LPLANasdaqSecurity & Commodity Brokers, Dealers, Exchanges & ServicesFiscal year ends December 31
LPL Financial Holdings Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 3, 2026
$316.16−4.80 (-1.50%)
Close on Oct 19, 2026
- Market cap
- $25.30B
- P/E (TTM)
- 25.2
- Dividend yield
- 0.38%
Margins
Share of revenue, fiscal years 2011 to 2025
Net margin
5.1%−3.0 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +37.2% | +25.5% | +23.7% | +14.8% | |
| Net income | -18.5% | +0.7% | +12.8% | +17.7% | |
| EPS, diluted | -22.2% | +1.6% | +13.3% | +20.2% | |
| Dividend per share | 0.0% | +6.3% | +3.7% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 25.0% | 40.4% | 20.9% | |
| Return on assets | 4.1% | 7.6% | 5.4% | |
| Capex to revenue | 3.2% | 2.6% | 3.4% | |
| Diluted shares | 90M | 81M | 79M |
Where the cash went
Fiscal 2021 to 2025, five years combined
LPL Financial generated $3.60B from operations and spent $4.28B on capital expenditure, dividends and share buybacks. 48% of that went back into the business.
Generated
$3.60B
Used
$4.28B
Capital expenditure$2.06B48%Dividends$436.26M10%Share buybacks$1.79B42%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin5.1%
×Asset turnover1.07×
×Equity multiplier3.84×
=Return on equity, FY202520.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 5.1% | 1.07× | 3.84× | 20.9% |
| FY2024 | 8.5% | 1.05× | 4.73× | 42.3% |
| FY2023 | 10.6% | 1.01× | 4.68× | 50.2% |
| FY2022 | 9.8% | 0.98× | 4.55× | 44.1% |
| FY2021 | 6.0% | 1.06× | 4.89× | 30.8% |
| FY2020 | 8.0% | 0.94× | 5.33× | 40.4% |
| FY2019 | 10.0% | 0.99× | 5.68× | 56.0% |
| FY2018 | 8.5% | 0.96× | 5.59× | 45.3% |
| FY2017 | 5.6% | 0.84× | 5.71× | 26.7% |
| FY2016 | 4.7% | 0.87× | 6.09× | 25.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
2of 6 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$863.02M
- Cash generatingOperating cash flow above zero-$411.40M
- Return on assets improvedROA up on the prior year10.2% → 6.5%
- Earnings backed by cashOperating cash flow above net income-$411.40M vs $863.02M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise75M → 79M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose1.19 → 1.28