LPL Financial (LPLA) financial statements
LPL Financial reported revenue of $17.0B in fiscal 2025, up 17.3% a year over 9 years.
Net income was $863M.
Free cash flow was -$982M, and the company returned $94M in dividends and $100M in net buybacks.
The diluted share count fell 12% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from LPL Financial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.0B | $4.3B | $5.2B | $5.6B | $5.9B | $7.7B | $8.6B | $10.1B | $12.4B | $17.0B |
| Operating income | — | — | — | $742M | $626M | $601M | $1.1B | $1.4B | $1.4B | $1.1B |
| Interest expense | — | — | — | $130M | $106M | $104M | $126M | $187M | $274M | $403M |
| Pre-tax income | $298M | $365M | $593M | $742M | $626M | $601M | $1.1B | $1.4B | $1.4B | $1.1B |
| Income tax | $106M | $126M | $153M | $182M | $153M | $141M | $266M | $379M | $334M | $286M |
| Net income | $192M | $239M | $439M | $560M | $473M | $460M | $846M | $1.1B | $1.1B | $863M |
| EPS (diluted) | $2.13 | $2.59 | $4.85 | $6.62 | $5.86 | $5.63 | $10.40 | $13.69 | $14.03 | $10.92 |
| Diluted shares | 90M | 92M | 91M | 85M | 81M | 82M | 81M | 78M | 75M | 79M |
| Operating margin | — | — | — | 13.2% | 10.7% | 7.8% | 12.9% | 14.4% | 11.2% | 6.8% |
| Net margin | 4.7% | 5.6% | 8.5% | 10.0% | 8.0% | 6.0% | 9.8% | 10.6% | 8.5% | 5.1% |
Balance sheet
Fiscal years, from LPL Financial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $748M | $811M | $511M | $590M | $851M | $544M | $900M | $557M | $1.0B | $1.1B |
| Property, plant and equipment | $387M | $413M | $461M | $533M | $583M | $659M | $780M | $933M | $1.2B | $1.4B |
| Goodwill | $1.4B | $1.4B | $1.5B | $1.5B | $1.5B | $1.6B | $1.6B | $1.9B | $2.2B | $2.6B |
| Total assets | $4.8B | $5.4B | $5.5B | $5.9B | $6.6B | $8.0B | $9.5B | $10.4B | $13.3B | $18.5B |
| Total liabilities | $4.0B | $4.4B | $4.5B | $4.9B | $5.3B | $6.3B | $7.3B | $8.3B | $10.4B | $13.1B |
| Shareholders' equity | $821M | $965M | $974M | $1.0B | $1.3B | $1.7B | $2.2B | $2.1B | $2.9B | $5.3B |
| Net debt | -$748M | -$811M | -$511M | -$590M | -$809M | -$495M | -$848M | -$466M | -$967M | -$1.0B |
Cash flow
Fiscal years, from LPL Financial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $389M | $453M | $582M | $624M | $790M | $453M | $1.9B | $513M | $278M | -$411M |
| Capital spending | $128M | $112M | $133M | $156M | $156M | $216M | $307M | $403M | $563M | $570M |
| Free cash flow | $261M | $341M | $449M | $467M | $634M | $237M | $1.6B | $109M | -$285M | -$982M |
| Stock-based compensation | $25M | $29M | $29M | $33M | $34M | $44M | $53M | $69M | $92M | $79M |
| Dividends paid | $89M | $90M | $88M | $83M | $79M | $80M | $80M | $92M | $90M | $94M |
| Share buybacks (net) | -$25M | -$114M | -$418M | -$500M | -$150M | -$90M | -$325M | -$1.1B | -$170M | -$100M |
| Net borrowing | — | — | -$15M | -$411M | -$11M | — | — | — | — | — |
| Free cash flow margin | 6.5% | 8.0% | 8.7% | 8.3% | 10.8% | 3.1% | 19.1% | 1.1% | -2.3% | -5.8% |
| Dividends per share | $0.99 | $0.98 | $0.98 | $0.98 | $0.98 | $0.98 | $0.98 | $1.18 | $1.19 | $1.19 |
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Open LPLA in InvestinglyQuestions
What was LPL Financial's revenue in 2025?
$17.0B in fiscal 2025, from its 10-K filing.
How much free cash flow does LPL Financial generate?
-$982M in fiscal 2025 (operating cash flow minus capital spending).
From LPL Financial's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.