8-K Announcements
6Feb 25, 2026·SEC
Jan 29, 2026·SEC
Jan 29, 2026·SEC
Houlihan Lokey, Inc. (HLI) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Houlihan Lokey, Inc. (HLI) stock price & volume — 10-year historical chart
Houlihan Lokey, Inc. (HLI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Houlihan Lokey, Inc. (HLI) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Jan 28, 2026 | $1.94vs $1.85+4.9% | $717Mvs $697M+2.9% |
| Q4 2025 | Oct 30, 2025 | $1.84vs $1.68+9.5% | $659Mvs $652M+1.2% |
| Q3 2025 | Jul 29, 2025 | $2.14vs $1.68+27.4% | $605Mvs $580M+4.4% |
| Q2 2025 | May 7, 2025 | $1.96vs $1.62+21.0% | $666Mvs $628M+6.1% |
Houlihan Lokey, Inc. (HLI) competitors in Investment Banking and M&A Advisory — business model, growth, and fundamentals comparison
Houlihan Lokey, Inc. (HLI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Houlihan Lokey, Inc. (HLI) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| NII Growth % | - | - | - | - | - | - | - | - | - | 0% |
| Net Interest Margin % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Loan Loss Provision | 582.24M | 636.63M | 692.07M | 737.76M | 971.2M | 1.41B | 1.11B | 1.18B | 1.47B | 1.22B |
| Non-Interest Income | 872.09M | 963.36M | 1.08B | 1.16B | 1.53B | 2.27B | 1.81B | 1.91B | 2.39B | 2.65B |
| Non-Interest Income % | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| Total Revenue | 872.09M▲ 0% | 963.36M▲ 10.5% | 1.08B▲ 12.6% | 1.16B▲ 6.9% | 1.53B▲ 31.6% | 2.27B▲ 48.8% | 1.81B▼ 20.3% | 1.91B▲ 5.8% | 2.39B▲ 24.8% | 2.65B▲ 0% |
| Revenue Growth % | 25.7% | 10.47% | 12.56% | 6.91% | 31.58% | 48.81% | -20.29% | 5.8% | 24.81% | 73.63% |
| Non-Interest Expense | 107.85M | 112.32M | 173.22M | 192M | 146.1M | 248.46M | 354.9M | 374.19M | 418.38M | 886.6M |
| Efficiency Ratio | 12.37% | 11.66% | 15.97% | 16.56% | 9.58% | 10.95% | 19.61% | 19.55% | 17.51% | 33.48% |
| Operating Income | 182M▲ 0% | 214.41M▲ 17.8% | 219.1M▲ 2.2% | 229.6M▲ 4.8% | 408.16M▲ 77.8% | 612.86M▲ 50.2% | 341.74M▼ 44.2% | 362.86M▲ 6.2% | 501.54M▲ 38.2% | 541.08M▲ 0% |
| Operating Margin % | 20.87% | 22.26% | 20.2% | 19.8% | 26.76% | 27% | 18.89% | 18.95% | 20.99% | 20.43% |
| Operating Income Growth % | 43.98% | 17.81% | 2.18% | 4.79% | 77.77% | 50.15% | -44.24% | 6.18% | 38.22% | - |
| Pretax Income | 178.49M▲ 0% | 217.84M▲ 22.0% | 224.32M▲ 3.0% | 235.65M▲ 5.0% | 409.23M▲ 73.7% | 603.94M▲ 47.6% | 324M▼ 46.4% | 390.54M▲ 20.5% | 531.34M▲ 36.1% | 578.01M▲ 0% |
| Pretax Margin % | 20.47% | 22.61% | 20.69% | 20.33% | 26.83% | 26.61% | 17.91% | 20.4% | 22.24% | 21.83% |
| Income Tax | 70.14M | 45.55M | 65.21M | 51.85M | 96.46M | 165.61M | 69.78M | 110.24M | 131.62M | 130.22M |
| Effective Tax Rate % | 39.3% | 20.91% | 29.07% | 22% | 23.57% | 27.42% | 21.54% | 28.23% | 24.77% | 22.53% |
| Net Income | 108.34M▲ 0% | 172.28M▲ 59.0% | 159.11M▼ 7.6% | 183.79M▲ 15.5% | 312.77M▲ 70.2% | 437.75M▲ 40.0% | 254.22M▼ 41.9% | 280.3M▲ 10.3% | 399.71M▲ 42.6% | 447.78M▲ 0% |
| Net Margin % | 12.42% | 17.88% | 14.67% | 15.85% | 20.5% | 19.28% | 14.05% | 14.64% | 16.73% | 16.91% |
| Net Income Growth % | 55.35% | 59.02% | -7.65% | 15.52% | 70.18% | 39.96% | -41.93% | 10.26% | 42.6% | 24.78% |
| Net Income (Continuing) | 108.34M | 172.28M | 159.11M | 183.79M | 312.77M | 438.32M | 254.22M | 280.3M | 399.71M | 447.78M |
| EPS (Diluted) | 1.63▲ 0% | 2.60▲ 59.5% | 2.42▼ 6.9% | 2.80▲ 15.7% | 4.55▲ 62.5% | 6.41▲ 40.9% | 3.76▼ 41.3% | 4.11▲ 9.3% | 5.82▲ 41.6% | 6.54▲ 0% |
| EPS Growth % | 48.18% | 59.51% | -6.92% | 15.7% | 62.5% | 40.88% | -41.34% | 9.31% | 41.61% | 24.24% |
| EPS (Basic) | 1.77 | 2.60 | 2.42 | 2.96 | 4.75 | 6.74 | 4.01 | 4.36 | 6.08 | - |
| Diluted Shares Outstanding | 66.58M | 66.32M | 65.85M | 65.73M | 68.67M | 68.26M | 67.59M | 68.16M | 68.66M | 68.43M |
Houlihan Lokey, Inc. (HLI) balance sheet — assets, liabilities & shareholders' equity
| Line item | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | 300.31M | 206.72M | 285.75M | 485.68M | 846.85M | 833.7M | 720.69M | 728.8M | 1.14B | 4.2B |
| Cash & Due from Banks | 300.31M | 206.72M | 285.75M | 380.37M | 846.85M | 833.7M | 714.44M | 721.24M | 971.01M | 1.06B |
| Short Term Investments | 0 | 0 | 0 | 105.3M | 0 | 0 | 6.25M | 7.57M | 167.33M | 84.14M |
| Total Investments | 0 | 209.32M | 125.26M | 135.39M | 208.62M | 109.14M | 37.31M | 38.01M | 195.62M | 127.6M |
| Investments Growth % | - | - | -40.16% | 8.09% | 54.09% | -47.68% | -65.82% | 1.87% | 414.73% | 767.33% |
| Long-Term Investments | 0 | 209.32M | 125.26M | 30.09M | 208.62M | 109.14M | 31.05M | 30.44M | 28.3M | 129.97M |
| Accounts Receivables | 60.72M | 77.26M | 69.49M | 80.91M | 108.41M | 144.03M | 182.03M | 199.63M | 257.33M | 210.88M |
| Goodwill & Intangibles | 715.34M | 723.31M | 794.6M | 812.84M | 866.22M | 1.32B | 1.29B | 1.32B | 1.5B | 1.49B |
| Goodwill | 519.49M | 528.89M | 594.81M | 618.46M | 671.07M | 1.07B | 1.09B | 1.13B | 1.28B | 1.29B |
| Intangible Assets | 195.86M | 194.42M | 199.79M | 194.39M | 195.16M | 247.33M | 203.37M | 197.44M | 212.67M | 199.6M |
| PP&E (Net) | 30.42M | 32.15M | 31.03M | 177.61M | 198.4M | 224.12M | 422.22M | 480.73M | 512.02M | 556.57M |
| Other Assets | 17.95M | 21.99M | 34.7M | 38.89M | 50.75M | 57.65M | 83.61M | 90.68M | 131.37M | 260.16M |
| Total Current Assets | 622M | 432.08M | 437.47M | 611.06M | 1.07B | 1.08B | 1.04B | 1.15B | 1.56B | 1.58B |
| Total Non-Current Assets | 763.71M | 986.76M | 988.45M | 1.07B | 1.35B | 1.8B | 1.93B | 2.02B | 2.26B | 2.35B |
| Total Assets | 1.38B▲ 0% | 1.42B▲ 2.6% | 1.42B▲ 0.3% | 1.68B▲ 17.8% | 2.43B▲ 44.7% | 2.89B▲ 19.0% | 2.97B▲ 2.8% | 3.17B▲ 6.8% | 3.82B▲ 20.5% | 3.94B▲ 0% |
| Asset Growth % | 29.09% | 2.64% | 0.3% | 17.84% | 44.67% | 18.99% | 2.84% | 6.8% | 20.47% | 71.34% |
| Return on Assets (ROA) | 8.83% | 12.3% | 11.2% | 11.86% | 15.25% | 16.48% | 8.68% | 9.13% | 11.44% | 11.89% |
| Accounts Payable | 41.66M | 40.77M | 55.05M | 53.88M | 67.47M | 126.19M | 113.42M | 114.17M | 137.23M | 107.66M |
| Total Debt | 32.56M | 12.85M | 8.66M | 158.89M | 175.33M | 197.63M | 374.87M | 415.41M | 438.19M | 497.13M |
| Net Debt | -267.75M | -193.87M | -277.09M | -221.48M | -671.52M | -636.07M | -339.57M | -305.82M | -532.82M | -559.35M |
| Long-Term Debt | 32.56M | 11.86M | 8.66M | 4.68M | 818K | 539K | 0 | 0 | 0 | 0 |
| Short-Term Debt | 0 | 989K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 201M | 96.11M | -5.28M | 5.24M | 55.05M | 74.87M | 60.11M | 37.75M | 69.4M | 157.06M |
| Total Current Liabilities | 386.77M | 432.26M | 495.34M | 501.04M | 812.07M | 1.17B | 919.99M | 873.34M | 1.13B | 988.79M |
| Total Non-Current Liabilities | 268.48M | 133.77M | 39.25M | 191.58M | 230.43M | 273.29M | 435.52M | 460.67M | 516.37M | 654.2M |
| Total Liabilities | 655.25M | 566.03M | 534.58M | 692.62M | 1.04B | 1.44B | 1.36B | 1.33B | 1.64B | 1.64B |
| Total Equity | 730.46M▲ 0% | 852.81M▲ 16.8% | 891.33M▲ 4.5% | 984.38M▲ 10.4% | 1.38B▲ 40.6% | 1.44B▲ 4.3% | 1.61B▲ 11.7% | 1.84B▲ 13.9% | 2.17B▲ 18.4% | 2.29B▲ 0% |
| Equity Growth % | 11.77% | 16.75% | 4.52% | 10.44% | 40.55% | 4.35% | 11.75% | 13.85% | 18.41% | 62.51% |
| Equity / Assets (Capital Ratio) | 52.84% | 60.11% | 62.63% | 58.7% | 57.03% | 50.01% | 54.34% | 57.93% | 56.94% | 58.27% |
| Return on Equity (ROE) | 15.66% | 21.76% | 18.24% | 19.6% | 26.42% | 30.97% | 16.63% | 16.25% | 19.93% | 20.14% |
| Book Value per Share | 10.97 | 12.86 | 13.54 | 14.98 | 20.15 | 21.15 | 23.87 | 26.95 | 31.68 | 33.52 |
| Tangible BV per Share | 0.23 | 1.95 | 1.47 | 2.61 | 7.53 | 1.84 | 4.77 | 7.51 | 9.87 | 11.71 |
| Common Stock | 73K | 68K | 65K | 65K | 68K | 68K | 69K | 69K | 70K | 69K |
| Additional Paid-in Capital | 854.75M | 753.08M | 645.09M | 649.95M | 803.57M | 564.76M | 642.97M | 739.87M | 843.35M | 734.49M |
| Retained Earnings | 87.41M | 207.12M | 276.47M | 377.47M | 600.1M | 922.22M | 1.03B | 1.16B | 1.39B | 1.59B |
| Accumulated OCI | -21.92M | -13.96M | -30.29M | -43.11M | -20.18M | -43.35M | -62.81M | -66.61M | -63.28M | -29.47M |
| Treasury Stock | -193.57M | -93.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Houlihan Lokey, Inc. (HLI) cash flow — operating, investing & free cash flow history
| Line item | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 229.26M | 250.65M | 224.27M | 287.67M | 579.84M | 736.6M | 136.27M | 328.46M | 848.61M | 848.61M |
| Operating CF Growth % | 1595.87% | 9.33% | -10.52% | 28.27% | 101.56% | 27.04% | -81.5% | 141.03% | 158.36% | -50.61% |
| Net Income | 108.34M | 172.28M | 159.11M | 183.79M | 312.77M | 437.75M | 254.22M | 280.3M | 399.71M | 447.78M |
| Depreciation & Amortization | 8.85M | 7.91M | 14.47M | 17.29M | 15.23M | 48.54M | 58.22M | 28.54M | 41.27M | 50M |
| Deferred Taxes | -6.09M | -6.57M | -10.69M | -9.65M | -21.24M | 0 | -3.45M | 20.47M | -957K | -8.27M |
| Other Non-Cash Items | 4.01M | 447K | 569K | 28.23M | 30.43M | -23.94M | 38.85M | 28.92M | 44.07M | 61.94M |
| Working Capital Changes | 74.8M | 29.47M | 4.25M | 3.66M | 180.23M | 182.38M | -368.51M | -196.37M | 196.07M | 23.8M |
| Cash from Investing | -1.65M | -218.58M | 6.46M | -33.14M | -99.75M | -273.91M | -3M | -70.41M | -265.06M | -54.57M |
| Purchase of Investments | 0 | -209.32M | -146.97M | -350.68M | -391.56M | -101.56M | -19.23M | -11.28M | -250.48M | -315.85M |
| Sale/Maturity of Investments | 0 | 0 | 231.46M | 340.62M | 318.43M | 197.32M | 87.38M | 11.46M | 94.31M | 293.03M |
| Net Investment Activity | 0 | -209.32M | 84.49M | -10.05M | -73.13M | 95.76M | 68.15M | 180K | -156.17M | -22.82M |
| Acquisitions | -3.73M | -2.7M | -71.41M | -2.2M | -12.47M | -361M | -20.43M | -3.86M | -69.19M | -1.2M |
| Other Investing | 16.5M | 1.16M | 101K | -170K | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | 102.92M | -225.31M | -236.14M | -152.14M | -26.82M | -459.06M | -240.46M | -250.59M | -329.07M | -491.25M |
| Dividends Paid | -55.29M | -52.08M | -66.93M | -80.66M | -92.01M | -114.81M | -140.38M | -148.45M | -165.22M | -173.4M |
| Share Repurchases | 0 | -18.07M | -69.56M | -29.64M | -102.22M | -304.79M | -48.66M | -24.95M | -52.51M | -140.09M |
| Stock Issued | 193.56M | 93.5M | 0 | 0 | 189.06M | 0 | 0 | 0 | 0 | 0 |
| Net Stock Activity | 193.56M | 75.42M | -69.56M | -29.64M | 86.84M | -304.79M | -48.66M | -24.95M | -52.51M | -140.09M |
| Debt Issuance (Net) | -1000K | -1000K | -1000K | -1000K | -1000K | -280K | -1000K | 0 | 0 | 0 |
| Other Financing | 5.91M | -229.55M | -97.18M | -31.11M | -17.48M | -39.18M | -48.39M | -77.18M | -111.34M | -177.76M |
| Net Change in Cash | 326.52M▲ 0% | -192.46M▼ 158.9% | -14.11M▲ 92.7% | 94.63M▲ 770.8% | 466.48M▲ 392.9% | -13.15M▼ 102.8% | -119.26M▼ 806.6% | 7.04M▲ 105.9% | 253.72M▲ 3503.0% | 260.51M▲ 0% |
| Exchange Rate Effect | -4.02M | 785K | -8.7M | -7.75M | 13.21M | -16.78M | -12.06M | -425K | -756K | 36.84M |
| Cash at Beginning | 166.17M | 492.69M | 300.22M | 286.12M | 380.75M | 847.22M | 834.07M | 714.81M | 721.85M | 928.4M |
| Cash at End | 492.69M | 300.22M | 286.12M | 380.75M | 847.22M | 834.07M | 714.81M | 721.85M | 975.58M | 1.06B |
| Interest Paid | 1.62M | 656K | 977K | 1.05M | 989K | 1M | 5.9M | 579K | 1.36M | 485K |
| Income Taxes Paid | 57.29M | 47.63M | 80.84M | 73.88M | 44.2M | 242.03M | 156.79M | 105.06M | 93.31M | 82.37M |
| Free Cash Flow | 214.84M▲ 0% | 242.93M▲ 13.1% | 217.55M▼ 10.4% | 266.95M▲ 22.7% | 565.69M▲ 111.9% | 727.92M▲ 28.7% | 85.54M▼ 88.2% | 261.73M▲ 206.0% | 808.91M▲ 209.1% | 738.94M▲ 0% |
| FCF Growth % | 5096.93% | 13.07% | -10.45% | 22.71% | 111.91% | 28.68% | -88.25% | 205.96% | 209.07% | 8.97% |
Houlihan Lokey, Inc. (HLI) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 15.66% | 21.76% | 18.24% | 19.6% | 26.42% | 30.97% | 16.63% | 16.25% | 19.93% | 20.14% |
| Return on Assets (ROA) | 8.83% | 12.3% | 11.2% | 11.86% | 15.25% | 16.48% | 8.68% | 9.13% | 11.44% | 11.89% |
| Net Interest Margin | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Efficiency Ratio | 12.37% | 11.66% | 15.97% | 16.56% | 9.58% | 10.95% | 19.61% | 19.55% | 17.51% | 33.48% |
| Equity / Assets | 52.84% | 60.11% | 62.63% | 58.7% | 57.03% | 50.01% | 54.34% | 57.93% | 56.94% | 58.27% |
| Book Value / Share | 10.97 | 12.86 | 13.54 | 14.98 | 20.15 | 21.15 | 23.87 | 26.95 | 31.68 | 33.52 |
| Dividend Payout | 51.04% | 30.23% | 42.07% | 43.88% | 29.42% | 26.23% | 55.22% | 52.96% | 41.33% | 38.72% |
Houlihan Lokey, Inc. (HLI) SEC filings — annual & quarterly reports (10-K, 10-Q)
Feb 25, 2026·SEC
Jan 29, 2026·SEC
Jan 29, 2026·SEC
Houlihan Lokey, Inc. (HLI) stock FAQ — growth, dividends, profitability & financials explained
Houlihan Lokey, Inc. (HLI) grew revenue by 24.8% over the past year. This is strong growth.
Yes, Houlihan Lokey, Inc. (HLI) is profitable, generating $447.8M in net income for fiscal year 2025 (16.7% net margin).
Yes, Houlihan Lokey, Inc. (HLI) pays a dividend with a yield of 1.63%. This makes it attractive for income-focused investors.
Houlihan Lokey, Inc. (HLI) has a return on equity (ROE) of 19.9%. This is reasonable for most industries.
Houlihan Lokey, Inc. (HLI) has a net interest margin (NIM) of N/A. NIM has been under pressure due to interest rate environment.
Houlihan Lokey, Inc. (HLI) has an efficiency ratio of 17.5%. This is excellent, indicating strong cost control.
Houlihan Lokey, Inc. (HLI) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates