LPL Financial Holdings Inc.
LPL serves the financial advisor-mediated marketplace as the nation s largest independent broker-dealer, a leading investment advisory firm, and a top custodian. We support more than 32,000 financial advisors, and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $2.4 trillion in brokerage and advisory assets.
$321.99
+$0.96 (+0.30%)
EOD Oct 22, 2026
Operating margin is thin at 6.77%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 37.2%, still solid. Margins contracted 4.5pp, which offsets some of the top-line progress.
At 26x earnings, the current multiple leaves limited room for execution misses or growth deceleration. ROIC dropped from 14.38% to 8.03%, capital efficiency is deteriorating.
25.9x earnings. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$19.61B
▲ +37.2% YoY
Net Income (TTM)
$1.01B
▼ -18.5% YoY
Op. Margin
6.95%
▼ -4.5pp YoY
ROIC
7.73%
▼ -6.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$931M
▼ -244.6% YoY
Op. Cash Flow (TTM)
-$252M
▼ -248.2% YoY
Net Debt
$6.21B
Cash & Equiv.
$1.48B
5Y CAGR: +23.7%
Continue Research
SourceComputed from the 10-Q filed 30 Jul 2026, covering the period ending 30 Jun 2026, as reported to the SEC. Data last refreshed 2 Oct 2026. How this is calculated.
Price from market data, last close as of 22 Oct 2026. Fiscal year ends Dec. Sector medians are approximate S&P 500 benchmarks and update periodically.
Is LPL Financial Holdings (LPLA) overvalued?
At a P/E of 25.9, LPL Financial Holdings (LPLA)'s valuation is best read against its own history, its peers, and the growth its price implies. A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, LPL Financial Holdings scores 29/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 0.4%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
Is LPL Financial Holdings a high-quality business?+
LPL Financial Holdings scores 29 out of 100 on Intrinsiqq's quality score, a weighted blend of 7 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. Recent fundamentals include a 7.0% operating margin and a 7.7% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Does LPL Financial Holdings (LPLA) pay a dividend, and how much?+
Yes, LPL Financial Holdings pays a regular dividend of about $1.20 per share per year (typically in quarterly installments), a yield of roughly 0.4% at the current price. That is a payout ratio of about 9.5% of earnings, so the dividend is amply covered by earnings. LPL Financial Holdings has grown the dividend at roughly 4.2% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For LPLA's full payout history, growth streak and dividend-safety score, see the dividends tab.
Is LPL Financial Holdings a good stock to buy right now?+
That depends on valuation and quality together, not either alone. you should weigh LPLA's valuation and scores 29/100 on quality (lower-quality). It also yields about 0.4%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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