LPL Financial Holdings Inc. (LPLA) Balance Sheet
LPLA balance sheet, 2025
December 31, 2025 · U.S. dollars$18.49B assets = $13.15B liabilities + $5.34B equity
Both columns are drawn to the same scale: what LPLA owns equals what it owes plus shareholders’ equity. Hover a block for its value.
LPLA financial health
Descriptive bands, not a rating. Fiscal 2025.
LPLA balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $4.83B2016 | $18.49B2025 | +16.1%/yr | |
| Total liabilities | $4.01B2016 | $13.15B2025 | +14.1%/yr | |
| Shareholders’ equity | $821.0M2016 | $5.34B2025 | +23.1%/yr | |
| Cash & short-term investments | $747.7M2016 | $1.13B2025 | +4.7%/yr | |
| Total debt | $2.37B2016 | $7.26B2025 | +13.2%/yr | |
| Net cash (debt) | −$1.63B2016 | −$6.13B2025 | −$4.5B | |
| Working capital | $1.45B2016 | $5.17B2025 | +$3.7B | |
| Book value per share | $9.122016 | $67.602025 | +24.9%/yr | |
| Current ratio | 22.492016 | 2.422025 | −20.07 | |
| Debt / equity | 2.892016 | 1.362025 | −1.53 | |
| Shares outstanding | 90.0M2016 | 79.1M2025 | −1.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
LPLA assets
LPLA liabilities and equity
LPLA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
LPLA balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $1.13B | $1.01B | $541.8M | $847.5M | $495.2M | $808.6M | $616.2M | $511.1M | $811.1M | $747.7M |
| Cash & equivalents | $1.04B | $967.1M | $465.7M | $847.5M | $495.2M | $808.6M | $590.2M | $511.1M | $811.1M | $747.7M |
| Short-term investments | $91.5M | $42.3M | $76.1M | $52.6M | $49.2M | $14.7M | $25.9M | $5.0M | $763.8M | $768.2M |
| Receivables | $5.76B | $3.89B | $2.86B | $1.30B | $1.26B | $944.9M | $1.37B | $828.4M | $769.4M | $706.0M |
| Inventory | $0 | $0 | −$15.2M | $1 | $4.30B | $1 | −$25.9M | $29.3M | $17.9M | $11.4M |
| Other current assets | $1.93B | $1.91B | $2.30B | $0 | $0 | $0 | $928.0M | $0 | $0 | $50.9M |
| Total current assets | $8.81B | $6.82B | $5.69B | $2.14B | $1.76B | $1.75B | $2.89B | $1.34B | $1.57B | $1.52B |
| Property, plant & equipment (net) | $1.41B | $1.33B | $1.03B | $780.4M | $658.8M | $684.8M | $635.5M | $461.4M | $412.7M | $387.4M |
| Goodwill & intangible assets | $5.98B | $3.66B | $2.53B | $2.07B | $2.10B | $1.91B | $1.94B | $1.97B | $1.84B | $1.72B |
| Long-term investments | $387.1M | $293.9M | $268.4M | $52.6M | $49.2M | $42.5M | $58.3M | $42.3M | $29.7M | $20.3M |
| Other non-current assets | $1.91B | $1.22B | $870.0M | $4.44B | $3.43B | $2.13B | $354.9M | $1.66B | $1.50B | $1.19B |
| Total assets | $18.49B | $13.32B | $10.39B | $9.48B | $7.99B | $6.52B | $5.88B | $5.48B | $5.36B | $4.83B |
| Liabilities | ||||||||||
| Accounts payable | $3.28B | $2.62B | $2.92B | $596.4M | $554.1M | $771.3M | $1.22B | $554.8M | $515.4M | $448.6M |
| Short-term debt | — | $1.05B | $280.0M | $458.3M | $90.0M | $676.0M | $45.0M | $376.8M | $185.9M | $198.8M |
| Deferred revenue | — | $207.6M | $156.2M | $138.1M | $160.9M | $95.3M | $82.8M | $80.5M | $72.2M | $62.8M |
| Total current liabilities | $3.64B | $4.19B | $3.57B | $596.4M | $644.1M | $771.3M | $1.90B | $129.3M | $72.7M | $67.4M |
| Long-term debt | $7.18B | $4.45B | $3.73B | $2.72B | $2.81B | $2.35B | $2.40B | $2.37B | $2.49B | $2.18B |
| Lease obligations | $204.0M | $252.8M | $228.9M | $230.9M | $236.4M | $246.8M | $250.5M | $104.6M | $107.5M | $105.6M |
| Other long-term liabilities | $2.33B | $1.74B | $1.00B | $0 | $160.9M | $342.1M | $554.3M | $203.4M | $1.83B | $1.77B |
| Total liabilities | $13.15B | $10.39B | $8.31B | $7.31B | $6.32B | $5.21B | $4.86B | $4.50B | $4.39B | $4.01B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $136,000 | $131,000 | $130,000 | $130,000 | $129,000 | $127,000 | $126,000 | $125,000 | $123,000 | $120,000 |
| Retained earnings (deficit) | $5.85B | $5.07B | $4.09B | $3.10B | $2.33B | $1.94B | $1.55B | $1.07B | $718.3M | $569.9M |
| Treasury stock | — | — | — | −$2.85B | −$2.50B | −$2.39B | −$2.23B | −$1.73B | −$1.31B | −$1.19B |
| Accumulated other comprehensive income | — | — | $0 | $2.17B | $1.67B | $1.31B | −$388.4M | −$308.2M | −$427.3M | $315,000 |
| Minority interest | — | — | — | — | — | — | — | — | — | $0 |
| Total shareholders' equity | $5.34B | $2.93B | $2.08B | $2.17B | $1.67B | $1.31B | $1.02B | $974.1M | $965.0M | $821.0M |
| Key figures | ||||||||||
| Total debt | $7.26B | $5.75B | $3.96B | $3.18B | $2.90B | $3.02B | $2.65B | $2.75B | $2.68B | $2.37B |
| Net cash (debt) | −$6.13B | −$4.74B | −$3.42B | −$2.33B | −$2.41B | −$2.21B | −$2.03B | −$2.24B | −$1.87B | −$1.63B |
| Working capital | $5.17B | $2.62B | $2.12B | $1.55B | $1.11B | $982.3M | $984.8M | $1.21B | $1.50B | $1.45B |
| Tangible book value | −$631.0M | −$725.3M | −$449.3M | $97.4M | −$426.9M | −$596.5M | −$919.6M | −$1.00B | −$876.9M | −$898.8M |
| Book value per share | $67.60 | $38.85 | $26.70 | $26.67 | $20.44 | $16.29 | $12.10 | $10.75 | $10.48 | $9.12 |
| Shares outstanding | 79.1M | 75.4M | 77.9M | 81.3M | 81.7M | 80.7M | 84.6M | 90.6M | 92.1M | 90.0M |
| Current ratio | 2.42 | 1.62 | 1.60 | 3.59 | 2.73 | 2.27 | 1.52 | 10.36 | 21.67 | 22.49 |
| Quick ratio | 1.89 | 1.17 | 0.95 | 3.59 | 2.73 | 2.27 | 1.04 | 10.36 | 21.74 | 21.57 |
| Debt / equity | 1.36 | 1.96 | 1.91 | 1.47 | 1.74 | 2.30 | 2.59 | 2.82 | 2.78 | 2.89 |
| Equity / assets | 28.9% | 22.0% | 20.0% | 22.9% | 20.9% | 20.2% | 17.4% | 17.8% | 18.0% | 17.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $2.70B | $2.91B | $1.13B | $1.54B | $4.31B | $1.35B | $1.01B | $1.57B | $1.39B | $1.15B | $541.8M | $835.4M |
| Cash & equivalents | $2.70B | $2.91B | $1.04B | $1.34B | $4.19B | $1.23B | $967.1M | $1.47B | $1.32B | $1.10B | $465.7M | $799.2M |
| Short-term investments | $203.5M | $5.4M | $91.5M | $199.9M | $124.6M | $122.7M | $42.3M | $95.9M | $76.0M | $43.4M | $76.1M | $36.2M |
| Receivables | $5.56B | $6.07B | $5.76B | $5.58B | $4.33B | $4.13B | $3.89B | $3.39B | $3.16B | $3.13B | $2.86B | $2.72B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$15.2M | −$45.1M | −$15.3M | $0 | −$36.2M |
| Other current assets | $232.9M | $0 | $1.93B | $1.66B | $1.94B | $1.86B | $1.91B | $1.63B | $1.84B | $1.92B | $2.29B | $1.63B |
| Total current assets | $8.48B | $8.97B | $8.81B | $8.78B | $10.58B | $7.34B | $6.82B | $6.57B | $6.35B | $6.18B | $5.69B | $5.14B |
| Property, plant & equipment (net) | $1.57B | $1.47B | $1.41B | $1.50B | $1.41B | $1.37B | $1.33B | $1.25B | $1.16B | $1.08B | $1.03B | $978.4M |
| Goodwill & intangible assets | $6.12B | $6.07B | $5.98B | $5.98B | $3.85B | $3.78B | $3.66B | $2.65B | $2.64B | $2.53B | $2.53B | $2.41B |
| Long-term investments | $437.3M | $385.6M | $387.1M | $363.4M | $328.7M | $296.4M | $293.9M | $248.9M | $224.8M | $254.5M | $268.4M | $52.6M |
| Other non-current assets | $3.18B | $1.94B | $1.91B | $1.42B | $1.30B | $1.17B | $1.22B | $1.22B | $1.13B | $970.9M | $870.0M | $900.7M |
| Total assets | $19.79B | $18.84B | $18.49B | $18.03B | $17.47B | $13.96B | $13.32B | $11.94B | $11.50B | $11.02B | $10.39B | $9.49B |
| Liabilities | ||||||||||||
| Accounts payable | $812.2M | $3.17B | $3.28B | $2.96B | $2.92B | $2.78B | $2.62B | $2.74B | $2.64B | $3.05B | $2.92B | $2.49B |
| Short-term debt | — | $370.1M | — | $344.0M | — | — | $1.05B | — | $210.9M | $401.0M | $280.0M | $412.0M |
| Deferred revenue | — | — | — | $265.5M | $263.3M | $270.0M | $207.6M | $208.6M | $208.3M | $206.7M | $156.2M | $172.2M |
| Total current liabilities | $3.45B | $370.1M | $3.64B | $3.93B | $3.49B | $3.35B | $4.19B | $3.20B | $3.09B | $3.89B | $3.57B | $3.28B |
| Long-term debt | $7.18B | $7.18B | $7.18B | $7.18B | $7.18B | $5.69B | $4.45B | $4.44B | $4.44B | $3.45B | $3.73B | $3.12B |
| Lease obligations | $224.9M | $231.1M | $204.0M | $185.5M | $163.4M | $271.3M | $252.8M | $238.4M | $227.3M | $227.3M | $228.9M | $230.9M |
| Other long-term liabilities | $2.80B | $5.60B | $2.33B | $1.89B | $1.74B | $1.80B | $1.74B | $1.53B | $1.46B | $1.41B | $1.00B | $992.1M |
| Total liabilities | $14.03B | $13.15B | $13.15B | $12.99B | $12.40B | $10.84B | $10.39B | $9.17B | $8.99B | $8.75B | $8.31B | $7.40B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $137,000 | $137,000 | $136,000 | $136,000 | $136,000 | $131,000 | $131,000 | $131,000 | $131,000 | $131,000 | $130,000 | $130,000 |
| Retained earnings (deficit) | $6.52B | $6.17B | $5.85B | $5.57B | $5.62B | $5.37B | $5.07B | $4.81B | $4.58B | $4.35B | $4.09B | $3.89B |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | — | — | $0 | — |
| Total shareholders' equity | $5.76B | $5.69B | $5.34B | $5.04B | $5.07B | $3.12B | $2.93B | $2.77B | $2.52B | $2.27B | $2.08B | $2.09B |
| Key figures | ||||||||||||
| Total debt | $7.46B | $7.89B | $7.26B | $7.71B | $7.34B | $5.96B | $5.75B | $4.68B | $4.67B | $4.08B | $3.96B | $3.36B |
| Net cash (debt) | −$4.76B | −$4.99B | −$6.13B | −$6.16B | −$3.03B | −$4.61B | −$4.74B | −$3.11B | −$3.28B | −$2.94B | −$3.42B | −$2.52B |
| Working capital | $5.03B | $8.60B | $5.17B | $4.85B | $7.09B | $3.99B | $2.62B | $3.38B | $3.26B | $2.29B | $2.12B | $1.86B |
| Tangible book value | −$358.4M | −$387.4M | −$631.0M | −$934.8M | $1.22B | −$659.9M | −$725.3M | $121.1M | −$127.7M | −$261.9M | −$449.3M | −$322.8M |
| Book value per share | $71.74 | $70.68 | $66.47 | $62.76 | $65.26 | $41.59 | $38.90 | $36.76 | $33.29 | $30.08 | $27.27 | $27.10 |
| Shares outstanding | 80.2M | 80.4M | 80.4M | 80.4M | 77.8M | 75.1M | 75.3M | 75.4M | 75.5M | 75.5M | 76.2M | 77.1M |
| Current ratio | 2.46 | 24.24 | 2.42 | 2.24 | 3.03 | 2.19 | 1.62 | 2.06 | 2.06 | 1.59 | 1.60 | 1.57 |
| Quick ratio | 2.39 | 24.24 | 1.89 | 1.81 | 2.48 | 1.64 | 1.17 | 1.55 | 1.48 | 1.10 | 0.95 | 1.08 |
| Debt / equity | 1.30 | 1.39 | 1.36 | 1.53 | 1.45 | 1.91 | 1.96 | 1.69 | 1.86 | 1.80 | 1.91 | 1.61 |
| Equity / assets | 29.1% | 30.2% | 28.9% | 28.0% | 29.0% | 22.4% | 22.0% | 23.2% | 21.9% | 20.6% | 20.0% | 22.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 23, 2026); data from EODHD.
LPLA financial position
At the end of fiscal 2025 (December 31, 2025), LPL Financial had total assets of $18.5 billion (up 38.9% from a year earlier), total liabilities of $13.1 billion and shareholders' equity of $5.3 billion. It held $1.1 billion in cash and short-term investments against $7.3 billion of debt, net debt of $6.1 billion. Its current ratio was 2.42. In the latest quarter (ended June 30, 2026) total assets were $19.8 billion and equity $5.8 billion.
Related: LPLA income statement, LPLA cash flow statement, LPLA key metrics. See the LPLA stock overview for the latest quote and news.
LPLA balance sheet FAQ
What are LPL Financial's total assets?
LPL Financial reported total assets of $18.5 billion at the end of fiscal 2025 (December 31, 2025), compared with $13.3 billion a year earlier.
How much debt does LPL Financial have?
LPL Financial had $7.3 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.36.
How much cash does LPL Financial have?
LPL Financial held $1.1 billion in cash and short-term investments at the end of fiscal 2025; with $7.3 billion of debt that is net debt of $6.1 billion.
What is LPL Financial's book value?
LPL Financial's shareholders' equity (book value) was $5.3 billion at the end of fiscal 2025, or $67.60 per share.
What is LPL Financial's current ratio?
LPL Financial had current assets of $8.8 billion and current liabilities of $3.6 billion, a current ratio of 2.42 (it can cover its short-term obligations).
How much goodwill does LPL Financial have?
LPL Financial carried $6.0 billion of goodwill and intangible assets, 32.3% of total assets, at the end of fiscal 2025.