LPLA FY 2020 Earnings Report — LPL Financial Holdings Inc. Revenue & Financial Results | Market Cap Arena

LPL Financial Holdings Inc.LPLA

FY 2020 Earnings

Reported February 23, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$5.9B	—	$5.6B	—	4.4%
Op. Income	$732M	—	$875M	—	-16.4%
Gross Margin	25.4%	—	28.7%	—	-3.3pp
Net Margin	8.0%	—	10.0%	—	-1.9pp
EPS (Diluted)	$5.86	—	$6.62	—	-11.5%
Free Cash Flow	$634M	—	$467M	—	35.7%

Revenue Flow

Item	Amount
REVENUE	$5.9B
Cost of Revenue	$4.4B
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$208M
General & Administrative	$276M
SG&A Expenses	$484M
Other Expenses	$278M
Operating Expenses	$762M
Cost & Expenses	$5.1B
OPERATING INCOME	$732M
Interest Income	$29M
Interest Expense	$106M
Other Income/Expenses	-$106M
INCOME BEFORE TAX	$626M
Income Tax Expense	$153M
Net Income from Continuing Ops	$473M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$473M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$473M
D&A	$177M
EBIT	$732M
EBITDA	$909M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$5.9B
Cost of Revenue	$4.4B
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$208M
General & Administrative	$276M
SG&A Expenses	$484M
Other Expenses	$278M
Operating Expenses	$762M
Cost & Expenses	$5.1B
OPERATING INCOME	$732M
Interest Income	$29M
Interest Expense	$106M
Other Income/Expenses	-$106M
INCOME BEFORE TAX	$626M
Income Tax Expense	$153M
Net Income from Continuing Ops	$473M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$473M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$473M
D&A	$177M
EBIT	$732M
EBITDA	$909M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$473M
Depreciation & Amortization	$177M
Stock-Based Compensation	$34M
Deferred Income Tax	-$24M
Other Non-Cash Items	$112M
Change in Working Capital	$18M
OPERATING CASH FLOW	$790M
Capital Expenditure	-$156M
Acquisitions (Net)	-$31M
Purchases of Investments	-$7M
Sales/Maturities of Investments	$5M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$187M
Net Debt Issuance	-$57M
Common Stock Repurchased	-$150M
Common Dividends Paid	-$79M
Other Financing Activities	$11M
NET CASH FROM FINANCING	-$275M
FREE CASH FLOW	$634M
Net Change in Cash	$327M

Balance Sheet

Item	Amount
Cash & Equivalents	$809M
Short-Term Investments	$10M
Net Receivables	$1.5B
Inventory	$0
Other Current Assets	$1.0B
TOTAL CURRENT ASSETS	$3.5B
PP&E (Net)	$685M
Goodwill	$1.5B
Intangible Assets	$397M
Long-Term Investments	$86M
Tax Assets	$24M
Other Non-Current Assets	$436M
TOTAL NON-CURRENT ASSETS	$3.1B
TOTAL ASSETS	$6.6B
Account Payables	$1.9B
Short-Term Debt	$0
Deferred Revenue	$95M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$2.2B
Long-Term Debt	$2.3B
Deferred Revenue NC	$95M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$378M
TOTAL NON-CURRENT LIABILITIES	$3.1B
TOTAL LIABILITIES	$5.3B
Common Stock	$127.0K
Additional Paid-In Capital	$1.8B
Retained Earnings	$1.9B
Treasury Stock	-$2.4B
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$6.6B
Total Debt	$2.6B
Net Debt	$1.8B