Saturday 17 October 2026
Export HLI’s income statement to Excel — free account
Houlihan Lokey, Inc.
Houlihan Lokey, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $2.6 billion, up 9.55% from fiscal 2025. In the quarter to June 2026, revenue fell 15.5%, EPS fell 20.4% and free cash flow fell 135.9%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for three; insiders bought in the last twelve months.
129.55
1.04
+0.81%
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| Mar '26 | Mar '25 | Mar '24 | Mar '23 | Mar '22 | Mar '21 | Mar '20 | Mar '19 | Mar '18 | Mar '17 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
5 | 8 | 7 | 5 | 8 | 7 | 8 | 8 | 6 | 8 |
P/E ratio |
22.48 | 26.56 | 29.39 | 21.81 | 13.03 | 14.06 | 17.61 | 18.25 | 15.82 | 19.46 |
P/S ratio |
3.65 | 4.44 | 4.31 | 3.06 | 2.51 | 2.87 | 2.79 | 2.68 | 2.83 | 2.41 |
P/FCF ratio |
14.02 | 13.12 | 31.50 | 64.80 | 7.84 | 7.73 | 12.14 | 13.36 | 11.23 | 8.86 |
P/Operating CF |
32.62 | 29.62 | 36.60 | 23.28 | 88.48 | 16.05 | 18.31 | 21.98 | 24.81 | 21.00 |
P/B ratio |
4.08 | 4.88 | 4.49 | 3.44 | 3.95 | 3.16 | 3.29 | 3.26 | 3.20 | 2.90 |
Price to Tangible BV |
12.88 | 15.66 | 16.11 | 17.21 | 45.30 | 8.46 | 18.88 | 30.05 | 21.06 | 186.71 |
EV/Sales |
3.20 | 4.04 | 3.93 | 2.67 | 2.15 | 2.31 | 2.47 | 2.42 | 2.53 | 1.89 |
EV/EBITDA |
14.69 | 17.73 | 18.73 | 12.07 | 7.36 | 8.34 | 11.60 | 11.26 | 10.97 | 8.62 |
EV/Operating CF |
11.89 | 11.36 | 22.91 | 35.43 | 6.61 | 6.09 | 9.95 | 11.72 | 9.73 | 6.53 |
EV/FCF |
12.27 | 11.92 | 28.75 | 56.45 | 6.69 | 6.24 | 10.73 | 12.09 | 10.04 | 6.92 |
Quick Ratio |
1.17 | 1.14 | 1.14 | 1.04 | 0.86 | 1.22 | 0.98 | 0.76 | 0.72 | 0.96 |
Current Ratio |
1.17 | 1.14 | 1.14 | 1.04 | 0.86 | 1.22 | 0.98 | 0.76 | 0.72 | 0.96 |
Net Debt/EBITDA |
(2.09) | (1.79) | (1.80) | (1.79) | (1.26) | (2.00) | (1.52) | (1.19) | (1.30) | (2.41) |
Debt/Assets |
0.00% | 0.00% | 0.00% | 0.00% | 0.02% | 0.03% | 0.28% | 0.61% | 0.84% | 2.35% |
Debt/Equity |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.04 |
Asset Turnover |
0.64 | 0.68 | 0.62 | 0.62 | 0.85 | 0.74 | 0.75 | 0.76 | 0.69 | 0.71 |
Operating CF/Net income |
1.65 | 2.12 | 1.17 | 0.54 | 1.68 | 1.85 | 1.57 | 1.41 | 1.45 | 2.33 |
Capex/Depreciation |
(0.52) | (0.96) | (2.34) | (0.87) | (0.18) | (0.93) | (1.20) | (0.46) | (0.98) | (1.63) |
| 18.85% | 19.93% | 16.25% | 16.63% | 30.97% | 26.42% | 19.60% | 18.24% | 21.82% | 15.73% | |
| 10.47% | 11.44% | 9.13% | 8.68% | 16.48% | 15.25% | 11.85% | 11.19% | 12.29% | 8.82% | |
ROIC |
28.57% | 26.09% | 20.92% | 23.77% | 62.78% | 47.49% | 23.59% | 22.31% | 23.74% | 42.68% |
Return on Tangible Assets |
122.29% | 131.55% | 111.75% | 205.71% | (395.14%) | 143.61% | 539.73% | (200.02%) | (153.12%) | 1,291.18% |
Average Days of Receivables |
31.84 | 39.31 | 44.33 | 40.29 | 23.16 | 25.94 | 26.82 | 23.84 | 29.27 | 25.41 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Intangible Assets out of Total Assets |
0.37 | 0.39 | 0.42 | 0.43 | 0.46 | 0.36 | 0.48 | 0.56 | 0.51 | 0.52 |
Share Based Compensation of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Graham Net Nets |
(0.06) | (0.04) | (0.05) | (0.08) | (0.08) | (0.02) | (0.07) | (0.06) | (0.07) | (0.05) |
Graham Number |
71.13 | 67.28 | 52.92 | 47.94 | 58.05 | 47.31 | 32.48 | 28.73 | 29.11 | 21.76 |
Earnings Yield |
4.45% | 3.76% | 3.40% | 4.59% | 7.68% | 7.11% | 5.68% | 5.48% | 6.32% | 5.14% |
Free Cash Flow Yield |
7.13% | 7.62% | 3.17% | 1.54% | 12.76% | 12.93% | 8.24% | 7.48% | 8.91% | 11.29% |
Revenue per Share |
39.33 | 36.36 | 29.76 | 28.56 | 34.94 | 23.19 | 18.65 | 17.43 | 15.42 | 14.27 |
Operating CF per Share |
10.58 | 12.91 | 5.11 | 2.15 | 11.34 | 8.81 | 4.63 | 3.60 | 4.01 | 4.12 |
Capex per Share |
(0.34) | (0.60) | (1.04) | (0.80) | (0.13) | (0.22) | (0.33) | (0.11) | (0.12) | (0.24) |
Free Cash Flow per Share |
10.25 | 12.31 | 4.07 | 1.35 | 11.20 | 8.60 | 4.30 | 3.50 | 3.89 | 3.89 |
Cash per Share |
17.87 | 14.77 | 11.22 | 11.28 | 12.84 | 12.88 | 6.13 | 4.60 | 4.80 | 8.06 |
Shareholders Equity per Share |
35.20 | 33.09 | 28.55 | 25.46 | 22.22 | 21.03 | 15.84 | 14.33 | 13.65 | 11.89 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
35.20 | 33.09 | 28.55 | 25.46 | 22.22 | 21.03 | 15.84 | 14.33 | 13.65 | 11.89 |
Free Cash Flow |
681.82 | 808.91 | 261.73 | 85.54 | 727.92 | 565.69 | 266.95 | 217.55 | 242.93 | 237.60 |
Working Capital |
205.22 | 154.49 | 114.14 | 35.24 | (162.96) | 171.43 | (8.32) | (110.58) | (144.66) | (22.02) |
Capital Expenditures |
(22.31) | (39.70) | (66.73) | (50.73) | (8.68) | (14.15) | (20.72) | (6.73) | (7.72) | (14.42) |
Net Current Asset Value |
(548.82) | (416.50) | (379.67) | (440.98) | (465.01) | (86.87) | (226.68) | (177.64) | (188.55) | (105.69) |
EV/EBIT |
15.88 | 19.19 | 20.16 | 14.13 | 7.95 | 8.65 | 12.47 | 12.00 | 11.38 | 9.04 |
Capex to Sales |
0.01 | 0.02 | 0.03 | 0.03 | 0.00 | 0.01 | 0.02 | 0.01 | 0.01 | 0.02 |
Price to Operating Income |
18.14 | 21.12 | 22.09 | 16.22 | 9.31 | 10.72 | 14.11 | 13.27 | 12.72 | 11.57 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.30 | 0.28 | 0.21 | 0.66 | 0.93 | 0.33 | 0.41 | 0.47 | 0.25 | 0.29 |
Cash ROIC |
19.30% | 25.71% | 10.23% | 3.67% | 31.95% | 25.35% | 19.49% | 18.34% | 20.85% | 18.98% |
Accounts Receivable Turnover |
10.78 | 9.76 | 8.86 | 10.53 | 17.98 | 15.76 | 14.86 | 14.65 | 13.96 | 13.84 |
Accounts Payable Turnover |
12.32 | 12.21 | 10.92 | 9.71 | 14.78 | 16.11 | 14.32 | 15.34 | 16.09 | 15.88 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
29.50 | 32.64 | 33.54 | 35.57 | 32.18 | 25.19 | 25.22 | 27.34 | 22.44 | 25.17 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
242.82 | 244.91 | 216.10 | 171.88 | 126.22 | 96.80 | 78.01 | 74.04 | 68.99 | 63.01 |
Average Payables |
136.59 | 125.70 | 113.80 | 119.81 | 96.83 | 60.68 | 54.47 | 47.91 | 41.21 | 38.03 |
Average Assets |
4,064.33 | 3,495.23 | 3,069.79 | 2,927.81 | 2,656.44 | 2,051.54 | 1,551.46 | 1,422.38 | 1,402.27 | 1,228.30 |
Average Common Equity |
2,258.63 | 2,005.81 | 1,725.02 | 1,528.50 | 1,413.63 | 1,183.97 | 937.86 | 872.07 | 789.71 | 688.89 |
Columns are period end dates