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MARKETS / NYSE / Financials / Brokerage and capital markets / HLI
NYSE · INVESTMENT ADVICE · LARGE CAP

Houlihan Lokey, Inc. HLI

13 fiscal years on record · USD · FY2025 reported · SEC filings only
$2.6B
▲ 9.5% YoY
$425.7M
▲ 6.5% YoY
$681.8M
▼ 15.7% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Houlihan Lokey, Inc. provides services in mergers and acquisitions, capital markets, financial restructurings, liability management, and financial and valuation advisory. As of March 31, 2026, it had a team of more than 1,900 financial professionals across more than thirty offices globally, serving more than 2,000 clients annually. It serves clients in three business segments: Corporate Finance, encompassing M&A and capital solutions; Financial Restructuring, including restructurings both out-of-court and in formal bankruptcy or insolvency proceedings; and Financial and Valuation Advisory, including financial opinions and valuation and financial consulting services. As of March 31, 2026, it had 251 Corporate Finance Managing Directors providing services across a range of M&A and capital markets transactions. Houlihan Lokey, Inc. was established in 1972.

Written from the business description in HOULIHAN LOKEY, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 22 May 2026. Every sentence was checked against that document before publication.

Growth

USD 2.6B
Revenue, FY2025 · full 13-year series below
Revenue $B Net income $B
FY2025 · Revenue 2.6 · Net income 0.4
1B2B
20132016201920222025
Compound annual growth
+13.1%
+11.4%
+18.7%
+6.4%
+19.8%
+18.3%
+6.5%
+18.9%
+22.7%
+30.6%
+11.8%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +11.4% a year over the five years to FY2025 — but profit grew slower: net income at +6.4%, earnings per share at +6.5%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

16 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 20.1% · Net 16.2%
10%20%
201320192025
ROE
FY2025 · ROE 18.8%
10%20%30%
201320192025
Three returns, three denominators.
Return on capital employedNot available: we don't have total assets or current liabilities for this period.
Gross margin·
Operating margin20.1%
Net margin16.2%
EBITDAUSD 569.7M

Each USD of equity produced 19 cents of profit this year.

Cash & shareholders

USD 349.5M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 681.8
300M600M
201320192025
Net buybacks $M Dividends $M
FY2025 · Dividends 174.0 · Net buybacks 175.4
150M300M-100M-200MDividendsNet buybacks
2013201520172019202120232025
Dividends paidUSD 174.0M
Net buybacksUSD 175.4M
Share of profit82.1%
Consecutive raises·

USD 174.0M in dividends and USD 175.4M in buybacks — 82% of the year's profit went back to shareholders.

Total assetsUSD 4.3B
CashUSD 1.2B

Not available: we don't have the total debt figure for this period.

The 13-year record

13 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
HLI, 13-year financial record
Metric 2025202420232022202120202019201820172016201520142013
Revenue $B2.62.41.91.82.31.51.21.11.00.9◌◌◌
Operating income $B0.50.50.40.30.60.40.20.20.20.20.10.10.1
EBITDA $B0.60.50.40.40.70.40.20.20.20.20.10.10.1
Income tax $B0.10.10.10.10.20.10.10.10.00.10.10.10.0
Net income $B0.40.40.30.30.40.30.20.20.20.10.10.10.1
Free cash flow $B0.70.80.30.10.70.60.30.20.20.20.00.20.2
EPS, diluted $6.225.824.113.766.414.552.802.422.601.631.101.331.05
Dividend / sh $◌◌◌◌◌◌◌◌◌0.300.30◌◌
Payout %4141535526294442305116432
ROE %18.819.916.216.631.026.419.618.221.815.79.510.48.6
Shares out B◌◌◌◌◌◌◌◌◌◌◌0.00◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

Other companies filing in the same sector

UNH · BRK-A · BRK-B · CI · ELV · CNC
Provenance

Company facts, as filed

How we verify · 0 failures in 38 reconciliationsAUDITED

Reconciled in 13 of the 13 fiscal years we could check. Six checks were skipped: the balance sheet is not tagged before 2013. Six checks were skipped: EPS is not tagged before 2013.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityInvestment Advice
Listed onNYSE
Incorporated innot stated in the filings
Fiscal year endsMarch 31
Data on record since2013

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