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LPL Financial Holdings LPLA Asset-Based Fees Revenue

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Segments

By product

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Client Cash$1.66B+16.2%
Other Asset Based Fees$1.34B+24.9%

Other financials

Income statement

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Revenue$5.2B+35.2%
Net income$379.3M+38.8%
EPS (diluted)$4.74+39.4%

Balance sheet

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Cash & equivalents$1.3B-78.4%
Total debt$7.5B+2.1%
Total equity$5.8B+13.4%
Total assets$19.8B+13.3%

Cash flow

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Operating cash flow$290.4M-14.5%
CapEx$165.8M+38.8%
Free cash flow$124.6M-43.4%

Valuation

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Market cap$28.34B-6.5%
Enterprise value$34.53B+8.9%
P/E28.2×+1.0×
P/S1.5×-0.7×

Profitability

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Net margin5.1%-2.8pp
FCF margin-12.5%-13.3pp

Returns & leverage

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Return on equity18.6%-10.9pp
Debt / equity1.3×-0.1×

Where this comes from

Reported directly by LPL Financial Holdings in its filing.

Tagged under the XBRL concept lpla:AssetBasedFeesRevenue.

The source filing: LPL Financial Holdings’s 10-K, filed February 23, 2026.

Filed
Feb 23, 2026, 4:48 PM EST
Fiscal year
FY2025
Accession
0001628280-26-010705
Line itemYears Ended December 31, 2025Years Ended December 31, 2024Years Ended December 31, 2023
Asset-based:
Client cash1,657,8071,426,5281,509,869
Other asset-based1,338,1261,071,170867,860
Total asset-based2,995,9332,497,6982,377,729
Service and fee652,395552,020508,437
Transaction270,813236,274199,939
Interest income, net231,616187,606159,415
Other172,412144,164119,024

Item 8. Financial Statements and Supplementary Data

FAQ

What is LPL Financial Holdings's asset-based fees revenue?
LPL Financial Holdings (LPLA) reported asset-based fees revenue of $748.98M in Q4 2025.
How has LPL Financial Holdings's asset-based fees revenue changed year-over-year?
LPL Financial Holdings's asset-based fees revenue increased by 19.9% year-over-year, from $624.42M to $748.98M.
What is the long-term trend for LPL Financial Holdings's asset-based fees revenue?
Over 4 years (2021 to 2025), LPL Financial Holdings's asset-based fees revenue has grown at a 27.1% compound annual growth rate (CAGR), from $1.15B to $3B.
What does asset-based fees revenue mean?
Fees calculated as a percentage of the total value of assets held in client accounts, excluding direct advisory fees. These fees are often associated with administrative services, custody, or platform access.

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