Houlihan Lokey Inc (HLI)

Name: Houlihan Lokey Inc Financial Statements
Creator: Quarter Results

Financial Services | Financial Capital Markets

Latest reporting period: 2026-03-31

Latest Quarter

2026-03-31

Revenue

$636M

Net Income

$99.8M

Operating Margin

22.5%

Free Cash Flow

$682M

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)	2026-03-31	2025-12-31	2025-09-30	2025-06-30
Revenue	635,643,000	717,072,000	659,452,000	605,349,000
Cost of Revenue	8,044,000	441,001,000	438,480,000	372,289,000
Gross Profit	627,599,000	276,071,000	220,972,000	233,060,000
Operating Expenses
R&D Expenses	0	0	0	0
SG&A Expenses	0	51,620,000	10,321,000	47,713,000
Operating Expenses	484,588,000	97,771,000	69,631,000	143,260,000
Operating Income	143,011,000	178,300,000	151,341,000	89,800,000
Interest Expense	0	0	0	0
Income Before Tax	134,514,000	169,648,000	160,053,000	98,050,000
Income Tax Expense	36,202,000	53,100,000	48,272,000	517,000
Net Income	99,835,000	116,548,000	111,781,000	97,533,000
Per Share
EPS	1.50	1.75	1.67	1.47
EPS Diluted	0.00	0.00	0.00	0.00

Income statement annual history for Houlihan Lokey Inc (HLI).
Income Statement (Annual)	2026-03-31	2025-03-31	2024-03-31	2023-03-31	2022-03-31
Revenue	2,617,516,000	2,389,416,000	1,914,404,000	1,809,447,000	2,269,958,000
Cost of Revenue	42,634,000	1,469,491,000	1,177,355,000	1,147,879,000	1,408,634,000
Gross Profit	2,574,882,000	919,925,000	737,049,000	696,638,000	861,324,000
Operating Expenses
R&D Expenses	0	0	0	0	0
SG&A Expenses	0	188,484,000	185,324,000	142,903,000	150,275,000
Operating Expenses	1,956,347,000	418,381,000	374,188,000	319,830,000	248,460,000
Operating Income	618,535,000	501,544,000	362,861,000	341,738,000	612,864,000
Interest Expense	0	0	0	2,738,000	9,499,000
Income Before Tax	562,265,000	531,335,000	390,539,000	324,000,000	603,938,000
Income Tax Expense	138,091,000	131,624,000	110,238,000	69,777,000	165,614,000
Net Income	425,697,000	399,711,000	280,301,000	254,223,000	437,751,000
Per Share
EPS	6.40	6.08	4.36	4.01	6.74
EPS Diluted	0.00	0.00	0.00	0.00	0.00

Balance sheet quarterly history for Houlihan Lokey Inc (HLI).
Balance Sheet (Quarterly)	2026-03-31	2025-03-31	2024-03-31	2023-03-31
Assets
Cash and Cash Equivalents	1,189,454,000	971,007,000	721,235,000	714,439,000
Short Term Investments	170,271,000	167,328,000	7,566,000	37,309,000
Net Receivables	499,550,000	415,086,000	424,498,000	314,767,000
Inventory	0	0	0	1,058,821,000
Total Current Assets	1,859,275,000	1,557,993,000	1,153,918,000	1,029,579,000
Property Plant Equipment	142,876,000	512,019,000	480,725,000	422,222,000
Goodwill and Intangibles	1,600,059,000	1,497,259,000	1,324,936,000	1,291,154,000
Total Assets	4,308,955,000	3,819,708,000	3,170,759,000	2,968,814,000
Liabilities
Account Payables	135,944,000	137,228,000	114,171,000	113,421,000
Short Term Debt	0	0	0	31,617,000
Total Current Liabilities	1,212,537,000	1,128,458,000	873,341,000	919,993,000
Long Term Debt	492,108,000	438,185,000	415,412,000	374,869,000
Total Liabilities	1,856,024,000	1,644,831,000	1,334,009,000	1,340,517,000
Shareholders Equity
Retained Earnings	1,645,100,000	1,394,738,000	1,163,419,000	1,048,072,000
Total Shareholders Equity	2,342,377,000	2,174,877,000	1,836,750,000	1,628,297,000

Balance sheet annual history for Houlihan Lokey Inc (HLI).
Balance Sheet (Annual)	2026-03-31	2025-03-31	2024-03-31	2023-03-31	2022-03-31
Assets
Cash and Cash Equivalents	1,189,454,000	971,007,000	721,235,000	714,439,000	833,697,000
Short Term Investments	170,271,000	167,328,000	7,566,000	37,309,000	109,143,000
Net Receivables	499,550,000	415,086,000	424,498,000	314,767,000	248,780,000
Inventory	0	0	0	1,058,821,000	0
Total Current Assets	1,859,275,000	1,557,993,000	1,153,918,000	1,029,579,000	1,082,850,000
Property Plant Equipment	142,876,000	512,019,000	480,725,000	422,222,000	224,118,000
Goodwill and Intangibles	1,600,059,000	1,497,259,000	1,324,936,000	1,291,154,000	1,317,775,000
Total Assets	4,308,955,000	3,819,708,000	3,170,759,000	2,968,814,000	2,886,810,000
Liabilities
Account Payables	135,944,000	137,228,000	114,171,000	113,421,000	126,190,000
Short Term Debt	0	0	0	31,617,000	34,693,000
Total Current Liabilities	1,212,537,000	1,128,458,000	873,341,000	919,993,000	1,169,813,000
Long Term Debt	492,108,000	438,185,000	415,412,000	374,869,000	197,630,000
Total Liabilities	1,856,024,000	1,644,831,000	1,334,009,000	1,340,517,000	1,443,105,000
Shareholders Equity
Retained Earnings	1,645,100,000	1,394,738,000	1,163,419,000	1,048,072,000	922,223,000
Total Shareholders Equity	2,342,377,000	2,174,877,000	1,836,750,000	1,628,297,000	1,443,705,000

Cash flow quarterly history for Houlihan Lokey Inc (HLI).
Cash Flow Statement (Quarterly)	2026-03-31	2025-03-31	2024-03-31	2023-03-31
Operating Activities
Net Income	424,174,000	399,711,000	280,301,000	254,223,000
Depreciation & Amortization	42,634,000	41,270,000	28,536,000	58,221,000
Stock Based Compensation	201,304,000	168,443,000	166,595,000	156,936,000
Change in Working Capital	-2,072,000	196,075,000	-196,367,000	-368,510,000
Operating Cash Flow	704,131,000	848,609,000	328,458,000	136,273,000
Investing Activities
Capital Expenditure	-22,312,000	-39,699,000	-66,730,000	-50,731,000
Investments	-22,312,000	-39,699,000	-66,730,000	-50,731,000
Investing Cash Flow	2,176,000	-265,058,000	-70,406,000	-3,004,000
Financing Activities
Debt Repayment	0	0	0	-3,027,000
Common Stock Issued/Repurchased	-175,428,000	-52,514,000	-24,952,000	-48,659,000
Dividends Paid	-174,037,000	-165,217,000	-148,454,000	-140,384,000
Financing Cash Flow	-492,944,000	-329,070,000	-250,585,000	-240,462,000
Summary
Free Cash Flow	681,819,000	808,910,000	261,728,000	85,542,000
Net Change in Cash	218,289,000	253,725,000	7,042,000	-119,258,000

Cash flow annual history for Houlihan Lokey Inc (HLI).
Cash Flow Statement (Annual)	2026-03-31	2025-03-31	2024-03-31	2023-03-31	2022-03-31
Operating Activities
Net Income	424,174,000	399,711,000	280,301,000	254,223,000	438,324,000
Depreciation & Amortization	42,634,000	41,270,000	28,536,000	58,221,000	48,537,000
Stock Based Compensation	201,304,000	168,443,000	166,595,000	156,936,000	91,875,000
Change in Working Capital	-2,072,000	196,075,000	-196,367,000	-368,510,000	182,378,000
Operating Cash Flow	704,131,000	848,609,000	328,458,000	136,273,000	736,604,000
Investing Activities
Capital Expenditure	-22,312,000	-39,699,000	-66,730,000	-50,731,000	-8,680,000
Investments	-22,312,000	-39,699,000	-66,730,000	-50,731,000	-8,680,000
Investing Cash Flow	2,176,000	-265,058,000	-70,406,000	-3,004,000	-273,914,000
Financing Activities
Debt Repayment	0	0	0	-3,027,000	-280,000
Common Stock Issued/Repurchased	-175,428,000	-52,514,000	-24,952,000	-48,659,000	-304,793,000
Dividends Paid	-174,037,000	-165,217,000	-148,454,000	-140,384,000	-114,806,000
Financing Cash Flow	-492,944,000	-329,070,000	-250,585,000	-240,462,000	-459,060,000
Summary
Free Cash Flow	681,819,000	808,910,000	261,728,000	85,542,000	727,924,000
Net Change in Cash	218,289,000	253,725,000	7,042,000	-119,258,000	-13,154,000