MARKETS / NASDAQ / Financials / Brokerage and capital markets / LPLA

NASDAQ · SECURITY & COMMODITY BROKERS, DEALERS, EXCHANGES & SERVICES · LARGE CAP

LPL Financial Holdings Inc. LPLA

17 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$17.0B

▲ 37.2% YoY

Net income

$863.0M

▼ 18.5% YoY

Free cash flow

$-981.8M

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

LPL Financial Holdings Inc. supports more than 32,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $2.4 trillion in brokerage and advisory assets. The company had approximately 10,000 employees as of December 31, 2025. LPL Financial LLC, a subsidiary, operates as a clearing broker-dealer and investment adviser that clears and settles customer transactions. Advisors licensed with LPL Financial conduct fee-based business on the company's corporate registered investment adviser platform as investment adviser representatives, or commission-based business on its brokerage platform as registered representatives. The company also supports approximately 600 independent firms operating as separate registered investment advisers, known as Independent RIAs, with approximately 6,240 advisors conducting business through those entities. It also provides outsourced clearing, advisory platforms and technology solutions to approximately 4,200 additional financial advisors affiliated and licensed with insurance companies. LPL Financial Holdings Inc., the parent of the business, was incorporated in Delaware in 2005.

Written from the business description in LPL Financial Holdings Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 23 February 2026. Every sentence was checked against that document before publication.

Growth

USD 17.0B

Revenue, FY2025 · full 17-year series below

Revenue $B Net income $B

FY2025 · Revenue 17.0 · Net income 0.9

10B20B

2009201220152018202120242025

Compound annual growth

Revenue

+25.5%

+23.7%

+14.8%

+12.0%

Net income

+0.7%

+12.8%

+17.7%

EPS, diluted

+1.6%

+13.3%

+20.2%

Dividend / share

+6.3%

+3.7%

Returned to shareholders

−36.9%

−13.8%

−14.5%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +23.7% a year over the five years to FY2025 — but profit grew slower: net income at +12.8%, earnings per share at +13.3%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

5 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 6.8% · Net 5.1%

5%10%-1%-2%

200920172025

ROE

FY2025 · ROE 20.9%

20%40%

200920172025

Three returns, three denominators.

Return on equity20.9%

Return on assets5.4%

Return on capital employedNot available: we don't have total assets or current liabilities for this period.

Gross margin·

Operating margin6.8%

Net margin5.1%

EBITDAUSD 1.5B

Each USD of equity produced 21 cents of profit this year.

Cash & shareholders

USD 94.4M

returned in FY2025 · dividends + net buybacks

Free cash flow $B

FY2025 · FCF -1.0

1.0B2.0B-0.4B-0.8B

200920172025

Net buybacks $B Dividends $B

FY2025 · Dividends 0.1 · Net buybacks -1.6

0.5B1.0B-1.0B-2.0BDividendsNet buybacks

200920112013201520172019202120232025

Dividends paidUSD 94.4M

Net buybacksUSD -1.6B

Share of profit10.9%

Consecutive raises·

USD 94.4M in dividends — 11% of the year's profit went back to shareholders.

Total assetsUSD 18.5B

EquityUSD 5.3B

CashUSD 1.0B

Gross debtUSD 7.3B

Net debtUSD 6.2B

Net debt stands at 116% of equity.

The 17-year record

17 fiscal years

Every figure from documents filed with the SEC · USD

row low → row highnegative—not applicable◌not available in our data

LPLA, 17-year financial record
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Revenue $B	17.0	12.4	10.1	8.6	7.7	5.9	5.6	5.2	4.3	4.0	4.3	4.4	4.1	3.7	3.5	3.1	2.7
Operating income $B	1.1	1.4	1.4	1.1	0.6	0.6	0.7	0.6	0.4	0.3	0.3	0.3	0.3	0.3	0.3	−0.1	0.1
EBITDA $B	1.5	1.7	1.7	1.3	0.8	0.7	0.8	0.7	0.4	0.4	0.4	0.4	0.3	0.3	0.3	−0.0	0.1
Income tax $B	0.3	0.3	0.4	0.3	0.1	0.2	0.2	0.2	0.1	0.1	0.1	0.1	0.1	0.1	0.1	−0.0	0.0
Net income $B	0.9	1.1	1.1	0.8	0.5	0.5	0.6	0.4	0.2	0.2	0.2	0.2	0.2	0.2	0.2	−0.1	0.0
Free cash flow $B	−1.0	−0.3	0.1	1.6	0.2	0.6	0.5	0.4	0.3	0.3	0.2	0.1	0.1	0.2	0.4	−0.0	0.3
EPS, diluted $	10.92	14.03	13.69	10.40	5.63	5.86	6.62	4.85	2.59	2.13	1.74	1.75	1.72	1.37	1.50	−0.64	0.47
Dividend / sh $	1.20	1.20	1.20	1.00	1.00	1.00	1.00	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌
Payout %	11	8	9	9	17	17	15	20	38	46	57	54	37	164	0	−0	—
ROE %	20.9	42.3	50.2	44.1	30.8	40.4	56.0	45.3	26.7	25.0	20.0	17.2	16.2	12.2	13.5	−5.6	5.6

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Other companies filing in the same sector

UNH · BRK-A · BRK-B · CI · ELV · CNC

Provenance

Company facts, as filed

How we verify · 0 failures in 50 reconciliationsAUDITED

Reconciled in 17 of the 17 fiscal years we could check. Three checks were skipped: the balance sheet is not tagged before 2010. Two checks were skipped: EPS is not tagged before 2009.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures

ActivitySecurity & Commodity Brokers, Dealers, Exchanges & Services

Listed onNASDAQ

Incorporated inDelaware

Fiscal year endsDecember 31

Data on record since2009

LPL Financial Holdings Inc. LPLA

What this company does

Growth↗ Share

Profitability↗ Share

Cash & shareholders↗ Share

The 17-year record

Other companies filing in the same sector

Company facts, as filed

Growth

Profitability

Cash & shareholders