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Houlihan Lokey Inc (HLI) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

FINANCIAL SERVICES · CAPITAL MARKETS · DATA UPDATED 2026-09-19

Houlihan Lokey Inc (HLI) operates in the CAPITAL MARKETS industry and is headquartered in Los Angeles, United States with about 2,800 employees. Its market capitalization is roughly $9 billion. In the fiscal year ended 2026-03-31, HLI reported $2.6B in revenue and $426M in net income.

Houlihan Lokey, Inc., an investment banking company, provides merger and acquisition (M&A), capital market, financial restructurings and liability management, and financial and valuation advisory services worldwide.

Interactive charts & full statements → Open the HLI valuation workbench →

HLI Revenue & Earnings History — Annual Income Statement

Income statementTTM → 2026-06-302026-03-312025-03-312024-03-312023-03-312022-03-312021-03-312020-03-312019-03-312018-03-312017-03-312016-03-312015-03-312014-03-312013-03-31
Total Revenue$2.5B$2.6B$2.4B$1.9B$1.8B$2.3B$1.5B$1.2B$1.1B$963M$872M$694M$681M$592M$520M
Gross Profit$2.6B$920M$737M$697M$861M$554M$422M$392M$327M$290M$232M$206M$178M$520M
Gross Margin %98.4%38.5%38.5%38.5%37.9%36.3%36.4%36.2%33.9%33.2%33.5%30.2%30.0%100.0%
Operating Income (EBIT)$564M$619M$502M$363M$342M$613M$408M$230M$219M$214M$182M$126M$129M$103M$95M
Operating Margin %22.4%23.6%21.0%18.9%18.9%27.0%26.8%19.8%20.2%22.3%20.9%18.2%18.9%17.4%18.3%
Net Income$407M$426M$400M$280M$254M$438M$313M$184M$159M$172M$108M$70M$80M$61M$59M
Net Margin %16.1%16.3%16.7%14.6%14.1%19.3%20.5%15.8%14.7%17.9%12.4%10.1%11.7%10.3%11.3%
EBITDA$605M$598M$428M$435M$661M$423M$247M$234M$222M$191M$134M$134M$109M$5M
Earnings Per Share (EPS)$5.95$6.22$5.82$4.11$3.76$6.41$4.55$2.80$2.42$2.60$1.63$1.10$1.32$1.01$1.00
Shares Outstanding (M)68M69M68M68M68M69M66M66M66M67M63M60M60M59M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

HLI Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-302024-06-30
Total Revenue$511M$636M$717M$659M$605M$666M$634M$575M$514M
Gross Profit$628M$276M$221M$233M$257M$244M$221M$198M
Gross Margin %98.7%38.5%33.5%38.5%38.5%38.5%38.5%38.5%
Operating Income (EBIT)$92M$143M$178M$151M$90M$139M$136M$131M$95M
Operating Margin %18.0%22.5%24.9%22.9%14.8%20.9%21.4%22.7%18.4%
Net Income$78M$100M$117M$112M$98M$122M$95M$94M$89M
Net Margin %15.3%15.7%16.2%17.0%16.1%18.3%15.0%16.3%17.3%
EBITDA$143M$187M$179M$144M$175M$158M$145M$119M
Earnings Per Share (EPS)$1.15$1.47$1.70$1.63$1.42$1.76$1.39$1.37$1.30
Shares Outstanding (M)68M68M69M69M69M69M68M69M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

HLI Free Cash Flow History

Cash flowTTM → 2026-06-302026-03-312025-03-312024-03-312023-03-312022-03-312021-03-312020-03-312019-03-312018-03-312017-03-312016-03-312015-03-312014-03-312013-03-31
Cash from Operations (CFO)$500M$704M$849M$328M$136M$737M$580M$288M$224M$251M$229M$14M$197M$165M$128M
Capital Expenditures (CapEx)$15M$22M$40M$67M$51M$9M$14M$21M$7M$8M$14M$9M$5M$2M$7M
Free Cash Flow (FCF)$485M$682M$809M$262M$86M$728M$566M$267M$218M$243M$215M$4M$192M$163M$122M
FCF Margin %
Dividends Paid$174M$165M$148M$140M$115M$92M$81M$67M$52M$55M$114M$2M$1M$62M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

HLI Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-302024-06-30
Cash from Operations (CFO)($336M)$293M$218M$325M($132M)$358M$266M$289M($65M)
Capital Expenditures (CapEx)$6M$6M$1M$2M$13M$14M$4M$10M$11M
Free Cash Flow (FCF)($342M)$287M$217M$323M($145M)$344M$262M$279M($75M)
FCF Margin %
Dividends Paid$39M$41M$42M$52M$39M$37M$38M$51M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

HLI Balance Sheet History

Balance sheet2026-03-312026-03-312025-03-312024-03-312023-03-312022-03-312021-03-312020-03-312019-03-312018-03-312017-03-312016-03-312015-03-312014-03-312013-03-31
Total Assets$4.3B$4.3B$3.8B$3.2B$3.0B$2.9B$2.4B$1.7B$1.4B$1.4B$1.4B$1.1B$1.2B$1.1B$924M
Cash & Cash Equivalents$1.2B$1.2B$971M$721M$714M$834M$847M$380M$286M$207M$300M$166M$89M$109M$68M
Total Liabilities$1.9B$1.9B$1.6B$1.3B$1.4B$1.4B$1.0B$693M$532M$566M$652M$417M$404M$346M$196M
Total Debt (Short + Long-Term)$0M$0M$64M$785M$54M$35M$30M$52M$36M$22M$37M$153M$10M$2M$0M
Total Shareholders' Equity$2.3B$2.3B$2.2B$1.8B$1.6B$1.4B$1.4B$984M$891M$853M$730M$654M$823M$712M$629M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive HLI viewer.

HLI Metric Deep Dives

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