Income StatementBalance SheetCash FlowSegments
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LPL Financial Holdings Cash Flow Statement

Operating, investing, and financing cash movements

LPL Financial Holdings generated -$906.0M in operating cash flow over the trailing twelve months. After $616.7M in capital expenditures, free cash flow was -$1.5B. Free cash flow decreased 4.2% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$1.1BNet Cash From Investing (TTM)-$2.5BNet Cash From Financing (TTM)$3.3BCapital Expenditures (TTM)$616.7MDepreciation And Amortization Cf (TTM)$406.8MNet Change In Cash (TTM)$1.7B
Latest FilingQ1 2026
Report Date2026-05-04
Market Cap$23.6B
P/E Ratio26.25
ROE20.45%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$860.8M$78.3M$111.9M$1.5B$57.5M$131.4M
Proceeds from sale of other investments$0.0$1.8M$1.8M$1.8M$1.8M—
Capital expenditures$165.5M$119.5M$137.0M$142.2M$171.7M$165.8M
Proceeds from Sale of Other Investments$0.0$1.8M$1.8M$1.8M$1.8M—
Payments to Acquire Investments, Other$0.0$7.3M$7.3M$7.3M$7.3M—
Proceeds from other investments$0.0$1.8M$1.8M$1.8M$1.8M—
Net cash from investing activities-$1.0B-$199.2M-$250.5M-$1.7B-$253.4M-$311.5M
Proceeds from maturities/sales of investments-$3.8M$1.3M$1.3M$1.4M$3.4M$1.3M
Purchases of fixed maturity securities$0.0$1.3M$1.2M$1.3M$1.3M$1.2M
Purchases of investments—$0.0———$12.1M
Proceeds from Sale of Other Investments$0.0$1.8M$1.8M$1.8M$1.8M—
Capitalized Interest Paid$9.6M$1.4M$1.6M$1.5M$2.3M$2.3M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Debt Extinguishment Costs$0.0$11.9M$11.9M$11.9M$11.9M—
Payments of Debt Extinguishment Costs$0.0$11.9M$11.9M$11.9M$11.9M—
Proceeds from issuance of debt$1.2B$69.0M$0.0$544.0M$263.0M$295.0M
Repayments of debt$103.0M$1.1B$0.0$200.0M$528.0M$374.0M
Dividends paid$22.5M$22.4M$24.0M$24.0M$24.0M$24.1M
Payment Of Financing Obligations$0.0$0.0$222.0K$337.0K$343.0K$348.0K
Repayments of Unsecured Debt$256.8M$0.0$0.0$0.0$0.0—
Payment for Debt Extinguishment Costs$0.0$11.9M$11.9M$11.9M$11.9M—
Net cash from financing activities$934.8M$30.0M$3.1B$320.6M$0.0-$127.7M
Other financing activities$0.0$7.2M$26.0M$1.7M$12.5M$10.1M
Payment of debt issuance costs$573.0K$18.8M$12.2M$0.0$200.0K$0.0
Payments for finance leases—$156.0K$53.0K——$0.0
Proceeds from issuance of common stock$0.0$7.5M$1.7B——$5.0M
Payment for Debt Extinguishment Costs$0.0$11.9M$11.9M$11.9M$11.9M—
Repurchases of common stock$100.1M$100.2M———$0.0
Taxes paid for net share settlement$835.0K$29.5M$1.5M$1.6M$836.0K$19.2M
Payment for Debt Extinguishment or Prepayment Cost$0.0$11.9M$11.9M$11.9M$11.9M—
Payment for debt extinguishment or prepayment costs$0.0$11.9M$11.9M$11.9M$11.9M—
Proceeds from Repayments of Secured Debt$255.0M$0.0$0.0$0.0$0.0—
Premiums Paid to Extinguish Debt$0.0$11.9M$11.9M$11.9M$11.9M—

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Amortization of debt issuance costs$2.8M$7.9M$6.7M$3.5M$3.5M$3.5M
Amortization of intangible assets$42.6M$43.5M$46.1M$64.7M$82.2M$67.2M
Change in accounts payable$63.2M-$106.8M$74.4M$143.2M$50.5M-$72.6M
Change in other assets$232.2M$100.0M$89.9M$48.1M$175.3M$53.9M
Change in other liabilities$167.4M$148.8M—-$729.2M—$223.7M
Other working capital changes$33.1M-$2.5M-$2.5M-$220.0K$10.2M-$3.1M
Change in receivables$60.7M$56.3M$11.6M$69.0M$133.5M$160.0M
Change in fair value of contingent consideration$11.2M$6.6M$309.0K$2.7M$14.6M$7.5M
Deferred income taxes-$76.3M-$72.0K-$106.0K-$171.0K$53.3M-$21.9M
Depreciation and amortization$92.0M$92.4M$96.2M$99.7M$105.1M$105.8M
Net cash from operating activities—$339.8M$193.3M-$1.7B—$290.4M
Net income$270.7M$318.6M$273.2M-$29.5M$300.7M$356.4M
Changes In Accrued Commissions And Advisory Fees Payable$38.4M-$20.2M-$223.0K$37.4M$6.2M$8.6M
Unrealized loss on deferred compensation plans$16.6M$18.2M$18.2M$18.2M$18.2M—
Increase (Decrease) In Operating Lease Assets$485.5K$754.8K$754.8K$754.8K$754.8K—
Increase (Decrease) in Other Loans$454.6M$279.5M$170.0M$1.1B$185.8M$206.5M
Increase (Decrease) In Right Of Use Assets And Lease Liabilities Net—-$540.0K—$1.4M—$4.2M
Payables to clients-$140.5M$146.6M$45.2M—$311.7M-$191.3M
Increase Decrease Receivables From Clients$12.9M-$21.0M$96.7M$68.6M$31.5M$63.1M
Loan forgiveness$83.6M$89.7M$97.9M$107.9M$135.4M$138.6M
Provision for credit losses$5.5M-$749.0K$3.9M$5.8M$8.0M$8.5M
Change in Broker-Dealer Payables-$81.9M$122.8M$21.6M——$157.2M
Stock-based compensation$26.8M$19.2M$20.3M$19.4M$20.4M$23.1M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Finance lease interest paid—$158.0K$55.0K——$0.0
Operating lease payments$8.9M$8.3M$9.3M$13.6M$8.3M$9.5M
ROU assets obtained - operating leases$11.2M$25.1M$5.2M$4.7M$22.8M$32.4M
Income taxes paid$18.8M$9.0M$294.0M$11.2M$14.4M$12.3M
Interest paid$106.7M$53.6M$105.4M$79.4M$141.6M$72.3M
Non-cash Acquisition, Liabilities Assumed—$129.0K$9.1M$77.6M—$16.8M
Cash paid for amounts included in the measurement of finance lease liabilities$2.2M$52.3K$52.3K$52.3K$52.3K—

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow-$344.3M$220.3M$56.3M-$1.9B—$124.6M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net increase (decrease) in cash—$170.6M$3.1B—$234.0M-$148.8M
Contingent consideration and other liabilities recognized at acquisition date$22.0M$21.7M$21.7M$21.7M$21.7M—