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LPL Financial Holdings Inc.

LPLA Clue Score47
United States Fiscal year ends December CIK 0001397911
$330.88 +0.88% Close, 9 Oct 2026
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Price $330.88 +98.05% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueNet income
Fiscal year 2016Revenue4.05Net income0.19EPS, diluted2.13Fiscal year 2017Revenue4.28 +5.7%Net income0.24 +24.5%EPS, diluted2.59 +21.6%Fiscal year 2018Revenue5.19 +21.2%Net income0.44 +84.0%EPS, diluted4.85 +87.3%Fiscal year 2019Revenue5.62 +8.4%Net income0.56 +27.4%EPS, diluted6.62 +36.5%Fiscal year 2020Revenue5.87 +4.4%Net income0.47 −15.6%EPS, diluted5.86 −11.5%Fiscal year 2021Revenue7.72 +31.5%Net income0.46 −2.7%EPS, diluted5.63 −3.9%Fiscal year 2022Revenue8.60 +11.4%Net income0.85 +83.9%EPS, diluted10.40 +84.7%Fiscal year 2023Revenue10.05 +16.9%Net income1.07 +26.1%EPS, diluted13.69 +31.6%Fiscal year 2024Revenue12.39 +23.2%Net income1.06 −0.7%EPS, diluted14.03 +2.5%Fiscal year 2025Revenue16.99 +37.2%Net income0.86 −18.5%EPS, diluted10.92 −22.2%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 4.05 4.28 5.19 5.62 5.87 7.72 8.60 10.05 12.39 16.99
Growth +5.7% +21.2% +8.4% +4.4% +31.5% +11.4% +16.9% +23.2% +37.2%
Net income 0.19 0.24 0.44 0.56 0.47 0.46 0.85 1.07 1.06 0.86
Growth +24.5% +84.0% +27.4% −15.6% −2.7% +83.9% +26.1% −0.7% −18.5%
EPS, diluted 2.13 2.59 4.85 6.62 5.86 5.63 10.40 13.69 14.03 10.92
Growth +21.6% +87.3% +36.5% −11.5% −3.9% +84.7% +31.6% +2.5% −22.2%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Net margin
Fiscal year 2016Net margin4.7%Free cash flow margin6.5%Fiscal year 2017Net margin5.6%Free cash flow margin8.0%Fiscal year 2018Net margin8.5%Free cash flow margin8.7%Fiscal year 2019Net margin10.0%Free cash flow margin8.3%Fiscal year 2020Net margin8.0%Free cash flow margin10.8%Fiscal year 2021Net margin6.0%Free cash flow margin3.1%Fiscal year 2022Net margin9.8%Free cash flow margin19.1%Fiscal year 2023Net margin10.6%Free cash flow margin1.1%Fiscal year 2024Net margin8.5%Free cash flow margin−2.3%Fiscal year 2025Net margin5.1%Free cash flow margin−5.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net margin 4.7% 5.6% 8.5% 10.0% 8.0% 6.0% 9.8% 10.6% 8.5% 5.1%
Free cash flow margin 6.5% 8.0% 8.7% 8.3% 10.8% 3.1% 19.1% 1.1% −2.3% −5.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow0.39Capital expenditure−0.13Free cash flow0.26Buybacks−0.03Dividends paid−0.09Fiscal year 2017Operating cash flow0.45Capital expenditure−0.11Free cash flow0.34 +30.7%Buybacks−0.11Dividends paid−0.09Fiscal year 2018Operating cash flow0.58Capital expenditure−0.13Free cash flow0.45 +31.5%Buybacks−0.42Dividends paid−0.09Fiscal year 2019Operating cash flow0.62Capital expenditure−0.16Free cash flow0.47 +4.1%Buybacks−0.50Dividends paid−0.08Fiscal year 2020Operating cash flow0.79Capital expenditure−0.16Free cash flow0.63 +35.7%Buybacks−0.15Dividends paid−0.08Fiscal year 2021Operating cash flow0.45Capital expenditure−0.22Free cash flow0.24 −62.6%Buybacks−0.09Dividends paid−0.08Fiscal year 2022Operating cash flow1.95Capital expenditure−0.31Free cash flow1.64 +591.1%Buybacks−0.33Dividends paid−0.08Fiscal year 2023Operating cash flow0.51Capital expenditure−0.40Free cash flow0.11 −93.3%Buybacks−1.10Dividends paid−0.09Fiscal year 2024Operating cash flow0.28Capital expenditure−0.56Free cash flow−0.28 −360.6%Buybacks−0.17Dividends paid−0.09Fiscal year 2025Operating cash flow−0.41Capital expenditure−0.57Free cash flow−0.98Buybacks−0.10Dividends paid−0.09
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.39 0.45 0.58 0.62 0.79 0.45 1.95 0.51 0.28 −0.41
Capital expenditure −0.13 −0.11 −0.13 −0.16 −0.16 −0.22 −0.31 −0.40 −0.56 −0.57
Free cash flow 0.26 0.34 0.45 0.47 0.63 0.24 1.64 0.11 −0.28 −0.98
Growth +30.7% +31.5% +4.1% +35.7% −62.6% +591.1% −93.3% −360.6%
Buybacks −0.03 −0.11 −0.42 −0.50 −0.15 −0.09 −0.33 −1.10 −0.17 −0.10
Dividends paid −0.09 −0.09 −0.09 −0.08 −0.08 −0.08 −0.08 −0.09 −0.09 −0.09

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.75Total debt2.18Net cash (debt)−1.43Shareholders’ equity0.82Debt to equity2.65Fiscal year 2017Cash0.81Total debt2.39Net cash (debt)−1.57Shareholders’ equity0.97Debt to equity2.47Fiscal year 2018Cash0.51Total debt2.37Net cash (debt)−1.86Shareholders’ equity0.97Debt to equity2.43Fiscal year 2019Cash0.59Total debt2.40Net cash (debt)−1.81Shareholders’ equity1.02Debt to equity2.34Fiscal year 2020Cash0.81Total debt2.35Net cash (debt)−1.54Shareholders’ equity1.31Debt to equity1.78Fiscal year 2021Cash0.50Total debt2.81Net cash (debt)−2.32Shareholders’ equity1.67Debt to equity1.68Fiscal year 2022Cash0.85Total debt2.72Net cash (debt)−1.87Shareholders’ equity2.17Debt to equity1.25Fiscal year 2023Cash0.47Total debt3.73Net cash (debt)−3.27Shareholders’ equity2.08Debt to equity1.80Fiscal year 2024Cash0.97Total debt5.49Net cash (debt)−4.53Shareholders’ equity2.93Debt to equity1.87Fiscal year 2025Cash1.04Total debt7.26Net cash (debt)−6.22Shareholders’ equity5.34Debt to equity1.36
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.75 0.81 0.51 0.59 0.81 0.50 0.85 0.47 0.97 1.04
Total debt 2.18 2.39 2.37 2.40 2.35 2.81 2.72 3.73 5.49 7.26
Net cash (debt) −1.43 −1.57 −1.86 −1.81 −1.54 −2.32 −1.87 −3.27 −4.53 −6.22
Shareholders’ equity 0.82 0.97 0.97 1.02 1.31 1.67 2.17 2.08 2.93 5.34
Debt to equity 2.65 2.47 2.43 2.34 1.78 1.68 1.25 1.80 1.87 1.36

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Cash flow

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Operations
0.39 0.45 0.58 0.62 0.79 0.45 1.95 0.51 0.28 −0.41
Growth +16.6% +28.3% +7.3% +26.6% −42.6% +329.4% −73.7% −45.8% −248.2%
0.08 0.08 0.09 0.10 0.11 0.15 0.20 0.25 0.31 0.39
Investment
−0.13 −0.11 −0.13 −0.16 −0.16 −0.22 −0.31 −0.40 −0.56 −0.57
calc 0.26 0.34 0.45 0.47 0.63 0.24 1.64 0.11 −0.28 −0.98
Growth +30.7% +31.5% +4.1% +35.7% −62.6% +591.1% −93.3% −360.6%
calc 2.90 3.71 4.95 5.52 7.86 2.90 20.16 1.40 −3.78 −12.42
−0.13 −0.44 −0.16 −0.18 −0.19 −0.46 −0.38 −0.86 −1.59 −2.39
Financing
−0.13 0.05 −0.48 −0.53 −0.28 0.28 −0.50 −0.21 1.42 3.17
−0.09 −0.09 −0.09 −0.08 −0.08 −0.08 −0.08 −0.09 −0.09 −0.09
−0.03 −0.11 −0.42 −0.50 −0.15 −0.09 −0.33 −1.10 −0.17 −0.10

Lines marked calc are worked out here from filed figures; point at one for how. Capital expenditure, dividends and buybacks are shown as money out, so negative.