Comprehensive Stock Comparison
Compare Houlihan Lokey, Inc. (HLI) vs Evercore Inc. (EVR) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | HLI | 24.8% revenue growth vs EVR's 22.7% |
| Value | HLI | PEG 1.32 vs 2.94 |
| Quality / Margins | HLI | 16.7% net margin vs EVR's 12.6% |
| Stability / Safety | HLI | Beta 0.98 vs EVR's 1.82, lower leverage |
| Dividends | HLI | 1.5% yield, 7-year raise streak, vs EVR's 1.1% |
| Momentum (1Y) | EVR | +29.4% vs HLI's -4.2% |
| Efficiency (ROA) | EVR | 11.9% ROA vs HLI's 11.4%, ROIC 14.6% vs 15.5% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Houlihan Lokey is a global investment bank specializing in middle-market mergers and acquisitions, financial restructuring, and valuation advisory services. It generates revenue primarily from advisory fees across three segments: Corporate Finance (~60% of revenue), Financial Restructuring (~25%), and Financial and Valuation Advisory (~15%). The firm's key competitive advantage is its dominant market position in middle-market M&A and restructuring—particularly its reputation for fairness opinions and creditor advisory work—which creates deep client relationships and repeat business.
Evercore is an independent investment banking advisory firm providing strategic advice on mergers, acquisitions, and capital markets transactions. It generates revenue primarily from investment banking advisory fees — roughly 85% of total revenue — with the remainder coming from investment management services for high-net-worth clients and institutions. The firm's key advantage is its reputation as a premium independent advisor, free from conflicts inherent in large universal banks, which attracts top-tier clients seeking unbiased strategic counsel.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
HLI leads in 3 of 6 categories (Financial Metrics, Valuation Metrics). EVR leads in 1 (Total Returns). 2 tied.
Financial Metrics (TTM)
EVR and HLI operate at a comparable scale, with $3.0B and $2.4B in trailing revenue. Profitability is closely matched — net margins range from 16.7% (HLI) to 12.6% (EVR).
| Metric | HLIHoulihan Lokey, I… | EVREvercore Inc. |
|---|---|---|
| RevenueTrailing 12 months | $2.4B | $3.0B |
| EBITDAEarnings before interest/tax | $591M | $697M |
| Net IncomeAfter-tax profit | $448M | $528M |
| Free Cash FlowCash after capex | $739M | $1.1B |
| Gross MarginGross profit ÷ Revenue | +38.5% | +99.4% |
| Operating MarginEBIT ÷ Revenue | +21.0% | +17.8% |
| Net MarginNet income ÷ Revenue | +16.7% | +12.6% |
| FCF MarginFCF ÷ Revenue | +33.9% | +32.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | +22.3% | +83.9% |
Valuation Metrics
At 28.1x trailing earnings, HLI trades at a 17% valuation discount to EVR's 34.0x P/E. Adjusting for growth (PEG ratio), HLI offers better value at 1.79x vs EVR's 5.99x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | HLIHoulihan Lokey, I… | EVREvercore Inc. |
|---|---|---|
| Market CapShares × price | $2.5B | $26.9B |
| Enterprise ValueMkt cap + debt − cash | $2.0B | $26.9B |
| Trailing P/EPrice ÷ TTM EPS | 28.14x | 34.01x |
| Forward P/EPrice ÷ next-FY EPS est. | 20.78x | 16.67x |
| PEG RatioP/E ÷ EPS growth rate | 1.79x | 5.99x |
| EV / EBITDAEnterprise value multiple | 3.65x | 50.47x |
| Price / SalesMarket cap ÷ Revenue | 1.05x | 8.98x |
| Price / BookPrice ÷ Book value/share | 5.17x | 6.62x |
| Price / FCFMarket cap ÷ FCF | 3.11x | 28.09x |
Profitability & Efficiency
EVR delivers a 25.3% return on equity — every $100 of shareholder capital generates $25 in annual profit, vs $20 for HLI. HLI carries lower financial leverage with a 0.20x debt-to-equity ratio, signaling a more conservative balance sheet compared to EVR's 0.48x.
| Metric | HLIHoulihan Lokey, I… | EVREvercore Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +19.5% | +25.3% |
| ROA (TTM)Return on assets | +11.4% | +11.9% |
| ROICReturn on invested capital | +15.5% | +14.6% |
| ROCEReturn on capital employed | +20.1% | +13.9% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 7 |
| Debt / EquityFinancial leverage | 0.20x | 0.48x |
| Net DebtTotal debt minus cash | -$533M | -$16M |
| Cash & Equiv.Liquid assets | $971M | $940M |
| Total DebtShort + long-term debt | $438M | $923M |
| Interest CoverageEBIT ÷ Interest expense | — | 35.22x |
Total Returns (with DRIP)
A $10,000 investment in HLI five years ago would be worth $26,770 today (with dividends reinvested), compared to $25,940 for EVR. Over the past 12 months, EVR leads with a +29.4% total return vs HLI's -4.2%. The 3-year compound annual growth rate (CAGR) favors EVR at 34.4% vs HLI's 21.2% — a key indicator of consistent wealth creation.
| Metric | HLIHoulihan Lokey, I… | EVREvercore Inc. |
|---|---|---|
| YTD ReturnYear-to-date | -7.1% | -11.8% |
| 1-Year ReturnPast 12 months | -4.2% | +29.4% |
| 3-Year ReturnCumulative with dividends | +78.2% | +142.8% |
| 5-Year ReturnCumulative with dividends | +167.7% | +159.4% |
| 10-Year ReturnCumulative with dividends | +601.0% | +614.6% |
| CAGR (3Y)Annualised 3-year return | +21.2% | +34.4% |
Risk & Volatility
HLI is the less volatile stock with a 0.98 beta — it tends to amplify market swings less than EVR's 1.82 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | HLIHoulihan Lokey, I… | EVREvercore Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.98x | 1.82x |
| 52-Week HighHighest price in past year | $211.78 | $388.71 |
| 52-Week LowLowest price in past year | $137.99 | $148.63 |
| % of 52W HighCurrent price vs 52-week peak | +77.3% | +79.5% |
| RSI (14)Momentum oscillator 0–100 | 46.5 | 44.3 |
| Avg Volume (50D)Average daily shares traded | 440K | 355K |
Analyst Outlook
Wall Street rates HLI as "Buy" and EVR as "Buy". Consensus price targets imply 29.1% upside for EVR (target: $399) vs 25.6% for HLI (target: $206). For income investors, HLI offers the higher dividend yield at 1.47% vs EVR's 1.06%.
| Metric | HLIHoulihan Lokey, I… | EVREvercore Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $205.67 | $398.83 |
| # AnalystsCovering analysts | 15 | 21 |
| Dividend YieldAnnual dividend ÷ price | +1.5% | +1.1% |
| Dividend StreakConsecutive years of raises | 7 | 18 |
| Dividend / ShareAnnual DPS | $2.41 | $3.26 |
| Buyback YieldShare repurchases ÷ mkt cap | +2.1% | +1.7% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Houlihan Lokey, Inc. (HLI) | 100 | 313.93 | +213.9% |
| Evercore Inc. (EVR) | 100 | 521.2 | +421.2% |
Houlihan Lokey, Inc. (HLI) returned +168% over 5 years vs Evercore Inc. (EVR)'s +159%. A $10,000 investment in HLI 5 years ago would be worth $26,770 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Houlihan Lokey, Inc. (HLI) | $694M | $2.4B | +244.4% |
| Evercore Inc. (EVR) | $1.5B | $3.0B | +105.7% |
Houlihan Lokey, Inc.'s revenue grew from $694M (2016) to $2.4B (2025) — a 14.7% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Houlihan Lokey, Inc. (HLI) | 10.1% | 16.7% | +66.4% |
| Evercore Inc. (EVR) | 7.4% | 12.6% | +71.0% |
Houlihan Lokey, Inc.'s net margin went from 10% (2016) to 17% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Houlihan Lokey, Inc. (HLI) | 27.9 | 29.9 | +7.2% |
| Evercore Inc. (EVR) | 32.1 | 30.5 | -5.0% |
Houlihan Lokey, Inc. has traded in a 14x–42x P/E range over 9 years; current trailing P/E is ~28x. Evercore Inc. has traded in a 8x–32x P/E range over 8 years; current trailing P/E is ~34x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Houlihan Lokey, Inc. (HLI) | 1.1 | 5.82 | +429.1% |
| Evercore Inc. (EVR) | 2.43 | 9.08 | +273.7% |
Houlihan Lokey, Inc.'s EPS grew from $1.10 (2016) to $5.82 (2025) — a 20% CAGR.
Chart 6Free Cash Flow — 5 Years
Houlihan Lokey, Inc. generated $809M FCF in 2025 (+43% vs 2021). Evercore Inc. generated $958M FCF in 2024 (-29% vs 2021).
HLI vs EVR: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is HLI or EVR a better buy right now?
Houlihan Lokey, Inc. (HLI) offers the better valuation at 28.1x trailing P/E (20.8x forward), making it the more compelling value choice. Analysts rate Houlihan Lokey, Inc. (HLI) a "Buy" — based on 15 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — HLI or EVR?
On trailing P/E, Houlihan Lokey, Inc. (HLI) is the cheapest at 28.1x versus Evercore Inc. at 34.0x. On forward P/E, Evercore Inc. is actually cheaper at 16.7x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Houlihan Lokey, Inc. wins at 1.32x versus Evercore Inc.'s 2.94x — a reasonable growth-adjusted valuation.
03Which is the better long-term investment — HLI or EVR?
Over the past 5 years, Houlihan Lokey, Inc. (HLI) delivered a total return of +167.7%, compared to +159.4% for Evercore Inc. (EVR). A $10,000 investment in HLI five years ago would be worth approximately $27K today (assuming dividends reinvested). Over 10 years, the gap is even starker: EVR returned +614.6% versus HLI's +601.0%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — HLI or EVR?
By beta (market sensitivity over 5 years), Houlihan Lokey, Inc. (HLI) is the lower-risk stock at 0.98β versus Evercore Inc.'s 1.82β — meaning EVR is approximately 86% more volatile than HLI relative to the S&P 500. On balance sheet safety, Houlihan Lokey, Inc. (HLI) carries a lower debt/equity ratio of 20% versus 48% for Evercore Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — HLI or EVR?
Houlihan Lokey, Inc. (HLI) is the more profitable company, earning 16.7% net margin versus 12.6% for Evercore Inc. — meaning it keeps 16.7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: HLI leads at 21.0% versus 17.8% for EVR. At the gross margin level — before operating expenses — EVR leads at 99.4%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is HLI or EVR more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Houlihan Lokey, Inc. (HLI) is the more undervalued stock at a PEG of 1.32x versus Evercore Inc.'s 2.94x. A PEG below 1.5 suggests fair-to-attractive pricing relative to expected growth. On forward earnings alone, Evercore Inc. (EVR) trades at 16.7x forward P/E versus 20.8x for Houlihan Lokey, Inc. — 4.1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for EVR: 29.1% to $398.83.
07Which pays a better dividend — HLI or EVR?
All stocks in this comparison pay dividends. Houlihan Lokey, Inc. (HLI) offers the highest yield at 1.5%, versus 1.1% for Evercore Inc. (EVR).
08Is HLI or EVR better for a retirement portfolio?
For long-horizon retirement investors, Houlihan Lokey, Inc. (HLI) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.98), 1.5% yield, +601.0% 10Y return). Evercore Inc. (EVR) carries a higher beta of 1.82 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (HLI: +601.0%, EVR: +614.6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between HLI and EVR?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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