Houlihan Lokey, Inc. logo

Houlihan Lokey, Inc.

HLI

NYSEFinancial ServicesInvestment - Banking & Investment Services

Previous close

$129.05

+$0.99 · +0.77%

Aug 21, 4:00 PM ET

Pre-market

$129.05

$0.00 · 0.00%

Aug 24, 5:45 AM ET

HLI company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

60

Fair Value

Momentum

33

Weakening

Sentiment

74

Bullish

Risk resilience

59

Elevated Risk

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Company profile

Company website

Houlihan Lokey, Inc. is a prominent global investment banking firm offering a comprehensive suite of financial advisory services. These include expertise in mergers and acquisitions (M&A), capital markets, financial restructuring, and valuation. The company's operations are divided into three core segments: The Corporate Finance division provides broad financial guidance. It assists both public and private entities with strategic buy-side and sell-side transactions and a variety of capital-raising activities, such as leveraged loans, private mezzanine debt, high-yield debt, initial public offerings (IPOs), follow-on offerings, convertibles, equity private placements, and private equity investments. This segment also advises financial sponsors on diverse deal structures and liability management initiatives. The Financial Restructuring segment guides debtors, creditors, and other involved parties through complex recapitalization and deleveraging processes. Its specialized advisory services encompass the design, negotiation, and confirmation of reorganization plans, the structuring and analysis of exchange offers, corporate viability assessments, expert testimony for dispute resolution, and the procurement of debtor-in-possession (DIP) financing. The Financial and Valuation Advisory group specializes in appraising various asset types, including entire businesses, illiquid debt and equity securities, and intellectual property. It delivers critical fairness opinions for M&A and other transactions, as well as solvency opinions for corporate spin-offs and dividend recapitalizations, alongside other financial assessments. This segment further contributes to dispute resolution services. Established in 1972, Houlihan Lokey serves a diverse clientele, including corporations, institutions, and governmental entities. Headquartered in Los Angeles, California, the firm maintains a significant international presence with offices located across the United States, Europe, the Middle East, and the Asia-Pacific region.

Industry
Investment - Banking & Investment Services
Sector
Financial Services
Headquarters
US
CEO
Scott Joseph Adelson
Listed since
Aug 13, 2015
Employees
2,800

Market position

Day range

Current $129.05

52-week range

Current $129.05

Open
$129.3
Previous close
$128.06
Volume
589.33K
0.73× average
Average volume
803.23K
Average daily volume
Market cap
9.02B USD
Beta
0.96
Market reference 1
50-day average
$134.99
-4.40% below average
200-day average
$156.12
-17.34% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
8.86B USD
P/E (TTM)
21.19×
P/B (TTM)
3.81×
P/S (TTM)
3.57×
EV / EBITDA
14.65×
Earnings yield
4.45%
Free cash flow yield
7.13%
Dividend yield
1.94%

Profitability & efficiency

Gross margin
50.79%
Operating margin
21.82%
Net margin
16.10%
Return on equity
18.17%
Return on assets
9.88%
Return on invested capital
15.07%

Financial health

Debt / equity
0.22×
Current ratio
1.53×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends107%73%39%6%Gross margin, FY2022: 37.94%Gross margin, FY2023: 38.50%Gross margin, FY2024: 38.50%Gross margin, FY2025: 38.50%Gross margin, FY2026: 98.37%Operating margin, FY2022: 27.00%Operating margin, FY2023: 18.89%Operating margin, FY2024: 18.95%Operating margin, FY2025: 20.99%Operating margin, FY2026: 23.63%Net margin, FY2022: 19.28%Net margin, FY2023: 14.05%Net margin, FY2024: 14.64%Net margin, FY2025: 16.73%Net margin, FY2026: 16.26%FY2022FY2023FY2024FY2025FY2026
Gross margin FY2022 37.94%. Gross margin FY2023 38.50%. Gross margin FY2024 38.50%. Gross margin FY2025 38.50%. Gross margin FY2026 98.37%. Operating margin FY2022 27.00%. Operating margin FY2023 18.89%. Operating margin FY2024 18.95%. Operating margin FY2025 20.99%. Operating margin FY2026 23.63%. Net margin FY2022 19.28%. Net margin FY2023 14.05%. Net margin FY2024 14.64%. Net margin FY2025 16.73%. Net margin FY2026 16.26%.

Income trends

Revenue

2.62B USD+9.55%

Operating income

618.54M USD+23.33%

Net income

425.7M USD+6.50%
Income trends across reported periods2.85B USD1.91B USD963.21M USD17.89M USDRevenue, FY2022: 2.27B USDRevenue, FY2023: 1.81B USDRevenue, FY2024: 1.91B USDRevenue, FY2025: 2.39B USDRevenue, FY2026: 2.62B USDOperating income, FY2022: 612.86M USDOperating income, FY2023: 341.74M USDOperating income, FY2024: 362.86M USDOperating income, FY2025: 501.54M USDOperating income, FY2026: 618.54M USDNet income, FY2022: 437.75M USDNet income, FY2023: 254.22M USDNet income, FY2024: 280.3M USDNet income, FY2025: 399.71M USDNet income, FY2026: 425.7M USDFY2022FY2023FY2024FY2025FY2026
Revenue FY2022 2.27B USD. Revenue FY2023 1.81B USD. Revenue FY2024 1.91B USD. Revenue FY2025 2.39B USD. Revenue FY2026 2.62B USD. Operating income FY2022 612.86M USD. Operating income FY2023 341.74M USD. Operating income FY2024 362.86M USD. Operating income FY2025 501.54M USD. Operating income FY2026 618.54M USD. Net income FY2022 437.75M USD. Net income FY2023 254.22M USD. Net income FY2024 280.3M USD. Net income FY2025 399.71M USD. Net income FY2026 425.7M USD.
Metric (USD)FY2026FY2025FY2024FY2023FY2022
Revenue2.62B USD2.39B USD1.91B USD1.81B USD2.27B USD
Cost of goods sold42.63M USD1.47B USD1.18B USD1.11B USD1.41B USD
Gross profit2.57B USD919.93M USD737.05M USD696.64M USD861.32M USD
Selling, general, and administrative188.48M USD185.32M USD142.9M USD127.81M USD
Operating expenses1.96B USD418.38M USD374.19M USD354.9M USD248.46M USD
Depreciation and amortization42.63M USD41.27M USD28.54M USD58.22M USD48.54M USD
Operating income618.54M USD501.54M USD362.86M USD341.74M USD612.86M USD
Net income425.7M USD399.71M USD280.3M USD254.22M USD437.75M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
82%
9 beats, 2 misses, 0 met estimates
Average EPS surprise
+6.18%
11 comparable reports
Latest EPS result
1.35
Estimate 1.64 · Miss by 17.68%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates2.231.911.581.26Q1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Jan 28, 2025: actual 1.64, estimate 1.5, surprise +9.33%, Beat. Q2 2025, reported May 7, 2025: actual 1.96, estimate 1.62, surprise +20.99%, Beat. Q3 2025, reported Jul 29, 2025: actual 2.14, estimate 1.68, surprise +27.38%, Beat. Q4 2025, reported Oct 30, 2025: actual 1.84, estimate 1.68, surprise +9.52%, Beat. Q1 2026, reported Jan 28, 2026: actual 1.94, estimate 1.85, surprise +4.86%, Beat. Q2 2026, reported May 6, 2026: actual 1.63, estimate 1.79, surprise -8.94%, Miss. Q3 2026, reported Jul 29, 2026: actual 1.35, estimate 1.64, surprise -17.68%, Miss. Q4 2026, reported Oct 29, 2026: actual —, estimate 1.6, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates745.75M657.94M570.13M482.32MQ1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Jan 28, 2025: actual 634.43M USD, estimate 625.71M USD, surprise +1.39%, Beat. Q2 2025, reported May 7, 2025: actual 666.42M USD, estimate 628.27M USD, surprise +6.07%, Beat. Q3 2025, reported Jul 29, 2025: actual 605.35M USD, estimate 580.04M USD, surprise +4.36%, Beat. Q4 2025, reported Oct 30, 2025: actual 659.45M USD, estimate 651.78M USD, surprise +1.18%, Beat. Q1 2026, reported Jan 28, 2026: actual 717.07M USD, estimate 697.15M USD, surprise +2.86%, Beat. Q2 2026, reported May 6, 2026: actual 635.64M USD, estimate 679.22M USD, surprise -6.42%, Miss. Q3 2026, reported Jul 29, 2026: actual 511M USD, estimate 602.38M USD, surprise -15.17%, Miss. Q4 2026, reported Oct 29, 2026: actual —, estimate 618.62M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$163.6

26.77% upside
Past 12 months12-month forecastHigh $187Average $163.6Low $145

Rating distribution

15 ratings
Strong buy00%
Buy960%
Hold533%
Sell17%
Strong sell00%

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

$2.37

2025 complete year+46.3% since 2021

2026 partial: $1.30

* Partial calendar year in the available dividend history.

Corporate action history

DividendUpcoming

Ex-dividend Sep 1, 2026

$0.70

Quarterly

Record Sep 1, 2026 · Payment Sep 15, 2026

Dividend

Ex-dividend Jun 1, 2026

$0.70

Quarterly

Record Jun 1, 2026 · Payment Jun 15, 2026

Dividend

Ex-dividend Mar 2, 2026

$0.60

Quarterly

Record Mar 2, 2026 · Payment Mar 15, 2026

Dividend

Ex-dividend Dec 1, 2025

$0.60

Quarterly

Record Dec 1, 2025 · Payment Dec 15, 2025

Dividend

Ex-dividend Sep 2, 2025

$0.60

Quarterly

Record Sep 2, 2025 · Payment Sep 15, 2025

Dividend

Ex-dividend Jun 2, 2025

$0.60

Quarterly

Record Jun 2, 2025 · Payment Jun 15, 2025

HLI peers

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