LPL Financial Holdings Inc

LPL Financial Holdings Inc

LPLA

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Market Cap$28.29B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
LPL Financial Holdings IncLPL Financial Holdings Inc28.10.34%17%1.5-

Earnings Call Q2 2026

July 30, 2026 - AI Summary

Strong Q2 performance; record profitability and operating leverage - Total client assets: $2.6T, +10% vs Q1 (organic growth + higher equity markets). - Organic net new assets: $23B (~4% annualized growth rate). - Record adjusted EPS: $5.84. - Adjusted pretax margin: ~39.3% (driven by expense discipline + organic growth). - Earnings/financial credit: both executives emphasized improved operating leverage via efficiency gains and better monetization; equity market volatility early in Q2 later reversed with a sharp recovery.
Outlook & organic growth expectations: mid–high single digits, but near-term depends on recruiting cycle - Management said June and Q2 showed a rebound (organic growth up to ~4% in Q2). - Expectations for balance of year organic growth: confidence to return to mid-to-high single digit growth “over time,” with adviser movement normalizing and recruiting capacity returning to more normalized levels as Commonwealth recruiting/education progresses. - Key enabler for H2: recruiting pipelines improved—recruited assets $25B (strongest quarter in ~2 years prior to large institutional wins); pipeline itself hit a new record despite strong pull-through. - Competitive recruiting environment acknowledged as “spirited,” but management believes LPL remains disciplined on returns and differentiates primarily via capabilities/technology/service rather than price/TA.
Expense guidance: lowering core G&A outlook; AI/automation expected to be “evergreen” - Core G&A: Q2 $519M, down $13M sequentially, below the low end of outlook. - 2026 core G&A outlook lowered to $2.14B–$2.165B. - Near-term phasing: Q3 core G&A $540M–$560M. - Management framed cost growth of ~4% to 5.5% core G&A (pre-Commonwealth) as consistent with continued investments that both reduce costs and improve adviser value. - Surprising/positive element: efficiency progress has been better than expected at times, enabling the guidance reduction.

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$393.60

Target Price by Analysts

9.2% upsideLPL Financial Holdings Target Price DetailsTarget Price
$279.58

Current Fair Value

22.4% downside

Overvalued by 22.4% based on the discounted cash flow analysis.

Share Statistics

Market cap$28.29 Billion
Enterprise Value$27.01 Billion
Dividend Yield$1.20 (0.34%)
Earnings per Share$10.97
Beta0.51
Outstanding Shares79,951,000

Return

Return on Equity17.49%ROE
Return on Assets5.09%
Return on Invested Capital8.98%

Valuation & Multiples

P/E Ratio28.09P/E Ratio
PEG72.41PEG
Price to Sales1.47Price to Sales
Price to Book Ratio5.0Price to Book Ratio
Enterprise Value to Revenue1.38
Enterprise Value to EBIT15.2
Enterprise Value to Net Income26
Total Debt to Enterprise0
Debt to Equity0Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 30, 2026
EPS Estimate
$5.39
Average shareholder expectation
Revenue Estimate
$5.04 B
Average shareholder expectation

Next Earnings Call

Expected Date
October 29, 2026
EPS Estimate
$5.94
Average shareholder expectation
Revenue Estimate
$5.42 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.0000 115.75%
Total Calls- 100.00%
Total Puts- 100.00%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %4.66% 98.18%
Total Invested$1.06B 95.75%
Investors Holding253 538.00%

ESG Score

No data

About LPL Financial Holdings Inc

4,658 employees
CEO: Mark Casady

Andy Kalbaugh Sallie Larsen

Relevant Senate Committees

Joint Committee on Taxation

This committee directly influences the formulation and analysis of tax legislation, providing critical 'revenue estimates' that shape fiscal policy. Its work directly impacts corporate tax structures and the tax environment for investment advice and financial planning.

Finance

This committee controls taxation (corporate, capital gains, individual), trade, and entitlement spending, all of which directly and profoundly impact investment strategies, client wealth, and LPL Financial Holdings' corporate profitability and market environment.

Banking, Housing, and Urban Affairs

This committee directly regulates the entire financial system, including the SEC, which is the primary regulatory body for investment advisors and broker-dealers like LPL Financial Holdings. Members would have direct insight into crucial regulatory changes.