LPLA FY 2013 Earnings Report — LPL Financial Holdings Inc. Revenue & Financial Results | Market Cap Arena

LPL Financial Holdings Inc.LPLA

FY 2013 Earnings

Reported February 25, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$4.1B	—	$3.7B	—	13.1%
Op. Income	$381M	—	$328M	—	16.3%
Gross Margin	20.5%	—	20.5%	—	-0.0pp
Net Margin	4.4%	—	4.1%	—	0.2pp
EPS (Diluted)	$1.72	—	$1.37	—	25.5%
Free Cash Flow	$82M	—	$199M	—	-59.0%

Revenue Flow

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$3.3B
GROSS PROFIT	$847M
R&D Expenses	$0
Selling & Marketing	$112M
General & Administrative	$157M
SG&A Expenses	$269M
Other Expenses	$197M
Operating Expenses	$466M
Cost & Expenses	$3.8B
OPERATING INCOME	$381M
Interest Income	$18M
Interest Expense	$51M
Other Income/Expenses	-$90M
INCOME BEFORE TAX	$291M
Income Tax Expense	$109M
Net Income from Continuing Ops	$182M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$182M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$182M
D&A	$84M
EBIT	$343M
EBITDA	$426M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$3.3B
GROSS PROFIT	$847M
R&D Expenses	$0
Selling & Marketing	$112M
General & Administrative	$157M
SG&A Expenses	$269M
Other Expenses	$197M
Operating Expenses	$466M
Cost & Expenses	$3.8B
OPERATING INCOME	$381M
Interest Income	$18M
Interest Expense	$51M
Other Income/Expenses	-$90M
INCOME BEFORE TAX	$291M
Income Tax Expense	$109M
Net Income from Continuing Ops	$182M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$182M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$182M
D&A	$84M
EBIT	$343M
EBITDA	$426M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$182M
Depreciation & Amortization	$84M
Stock-Based Compensation	$25M
Deferred Income Tax	-$29M
Other Non-Cash Items	$52M
Change in Working Capital	-$153M
OPERATING CASH FLOW	$160M
Capital Expenditure	-$78M
Acquisitions (Net)	-$3M
Purchases of Investments	-$3M
Sales/Maturities of Investments	$9M
Other Investing Activities	-$685.0K
NET CASH FROM INVESTING	-$75M
Net Debt Issuance	$212M
Common Stock Repurchased	-$219M
Common Dividends Paid	-$68M
Other Financing Activities	$40M
NET CASH FROM FINANCING	-$35M
FREE CASH FLOW	$82M
Net Change in Cash	$50M

Balance Sheet

Item	Amount
Cash & Equivalents	$517M
Short-Term Investments	$8M
Net Receivables	$820M
Inventory	$0
Other Current Assets	$514M
TOTAL CURRENT ASSETS	$1.9B
PP&E (Net)	$189M
Goodwill	$1.4B
Intangible Assets	$465M
Long-Term Investments	$7M
Tax Assets	$0
Other Non-Current Assets	$156M
TOTAL NON-CURRENT ASSETS	$2.2B
TOTAL ASSETS	$4.0B
Account Payables	$625M
Short-Term Debt	$11M
Deferred Revenue	$74M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1.2B
Long-Term Debt	$1.5B
Deferred Revenue NC	$74M
Deferred Tax Liabilities	$89M
Other Non-Current Liabilities	$7M
TOTAL NON-CURRENT LIABILITIES	$1.7B
TOTAL LIABILITIES	$2.9B
Common Stock	$117.0K
Additional Paid-In Capital	$1.3B
Retained Earnings	$314M
Treasury Stock	-$506M
Accum. Other Comp. Income	$115.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$4.0B
Total Debt	$1.5B
Net Debt	$1.0B