Houlihan Lokey, Inc. financials

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SEC pipeline catching up: most recent reported quarter (2026-03-31) isn't incorporated yet — this page is anchored to 2025-12-31 (Q3 2026 · 10-Q). New filings land within a few weekday pipeline runs.
HLI CIK 0001302215

Source: EDGAR filings · Built 2026-06-02T03:12:51Z

Key metrics by reporting period

Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.

Derived Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Free Cash Flow 808.91M 261.73M 85.54M 727.92M 565.69M 266.95M
EBITDA 542.81M 391.40M 399.96M 661.40M 423.38M 246.89M
Net Debt -532.82M -305.82M -339.57M -636.61M -616.47M -189.46M
Gross Margin 32.32% 29.83% 30.79% 35.04% 34.18% 27.82%
Operating Margin 20.99% 18.95% 18.89% 27.00% 26.76% 19.80%
Net Margin 16.73% 14.64% 14.05% 19.28% 20.50% 15.85%
Return on Equity (ROE) 18.38% 15.26% 15.76% 30.32% 22.61% 18.67%
Return on Assets (ROA) 10.46% 8.84% 8.56% 15.16% 12.89% 10.96%
Debt-to-Equity 0.20× 0.23× 0.23× 0.14× 0.17× 0.19×
Effective Tax Rate 24.77% 28.23% 21.54% 27.42% 23.57% 22.00%
Cash Conversion Ratio 2.12× 1.17× 0.54× 1.68× 1.85× 1.57×
Accruals Ratio -0.12× -0.02× 0.04× -0.10× -0.11× -0.06×
SBC % of Revenue 7.05% 8.70% 8.67% 4.05% 4.09% 5.55%
CapEx Coverage 21.38× 4.92× 2.69× 84.86× 40.98× 13.88×
Free Cash Flow Per Share $11.78 $3.84 $1.27 $10.66 $8.24 $4.06

Valuation Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
P/E Trailing (Diluted) 27.75× 31.19× 23.27× 13.70× 14.62× 18.61×
P/FCF 13.71× 33.38× 69.12× 8.23× 8.07× 12.83×
FCF Yield 7.30% 3.00% 1.45% 12.15% 12.39% 7.79%
EV / EBITDA 19.45× 21.54× 13.94× 8.10× 9.33× 13.11×
P/S 4.64× 4.56× 3.27× 2.64× 2.99× 2.95×
P/B 5.10× 4.76× 3.67× 4.15× 3.30× 3.48×

Income Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue from Contract with Customer, Excluding Assessed Tax 2.39B 1.91B 1.81B 2.27B 1.53B 1.16B
Gross Profit 772.31M 571.07M 557.08M 795.29M 521.37M 322.55M
Operating Expenses 1.89B 1.55B 1.47B 1.66B 1.12B 929.77M
Operating Income (Loss) 501.54M 362.86M 341.74M 612.86M 408.16M 229.60M
Income Tax Expense (Benefit) 131.62M 110.24M 69.78M 165.61M 96.46M 51.85M
Net Income (Loss) Attributable to Parent 399.71M 280.30M 254.22M 437.75M 312.77M 183.79M
Earnings Per Share, Basic $6.08 $4.36 $4.01 $6.74 $4.75 $2.96
Weighted Average Number of Shares Outstanding, Basic 65.72M 64.34M 63.36M 64.97M 65.79M 62.15M
Earnings Per Share, Diluted $5.82 $4.11 $3.76 $6.41 $4.55 $2.80
Weighted Average Number of Shares Outstanding, Diluted 68.66M 68.16M 67.59M 68.26M 68.67M 65.73M

Balance Sheet

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash and Cash Equivalents, at Carrying Value 971.01M 721.24M 714.44M 833.70M 846.85M 380.37M
Assets 3.82B 3.17B 2.97B 2.89B 2.43B 1.68B
Long-term Debt — — — — 55.86M 36.70M
Liabilities 1.64B 1.33B 1.36B 1.44B 1.04B 692.62M

Cash Flow Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Net Cash Provided by (Used in) Operating Activities 848.61M 328.46M 136.27M 736.60M 579.84M 287.67M
Payments to Acquire Property, Plant, and Equipment 39.70M 66.73M 50.73M 8.68M 14.15M 20.72M
Net Cash Provided by (Used in) Investing Activities -265.06M -70.41M -3.00M -273.91M -99.75M -33.14M
Payments for Repurchase of Common Stock 52.51M 24.95M 48.66M 304.79M 102.22M 29.64M
Payments of Dividends 165.22M 148.45M 140.38M 114.81M 92.01M 80.66M
Net Cash Provided by (Used in) Financing Activities -329.07M -250.59M -240.46M -459.06M -26.82M -152.14M

Raw XBRL tagging for a single filing

Every us-gaap and custom concept the filer tagged for one fiscal period, grouped by statement. Start here when a number in the trend table above surprises you and you want to see the exact tag behind it. Derived and valuation rows are omitted here because they already appear in the trend table.

Most recent filing shown by default.

Compare filings side-by-side

Diff any two filings with deltas and added / removed tags.

Immaterial rows are USD line items under 1% of the period's revenue — the noise floor below which a single tag rarely moves the investment thesis. Revenue is read from the filer's top-line concept (Revenues / RevenueFromContractWithCustomerExcludingAssessedTax, with a fallback chain). Non-USD rows, rows without a numeric value, and every row on a filing with no identifiable revenue anchor stay visible. Flip the switch off to see every tag the filer reported for the period.

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Methodology

All facts on this page come straight from SEC EDGAR XBRL company-facts filings (HLI CIK 0001302215), grouped by financial statement using FASB's base us-gaap presentation taxonomy. Filers may re-parent concepts onto different statements in their own extension taxonomy, so a handful of rows can show up under a different statement than on the actual 10-K / 10-Q; custom concepts and any we couldn't map fall into Other. Hover a cell to see the fully-qualified concept name and the filer's description.

For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.

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