HLI Stock - Houlihan Lokey, Inc.
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Financial Statements
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $2.39B | $1.91B | $1.81B | $2.27B | $1.53B |
| Gross Profit | $919.92M | $737.05M | $696.64M | $861.32M | $554.26M |
| Gross Margin | 38.5% | 38.5% | 38.5% | 37.9% | 36.3% |
| Operating Income | $501.54M | $362.86M | $341.74M | $612.86M | $408.16M |
| Net Income | $399.71M | $280.30M | $254.22M | $437.75M | $312.77M |
| Net Margin | 16.7% | 14.6% | 14.0% | 19.3% | 20.5% |
| EPS | $6.08 | $4.36 | $4.01 | $6.74 | $4.75 |
Houlihan Lokey, Inc., an investment banking company, provides merger and acquisition (M&A), capital market, financial restructuring, and financial and valuation advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory. The Corporate Finance 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 advise financial sponsors on various transactions. The Financial Restructuring segment advises debtors, creditors, and other parties-in-interest related to recapitalization/deleveraging transactions. It 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 Financial and Valuation Advisory segment offers valuations of various assets, such as companies, illiquid debt and equity securities, and intellectual property. It also provides fairness opinions in connection with M&A and other transactions, and solvency opinions in connection with corporate spin-offs and dividend recapitalizations; and other types of financial opinions. In addition, this segment offers dispute resolution services. It serves corporations, institutions, and governments. The company was incorporated in 1972 and is headquartered in Los Angeles, California with offices in the United States, Europe, the Middle East, and the Asia-Pacific region.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| December 11th 2025 | UBS | Resumed | Neutral | $193 |
| October 9th 2025 | Deutsche Bank | Initiation | Hold | $210 |
| October 3rd 2025 | BMO Capital Markets | Initiation | Outperform | $230 |
| March 13th 2025 | Morgan Stanley | Upgrade | Overweight | $190← $201 |
| March 11th 2025 | Wells Fargo | Upgrade | Overweight | $179← $180 |
| December 9th 2024 | Morgan Stanley | Downgrade | Underweight | $200← $171 |
| September 12th 2024 | Wells Fargo | Initiation | Underweight | $149 |
| January 29th 2024 | Keefe Bruyette | Resumed | Market Perform | - |
| July 18th 2022 | Morgan Stanley | Upgrade | Equal Weight | $82← $95 |
| April 7th 2022 | Piper Sandler | Downgrade | Underweight | $76← $92 |
Earnings History & Surprises
HLIEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | May 5, 2026 | — | — | — | — |
Q1 2026 | Jan 27, 2026 | $1.87 | — | — | — |
Q4 2025 | Oct 30, 2025 | $1.69 | $1.84 | +8.9% | ✓ BEAT |
Q3 2025 | Jul 29, 2025 | $1.68 | $2.14 | +27.4% | ✓ BEAT |
Q2 2025 | May 7, 2025 | $1.62 | $1.96 | +21.0% | ✓ BEAT |
Q1 2025 | Jan 28, 2025 | $1.50 | $1.64 | +9.3% | ✓ BEAT |
Q4 2024 | Oct 30, 2024 | $1.31 | $1.46 | +11.5% | ✓ BEAT |
Q3 2024 | Jul 30, 2024 | $1.21 | $1.22 | +0.8% | ✓ BEAT |
Q2 2024 | May 8, 2024 | $1.23 | $1.27 | +3.3% | ✓ BEAT |
Q1 2024 | Feb 1, 2024 | $1.14 | $1.22 | +7.0% | ✓ BEAT |
Q4 2023 | Oct 26, 2023 | $1.03 | $1.11 | +7.8% | ✓ BEAT |
Q3 2023 | Jul 27, 2023 | $1.01 | $0.89 | -11.9% | ✗ MISS |
Q2 2023 | May 9, 2023 | $0.93 | $1.11 | +19.4% | ✓ BEAT |
Q1 2023 | Jan 31, 2023 | $1.15 | $1.14 | -0.9% | ✗ MISS |
Q4 2022 | Oct 27, 2022 | $1.04 | $1.19 | +14.4% | ✓ BEAT |
Q3 2022 | Jul 28, 2022 | $0.94 | $1.10 | +17.0% | ✓ BEAT |
Q2 2022 | May 12, 2022 | $1.20 | $1.30 | +8.3% | ✓ BEAT |
Q1 2022 | Feb 8, 2022 | $2.18 | $2.90 | +33.0% | ✓ BEAT |
Q4 2021 | Oct 28, 2021 | $1.17 | $1.71 | +46.2% | ✓ BEAT |
Q3 2021 | Aug 3, 2021 | $1.11 | $1.19 | +7.2% | ✓ BEAT |
Latest News
Keefe, Bruyette & Woods Maintains Outperform on Houlihan Lokey, Lowers Price Target to $228
➖ NeutralUBS Assumes Houlihan Lokey at Neutral, Announces Price Target of $193
➖ NeutralHoulihan Lokey Expands Global Consumer Team With JP Morgan's Marco Voci Joining as Managing Director in London
📈 PositiveHoulihan Lokey shares are trading lower. The company reported Q2 financial results.
📉 NegativeHoulihan Lokey Q2 Adj. EPS $1.84 Beats $1.70 Estimate, Sales $659.452M Beat $648.145M Estimate
📈 PositiveKeefe, Bruyette & Woods Maintains Outperform on Houlihan Lokey, Lowers Price Target to $226
📈 PositiveDeutsche Bank Initiates Coverage On Houlihan Lokey with Hold Rating, Announces Price Target of $210
➖ NeutralBMO Capital Initiates Coverage On Houlihan Lokey with Outperform Rating, Announces Price Target of $230
📈 Positive'Altice International Creditors Tap Houlihan Lokey for Debt Talks'- Bloomberg
📉 NegativeMorgan Stanley Maintains Overweight on Houlihan Lokey, Raises Price Target to $213
📈 PositiveFrequently Asked Questions about HLI
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