LPLA FY 2018 Earnings Report — LPL Financial Holdings Inc. Revenue & Financial Results | Market Cap Arena

LPL Financial Holdings Inc.LPLA

FY 2018 Earnings

Reported February 26, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$5.2B	—	$4.3B	—	21.2%
Op. Income	$718M	—	$494M	—	45.3%
Gross Margin	27.8%	—	25.6%	—	2.1pp
Net Margin	8.5%	—	5.6%	—	2.9pp
EPS (Diluted)	$4.85	—	$2.59	—	87.3%
Free Cash Flow	$421M	—	$172M	—	145.4%

Revenue Flow

Item	Amount
REVENUE	$5.2B
Cost of Revenue	$3.7B
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$209M
General & Administrative	$248M
SG&A Expenses	$456M
Other Expenses	$267M
Operating Expenses	$723M
Cost & Expenses	$4.5B
OPERATING INCOME	$718M
Interest Income	$40M
Interest Expense	$125M
Other Income/Expenses	-$125M
INCOME BEFORE TAX	$593M
Income Tax Expense	$153M
Net Income from Continuing Ops	$439M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$439M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$439M
D&A	$148M
EBIT	$718M
EBITDA	$866M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$5.2B
Cost of Revenue	$3.7B
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$209M
General & Administrative	$248M
SG&A Expenses	$456M
Other Expenses	$267M
Operating Expenses	$723M
Cost & Expenses	$4.5B
OPERATING INCOME	$718M
Interest Income	$40M
Interest Expense	$125M
Other Income/Expenses	-$125M
INCOME BEFORE TAX	$593M
Income Tax Expense	$153M
Net Income from Continuing Ops	$439M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$439M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$439M
D&A	$148M
EBIT	$718M
EBITDA	$866M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$439M
Depreciation & Amortization	$148M
Stock-Based Compensation	$29M
Deferred Income Tax	-$2M
Other Non-Cash Items	$87M
Change in Working Capital	-$120M
OPERATING CASH FLOW	$582M
Capital Expenditure	-$161M
Acquisitions (Net)	-$28M
Purchases of Investments	-$6M
Sales/Maturities of Investments	$5M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$162M
Net Debt Issuance	-$24M
Common Stock Repurchased	-$418M
Common Dividends Paid	-$88M
Other Financing Activities	$47M
NET CASH FROM FINANCING	-$483M
FREE CASH FLOW	$421M
Net Change in Cash	-$64M

Balance Sheet

Item	Amount
Cash & Equivalents	$511M
Short-Term Investments	$10M
Net Receivables	$1.1B
Inventory	$0
Other Current Assets	$1.1B
TOTAL CURRENT ASSETS	$2.7B
PP&E (Net)	$461M
Goodwill	$1.5B
Intangible Assets	$484M
Long-Term Investments	$13M
Tax Assets	$0
Other Non-Current Assets	$305M
TOTAL NON-CURRENT ASSETS	$2.8B
TOTAL ASSETS	$5.5B
Account Payables	$1.1B
Short-Term Debt	$0
Deferred Revenue	$81M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1.7B
Long-Term Debt	$2.4B
Deferred Revenue NC	$81M
Deferred Tax Liabilities	$18M
Other Non-Current Liabilities	$213M
TOTAL NON-CURRENT LIABILITIES	$2.8B
TOTAL LIABILITIES	$4.5B
Common Stock	$125.0K
Additional Paid-In Capital	$1.6B
Retained Earnings	$1.1B
Treasury Stock	-$1.7B
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$974M
Minority Interest	$0
TOTAL EQUITY	$974M
TOTAL LIABILITIES & EQUITY	$5.5B
Total Debt	$2.5B
Net Debt	$2.0B