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