Comprehensive Stock Comparison
Compare Houlihan Lokey, Inc. (HLI) vs JPMorgan Chase & Co. (JPM) 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 JPM's 14.6% |
| Value | JPM | Lower P/E (13.9x vs 20.8x), PEG 1.07 vs 1.32 |
| Quality / Margins | JPM | 21.6% net margin vs HLI's 16.7% |
| Stability / Safety | HLI | Beta 0.98 vs JPM's 1.00, lower leverage |
| Dividends | JPM | 1.7% yield, 14-year raise streak, vs HLI's 1.5% |
| Momentum (1Y) | JPM | +15.7% vs HLI's -4.2% |
| Efficiency (ROA) | HLI | 11.4% ROA vs JPM's 1.3%, ROIC 15.5% vs 5.4% |
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.
JPMorgan Chase is a global financial services giant that operates as a universal bank offering consumer banking, investment banking, commercial banking, and asset management services. It generates revenue primarily through net interest income from lending activities (about 50% of total revenue) and non-interest income from investment banking fees, trading, asset management, and card services. The company's key competitive advantage lies in its massive scale, diversified revenue streams, and fortress balance sheet—which together create significant barriers to entry and provide stability through economic cycles.
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
JPM leads in 3 of 6 categories (Financial Metrics, Valuation Metrics). HLI leads in 1 (Profitability & Efficiency). 2 tied.
Financial Metrics (TTM)
JPM is the larger business by revenue, generating $270.8B annually — 113.3x HLI's $2.4B. Profitability is closely matched — net margins range from 21.6% (JPM) to 16.7% (HLI).
| Metric | HLIHoulihan Lokey, I… | JPMJPMorgan Chase & … |
|---|---|---|
| RevenueTrailing 12 months | $2.4B | $270.8B |
| EBITDAEarnings before interest/tax | $591M | $81.3B |
| Net IncomeAfter-tax profit | $448M | $58.0B |
| Free Cash FlowCash after capex | $739M | -$119.7B |
| Gross MarginGross profit ÷ Revenue | +38.5% | +58.6% |
| Operating MarginEBIT ÷ Revenue | +21.0% | +27.7% |
| Net MarginNet income ÷ Revenue | +16.7% | +21.6% |
| FCF MarginFCF ÷ Revenue | +33.9% | -15.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | +22.3% | +16.0% |
Valuation Metrics
At 15.2x trailing earnings, JPM trades at a 46% valuation discount to HLI's 28.1x P/E. Adjusting for growth (PEG ratio), JPM offers better value at 1.17x vs HLI's 1.79x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | HLIHoulihan Lokey, I… | JPMJPMorgan Chase & … |
|---|---|---|
| Market CapShares × price | $2.5B | $809.7B |
| Enterprise ValueMkt cap + debt − cash | $2.0B | $1.09T |
| Trailing P/EPrice ÷ TTM EPS | 28.14x | 15.21x |
| Forward P/EPrice ÷ next-FY EPS est. | 20.78x | 13.93x |
| PEG RatioP/E ÷ EPS growth rate | 1.79x | 1.17x |
| EV / EBITDAEnterprise value multiple | 3.65x | 13.15x |
| Price / SalesMarket cap ÷ Revenue | 1.05x | 2.99x |
| Price / BookPrice ÷ Book value/share | 5.17x | 2.51x |
| Price / FCFMarket cap ÷ FCF | 3.11x | — |
Profitability & Efficiency
HLI delivers a 19.5% return on equity — every $100 of shareholder capital generates $20 in annual profit, vs $16 for JPM. HLI carries lower financial leverage with a 0.20x debt-to-equity ratio, signaling a more conservative balance sheet compared to JPM's 2.18x. On the Piotroski fundamental quality scale (0–9), HLI scores 7/9 vs JPM's 5/9, reflecting strong financial health.
| Metric | HLIHoulihan Lokey, I… | JPMJPMorgan Chase & … |
|---|---|---|
| ROE (TTM)Return on equity | +19.5% | +16.1% |
| ROA (TTM)Return on assets | +11.4% | +1.3% |
| ROICReturn on invested capital | +15.5% | +5.4% |
| ROCEReturn on capital employed | +20.1% | +8.2% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 5 |
| Debt / EquityFinancial leverage | 0.20x | 2.18x |
| Net DebtTotal debt minus cash | -$533M | $281.8B |
| Cash & Equiv.Liquid assets | $971M | $469.3B |
| Total DebtShort + long-term debt | $438M | $751.1B |
| Interest CoverageEBIT ÷ Interest expense | — | 0.74x |
Total Returns (with DRIP)
A $10,000 investment in HLI five years ago would be worth $26,770 today (with dividends reinvested), compared to $21,449 for JPM. Over the past 12 months, JPM leads with a +15.7% total return vs HLI's -4.2%. The 3-year compound annual growth rate (CAGR) favors JPM at 30.0% vs HLI's 21.2% — a key indicator of consistent wealth creation.
| Metric | HLIHoulihan Lokey, I… | JPMJPMorgan Chase & … |
|---|---|---|
| YTD ReturnYear-to-date | -7.1% | -7.3% |
| 1-Year ReturnPast 12 months | -4.2% | +15.7% |
| 3-Year ReturnCumulative with dividends | +78.2% | +119.7% |
| 5-Year ReturnCumulative with dividends | +167.7% | +114.5% |
| 10-Year ReturnCumulative with dividends | +601.0% | +497.7% |
| CAGR (3Y)Annualised 3-year return | +21.2% | +30.0% |
Risk & Volatility
HLI is the less volatile stock with a 0.98 beta — it tends to amplify market swings less than JPM's 1.00 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. JPM currently trades 89.0% from its 52-week high vs HLI's 77.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | HLIHoulihan Lokey, I… | JPMJPMorgan Chase & … |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.98x | 1.00x |
| 52-Week HighHighest price in past year | $211.78 | $337.25 |
| 52-Week LowLowest price in past year | $137.99 | $202.16 |
| % of 52W HighCurrent price vs 52-week peak | +77.3% | +89.0% |
| RSI (14)Momentum oscillator 0–100 | 46.5 | 48.1 |
| Avg Volume (50D)Average daily shares traded | 440K | 9.0M |
Analyst Outlook
Wall Street rates HLI as "Buy" and JPM as "Buy". Consensus price targets imply 25.6% upside for HLI (target: $206) vs 11.9% for JPM (target: $336). For income investors, JPM offers the higher dividend yield at 1.71% vs HLI's 1.47%.
| Metric | HLIHoulihan Lokey, I… | JPMJPMorgan Chase & … |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $205.67 | $336.10 |
| # AnalystsCovering analysts | 15 | 60 |
| Dividend YieldAnnual dividend ÷ price | +1.5% | +1.7% |
| Dividend StreakConsecutive years of raises | 7 | 14 |
| Dividend / ShareAnnual DPS | $2.41 | $5.13 |
| Buyback YieldShare repurchases ÷ mkt cap | +2.1% | +3.5% |
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% |
| JPMorgan Chase & Co. (JPM) | 100 | 253.57 | +153.6% |
Houlihan Lokey, Inc. (HLI) returned +168% over 5 years vs JPMorgan Chase & Co. (JPM)'s +114%. 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% |
| JPMorgan Chase & Co. (JPM) | $106.4B | $270.8B | +154.5% |
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% |
| JPMorgan Chase & Co. (JPM) | 23.2% | 21.6% | -7.1% |
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% |
| JPMorgan Chase & Co. (JPM) | 16.9 | 12.1 | -28.4% |
Houlihan Lokey, Inc. has traded in a 14x–42x P/E range over 9 years; current trailing P/E is ~28x. JPMorgan Chase & Co. has traded in a 10x–17x P/E range over 8 years; current trailing P/E is ~15x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Houlihan Lokey, Inc. (HLI) | 1.1 | 5.82 | +429.1% |
| JPMorgan Chase & Co. (JPM) | 6.19 | 19.75 | +219.1% |
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). JPMorgan Chase & Co. generated $-42B FCF in 2024 (-154% vs 2021).
HLI vs JPM: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is HLI or JPM a better buy right now?
JPMorgan Chase & Co. (JPM) offers the better valuation at 15.2x trailing P/E (13.9x 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 JPM?
On trailing P/E, JPMorgan Chase & Co. (JPM) is the cheapest at 15.2x versus Houlihan Lokey, Inc. at 28.1x. On forward P/E, JPMorgan Chase & Co. is actually cheaper at 13.9x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: JPMorgan Chase & Co. wins at 1.07x versus Houlihan Lokey, Inc.'s 1.32x — a reasonable growth-adjusted valuation.
03Which is the better long-term investment — HLI or JPM?
Over the past 5 years, Houlihan Lokey, Inc. (HLI) delivered a total return of +167.7%, compared to +114.5% for JPMorgan Chase & Co. (JPM). 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: HLI returned +601.0% versus JPM's +497.7%. 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 JPM?
By beta (market sensitivity over 5 years), Houlihan Lokey, Inc. (HLI) is the lower-risk stock at 0.98β versus JPMorgan Chase & Co.'s 1.00β — meaning JPM is approximately 3% 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 2% for JPMorgan Chase & Co. — giving it more financial flexibility in a downturn.
05Which has better profit margins — HLI or JPM?
JPMorgan Chase & Co. (JPM) is the more profitable company, earning 21.6% net margin versus 16.7% for Houlihan Lokey, Inc. — meaning it keeps 21.6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: JPM leads at 27.7% versus 21.0% for HLI. At the gross margin level — before operating expenses — JPM leads at 58.6%, 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 JPM 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, JPMorgan Chase & Co. (JPM) is the more undervalued stock at a PEG of 1.07x versus Houlihan Lokey, Inc.'s 1.32x. A PEG below 1.5 suggests fair-to-attractive pricing relative to expected growth. On forward earnings alone, JPMorgan Chase & Co. (JPM) trades at 13.9x forward P/E versus 20.8x for Houlihan Lokey, Inc. — 6.8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for HLI: 25.6% to $205.67.
07Which pays a better dividend — HLI or JPM?
All stocks in this comparison pay dividends. JPMorgan Chase & Co. (JPM) offers the highest yield at 1.7%, versus 1.5% for Houlihan Lokey, Inc. (HLI).
08Is HLI or JPM 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). Both have compounded well over 10 years (HLI: +601.0%, JPM: +497.7%), 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 JPM?
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. In terms of investment character: HLI is a small-cap quality compounder stock; JPM is a large-cap deep-value stock. 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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