating CF per Share |
4.37 | 5.04 | 6.60 | 7.56 | 9.97 | 5.66 | 24.38 | 6.67 | 3.72 | (5.23) |
Capex per Share |
(1.43) | (1.24) | (1.51) | (1.89) | (1.96) | (2.70) | (3.84) | (5.25) | (7.53) | (7.25) |
Free Cash Flow per Share |
2.93 | 3.79 | 5.09 | 5.66 | 8.01 | 2.96 | 20.54 | 1.42 | (3.81) | (12.48) |
Cash per Share |
17.50 | 18.20 | 17.78 | 18.04 | 23.24 | 26.52 | 39.97 | 34.79 | 36.69 | 39.99 |
Shareholders Equity per Share |
9.22 | 10.72 | 11.05 | 12.40 | 16.59 | 20.88 | 27.16 | 27.07 | 39.22 | 67.93 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
9.22 | 10.72 | 11.05 | 12.40 | 16.59 | 20.88 | 27.16 | 27.07 | 39.22 | 67.93 |
Free Cash Flow |
261.29 | 341.41 | 448.89 | 467.48 | 634.41 | 237.15 | 1,638.98 | 109.33 | (284.94) | (981.78) |
Working Capital |
752.04 | 742.71 | 685.69 | 636.85 | 1,246.01 | 1,859.55 | 2,113.89 | 2,402.12 | 3,695.44 | 5,263.36 |
Capital Expenditures |
(127.65) | (111.90) | (132.69) | (156.39) | (155.53) | (215.99) | (306.60) | (403.29) | (562.53) | (570.38) |
Net Current Asset Value |
(1,554.84) | (1,767.02) | (1,809.18) | (2,014.73) | (1,914.87) | (1,972.77) | (1,706.18) | (2,772.37) | (3,751.02) | (4,242.85) |
EV/EBIT |
9.62 | 11.94 | 8.62 | 9.74 | 11.97 | 18.49 | 13.62 | 11.51 | 16.28 | 20.74 |
Capex to Sales |
0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.04 | 0.04 | 0.05 | 0.03 |
Price to Operating Income |
8.05 | 10.42 | 7.50 | 8.70 | 11.29 | 17.54 | 14.00 | 10.86 | 14.63 | 18.10 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.31 | 0.31 | 0.33 | 0.31 | 0.31 | 0.36 | 0.38 | 0.39 | 0.38 | 0.46 |
Cash ROIC |
5.74% | 6.84% | 9.14% | 9.52% | 11.53% | 3.59% | 20.30% | 1.29% | (2.55%) | (6.23%) |
Accounts Receivable Turnover |
5.84 | 5.80 | 6.49 | 6.47 | 6.36 | 7.02 | 6.72 | 7.51 | 8.27 | 9.21 |
Accounts Payable Turnover |
2.18 | 1.95 | 2.17 | 2.15 | 2.07 | 2.51 | 1.95 | 1.94 | 2.85 | 3.86 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
180.41 | 197.89 | 169.59 | 180.65 | 187.27 | 157.08 | 222.02 | 176.72 | 121.20 | 105.20 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
693.21 | 737.69 | 798.94 | 869.44 | 923.90 | 1,100.12 | 1,279.24 | 1,338.79 | 1,497.56 | 1,845.40 |
Average Payables |
1,220.14 | 1,395.32 | 1,492.04 | 1,607.31 | 1,821.12 | 2,099.88 | 2,778.84 | 3,103.39 | 2,765.91 | 2,948.39 |
Average Assets |
4,677.99 | 5,096.84 | 5,418.11 | 5,678.85 | 6,238.20 | 7,293.88 | 8,736.91 | 9,933.85 | 11,851.44 | 15,905.08 |
Average Common Equity |
768.30 | 893.00 | 969.54 | 998.97 | 1,169.36 | 1,492.69 | 1,919.04 | 2,123.27 | 2,504.79 | 4,137.54 |
Columns are period end dates