LPL Financial Holdings Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	863.02	1,059	1,066	845.7	459.87
Depreciation & Amortization	651.61	455.08	362.94	294.23	236.42
Stock-Based Compensation	79.36	91.76	68.67	52.61	44.18
Other Adjustments	592.69	318.03	210.18	114.63	193.45
Changes in Trading Assets	11.64	34.18	-38.96	-0.07	-8.73
Change in Receivables	-2,190	-1,289	-687.63	-385.98	-845.7
Changes in Accounts Payable	430.38	-401.66	-413.17	960.34	258.08
Changes in Accrued Expenses	184.48	111.68	42.68	31.58	42.16
Changes in Other Operating Activities	-1,034	-100.79	-98.35	32.54	73.41
Operating Cash Flow	-411.4	277.59	512.61	1,946	453.13
Operating Cash Flow Growth	-	-45.85%	-73.65%	329.36%	-42.64%
Capital Expenditures	-577.2	-572.14	-403.29	-306.6	-215.99
Purchases of Investments	-34.17	-4.77	-8.93	-18.35	-1.74
Proceeds from Sale of Investments	12.37	5	5.5	5	5
Payments for Business Acquisitions	-1,788	-1,020	-453.48	-56.46	-245.91
Investing Cash Flow	-2,387	-1,592	-860.19	-376.4	-458.64
Short-Term Debt Issued	876	1,430	1,718	815	1,585
Short-Term Debt Repaid	-1,844	-663	-1,438	-905	-1,495
Net Short-Term Debt Issued (Repaid)	-968	767	280	-90	90
Long-Term Debt Issued	2,745	2,018	749.47	-	1,300
Long-Term Debt Repaid	-	-1,027	-10.7	-10.7	-910.7
Net Long-Term Debt Issued (Repaid)	2,745	991.13	738.77	-10.7	389.3
Issuance of Common Stock	1,747	28.73	18.67	28.73	41.97
Repurchase of Common Stock	-133.49	-211.38	-1,140	-350.19	-110.24
Net Common Stock Issued (Repurchased)	1,614	-182.66	-1,121	-321.46	-68.27
Common Dividends Paid	-94.41	-89.73	-92.19	-79.83	-80.1
Other Financing Activities	-127.52	-68.31	-13.67	-2.28	-52.1
Financing Cash Flow	3,169	1,417	-208.53	-504.27	278.84
Net Cash Flow	370.69	102.89	-556.11	1,065	273.33
Free Cash Flow	-988.61	-294.55	109.33	1,639	237.15
Free Cash Flow Growth	-	-	-93.33%	591.12%	-62.62%
FCF Margin	-5.82%	-2.38%	1.09%	19.06%	3.07%
Free Cash Flow Per Share	-12.50	-3.91	1.40	20.16	2.90
Levered Free Cash Flow	2,307	2,343	1,537	1,757	1,325
Unlevered Free Cash Flow	832.69	793.35	655.97	1,954	943.73

Updated Dec 31, 2025. Data Source: Fiscal.ai. Capital Markets template. Financial Sources.