Last 45 quarters of trend data · Financial Services · Financial - Capital Markets
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Houlihan Lokey, Inc.'s quarterly P/E stands at 25.6x, down 18.0% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 15.4% YoY to 16.8x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 26.37 | 25.62 | 31.49 | 31.68 | 22.94 | 31.23 | 28.84 | 25.93 | 27.16 | 28.82 | 27.05 | 27.31 | 24.86 |
| — | -18.0% | +9.2% | +22.2% | -15.5% | +8.4% | +6.6% | -5.0% | +9.3% | +19.1% | +24.9% | +42.5% | +9.8% | |
| P/S Ratio | 4.48 | 4.16 | 5.34 | 5.12 | 4.19 | 4.71 | 4.70 | 4.50 | 4.22 | 3.98 | 3.89 | 4.02 | 3.35 |
| — | -11.7% | +13.6% | +13.9% | -0.6% | +18.2% | +20.8% | +11.9% | +25.9% | +19.6% | +44.8% | +23.9% | +6.6% | |
| P/B Ratio | 4.84 | 5.20 | 6.27 | 5.69 | 5.14 | 5.74 | 5.52 | 5.05 | 4.78 | 4.60 | 4.42 | 4.14 | 3.69 |
| — | -9.5% | +13.5% | +12.7% | +7.5% | +24.7% | +25.1% | +22.0% | +29.4% | +16.6% | +21.4% | +8.0% | -10.0% | |
| P/FCF | 13.24 | 13.73 | 10.91 | — | 8.12 | 11.41 | 9.70 | — | 10.30 | 23.85 | 16.15 | — | 6.80 |
| — | +20.3% | +12.5% | — | -21.2% | -52.2% | -39.9% | — | +51.5% | +21.2% | -11.9% | — | -70.9% | |
| EV / EBITDA | 18.75 | 16.80 | 21.02 | 28.46 | 17.20 | 19.87 | 19.10 | 22.26 | 19.09 | 19.39 | 18.48 | 20.84 | 14.49 |
| — | -15.4% | +10.1% | +27.9% | -9.9% | +2.4% | +3.4% | +6.8% | +31.8% | +30.0% | +62.6% | +57.1% | +29.9% | |
| EV / EBIT | 20.29 | 17.67 | 20.11 | 23.48 | 16.64 | 19.43 | 19.16 | 21.00 | 20.63 | 18.84 | 19.93 | 22.69 | 15.50 |
| — | -9.1% | +5.0% | +11.8% | -19.4% | +3.2% | -3.9% | -7.5% | +33.1% | +9.1% | +44.0% | +37.2% | +15.6% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Houlihan Lokey, Inc.'s operating margin was 22.4% in Q3 2026, down 0.5 pp QoQ and up 1.0 pp YoY. The trailing four-quarter average of 20.3% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 159.7% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.5% | 100.0% | 33.5% | 38.5% | 38.5% | 38.5% | 38.5% | 38.5% | 36.7% | 38.5% | 36.5% | 36.6% | 36.4% |
| — | +159.7% | -13.0% | 0.0% | +4.9% | 0.0% | +5.5% | +5.1% | +0.8% | +5.1% | -0.6% | +0.3% | -3.5% | |
| Operating Margin | 21.0% | 22.4% | 22.9% | 14.8% | 20.9% | 21.5% | 22.7% | 18.4% | 19.7% | 18.9% | 19.3% | 17.6% | 20.4% |
| — | +4.5% | +1.0% | -19.6% | +5.9% | +13.6% | +17.6% | +4.6% | -3.2% | +2.4% | +5.9% | -4.8% | -2.6% | |
| Net Margin | 16.7% | 16.3% | 17.0% | 16.1% | 18.3% | 15.0% | 16.3% | 17.3% | 15.6% | 13.9% | 14.4% | 14.8% | 13.4% |
| — | +8.2% | +4.2% | -7.0% | +17.4% | +8.4% | +13.4% | +17.3% | +16.1% | +0.3% | +15.7% | -12.7% | -3.0% |
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 19.9% | 5.1% | 5.1% | 4.5% | 5.7% | 4.7% | 4.9% | 4.9% | 4.5% | 4.1% | 4.1% | 3.8% | 3.8% |
| — | +8.7% | +2.3% | -7.6% | +27.4% | +13.9% | +20.2% | +27.6% | +18.9% | -1.8% | -3.1% | -23.1% | -13.7% | |
| ROA | 11.4% | 3.0% | 3.1% | 2.7% | 3.3% | 2.8% | 3.0% | 2.9% | 2.6% | 2.5% | 2.4% | 2.2% | 2.1% |
| — | +5.8% | +0.6% | -8.6% | +26.3% | +15.5% | +24.4% | +34.5% | +25.1% | +1.4% | -0.5% | -18.7% | -3.7% | |
| ROIC | 15.5% | 4.4% | 4.3% | 2.6% | 4.1% | 4.2% | 4.2% | 3.1% | 3.5% | 3.4% | 3.3% | 2.7% | 3.6% |
| — | +5.8% | +1.7% | -18.2% | +17.4% | +22.4% | +27.8% | +15.3% | -2.7% | -6.7% | -20.3% | -23.8% | -19.0% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Houlihan Lokey, Inc.'s Debt/EBITDA ratio is 2.9x, up from 2.7x last quarter — at a moderate level that warrants monitoring. The current ratio has improved 14.3% YoY to 1.60x, strengthening the short-term liquidity position.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.20 | 0.22 | 0.19 | 0.20 | 0.20 | 0.21 | 0.22 | 0.24 | 0.23 | 0.24 | 0.25 | 0.27 | 0.23 |
| — | +4.1% | -12.6% | -15.0% | -10.9% | -12.3% | -13.5% | -10.5% | -2.7% | +28.8% | +94.6% | +99.7% | +69.7% | |
| Debt / EBITDA | 0.81 | 2.94 | 2.68 | 4.16 | 2.83 | 2.97 | 3.12 | 4.20 | 3.74 | 4.07 | 4.31 | 5.37 | 3.87 |
| — | -1.1% | -14.2% | -0.9% | -24.3% | -27.0% | -27.5% | -21.8% | -3.2% | +39.6% | +147.5% | +175.5% | +131.9% | |
| Current Ratio | 1.38 | 1.60 | 1.63 | 1.56 | 1.38 | 1.40 | 1.41 | 1.34 | 1.32 | 1.29 | 1.18 | 1.19 | 1.13 |
| — | +14.3% | +16.2% | +16.1% | +4.5% | +9.1% | +19.4% | +12.7% | +17.4% | +20.9% | +21.9% | +26.7% | +21.6% | |
| Quick Ratio | 1.38 | 1.60 | 1.63 | 1.56 | 1.38 | 1.40 | 1.41 | 1.34 | 1.32 | 1.29 | 1.18 | 1.19 | 1.13 |
| — | +14.3% | +16.2% | +16.1% | +4.5% | +9.1% | +19.4% | +12.7% | +17.4% | +20.9% | +21.9% | +26.7% | +21.6% | |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 45 years · Updated daily
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorDCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare business quality, growth, and profitability against top sector peers.
Start ComparisonQuick answers to the most common questions about buying HLI stock.
Houlihan Lokey, Inc.'s current P/E is 26.4x. The average P/E over the last 4 quarters is 27.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Houlihan Lokey, Inc.'s current operating margin is 21.0%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Houlihan Lokey, Inc.'s business trajectory between earnings reports.