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Hamilton Lane Inc.

HLNE Financial Asset Management

Hamilton Lane Inc.’s revenue for fiscal 2026 (year ended March 2026) was $759.0 million, up 6.46% from fiscal 2025.

Revenue
+7.10%
EPS
+111.5%
Free cash flow
+130.4%
Total debt
−5.91%

Quarter to September 2026, against a year earlier

90.98 0.85 +0.94%
Market cap
$5.0B
P/E
10.6×
Fwd P/E
11.3×
Dividend yield
2.52%
F-score
4/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 18.47
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — 5 — — 1 3 — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 21.04%

Capital & Financial Ratios $m

Size
Market Cap 5,030.00
Revenue ttm 871.92
Net income ttm 480.85
Free cash flow ttm 271.82
Net debt Q (79.23)
Valuation
P/E 10.58
Forward P/E 11.30
Price / sales 4.27
Forward P/S Powerpack
Price / FCF 45.88
Price / book 1.93
Financial health
Current ratio Q 3.37
Debt / equity Q 0.14
Interest coverage Q 24.90
Growth
Revenue growth Q +7.10% (above 0%: growing)
Operating income growth Q +8.29% (above 0%: growing)
EPS, this year +26.70% (at or above 15%: strong)
EPS, next year A +0.22%
Revenue, next year A +29.49% (at or above 10%: strong)
EPS, past 5 yrs +16.07% (at or above 15%: strong)
EPS, next 5 yrs A +13.47%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 1.07%
10-year low 10-year high
P/S against its own 10 years 22.04%
10-year low 10-year high
P/B against its own 10 years 1.08%
10-year low 10-year high

Dividends raised every year since 2017

Yield
2.52%
Annual rate
2.28
Payout ratio
29.8%
Growth, 2017–25
+19.0%/yr
  1. 0.53 ’17
  2. 0.81 ’18 +55
  3. 1.04 ’19 +28
  4. 1.21 ’20 +17
  5. 1.36 ’21 +12
  6. 1.55 ’22 +14
  7. 1.74 ’23 +12
  8. 1.92 ’24 +10
  9. 2.11 ’25 +10
  10. 2.19 ’26e +4
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 120 284 372 348
Receivables 108 181 152 190
Inventory — — — —
Other 8 16 24 28
247 492 561 579
2024 2025 2026 Q'26
Payables 22 26 28 34
ST’ Debt — — — —
Other 0 1 15 9
82 102 154 172

Compound Annual Growth %

10y 5y 3y
Sales 15.43% 17.31% 12.80%
Cash Flow 14.56% 17.69% 23.32%
Earnings 15.87% 20.51% 31.68%
Book Value 0.00% 36.09% 36.69%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY27 Estimate 1.72 Actual 1.98

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY26 1.28 1.55 Beat by 0.27
Q4 FY26 1.43 1.49 Beat by 0.06
Q1 FY27 1.52 1.94 Beat by 0.42
Q2 FY27 1.72 1.98 Beat by 0.26
Q3 FY27 1.91 — Reports 2 February 2027

EPS $

Jun Sep Dec Mar Year
’26 1.93 2.77 — — —
’26 1.28 1.69 1.37 1.57 5.92
’25 1.47 1.37 1.32 1.23 5.41
’24 0.81 1.11 0.51 1.26 3.69
’23 0.91 0.97 0.31 0.82 3.01
’22 0.78 1.41 1.40 0.39 3.98
’21 0.11 0.66 0.96 1.00 2.81
Fiscal quarters ending in the months shown.

Revenue $m

Jun Sep Dec Mar Year
’26 275 204 — — —
’26 176 191 199 194 759
’25 197 150 168 198 713
’24 125 127 125 177 554
’23 136 153 127 113 529
’22 79 96 92 101 368
’21 70 84 85 103 342
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Jun Sep Dec Mar Year
’26 77 28 — — —
’26 129 119 74 103 425
’25 80 117 64 39 301
’24 58 78 (36) 22 121
’23 61 95 58 13 227
’22 32 52 69 17 170
’21 47 42 58 40 188
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Jun Sep Dec Mar Year
’26 75 23 — — —
’26 128 (75) 72 101 419
’25 78 96 81 36 291
’24 55 16 21 21 113
’23 59 94 57 12 222
’22 28 49 67 16 161
’21 46 41 51 30 169
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Sep ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 180 244 252 274 342 368 529 554 713 759 872 +17.4% 983 1,059 1,200 +16.5%
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT 75 140 130 141 193 314 243 282 362 463 578 +22.5%
EBT margin, % 41.57 57.22 51.38 51.36 56.55 85.26 45.88 50.86 50.81 60.99 66.34 +19.4 pt
Net income 74 106 99 127 169 247 187 227 314 388 481 +20.1%
Per share, $
Per share, $ Revenue 10.11 13.25 10.58 9.76 10.31 10.08 14.27 14.63 17.86 18.24 21.18 +6.8%
Earnings 0.03 0.94 1.41 2.17 2.82 4.02 3.05 3.72 5.45 5.99 8.54 +80.1%
Cash flow 4.59 5.25 4.68 4.14 5.68 4.64 6.11 3.19 7.54 10.21 6.86 +9.3%
Capex (0.07) (0.12) (0.23) (0.22) (0.59) (0.23) (0.13) (0.21) (0.25) (0.14) (0.25) +7.8%
Free cash flow 4.52 5.13 4.46 3.92 5.08 4.41 5.99 2.99 7.28 10.07 6.60 +9.3%
Book value 4.87 7.39 7.12 8.45 9.48 12.64 15.49 17.86 23.14 35.25 46.84 +24.6%
Shares, m 18 18 24 28 33 37 37 38 40 42 42 +9.9%
Valuation, ×
Valuation, × P/E 622.33 40.57 30.82 25.61 32.32 19.23 24.18 30.00 27.33 16.59 10.58 86.9
P/S 1.85 2.76 4.17 5.67 8.59 7.67 5.19 7.61 8.32 5.45 4.27 5.7
P/B 3.83 4.94 6.19 6.54 9.34 6.12 4.77 6.23 6.42 2.82 1.93 5.7
EV/Sales 2.13 2.90 4.24 5.75 8.81 7.93 5.37 7.75 8.33 5.33 — 5.9
EV/FCF 4.75 7.49 10.07 13.77 17.75 18.72 13.10 37.93 20.38 17.70 — 16.2
Cash, $m
Cash, $m Operating cash flow 82 97 112 116 188 170 227 121 301 425 282 +20.1%
Capex (1) (2) (5) (6) (20) (9) (5) (8) (10) (6) (10) +18.4%
Free cash flow 80 94 106 110 169 161 222 113 291 419 272 +20.1%
Balance, $m
Balance, $m Working capital 0 38 38 63 51 61 114 165 391 407 407 n/m
Net debt 50 35 19 21 73 95 97 77 7 (93) (79) n/m
Shareholders’ equity 87 136 170 237 314 461 574 676 924 1,467 1,928 +36.9%
Returns, %
Returns, % ROA 0.28 6.49 10.26 14.58 12.18 12.01 8.96 11.68 14.68 12.47 11.98 +12.2 pt
ROIC 34.77 44.98 34.45 28.13 25.15 19.04 22.35 20.42 21.26 14.79 12.88 (20.0) pt
ROE (4.84) 15.57 21.96 29.88 35.54 37.64 21.07 22.53 27.18 20.85 18.31 +25.7 pt
People
People Employees 290 340 370 400 450 540 600 700 760 785 — +11.7%
Revenue/emp, $m 0.62 0.72 0.68 0.69 0.76 0.68 0.88 0.79 0.94 0.97 — +5.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Mar 2026 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Hamilton Lane Inc. vs peers in Asset Management (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BXSL Blackstone Secured Lending Fund $5.6B 20.1× 14.3× −12.10% (below 0%: shrinking) −12.28% (below 0%: shrinking) +210.81% (above 0%: growing) 100.00% 81.57% Compare
OBDC Blue Owl Capital Corporation $5.3B 15.9× 14.2× −13.47% (below 0%: shrinking) +48.00% (above 0%: growing) +147.77% (above 0%: growing) 100.00% 75.02% Compare
MAIN Main Street Capital Corporation $5.3B 11.5× 13.3× +3.89% (above 0%: growing) +15.33% (above 0%: growing) +13.70% (above 0%: growing) 100.00% 87.20% Compare
STEP StepStone Group Inc. $5.2B — (loss-making) 3.9× +4.01% (above 0%: growing) n/m −1,113.70% (below 0%: shrinking) 100.00% (54.06%) Compare
HASI HA Sustainable Infrastructure Capital, Inc. $5.1B 60.4× 24.0× +40.97% (above 0%: growing) +25.00% (above 0%: growing) −14.48% (below 0%: shrinking) 100.00% 80.56% Compare
HLNE Hamilton Lane Inc. $5.0B 10.6× 11.3× +7.10% (above 0%: growing) +111.53% (above 0%: growing) +130.39% (above 0%: growing) 100.00% 42.23%
FHI Federated Hermes, Inc. $4.7B 11.6× 10.4× +8.07% (above 0%: growing) +11.94% (above 0%: growing) +18.31% (above 0%: growing) 100.00% 30.22% Compare
OTF Blue Owl Technology Finance Corp. $4.4B 12.2× 20.5× +5.80% (above 0%: growing) −4.00% (below 0%: shrinking) +14.45% (above 0%: growing) 100.00% 0.00% Compare
CNS Cohen & Steers Inc $3.8B 22.4× 21.1× +11.08% (above 0%: growing) +1.23% (above 0%: growing) −62.01% (below 0%: shrinking) 100.00% 32.44% Compare
Median of peers $5.1B 15.9× 14.3× +4.90% +11.94% +14.08% 100.00% 53.73%

All 121 Asset Management stocks →

Pay and ownership Proxy statement filed 23 July 2026

Ownership

Directors and executive officers, together 25.00% of the votes
HLA Investments, LLC 15.00% of the votes
Hartley R. Rogers 12.00% of the votes
BlackRock, Inc. 7.00% of the votes
Kayne Anderson Rudnick Investment Management, LLC 6.00% of the votes
Juan Delgado-Moreira 4.00% of the votes
HL Management Investors, LLC 4.00% of the votes
Mario L. Giannini 3.00% of the votes
Erik R. Hirsch 3.00% of the votes
O. Griffith Sexton 1.00% of the votes
Michael Schmertzler 1.00% of the votes
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Hamilton Lane Inc. (HLNE) Latest News

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21 Sep

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17 Sep

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15 Sep

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18 Aug

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11 Aug

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HLNE metrics, ten years each

stockrow.com/HLNE · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com