Friday 6 November 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.

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%

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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

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Houlihan Lokey, Inc. (HLI) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2026: revenue by segment, and margins
Corporate Finance	1,745	66.65%
Financial Restructuring	529	20.20%
Financial Advisory Services	344	13.15%
Gross margin		35.73%
Operating margin		20.13%
Pre-tax margin		21.48%

Revenue by segment $m

Line	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Corporate Finance	1,745 66.65%	1,527 63.90%	1,107 57.82%	1,127 62.29%	1,593 70.18%	803 52.63%	647 55.79%	607 56.01%	529 54.87%	435 49.83%
Financial Restructuring	529 20.20%	544 22.79%	522 27.27%	396 21.87%	393 17.31%	535 35.05%	353 30.41%	318 29.30%	294 30.53%	308 35.27%
Financial Advisory Services	344 13.15%	318 13.32%	286 14.92%	287 15.84%	284 12.51%	188 12.31%	160 13.81%	159 14.69%	141 14.59%	130 14.90%
Revenue	2,618	2,389	1,914	1,809	2,270	1,525	1,159	1,084	963	872

Revenue by region $m

Line	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
United States	1,775 67.83%	1,702 71.24%	1,344 70.22%	1,289 71.26%	1,691 74.48%	1,193 78.19%	975 84.10%	879 81.05%	830 86.16%	760 87.20%
International	842 32.17%	687 28.76%	570 29.78%	520 28.74%	579 25.52%	333 21.81%	184 15.90%	206 18.95%	133 13.84%	112 12.80%
Revenue	2,618	2,389	1,914	1,809	2,270	1,525	1,159	1,084	963	872

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Adjusted non-compensation expenses per full-time employee	Q3 FY2026	$34,000.00	$31,000.00	+9.68%
Corporate Finance closed transactions	Q2 FY2027	142.00	171.00	−16.96%
Corporate Finance managing directors	Q2 FY2027	267.00	242.00	+10.33%
Financial and Valuation Advisory fee events	Q2 FY2027	1.1K	1.1K	−0.37%
Financial and Valuation Advisory managing directors	Q2 FY2027	46.00	45.00	+2.22%
Financial Restructuring closed transactions	Q2 FY2027	27.00	37.00	−27.03%
Financial Restructuring managing directors	Q2 FY2027	57.00	58.00	−1.72%
Non-compensation expenses per full-time employee	Q3 FY2026	$36,000.00	$35,000.00	+2.86%

	Q2 FY2027	Q1 FY2027	Q4 FY2026	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024
Adjusted non-compensation expenses per full-time employee	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate Finance closed transactions	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate Finance managing directors	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Financial and Valuation Advisory fee events	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Financial and Valuation Advisory managing directors	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Financial Restructuring closed transactions	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Financial Restructuring managing directors	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Non-compensation expenses per full-time employee	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.