Houlihan Lokey, Inc. (HLI) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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HLI Revenue Growth
Revenue Breakdown (FY 2025)
HLI's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
HLI Revenue Analysis (2014–2025)
As of May 6, 2026, Houlihan Lokey, Inc. (HLI) generated trailing twelve-month (TTM) revenue of $2.65 billion, reflecting strong growth of +13.0% year-over-year. The most recent quarter (Q3 2026) recorded $717.1 million in revenue, up 8.7% sequentially.
Looking at the longer-term picture, HLI's 5-year compound annual growth rate (CAGR) stands at +15.6%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $2.39 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows HLI's business is primarily driven by Corporate Finance (64%), Financial Restructuring (23%), and Financial Advisory Services (13%). With over half of revenue concentrated in Corporate Finance, the company maintains significant focus in this area while developing other growth vectors.
When compared to Financial Services sector peers including EVR, PJT, and LAZ. Compare HLI vs EVR →
HLI Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| HLICurrent | $2.6B | +13.0% | +15.6% | 21.0% | |
 EVR | $3.9B | - | - | 20.5% | |
 PJT | $1.7B | - | - | 21.2% | |
 LAZ | $3.2B | - | - | 13.0% | |
 MC | $1.5B | - | - | 18.1% | |
 PWP | $751M | - | - | 6.4% |
HLI Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $2.39B | - | $919.9M | 38.5% | $501.5M | 21.0% |
| 2024 | $1.91B | - | $737.0M | 38.5% | $362.9M | 19.0% |
| 2023 | $1.81B | - | $696.6M | 38.5% | $341.7M | 18.9% |
| 2022 | $2.27B | - | $861.3M | 37.9% | $612.9M | 27.0% |
| 2021 | $1.53B | - | $554.3M | 36.3% | $408.2M | 26.8% |
| 2020 | $1.16B | - | $421.6M | 36.4% | $229.6M | 19.8% |
| 2019 | $1.08B | - | $392.3M | 36.2% | $219.1M | 20.2% |
| 2018 | $963.4M | - | $326.7M | 33.9% | $214.4M | 22.3% |
| 2017 | $872.1M | - | $289.8M | 33.2% | $182.0M | 20.9% |
| 2016 | $693.8M | - | $232.2M | 33.5% | $126.4M | 18.2% |
Full HLI Stock Analysis
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Start ComparisonHLI — Frequently Asked Questions
Quick answers to the most common questions about buying HLI stock.
Is HLI's revenue growth accelerating or slowing?
HLI maintains +13.0% revenue growth, in line with its 5-year CAGR of +15.6%. TTM revenue stands at $2.6B. Growth rate remains consistent with historical average.
What is HLI's long-term revenue growth rate?
Houlihan Lokey, Inc.'s 5-year revenue CAGR of +15.6% reflects the sustained expansion pattern. Current YoY growth of +13.0% is near this long-term average.
How is HLI's revenue distributed by segment?
HLI reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.