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LPL Financial Holdings Inc. LPLA

Nasdaq · stock · Security & Commodity Brokers, Dealers, Exchanges & Services · website · IPO 2010-11-18 · LEI

LPL Financial Holdings Inc. statistics & valuation

Market cap$21.5B
P / E24.9×
P / S1.3×
P / B4.0×
Dividend yield0.44%
Net margin5.1%
Return on equity16.1%
FCF margin-5.8%
Net debt$6.2B
Enterprise value USD$27.7B
Graham number -65.8%$128.88

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($128.88); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
4.70% 5.60% 8.50% 10.00% 8.00% 6.00% 9.80% 10.60% 8.50% 5.10% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
2016201720182019202020212022202320242025
Return on equity (%)
23.40% 24.80% 45.10% 54.70% 35.90% 27.50% 39.00% 51.30% 36.10% 16.10% 2016201720182019202020212022202320242025
Shares outstanding
90.0M 92.1M 90.6M 84.6M 80.7M 81.7M 81.3M 77.9M 75.4M 79.1M 2016201720182019202020212022202320242025
Net debt ($)
$1.43B $1.57B $1.86B $1.81B $1.54B $2.32B $1.87B $3.27B $4.53B $6.22B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
4.00% 4.50% 8.00% 9.50% 7.20% 5.80% 8.90% 10.30% 7.90% 4.70% 2016201720182019202020212022202320242025
Free cash flow margin (%)
6.50% 8.00% 8.70% 8.30% 10.80% 3.10% 19.10% 1.10% -2.30% -5.80% 2016201720182019202020212022202320242025
Debt / equity (×)
2.65× 2.47× 2.43× 2.34× 1.78× 1.68× 1.25× 1.80× 1.87× 1.36× 2016201720182019202020212022202320242025
EPS ($)
$2.13 $2.59 $4.85 $6.62 $5.86 $5.63 $10.40 $13.69 $14.03 $10.92 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

LPL Financial Holdings Inc. trades at about 34.5× earnings — above its 10-year norm (10-year range 13.9×–33.4×, median 22.8×).

13.9× 34.5×

Shaded band = 10-year range (13.9×–33.4×); dot = today's 34.5×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Net margin5.1%8.5%10.6%9.8%6.0%8.0%10.0%8.5%5.6%4.7%
FCF margin-5.8%-2.3%1.1%19.1%3.1%10.8%8.3%8.7%8.0%6.5%
Return on assets4.7%7.9%10.3%8.9%5.8%7.2%9.5%8.0%4.5%4.0%
Return on equity16.1%36.1%51.3%39.0%27.5%35.9%54.7%45.1%24.8%23.4%
Debt / equity1.36×1.87×1.80×1.25×1.68×1.78×2.34×2.43×2.47×2.65×

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.