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Houlihan Lokey, Inc.

Houlihan Lokey, Inc.

NYSE•HLI
CEO: Mr. Irwin N. Gold J.D.
Sector: Financial Services
Industry: Financial - Capital Markets
Listing Date: 2015-08-13
Houlihan Lokey, Inc., an investment banking company, provides merger and acquisition (M&A), capital market, financial restructuring, and financial and valuation advisory services in the United States and internationally. It 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 on buy-side and sell-side transactions, leveraged loans, private mezzanine debt, high-yield debt, initial public offerings, follow-ons, convertibles, equity private placements, private equity, and liability management transactions, as well as financial sponsors on various 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, including structuring, negotiation, and confirmation of plans of reorganization; structuring and analysis of exchange offers; corporate viability assessment; dispute resolution and expert testimony; and procuring debtor-in-possession financing. The FVA segment offers valuations of various assets, such as companies, illiquid debt and equity securities, and intellectual property; and dispute resolution services. This segment also provides fairness opinions in connection with M&A and other transactions, solvency opinions in connection with corporate spin-offs and dividend recapitalizations, and other types of financial opinions. The company serves corporations, financial sponsors, and government agencies. Houlihan Lokey, Inc. was incorporated in 1972 and is headquartered in Los Angeles, California.
Contact Information
10250 Constellation Boulevard, 5th Floor, Los Angeles, CA, 90067, United States
310-553-8871
hl.com
Market Cap
$12.35B
P/E (TTM)
27.7
18.8
Dividend Yield
1.3%
52W High
$211.78
52W Low
$137.99
52W Range
52%
Rank17Top 2.9%
6.8
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 6.8 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q2 2026 Data

Revenue

$659.45M+14.70%
4-Quarter Trend

EPS

$1.67+17.61%
4-Quarter Trend

FCF

$322.81M+15.82%
4-Quarter Trend

2026 Q2 Earnings Highlights

Key Highlights

Quarterly Revenue Growth Strong Q3 revenues reached $659.5 M, marking a 15% increase driven by Corporate Finance and FVA segments.
Six Month Net Income Rises Six month net income totaled $209.3 M, reflecting a 15% increase over the prior year period results.
Corporate Finance Segment Leads CF segment profit surged 30% to $274.1 M for six months, fueled by strong M&A and capital solutions activity.
Strong Liquidity Position Maintained Total unrestricted cash and investments stood at $1.108 B as of September 30, 2025, showing solid liquidity.

Risk Factors

Financial Restructuring Profit Declines FR segment profit fell 6% for six months due to higher compensation expenses as a percentage of revenues.
Corporate Expenses Significantly Higher Corporate expenses jumped 39% for six months to $169.5 M, driven by compensation and contingent consideration revaluation.
Compensation Ratio Creeping Up Six month compensation ratio rose to 64.5% from 63.5%, indicating increased cost pressure relative to revenue.
Foreign Currency Translation Impact Foreign currency fluctuations resulted in a net loss impact of $(14.1) M to other comprehensive income this quarter.

Outlook

New Indemnification Agreement Signed New form of Indemnification Agreement entered October 30, 2025, replacing prior agreements for directors and officers.
Quarterly Dividend Declared Board declared $0.60 per share quarterly dividend payable December 15, 2025, reflecting capital return focus.
Credit Facility Maturity Extended HLI Line of Credit amended August 19, 2025, extending maturity date to August 19, 2030, maintaining flexibility.
Early Adoption of New ASU Early adoption of ASU 2025-06 for internal-use software accounting was completed as of September 30, 2025.

Peer Comparison

Revenue (TTM)

Ally Financial Inc.ALLY
$15.32B
-7.3%
Fifth Third BancorpFITB
$12.82B
-2.4%
Jefferies Financial Group Inc.JEF
$10.73B
+15.1%

Gross Margin (Latest Quarter)

Stifel Financial Corp.SF
86.8%
+5.3pp
Mr. Cooper Group Inc.COOP
68.6%
+14.8pp
Fifth Third BancorpFITB
63.8%
+6.3pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
FITB$31.50B13.211.7%8.8%
EWBC$15.85B12.615.6%4.1%
ARCC$14.41B11.09.4%0.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
1.3%
Moderate Growth
4Q Net Income CAGR
5.5%
Profitability Improving
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Next earnings:Jan 27, 2026
|
EPS:$1.87
|
Revenue:$696.72M
Reports
All Years
  • Form 10-Q - Q2 2026

    Period End: Sep 30, 2025|Filed: Nov 4, 2025|
    Revenue: $659.45M+14.7%
    |
    EPS: $1.67+17.6%
    Meet
  • Form 10-Q - Q1 2026

    Period End: Jun 30, 2025|Filed: Aug 5, 2025|
    Revenue: $605.35M+17.9%
    |
    EPS: $1.47+7.3%
    Miss
  • Form 10-K - FY 2025

    Period End: Mar 31, 2025|Filed: May 15, 2025|
    Revenue: $2.39B+24.8%
    |
    EPS: $6.08+39.5%
    Beat
  • Form 10-Q - Q3 2025

    Period End: Dec 31, 2024|Filed: Feb 4, 2025|
    Revenue: $634.43M+24.1%
    |
    EPS: $1.45+31.8%
    Miss
  • Form 10-Q - Q2 2025

    Period End: Sep 30, 2024|Filed: Nov 5, 2024|
    Revenue: $574.96M+23.1%
    |
    EPS: $1.42+36.5%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Jun 30, 2024|Filed: Aug 6, 2024|
    Revenue: $513.61M+23.5%
    |
    EPS: $1.37+42.7%
    Beat
  • Form 10-K - FY 2024

    Period End: Mar 31, 2024|Filed: May 21, 2024|
    Revenue: $1.91B+5.8%
    |
    EPS: $4.36+8.7%
    Miss
  • Form 10-Q - Q3 2024

    Period End: Dec 31, 2023|Filed: Feb 8, 2024|
    Revenue: $511.13M+12.0%
    |
    EPS: $1.10+11.1%
    Miss