Seeking Alpha·Oct 27, 2026
LPL Financial Holdings Inc. (LPLA) Q3 2026 Earnings Call TranscriptLPL Financial Holdings Inc. (LPLA) Q3 2026 Earnings Call Transcript
LPL Financial's earnings base is dominated by advisory and brokerage fees, with non-interest income at 102.0% of total revenue in 2026Q3, which suggests the business model remains resilient even as the deposit-linked engine weakens.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue reached $5.3B in 2026Q3 and operating income was $591.0M, but the efficiency ratio deteriorated to 20.4% and provision-related costs consumed roughly 68% of revenue, suggesting margin pressure is building despite top-line growth.
LPL Financial has demonstrated substantial organic growth driven by successful retention and recruitment strategies for financial advisors. The company has an 8.7% annual growth rate in advisor headcount over a decade, significantly outpacing the industry average, with a high asset retention rate exceeding 97%.
The firm has seen a notable increase in cash sweep balances, reaching $50.6 billion, which is expected to enhance profitability through increased interest income. LPL Financial's assets under management (AUM) are substantial, standing at $2.4 trillion at the end of 2025, with an 8.4% year-over-year revenue growth reported in a recent quarter.
LPL Financial has a history of exceeding earnings per share (EPS) expectations, recently reporting EPS of $5.23, beating consensus estimates. The company shows strong operational efficiency, with a high return on equity (ROE) of 59.3% and return on invested capital (ROIC) of 32.4%.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 27, 2026 | $5.97+5.5% vs $5.66 | $5.3B-0.2% vs $5.4B |
Q3 2026 Jul 30, 2026 | $5.84+8.3% vs $5.39 | $5.2B+3.0% vs $5.0B |
Q2 2026 Apr 30, 2026 | $5.60+2.2% vs $5.48 | $4.9B-0.9% vs $5.0B |
Q1 2026 Jan 29, 2026 | $5.23+6.3% vs $4.92 | $4.9B+0.5% vs $4.9B |
LPL Financial Holdings Inc. (LPLA) Q3 2026 Earnings Call Transcript
The headline numbers for LPL Financial (LPLA) give insight into how the company performed in the quarter ended September 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
LPL Financial NASDAQ: LPLA reported record third-quarter adjusted earnings per share of $5.97, up 15% from a year earlier, as the wealth-management firm cited improved organic growth, expense discipline and continued preparation for the mid-November conversion of Commonwealth Financial Network advisors.
LPL Financial Holdings Inc. (LPLA) came out with quarterly earnings of $5.97 per share, beating the Zacks Consensus Estimate of $5.69 per share. This compares to earnings of $5.2 per share a year ago.
Benchmark LPLA against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for LPL Financial Holdings Inc. (LPLA)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $295.51 | $23.64B | 16.75 | 36.95% | 6.97% | 24.65% | 0.4% | |
| $162.81 | $31.28B | 13.45 | 12.27% | 14.63% | 23.43% | — | |
| $71.35 | $10.82B | 11.70 | 11.67% | 16.51% | 16.26% | 2.62% | |
| $11.63 | $2.17M | 0.07 | 9.41% | — | — | — | |
| $23.26 | $1.45B | 15.94 | 64.73% | 55.86% | 10.22% | 9.62% | |
| $91.49 | $159.11B | 14.90 | 22.01% | 38.16% | 21.29% | 1.43% |
LPL Financial Holdings Inc. (LPLA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
LPL Financial Holdings Inc. (LPLA) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 27, 2026·SEC
Jul 30, 2026·SEC
May 15, 2026·SEC
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LPL Financial Holdings Inc. (LPLA) stock FAQ — growth, dividends, profitability & financials explained
LPL Financial Holdings Inc. (LPLA) grew revenue by 31.6% over the trailing twelve months, compared with the twelve months before.
Yes. LPL Financial Holdings Inc. (LPLA) earned $1.39B in net income over the trailing twelve months (a 7.0% net margin).
Yes. LPL Financial Holdings Inc. (LPLA) pays a dividend that yields 0.40% at the current price, a small yield.
LPL Financial Holdings Inc. (LPLA) had a return on equity (ROE) of 24.7% over the trailing twelve months. That is well above the market's typical 10-15%.
LPL Financial Holdings Inc. (LPLA) has a net interest margin (NIM) of -0.9%. NIM has been under pressure due to interest rate environment.
LPL Financial Holdings Inc. (LPLA) has an efficiency ratio of 12.4%. This is excellent, indicating strong cost control.
