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Selling, general, & admin. expense (SGA) includes the direct and indirect costs and all general and administrative expenses of a company. LPL Financial Holdings's selling, general, & admin. expense for the
three
months ended in Mar. 2026 was $401 Mil.
Its selling, general, & admin. expense for the trailing twelve months (TTM) ended in Mar. 2026 was $1,741 Mil.
LPL Financial Holdings (NAS:LPLA) Selling, General, & Admin. Expense Explanation
An efficient operation keeps SGA costs low and thus has higher profit margin. The percentage of SGA relative to total revenue is an indication of how efficiently the company operates. Compare this percentage among the companies in the same industry is a good way of finding more efficient operations. A comparison of the SGA cost relative to the revenue with the historical value can also be an indication of how efficient the company has become.
Warren Buffett likes companies with consistent SGA as the percentage of gross profit.
Companies with no durable competitive advantage show wild variation in SG&A as % of Gross Profit.
If SGA is less than 30% of Gross Profit, it is fantastic. If SGA is nearing 100%, it is is in highly competitive industry.
LPL Financial Holdings Selling, General, & Admin. Expense Related Terms
LPL Financial Holdings Selling, General, & Admin. Expense Historical Data
* Premium members only.
The historical data trend for LPL Financial Holdings's Selling, General, & Admin. Expense can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
LPL Financial Holdings Selling, General, & Admin. Expense Chart
LPLA vs TW, CRCL, IREN: Selling, General, & Admin. Expense Comparison
For the Capital Markets subindustry, LPL Financial Holdings's Selling, General, & Admin. Expense, along with its competitors' market caps and Selling, General, & Admin. Expense data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
LPL Financial Holdings Selling, General, & Admin. Expense vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, LPL Financial Holdings's Selling, General, & Admin. Expense distribution charts can be found below:
* The bar in red indicates where LPL Financial Holdings's Selling, General, & Admin. Expense falls into.
LPL Financial Holdings Selling, General, & Admin. Expense Calculation
Selling, General, & Admin. Expense (SGA) includes the direct and indirect costs and all general and administrative expenses of a company. For instance, personnel cost, advertising, rent, communication costs are all part of SGA.
Selling, General, & Admin. Expense for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,741 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Selling, General, & Admin. Expense of $1,741 Mil mean?
LPL Financial Holdings (LPLA) has a Selling, General, & Admin. Expense of $1,741 Mil as of Mar. 2026. Selling, general and admin expense is the total cost for direct, indirect, general and administrative activities. View historical data on LPL Financial Holdings and its competitors.
Is LPL Financial Holdings' Selling, General, & Admin. Expense too high?
LPL Financial Holdings' current Selling, General, & Admin. Expense is $1,741 Mil. Overall, LPL Financial Holdings has a GF Score™ of 85/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does LPL Financial Holdings' Selling, General, & Admin. Expense compare to TW and CRCL?
LPL Financial Holdings' Selling, General, & Admin. Expense of $1,741 Mil can be compared against companies in the Capital Markets industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Selling, General, & Admin. Expense for a Capital Markets company?
A good Selling, General, & Admin. Expense depends on the Capital Markets industry context. However, Selling, General, & Admin. Expense should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Selling, General, & Admin. Expense mean?
A high Selling, General, & Admin. Expense can signal that a stock is expensive relative to its fundamentals. Selling, general and admin expense is the total cost for direct, indirect, general and administrative activities. View historical data on LPL Financial Holdings and its competitors. LPL Financial Holdings's current Selling, General, & Admin. Expense is $1,741 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is LPL Financial Holdings stock overvalued right now?
Based on GuruFocus' analysis, LPL Financial Holdings (LPLA) is currently considered Modestly Undervalued. The stock's GF Value™ is $466.19, compared to a current price of $329.82 — trading 29.3% below its estimated fair value. The current Selling, General, & Admin. Expense is $1,741 Mil. LPL Financial Holdings' overall GF Score™ is 85/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Selling, General, & Admin. Expense calculated?
Selling, General, & Admin. Expense is calculated from a company's financial statements. For LPL Financial Holdings (LPLA), the current Selling, General, & Admin. Expense is $1,741 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is LPL Financial Holdings (LPLA) Overvalued in 2026?
Based on GuruFocus' analysis, LPL Financial Holdings stock appears to be undervalued.
The current stock price of $329.82 is trading 29.3% below its estimated GF Value™ of $466.19.
GuruFocus considers LPL Financial Holdings to be Modestly Undervalued.
Key valuation signals for LPLA:
Selling, General, & Admin. Expense: $1,741 Mil
GF Value™: $466.19 vs. price of $329.82 (29.3% below fair value)
No single metric tells the full story. See the LPLA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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 providing 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.
85GF Score
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