LPLA FY 2023 Earnings Report — LPL Financial Holdings Inc. Revenue & Financial Results | Market Cap Arena

LPL Financial Holdings Inc.LPLA

FY 2023 Earnings

Reported February 21, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$10.1B	—	$8.6B	—	16.9%
Op. Income	$1.6B	—	$1.2B	—	31.8%
Gross Margin	30.4%	—	27.5%	—	2.8pp
Net Margin	10.6%	—	9.8%	—	0.8pp
EPS (Diluted)	$13.69	—	$10.40	—	31.6%
Free Cash Flow	$109M	—	$1.6B	—	-93.3%

Revenue Flow

Item	Amount
REVENUE	$10.1B
Cost of Revenue	$7.0B
GROSS PROFIT	$3.1B
R&D Expenses	$0
Selling & Marketing	$459M
General & Administrative	$397M
SG&A Expenses	$856M
Other Expenses	$564M
Operating Expenses	$1.4B
Cost & Expenses	$8.4B
OPERATING INCOME	$1.6B
Interest Income	$0
Interest Expense	$187M
Other Income/Expenses	-$187M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$379M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$354M
EBIT	$1.6B
EBITDA	$2.0B
EPS	$14
EPS Diluted	$14

Income Statement

Item	Amount
REVENUE	$10.1B
Cost of Revenue	$7.0B
GROSS PROFIT	$3.1B
R&D Expenses	$0
Selling & Marketing	$459M
General & Administrative	$397M
SG&A Expenses	$856M
Other Expenses	$564M
Operating Expenses	$1.4B
Cost & Expenses	$8.4B
OPERATING INCOME	$1.6B
Interest Income	$0
Interest Expense	$187M
Other Income/Expenses	-$187M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$379M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$354M
EBIT	$1.6B
EBITDA	$2.0B
EPS	$14
EPS Diluted	$14

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$354M
Stock-Based Compensation	$69M
Deferred Income Tax	-$68M
Other Non-Cash Items	$287M
Change in Working Capital	-$1.2B
OPERATING CASH FLOW	$513M
Capital Expenditure	-$403M
Acquisitions (Net)	-$453M
Purchases of Investments	-$9M
Sales/Maturities of Investments	$6M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$860M
Net Debt Issuance	$1.0B
Common Stock Repurchased	-$1.1B
Common Dividends Paid	-$92M
Other Financing Activities	-$35M
NET CASH FROM FINANCING	-$209M
FREE CASH FLOW	$109M
Net Change in Cash	-$556M

Balance Sheet

Item	Amount
Cash & Equivalents	$466M
Short-Term Investments	$76M
Net Receivables	$2.9B
Inventory	$0
Other Current Assets	$2.1B
TOTAL CURRENT ASSETS	$5.7B
PP&E (Net)	$1.0B
Goodwill	$1.9B
Intangible Assets	$672M
Long-Term Investments	$192M
Tax Assets	$167M
Other Non-Current Assets	$779M
TOTAL NON-CURRENT ASSETS	$4.7B
TOTAL ASSETS	$10.4B
Account Payables	$2.9B
Short-Term Debt	$280M
Deferred Revenue	$156M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$3.6B
Long-Term Debt	$3.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.1B
TOTAL NON-CURRENT LIABILITIES	$4.7B
TOTAL LIABILITIES	$8.3B
Common Stock	$130.0K
Additional Paid-In Capital	$2.0B
Retained Earnings	$4.1B
Treasury Stock	-$4.0B
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.1B
Minority Interest	$0
TOTAL EQUITY	$2.1B
TOTAL LIABILITIES & EQUITY	$10.4B
Total Debt	$4.0B
Net Debt	$3.5B