LPLA FY 2012 Earnings Report — LPL Financial Holdings Inc. Revenue & Financial Results | Market Cap Arena

LPL Financial Holdings Inc.LPLA

FY 2012 Earnings

Reported February 25, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$3.7B	—	$3.5B	—	5.2%
Op. Income	$328M	—	$373M	—	-12.2%
Gross Margin	20.5%	—	20.4%	—	0.1pp
Net Margin	4.1%	—	4.9%	—	-0.7pp
EPS (Diluted)	$1.37	—	$1.50	—	-8.7%
Free Cash Flow	$199M	—	$406M	—	-50.9%

Revenue Flow

Item	Amount
REVENUE	$3.7B
Cost of Revenue	$2.9B
GROSS PROFIT	$750M
R&D Expenses	$0
Selling & Marketing	$107M
General & Administrative	$140M
SG&A Expenses	$247M
Other Expenses	$175M
Operating Expenses	$422M
Cost & Expenses	$3.3B
OPERATING INCOME	$328M
Interest Income	$19M
Interest Expense	$55M
Other Income/Expenses	-$77M
INCOME BEFORE TAX	$251M
Income Tax Expense	$99M
Net Income from Continuing Ops	$152M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$152M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$152M
D&A	$72M
EBIT	$305M
EBITDA	$377M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.7B
Cost of Revenue	$2.9B
GROSS PROFIT	$750M
R&D Expenses	$0
Selling & Marketing	$107M
General & Administrative	$140M
SG&A Expenses	$247M
Other Expenses	$175M
Operating Expenses	$422M
Cost & Expenses	$3.3B
OPERATING INCOME	$328M
Interest Income	$19M
Interest Expense	$55M
Other Income/Expenses	-$77M
INCOME BEFORE TAX	$251M
Income Tax Expense	$99M
Net Income from Continuing Ops	$152M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$152M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$152M
D&A	$72M
EBIT	$305M
EBITDA	$377M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$152M
Depreciation & Amortization	$72M
Stock-Based Compensation	$21M
Deferred Income Tax	-$12M
Other Non-Cash Items	-$14M
Change in Working Capital	$35M
OPERATING CASH FLOW	$254M
Capital Expenditure	-$55M
Acquisitions (Net)	-$45M
Purchases of Investments	-$7M
Sales/Maturities of Investments	$8M
Other Investing Activities	$7M
NET CASH FROM INVESTING	-$92M
Net Debt Issuance	-$34M
Common Stock Repurchased	-$199M
Common Dividends Paid	-$249M
Other Financing Activities	$65M
NET CASH FROM FINANCING	-$417M
FREE CASH FLOW	$199M
Net Change in Cash	-$255M

Balance Sheet

Item	Amount
Cash & Equivalents	$466M
Short-Term Investments	$7M
Net Receivables	$779M
Inventory	$0
Other Current Assets	$578M
TOTAL CURRENT ASSETS	$1.8B
PP&E (Net)	$131M
Goodwill	$1.4B
Intangible Assets	$504M
Long-Term Investments	$10M
Tax Assets	$0
Other Non-Current Assets	$142M
TOTAL NON-CURRENT ASSETS	$2.2B
TOTAL ASSETS	$4.0B
Account Payables	$808M
Short-Term Debt	$43M
Deferred Revenue	$62M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1.4B
Long-Term Debt	$1.3B
Deferred Revenue NC	$62M
Deferred Tax Liabilities	$118M
Other Non-Current Liabilities	-$21M
TOTAL NON-CURRENT LIABILITIES	$1.4B
TOTAL LIABILITIES	$2.8B
Common Stock	$116.0K
Additional Paid-In Capital	$1.2B
Retained Earnings	$200M
Treasury Stock	-$288M
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$4.0B
Total Debt	$1.3B
Net Debt	$852M