Houlihan Lokey, Inc.

Houlihan Lokey, Inc.

HLIยทNYSE

$138.43

+1.3%
Financial ServicesFinancial - Capital Markets

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.

At a Glance

Live Snapshot
Market Cap$9.56B
EPS6.4000
P/E Ratio21.63
Earnings Date08/04/2026
3Y+15.0%
5Y+195.0%
10Y+6177.0%
3Y-3.0%
5Y+700.0%
10Y-248.0%
3Y-28.0%
5Y+116.0%
10Y+184.0%
HLI

Houlihan Lokey, Inc. Cash Conversion Engine

HLI ยท NYSE
Net Income399.71M
Depreciation & Amortization41.27M
Stock-Based Compensation168.44M
Change in Working Capital196.07M
Others44.07M
Capital Expenditures-39.70M
Free Cash Flow808.91M

Cash Flow Quality Analysis

FCF Conversion Rate

202.4%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

CapEx Intensity

4.7%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

+209.1%

Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.

Working Capital Impact

+$196.07M

Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.

Cash Flow Quality Insight

Exceptional cash generation: High-quality earnings converting to growing free cash flow. The company demonstrates strong pricing power, efficient operations, and disciplined capital allocation.

Houlihan Lokey, Inc. Cash Flow Statement

HLI โ€ข NYSE

Houlihan Lokey, Inc. Cash Flow StatementMar 2025Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017Mar 2016Mar 2015Mar 2014Mar 2013
OPERATING ACTIVITIES
399.7M
280.3M
254.2M
437.8M
312.8M
183.8M
159.1M
172.3M
108.3M
69.8M
79.9M
61.4M
59M
41.3M
28.5M
58.2M
48.5M
15.2M
17.3M
14.5M
7.9M
8.9M
7.5M
5.5M
6M
5.4M
-957K
20.5M
-3.4M
0.0
-21.2M
-9.7M
-10.7M
-6.6M
-6.1M
-4.2M
-7.4M
-7.2M
0.0
168.4M
166.6M
156.9M
91.9M
62.4M
64.3M
56.6M
47.1M
39.4M
35.1M
23.2M
22.5M
24M
44.1M
28.9M
38.8M
-23.9M
30.4M
28.2M
569K
447K
4M
2.5M
2.8M
2.5M
33.2M
(93.3M)
(105.1M)
(156.8M)
(242M)
(44.2M)
(73.9M)
(80.8M)
(47.6M)
(57.3M)
(75.4M)
(0.0)
(1.6M)
(0.0)
196.1M
-196.4M
-368.5M
182.4M
180.2M
3.7M
4.3M
29.5M
74.8M
-97.2M
92.5M
79.8M
7M
848.6M
328.5M
136.3M
736.6M
579.8M
287.7M
224.3M
250.6M
229.3M
13.5M
196.5M
165M
128.4M
INVESTING ACTIVITIES
-39.7M
-66.7M
-50.7M
-8.7M
-14.1M
-20.7M
-6.7M
-7.7M
-14.4M
-9.4M
-4.7M
-2.2M
-6.8M
-69.2M
-3.9M
-20.4M
-361M
-12.5M
-2.2M
-71.4M
-2.7M
-3.7M
-36.9M
-5.2M
-9.1M
-10.4M
-250.5M
-11.3M
-19.2M
-101.6M
-391.6M
-350.7M
-147M
-209.3M
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
94.3M
11.5M
87.4M
197.3M
318.4M
340.6M
231.5M
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-170K
101K
1.2M
16.5M
225.8M
-203.6M
-110.7M
-102.9M
-265.1M
-70.4M
-3M
-273.9M
-99.7M
-33.1M
(6.5M)
-218.6M
-1.7M
(179.6M)
-213.5M
-122M
-120.1M
FINANCING ACTIVITIES
-52.5M
-25M
-48.7M
-304.8M
86.8M
-29.6M
-69.6M
75.4M
193.6M
0.0
0.0
0.0
0.0
0.0
0.0
-3M
-280K
-4.2M
-10.7M
-2.5M
-19.1M
-41.3M
-3M
0.0
0.0
0.0
-165.2M
-148.5M
-140.4M
-114.8M
-92M
-80.7M
-66.9M
-52.1M
-55.3M
-114.3M
-2.2M
-1.1M
-62.4M
-52.5M
-25M
-48.7M
-304.8M
-102.2M
-29.6M
-69.6M
-18.1M
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
-111.3M
-77.2M
-48.4M
-39.2M
-17.5M
-31.1M
-97.2M
-229.5M
5.9M
1.3M
635K
-2.2M
-3.7M
-329.1M
-250.6M
-240.5M
-459.1M
-26.8M
-152.1M
-236.1M
-225.3M
102.9M
-116M
-1.5M
-3.3M
-66M
CASH FLOW SUMMARY
-756K
-425K
-12.1M
-16.8M
13.2M
-7.8M
-8.7M
785K
-4M
443K
-2.3M
1.3M
-1.2M
253.7M
7M
-119.3M
-13.2M
466.5M
94.6M
-14.1M
-192.5M
326.5M
77.5M
-20.8M
41M
-58.8M
721.9M
714.8M
834.1M
847.2M
380.7M
286.1M
300.2M
492.7M
166.2M
88.7M
109.4M
68.4M
127.2M
975.6M
721.9M
714.8M
834.1M
847.2M
380.7M
286.1M
300.2M
492.7M
166.2M
88.7M
109.4M
68.4M
808.9M
261.7M
85.5M
727.9M
565.7M
266.9M
217.5M
242.9M
214.8M
4.1M
191.8M
162.8M
121.6M

SEC Filings

HLI - Filing history and reports

Filing TypeFiling DatePeriod EndingFiscal YearActions
10-K

10-K 2026 FY

FY

May 22, 2026
March 31, 2026
2026
8-K

8-K 2026

N/A

May 07, 2026
May 06, 2026
2026
8-K

8-K 2026

N/A

February 25, 2026
February 25, 2026
2026
10-Q

10-Q 2025 Q4

Q4

February 03, 2026
December 31, 2025
2025
8-K

8-K 2026

N/A

January 29, 2026
January 28, 2026
2026
8-K

8-K 2026

N/A

January 29, 2026
January 24, 2026
2026
8-K

8-K 2025

N/A

December 30, 2025
December 30, 2025
2025
10-Q

10-Q 2025 Q3

Q3

November 04, 2025
September 30, 2025
2025
8-K

8-K 2025

N/A

October 31, 2025
October 30, 2025
2025
8-K

8-K 2025

N/A

October 06, 2025
September 30, 2025
2025
Showing 1 to 10 of 159 filings