LPLA FY 2022 Earnings Report — LPL Financial Holdings Inc. Revenue & Financial Results | Market Cap Arena

LPL Financial Holdings Inc.LPLA

FY 2022 Earnings

Reported February 23, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$8.6B	—	$7.7B	—	11.4%
Op. Income	$1.2B	—	$730M	—	69.5%
Gross Margin	27.5%	—	22.2%	—	5.4pp
Net Margin	9.8%	—	6.0%	—	3.9pp
EPS (Diluted)	$10.40	—	$5.63	—	84.7%
Free Cash Flow	$1.6B	—	$237M	—	591.1%

Revenue Flow

Item	Amount
REVENUE	$8.6B
Cost of Revenue	$6.2B
GROSS PROFIT	$2.4B
R&D Expenses	$0
Selling & Marketing	$340M
General & Administrative	$821M
SG&A Expenses	$1.2B
Other Expenses	-$29M
Operating Expenses	$1.1B
Cost & Expenses	$7.4B
OPERATING INCOME	$1.2B
Interest Income	$0
Interest Expense	$126M
Other Income/Expenses	-$126M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$266M
Net Income from Continuing Ops	$846M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$846M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$846M
D&A	$287M
EBIT	$1.2B
EBITDA	$1.5B
EPS	$11
EPS Diluted	$10

Income Statement

Item	Amount
REVENUE	$8.6B
Cost of Revenue	$6.2B
GROSS PROFIT	$2.4B
R&D Expenses	$0
Selling & Marketing	$340M
General & Administrative	$821M
SG&A Expenses	$1.2B
Other Expenses	-$29M
Operating Expenses	$1.1B
Cost & Expenses	$7.4B
OPERATING INCOME	$1.2B
Interest Income	$0
Interest Expense	$126M
Other Income/Expenses	-$126M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$266M
Net Income from Continuing Ops	$846M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$846M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$846M
D&A	$287M
EBIT	$1.2B
EBITDA	$1.5B
EPS	$11
EPS Diluted	$10

Cash Flow Statement

Item	Amount
Net Income	$846M
Depreciation & Amortization	$287M
Stock-Based Compensation	$53M
Deferred Income Tax	-$93M
Other Non-Cash Items	$215M
Change in Working Capital	$638M
OPERATING CASH FLOW	$1.9B
Capital Expenditure	-$307M
Acquisitions (Net)	-$56M
Purchases of Investments	-$18M
Sales/Maturities of Investments	$5M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$376M
Net Debt Issuance	-$101M
Common Stock Repurchased	-$325M
Common Dividends Paid	-$80M
Other Financing Activities	$2M
NET CASH FROM FINANCING	-$504M
FREE CASH FLOW	$1.6B
Net Change in Cash	$1.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$848M
Short-Term Investments	$37M
Net Receivables	$2.4B
Inventory	$0
Other Current Assets	$2.3B
TOTAL CURRENT ASSETS	$5.7B
PP&E (Net)	$873M
Goodwill	$1.6B
Intangible Assets	$428M
Long-Term Investments	$138M
Tax Assets	$99M
Other Non-Current Assets	$565M
TOTAL NON-CURRENT ASSETS	$3.7B
TOTAL ASSETS	$9.5B
Account Payables	$3.3B
Short-Term Debt	$0
Deferred Revenue	$138M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$3.6B
Long-Term Debt	$2.7B
Deferred Revenue NC	$138M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$595M
TOTAL NON-CURRENT LIABILITIES	$3.7B
TOTAL LIABILITIES	$7.3B
Common Stock	$130.0K
Additional Paid-In Capital	$1.9B
Retained Earnings	$3.1B
Treasury Stock	-$2.8B
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.2B
Minority Interest	$0
TOTAL EQUITY	$2.2B
TOTAL LIABILITIES & EQUITY	$9.5B
Total Debt	$2.9B
Net Debt	$2.1B