Houlihan Lokey, Inc.

HLI Financial Capital Markets

Houlihan Lokey, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $2.6 billion, up 9.55% from fiscal 2025.

Revenue
+4.85%
EPS
−1.80%
Free cash flow
−25.7%

Quarter to September 2026, against a year earlier

148.20 5.86 −3.80%
Market cap
$10.2B
P/E
24.5×
Fwd P/E
18.2×
Dividend yield
1.75%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a

Houlihan Lokey, Inc. (HLI) Operating margin

Alert me on Operating margin

Houlihan Lokey, Inc.'s operating margin over the twelve months to 30 September 2026 was 20.3%, up 0.1 percentage points from fiscal 2026 (20.1%). Over the past ten years it has ranged from 18.2% (fiscal 2016) to 27.0% (fiscal 2022); the current reading is higher than 50% of that period. That is above the Capital Markets industry median of 0.00% and above the Financial sector median of 0.00%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2026 20.1% (0.90)
FY2025 21.0% 1.53
FY2024 19.5% 0.61
FY2023 18.9% (8.11)
FY2022 27.0% 0.24
FY2021 26.8% 6.96
FY2020 19.8% (0.40)
FY2019 20.2% (2.06)
FY2018 22.3% 1.39
FY2017 20.9% 2.65

Quarterly newest first

Period Operating margin Change (points)
Sep 2026 22.3% 6.99
Jun 2026 15.3% (4.46)
Mar 2026 19.7% (2.69)
Dec 2025 22.4% (0.47)
43 more quarters

Against its own ten years

Low 18.2% High 27.0%
Ten-year median 20.2%
Current reading's percentile 44

Operating margin against peers

Company Operating margin
FUTU Futu Holdings Limited Sponsored ADR compare 62.0%
VIRT Virtu Financial, Inc. compare 49.3%
XP XP Inc. compare 33.6%
JEF Jefferies Financial Group Inc. compare 23.4%
EVR Evercore Inc compare 22.5%
SF Stifel Financial Corporation compare 21.2%
HLI Houlihan Lokey, Inc. 20.3%
IREN IREN Limited compare −54.2%
BMNR BitMine Immersion Technologies, Inc. compare −14,505.1%
Capital Markets industry median 0.00%
Financial sector median 0.00%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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