LPLA FY 2017 Earnings Report — LPL Financial Holdings Inc. Revenue & Financial Results | Market Cap Arena

LPL Financial Holdings Inc.LPLA

FY 2017 Earnings

Reported February 20, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$4.3B	—	$4.0B	—	5.7%
Op. Income	$494M	—	$394M	—	25.4%
Gross Margin	25.6%	—	23.7%	—	2.0pp
Net Margin	5.6%	—	4.7%	—	0.8pp
EPS (Diluted)	$2.59	—	$2.13	—	21.6%
Free Cash Flow	$172M	—	$147M	—	16.5%

Revenue Flow

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$3.2B
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$172M
General & Administrative	$214M
SG&A Expenses	$385M
Other Expenses	$219M
Operating Expenses	$604M
Cost & Expenses	$3.8B
OPERATING INCOME	$494M
Interest Income	$24M
Interest Expense	$107M
Other Income/Expenses	-$129M
INCOME BEFORE TAX	$365M
Income Tax Expense	$126M
Net Income from Continuing Ops	$239M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$239M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$239M
D&A	$122M
EBIT	$472M
EBITDA	$594M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$3.2B
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$172M
General & Administrative	$214M
SG&A Expenses	$385M
Other Expenses	$219M
Operating Expenses	$604M
Cost & Expenses	$3.8B
OPERATING INCOME	$494M
Interest Income	$24M
Interest Expense	$107M
Other Income/Expenses	-$129M
INCOME BEFORE TAX	$365M
Income Tax Expense	$126M
Net Income from Continuing Ops	$239M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$239M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$239M
D&A	$122M
EBIT	$472M
EBITDA	$594M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$239M
Depreciation & Amortization	$122M
Stock-Based Compensation	$29M
Deferred Income Tax	-$9M
Other Non-Cash Items	$69M
Change in Working Capital	-$6M
OPERATING CASH FLOW	$444M
Capital Expenditure	-$272M
Acquisitions (Net)	-$323M
Purchases of Investments	-$6M
Sales/Maturities of Investments	$3M
Other Investing Activities	$12.0K
NET CASH FROM INVESTING	-$438M
Net Debt Issuance	$198M
Common Stock Repurchased	-$114M
Common Dividends Paid	-$90M
Other Financing Activities	$57M
NET CASH FROM FINANCING	$57M
FREE CASH FLOW	$172M
Net Change in Cash	$63M

Balance Sheet

Item	Amount
Cash & Equivalents	$811M
Short-Term Investments	$11M
Net Receivables	$1.0B
Inventory	$0
Other Current Assets	$821M
TOTAL CURRENT ASSETS	$2.6B
PP&E (Net)	$413M
Goodwill	$1.4B
Intangible Assets	$414M
Long-Term Investments	$12M
Tax Assets	$0
Other Non-Current Assets	$448M
TOTAL NON-CURRENT ASSETS	$2.7B
TOTAL ASSETS	$5.4B
Account Payables	$1.1B
Short-Term Debt	$0
Deferred Revenue	$72M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1.6B
Long-Term Debt	$2.4B
Deferred Revenue NC	$72M
Deferred Tax Liabilities	$16M
Other Non-Current Liabilities	$213M
TOTAL NON-CURRENT LIABILITIES	$2.8B
TOTAL LIABILITIES	$4.4B
Common Stock	$123.0K
Additional Paid-In Capital	$1.6B
Retained Earnings	$718M
Treasury Stock	-$1.3B
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$965M
Minority Interest	$0
TOTAL EQUITY	$965M
TOTAL LIABILITIES & EQUITY	$5.4B
Total Debt	$2.5B
Net Debt	$1.7B