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LPL Financial Valuation Multiples
Discover revenue and EBITDA valuation multiples for LPL Financial and similar public comparables like HiThink, Tradeweb Markets, Futu Holdings, Mirae Asset Securities and more.
LPL Financial Overview
About LPL Financial
LPL Financial is the largest US independent broker-dealer, with more than 32,000 financial advisors affiliated with its platform and roughly 11 million customer accounts at the end of 2025. The firm earns the bulk of its profit from interest income earned on client cash balances and from advisory fees and commissions tied to the $2.4 trillion in assets under management or advisory on its platform at year-end 2025. LPL specializes in the provision of turnkey wealth management services for affiliated independent advisors, but maintains a diverse array of affiliation modalities, running the gamut from more traditional employee models to a pure RIA custody approach. It earns tuck-in revenue from recordkeeping fees and the provision of software tools and services to its advisor base.
Founded
2005
HQ
Employees
10.0K
Website
Financials (LTM)
EV
$33B
LPL Financial Financials
LPL Financial reported last 12-month revenue of $18B and EBITDA of $2B.
In the same LTM period, LPL Financial generated $2B in EBITDA and $1B in net income.
Revenue (LTM)
LPL Financial P&L
In the most recent fiscal year, LPL Financial reported revenue of $17B and EBITDA of $2B.
LPL Financial expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $18B | XXX | $17B | XXX | XXX | XXX |
| Gross Profit | — | XXX | $4B | XXX | XXX | XXX |
| Gross Margin | — | XXX | 24% | XXX | XXX | XXX |
| EBITDA | $2B | XXX | $2B | XXX | XXX | XXX |
| EBITDA Margin | 14% | XXX | 13% | XXX | XXX | XXX |
| EBIT Margin | 9% | XXX | 9% | XXX | XXX | XXX |
| Net Profit | $1B | XXX | $863M | XXX | XXX | XXX |
| Net Margin | 6% | XXX | 5% | XXX | XXX | XXX |
| Net Debt | — | — | $6B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
LPL Financial Stock Performance
LPL Financial has current market cap of $27B, and enterprise value of $33B.
Market Cap Evolution
LPL Financial's stock price is $331.46.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $33B | $27B | 2.8% | XXX | XXX | XXX | $10.76 |
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Start Free TrialLPL Financial Valuation Multiples
LPL Financial trades at 1.9x EV/Revenue multiple, and 13.3x EV/EBITDA.
EV / Revenue (LTM)
LPL Financial Financial Valuation Multiples
As of April 16, 2026, LPL Financial has market cap of $27B and EV of $33B.
Equity research analysts estimate LPL Financial's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
LPL Financial has a P/E ratio of 26.1x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $27B | XXX | $27B | XXX | XXX | XXX |
| EV (current) | $33B | XXX | $33B | XXX | XXX | XXX |
| EV/Revenue | 1.9x | XXX | 1.9x | XXX | XXX | XXX |
| EV/EBITDA | 13.3x | XXX | 15.1x | XXX | XXX | XXX |
| EV/EBIT | 20.7x | XXX | 21.2x | XXX | XXX | XXX |
| EV/Gross Profit | — | XXX | 8.2x | XXX | XXX | XXX |
| P/E | 26.1x | XXX | 30.8x | XXX | XXX | XXX |
| EV/FCF | — | XXX | (33.5x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified LPL Financial Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
LPL Financial Margins & Growth Rates
LPL Financial's revenue in the last 12 month grew by 12%.
LPL Financial's revenue per employee in the last FY averaged $1.7M, while opex per employee averaged $0.3M for the same period.
LPL Financial's rule of 40 is 29% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
LPL Financial's rule of X is 46% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
LPL Financial Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 12% | XXX | 12% | XXX | XXX | XXX |
| EBITDA Margin | 14% | XXX | 13% | XXX | XXX | XXX |
| EBITDA Growth | 37% | XXX | 47% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 29% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 46% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $1.7M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| S&M Expenses to Revenue | — | XXX | 4% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 19% | XXX | 20% | XXX | XXX | XXX |
| Opex to Revenue | 19% | XXX | 18% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
LPL Financial Public Comps
See public comps and valuation multiples for other Investment Brokerage and Embedded Finance comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| LPL Financial | XXX | XXX | XXX | XXX | XXX | XXX |
| HiThink | XXX | XXX | XXX | XXX | XXX | XXX |
| Tradeweb Markets | XXX | XXX | XXX | XXX | XXX | XXX |
| Futu Holdings | XXX | XXX | XXX | XXX | XXX | XXX |
| Mirae Asset Securities | XXX | XXX | XXX | XXX | XXX | XXX |
| China Securities | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
LPL Financial M&A Activity
LPL Financial acquired XXX companies to date.
Last acquisition by LPL Financial was on XXXXXXXX, XXXXX. LPL Financial acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by LPL Financial
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Get Verified M&A Valuation Multiples
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Start Free TrialLPL Financial Investment Activity
LPL Financial invested in XXX companies to date.
LPL Financial made its latest investment on XXXXXXXX, XXXXX. LPL Financial invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by LPL Financial
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout LPL Financial
| When was LPL Financial founded? | LPL Financial was founded in 2005. |
| Where is LPL Financial headquartered? | LPL Financial is headquartered in United States. |
| How many employees does LPL Financial have? | As of today, LPL Financial has over 10K employees. |
| Who is the CEO of LPL Financial? | LPL Financial's CEO is Richard Steinmeier. |
| Is LPL Financial publicly listed? | Yes, LPL Financial is a public company listed on Nasdaq. |
| What is the stock symbol of LPL Financial? | LPL Financial trades under LPLA ticker. |
| When did LPL Financial go public? | LPL Financial went public in 2010. |
| Who are competitors of LPL Financial? | LPL Financial main competitors are HiThink, Tradeweb Markets, Futu Holdings, Mirae Asset Securities. |
| What is the current market cap of LPL Financial? | LPL Financial's current market cap is $27B. |
| What is the current revenue of LPL Financial? | LPL Financial's last 12 months revenue is $18B. |
| What is the current revenue growth of LPL Financial? | LPL Financial revenue growth (NTM/LTM) is 12%. |
| What is the current EV/Revenue multiple of LPL Financial? | Current revenue multiple of LPL Financial is 1.9x. |
| Is LPL Financial profitable? | Yes, LPL Financial is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of LPL Financial? | LPL Financial's last 12 months EBITDA is $2B. |
| What is LPL Financial's EBITDA margin? | LPL Financial's last 12 months EBITDA margin is 14%. |
| What is the current EV/EBITDA multiple of LPL Financial? | Current EBITDA multiple of LPL Financial is 13.3x. |
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