LPL Financial Holdings Inc (LPLA) Fair Value & Analysis
Financial Services · US · Market cap $26.0B · ISIN US50212V1008
What is LPL Financial Holdings Inc really worth?
LPL Financial Holdings Inc
LPLA · US
Below-average quality, and trading another 157% above our fair value of $140.27.
Risks
For context
Fair value as of: Aug 30, 2026
From 9 valuation models · updated 6 days ago
Share price +1.8% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case ($175.34). The favourable scenario is already priced in.
- Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.
How to read this chart
60‑month range $124.59 – $397.54 · fair‑value band $105.20 – $175.34 · the $360.45 price screens above the $140.27 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.
Analysis
LPL Financial Holdings Inc (LPLA) currently trades at $360.45, while our model-based Fair Value estimate is $140.27, implying the stock looks roughly 156.9% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Financial Services sector. Bull case: the DCF Models group reads highest at a median of $223.24 per share, and 1 of the 9 models we run sit above the $360.45 price. Bear case: the Dividend Discount group reads lowest at $19.00, and 8 of the 9 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, LPL Financial Holdings Inc generated revenue of $17.8B at a net margin of 5.1%. Revenue grew 35.0% year over year. It earns a return on equity of 20.5%. Net debt stands at $6.2B. Fundamentals as of Aug 30, 2026
Our scenario range runs from $105.20 (bear case) to $175.34 (bull case); at $360.45, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 10% below its 52-week high and 39% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −37% fair-value upside, at −61%, LPLA screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $6.71 per share, which is 4.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 9 models by family
Widest divergence: DCF Models ($223.24) versus Dividend Discount ($19.00). Highest evidence: Owner Earnings (70).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 35 · Market factors (momentum, volatility) 61
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
LPL Financial Holdings Inc., together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at institutions in the United States.
Full company description
LPL Financial Holdings Inc., together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at institutions in the United States. The company's brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance; and client cash programs consist of Federal Deposit Insurance Corporation (FDIC) insured bank sweep vehicles, and a client cash and money market account. It also provides fee-based platforms that provide access to mutual funds, exchange traded funds, stocks, bonds, certain options strategies, unit investment trusts, institutional money managers, and no-load multi-manager variable annuities. In addition, the company offers retirement solutions for commission and fee-based services that allow advisors to provide brokerage services, consultation, and advice to retirement plan sponsors. Further, it provides other services comprising tools and services that enable advisors to maintain and grow their practices; trust, investment management oversight, and custodial services for estates and families; an advisor-facing trading and portfolio rebalancing platform; insurance brokerage general agency services; and technology products, including proposal generation, investment analytics, and portfolio modeling. The company was formerly known as LPL Investment Holdings Inc. and changed its name to LPL Financial Holdings Inc. in June 2012. LPL Financial Holdings Inc. was founded in 1989 and is based in San Diego, California.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
LPL Financial Holdings Inc reported revenue of $17.0B in FY2025 versus $7.7B in FY2021, a compound +21.8%/yr. Reported net income was $863M in FY2025, compounding +17.0%/yr from FY2021.
of which total revenue +13.4 % · buybacks/dilution +2.4 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
LPLA screens 157% overvalued. Compare with Morgan Stanley, a financial holding company, →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Merit Financial Advisors names John Rajes chief technology officer
- How Investors May Respond To LPL Financial (LPLA) Losing Sierra Ridge While Revamping Its Tech Leadership
- AI Narrative Overshadows LPL Financial Holdings’ (LPLA) Strong Fundamentals
Peer Group
Capital Markets · 453 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Capital Markets median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 42/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Morgan Stanley, a financial holding company, MS | $214.77 | $138.97 | −35% |
| The Goldman Sachs Group GS | $1,034 | $756.89 | −27% |
| The Charles Schwab Corporation SCHW | $110.16 | $66.17 | −40% |
| Robinhood Markets, Inc HOOD | $104.26 | $30.94 | −70% |
| Macquarie Group MQG | A$251.87 | A$75.58 | −70% |
| CITIC Securities Company 600030 | ¥27.93 | ¥17.68 | −37% |
| Guotai Haitong Securities Co 601211 | ¥17.87 | ¥18.62 | +4% |
| East Money Information Co 300059 | ¥19.42 | ¥4.77 | −75% |
| CSC Financial Co 601066 | ¥25.78 | ¥14.17 | −45% |
| Huatai Securities Co 601688 | ¥19.56 | ¥19.26 | −2% |
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