LPLA FY 2021 Earnings Report — LPL Financial Holdings Inc. Revenue & Financial Results | Market Cap Arena

LPL Financial Holdings Inc.LPLA

FY 2021 Earnings

Reported February 22, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$7.7B	—	$5.9B	—	31.5%
Op. Income	$730M	—	$732M	—	-0.2%
Gross Margin	22.2%	—	25.4%	—	-3.2pp
Net Margin	6.0%	—	8.0%	—	-2.1pp
EPS (Diluted)	$5.63	—	$5.86	—	-3.9%
Free Cash Flow	$237M	—	$634M	—	-62.6%

Revenue Flow

Item	Amount
REVENUE	$7.7B
Cost of Revenue	$6.0B
GROSS PROFIT	$1.7B
R&D Expenses	$0
Selling & Marketing	$302M
General & Administrative	$319M
SG&A Expenses	$621M
Other Expenses	$362M
Operating Expenses	$984M
Cost & Expenses	$7.0B
OPERATING INCOME	$730M
Interest Income	$29M
Interest Expense	$104M
Other Income/Expenses	-$129M
INCOME BEFORE TAX	$601M
Income Tax Expense	$141M
Net Income from Continuing Ops	$460M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$460M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$460M
D&A	$231M
EBIT	$706M
EBITDA	$936M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$7.7B
Cost of Revenue	$6.0B
GROSS PROFIT	$1.7B
R&D Expenses	$0
Selling & Marketing	$302M
General & Administrative	$319M
SG&A Expenses	$621M
Other Expenses	$362M
Operating Expenses	$984M
Cost & Expenses	$7.0B
OPERATING INCOME	$730M
Interest Income	$29M
Interest Expense	$104M
Other Income/Expenses	-$129M
INCOME BEFORE TAX	$601M
Income Tax Expense	$141M
Net Income from Continuing Ops	$460M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$460M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$460M
D&A	$231M
EBIT	$706M
EBITDA	$936M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$460M
Depreciation & Amortization	$231M
Stock-Based Compensation	$44M
Deferred Income Tax	$18M
Other Non-Cash Items	$181M
Change in Working Capital	-$481M
OPERATING CASH FLOW	$453M
Capital Expenditure	-$216M
Acquisitions (Net)	-$246M
Purchases of Investments	-$2M
Sales/Maturities of Investments	$5M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$459M
Net Debt Issuance	$478M
Common Stock Repurchased	-$90M
Common Dividends Paid	-$80M
Other Financing Activities	-$29M
NET CASH FROM FINANCING	$279M
FREE CASH FLOW	$237M
Net Change in Cash	$273M

Balance Sheet

Item	Amount
Cash & Equivalents	$495M
Short-Term Investments	$20M
Net Receivables	$2.2B
Inventory	$0
Other Current Assets	$1.6B
TOTAL CURRENT ASSETS	$4.5B
PP&E (Net)	$754M
Goodwill	$1.6B
Intangible Assets	$455M
Long-Term Investments	$124M
Tax Assets	$6M
Other Non-Current Assets	$557M
TOTAL NON-CURRENT ASSETS	$3.5B
TOTAL ASSETS	$8.0B
Account Payables	$2.3B
Short-Term Debt	$90M
Deferred Revenue	$161M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$2.7B
Long-Term Debt	$2.7B
Deferred Revenue NC	$161M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$460M
TOTAL NON-CURRENT LIABILITIES	$3.6B
TOTAL LIABILITIES	$6.3B
Common Stock	$129.0K
Additional Paid-In Capital	$1.8B
Retained Earnings	$2.3B
Treasury Stock	-$2.5B
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$0
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$8.0B
Total Debt	$3.1B
Net Debt	$2.6B