Stock Analysis
LPL Financial Holdings Inc.LPLA
P/E 25.10×· 5Y range 13.77–38.42×· 43th percentile of history
Sector: Financial Services · Industry: Security & Commodity Brokers, Dealers, Exchanges & Services
AnalystsStrong Buy23 analystsP/E 25.1× sits at the 43rd percentile of its 5.0513347022587265-year history.
Cash covers 16% of debt · Q2 2026.
PMP Verdict
Mixed fundamentals, fairly valued
Strengths
- Growth90
- Financial Health66
Risks
- Quality36
- Profitability50
Mixed picture — no clear quality or value edge.
Market context
-2.0% today· Z 1.0σ
Bull Case
- ✓ROE 17.5% — efficient capital deployment
- ✓Revenue CAGR 21.8% — durable top-line growth
What's happening with LPLA
Profile
Strong growth; earnings quality, moat and valuation lag behind.
How is each axis scored?
- Valuation49/100 · Weak
- P/E vs own history (43th pct)12/25
- FCF yield (-3.7%)0/25
- P/S (1.3x)25/25
- EV/EBIT (21.5x)12/25
- Growth90/100 · Strong
- Revenue CAGR (21.8%)25/25
- Net income CAGR (17.0%)20/25
- EPS CAGR 5Y (18.0%)20/25
- Fwd implied growth (129.0%)25/25
- Profitability50/100 · Moderate
- ROIC (9.5%)12/25
- ROE (17.5%)20/25
- Net margin (5.1%)13/25
- Operating margin (7.5%)5/25
- Financial Health66/100 · Moderate
- Altman Z (2.28)18/25
- Current ratio (2.22)25/25
- Interest coverage (5.5x)18/25
- Net cash / debt (D/A 33%)5/25
- Quality36/100 · Weak
- Piotroski F (2/9)5/25
- Beneish M (-1.46)6/25
- FCF conversion (-92%)0/25
- Margin stability (σ 3.0%)25/25
- Moat43/100 · Weak
- ROIC >12% years (6/10 yrs)13/25
- Median gross margin (11.2%)0/25
- FCF-positive years (8/10 yrs)18/25
- Worst-year net margin (worst 4.7%)12/25
Risk Flags
- ⚠Beneish M -1.46 — earnings-manipulation flag
- ⚠Negative FCF margin (-0.0%) — burning cash
About LPL Financial Holdings Inc.
LPL Financial is the largest US independent broker/dealer, with more than 32,000 financial advisors, roughly 11 million customer accounts, and roughly $2. Show more
4 trillion in client assets under management or advisory affiliated with its platform at the end of 2025. The firm earns the bulk of its profit from interest income earned on client cash balances and from advisory fees, commissions, and asset-based fees. LPL specializes in providing turnkey wealth management services for affiliated independent advisors, but maintains a diverse array of affiliation modalities, running the gamut from more traditional employee models to a pure RIA custody approach. It earns tuck-in revenue from recordkeeping fees and the provision of software tools and services to its advisor base.
Headquarters: SAN DIEGO, CA · Employees: 10,081 · Website ↗
Price History
Weekly Candlestick Chart — up to 5Y
Key Metrics
Financial snapshot · Tap any metric for its definition and grade
TTM Snapshot
trailing twelve months · YoYValuation
49D+P/E (TTM)25.0xB
Grade B: FairPrice / TTM EPS (own statements) — vs own 5Y history: 13.8x–38.4x · 43rd pct
P/FCF27.1xB
Grade B: FairPrice / Free Cash Flow per share (Finnhub). Inverse of FCF yield — negative when FCF is negative
FCF Yield-3.7%D
Grade D: NegativeTTM (OCF − CapEx) / Market Cap — vs own 5Y history: -8.6%–13.2% · 16th pct
P/S (TTM)1.28xA
Grade A: CheapPrice / TTM Revenue (own statements) — vs own 5Y history: 1.1x–2.6x · 3rd pct
EV/EBIT21.5xC
Grade C: ExpensiveEnterprise value / TTM EBIT (D&A not in our data) — capital-structure neutral — vs own 5Y history: 12.0x–34.1x · 42nd pct
EV/Sales1.5xA
Grade A: CheapEnterprise Value / TTM Revenue (Finnhub) — capital-structure neutral sales multiple
Forward P/E10.9xA
Grade A: CheapPrice / next-year EPS estimate — shows whether the TTM multiple is rich or just front-loading growth
P/B Ratio4.37xC
Grade C: ExpensivePrice to Book Value. Neg. equity = heavy buybacks
PEG Ratio1.15B
Grade B: FairFinnhub PEG — their P/E basis ÷ expected EPS growth. Suppressed when their P/E diverges >2× from our TTM P/E (different basis)
Dividend Yield0.38%A
Grade A: PaysTTM dividend yield (Finnhub) — annual dividends / price. None = no dividend; very high yield can signal distress
Payout Ratio7.0%A
Grade A: SafeDividends / Net Income (Finnhub) — share of earnings paid out; >90% or negative = unsustainable
Profitability
50CROIC9.5%C
Grade C: AverageNOPAT (EBIT less ~21% tax) / invested capital (equity + debt − cash). Flagship quality metric — durable >15% signals a moat
ROE17.5%C
Grade C: AverageReturn on Equity. Neg. equity = heavy buybacks
ROA5.4%C
Grade C: AverageReturn on Assets (Finnhub) — Net Income / Total Assets; how efficiently assets produce profit
Net Margin5.1%C
Grade C: AverageNet Income / Revenue
Operating Margin7.5%D
Grade D: LowTTM EBIT / TTM Revenue
Gross Margin7.0%D
Grade D: LowGross Profit / Revenue
FCF Margin-4.7%D
Grade D: LowFCF / Revenue
True FCF Margin-5.2%D
Grade D: LowTTM (OCF − CapEx − SBC) / TTM Revenue — SBC treated as a real cost
Growth
90A+Revenue CAGR21.8%A
Grade A: HighCompound annual revenue growth (up to 5Y depending on data availability)
Net Income CAGR17.0%A
Grade A: HighCompound annual net income growth (up to 5Y depending on data availability)
EPS CAGR (5Y)18.0%A
Grade A: HighCompound annual EPS growth over up to 5Y of per-share earnings (own statements). Null when either endpoint EPS ≤ 0
Implied EPS Growth129.0%A
Grade A: HighAnalyst forward EPS (normalized basis) vs our GAAP TTM EPS — different bases, so extreme values usually mark cyclically depressed TTM earnings, not real growth
Dilution (5Y)-3.5%A
Grade A: BuybacksShare count change over 5Y
SBC / Net Income8.6%A
Grade A: LowStock-based comp/Net income. >30% = dilution risk
SBC / Revenue0.4%A
Grade A: LowTTM stock-based comp / TTM Revenue
Financial Health
66BAltman Z-Score2.28C
Grade C: Gray zoneBankruptcy risk. >3 Safe, <1.8 Distress
Current Ratio2.22xA
Grade A: HighCurrent Assets/Liabilities
Quick Ratio2.16xA
Grade A: High(Current Assets − Inventory) / Current Liabilities (Finnhub) — stricter liquidity test, excludes inventory
Interest Coverage5.5xC
Grade C: OkEBIT/Interest. >10 Strong
Debt Repayment—
Years to repay net debt via FCF
Net Debt/EBIT4.4xD
Grade D: HighLeverage. <2x Low, >4x High
Debt/Equity1.35xC
Grade C: MedDebt / Equity: <1 Conservative, >2 Risky. Not meaningful with non-positive equity; shown as unavailable rather than low debt.
Cash / Debt0.16xD
Grade D: ThinCash covers how much of total debt. >1 = could repay all debt from cash
Quality
36DPiotroski F-Score2/9D
Grade D: WeakFinancial strength 0–9. >7 Strong
Beneish M-Score-1.46D
Grade D: RiskyEarnings manipulation risk. < -2.22 Safe
FCF Conversion-92.5%D
Grade D: PoorFCF / Net Income
Margin Stability3.0%A
Grade A: StableEBIT margin std deviation. Lower = stable
Capex / Revenue3.5%A
Grade A: Asset-lightTTM CapEx / TTM Revenue — high % = capital-hungry business
Asset Turnover1.04xA
Grade A: HighRevenue / Total Assets (Finnhub) — how efficiently the asset base generates sales
Insider Transactions
SEC Form 4 · 8 recordsP/S codes are the directional signal; grants, option exercises and tax withholding carry none. Form 4 doesn't flag 10b5-1 plans — scheduled sales may appear within open-market sells.
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
Reeping Katharine Filed | Reeping Katharine | SellOpen market sale | -440 | |
Field Emily Filed | Field Emily | Tax withholding | -106 | |
Thomas Corey E. Filed | Thomas Corey E. | Grant / award | +4 | |
Putnam James S Filed | Putnam James S | Grant / award | +7 | |
Mnookin Allison Filed | Mnookin Allison | Grant / award | +2 |
Show 3 more filingsShow fewer filings
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
Glavin William Francis Jr Filed | Glavin William Francis Jr | Grant / award | +10 | |
SCHIFTER RICHARD P Filed | SCHIFTER RICHARD P | Grant / award | +14 | |
BERNARD EDWARD C Filed | BERNARD EDWARD C | Grant / award | +3 |
More metrics — Moat, Per Share, Balance Sheet, MarketHide additional metrics
Moat
43D+ROIC >12% Years6/10 yrsC
Grade C: ModerateShare of completed fiscal years with ROIC > 12% — measures multi-year capital-return durability
Gross Margin (Med.)11.2%D
Grade D: WeakMedian annual gross margin across available fiscal years — pricing-power durability
FCF-Positive Years8/10 yrsA
Grade A: DurableShare of completed fiscal years with positive free cash flow
Net Margin Floor4.7%C
Grade C: ModerateWeakest annual net margin across completed fiscal years — recession/downcycle resilience
Per Share
EPS (TTM)$12.79
Own TTM net income / shares — same earnings basis as P/E
Cash / Share$34.05
Cash & short-term investments per share (Finnhub)
Book Value / Share$72.72
Shareholders' equity per share (Finnhub). Negative = accumulated losses / heavy buybacks
Balance Sheet
Total Debt$7.79B
Total debt obligations (short + long term)
Cash & Equiv.$1.28B
Cash and short-term investments
Net Debt$6.52B
Total Debt minus Cash. Negative = Net Cash position
Total Equity$5.76B
Shareholders' equity (book value)
Asset / Liability1.41xC
Grade C: AdequateTotal Assets / Total Liabilities
Market
Market Cap$25.16B
Current Market Capitalization
Beta0.55B
Grade B: DefensivePrice sensitivity vs the market (Finnhub) — 1.0 moves with market, >1.2 amplifies swings
How grades work: each metric is graded A–D against fixed thresholds (tap a row for the meaning). Card grades map the pillar score to A+–E — a card grade is that pillar's own score, not an average of the rows shown.
Financials as of Jun 2026 · Ratio snapshot Oct 16, 2026
Key Insights: LPL Financial Holdings Inc. (LPLA)
LPLA is down 2.01% at the last close. LPL Financial Holdings Inc. meets only 2 of 9 Piotroski F-Score criteria — a sign of weak underlying fundamentals. Altman Z-Score of 2.28 falls in the grey zone (1.81–2.99) — financial distress is unlikely but not ruled out. Beneish M-Score of -1.46 is above the −1.78 flag threshold, a signal that reported earnings warrant closer scrutiny.
- Revenue has compounded at roughly 22% annually, with net income growing about 17% per year — a strong growth profile.
- Free-cash-flow margin is negative (-5%) — the business currently burns cash.
- Company has negative FCF, making debt repayment from operations difficult.
See how LPLA ranks on the Capex Tracker — top 50 capital spenders compared.
Recent Market Moves
See all LPLA moves →| Date | Session | Price | Move | Z-Score |
|---|---|---|---|---|
| Oct 5 | Regular | 333.47 | +5.38% | 2.56 |
| Oct 5 | After-hours | 331.98 | +4.91% | 2.36 |
| Sep 25 | Regular | 314.24 | +3.79% | 2.12 |
| Sep 25 | After-hours | 314.36 | +3.83% | 2.14 |
| Sep 22 | Regular | 308.75 | -7.08% | -4.52 |
Frequently Asked Questions about LPLA
What is the current LPL Financial Holdings Inc. (LPLA) stock price?
LPLA is trading at $320.96 at the last market close, down 2.01% on the session. PreMarketPrice tracks LPLA pre-market, intraday and after-hours prices.
Is LPLA stock a buy right now?
PreMarketPrice's quantitative model rates LPL Financial Holdings Inc.'s financial health at 66/100. This is a data-driven snapshot of fundamentals, not investment advice.
Is LPLA stock overvalued?
LPL Financial Holdings Inc. trades at a trailing P/E of 25.0 and our valuation score rates it 49/100 (higher = cheaper vs. its own history). See the Valuation History and Key Metrics sections for forward P/E, EV/EBITDA and PEG context.
When does LPL Financial Holdings Inc. report earnings?
No confirmed earnings date is currently scheduled for LPLA. The Earnings section lists recent reports and updates as dates are announced.
What sector does LPL Financial Holdings Inc. operate in?
LPL Financial Holdings Inc. operates in the Financial Services sector, within the Security & Commodity Brokers, Dealers, Exchanges & Services industry. The Related Stocks section lists sector peers for comparison.
What does LPL Financial Holdings Inc. do?
LPL Financial is the largest US independent broker/dealer, with more than 32,000 financial advisors, roughly 11 million customer accounts, and roughly $2.
About LPL Financial Holdings Inc. (LPLA) Stock
LPL Financial Holdings Inc. (LPLA) is a US-listed stock operating in the Financial Services sector, specifically the Security & Commodity Brokers, Dealers, Exchanges & Services industry. As of the latest update, LPL Financial Holdings Inc. is trading at $320.96, down 2.01% on the day with a market capitalization of $25.2 billion. The financial health score for LPLA is 66/100, which indicates good financial strength based on profitability, leverage, liquidity, and growth metrics. This page provides real-time pre-market pricing, earnings calendar, financial health analysis, and valuation metrics for LPLA stock.
LPLA Stock Analysis & Key Metrics
On PreMarketPrice, you can track LPL Financial Holdings Inc. (LPLA) across multiple dimensions:
- Pre-market price & movement: Real-time LPLA stock price with percentage change, updated continuously during pre-market and regular trading hours.
- Valuation & P/E history: Historical P/E, P/S, and P/B ratios for LPLA with trend analysis and normalized valuation multiples.
- Financial statements: Revenue, net income, assets, liabilities, and equity for LPL Financial Holdings Inc. across multiple reporting periods.
- Financial health score: A composite score of 66/100 based on Altman Z-Score, Piotroski F-Score, profitability, and leverage metrics for LPLA.
- Sector peers: Compare LPLA against 6 other financial services stocks on key financial metrics.
Is LPLA a Good Stock to Buy?
This page provides data-driven analysis to help you evaluate LPL Financial Holdings Inc. (LPLA) as an investment. The financial health score of 66/100 suggests good financial fundamentals. Valuation metrics show whether the stock is trading above or below its historical average.However, this is not financial advice — always do your own research before investing.
Data on this page is sourced from real-time market feeds, Polygon.io, and Finnhub.LPL Financial Holdings Inc. (LPLA) trades on NYSE. Pre-market trading occurs 4:00 AM – 9:30 AM ET. Regular market hours are 9:30 AM – 4:00 PM ET.