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LPL Financial Holdings Inc. (L2PL34) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of LPL Financial Holdings Inc. BRL 188, price BRL 88.62, upside +111.7%, quality 37 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Financial Services · BR · Home US

LF Some data Sep 24, 2026

LPL Financial Holdings Inc.

L2PL34 · SA

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value R$187.56 · Strongly undervalued (+111.7%)
!Quality 37/100
!Expensive Growth (revenue 3y +25.5 %/yr)
!Thin margins · 5.1% net margin (TTM)
!Moderate debt · negative free cash flow
!1.4% dividend yield · Watch coverage
!Mixed vs. peers (6/12)
!Moderate moat 52/100
!Insider activity 40/100
!Evidence only medium, so the estimate is less certain
!The models disagree: range R$166.12 to R$508.02
!Weak on dividend: 27 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

R$122.98 R$39.16 Fair Value R$187.56 Feb 2022 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

55‑month range R$39.16 – R$122.98 · fair‑value band R$166.12 – R$508.02 · the R$88.62 price screens below the R$187.56 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

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.

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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.

Stock analysis

LPL Financial Holdings Inc. (L2PL34) currently trades at R$88.62, while our model-based Fair Value estimate is R$187.56, implying the stock looks roughly 52.8% undervalued today.

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Valuation

Bull case: the Earnings-Based group reads highest at a median of R$1,525 per share, and 7 of the 9 models we run sit above the R$88.62 price.

Bear case: the Dividend Discount group reads lowest at R$78.83, and 2 of the 9 models stay below the price. Evidence for this calculation is medium.

Scenario range: R$166.12 (bear) to R$508.02 (bull), the price of R$88.62 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 37/100 (below-average quality), in the Financial Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

LPL Financial Holdings Inc. reported revenue of $17.0B in FY2025 versus $8.6B in FY2022, a compound +25.5%/yr. Reported net income was $863M in FY2025, compounding +0.7%/yr from FY2022.

Key figures

Market cap R$7.1B (≈ $1.4B) · P/E ratio 1.5 · P/S ratio 0.08 · EPS (TTM) R$57.57 · Dividend yield 1.4% · Net margin 5.1% · Return on equity 20.5% · Return on assets (EBIT) 12.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).

What moves the price

The share trades about 24% below its 52-week high and 19% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −15% fair-value upside, at 112%, L2PL34 screens cheaper than that median.

Fair Value models

Bear R$166.12 Fair Value R$187.56 Bull R$508.02
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (R$42.63 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income R$337.38 R$440.09 R$694.59 71
Owner Earnings R$429.78 R$1,326 R$2,990 66
Gordon GGM R$47.89 R$86.30 R$118.80 65
All 9 models by family
DCF Models
Owner Earnings R$429.78 R$1,326 R$2,990 66
Earnings-Based
Graham-Dodd R$383.17 R$2,672 R$3,750 60
Lynch FV R$1,068 R$1,525 R$1,983 58
Dividend Discount
Gordon GGM R$47.89 R$86.30 R$118.80 65
DDM Multi-Stage R$47.89 R$78.83 R$92.19 64
Multiples
P/E Multiple R$1,183 R$1,578 R$1,972 63
P/B Multiple R$718.45 R$957.94 R$1,197 55
Asset-Based
NCAV (Graham) R$174.48 R$233.80 R$348.96 54
Economic Profit
Residual Income R$337.38 R$440.09 R$694.59 71

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Quality Score breakdown

Overall quality 37/100

Of which business quality 36 · Market factors (momentum, volatility) 51

Profitability 60
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 31
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 49
Price trend over the last 3–12 months (market factor)
52W Momentum 28
Distance to the 52-week high (market factor)
Net Issuance 44
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+37.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+25.5%
What shareholders gained per year (last 3 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−3.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.8%
Dividend (yield on the price)1.4%
Profit margin 2022 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.14% → 9%

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Peer Groupⓘ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.Capital Markets · 456 stocks

Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 36 · Bottom 25%
Fair Value upside −59.6% · Bottom 25%
Profitability
Return on equity (TTM) 20.5% · Top 25%
Return on assets 5.5% · Top 25%
Net margin (TTM) 5.1% · Below median
Operating margin (TTM) 11.1% · Below median
Growth and dividend
Revenue growth 35.0% · Above median
Dividend yield (TTM) 1.4% · Below median
Balance sheet
Debt / equity 1.36× · Highest 25%

Valuation Multiplesvs Capital Markets median · lower = cheaper

P/E (TTM) 1.5× · Cheapest 25%
P/B 0.25× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (TTM) 0.08× · Cheapest 25%
PEG 0.03× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 36
FUTURE (revenue growth)100 · sector 94
PAST (return on equity)82 · sector 32
HEALTH (low debt)32 · sector 95
DIVIDEND (yield)27 · sector 44

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Capital Markets stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Morgan Stanley, a financial holding company, MS $188.08 $314.07 +67%
The Goldman Sachs Group GS $900.36 $766.86 −15%
The Charles Schwab Corporation SCHW $97.74 $118.07 +21%
Interactive Brokers Group IBKR $89.24 $23.12 −74%
Robinhood Markets, Inc HOOD $116.22 $47.77 −59%
Macquarie Group MQG A$245.63 A$80.51 −67%
CITIC Securities Company 600030 ¥26.29 ¥18.35 −30%
Guotai Haitong Securities Co 601211 ¥17.21 ¥19.35 +12%
East Money Information Co 300059 ¥18.28 ¥4.94 −73%
Nomura Holdings NMR $9.91 $10.19 +3%

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LPL Financial Holdings Inc. · Fair Value
R$187.56 +53%Fair Value
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Cite: Fair Value Calculator (2026). "LPL Financial Holdings Inc. Fair Value". https://www.fairvalue-calculator.com/stock/L2PL34

Frequently asked questions

Is LPL Financial Holdings Inc. (L2PL34) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of R$187.56 versus a price of R$88.62, about +112% upside (undervalued).
What is the fair value of L2PL34?
Our model-based fair value for LPL Financial Holdings Inc. is R$187.56 (as of Sep 24, 2026), built from audited fundamentals. The current price: R$88.62.
What is the quality score of L2PL34?
LPL Financial Holdings Inc. has a Quality Score of 37/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for LPL Financial Holdings Inc. (L2PL34)?
Our model-based price target is the fair value of R$187.56 (as of Sep 24, 2026) from 9 valuation models. Cautious scenario R$166.12, optimistic scenario R$508.02. It is a calculation from audited fundamentals, not an analyst target.
What is the LPL Financial Holdings Inc. stock forecast for 2026?
Our models put fair value at R$187.56, about +112% upside versus a price of R$88.62 (undervalued). Cautious scenario R$166.12, optimistic scenario R$508.02. The calculation is refreshed regularly with new filings.
What is the revenue of LPL Financial Holdings Inc. (L2PL34)?
LPL Financial Holdings Inc. reported trailing-twelve-month revenue of about $17.8B (latest available figure, as of Sep 24, 2026).
Does LPL Financial Holdings Inc. pay a dividend?
LPL Financial Holdings Inc. currently shows a dividend yield of about 1.35% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of LPL Financial Holdings Inc. (L2PL34)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For LPL Financial Holdings Inc. it is R$187.56 per share (as of Sep 24, 2026), against a price of R$88.62. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is LPL Financial Holdings Inc. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, L2PL34 trades below its calculated fair value: price R$88.62, fair value R$187.56, a gap of about +112% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of L2PL34?
No. The price is what the market pays today (R$88.62); the fair value is what the company's own numbers justify (R$187.56). For LPL Financial Holdings Inc. the two are R$98.94 per share apart. That gap is exactly why we show both numbers side by side.
How much is LPL Financial Holdings Inc. worth?
The market values LPL Financial Holdings Inc. at about R$7.1B (market capitalisation, as of Sep 24, 2026). Per share that is R$88.62; our models calculate a fair value of R$187.56 per share.
What do the bullish and bearish scenarios say about L2PL34?
Our models span a range for LPL Financial Holdings Inc.: cautious scenario R$166.12, base R$187.56, optimistic R$508.02 per share (as of Sep 24, 2026, price R$88.62). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of L2PL34?
LPL Financial Holdings Inc. trades at a price-to-earnings ratio of 1.5 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R$187.56 is built from several models across several years. Other multiples: PEG 0.0, P/B 0.3, P/S 0.1.
What is the PEG ratio of L2PL34?
The PEG ratio of LPL Financial Holdings Inc. is 0.03 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of LPL Financial Holdings Inc. (L2PL34)?
Balance-sheet figures for LPL Financial Holdings Inc. (as of Sep 24, 2026): return on equity 20.5%, debt of 1.36 per unit of equity. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is L2PL34 from its 52-week high?
LPL Financial Holdings Inc. trades at R$88.62, about 24% below its 52-week high of R$116.27 and 19% above the low of R$74.37 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of R$187.56 is for.
Which stocks are comparable to LPL Financial Holdings Inc.?
From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is LPL Financial Holdings Inc. stock attractive at the current price?
The data as of Sep 24, 2026: price R$88.62, calculated fair value R$187.56 (+112%), Quality Score 37/100, from 9 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of L2PL34 calculated?
We run LPL Financial Holdings Inc. through 9 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of R$187.56, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. LPL Financial Holdings Inc. currently trades 53 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of LPL Financial Holdings Inc. (L2PL34)?
The closing price on Oct 1, 2026 was R$88.62. Our model-based fair value is R$187.56, about +112% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with LPL Financial Holdings Inc. right now?
The large discount to fair value meets weak quality (37/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (R$166.12). The market is more pessimistic than our downside scenario. The model range is unusually wide (R$166.12 to R$508.02). The outcome hinges heavily on assumptions, so read the point estimate with caution. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of LPL Financial Holdings Inc.

How large is the market capitalisation of LPL Financial Holdings Inc. (L2PL34)?
The market capitalisation of LPL Financial Holdings Inc. is R$7.1B (≈ $1.4B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of LPL Financial Holdings Inc. (L2PL34)?
The price-to-sales ratio of LPL Financial Holdings Inc. is 0.08 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of LPL Financial Holdings Inc. (L2PL34)?
Earnings per share at LPL Financial Holdings Inc. are R$57.57 (price ÷ EPS = P/E 1.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of LPL Financial Holdings Inc. (L2PL34)?
The dividend yield of LPL Financial Holdings Inc. is 1.4% (payout 2.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of LPL Financial Holdings Inc. (L2PL34)?
The net margin of LPL Financial Holdings Inc. is 5.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of LPL Financial Holdings Inc. (L2PL34)?
The return on equity (ROE) of LPL Financial Holdings Inc. is 20.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of LPL Financial Holdings Inc. (L2PL34)?
On an EBIT basis the return on assets of LPL Financial Holdings Inc. is 12.4% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of LPL Financial Holdings Inc. (L2PL34)?
The operating margin of LPL Financial Holdings Inc. is 11.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at LPL Financial Holdings Inc. (L2PL34)?
Revenue at LPL Financial Holdings Inc. is growing +35.0% versus a year earlier (3y avg +25.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at LPL Financial Holdings Inc. (L2PL34)?
Earnings per share at LPL Financial Holdings Inc. are growing +4.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does LPL Financial Holdings Inc. (L2PL34) generate?
The free cash flow of LPL Financial Holdings Inc. is −$982M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does LPL Financial Holdings Inc. (L2PL34) carry?
The net debt of LPL Financial Holdings Inc. is $6.2B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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