LPL Financial Holdings Inc. (LPLA)

What most investors miss

Trends, drivers and alerts — the full picture.

Profit → Cash

$-0.25cash per $1 profit

Weak

Much of its reported profit is not backed by operating cash.

Valuation

75th pctvs its own history

Rich

Its valuation sits in the richer end of its own recent range.

Revenue growth

+35.2%year over year

Strong

Revenue is growing strongly year over year.

Leverage

Moderatedebt to assets

Watch

Elevated leverage worth keeping an eye on.

More coming: dilution / share-count creep.

Fair value

Overvalued

Trading about 39% above our fair-value range

A cash-flow (DCF) estimate cross-checked against peer multiples.

✦ The read

LPL Financial Holdings Inc. turns -25¢ of every reported profit-dollar into real cash. Much of its reported profit is not backed by operating cash. Revenue is growing strongly year over year. Its valuation sits in the richer end of its own recent range. Elevated leverage worth keeping an eye on.

Key numbers

Valuation

EPS (TTM)$12.57

TTM (trailing 12 months, through fiscal Q2 FY2026)

Profitability

Net margin5.1%

TTM (trailing 12 months, through fiscal Q2 FY2026)

Size

Revenue (TTM)$19.61B

TTM (trailing 12 months, through fiscal Q2 FY2026)

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