LPL Financial Holdings Inc. (LPLA) financial statements: income statement, balance sheet and cash flow
LPL Financial Holdings Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), LPL Financial Holdings Inc. reported revenue of $17.0B (+37.2% year on year) and net income of $863.0M (-18.5% year on year).
Income statement
LPL Financial Holdings Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Advisory
$8.2B
$5.5B
$4.1B
$3.9B
Commission
$4.5B
$3.3B
$2.6B
$2.3B
Asset-based
$3.0B
$2.5B
$2.4B
$1.8B
Service and fee
$652.4M
$552.0M
$508.4M
$467.4M
Transaction and fee
$270.8M
$236.3M
$199.9M
$181.3M
Interest income, net
$231.6M
$187.6M
$159.4M
$77.1M
Other
$172.4M
$144.2M
$119.0M
($86.5M)
Total net revenues
$17.0B
$12.4B
$10.1B
$8.6B
Commission and advisory
$11.2B
$7.8B
$5.9B
$5.3B
Compensation and benefits
$1.6B
$1.1B
$979.7M
$820.7M
Promotional
$737.2M
$589.3M
$459.2M
$340.0M
Occupancy and equipment
$577.2M
$281.2M
$248.6M
$219.8M
Depreciation, Depletion and Amortization, Nonproduction
$393.4M
$308.5M
$247.0M
$199.8M
Interest Expense, Debt
$403.4M
$274.2M
$186.8M
$126.2M
Brokerage, clearing, and exchange
$178.1M
$127.9M
$106.0M
$86.1M
Amortization of other intangibles
$236.6M
$135.2M
$107.2M
$87.6M
Professional services
$218.7M
$93.7M
$72.6M
$72.5M
Communications and data processing
$85.8M
$75.8M
$75.7M
$67.7M
Other
$219.3M
$218.5M
$209.4M
$143.9M
Total expense
$15.8B
$11.0B
$8.6B
$7.5B
INCOME BEFORE PROVISION FOR INCOME TAXES
$1.1B
$1.4B
$1.4B
$1.1B
Effective income tax rate
$286.5M
$334.3M
$378.5M
$266.0M
NET INCOME
$863.0M
$1.1B
$1.1B
$845.7M
Earnings Per Share, Basic
$10.97
$14.17
$13.88
$10.60
Earnings Per Share, Diluted
$10.92
$14.03
$13.69
$10.40
Weighted-average shares outstanding, basic
78.7M
74.7M
76.8M
79.8M
Weighted-average shares outstanding, diluted
79.1M
75.4M
77.9M
81.3M
LPL Financial Holdings Inc. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Advisory
$2.6B
$2.6B
$2.2B
$1.7B
Commission
$1.2B
$1.2B
$1.2B
$1.0B
Asset-based
$835.1M
$820.8M
$782.3M
$702.3M
Service and fee
$208.9M
$211.0M
$174.7M
$151.8M
Transaction and fee
$83.2M
$80.5M
$67.3M
$60.5M
Interest Income
$46.5M
$45.2M
$60.9M
$76.9M
Other
$148.4M
($26.2M)
$68.9M
$87.5M
Total net revenues
$5.2B
$4.9B
$4.6B
$3.8B
Advisory and commission
$3.5B
$3.3B
$3.0B
$2.5B
Compensation and benefits
$355.6M
$368.7M
$585.4M
$319.1M
Promotional
$220.0M
$208.4M
$208.5M
$177.6M
Occupancy and equipment
$125.5M
$118.5M
$299.7M
$81.4M
Depreciation and amortization
$109.8M
$105.8M
$99.7M
$96.2M
Interest Expense, Debt
$101.5M
$100.3M
$106.3M
$105.6M
Brokerage, clearing and exchange
$52.0M
$55.5M
$43.3M
$43.3M
Amortization of intangible assets
$70.9M
$67.2M
$64.7M
$46.1M
Professional services
$50.8M
$50.4M
$75.5M
$41.1M
Communications and data processing
$26.2M
$23.5M
$23.1M
$21.4M
Other
$51.6M
$64.4M
$54.6M
$51.2M
Costs and Expenses, Total
$4.7B
$4.5B
$4.6B
$3.5B
INCOME BEFORE PROVISION FOR INCOME TAXES
$515.5M
$484.6M
($34.1M)
$368.8M
PROVISION FOR INCOME TAXES
$136.2M
$128.2M
($4.6M)
$95.6M
NET INCOME
$379.3M
$356.4M
($29.5M)
$273.2M
Earnings per share, basic
$4.75
$4.45
-$0.37
$3.42
Earnings per share, diluted
$4.74
$4.43
-$0.37
$3.40
Weighted-average shares outstanding, basic
79.8M
80.1M
80.0M
80.0M
Weighted-average shares outstanding, diluted
80.0M
80.4M
80.4M
80.4M
Balance sheet
LPL Financial Holdings Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and equivalents
$1.0B
$967.1M
$465.7M
$847.5M
Cash and equivalents segregated under federal or other regulations
$1.8B
$1.6B
$2.0B
$2.2B
Restricted cash
$225.3M
$119.7M
$108.2M
$90.4M
Receivables from clients, net
$803.2M
$633.8M
$588.6M
$561.6M
Receivables from brokers, dealers and clearing organizations
$70.9M
$76.5M
$50.1M
$56.3M
Advisor loans, net
$3.7B
$2.3B
$1.5B
$1.1B
Other receivables, net
$1.2B
$902.8M
$743.3M
$677.8M
Investment securities
$91.5M
$57.5M
$91.3M
$52.6M
Property and equipment, net
$1.4B
$1.2B
$933.1M
$780.4M
Goodwill
$2.6B
$2.2B
$1.9B
$1.6B
Other intangibles, net
$3.3B
$1.5B
$671.6M
$427.7M
Other assets
$2.2B
$1.8B
$1.4B
$1.0B
Total assets
$18.5B
$13.3B
$10.4B
$9.5B
Client payables
$2.3B
$1.9B
$2.3B
$2.7B
Payables to brokers, dealers and clearing organizations
$150.5M
$129.2M
$163.3M
$147.8M
Accrued advisory and commission expenses payable
$361.6M
$324.0M
$216.5M
$203.3M
Corporate debt and other borrowings, net
$7.3B
$5.5B
$3.7B
$2.7B
Accounts payable and accrued liabilities
$821.6M
$588.5M
$486.0M
$448.6M
Other Liabilities
$2.2B
$2.0B
$1.4B
$1.1B
Liabilities, Total
$13.1B
$10.4B
$8.3B
$7.3B
Common stock, $0.001 par value; 600,000,000 shares authorized; 136,637,544 shares and 130,914,541 shares issued at December 31, 2025 and 2024, respectively
136.0K
131.0K
130.0K
130.0K
Additional paid-in capital
$3.8B
$2.1B
$2.0B
$1.9B
Treasury stock, at cost — 56,576,672 shares and 56,253,909 shares at December 31, 2025 and 2024, respectively
-4.3B
-4.2B
-4.0B
-2.8B
Retained earnings
$5.8B
$5.1B
$4.1B
$3.1B
Total stockholders’ equity
$5.3B
$2.9B
$2.1B
$2.2B
Total liabilities and stockholders’ equity
$18.5B
$13.3B
$10.4B
$9.5B
LPL Financial Holdings Inc. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$1.3B
$1.0B
$1.3B
$4.2B
Cash and equivalents segregated under federal or other regulations
$1.4B
$1.7B
$1.2B
$1.6B
Restricted cash
$232.9M
$225.8M
$228.2M
$116.7M
Receivables from clients, net
$994.1M
$866.5M
$777.9M
$710.5M
Receivables from brokers, dealers and clearing organizations
$244.3M
$100.0M
$81.3M
$129.5M
Advisor loans, net
$3.9B
$3.7B
$3.6B
$2.5B
Other receivables, net
$1.4B
$1.4B
$1.1B
$951.1M
Investment securities
$203.5M
$100.3M
$215.2M
$140.0M
Property and equipment, net
$1.6B
$1.5B
$1.3B
$1.3B
Goodwill
$2.7B
$2.7B
$2.7B
$2.2B
Intangible Assets, Net (Excluding Goodwill)
$3.4B
$3.4B
$3.3B
$1.6B
Other assets
$2.4B
$2.2B
$2.1B
$2.0B
Total assets
$19.8B
$18.8B
$18.0B
$17.5B
Payables to clients
$2.3B
$2.1B
$2.0B
$2.1B
Payables to broker-dealers and clearing organizations
$599.4M
$307.7M
$195.7M
$273.6M
Accrued advisory and commission expenses payable
$381.3M
$370.2M
$355.5M
$303.6M
Long-term Debt
$7.5B
$7.2B
$7.5B
$7.2B
Accounts payable and accrued liabilities
$812.2M
$744.9M
$768.2M
$556.1M
Other Liabilities, Noncurrent
$2.5B
$2.4B
$2.2B
$2.0B
Total liabilities
$14.0B
$13.1B
$13.0B
$12.4B
Common stock, shares issued
136.8M
—
—
—
Common stock, $0.001 par value; 600,000,000 shares authorized; 136,822,289 and 136,637,544 shares issued at June 30, 2026 and December 31, 2025, respectively
137.0K
137.0K
136.0K
136.0K
Additional paid-in capital
$3.9B
$3.9B
$3.8B
$3.8B
Retained earnings
($4.7B)
($4.4B)
($4.3B)
($4.3B)
Retained earnings
$6.5B
$6.2B
$5.6B
$5.6B
Total stockholders' equity
$5.8B
$5.7B
$5.0B
$5.1B
Total liabilities and stockholders' equity
$19.8B
$18.8B
$18.0B
$17.5B
Cash flow statement
LPL Financial Holdings Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$863.0M
$1.1B
$1.1B
$845.7M
Depreciation and amortization
$393.4M
$308.5M
$247.0M
$199.8M
Amortization of other intangibles
$236.6M
$135.2M
$107.2M
$87.6M
Amortization of debt issuance costs
$21.6M
$11.3M
$8.7M
$6.9M
Share-based compensation
$79.4M
$91.8M
$68.7M
$52.6M
Provision for credit losses
$17.0M
$19.0M
$15.9M
$13.7M
Deferred provision (benefit) for income taxes
$52.9M
($76.2M)
($68.5M)
($93.3M)
Loan forgiveness
$430.8M
$292.4M
$223.5M
$179.5M
Unrealized loss on deferred compensation plans
$72.8M
$66.5M
—
—
Change in estimated fair value of contingent consideration
$24.2M
$41.7M
—
—
Other
($4.9M)
($25.3M)
$39.2M
$14.8M
Receivables from clients, net
($175.8M)
($45.8M)
($28.1M)
$17.3M
Receivables from brokers, dealers and clearing organizations
$7.5M
($12.7M)
$6.2M
$46.2M
Advisor loans, net
($1.8B)
($1.1B)
($594.4M)
($341.9M)
Other receivables, net
($270.4M)
($126.8M)
($71.3M)
($107.6M)
Investment securities - trading
$11.6M
$34.2M
($39.0M)
($73.0K)
Other assets
($413.3M)
($435.3M)
($213.0M)
($148.3M)
Client payables
$409.1M
($367.5M)
($428.8M)
$982.7M
Payables to brokers, dealers and clearing organizations
$21.3M
($34.1M)
$15.6M
($22.4M)
Accrued advisory and commission expenses payable
$23.2M
$74.7M
$11.4M
($19.1M)
Accounts payable and accrued liabilities
$161.3M
$37.0M
$31.3M
$50.7M
Other liabilities
($617.8M)
$336.4M
$117.8M
$183.4M
Operating lease assets
($3.0M)
($1.9M)
($3.1M)
($2.6M)
Net cash (used in) provided by operating activities
($411.4M)
$277.6M
$512.6M
$1.9B
Capital expenditures
($570.4M)
($562.5M)
($403.3M)
($306.6M)
Acquisitions, net of cash acquired
($1.8B)
($1.0B)
($453.5M)
($56.5M)
Purchases of securities classified as held-to-maturity
($5.1M)
($4.8M)
($4.7M)
($10.9M)
Proceeds from maturities of securities classified as held-to-maturity
$5.1M
$5.0M
$5.5M
$5.0M
Payments to Acquire Investments
($29.1M)
$0
($4.2M)
($7.4M)
Proceeds from Sale of Other Investments
$7.3M
—
—
—
Interest Costs Capitalized
($6.8M)
($9.6M)
—
—
Net cash used in investing activities
($2.4B)
($1.6B)
($860.2M)
($376.4M)
Proceeds from revolving credit facilities
$876.0M
$1.4B
$1.7B
$815.0M
Repayments of revolving credit facilities
($1.8B)
($663.0M)
($1.4B)
($905.0M)
Proceeds from senior unsecured term loans
$0
$1.0B
—
—
Repayment of senior secured term loans
$0
($1.0B)
($10.7M)
($10.7M)
Proceeds from senior unsecured notes
$2.7B
$998.3M
$749.5M
$0
Payment of debt issuance costs
($31.2M)
($17.9M)
($13.5M)
($1.9M)
Payment of equity issuance costs
($47.8M)
—
$0
$0
Payment of contingent consideration
$47.4M
$50.1M
$0
$0
Tax payments related to settlement of restricted stock units
($33.5M)
($41.3M)
($40.0M)
($25.2M)
Proceeds from Issuance of Common Stock
$1.7B
—
—
—
Repurchase of common stock
($100.0M)
($170.1M)
($1.1B)
($325.0M)
Dividends on common stock
($94.4M)
($89.7M)
($92.2M)
($79.8M)
Proceeds from stock option exercises and other
$22.2M
$28.7M
$18.7M
$28.7M
LPL Financial Holdings Inc. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$735.7M
$356.4M
$562.3M
$591.8M
Depreciation and amortization
$215.6M
$105.8M
$288.3M
$188.6M
Amortization of intangible assets
$138.1M
$67.2M
$154.3M
$89.6M
Amortization of debt issuance costs
$7.0M
$3.5M
$18.1M
$14.6M
Share-based compensation
$46.6M
$23.1M
$59.0M
$39.6M
Provision for bad debts
$13.7M
$8.5M
$9.0M
$3.2M
Deferred income taxes
$4.7M
($21.9M)
($349.0K)
($178.0K)
Change in estimated fair value of contingent consideration
$4.7M
$7.5M
$9.6M
$6.9M
Loan forgiveness
$283.5M
$138.6M
$295.4M
$187.6M
Other
$4.1M
$3.1M
$5.2M
$5.0M
Receivables from clients
($190.8M)
($63.1M)
($144.4M)
($75.8M)
Receivables from product sponsors, broker-dealers and clearing organizations
($173.4M)
($29.1M)
($2.9M)
($52.9M)
Advisor loans, net
($503.0M)
($206.5M)
($1.6B)
($449.5M)
Receivables from others
($231.9M)
($160.0M)
($136.9M)
($68.0M)
Increase (Decrease) in Debt Securities, Trading, and Equity Securities, FV-NI
($108.8M)
($10.0M)
($111.5M)
($82.1M)
Operating leases
($6.7M)
($4.2M)
($1.0M)
$361.0K
Other assets
($128.2M)
($53.9M)
($238.0M)
($189.9M)
Payables to clients
($51.9M)
($191.3M)
$97.4M
$191.9M
Payables to broker-dealers and clearing organizations
$448.9M
$157.2M
$66.5M
$144.4M
Accrued advisory and commission expenses payable
$19.6M
$8.6M
$17.0M
($20.4M)
Accounts payable and accrued liabilities
($17.3M)
($72.6M)
$110.8M
($32.4M)
Increase (Decrease) in Other Operating Liabilities
$182.4M
$223.7M
($688.3M)
$40.9M
Net cash provided by operating activities
$692.4M
$290.4M
($1.2B)
$533.1M
Capital expenditures
($365.2M)
($165.8M)
($398.7M)
($256.5M)
Acquisitions, net of cash acquired
($234.1M)
($131.4M)
($1.7B)
($190.1M)
Purchases of securities classified as held-to-maturity
($2.5M)
($1.2M)
($3.8M)
($2.5M)
Proceeds from maturity of securities classified as held-to-maturity
$2.5M
$1.3M
$3.9M
$2.5M
Purchases of other investments
($12.1M)
($12.1M)
—
—
Capitalized interest
($5.6M)
($2.3M)
($4.5M)
($3.0M)
Net cash used in investing activities
($617.0M)
($311.5M)
($2.1B)
($449.6M)
Proceeds from revolving credit facilities
$980.0M
$295.0M
$613.0M
$69.0M
Repayments of revolving credit facilities
($783.0M)
($374.0M)
($1.3B)
($1.1B)
Proceeds from senior unsecured notes
$0
$0
$2.7B
$2.7B
Payment of debt issuance costs
($1.2M)
$0
($31.0M)
($31.0M)
Payment of contingent consideration
($29.1M)
($10.1M)
($34.9M)
($33.2M)
Tax payments related to settlement of restricted stock units
($20.1M)
($19.2M)
($32.6M)
($31.0M)
Proceeds from Issuance of Common Stock
$0
—
$1.7B
$1.7B
Incremental costs associated with issuance
$0
—
($47.8M)
($47.8M)
Repurchase of common stock
($309.5M)
$0
($100.0M)
($100.0M)
Dividends on common stock
($48.0M)
($24.1M)
($70.4M)
($46.4M)
Proceeds from stock option exercises and other
$10.2M
$5.0M
$16.9M
$12.6M
Principal payment of financing obligation
($730.0K)
($348.0K)
($559.0K)
($222.0K)
Principal payment of finance leases and obligations
$0
$0
($209.0K)
($209.0K)
Net cash (used in) provided by financing activities
($201.4M)
($127.7M)
$3.5B
$3.1B
NET (DECREASE) INCREASE IN CASH AND EQUIVALENTS, CASH AND EQUIVALENTS SEGREGATED UNDER FEDERAL OR OTHER REGULATIONS AND RESTRICTED CASH