Symbols / HLI Stock $141.20 +2.00% Houlihan Lokey, Inc.

Financial Services • Capital Markets • United States • NYQ
HLI (Stock) Chart
O: — H: — L: — C: — V: —
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Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Financial Services
Industry Capital Markets
CEO Mr. Scott Joseph Adelson
Exch · Country NYQ · United States
Market Cap 9.75B
Enterprise Value 9.16B
Income 425.70M
Sales 2.62B
FCF (ttm)
Book/sh 33.71
Cash/sh 17.22
Employees 2,800
Insider 10d
IPO Aug 13, 2015
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 38.59%
P/E 22.66
Forward P/E 14.95
PEG
P/S 3.73
P/B 4.19
P/C
EV/EBITDA
EV/Sales 3.50
Quick Ratio 1.35
Current Ratio 1.35
Debt/Eq 20.06
LT Debt/Eq
EPS (ttm) 6.23
EPS next Y 9.44
EPS Growth -16.60%
Revenue Growth -4.60%
EPS Gr Q/Q -18.10%
Rev Gr Q/Q
Earnings (next) 2026-07-28
Earnings (prior) 2026-05-06
ROA 10.44%
ROE 18.33%
ROIC
Gross Margin 94.32%
Oper. Margin 22.50%
Profit Margin 16.26%
Shs Outstand 54.28M
Shs Float 53.09M
Insider Own 0.13%
Instit Own 104.01%
Short Float 3.40%
Short Ratio 2.71
Short Interest 1.84M
52W High 211.78
vs 52W High -33.33%
52W Low 134.41
vs 52W Low 5.05%
Beta 0.95
Impl. Vol. 0.78%
Rel Volume 0.45
Avg Volume 675.33K
Volume 302.35K
Target (mean) $172.50
Tgt Median $169.00
Tgt Low $155.00
Tgt High $200.00
# Analysts 8
Recom Hold
Prev Close $138.43
Price $141.20
Change 2.00%

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. The company operates in three segments: Corporate Finance (CF), Financial Restructuring (FR), and Financial and Valuation Advisory (FVA). The CF segment offers general financial advisory services; and advises public and private institutions, including financial sponsors on buy-side and sell-side M&A transactions, debt and equity financings in both the private and public markets, and other corporate finance transactions. The FR segment advises debtors, creditors, and other parties-in-interest related to recapitalization/deleveraging transactions. This segment also provides a range of advisory services, such as structuring, negotiation, and confirmation of plans of reorganization; structuring and analysis of exchange offers; liability management transactions; corporate viability assessment; dispute resolution and expert testimony; and procuring debtor-in-possession financing. The FVA segment provides valuation services to companies; debt and equity interests comprising illiquid investments; and other assets and liabilities. This segment also offers fairness opinions in connection with mergers and acquisitions and other transactions; solvency opinions in connection with corporate spin-offs and dividend recapitalizations; other types of financial opinions; and diligence, tax, transaction accounting, and other financial advisory services, as well as dispute resolution services. It serves corporations, financial sponsors, and government agencies. Houlihan Lokey, Inc. was incorporated in 1972 and is headquartered in Los Angeles, California.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus Mean price target
2. Current target Latest analyst target
3. DCF / Fair value Fallback: EPS × 15 (assumed fair P/E). No FCF data; use with …
Ratings
Current target
$141.20
Low
$155.00
High
$200.00
Mean
$172.50

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-05-07 main Keefe, Bruyette & Woods Outperform → Outperform $172
2026-04-09 main Morgan Stanley Overweight → Overweight $193
2026-04-01 main Goldman Sachs Buy → Buy $184
2026-03-12 main UBS Neutral → Neutral $163
2026-03-12 main Goldman Sachs Buy → Buy $210
2026-01-29 main BMO Capital Outperform → Outperform $211
2026-01-29 main Keefe, Bruyette & Woods Outperform → Outperform $214
2026-01-08 main Keefe, Bruyette & Woods Outperform → Outperform $218
2026-01-06 main Morgan Stanley Overweight → Overweight $215
2025-12-17 main Keefe, Bruyette & Woods Outperform → Outperform $228
2025-10-13 main Keefe, Bruyette & Woods Outperform → Outperform $226
2025-10-09 init Deutsche Bank — → Hold $210
2025-10-03 init BMO Capital — → Outperform $230
2025-09-08 main Morgan Stanley Overweight → Overweight $213
2025-07-14 up Keefe, Bruyette & Woods Market Perform → Outperform $232
2025-07-11 main Wells Fargo Overweight → Overweight $209
2025-06-23 main Morgan Stanley Overweight → Overweight $192
2025-05-12 main Keefe, Bruyette & Woods Market Perform → Market Perform $185
2025-05-08 main Wells Fargo Overweight → Overweight $185
2025-04-08 main Wells Fargo Overweight → Overweight $170
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-05-21 BEISER SCOTT L. Chairman of the Board 6,265 $150.26 $941,379
2026-05-21 BEISER SCOTT L. Chairman of the Board 6,265
2026-05-21 SCHRIESHEIM ROBERT A Director 1,129 $0.00 $0
2026-05-21 ZUBER PAUL ANDREW Director 797 $0.00 $0
2026-05-21 ZUCKER GILLIAN BETH Director 996 $0.00 $0
2026-05-21 WALKER CYRUS D Director 996 $0.00 $0
2026-05-21 BASSEY EKPEDEME M. Director 797 $0.00 $0
2026-05-21 MUND RONALD SCOTT Director 476 $0.00 $0
2026-04-01 CRAIN CHRISTOPHER MADISON General Counsel 500 $143.40 $71,700
2026-04-01 CRAIN CHRISTOPHER MADISON General Counsel 500
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2026-03-31 2025-03-31 2024-03-31 2023-03-31
Total Revenue
2,617.52
+9.55%
2,389.42
+24.81%
1,914.40
+5.80%
1,809.45
Operating Revenue
2,617.52
+9.55%
2,389.42
+24.81%
1,914.40
+5.80%
1,809.45
Cost Of Revenue
1,609.77
+9.55%
1,469.49
+24.81%
1,177.36
+5.80%
1,112.81
Reconciled Cost Of Revenue
1,609.77
+9.55%
1,469.49
+24.81%
1,177.36
+5.80%
1,112.81
Gross Profit
1,007.75
+9.55%
919.92
+24.81%
737.05
+5.80%
696.64
Operating Expense
389.21
+7.04%
363.60
+7.59%
337.95
+5.67%
319.83
Selling General And Administration
201.12
+6.71%
188.48
+1.71%
185.32
+29.69%
142.90
General And Administrative Expense
201.12
+6.71%
188.48
+1.71%
185.32
+29.69%
142.90
Other Gand A
121.31
+9.68%
110.60
+1.24%
109.25
+25.48%
87.06
Other Operating Expenses
145.45
+8.67%
133.85
+7.86%
124.09
+4.54%
118.71
Total Expenses
1,998.98
+9.05%
1,833.10
+20.97%
1,515.31
+5.77%
1,432.64
Operating Income
618.53
+11.18%
556.32
+39.40%
399.10
+5.91%
376.81
Total Operating Income As Reported
527.02
+4.87%
502.57
+34.65%
373.23
+9.22%
341.74
EBITDA
661.17
+10.64%
597.59
+39.74%
427.63
-1.70%
435.03
Normalized EBITDA
752.68
+15.56%
651.35
+43.63%
453.49
-3.53%
470.10
Reconciled Depreciation
42.63
+3.31%
41.27
+44.62%
28.54
-50.99%
58.22
EBIT
618.53
+11.18%
556.32
+39.40%
399.10
+5.91%
376.81
Total Unusual Items
-91.52
-70.25%
-53.75
-107.86%
-25.86
+26.26%
-35.07
Total Unusual Items Excluding Goodwill
-91.52
-70.25%
-53.75
-107.86%
-25.86
+26.26%
-35.07
Special Income Charges
-91.52
-70.25%
-53.75
-107.86%
-25.86
+26.26%
-35.07
Restructuring And Mergern Acquisition
91.52
+70.25%
53.75
+107.86%
25.86
-26.26%
35.07
Net Income
425.70
+6.50%
399.71
+42.60%
280.30
+10.26%
254.22
Pretax Income
562.26
+5.82%
531.34
+36.05%
390.54
+20.54%
324.00
Other Income Expense
-56.27
-125.21%
-24.99
-192.03%
-8.56
+83.80%
-52.81
Other Non Operating Income Expenses
35.25
+22.52%
28.77
+66.24%
17.30
+197.56%
-17.74
Tax Provision
138.09
+4.91%
131.62
+19.40%
110.24
+57.99%
69.78
Tax Rate For Calcs
0.00
-0.86%
0.00
-12.15%
0.00
+31.16%
0.00
Tax Effect Of Unusual Items
-22.48
-68.79%
-13.32
-82.59%
-7.29
+3.28%
-7.54
Net Income Including Noncontrolling Interests
424.17
+6.12%
399.71
+42.60%
280.30
+10.26%
254.22
Net Income From Continuing Operation Net Minority Interest
425.70
+6.50%
399.71
+42.60%
280.30
+10.26%
254.22
Net Income From Continuing And Discontinued Operation
425.70
+6.50%
399.71
+42.60%
280.30
+10.26%
254.22
Net Income Continuous Operations
424.17
+6.12%
399.71
+42.60%
280.30
+10.26%
254.22
Minority Interests
1.52
0.00
0.00
0.00
Normalized Income
494.74
+12.40%
440.15
+47.27%
298.87
+6.07%
281.75
Net Income Common Stockholders
425.70
+6.50%
399.71
+42.60%
280.30
+10.26%
254.22
Diluted EPS
6.22
+6.87%
5.82
+41.61%
4.11
+3.27%
3.98
Basic EPS
6.40
+5.26%
6.08
+39.45%
4.36
+2.59%
4.25
Basic Average Shares
66.55
+1.25%
65.72
+2.16%
64.34
+1.55%
63.36
Diluted Average Shares
68.43
-0.33%
68.66
+0.73%
68.16
+0.85%
67.59
Diluted NI Availto Com Stockholders
425.70
+6.50%
399.71
+42.60%
280.30
+10.26%
254.22
Depreciation Amortization Depletion Income Statement
42.63
+3.31%
41.27
+44.62%
28.54
-50.99%
58.22
Depreciation And Amortization In Income Statement
42.63
+3.31%
41.27
+44.62%
28.54
-50.99%
58.22
Rent And Landing Fees
79.81
+2.48%
77.88
+2.37%
76.08
+36.25%
55.84
Rent Expense Supplemental
79.81
+2.48%
77.88
+2.37%
76.08
+36.25%
55.84
Line Item Trend 2026-03-31 2025-03-31 2024-03-31 2023-03-31
Total Assets
4,308.95
+12.81%
3,819.71
+20.47%
3,170.76
+6.80%
2,968.81
Current Assets
1,815.75
+16.89%
1,553.42
+34.62%
1,153.92
+11.40%
1,035.83
Cash Cash Equivalents And Short Term Investments
1,316.20
+15.63%
1,138.34
+56.19%
728.80
+1.13%
720.69
Cash And Cash Equivalents
1,189.45
+22.50%
971.01
+34.63%
721.24
+0.95%
714.44
Other Short Term Investments
126.75
-24.25%
167.33
+2111.58%
7.57
+20.98%
6.25
Receivables
499.55
+20.35%
415.09
-2.22%
424.50
+34.86%
314.77
Accounts Receivable
228.31
-11.28%
257.33
+28.90%
199.63
+9.67%
182.03
Gross Accounts Receivable
241.10
-11.09%
271.17
+30.12%
208.40
+9.22%
190.80
Allowance For Doubtful Accounts Receivable
-12.79
+7.61%
-13.84
-57.90%
-8.77
+0.07%
-8.77
Other Receivables
271.24
+71.93%
157.76
-17.84%
192.01
+66.90%
115.05
Taxes Receivable
0.00
-100.00%
32.86
+85.70%
17.69
Restricted Cash
4.57
+638.61%
0.62
+65.95%
0.37
Total Non Current Assets
2,493.20
+10.01%
2,266.29
+12.37%
2,016.84
+4.34%
1,932.98
Net PPE
550.33
+7.48%
512.02
+6.51%
480.73
+13.86%
422.22
Gross PPE
649.42
+9.60%
592.55
+7.93%
549.03
+12.00%
490.22
Accumulated Depreciation
-99.09
-23.05%
-80.53
-17.90%
-68.31
-0.46%
-67.99
Properties
0.00
0.00
0.00
0.00
Machinery Furniture Equipment
58.00
+12.80%
51.42
+22.57%
41.95
+32.79%
31.59
Other Properties
426.34
+11.85%
381.17
+5.27%
362.08
+3.02%
351.47
Leases
165.08
+3.20%
159.96
+10.32%
145.00
+35.31%
107.16
Goodwill And Other Intangible Assets
1,600.06
+6.87%
1,497.26
+13.01%
1,324.94
+2.62%
1,291.15
Goodwill
1,395.86
+8.66%
1,284.59
+13.93%
1,127.50
+3.65%
1,087.78
Other Intangible Assets
204.20
-3.98%
212.67
+7.71%
197.44
-2.92%
203.37
Investments And Advances
43.52
+53.79%
28.30
-7.04%
30.44
-1.98%
31.05
Non Current Deferred Assets
92.78
+3.01%
90.06
-14.18%
104.94
Non Current Deferred Taxes Assets
92.78
+3.01%
90.06
-14.18%
104.94
Other Non Current Assets
299.29
+30.86%
228.71
+152.23%
90.68
+8.45%
83.61
Total Liabilities Net Minority Interest
1,856.02
+12.84%
1,644.83
+23.30%
1,334.01
-1.59%
1,355.52
Current Liabilities
1,212.54
+12.92%
1,073.85
+22.96%
873.34
-5.07%
919.99
Payables And Accrued Expenses
1,212.54
+12.92%
1,073.85
+27.81%
840.20
-4.45%
879.30
Payables
135.94
-0.94%
137.23
+20.20%
114.17
+0.66%
113.42
Accounts Payable
135.94
-0.94%
137.23
+20.20%
114.17
+0.66%
113.42
Current Accrued Expenses
1,076.59
+14.94%
936.62
+29.01%
726.03
-5.20%
765.88
Total Tax Payable
6.40
0.00
0.00
Income Tax Payable
6.40
0.00
0.00
Current Deferred Liabilities
48.22
+45.49%
33.14
-18.57%
40.70
Current Deferred Revenue
48.22
+45.49%
33.14
-18.57%
40.70
Total Non Current Liabilities Net Minority Interest
643.49
+12.70%
570.98
+23.95%
460.67
+5.77%
435.52
Long Term Debt And Capital Lease Obligation
492.11
+12.31%
438.19
+5.48%
415.41
+10.82%
374.87
Long Term Debt
Long Term Capital Lease Obligation
492.11
+12.31%
438.19
+5.48%
415.41
+10.82%
374.87
Non Current Deferred Liabilities
8.78
+17.04%
7.50
+1279.60%
0.54
Non Current Deferred Taxes Liabilities
8.78
+17.04%
7.50
+1279.60%
0.54
Other Non Current Liabilities
151.38
+13.99%
132.80
+251.78%
37.75
-37.20%
60.11
Stockholders Equity
2,342.38
+7.70%
2,174.88
+18.41%
1,836.75
+13.85%
1,613.30
Common Stock Equity
2,342.38
+7.70%
2,174.88
+18.41%
1,836.75
+13.85%
1,613.30
Capital Stock
0.07
-1.43%
0.07
+1.45%
0.07
+0.00%
0.07
Common Stock
0.07
-1.43%
0.07
+1.45%
0.07
+0.00%
0.07
Share Issued
69.49
-0.51%
69.84
+1.08%
69.10
+0.59%
68.69
Ordinary Shares Number
69.49
-0.51%
69.84
+1.08%
69.10
+0.59%
68.69
Additional Paid In Capital
746.12
-11.53%
843.35
+13.99%
739.87
+15.07%
642.97
Retained Earnings
1,645.10
+17.95%
1,394.74
+19.88%
1,163.42
+12.62%
1,033.07
Gains Losses Not Affecting Retained Earnings
-48.91
+22.71%
-63.28
+4.99%
-66.61
-6.04%
-62.81
Minority Interest
110.55
0.00
Other Equity Adjustments
-48.91
+22.71%
-63.28
+4.99%
-66.61
-6.04%
-62.81
Total Equity Gross Minority Interest
2,452.93
+12.78%
2,174.88
+18.41%
1,836.75
+13.85%
1,613.30
Total Capitalization
2,342.38
+7.70%
2,174.88
+18.41%
1,836.75
+13.85%
1,613.30
Working Capital
603.22
+25.78%
479.57
+70.92%
280.58
+142.21%
115.84
Invested Capital
2,342.38
+7.70%
2,174.88
+18.41%
1,836.75
+13.85%
1,613.30
Total Debt
492.11
+12.31%
438.19
+5.48%
415.41
+10.82%
374.87
Capital Lease Obligations
492.11
+12.31%
438.19
+5.48%
415.41
+10.82%
374.87
Net Tangible Assets
742.32
+9.55%
677.62
+32.40%
511.81
+58.88%
322.14
Tangible Book Value
742.32
+9.55%
677.62
+32.40%
511.81
+58.88%
322.14
Held To Maturity Securities
43.52
+53.79%
28.30
-7.04%
30.44
-1.98%
31.05
Investmentin Financial Assets
43.52
+53.79%
28.30
-7.04%
30.44
-1.98%
31.05
Line Item Trend 2026-03-31 2025-03-31 2024-03-31 2023-03-31
Operating Cash Flow
704.13
-17.03%
848.61
+158.36%
328.46
+141.03%
136.27
Cash Flow From Continuing Operating Activities
704.13
-17.03%
848.61
+158.36%
328.46
+141.03%
136.27
Net Income From Continuing Operations
424.17
+6.12%
399.71
+42.60%
280.30
+10.26%
254.22
Depreciation Amortization Depletion
42.63
+3.31%
41.27
+44.62%
28.54
-50.99%
58.22
Depreciation
27.55
+25.58%
21.94
+23.39%
17.78
+34.20%
13.25
Amortization Cash Flow
15.08
-21.98%
19.33
+79.73%
10.75
-76.09%
44.97
Depreciation And Amortization
42.63
+3.31%
41.27
+44.62%
28.54
-50.99%
58.22
Amortization Of Intangibles
15.08
-21.98%
19.33
+79.73%
10.75
-76.09%
44.97
Other Non Cash Items
57.22
+57.82%
36.26
+60.89%
22.54
-21.59%
28.74
Stock Based Compensation
201.30
+19.51%
168.44
+1.11%
166.59
+6.15%
156.94
Provisionand Write Offof Assets
7.66
-17.29%
9.26
+27.48%
7.26
+12.99%
6.43
Deferred Tax
-25.12
-2524.45%
-0.96
-104.68%
20.47
+694.02%
-3.45
Deferred Income Tax
-25.12
-2524.45%
-0.96
-104.68%
20.47
+694.02%
-3.45
Unrealized Gain Loss On Investment Securities
-1.67
-15.46%
-1.45
-65.41%
-0.88
-123.80%
3.68
Change In Working Capital
-2.07
-101.06%
196.07
+199.85%
-196.37
+46.71%
-368.51
Change In Receivables
-82.52
-276.30%
-21.93
+78.35%
-101.31
-105.33%
-49.34
Changes In Account Receivables
32.63
+158.59%
-55.70
-133.75%
-23.83
+36.87%
-37.74
Change In Payables And Accrued Expense
100.32
-52.67%
211.96
+390.29%
-73.02
+76.07%
-305.16
Change In Accrued Expense
128.22
-39.02%
210.25
+597.42%
-42.27
+77.70%
-189.53
Change In Payable
-27.90
-1732.42%
1.71
+105.56%
-30.75
+73.41%
-115.62
Change In Account Payable
-27.90
-1732.42%
1.71
+105.56%
-30.75
+3.95%
-32.01
Change In Other Working Capital
15.08
+299.52%
-7.56
-163.27%
11.94
Change In Other Current Assets
-19.88
-429.07%
6.04
+127.40%
-22.05
+15.07%
-25.96
Investing Cash Flow
2.18
+100.82%
-265.06
-276.47%
-70.41
-2243.74%
-3.00
Cash Flow From Continuing Investing Activities
2.18
+100.82%
-265.06
-276.47%
-70.41
-2243.74%
-3.00
Net PPE Purchase And Sale
-22.31
+43.80%
-39.70
+40.51%
-66.73
-31.54%
-50.73
Purchase Of PPE
-22.31
+43.80%
-39.70
+40.51%
-66.73
-31.54%
-50.73
Capital Expenditure
-22.31
+43.80%
-39.70
+40.51%
-66.73
-31.54%
-50.73
Net Investment Purchase And Sale
27.03
+117.31%
-156.17
-86861.67%
0.18
-99.74%
68.15
Purchase Of Investment
-263.30
-5.12%
-250.48
-2120.93%
-11.28
+41.35%
-19.23
Sale Of Investment
290.33
+207.86%
94.31
+723.05%
11.46
-86.89%
87.38
Net Business Purchase And Sale
-2.54
+96.33%
-69.19
-1694.29%
-3.86
+81.12%
-20.43
Purchase Of Business
-2.54
+96.33%
-69.19
-1694.29%
-3.86
+81.12%
-20.43
Financing Cash Flow
-492.94
-49.80%
-329.07
-31.32%
-250.59
-4.21%
-240.46
Cash Flow From Continuing Financing Activities
-492.94
-49.80%
-329.07
-31.32%
-250.59
-4.21%
-240.46
Net Issuance Payments Of Debt
0.00
0.00
+100.00%
-3.03
Repayment Of Debt
0.00
0.00
+100.00%
-3.03
Long Term Debt Payments
0.00
0.00
+100.00%
-3.03
Net Long Term Debt Issuance
0.00
0.00
+100.00%
-3.03
Net Common Stock Issuance
-175.43
-234.06%
-52.51
-110.46%
-24.95
+48.72%
-48.66
Common Stock Payments
-175.43
-234.06%
-52.51
-110.46%
-24.95
+48.72%
-48.66
Common Stock Dividend Paid
-174.04
-5.34%
-165.22
-11.29%
-148.45
-5.75%
-140.38
Cash Dividends Paid
-174.04
-5.34%
-165.22
-11.29%
-148.45
-5.75%
-140.38
Repurchase Of Capital Stock
-175.43
-234.06%
-52.51
-110.46%
-24.95
+48.72%
-48.66
Net Other Financing Charges
-143.48
-28.87%
-111.34
-44.26%
-77.18
-59.49%
-48.39
Changes In Cash
213.36
-16.16%
254.48
+3308.08%
7.47
+106.97%
-107.19
Effect Of Exchange Rate Changes
4.93
+751.59%
-0.76
-77.88%
-0.42
+96.48%
-12.06
Beginning Cash Position
975.58
+35.15%
721.85
+0.99%
714.81
-14.30%
834.07
End Cash Position
1,193.87
+22.38%
975.58
+35.15%
721.85
+0.99%
714.81
Free Cash Flow
681.82
-15.71%
808.91
+209.07%
261.73
+205.96%
85.54
Interest Paid Supplemental Data
1.36
+135.41%
0.58
-90.19%
5.90
Income Tax Paid Supplemental Data
187.25
+100.67%
93.31
-11.18%
105.06
-32.99%
156.79
Change In Income Tax Payable
39.23
+356.62%
-15.29
+81.71%
-83.61
Change In Tax Payable
39.23
+356.62%
-15.29
+81.71%
-83.61
Common Stock Issuance
0.00
Issuance Of Capital Stock
0.00
SEC Filings

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