LPL Financial Holdings Balance Sheet Health
Financial Health criteria checks 2/6
LPL Financial Holdings has a total shareholder equity of $5.7B and total debt of $7.2B, which brings its debt-to-equity ratio to 126.3%. Its total assets and total liabilities are $18.8B and $13.1B respectively.
Key information
126.32%
Debt to equity ratio
US$7.18b
Debt
| Interest coverage ratio | n/a |
| Cash | US$2.73b |
| Equity | US$5.69b |
| Total liabilities | US$13.15b |
| Total assets | US$18.84b |
Recent financial health updates
No updates
Recent updates
Seeking Alpha • Jun 05
LPL Financial: The Street Is Looking At AI Risk, Not The Earnings Story (Upgrade)
Summary LPL Financial Holdings Inc. is upgraded to buy, with valuation now attractive and strong earnings growth projected for 2026 and beyond. LPLA's Q1 saw 30% YoY client asset growth to $2.3 trillion, robust pre-tax margins, and resumed share buybacks. Despite lagging SPY and XLF, LPLA targets mid- to high single-digit organic growth and potential upside to $336/share at 16x P/E. Key LPLA risks include AI-driven margin pressure, M&A discipline amid elevated valuations, and advisor retention challenges. Read the full article on Seeking Alpha
Narrative Update • Jun 02
LPLA: Advisor Expansion And Buybacks Will Support Higher Future P E Multiple
Analysts made a small adjustment to the LPL Financial Holdings price target to $416.50, reflecting updated views on fair value, discount rate, revenue growth, profit margin, and future P/E after a mix of recent target hikes and cuts across major research firms. Analyst Commentary Recent research on LPL Financial Holdings shows a mix of optimism and caution, with several firms adjusting price targets higher or lower and one firm resuming coverage with an Outperform rating.Narrative Update • May 11
LPLA: Insurance Partnership And Governance Changes Will Support Higher Future P E Multiple
Analysts have adjusted the LPL Financial Holdings price target to $417.21, reflecting updated assumptions around slightly lower revenue growth and profit margins, a modestly reduced discount rate, and a higher future P/E multiple informed by recent mixed revisions across major firms. Analyst Commentary Recent Street research on LPL Financial Holdings shows a wide range of revised price targets, with several firms adjusting their views in both directions.Analysis Article • May 07
Analysts Have Made A Financial Statement On LPL Financial Holdings Inc.'s (NASDAQ:LPLA) First-Quarter Report
LPL Financial Holdings Inc. ( NASDAQ:LPLA ) shareholders are probably feeling a little disappointed, since its shares...Narrative Update • Apr 26
LPLA: Insurance Partnership And Governance Changes Will Support Future Multiple Re Rating
Analyst targets for LPL Financial Holdings have been reset lower by a broad group of firms, collectively trimming the average price target by tens of dollars. Analysts are factoring in updated discount rate assumptions, modest tweaks to long term revenue growth and profit margin estimates, and slightly higher future P/E expectations.
New Narrative • Apr 21
Adviser Movement And Acquisitions Will Create Powerful Long Term Earnings Engine
Catalysts About LPL Financial Holdings LPL Financial Holdings is an independent wealth management platform that supports financial advisers, institutions and their clients with advisory, brokerage and related services. What are the underlying business or industry changes driving this perspective?Narrative Update • Apr 12
LPLA: Insurance Partnership And Governance Changes Will Support Future Fee-Based Earnings
Analysts have trimmed the implied fair value for LPL Financial Holdings by about $47 per share to roughly $405, reflecting a series of reduced price targets from several firms, along with some upward revisions, with the shift tied to updated views on growth, profitability, and valuation multiples. Analyst Commentary Recent research on LPL Financial Holdings shows a mix of optimism and caution, with several firms cutting price targets by wide margins and a few raising them.
New Narrative • Apr 07
Adviser Transition Headwinds And Costly Integrations Will Eventually Support A Stronger Platform
Catalysts About LPL Financial Holdings LPL Financial Holdings provides brokerage and advisory platforms that support independent financial advisers, institutions and affiliated wealth businesses. What are the underlying business or industry changes driving this perspective?Narrative Update • Mar 29
LPLA: Insurance Partnership Expansion Will Support Future Fee-Based Earnings Streams
The updated analyst price target for LPL Financial Holdings edges slightly lower to about $451.92 from $453.46, as analysts refine their models around discount rate, revenue growth, profit margin, and forward P/E, while recent Street research shows a mix of price target raises and trims across firms. Analyst Commentary Recent Street research on LPL Financial Holdings reflects a mixed tone, with some analysts lifting targets and others trimming them as they update models for the coming quarters.Narrative Update • Mar 14
LPLA: Insurance Partnership Expansion Will Support Future Earnings Power
Analysts have made a modest adjustment to their price target for LPL Financial Holdings, citing recent mixed target changes from firms raising estimates by $16 and $25, while others have trimmed targets by $8 to $21 as they refine assumptions around discount rates, growth, margins, and future P/E levels. Analyst Commentary Recent research on LPL Financial Holdings shows a mix of optimism and caution as analysts refresh their models around discount rates, growth assumptions, margins, and future P/E levels.Narrative Update • Feb 28
LPLA: Higher Trading Volumes And Insurance Partnership Will Support Future Earnings Power
The analyst price target for LPL Financial Holdings has edged slightly lower from $455 to about $453, as analysts fine tune their assumptions and weigh a mix of recent price target raises and cuts across the Street. Analyst Commentary Recent research on LPL Financial Holdings shows a mix of enthusiasm and caution, with several firms adjusting price targets both higher and lower as they refresh assumptions ahead of upcoming reports and sector outlooks.Narrative Update • Feb 14
LPLA: Higher Trading Volumes And Volatility Will Support Future Earnings Power
Analysts have nudged their fair value estimate for LPL Financial Holdings higher to $455, citing a mix of recent price target increases and trims across firms that reflect updated views on the company's P/E assumptions, discount rate, and long term fundamentals. Analyst Commentary Bullish and bearish analysts are reading the same set of fundamentals differently, and that is showing up in a mix of price target raises and trims clustered around the updated fair value estimate of $455.Narrative Update • Jan 31
LPLA: Higher Margins And Trading Volumes Will Support Long Term Earnings Power
Analysts have slightly adjusted their price targets for LPL Financial Holdings, with our fair value estimate moving marginally higher to approximately $448.92 as they factor in updated assumptions around revenue growth, profit margins, discount rates, and future P/E multiples following recent target changes from several research firms. Analyst Commentary Recent research on LPL Financial Holdings has centered on recalibrating price targets while keeping a close eye on how the business executes against sector trends and upcoming earnings.Narrative Update • Jan 08
LPLA: Margin Expansion From Platform Pricing Will Support Long Term Earnings Power
Narrative Update The updated analyst price target for LPL Financial now implies a fair value of about $448.38, a very small move from $448.33. Analysts are fine tuning their models after mixed target changes across Barclays, Wolfe Research, Citizens JMP, and JPMorgan, reflecting recent Q3 results, revised volume assumptions, and updated expense and margin expectations.Narrative Update • Dec 11
LPLA Margin Expansion From Platform Pricing Is Expected To Drive Future Upside
The analyst price target for LPL Financial Holdings has been raised by analysts to approximately $448 from about $421, as they highlight stronger than expected Q3 earnings, sustained revenue tailwinds, and an improving margin outlook supported by platform pricing updates and acquisition synergies. Analyst Commentary Recent Street research on LPL Financial reflects a broadly constructive stance on the company, with several bullish analysts lifting price targets following the Q3 earnings beat and updated margin outlook.Narrative Update • Oct 23
Analysts Offer Mixed Outlook on LPL Financial as Price Target Edges Lower Amid Industry Trends
The analyst price target for LPL Financial Holdings has been adjusted slightly lower to $420.93 from $424.79. This change reflects updated modeling and tempered expectations for near-term growth, even as analysts highlight ongoing opportunities amid strong market activity and industry dynamics.Narrative Update • Oct 09
Aging Trends And Technology Investments Will Unlock Independent Advisory Opportunities
LPL Financial Holdings' analyst price target has been revised downward from $442.38 to $424.79. Analysts cite mixed signals in revenue growth and profit margins, amid ongoing sector volatility and company-specific integration headwinds.Narrative Update • Sep 25
Aging Trends And Technology Investments Will Unlock Independent Advisory Opportunities
Analysts have modestly lowered their price target for LPL Financial Holdings to $442.38, as integration of Commonwealth Financial Network and near-term growth concerns temper catalysts despite strong recent earnings and supportive macro drivers. Analyst Commentary Bullish analysts see potential for multiple re-rating and upside as LPL Financial integrates Commonwealth Financial Network, with earnings dilution and asset growth slowdowns seen as already priced in.Narrative Update • Sep 10
Aging Trends And Technology Investments Will Unlock Independent Advisory Opportunities
Analysts raised LPL Financial Holdings' price target to $453.42, citing strong Q2 earnings, sector tailwinds from interest rates and credit growth, but note tempered enthusiasm due to declining client cash balances and a more cautious rating from one analyst. Analyst Commentary Bullish analysts raised price targets following Q2 earnings beats and updates to sector models, reflecting stronger-than-expected financial performance.Seeking Alpha • Mar 31
LPL Financial: Positioned To Accelerate Market Expansion Through Commonwealth Acquisition
Summary LPL Financial is the largest independent broker-dealer in the US, with strong financials and a growth strategy focused on M&A and vertical integration. LPLA's FY24 revenues grew 23.20% YoY to $12.39bn, with EBITDA increasing 11.63% to $2.22bn, despite a significant decline in free cash flow due to heavy investments. The stock has outperformed the financial sector and broader market, driven by favorable regulatory conditions and strategic expansions, including the potential acquisition of Commonwealth Financial Network. Despite challenges from digital financial solutions and rising capital costs, LPLA's disciplined expansion and undervaluation justify a 'Buy' rating, with a DCF valuation indicating a 9.63% upside. Read the full article on Seeking AlphaSeeking Alpha • Feb 08
LPL Financial: Beneficiary Of A Shift Among Financial Advisors Away From Large Banks
Summary We initiated a position in LPL Financial Holdings Inc., the largest independent broker-dealer in the U.S., benefiting from the secular growth in financial advice demand. LPL's high-quality technology, diverse business models, and best-in-class incentives attract advisors shifting from large banks to independent models. LPL's investments in technology and flexible advisor models enhance efficiency, simplifying critical functions and offering various outsourcing options for independent advisors. LPL's organic growth in Net New Assets and rising asset prices drive gross profit and earnings per share growth at a mid-high teens rate. Read the full article on Seeking AlphaSeeking Alpha • Jan 07
LPL Financial: Shares Rally To Fair Value With Earnings On Tap (Rating Downgrade)
Summary I am downgrading LPL Financial from a Buy to a Hold due to falling EPS estimates and the stock being fairly priced. Despite strong Q3 results and significant asset growth, the FY 2026 consensus target has dropped, impacting my rating decision. Key risks include Fed rate cuts, cash sweep balances, and stock/bond price volatility, with mixed technical signals suggesting limited upside. LPLA's solid operational metrics and bullish primary trend are noted, but shares appear fully priced, warranting a neutral stance. Read the full article on Seeking AlphaSeeking Alpha • Oct 16
LPL Financial: Near-Term Overhang Is A Buying Opportunity
Summary LPL Financial has been hit with a string of bad news recently. A closer look suggests the flywheel is still spinning. This is a dip worth buying. Read the full article on Seeking AlphaFinancial Position Analysis
Short Term Liabilities: LPLA's short term assets ($9.1B) exceed its short term liabilities ($3.7B).
Long Term Liabilities: LPLA's short term assets ($9.1B) do not cover its long term liabilities ($9.4B).
Debt to Equity History and Analysis
Debt Level: LPLA's net debt to equity ratio (78.4%) is considered high.
Reducing Debt: LPLA's debt to equity ratio has reduced from 162.6% to 126.3% over the past 5 years.
Debt Coverage: LPLA's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: Insufficient data to determine if LPLA's interest payments on its debt are well covered by EBIT.
Balance Sheet
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/07 00:31 |
| End of Day Share Price | 2026/06/05 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
LPL Financial Holdings Inc. is covered by 28 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Benjamin Budish | Barclays |
| Chinedu Bolu | Bernstein |
| null null | BMO Capital Markets Equity Research |