Hamilton Lane employs a conservative capital structure, evidenced by a low debt-to-equity ratio of 0.24 as of 2026Q4, which provides substantial financial flexibility.
| Total Current Assets | 561.34M | 492.49M | 247.13M | 182.72M | 412.81M | 404.22M | 93.19M | 79.25M | 69.84M | 52.15M | 86.62M | 89.14M |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 8.01M | 6.33M | 4.99M | 4.8M | 280.04M | 279.04M | 3.09M | 2.23M | 1.79M | 1.85M | 1.8M | 1.72M |
| Total Non-Current Assets | 1.74B | 1.2B | 1.02B | 957.82M | 882.13M | 732.3M | 380.34M | 281.34M | 223.95M | 188.46M | 110.02M | 112.36M |
| Property, Plant & Equipment | 96.42M | 99M | 95.44M | 90.75M | 94.48M | 87.69M | 16.98M | 8.11M | 4.78M | 4.06M | 4.61M | 5.68M |
| Fixed Asset Turnover | 7.87x | 7.20x | 5.80x | 5.83x | 3.89x | 3.90x | 16.14x | 31.10x | 51.03x | 44.26x | 39.20x | 27.37x |
| Goodwill | 0 | 9.57M | 9.57M | 9.57M | 9.57M | 3.94M | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 2.88M | 4.58M | 6.29M | 12.57M | 7.92M | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 1.3B | 761.05M | 632.27M | 587.97M | 513.83M | 373.62M | 207.75M | 154.49M | 137.25M | 120.15M | 102.75M | 103.36M |
| Other Non-Current Assets | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Assets | 2.3B | 1.69B | 1.27B | 1.14B | 1.29B | 1.14B | 473.53M | 360.59M | 293.8M | 240.62M | 196.64M | 201.5M |
| Asset Turnover | 0.33x | 0.42x | 0.44x | 0.46x | 0.28x | 0.30x | 0.58x | 0.70x | 0.83x | 0.75x | 0.92x | 0.77x |
| Asset Growth % | 36.36% | 32.97% | 11.46% | -11.92% | 13.94% | 140.01% | 31.32% | 22.74% | 22.1% | 22.37% | -2.41% | - |
| Total Current Liabilities | 346.23M | 293.16M | 247.37M | 210.03M | 223.43M | 225.01M | 114.78M | 95.01M | 51.56M | 14.48M | 10.03M | 9.08M |
| Accounts Payable | 5.66M | 5.47M | 4.5M | 4.56M | 2.83M | 2.17M | 1.97M | 2.62M | 1.7M | 1.37M | 641K | 1.67M |
| Days Payables Outstanding | - | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Ratio | 1.62x | 1.68x | 1.00x | 0.87x | 1.85x | 1.80x | 0.81x | 0.83x | 1.35x | 3.60x | 8.64x | 9.82x |
| Quick Ratio | 1.62x | 1.68x | 1.00x | 0.87x | 1.85x | 1.80x | 0.81x | 0.83x | 1.35x | 3.60x | 8.64x | 9.82x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 492.13M | 473.3M | 347.87M | 356.32M | 334.03M | 321.3M | 121.35M | 95.86M | 106.16M | 139.5M | 298.55M | 118.73M |
| Long-Term Debt | 278.42M | 290.3M | 196.16M | 213.53M | 171.33M | 163.18M | 74.52M | 70.95M | 84.16M | 84.31M | 243.32M | 107.72M |
| Capital Lease Obligations | - | - | - | - | - | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | 838.36M | 766.46M | 595.24M | 566.35M | 557.46M | 546.32M | 236.13M | 190.87M | 157.72M | 153.99M | 308.57M | 127.81M |
| Total Debt | 356.48M | 368.32M | 275.19M | 292.35M | 253.57M | 238.46M | 84.71M | 70.95M | 84.16M | 84.31M | 243.32M | 107.72M |
| Net Debt | -7.42M | 91.05M | 160.56M | 180.6M | 181.4M | 151.12M | 34.58M | 21.6M | 36.57M | 52.02M | 174.73M | 40.63M |
| Debt / Equity | 0.24x | 0.40x | 0.41x | 0.51x | 0.34x | 0.40x | 0.36x | 0.42x | 0.62x | 0.97x | - | 1.46x |
| Debt / EBITDA | 1.06x | 1.13x | 1.08x | 1.18x | 1.45x | 1.49x | 0.71x | 0.66x | 0.67x | 1.08x | 3.81x | 1.53x |
| Net Debt / EBITDA | -0.02x | 0.28x | 0.63x | 0.73x | 1.04x | 0.95x | 0.29x | 0.20x | 0.29x | 0.67x | 2.74x | 0.58x |
| Interest Coverage | 31.96x | 28.17x | 26.20x | 29.15x | 68.69x | 62.22x | 50.98x | 43.63x | 24.31x | 6.13x | 5.49x | 13.24x |
| Total Equity | 1.47B | 923.89M | 675.96M | 574.19M | 737.49M | 590.2M | 237.4M | 169.72M | 136.07M | 86.63M | -111.94M | 73.69M |
| Equity Growth % | 58.73% | 36.68% | 17.72% | -22.14% | 24.96% | 148.61% | 39.88% | 24.73% | 57.08% | 177.39% | -251.9% | - |
| Book Value per Share | 26.91 | 19.36 | 12.54 | 10.69 | 13.74 | 17.69 | 8.35 | 6.98 | 7.17 | 4.72 | -6.56 | 4.32 |
| Total Shareholders' Equity | 915.23M | 717.28M | 525.15M | 415.44M | 346.88M | 238.13M | 154.79M | 110.23M | 78.43M | 60.04M | -123.31M | 56.24M |
| Common Stock | 56K | 55K | 55K | 54K | 53K | 53K | 52K | 51K | 48K | 47K | 0 | 56.24M |
| Retained Earnings | 614.69M | 455.51M | 316.7M | 243.82M | 185.15M | 87.51M | 47.09M | 17.69M | 4.55M | 612K | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2.15M | 0 | 0 |
| Accumulated OCI | 1.17M | -141K | 0 | 0 | 0 | 0 | -78K | 7K | 0 | -311K | -823K | 0 |
| Minority Interest | 551.31M | 206.61M | 150.81M | 158.75M | 390.61M | 352.07M | 82.61M | 59.5M | 57.65M | 26.59M | 11.37M | 17.45M |
Episodic performance fee volatility
Based on reported financial statements, Hamilton Lane has demonstrated a consistent upward trajectory in total assets, which grew from $1.2 billion in 2024Q3 to $2.3 billion by 2026Q4, signaling a robust expansion of the firm's underlying business scale and institutional market penetration over the observed period.
The steady accumulation of assets suggests that the firm is successfully scaling its fee-earning mandates, which provides a solid foundation for long-term revenue stability. Investors should monitor whether this growth in assets continues to outpace the firm's liability obligations, as this would further strengthen the overall balance sheet quality.
As reported in recent SEC filings, Hamilton Lane maintains a disciplined capital structure with a debt-to-equity ratio of 0.24 as of 2026Q4, indicating that the firm relies minimally on financial leverage to support its operations and remains well-positioned to navigate potential market volatility without significant refinancing risks.
The firm's low reliance on debt appears to be a strategic choice that preserves operational flexibility, particularly given the episodic nature of performance-based carried interest. This conservative approach to leverage suggests that the company is not overly exposed to interest rate fluctuations, which is a positive indicator for long-term solvency.
According to the provided quarterly data, Hamilton Lane's current ratio stood at 1.62 in 2026Q4, reflecting a healthy liquidity position that provides an adequate buffer against short-term operational shocks and supports the firm's ongoing commitment to shareholder returns through dividends and share repurchases.
While the current ratio has experienced some volatility, the firm's cash position of $363.9 million as of 2026Q4 appears sufficient to cover immediate obligations. This liquidity profile suggests that the firm can comfortably manage its working capital requirements without needing to tap into external financing sources during periods of lower fee realization.
Based on HLNE's reported figures, equity has expanded significantly from $467.9 million in 2024Q3 to $915.2 million in 2026Q4, primarily driven by the consistent accumulation of retained earnings, which rose to $614.7 million, underscoring the firm's ability to generate and reinvest profits into its core business model.
The steady growth in retained earnings indicates that the firm is successfully converting its advisory and management fee income into tangible book value. This trend suggests a high-quality equity base that is less reliant on external capital raises, which may be viewed favorably by long-term institutional investors.
Quick answers to the most common questions about buying HLNE stock.
As of 2026, Hamilton Lane Incorporated (HLNE) had total assets of $2.30B including $561.3M in current assets.
Hamilton Lane Incorporated (HLNE) carries total debt of $356.5M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Hamilton Lane Incorporated (HLNE) has total shareholders' equity (book value) of $915.2M ($26.91 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Hamilton Lane Incorporated (HLNE) reported a current ratio of 1.62x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.