Last 48 quarters of trend data · Financial Services · Investment Banks & Brokerages
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '27 | Q1 '27 | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 24.23 | 19.26 | 29.16 | 24.43 | 25.62 | 31.49 | 31.68 | 22.94 | 31.23 | 28.84 | 25.93 | 27.16 | 28.82 | 27.05 | 27.31 | 24.86 | 24.21 | 21.66 | 19.16 | 22.63 | 10.19 |
| — | -38.8% | -8.0% | +6.5% | -18.0% | +9.2% | +22.2% | -15.5% | +8.4% | +6.6% | -5.0% | +9.3% | +19.1% | +24.9% | +42.5% | +9.8% | +137.6% | +55.2% | +17.1% | +96.0% | +3.7% | |
| P/S Ratio | 3.99 | 3.06 | 4.44 | 3.84 | 4.16 | 5.34 | 5.12 | 4.19 | 4.71 | 4.70 | 4.50 | 4.22 | 3.98 | 3.89 | 4.02 | 3.35 | 3.33 | 2.69 | 3.24 | 3.14 | 1.99 |
| — | -42.7% | -13.4% | -8.3% | -11.7% | +13.6% | +13.9% | -0.6% | +18.2% | +20.8% | +11.9% | +25.9% | +19.6% | +44.8% | +23.9% | +6.6% | +67.4% | -8.6% | -13.9% | +37.4% | -8.3% | |
| P/B Ratio | 4.07 | 3.50 | 3.83 | 3.99 | 5.20 | 6.27 | 5.69 | 5.14 | 5.74 | 5.52 | 5.05 | 4.78 | 4.60 | 4.42 | 4.14 | 3.69 | 3.94 | 3.64 | 3.83 | 4.10 | 4.62 |
| — | -44.1% | -32.6% | -22.4% | -9.5% | +13.5% | +12.7% | +7.5% | +24.7% | +25.1% | +22.0% | +29.4% | +16.6% | +21.4% | +8.0% | -10.0% | -14.6% | -17.2% | -5.6% | +23.9% | +34.2% | |
| P/FCF | 25.37 | 8.82 | — | 8.52 | 13.73 | 10.91 | — | 8.12 | 11.41 | 9.70 | — | 10.30 | 23.85 | 16.15 | — | 6.80 | 19.68 | 18.32 | — | 23.38 | 3.23 |
| — | -19.2% | — | +4.9% | +20.3% | +12.5% | — | -21.2% | -52.2% | -39.9% | — | +51.5% | +21.2% | -11.9% | — | -70.9% | +509.2% | +142.7% | — | +449.9% | -15.7% | |
| EV / EBITDA | 16.16 | 12.38 | 25.63 | 15.02 | 15.22 | 21.02 | 28.46 | 17.20 | 19.87 | 19.10 | 22.26 | 19.09 | 19.39 | 18.48 | 20.84 | 14.49 | 14.91 | 11.36 | 13.27 | 11.15 | 5.75 |
| — | -41.1% | -10.0% | -12.7% | -23.4% | +10.1% | +27.9% | -9.9% | +2.4% | +3.4% | +6.8% | +31.8% | +30.0% | +62.6% | +57.1% | +29.9% | +159.2% | +32.2% | +18.5% | +64.4% | -11.0% | |
| EV / EBIT | 15.35 | 12.77 | 28.25 | 16.87 | 15.93 | 20.11 | 23.48 | 16.64 | 19.43 | 19.16 | 21.00 | 20.63 | 18.84 | 19.93 | 22.69 | 15.50 | 17.26 | 13.84 | 16.54 | 13.40 | 6.22 |
| — | -36.5% | +20.3% | +1.4% | -18.0% | +5.0% | +11.8% | -19.4% | +3.2% | -3.9% | -7.5% | +33.1% | +9.1% | +44.0% | +37.2% | +15.6% | +177.7% | +56.7% | +42.3% | +92.3% | -6.2% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '27 | Q1 '27 | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 98.4% | 100.0% | 30.7% | 98.7% | 38.5% | 33.5% | 38.5% | 38.5% | 38.5% | 38.5% | 38.5% | 36.7% | 38.5% | 36.5% | 36.6% | 36.4% | 36.6% | 36.7% | 36.5% | 37.7% | 38.2% |
| — | +198.4% | -20.2% | +156.5% | -0.0% | -13.0% | 0.0% | +4.9% | 0.0% | +5.5% | +5.1% | +0.8% | +5.1% | -0.6% | +0.3% | -3.5% | -4.1% | -3.3% | -3.0% | +2.8% | +3.7% | |
| Operating Margin | 23.6% | 22.3% | 15.3% | 22.5% | 24.9% | 22.9% | 14.8% | 20.9% | 21.5% | 22.7% | 18.4% | 19.7% | 18.9% | 19.3% | 17.6% | 20.4% | 18.4% | 18.3% | 18.5% | 20.9% | 28.0% |
| — | -3.0% | +2.9% | +7.7% | +15.9% | +1.0% | -19.6% | +5.9% | +13.6% | +17.6% | +4.6% | -3.2% | +2.4% | +5.9% | -4.8% | -2.6% | -34.3% | -37.7% | -35.9% | -25.3% | -4.8% | |
| Net Margin | 16.3% | 15.8% | 15.3% | 15.7% | 16.3% | 17.0% | 16.1% | 18.3% | 15.0% | 16.3% | 17.3% | 15.6% | 13.9% | 14.4% | 14.8% | 13.4% | 13.8% | 12.4% | 16.9% | 13.8% | 19.5% |
| — | -7.1% | -5.3% | -14.1% | +8.2% | +4.2% | -7.0% | +17.4% | +8.4% | +13.4% | +17.3% | +16.1% | +0.3% | +15.7% | -12.7% | -3.0% | -29.3% | -41.0% | -26.7% | -30.3% | -11.3% |
| Metric | TTM | Q2 '27 | Q1 '27 | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 18.4% | 4.6% | 3.2% | 4.2% | 5.1% | 5.1% | 4.5% | 5.7% | 4.7% | 4.9% | 4.9% | 4.5% | 4.1% | 4.1% | 3.8% | 3.8% | 4.2% | 4.2% | 4.9% | 4.4% | 11.7% |
| — | -9.8% | -27.7% | -26.6% | +8.7% | +2.3% | -7.6% | +27.4% | +13.9% | +20.2% | +27.6% | +18.9% | -1.8% | -3.1% | -23.1% | -13.7% | -64.0% | -47.0% | -20.3% | -39.6% | +28.7% | |
| ROA | 10.5% | 2.8% | 1.9% | 2.4% | 3.0% | 3.1% | 2.7% | 3.3% | 2.8% | 3.0% | 2.9% | 2.6% | 2.5% | 2.4% | 2.2% | 2.1% | 2.4% | 2.5% | 2.7% | 2.2% | 6.4% |
| — | -7.3% | -26.9% | -27.5% | +5.8% | +0.6% | -8.6% | +26.3% | +15.5% | +24.4% | +34.5% | +25.1% | +1.4% | -0.5% | -18.7% | -3.7% | -62.2% | -51.0% | -29.2% | -49.7% | +7.3% | |
| ROIC | 16.7% | 4.0% | 2.0% | 3.7% | 4.9% | 4.3% | 2.6% | 4.1% | 4.2% | 4.2% | 3.1% | 3.5% | 3.4% | 3.3% | 2.7% | 3.6% | 3.6% | 4.1% | 3.6% | 4.4% | 11.3% |
| — | -6.6% | -21.7% | -8.2% | +17.4% | +1.7% | -18.2% | +17.4% | +22.4% | +27.8% | +15.3% | -2.7% | -6.7% | -20.3% | -23.8% | -19.0% | -67.6% | -44.7% | -30.9% | -35.5% | +39.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '27 | Q1 '27 | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.20 | 0.20 | 0.21 | 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 | 0.18 | 0.13 | 0.13 | 0.14 | 0.12 |
| — | +6.0% | +3.1% | -0.4% | +4.1% | -12.6% | -15.0% | -10.9% | -12.3% | -13.5% | -10.5% | -2.7% | +28.8% | +94.6% | +99.7% | +69.7% | +50.1% | +14.2% | +8.8% | +8.0% | -1.9% | |
| Debt / EBITDA | 0.74 | 3.01 | 5.73 | 3.26 | 2.66 | 2.68 | 4.16 | 2.83 | 2.97 | 3.12 | 4.20 | 3.74 | 4.07 | 4.31 | 5.37 | 3.87 | 2.92 | 1.74 | 1.95 | 1.67 | 0.70 |
| — | +12.5% | +37.7% | +15.0% | -10.4% | -14.2% | -0.9% | -24.3% | -27.0% | -27.5% | -21.8% | -3.2% | +39.6% | +147.5% | +175.5% | +131.9% | +318.1% | +70.6% | +28.8% | +37.1% | -33.2% | |
| Current Ratio | 1.53 | 1.64 | 1.44 | 1.53 | 1.60 | 1.63 | 1.56 | 1.38 | 1.40 | 1.41 | 1.34 | 1.32 | 1.29 | 1.18 | 1.19 | 1.13 | 1.06 | 0.97 | 0.94 | 0.93 | 1.12 |
| — | +0.5% | -7.9% | +11.1% | +14.3% | +16.2% | +16.1% | +4.5% | +9.1% | +19.4% | +12.7% | +17.4% | +20.9% | +21.9% | +26.7% | +21.6% | -5.3% | -42.9% | -46.2% | -30.0% | -19.6% | |
| Quick Ratio | 1.53 | 1.64 | 1.44 | 1.53 | 1.60 | 1.63 | 1.56 | 1.38 | 1.40 | 1.41 | 1.34 | 1.32 | 1.29 | 1.18 | 1.19 | 1.13 | 1.06 | 0.97 | 0.94 | 0.93 | 1.12 |
| — | +0.5% | -7.9% | +11.1% | +14.3% | +16.2% | +16.1% | +4.5% | +9.1% | +19.4% | +12.7% | +17.4% | +20.9% | +21.9% | +26.7% | +21.6% | -5.3% | -42.9% | -46.2% | -30.0% | -19.6% | |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying HLI stock.
Houlihan Lokey, Inc.'s current P/E is 24.2x. The average P/E over the last 4 quarters is 24.6x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Houlihan Lokey, Inc.'s current operating margin is 23.6%. Margins have been compressing 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.