LPLA FY 2019 Earnings Report — LPL Financial Holdings Inc. Revenue & Financial Results | Market Cap Arena

LPL Financial Holdings Inc.LPLA

FY 2019 Earnings

Reported February 21, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$5.6B	—	$5.2B	—	8.4%
Op. Income	$875M	—	$718M	—	21.9%
Gross Margin	28.7%	—	27.8%	—	1.0pp
Net Margin	10.0%	—	8.5%	—	1.5pp
EPS (Diluted)	$6.62	—	$4.85	—	36.5%
Free Cash Flow	$467M	—	$421M	—	11.1%

Revenue Flow

Item	Amount
REVENUE	$5.6B
Cost of Revenue	$4.0B
GROSS PROFIT	$1.6B
R&D Expenses	$0
Selling & Marketing	$206M
General & Administrative	$260M
SG&A Expenses	$465M
Other Expenses	$276M
Operating Expenses	$741M
Cost & Expenses	$4.7B
OPERATING INCOME	$875M
Interest Income	$47M
Interest Expense	$130M
Other Income/Expenses	-$133M
INCOME BEFORE TAX	$742M
Income Tax Expense	$182M
Net Income from Continuing Ops	$560M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$560M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$560M
D&A	$161M
EBIT	$872M
EBITDA	$1.0B
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$5.6B
Cost of Revenue	$4.0B
GROSS PROFIT	$1.6B
R&D Expenses	$0
Selling & Marketing	$206M
General & Administrative	$260M
SG&A Expenses	$465M
Other Expenses	$276M
Operating Expenses	$741M
Cost & Expenses	$4.7B
OPERATING INCOME	$875M
Interest Income	$47M
Interest Expense	$130M
Other Income/Expenses	-$133M
INCOME BEFORE TAX	$742M
Income Tax Expense	$182M
Net Income from Continuing Ops	$560M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$560M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$560M
D&A	$161M
EBIT	$872M
EBITDA	$1.0B
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$560M
Depreciation & Amortization	$161M
Stock-Based Compensation	$33M
Deferred Income Tax	-$19M
Other Non-Cash Items	$96M
Change in Working Capital	-$207M
OPERATING CASH FLOW	$624M
Capital Expenditure	-$156M
Acquisitions (Net)	-$26M
Purchases of Investments	-$4M
Sales/Maturities of Investments	$5M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$181M
Net Debt Issuance	$33M
Common Stock Repurchased	-$500M
Common Dividends Paid	-$83M
Other Financing Activities	$17M
NET CASH FROM FINANCING	-$533M
FREE CASH FLOW	$467M
Net Change in Cash	-$90M

Balance Sheet

Item	Amount
Cash & Equivalents	$590M
Short-Term Investments	$26M
Net Receivables	$1.4B
Inventory	$0
Other Current Assets	$902M
TOTAL CURRENT ASSETS	$2.9B
PP&E (Net)	$636M
Goodwill	$1.5B
Intangible Assets	$440M
Long-Term Investments	$12M
Tax Assets	$0
Other Non-Current Assets	$401M
TOTAL NON-CURRENT ASSETS	$3.0B
TOTAL ASSETS	$5.9B
Account Payables	$1.2B
Short-Term Debt	$45M
Deferred Revenue	$83M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1.9B
Long-Term Debt	$2.4B
Deferred Revenue NC	$83M
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$264M
TOTAL NON-CURRENT LIABILITIES	$3.0B
TOTAL LIABILITIES	$4.9B
Common Stock	$126.0K
Additional Paid-In Capital	$1.7B
Retained Earnings	$1.6B
Treasury Stock	-$2.2B
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.0B
Minority Interest	$0
TOTAL EQUITY	$1.0B
TOTAL LIABILITIES & EQUITY	$5.9B
Total Debt	$2.6B
Net Debt	$2.1B