Hamilton Lane Incorporated (HLNE) Financial Ratios
12 years of historical data (2015–2026) · Financial Services · Asset Management
EV/EBITDA
↓
13.62
↓-35% vs avg
5yr avg: 20.86
30Y Low5.1·High24.7
P/FCF
↓
10.05
↓-63% vs avg
5yr avg: 27.11
30Y Low4.3·High55.4
P/B Ratio
↓
3.06
↓-54% vs avg
5yr avg: 6.58
30Y Low3.7·High9.0
ROE
↓
20.8%
-5% vs avg
5yr avg: 21.8%
30Y Low1%·High30%
Debt/EBITDA
↓
1.06
↓-10% vs avg
5yr avg: 1.18
30Y Low0.7·High3.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
HLNE Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Hamilton Lane Incorporated trades at 13.9x earnings, 42% below its 5-year average of 23.8x, sitting at the 0th percentile of its historical range. This is roughly in line with the Financial Services sector median P/E of 13.6x. On a free-cash-flow basis, the stock trades at 10.0x P/FCF, 63% below the 5-year average of 27.1x.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.6B | $5.4B | $7.1B | $6.1B | $4.0B | $4.1B | $3.0B | $1.6B | $1.1B | $707M | $342M |
| Enterprise Value | $4.6B | $5.4B | $7.2B | $6.2B | $4.2B | $4.3B | $3.1B | $1.6B | $1.1B | $744M | $394M |
| P/E Ratio → | 13.89 | 16.79 | 27.48 | 30.56 | 24.58 | 19.42 | 31.52 | 25.85 | 31.58 | 40.91 | 622.33 |
| P/S Ratio | 6.02 | 7.14 | 9.95 | 10.97 | 7.51 | 11.28 | 8.65 | 5.74 | 4.20 | 2.90 | 1.90 |
| P/B Ratio | 3.06 | 3.69 | 7.68 | 8.99 | 6.92 | 5.63 | 5.01 | 6.63 | 6.24 | 5.20 | 3.95 |
| P/FCF | 10.05 | 11.92 | 24.58 | 55.37 | 17.91 | 25.77 | 17.53 | 14.27 | 9.97 | 7.49 | 4.26 |
| P/OCF | 9.92 | 11.77 | 23.59 | 50.29 | 17.53 | 24.47 | 15.70 | 13.52 | 9.49 | 7.31 | 4.19 |
P/E links to full P/E history page with 30-year chart
HLNE EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Hamilton Lane Incorporated's enterprise value stands at 13.6x EBITDA, 35% below its 5-year average of 20.9x. The Financial Services sector median is 11.4x, placing the stock at a 20% premium on an enterprise-value basis.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 7.13 | 10.08 | 11.26 | 7.85 | 11.77 | 9.09 | 5.87 | 4.28 | 3.05 | 2.19 |
| EV / EBITDA | 13.62 | 16.16 | 22.06 | 24.56 | 16.78 | 24.73 | 19.43 | 13.43 | 10.08 | 5.96 | 5.06 |
| EV / EBIT | 14.03 | 11.32 | 19.13 | 21.30 | 16.53 | 13.60 | 19.94 | 11.20 | 8.15 | 5.11 | 4.42 |
| EV / FCF | — | 11.90 | 24.90 | 56.83 | 18.72 | 26.89 | 18.43 | 14.58 | 10.17 | 7.87 | 4.91 |
HLNE Profitability
Margins and return-on-capital ratios measuring operating efficiency
Hamilton Lane Incorporated earns an operating margin of 42.8%, significantly above the Financial Services sector average of 20.3%. Operating margins have compressed from 44.4% to 42.8% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 20.8% indicates solid capital efficiency, compared to the sector median of 9.0%. ROIC of 15.6% represents solid returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.9% | 69.9% | 70.8% | 70.0% | 71.8% | 70.5% | 60.1% | 68.7% | 60.7% | 66.0% | 59.9% |
| Operating Margin | 42.8% | 42.8% | 44.4% | 44.4% | 45.4% | 46.1% | 45.6% | 42.5% | 41.3% | 50.4% | 42.3% |
| Net Profit Margin | 32.8% | 32.8% | 30.5% | 25.4% | 20.6% | 39.7% | 28.7% | 22.2% | 13.3% | 7.1% | 0.3% |
Return on Capital
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 20.8% | 20.8% | 27.2% | 22.5% | 16.6% | 22.0% | 23.7% | 29.9% | 22.0% | 15.6% | 0.7% |
| ROA | 12.5% | 12.5% | 14.7% | 11.7% | 9.0% | 12.0% | 12.2% | 14.6% | 10.3% | 6.5% | 0.3% |
| ROIC | 15.6% | 15.6% | 21.2% | 20.3% | 19.4% | 14.0% | 20.3% | 31.0% | 33.9% | 47.1% | 37.8% |
| ROCE | 19.4% | 19.4% | 26.2% | 25.2% | 24.0% | 17.1% | 24.5% | 37.3% | 41.0% | 52.5% | 36.9% |
HLNE Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Hamilton Lane Incorporated carries a Debt/EBITDA ratio of 1.1x, which is manageable (75% below the sector average of 4.3x). The company holds a net cash position — cash of $364M exceeds total debt of $356M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 32.0x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.24 | 0.24 | 0.40 | 0.41 | 0.51 | 0.34 | 0.40 | 0.36 | 0.42 | 0.62 | 0.97 |
| Debt / EBITDA | 1.06 | 1.06 | 1.13 | 1.08 | 1.18 | 1.45 | 1.49 | 0.71 | 0.66 | 0.67 | 1.08 |
| Net Debt / Equity | — | -0.01 | 0.10 | 0.24 | 0.31 | 0.25 | 0.26 | 0.15 | 0.13 | 0.27 | 0.60 |
| Net Debt / EBITDA | -0.02 | -0.02 | 0.28 | 0.63 | 0.73 | 1.04 | 0.95 | 0.29 | 0.20 | 0.29 | 0.67 |
| Debt / FCF | — | -0.02 | 0.32 | 1.46 | 0.81 | 1.13 | 0.90 | 0.31 | 0.20 | 0.39 | 0.65 |
| Interest Coverage | 31.96 | 31.96 | 28.17 | 26.20 | 29.15 | 68.69 | 62.22 | 50.98 | 43.63 | 24.31 | 6.13 |
Net cash position: cash ($364M) exceeds total debt ($356M)
HLNE Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.62x means Hamilton Lane Incorporated can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.00x to 1.62x over the past 3 years.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.62 | 1.62 | 1.68 | 1.00 | 0.87 | 1.85 | 1.80 | 0.81 | 0.83 | 1.35 | 3.60 |
| Quick Ratio | 1.62 | 1.62 | 1.68 | 1.00 | 0.87 | 1.85 | 1.80 | 0.81 | 0.83 | 1.35 | 3.60 |
| Cash Ratio | 1.05 | 1.05 | 0.95 | 0.46 | 0.53 | 0.32 | 0.39 | 0.44 | 0.52 | 0.92 | 2.23 |
| Asset Turnover | — | 0.33 | 0.42 | 0.44 | 0.46 | 0.28 | 0.30 | 0.58 | 0.70 | 0.83 | 0.75 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
HLNE Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Hamilton Lane Incorporated returns 4.9% to shareholders annually — split between a 3.2% dividend yield and 1.8% buyback yield. A payout ratio of 56.9% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 7.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.2% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 56.9% | 56.9% | 55.1% | 77.6% | 124.5% | 66.7% | 75.5% | 125.7% | 206.5% | 267.9% | 13146.6% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.2% | 6.0% | 3.6% | 3.3% | 4.1% | 5.1% | 3.2% | 3.9% | 3.2% | 2.4% | 0.2% |
| FCF Yield | 10.0% | 8.4% | 4.1% | 1.8% | 5.6% | 3.9% | 5.7% | 7.0% | 10.0% | 13.4% | 23.5% |
| Buyback Yield | 1.8% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 4.9% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $54M | $48M | $54M | $54M | $54M | $33M | $28M | $24M | $19M | $18M |
Peer Comparison
Compare HLNE with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 HLNEYou | $5B | 13.9 | 13.6 | 10.0 | 69.9% | 42.8% | 20.8% | 15.6% | 1.1 |
 BN | $99B | 88.9 | 12.3 | — | 38.8% | 28.6% | 0.8% | 3.7% | 9.7 |
 STEP | $6B | -6.7 | — | 88.5 | 51.0% | -51.3% | -39.2% | -35.3% | — |
 GCMG | $2B | 28.7 | 16.2 | 12.9 | 100.0% | 26.5% | 244.6% | 22.4% | 3.1 |
 ARES | $42B | 66.0 | 27.9 | 27.5 | 74.8% | 27.2% | 6.8% | 6.1% | 7.4 |
 BX | $97B | 31.9 | 14.9 | 55.6 | 86.0% | 51.9% | 14.6% | 16.1% | 1.8 |
 KKR | $86B | 41.5 | 19.8 | 9.1 | 41.8% | 2.4% | 3.3% | 0.3% | 7.7 |
 CG | $16B | 20.6 | 20.1 | 11.9 | 65.9% | 26.2% | 12.1% | 5.2% | 10.4 |
 APO | $79B | 18.9 | 6.4 | 10.6 | 88.5% | 34.4% | 12.2% | 16.0% | 1.2 |
 TPG | $16B | 34.8 | 20.7 | 16.1 | 96.9% | 14.7% | 4.8% | 9.3% | 2.1 |
 BAM | $78B | 30.6 | 27.6 | — | 93.2% | 57.6% | 37.3% | 24.3% | 1.3 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 12 years · Updated daily
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HLNE — Frequently Asked Questions
Quick answers to the most common questions about buying HLNE stock.
What is Hamilton Lane Incorporated's P/E ratio?
Hamilton Lane Incorporated's current P/E ratio is 13.9x. The historical average is 27.6x.
What is Hamilton Lane Incorporated's EV/EBITDA?
Hamilton Lane Incorporated's current EV/EBITDA is 13.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.8x.
What is Hamilton Lane Incorporated's ROE?
Hamilton Lane Incorporated's return on equity (ROE) is 20.8%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 20.1%.
Is HLNE stock overvalued?
Based on historical data, Hamilton Lane Incorporated is trading at a P/E of 13.9x. Compare with industry peers and growth rates for a complete picture.
What is Hamilton Lane Incorporated's dividend yield?
Hamilton Lane Incorporated's current dividend yield is 3.17% with a payout ratio of 56.9%.
What are Hamilton Lane Incorporated's profit margins?
Hamilton Lane Incorporated has 69.9% gross margin and 42.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Hamilton Lane Incorporated have?
Hamilton Lane Incorporated's Debt/EBITDA ratio is 1.1x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.