HOULIHAN LOKEY, INC. (HLI)
Q2-CY2026Q1-CY2026Q4-CY2025Q3-CY2025Q2-CY2025Q1-CY2025Q4-CY2024Q3-CY2024Q2-CY2024Q1-CY2024Q4-CY2023Q3-CY2023Q2-CY2023Q1-CY2023Q4-CY2022Q3-CY2022Q2-CY2022Q1-CY2022Q4-CY2021Q3-CY2021Q2-CY2021Q1-CY2021Q4-CY2020Q3-CY2020Q2-CY2020Q1-CY2020Q4-CY2019Q3-CY2019Q2-CY2019Q1-CY2019Q4-CY2018Q3-CY2018Q2-CY2018Q1-CY2018Q4-CY2017Q3-CY2017Q2-CY2017Q1-CY2017Q4-CY2016Q3-CY2016Q2-CY2016Q1-CY2016Q4-CY2015Q3-CY2015Q2-CY2015Q1-CY2015Q4-CY2014Q3-CY2014Q2-CY2014
Balance Sheet Date2026-Mar-312025-Dec-312025-Sep-302025-Jun-302025-Mar-312024-Dec-312024-Sep-302024-Jun-302024-Mar-312023-Dec-312023-Sep-302023-Jun-302023-Mar-312022-Dec-312022-Sep-302022-Jun-302022-Mar-312021-Dec-312021-Sep-302021-Jun-302021-Mar-312020-Dec-312020-Sep-302020-Jun-302020-Mar-312019-Dec-312019-Sep-302019-Jun-302019-Mar-312018-Dec-312018-Sep-302018-Jun-302018-Mar-312017-Dec-312017-Sep-302017-Jun-302017-Mar-312016-Dec-312016-Sep-302016-Jun-302016-Mar-312015-Dec-312015-Sep-30
Fiscal PeriodQ4-FY2026Q3-FY2026Q2-FY2026Q1-FY2026Q4-FY2025Q3-FY2025Q2-FY2025Q1-FY2025Q4-FY2024Q3-FY2024Q2-FY2024Q1-FY2024Q4-FY2023Q3-FY2023Q2-FY2023Q1-FY2023Q4-FY2022Q3-FY2022Q2-FY2022Q1-FY2022Q4-FY2021Q3-FY2021Q2-FY2021Q1-FY2021Q4-FY2020Q3-FY2020Q2-FY2020Q1-FY2020Q4-FY2019Q3-FY2019Q2-FY2019Q1-FY2019Q4-FY2018Q3-FY2018Q2-FY2018Q1-FY2018Q4-FY2017Q3-FY2017Q2-FY2017Q1-FY2017Q4-FY2016Q3-FY2016Q2-FY2016
Total Revenue635,643,000$717,072,000$659,452,000$605,349,000$666,422,000$634,428,000$574,957,000$513,609,000$520,456,000$511,130,000$466,989,000$415,829,000$444,767,000$456,499,000$489,537,000$418,644,000$471,166,000$888,798,000$537,272,000$372,722,000$500,704,000$537,876,000$275,736,000$211,136,000$302,694,000$333,515,000$272,810,000$250,349,000$291,378,000$298,013,000$274,992,000$220,002,000$291,378,000$298,013,000$274,992,000$220,002,000$244,753,000$258,937,000$242,183,000$217,491,000$0$
QoQ%(11.36%)8.74%8.94%(9.16%)5.04%10.34%11.94%(1.32%)1.83%9.45%12.30%(6.51%)(2.57%)(6.75%)16.93%(11.15%)(46.99%)65.43%44.15%(25.56%)(6.91%)95.07%30.60%(30.25%)(9.24%)22.25%8.97%(14.08%)(2.23%)8.37%25.00%(24.50%)(2.23%)8.37%25.00%(10.11%)(5.48%)6.92%11.35%
YoY%(4.62%)13.03%14.70%17.86%28.05%24.12%23.12%23.51%17.02%11.97%(4.61%)(.67%)(5.60%)(48.64%)(8.89%)12.32%(5.90%)65.24%94.85%76.53%65.42%61.28%1.07%(15.66%)3.88%11.91%(.79%)13.79%.00%.00%.00%.00%19.05%15.09%13.55%1.16%.00%
Cost Of Revenue0$486,360,000$436,613,000$417,595,000$440,386,000$435,327,000$384,994,000$356,397,000$362,979,000$360,260,000$324,380,000$295,714,000$298,861,000$320,145,000$352,011,000$281,349,000$319,948,000$567,815,000$347,638,000$239,271,000$325,546,000$348,689,000$184,927,000$144,920,000$219,099,000$239,466,000$197,594,000$180,663,000$204,997,000$218,194,000$195,069,000$160,139,000$215,596,000$225,748,000$206,212,000$159,229,000$172,113,000$185,344,000$193,752,000$170,680,000$(39,771,000$)
Gross Profit635,643,000$230,712,000$222,839,000$187,754,000$226,036,000$199,101,000$189,963,000$157,212,000$157,477,000$150,870,000$142,609,000$120,115,000$145,906,000$136,354,000$137,526,000$137,295,000$151,218,000$320,983,000$189,634,000$133,451,000$175,158,000$189,187,000$90,809,000$66,216,000$83,595,000$94,049,000$75,216,000$69,686,000$86,381,000$79,819,000$79,923,000$59,863,000$75,782,000$72,265,000$68,780,000$60,773,000$72,640,000$73,593,000$48,431,000$46,811,000$54,302,000$57,055,000$38,002,000$39,771,000$53,803,000$51,808,000$37,319,000$
Gross Margin100.00%32.17%33.79%31.02%33.92%31.38%33.04%30.61%30.26%29.52%30.54%28.89%32.81%29.87%28.09%32.80%32.09%36.11%35.30%35.80%34.98%35.17%32.93%31.36%27.62%28.20%27.57%27.84%29.65%26.78%29.06%27.21%26.01%24.25%25.01%27.62%29.68%28.42%20.00%21.52%
Operating Expenses510,495,000$556,342,000$508,111,000$515,549,000$525,366,000$498,326,000$444,288,000$418,869,000$407,386,000$414,590,000$376,712,000$342,482,000$354,143,000$372,326,000$400,166,000$341,074,000$372,557,000$639,538,000$379,953,000$265,046,000$360,428,000$379,460,000$208,861,000$168,546,000$234,039,000$265,499,000$227,657,000$202,575,000$230,827,000$235,770,000$218,817,000$179,874,000$230,413,000$235,754,000$218,817,000$179,874,000$184,991,000$204,452,000$188,857,000$170,618,000$142,099,000$161,837,000$140,943,000$122,486,000$145,863,000$159,995,000$128,907,000$
Operating Income125,148,000$160,730,000$151,341,000$89,800,000$141,056,000$136,102,000$130,669,000$94,740,000$113,070,000$96,540,000$90,277,000$73,347,000$90,624,000$84,173,000$89,371,000$77,570,000$98,609,000$249,260,000$157,319,000$107,676,000$140,276,000$158,416,000$66,875,000$42,590,000$68,655,000$68,016,000$45,153,000$47,774,000$60,551,000$62,243,000$56,175,000$40,128,000$60,965,000$62,259,000$56,175,000$40,128,000$59,762,000$54,485,000$53,326,000$46,873,000$41,497,000$43,686,000$17,437,000$23,780,000$40,605,000$36,613,000$27,387,000$
Operating Margin19.69%22.42%22.95%14.83%21.17%21.45%22.73%18.45%21.73%18.89%19.33%17.64%20.38%18.44%18.26%18.53%20.93%28.05%29.28%28.89%28.02%29.45%24.25%20.17%22.68%20.39%16.55%19.08%20.78%20.89%20.43%18.24%20.92%20.89%20.43%18.24%24.42%21.04%22.02%21.55%
Interest Income0$148,000$1,269,000$944,000$
Interest Expenses739,000$0$0$0$
Income Before Tax134,514,000$169,648,000$160,053,000$98,050,000$150,255,000$145,118,000$136,088,000$99,874,000$118,039,000$102,575,000$93,573,000$76,352,000$80,302,000$83,610,000$84,267,000$75,821,000$90,688,000$249,007,000$156,466,000$107,777,000$139,803,000$158,603,000$67,071,000$43,751,000$70,914,000$69,055,000$46,254,000$49,425,000$62,473,000$62,931,000$57,182,000$41,734,000$60,814,000$55,117,000$53,526,000$48,379,000$56,567,000$55,739,000$34,228,000$31,953,000$40,833,000$42,592,000$17,104,000$25,101,000$40,971,000$38,059,000$28,479,000$
Tax Expenses36,202,000$53,100,000$48,272,000$517,000$28,335,000$49,816,000$42,539,000$10,934,000$36,962,000$31,772,000$26,542,000$14,962,000$20,642,000$20,559,000$23,537,000$5,039,000$25,515,000$74,699,000$43,583,000$21,817,000$40,437,000$40,088,000$18,281,000$(2,349,000$)11,900,000$20,161,000$13,144,000$6,649,000$0$36,099,000$17,063,000$12,052,000$22,715,000$(6,466,000$)20,169,000$9,135,000$22,491,000$21,759,000$13,352,000$12,542,000$18,053,000$19,931,000$7,849,000$10,030,000$16,186,000$13,874,000$11,867,000$
Net Income98,312,000$116,548,000$111,781,000$97,533,000$121,920,000$95,302,000$93,549,000$88,940,000$81,077,000$70,803,000$67,031,000$61,390,000$59,660,000$63,051,000$60,730,000$70,782,000$65,173,000$174,308,000$112,883,000$85,960,000$99,366,000$118,515,000$48,790,000$46,100,000$59,014,000$48,894,000$33,110,000$42,776,000$45,348,000$43,957,000$40,119,000$29,682,000$38,099,000$61,583,000$33,357,000$39,244,000$34,076,000$33,980,000$20,876,000$19,411,000$22,780,000$22,661,000$9,255,000$15,071,000$24,785,000$24,185,000$16,612,000$
Profit Margin15.47%16.25%16.95%16.11%18.30%15.02%16.27%17.32%15.58%13.85%14.35%14.76%13.41%13.81%12.41%16.91%13.83%19.61%21.01%23.06%19.85%22.03%17.69%21.83%19.50%14.66%12.14%17.09%15.56%14.75%14.59%13.49%13.08%20.67%12.13%17.84%13.92%13.12%8.62%8.93%
TTM16.21%16.91%16.63%16.46%16.73%16.00%15.77%15.30%14.64%14.08%14.08%13.55%14.05%14.15%16.36%18.27%19.31%20.55%21.39%20.90%20.50%20.52%18.06%16.71%15.85%14.82%14.85%15.45%14.67%14.00%15.63%15.01%15.89%16.21%14.08%13.27%11.25%
Earnings to Minority(1,523,000$)0$573,000$1,000$0$0$0$0$0$(52,000$)0$26,000$13,000$25,000$21,000$
Earnings to Common Shareholders99,835,000$116,548,000$111,781,000$97,533,000$121,920,000$95,302,000$93,549,000$88,940,000$81,077,000$70,803,000$67,031,000$61,390,000$59,660,000$63,051,000$60,730,000$70,782,000$65,173,000$173,735,000$112,883,000$85,960,000$99,366,000$118,515,000$48,790,000$46,100,000$59,014,000$48,894,000$33,110,000$42,776,000$45,348,000$43,957,000$40,119,000$29,682,000$38,099,000$61,583,000$33,357,000$39,244,000$34,076,000$33,980,000$20,876,000$19,411,000$22,780,000$22,661,000$9,255,000$15,045,000$24,772,000$24,160,000$16,591,000$
QoQ%(14.34%)4.27%14.61%(20.00%)27.93%1.87%5.18%9.70%14.51%5.63%9.19%2.90%(5.38%)3.82%(14.20%)8.61%(62.49%)53.91%31.32%(13.49%)(16.16%)142.91%5.84%(21.88%)20.70%47.67%(22.60%)(5.67%)3.16%9.57%35.16%(22.09%)(38.13%)84.62%(15.00%)15.17%.28%62.77%7.55%(14.79%).53%144.85%(38.49%)(39.27%)2.53%45.62%
YoY%(18.11%)22.29%19.49%9.66%50.38%34.60%39.56%44.88%35.90%12.30%10.38%(13.27%)(8.46%)(63.71%)(46.20%)(17.66%)(34.41%)46.59%131.37%86.46%68.38%142.39%47.36%7.77%30.14%11.23%(17.47%)44.11%19.03%(28.62%)20.27%(24.37%)11.81%81.23%59.79%102.17%49.59%49.95%125.57%29.02%(8.04%)(6.20%)(44.22%)
Earnings Per Share, Basic1.50$1.75$1.67$1.47$1.84$1.45$1.42$1.37$1.26$1.10$1.04$0.96$0.94$0.99$0.96$1.12$1.02$2.68$1.73$1.31$1.50$1.78$0.73$0.72$0.94$0.79$0.53$0.69$0.74$0.71$0.64$0.47$0.61$0.98$0.54$0.63$0.55$0.56$0.34$0.32$0.38$0.38$0.16$0.26$0.42$0.29$
Earnings Per Share, Diluted1.47$1.70$1.63$1.42$1.77$1.39$1.37$1.30$1.18$1.04$0.99$0.90$0.96$0.90$0.87$1.03$0.97$2.54$1.65$1.25$1.44$1.71$0.70$0.69$0.90$0.75$0.50$0.65$0.69$0.67$0.61$0.45$0.58$0.93$0.50$0.59$0.51$0.51$0.31$0.29$0.35$0.35$0.15$0.25$0.40$0.27$
Unlevered FCF Per Share, Basic4.32$3.26$4.82$(2.19$)5.19$3.97$4.23$(1.16$)3.30$1.32$1.74$(2.34$)3.46$1.22$1.13$(4.46$)0.99$8.43$3.21$(1.39$)4.08$4.57$1.66$(1.86$)2.77$1.53$1.85$(1.89$)2.11$1.21$2.13$(1.91$)1.72$1.16$2.03$(1.03$)1.60$1.78$1.73$(1.24$)0.73$0.35$(1.84$)1.82$
Unlevered FCF Per Share, Diluted4.23$3.17$4.71$(2.10$)4.99$3.81$4.07$(1.10$)3.09$1.26$1.66$(2.19$)3.53$1.11$1.03$(4.10$)0.94$8.01$3.05$(1.33$)3.91$4.38$1.59$(1.78$)2.64$1.45$1.75$(1.78$)1.99$1.14$2.01$(1.81$)1.64$1.09$1.89$(0.97$)1.48$1.63$1.58$(1.13$)0.66$0.31$(1.78$)1.73$
Average Shares, Basic66,349,66966,633,96566,963,26066,244,17866,212,86465,831,12265,822,69065,031,21664,582,72364,411,66864,551,35363,806,15663,352,31163,381,02463,422,70163,277,59664,096,43764,914,37365,156,96865,713,37066,120,31866,547,58766,787,83263,684,43162,449,21462,014,56462,477,08561,670,61761,637,62661,972,02762,258,91962,985,08462,962,73662,552,77762,117,99862,343,58961,596,99461,104,82261,134,50160,565,67159,355,81759,410,79758,989,99458,423,31657,318,64557,307,480
Average Shares, Diluted67,833,93968,426,64468,591,03168,887,97068,948,77068,760,95968,422,60068,501,05968,883,48667,886,30167,867,38168,000,39261,991,08669,725,69269,800,02868,828,24667,474,13768,279,93968,566,12768,718,62968,915,02569,356,34769,615,06066,798,56065,586,72565,608,02666,086,21065,621,10365,425,71665,758,67966,045,92166,154,21265,895,29466,122,93966,907,89066,370,24966,461,90666,692,32666,816,68966,345,59965,336,38765,405,52162,696,73060,464,97460,314,14060,350,814
EBIT134,514,000$169,648,000$160,053,000$98,050,000$150,255,000$145,118,000$136,088,000$99,874,000$118,039,000$102,575,000$93,573,000$76,352,000$80,302,000$83,610,000$84,267,000$75,821,000$90,688,000$249,007,000$156,466,000$107,777,000$139,803,000$158,603,000$67,071,000$43,751,000$70,914,000$69,055,000$46,254,000$49,425,000$62,473,000$62,931,000$57,182,000$41,734,000$60,814,000$55,117,000$53,526,000$48,379,000$56,567,000$55,739,000$34,228,000$31,953,000$40,833,000$43,331,000$17,104,000$25,101,000$40,971,000$38,059,000$28,479,000$
EBITDA142,558,000$177,945,000$170,356,000$114,040,000$165,664,000$154,679,000$143,532,000$108,730,000$126,300,000$109,232,000$100,659,000$82,884,000$86,649,000$96,866,000$103,742,000$94,964,000$110,636,000$269,081,000$160,810,000$111,948,000$143,740,000$162,552,000$70,741,000$47,423,000$75,925,000$73,391,000$50,235,000$53,388,000$66,139,000$66,566,000$60,888,000$45,202,000$62,599,000$57,088,000$55,701,000$50,353,000$58,522,000$58,584,000$36,042,000$34,192,000$43,266,000$45,252,000$18,817,000$26,533,000$42,293,000$39,449,000$29,885,000$