Houlihan Lokey Inc (HLI)

Name: Houlihan Lokey Inc Financial Statements
Creator: Quarter Results

Financial Services | Financial Capital Markets

Latest reporting period: 2025-12-31

Latest Quarter

2025-12-31

Revenue

$717M

Net Income

$117M

Operating Margin

22.4%

Free Cash Flow

$809M

Debt / Assets

43.1%

Values are in USD and rounded to the nearest whole number unless noted.

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Income statement quarterly history for Houlihan Lokey Inc (HLI).
Income Statement (Quarterly)	2025-12-31	2025-09-30	2025-06-30	2025-03-31
Revenue	717,072,000	659,452,000	605,349,000	666,422,000
Cost of Revenue	0	438,480,000	372,289,000	445,908,000
Gross Profit	717,072,000	220,972,000	233,060,000	220,514,000
Operating Expenses
R&D Expenses	0	0	0	0
SG&A Expenses	441,001,000	10,321,000	47,713,000	11,304,000
Operating Expenses	556,342,000	69,631,000	143,260,000	81,309,000
Operating Income	160,730,000	151,341,000	89,800,000	139,205,000
Interest Expense	0	0	0	0
Income Before Tax	169,648,000	160,053,000	98,050,000	150,255,000
Income Tax Expense	53,100,000	48,272,000	517,000	28,335,000
Net Income	116,548,000	111,781,000	97,533,000	121,920,000
Per Share
EPS	1.75	1.67	1.47	1.84
EPS Diluted	0.00	0.00	0.00	0.00

Income statement annual history for Houlihan Lokey Inc (HLI).
Income Statement (Annual)	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31
Revenue	2,389,416,000	1,914,404,000	1,809,447,000	2,269,958,000	1,525,452,000
Cost of Revenue	1,469,491,000	1,177,355,000	1,147,879,000	1,408,634,000	971,195,000
Gross Profit	919,925,000	737,049,000	696,638,000	861,324,000	554,257,000
Operating Expenses
R&D Expenses	0	0	0	0	0
SG&A Expenses	188,484,000	185,324,000	142,903,000	150,275,000	102,087,000
Operating Expenses	418,381,000	374,188,000	319,830,000	248,460,000	146,100,000
Operating Income	501,544,000	362,861,000	341,738,000	612,864,000	408,157,000
Interest Expense	0	0	2,738,000	9,499,000	0
Income Before Tax	531,335,000	390,539,000	324,000,000	603,938,000	409,228,000
Income Tax Expense	131,624,000	110,238,000	69,777,000	165,614,000	96,457,000
Net Income	399,711,000	280,301,000	254,223,000	437,751,000	312,771,000
Per Share
EPS	6.08	4.36	4.01	6.74	4.75
EPS Diluted	0.00	0.00	0.00	0.00	0.00

Balance sheet quarterly history for Houlihan Lokey Inc (HLI).
Balance Sheet (Quarterly)	2025-03-31	2024-03-31	2023-03-31	2022-03-31
Assets
Cash and Cash Equivalents	971,007,000	721,235,000	714,439,000	833,697,000
Short Term Investments	167,328,000	7,566,000	37,309,000	109,143,000
Net Receivables	415,086,000	424,498,000	314,767,000	248,780,000
Inventory	0	0	1,058,821,000	0
Total Current Assets	1,557,993,000	1,153,918,000	1,029,579,000	1,082,850,000
Property Plant Equipment	512,019,000	480,725,000	422,222,000	224,118,000
Goodwill and Intangibles	1,497,259,000	1,324,936,000	1,291,154,000	1,317,775,000
Total Assets	3,819,708,000	3,170,759,000	2,968,814,000	2,886,810,000
Liabilities
Account Payables	137,228,000	114,171,000	113,421,000	126,190,000
Short Term Debt	0	0	31,617,000	34,693,000
Total Current Liabilities	1,128,458,000	873,341,000	919,993,000	1,169,813,000
Long Term Debt	438,185,000	415,412,000	374,869,000	197,630,000
Total Liabilities	1,644,831,000	1,334,009,000	1,340,517,000	1,443,105,000
Shareholders Equity
Retained Earnings	1,394,738,000	1,163,419,000	1,048,072,000	922,223,000
Total Shareholders Equity	2,174,877,000	1,836,750,000	1,628,297,000	1,443,705,000

Balance sheet annual history for Houlihan Lokey Inc (HLI).
Balance Sheet (Annual)	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31
Assets
Cash and Cash Equivalents	971,007,000	721,235,000	714,439,000	833,697,000	846,851,000
Short Term Investments	167,328,000	7,566,000	37,309,000	109,143,000	0
Net Receivables	415,086,000	424,498,000	314,767,000	248,780,000	226,524,000
Inventory	0	0	1,058,821,000	0	0
Total Current Assets	1,557,993,000	1,153,918,000	1,029,579,000	1,082,850,000	1,073,748,000
Property Plant Equipment	512,019,000	480,725,000	422,222,000	224,118,000	198,401,000
Goodwill and Intangibles	1,497,259,000	1,324,936,000	1,291,154,000	1,317,775,000	0
Total Assets	3,819,708,000	3,170,759,000	2,968,814,000	2,886,810,000	2,426,067,000
Liabilities
Account Payables	137,228,000	114,171,000	113,421,000	126,190,000	67,468,000
Short Term Debt	0	0	31,617,000	34,693,000	0
Total Current Liabilities	1,128,458,000	873,341,000	919,993,000	1,169,813,000	812,074,000
Long Term Debt	438,185,000	415,412,000	374,869,000	197,630,000	818,000
Total Liabilities	1,644,831,000	1,334,009,000	1,340,517,000	1,443,105,000	1,042,506,000
Shareholders Equity
Retained Earnings	1,394,738,000	1,163,419,000	1,048,072,000	922,223,000	600,096,000
Total Shareholders Equity	2,174,877,000	1,836,750,000	1,628,297,000	1,443,705,000	1,383,561,000

Cash flow quarterly history for Houlihan Lokey Inc (HLI).
Cash Flow Statement (Quarterly)	2025-03-31	2024-03-31	2023-03-31	2022-03-31
Operating Activities
Net Income	399,711,000	280,301,000	254,223,000	438,324,000
Depreciation & Amortization	41,270,000	28,536,000	58,221,000	48,537,000
Stock Based Compensation	168,443,000	166,595,000	156,936,000	91,875,000
Change in Working Capital	196,075,000	-196,367,000	-368,510,000	182,378,000
Operating Cash Flow	848,609,000	328,458,000	136,273,000	736,604,000
Investing Activities
Capital Expenditure	-39,699,000	-66,730,000	-50,731,000	-8,680,000
Investments	-39,699,000	-66,730,000	-50,731,000	-8,680,000
Investing Cash Flow	-265,058,000	-70,406,000	-3,004,000	-273,914,000
Financing Activities
Debt Repayment	0	0	-3,027,000	-280,000
Common Stock Issued/Repurchased	-52,514,000	-24,952,000	-48,659,000	-304,793,000
Dividends Paid	-165,217,000	-148,454,000	-140,384,000	-114,806,000
Financing Cash Flow	-329,070,000	-250,585,000	-240,462,000	-459,060,000
Summary
Free Cash Flow	808,910,000	261,728,000	85,542,000	727,924,000
Net Change in Cash	253,725,000	7,042,000	-119,258,000	-13,154,000

Cash flow annual history for Houlihan Lokey Inc (HLI).
Cash Flow Statement (Annual)	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31
Operating Activities
Net Income	399,711,000	280,301,000	254,223,000	438,324,000	312,771,000
Depreciation & Amortization	41,270,000	28,536,000	58,221,000	48,537,000	15,228,000
Stock Based Compensation	168,443,000	166,595,000	156,936,000	91,875,000	62,421,000
Change in Working Capital	196,075,000	-196,367,000	-368,510,000	182,378,000	180,229,000
Operating Cash Flow	848,609,000	328,458,000	136,273,000	736,604,000	579,837,000
Investing Activities
Capital Expenditure	-39,699,000	-66,730,000	-50,731,000	-8,680,000	-14,148,000
Investments	-39,699,000	-66,730,000	-50,731,000	-8,680,000	-14,148,000
Investing Cash Flow	-265,058,000	-70,406,000	-3,004,000	-273,914,000	-99,748,000
Financing Activities
Debt Repayment	0	0	-3,027,000	-280,000	-4,176,000
Common Stock Issued/Repurchased	-52,514,000	-24,952,000	-48,659,000	-304,793,000	86,836,000
Dividends Paid	-165,217,000	-148,454,000	-140,384,000	-114,806,000	-92,006,000
Financing Cash Flow	-329,070,000	-250,585,000	-240,462,000	-459,060,000	-26,823,000
Summary
Free Cash Flow	808,910,000	261,728,000	85,542,000	727,924,000	565,689,000
Net Change in Cash	253,725,000	7,042,000	-119,258,000	-13,154,000	466,478,000