LPLA financial statements

The full income statement, balance sheet, and cash-flow statement for LPL Financial Holdings Inc. (LPLA), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 74.8M2024-09 74.9M2024-12 74.6M2025-03 75.1M2025-06 80.0M2025-09 80.0M2025-12 80.1M2026-03 80.0M2026-06 78.7M+5.3% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	17.0B YoY+37.2%	12.4B YoY+23.2%	10.1B YoY+16.9%	8.60B YoY+11.4%	7.72B YoY+31.5%
Amortization of intangibles	237M YoY+74.9%	135M YoY+26.1%	107M YoY+22.4%	87.6M YoY+10.5%	79.3M YoY+17.7%
Provision for credit losses	17.0M YoY-10.5%	19.0M YoY+19.0%	15.9M YoY+16.7%	13.7M YoY+49.1%	9.17M YoY+57.4%
Interest expense	403M YoY+47.1%	274M YoY+46.8%	187M YoY+48.0%	126M YoY+20.9%	104M YoY-1.3%
Interest & investment income	232M YoY+23.5%	188M YoY+17.7%	159M YoY+106.7%	77.1M YoY+169.9%	28.6M YoY-2.8%
Pre-tax income	1.15B YoY-17.5%	1.39B YoY-3.6%	1.44B YoY+30.0%	1.11B YoY+84.9%	601M YoY-4.0%
Income tax	286M YoY-14.3%	334M YoY-11.7%	379M YoY+42.3%	266M YoY+88.0%	141M YoY-7.8%
Net income	863M YoY-18.5%	1.06B YoY-0.7%	1.07B YoY+26.1%	846M YoY+83.9%	460M YoY-2.7%
	$10.92 YoY-22.2%	$14.03 YoY+2.5%	$13.69 YoY+31.6%	$10.40 YoY+84.7%	$5.63 YoY-3.9%
EPS (basic)	$10.97 YoY-22.6%	$14.17 YoY+2.1%	$13.88 YoY+30.9%	$10.60 YoY+84.3%	$5.75 YoY-3.5%
	78.7M YoY+5.3%	74.7M YoY-2.7%	76.8M YoY-3.8%	79.8M YoY-0.3%	80.0M YoY+1.0%
	79.1M YoY+4.8%	75.4M YoY-3.1%	77.9M YoY-4.2%	81.3M YoY-0.6%	81.7M YoY+1.3%
Dividends per share	$1.20 YoY+0.0%	$1.20 YoY+0.0%	$1.20 YoY+20.0%	$1.00 YoY+0.0%	$1.00 YoY+0.0%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash & equivalents	1.04B YoY+7.3%	967M YoY+107.7%	466M YoY-45.1%	848M YoY+71.1%	495M YoY-38.8%
Short-term investments	91.5M YoY+59.2%	57.5M YoY-37.0%	91.3M YoY+73.6%	52.6M YoY+6.9%	49.2M YoY+15.8%
	18.5B YoY+38.9%	13.3B YoY+28.2%	10.4B YoY+9.5%	9.48B YoY+18.7%	7.99B YoY+21.2%
Property, plant & equipment	1.41B YoY+16.5%	1.21B YoY+29.7%	933M YoY+19.6%	780M YoY+18.4%	659M YoY+13.0%
Operating lease right-of-use	174M YoY+45.7%	119M YoY+27.0%	93.8M YoY+1.4%	92.5M YoY-2.7%	95.1M YoY-6.7%
Goodwill	2.64B YoY+21.7%	2.17B YoY+17.0%	1.86B YoY+13.0%	1.64B YoY+0.0%	1.64B YoY+8.5%
Intangible assets	3.33B YoY+124.6%	1.48B YoY+120.8%	672M YoY+57.0%	428M YoY-6.0%	455M YoY+14.5%
Deferred tax assets	78.2M YoY-39.8%	130M YoY-22.4%	167M YoY+69.1%	99.0M YoY+1652.8%	5.65M YoY-76.6%
	13.1B YoY+26.6%	10.4B YoY+25.0%	8.31B YoY+13.6%	7.31B YoY+15.7%	6.32B YoY+19.7%
Long-term debt	7.26B YoY+32.1%	5.49B YoY+47.1%	3.73B YoY+37.4%	2.72B YoY-3.4%	2.81B YoY+20.0%
Operating lease liability (total)	204M YoY+38.1%	148M YoY+19.6%	123M YoY-1.4%	125M YoY-3.9%	130M YoY-6.5%
Finance lease liability (total)	0.00 YoY-100.0%	105M YoY-0.3%	105M YoY-0.2%	106M YoY-0.4%	106M YoY-1.3%
	5.34B YoY+82.4%	2.93B YoY+41.0%	2.08B YoY-4.1%	2.17B YoY+29.8%	1.67B YoY+27.1%
Common stock	136K YoY+3.8%	131K YoY+0.8%	130K YoY+0.0%	130K YoY+0.8%	129K YoY+1.6%
Additional paid-in capital	3.84B YoY+86.0%	2.07B YoY+4.0%	1.99B YoY+3.9%	1.91B YoY+3.9%	1.84B YoY+4.5%
Retained earnings	5.84B YoY+15.2%	5.07B YoY+24.0%	4.09B YoY+31.7%	3.10B YoY+33.2%	2.33B YoY+19.8%
Treasury stock	4.33B YoY+3.1%	4.20B YoY+5.2%	3.99B YoY+40.3%	2.85B YoY+13.9%	2.50B YoY+4.5%
Total liabilities & equity	18.5B YoY+38.9%	13.3B YoY+28.2%	10.4B YoY+9.5%	9.48B YoY+18.7%	7.99B YoY+21.2%
	137M YoY+4.4%	131M YoY+0.5%	130M YoY+0.4%	130M YoY+0.7%	129M YoY+0.9%
	80.1M YoY+7.4%	74.6M YoY+0.2%	74.5M YoY-5.4%	78.7M YoY-1.6%	80.0M YoY+0.4%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	-411M YoY-248.2%	278M YoY-45.8%	513M YoY-73.7%	1.95B YoY+329.4%	453M YoY-42.6%
Depreciation & amortization	393M YoY+27.5%	309M YoY+24.9%	247M YoY+23.6%	200M YoY+32.0%	151M YoY+38.0%
Intangible amortization	237M YoY+74.9%	135M YoY+26.1%	107M YoY+22.4%	87.6M YoY+10.5%	79.3M YoY+17.7%
Share-based compensation	79.4M YoY-13.5%	91.8M YoY+33.6%	68.7M YoY+30.5%	52.6M YoY+19.1%	44.2M YoY+30.0%
Deferred income taxes	52.9M YoY+169.4%	-76.2M YoY-11.4%	-68.5M YoY+26.7%	-93.3M YoY-605.6%	18.5M YoY+178.0%
	-2.39B YoY-49.9%	-1.59B YoY-85.1%	-860M YoY-128.5%	-376M YoY+17.9%	-459M YoY-144.6%
Capital expenditure	570M YoY+1.4%	563M YoY+39.5%	403M YoY+31.5%	307M YoY+42.0%	216M YoY+38.9%
Free cash flow	-982M YoY-244.6%	-285M YoY-360.6%	109M YoY-93.3%	1.64B YoY+591.1%	237M YoY-62.6%
Acquisitions	1.79B YoY+75.2%	1.02B YoY+125.0%	453M YoY+703.2%	56.5M YoY-77.0%	246M YoY+704.8%
	3.17B YoY+123.6%	1.42B YoY+779.7%	-209M YoY+58.6%	-504M YoY-280.8%	279M YoY+201.3%
Long-term debt issued	2.74B YoY+175.0%	998M YoY+33.2%	749M	0.00 YoY-100.0%	1.30B
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00 YoY-100.0%
Common stock issued	1.73B	0.00	0.00	0.00	0.00
Common stock repurchased	100M YoY-41.2%	170M YoY-84.5%	1.10B YoY+238.5%	325M YoY+261.1%	90.0M YoY-40.0%
Dividends paid	94.4M YoY+5.2%	89.7M YoY-2.7%	92.2M YoY+15.5%	79.8M YoY-0.3%	80.1M YoY+1.3%
Net change in cash	371M YoY+260.3%	103M YoY+118.5%	-556M YoY-152.2%	1.06B YoY+289.6%	273M YoY-16.5%
Interest paid	380M YoY+41.6%	268M YoY+40.2%	191M YoY+61.0%	119M YoY+14.6%	104M YoY-3.0%
Income taxes paid	329M YoY+2.6%	320M YoY-40.2%	536M YoY+125.0%	238M YoY+64.7%	145M YoY-14.6%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	28.6B YoY+17.5%	24.3B YoY+41.5%	17.2B YoY+0.0%	17.2B YoY+34.4%	12.8B YoY+54.2%
P/E	33.1× YoY+44.1%	23.0× YoY+56.0%	14.7× YoY-45.6%	27.1× YoY-2.6%	27.8× YoY+58.4%
P/S	1.7× YoY-14.4%	2.0× YoY+11.3%	1.8× YoY-14.1%	2.1× YoY+24.1%	1.7× YoY+17.2%
P/B	5.4× YoY-35.6%	8.3× YoY+0.9%	8.2× YoY-4.3%	8.6× YoY+12.3%	7.7× YoY+21.3%
P/FCF	—	—	—	8.3× YoY-84.6%	54.0× YoY+312.4%
	3.0% YoY-30.6%	4.3% YoY-35.9%	6.8% YoY+83.9%	3.7% YoY+2.7%	3.6% YoY-36.9%
	—	—	—	12.0% YoY+548.6%	1.9% YoY-75.8%
	0.34% YoY-8.6%	0.37% YoY-30.3%	0.53% YoY+14.0%	0.46% YoY-25.9%	0.62% YoY-34.9%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: LPLA's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all LPLA filings on SEC EDGAR → Not investment advice.