LPLA Stock Analysis: LPL Financial Holdings | NASDAQ
Capital Markets | NASDAQ, USA | Market Cap: 23.430m USD | 12M Return: -18.3% | US50212V1008 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 290M
EPS Trend: 97.7%
Qual. Beats: 2
Rev. Trend: 99.5%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
LPL Financial Holdings Inc. (LPLA) is a U.S.-based provider of brokerage and investment advisory services, primarily serving independent financial advisors and advisors at institutions. Its product offerings span variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance, supported by FDIC-insured bank sweep vehicles and money market account programs.
The company also operates fee-based platforms providing access to mutual funds, ETFs, stocks, bonds, options strategies, unit investment trusts, and institutional money managers, alongside retirement plan consulting and brokerage services for plan sponsors. Additional offerings include advisor practice management tools, trust and custodial services, a trading and portfolio rebalancing platform, insurance brokerage general agency services, and technology products for proposal generation, investment analytics, and portfolio modeling.
LPL operates within the Investment Banking & Brokerage sub-industry of the Financials sector and is a leading player in the independent advisor channel, a business model in which advisors affiliate with a broker-dealer rather than working as direct employees of a wirehouse or bank. The company was founded in 1989, is headquartered in San Diego, California, and was renamed from LPL Investment Holdings Inc. to LPL Financial Holdings Inc. in June 2012.
- Independent advisor net new asset growth accelerates
- Interest rate cuts compress sweep cash revenues
- Recruiting market share gains from wirehouse advisors
| Net Income: 1.39b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 15.21 > 1.0 |
| NWC/Revenue: 9.57% < 20% (prev 31.16%; Δ -21.59% < -1%) |
| CFO/TA 0.08 > 3% & CFO 1.65b > Net Income 1.39b |
| Net Debt (6.81b) to EBITDA (3.21b): 2.12 < 3 |
| Current Ratio: 1.53 > 1.5 & < 3 |
| Outstanding Shares: last quarter (79.0m) vs 12m ago -1.73% < -2% |
| Gross Margin: 27.96% > 18% (prev 24.14%; Δ 3.81% > 0.5%) |
| Asset Turnover: 107.7% > 50% (prev 86.34%; Δ 21.31% > 0%) |
| Interest Coverage Ratio: 5.99 > 6 (EBIT TTM 2.48b / Interest Expense TTM 413.2m) |
| A: 0.10 (Total Current Assets 5.61b - Total Current Liabilities 3.66b) / Total Assets 19.9b |
| B: 0.35 (Retained Earnings 6.86b / Total Assets 19.9b) |
| C: 0.13 (EBIT TTM 2.48b / Avg Total Assets 19.0b) |
| D: 0.41 (Book Value of Equity 5.81b / Total Liabilities 14.1b) |
| Altman-Z'' = 3.08 = A |
| DSRI: 0.35 (Receivables 2.55b/5.58b, Revenue 20.4b/15.6b) |
| GMI: 0.86 (GM 24.14% / 27.96%) |
| AQI: 1.47 (AQ_t 0.63 / AQ_t-1 0.43) |
| SGI: 1.31 (Revenue 20.4b / 15.6b) |
| TATA: -0.01 (NI 1.39b - CFO 1.65b) / TA 19.9b) |
| Beneish M = -3.18 (Cap -4..+1) = AA |
As of November 10, 2026, the stock is trading at USD 305.49 with a total of 681,396 shares traded. Over the past week, the price has changed by +2.30%, over one month by -7.67%, over three months by -17.84% and over the past year by -18.32%.
Current recommended Stop Loss: 270.30 (which is 11.5% or 2.7 ATR below the current price).
LPL Financial Holdings has received a consensus analysts rating of 4.28. Therefore, it is recommended to buy LPLA.
- StrongBuy: 9
- Buy: 5
- Hold: 4
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 404.1 | 32.3% |
P/E Trailing = 17.243
P/E Forward = 10.929
P/S = 1.1722
P/B = 4.1665
P/EG = 0.3945
Revenue TTM = 20.4b USD
EBIT TTM = 2.48b USD
EBITDA TTM = 3.21b USD
Long Term Debt = 7.19b USD (from longTermDebt, last quarter)
Short Term Debt = 616.0m USD (from shortLongTermDebt, last quarter)
Debt = 8.02b USD (from shortLongTermDebtTotal, last quarter) + Leases 219.8m
Net Debt = 6.81b USD (calculated: Debt 8.02b - CCE 1.21b)
Enterprise Value = 30.2b USD (23.4b + Debt 8.02b - CCE 1.21b)
Interest Coverage Ratio = 5.99 (Ebit TTM 2.48b / Interest Expense TTM 413.2m)
EV/FCF = 34.17x (Enterprise Value 30.2b / FCF TTM 884.8m)
FCF Yield = 2.93% (FCF TTM 884.8m / Enterprise Value 30.2b)
FCF Margin = 4.34% (FCF TTM 884.8m / Revenue TTM 20.4b)
Net Margin = 6.83% (Net Income TTM 1.39b / Revenue TTM 20.4b)
Gross Margin = 27.96% ((Revenue TTM 20.4b - Cost of Revenue TTM 14.7b) / Revenue TTM)
Gross Margin QoQ = 31.10% (prev 31.38%)
Tobins Q-Ratio = 1.52 (Enterprise Value 30.2b / Total Assets 19.9b)
Interest Expense / Debt = 5.15% (Interest Expense 413.2m / Debt 8.02b)
Taxrate = 26.02% (489.8m / 1.88b)
NOPAT = 1.83b (EBIT 2.48b * (1 - 26.02%))
Current Ratio = 1.53 (Total Current Assets 5.61b / Total Current Liabilities 3.66b)
Debt / Equity = 1.38 (Debt 8.02b / totalStockholderEquity, last quarter 5.81b)
Debt / EBITDA = 2.12 (Net Debt 6.81b / EBITDA 3.21b)
Debt / FCF = 7.69 (Net Debt 6.81b / FCF TTM 884.8m)
Total Stockholder Equity = 5.65b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.35% (Net Income 1.39b / Total Assets 19.9b)
RoE = 24.65% (Net Income TTM 1.39b / Total Stockholder Equity 5.65b)
RoCE = 19.30% (EBIT 2.48b / Capital Employed (Equity 5.65b + L.T.Debt 7.19b))
RoIC = 12.06% (NOPAT 1.83b / Invested Capital 15.2b)
WACC = 7.76% (E(23.4b)/V(31.5b) * Re(9.11%) + D(8.02b)/V(31.5b) * Rd(5.15%) * (1-Tc(0.26)))
Discount Rate = 9.11% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 83.34 | Cagr: 1.99%
[DCF] Terminal Value 75.44% ; FCFF base≈884.8m ; Y1≈888.5m ; Y5≈941.2m
[DCF] Fair Price = 100.6 (EV 14.6b - Net Debt 6.81b = Equity 7.83b / Shares 77.9m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: 97.72 | EPS CAGR: 16.52% | SUE: 1.61 | # QB: 2
Revenue Correlation: 99.53 | Revenue CAGR: 31.76% | SUE: -0.02 | # QB: 0
EPS current Quarter (2027-03-31): EPS=6.99 | Chg30d=-2.47% | Revisions=-25% | Analysts=14
EPS current Year (2026-12-31): EPS=23.47 | Chg30d=-2.12% | Revisions=-81% | GrowthEPS=+16.8% | GrowthRev=+22.7%
EPS next Year (2027-12-31): EPS=29.75 | Chg30d=-0.54% | Revisions=+15% | GrowthEPS=+26.8% | GrowthRev=+13.4%
[Analyst] Revisions Ratio: -31% (up=13, down=26)