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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
$9.74B
P/E (TTM)
20.8
15.9
Dividend Yield
1.7%
52W High
$211.78
52W Low
$137.80
52W Range
2%
Rank13Top 2.2%
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: 2016-2025

Financial Dashboard

Q3 2026 Data

Revenue

$717.07M+13.03%
4-Quarter Trend

EPS

$1.75+20.69%
4-Quarter Trend

FCF

$217.04M-17.05%
4-Quarter Trend

2026 Q3 Earnings Highlights

Key Highlights

Revenue and Net Income Growth Nine months revenues reached $1.98B, increasing 15%; Net income grew 17% to $325.9M for the period.
Strong Cash Position Growth Total unrestricted cash and investment securities ended period at $1.18B, reflecting 1.4% increase since March 2025.
Corporate Finance Leads Growth CF segment revenue increased 18% to $1.31B for nine months; segment profit rose 24% year-over-year.
Effective Tax Rate Decreased Nine months effective tax rate dropped to 23.8% from 27.1%, driven by deductions and lower state taxes.

Risk Factors

Compensation Ratio Creep Compensation Ratio increased to 64.3% for nine months, driven by 17% rise in compensation expenses.
Foreign Currency Volatility Exposure Foreign currency risk noted; 10% USD depreciation hypothetically increases nine-month OCI by $106M, impacting results.
Transaction Completion Uncertainty Majority of Corporate Finance and FR revenues rely on successful transaction completion, which remains outside control.
New Long-Term Lease Obligation New nine-year office lease signed in November 2025, creating approximately $60M in undiscounted future obligations.

Outlook

Strategic Acquisition Completed Closed transaction acquiring controlling interest in Audere Partners, a prominent French corporate finance firm, February 2026.
Shareholder Return Activity Declared quarterly cash dividend of $0.60 per share payable March 2026; $280.1M remains available for buybacks.
Evaluating Tax Legislation Impact Currently evaluating potential financial impact of recently enacted U.S. legislation, the One Big Beautiful Bill Act (OBBBA).
Software Accounting Early Adoption Early adopted ASU 2025-06 modernizing internal-use software capitalization; adoption had no material impact currently.

Peer Comparison

Revenue (TTM)

ACGL stock ticker logoACGL
$19.93B
+17.7%
ALLY stock ticker logoALLY
$15.20B
-7.2%
FITB stock ticker logoFITB
$12.87B
-1.6%

Gross Margin (Latest Quarter)

HLI stock ticker logoHLI
100.0%
+61.5pp
EVR stock ticker logoEVR
99.3%
-0.1pp
SF stock ticker logoSF
89.0%
+4.3pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
ACGL$33.47B7.719.0%4.1%
FITB$29.52B11.612.0%6.8%
EWBC$14.25B10.815.8%3.9%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
2.5%
Moderate Growth
4Q Net Income CAGR
-1.5%
Stable Profitability
Cash Flow Stability
75%
Volatile Cash Flow

Deep Research

Next earnings:May 5, 2026
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LTM
No Data