HOULIHAN LOKEY, INC.

Listed Company

HLICIK 0001302215NYSELarge AcceleratedInvestment AdviceFY ends Mar 31

Period

FY 2026

Revenue

$2.62B

Net Income

$425.70M

Total Assets

$4.31B

Equity

$2.34B

Shares Out

587.9K

Op. Cash Flow

$704.13M

HLI$140.05−29.12% · past yearDBEQ Basic

Daily closing prices

Business

Houlihan Lokey, Inc. is a global independent investment bank providing mergers & acquisitions, capital solutions, financial restructuring, and valuation advisory services to corporations, financial sponsors, and government agencies worldwide. The firm offers M&A advisory, capital-raising services, restructuring and liability management counsel, and financial opinions and valuation consulting through three reportable business segments. Services are marketed through product areas, industry groups, and a dedicated Financial Sponsors group, with a platform spanning more than thirty offices globally.

Summary from 10-K filed 2026-05-22

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2026 2026-03-31	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31
Revenues	2,618	2,389	1,914	1,809	2,270
Employee compensation and benefits	1,610	1,469	1,177	1,113	1,409
Acquisition related compensation and benefits	74	55	36	35	—
Travel, meals, and entertainment	72	65	65	51	22
Rent	80	78	76	56	48
Depreciation and amortization	43	41	29	58	49
Information technology and communications	76	69	60	54	42
Professional fees	45	41	49	33	38
Other operating expenses	73	69	59	68	50
Revaluation of acquisition contingent consideration	18	−1	−10	—	—
Total operating expenses	2,090	1,887	1,541	1,468	1,657
Operating income	527	503	373	342	613
Other (income) expense, net	−35	−29	−17	18	9
Income before provision for income taxes	562	531	391	324	604
Provision for income taxes	138	132	110	70	166
Net income	424	400	280	254	438
Net (income) loss attributable to noncontrolling interest	2	0	0	0	−573,000
Net income attributable to Houlihan Lokey, Inc.	426	400	280	254	438
Basic (in shares)	67	66	64	63	65
Fully diluted (in shares)	68	69	68	68	68
Basic (in usd per share)	6.4	6.08	4.36	4.01	6.74
Fully diluted (in usd per share)	6.22	5.82	4.11	3.76	6.41

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2026 2026-03-31	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31
Cash and cash equivalents	1,189	971	721	714	834
Investment securities	170	196	38	37	109
Accounts receivable, net of allowance for credit losses of $12,790 and $13,843, respectively	228	257	200	182	144
Unbilled work in progress, net of allowance for credit losses of $8,430 and $6,764, respectively	271	158	192	115	105
Property and equipment, net	143	149	137	88	52
Operating lease right-of-use assets	407	363	344	334	172
Goodwill	1,396	1,285	1,127	1,088	1,070
Other intangible assets, net	204	213	197	203	247
Other assets	299	229	91	84	58
Total assets	4,309	3,820	3,171	2,969	2,887
Accrued salaries and bonuses	1,077	937	726	766	954
Accounts payable and accrued expenses	136	137	114	113	126
Operating lease liabilities	492	438	415	375	197
Other liabilities	151	133	38	60	75
Total liabilities	1,856	1,645	1,334	1,356	1,443
Commitments and contingencies (Note 16)	—	—	—	—	—
Redeemable noncontrolling interest	111	0	—	—	—
Additional paid-in capital	746	843	740	643	565
Retained earnings	1,645	1,395	1,163	1,033	922
Accumulated other comprehensive loss	−49	−63	−67	−63	−43
Total stockholders' equity	2,342	2,175	1,837	1,613	1,444
Total liabilities, temporary equity and stockholders' equity	4,309	3,820	3,171	2,969	2,887

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2026 2026-03-31	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31
Deferred taxes	−25	−957,000	20	−3	−71
Provision for bad debts, net	8	9	7	6	4
Non-cash lease expense	39	37	33	27	32
Depreciation and amortization	43	41	29	58	49
Revaluation of acquisition contingent consideration	18	−1	−10	2	7
Compensation expense equity and liability classified share awards	201	168	167	157	92
Other	−2	−1	−876,000	—	—
Accounts receivable	33	−56	−24	−38	14
Unbilled work in progress	−115	34	−77	−12	18
Other assets	−20	6	−22	−26	15
Accrued salaries and bonuses	128	210	−42	−190	151
Accounts payable and accrued expenses and other liabilities	−28	2	−31	−32	−10
Net cash provided by operating activities	704	849	328	136	737
Purchases of investment securities	−263	−250	−11	−19	−102
Sales or maturities of investment securities	290	94	11	87	197
Acquisition of businesses, net of cash acquired	−3	−69	−4	−20	−361
Capital expenditures	−22	−40	−67	−51	−9
Net cash provided by/(used in) investing activities	2	−265	−70	−3	−274
Dividends paid	−174	−165	−148	−140	−115
Share repurchases	−175	−53	−25	−49	−305
Payments to settle employee tax obligations on share-based awards	−143	−102	−71	−42	−34
Earnouts paid	−741,000	−10	−7	−7	−6
Other financing activities	0	710,000	587,000	570,000	477,000
Net cash used in financing activities	−493	−329	−251	−240	−459
Effects of exchange rate changes on cash, cash equivalents, and restricted cash	5	−756,000	−425,000	−12	−17
Net increase in cash, cash equivalents, and restricted cash	218	254	7	−119	−13
Promissory note issued as consideration for acquisition	0	351,000	15	0	0
Shares issued as consideration for acquisition	21	85	19	7	2
Taxes, net of refunds	187	93	105	157	242

Filings

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Frequently asked questions

What is HOULIHAN LOKEY, INC.'s CIK number?

HOULIHAN LOKEY, INC.'s SEC CIK number is 0001302215 (1302215). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find HOULIHAN LOKEY, INC.'s SEC filings?

All of HOULIHAN LOKEY, INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did HOULIHAN LOKEY, INC. last report earnings?

HOULIHAN LOKEY, INC. (HLI) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001302215-26-000014). This is HOULIHAN LOKEY, INC.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is HOULIHAN LOKEY, INC.'s most recent earnings 8-K?

HOULIHAN LOKEY, INC.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001302215-26-000014. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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