HLI - Houlihan Lokey, Inc.
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$188.00
DETAILS
HIGH:
$211.00
LOW:
$160.00
MEDIAN:
$193.00
CONSENSUS:
$188.00
UPSIDE:
23.99%
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||||
| Revenue | 2,617.5 | 2,389.4 | 1,914.4 | 1,809.4 | 2,270.0 | 1,525.5 | 1,159.4 | 1,084.4 | 963.4 | 872.1 | 693.8 | 680.9 | 592.5 | 520.3 |
| Cost of Revenue | 42.6 | 1,469.5 | 1,177.4 | 1,112.8 | 1,408.6 | 971.2 | 737.8 | 692.1 | 636.6 | 582.2 | 461.6 | 475.1 | 414.9 | 0 |
| Gross Profit | 2,574.9 | 919.9 | 737.0 | 696.6 | 861.3 | 554.3 | 421.6 | 392.3 | 326.7 | 289.8 | 232.2 | 205.8 | 177.5 | 520.3 |
| Operating Expenses | ||||||||||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 0 | 188.5 | 185.3 | 142.9 | 127.8 | 95.6 | 93.3 | 83.2 | 64.2 | 57.8 | 63.2 | 43.8 | 38.1 | 372.6 |
| Other Expenses | 1,956.3 | 229.9 | 188.9 | 212.0 | 120.6 | 50.5 | 98.7 | 90.0 | 48.2 | 50.1 | 42.6 | 33.3 | 36.6 | 0 |
| Operating Expenses | 1,956.3 | 418.4 | 374.2 | 354.9 | 248.5 | 146.1 | 192.0 | 173.2 | 112.3 | 107.9 | 105.8 | 77.1 | 74.7 | 423.8 |
| Operating Income | ||||||||||||||
| Operating Income | 618.5 | 501.5 | 362.9 | 341.7 | 612.9 | 408.2 | 229.6 | 219.1 | 214.4 | 182.0 | 126.4 | 128.7 | 102.8 | 95.4 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.2 | 0 | 1.8 |
| Profitability | ||||||||||||||
| EBITDA | 604.9 | 597.6 | 427.6 | 435.0 | 661.4 | 423.4 | 246.9 | 233.6 | 222.3 | 190.8 | 133.9 | 134.2 | 108.9 | 3.0 |
| EBIT | 562.3 | 556.3 | 399.1 | 376.8 | 612.9 | 408.2 | 229.6 | 219.1 | 214.4 | 182.0 | 126.4 | 128.7 | 102.8 | 0 |
| Income Before Tax | 562.3 | 531.3 | 390.5 | 324 | 603.9 | 409.2 | 235.6 | 224.3 | 217.8 | 178.5 | 125.6 | 132.1 | 105.3 | 98.3 |
| Income Tax Expense | 138.1 | 131.6 | 110.2 | 69.8 | 165.6 | 96.5 | 51.9 | 65.2 | 45.6 | 70.1 | 55.9 | 52.2 | 43.9 | 39.4 |
| Net Income | 425.7 | 399.7 | 280.3 | 254.2 | 437.8 | 312.8 | 183.8 | 159.1 | 172.3 | 108.3 | 69.7 | 79.9 | 61.3 | 59.0 |
| Per Share Data | ||||||||||||||
| EPS (Basic) | 6.40 | 6.08 | 4.36 | 4.01 | 6.74 | 4.75 | 2.96 | 2.42 | 2.60 | 1.77 | 1.18 | 1.32 | 1.01 | 1.00 |
| EPS (Diluted) | 6.22 | 5.82 | 4.11 | 3.76 | 6.41 | 4.55 | 2.80 | 2.42 | 2.60 | 1.63 | 1.10 | 1.32 | 1.01 | 1.00 |
| Shares Outstanding | 66.5 | 65.7 | 64.3 | 63.4 | 65.0 | 65.8 | 62.2 | 65.7 | 66.3 | 61.1 | 59.0 | 60.1 | 58.4 | 58.8 |
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | |||||||||||
| Cash & Cash Equivalents | 1,189.5 | 971.0 | 721.2 | 714.4 | 833.7 | 846.9 | 380.4 | 285.7 | 206.7 | 300.3 | 166.2 |
| Short-Term Investments | 0 | 167.3 | 7.6 | 6.3 | 0 | 0 | 105.3 | 0 | 0 | 0 | 0 |
| Net Receivables | 228.3 | 415.1 | 424.5 | 314.8 | 248.8 | 226.5 | 125.0 | 151.4 | 131.9 | 129.3 | 144.0 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 0 | 4.6 | 0.6 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 93.5 | 192.4 | 0 |
| Total Current Assets | 1,417.8 | 1,558.0 | 1,153.9 | 1,035.8 | 1,082.8 | 1,073.7 | 611.1 | 437.5 | 432.1 | 622.0 | 310.2 |
| Non-Current Assets | |||||||||||
| Property, Plant & Equipment | 550.3 | 512.0 | 480.7 | 422.2 | 224.1 | 198.4 | 177.6 | 31.0 | 32.1 | 30.4 | 21.7 |
| Goodwill | 1,395.9 | 1,284.6 | 1,127.5 | 1,087.8 | 1,070.4 | 671.1 | 618.5 | 594.8 | 528.9 | 519.5 | 518.7 |
| Intangible Assets | 204.2 | 212.7 | 197.4 | 203.4 | 247.3 | 195.2 | 194.4 | 199.8 | 194.4 | 195.9 | 198.7 |
| Long-Term Investments | 170.3 | 28.3 | 30.4 | 31.1 | 109.1 | 208.6 | 30.1 | 125.3 | 209.3 | 0 | 0 |
| Other Non-Current Assets | 570.5 | 131.4 | 90.7 | 83.6 | 57.6 | 50.7 | 38.9 | 34.7 | 22.0 | 17.9 | 21.6 |
| Total Non-Current Assets | 2,891.2 | 2,261.7 | 2,016.8 | 1,933.0 | 1,804.0 | 1,352.3 | 1,065.9 | 988.4 | 986.8 | 763.7 | 760.7 |
| Total Assets | 4,309.0 | 3,819.7 | 3,170.8 | 2,968.8 | 2,886.8 | 2,426.1 | 1,677.0 | 1,423.1 | 1,418.8 | 1,382.4 | 1,070.9 |
| Current Liabilities | |||||||||||
| Account Payables | 0 | 137.2 | 114.2 | 113.4 | 126.2 | 67.5 | 53.9 | 55.0 | 40.8 | 41.7 | 34.4 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.0 | 0 | 0 |
| Deferred Revenue | 0 | 48.2 | 33.1 | 40.7 | 28.8 | 27.9 | 26.8 | 27.8 | 3.6 | 3.7 | 5.5 |
| Other Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (1.0) | 0 | 0 |
| Total Current Liabilities | 0 | 1,128.5 | 873.3 | 920.0 | 1,169.8 | 812.1 | 501.0 | 495.3 | 432.3 | 386.8 | 294.0 |
| Non-Current Liabilities | |||||||||||
| Long-Term Debt | 0 | 0 | 0 | 0 | 0.5 | 0.8 | 4.7 | 8.7 | 11.9 | 32.6 | 76.6 |
| Deferred Tax Liabilities | 0 | 8.8 | 7.5 | 0.5 | 0.8 | 0.1 | 0.7 | 8.1 | 22.2 | 31.2 | 37.3 |
| Other Non-Current Liabilities | 1,363.9 | 69.4 | 37.8 | 60.1 | 74.9 | 55.0 | 5.2 | (5.3) | 96.1 | 201.0 | 3.9 |
| Total Non-Current Liabilities | 1,856.0 | 516.4 | 460.7 | 435.5 | 273.3 | 230.4 | 191.6 | 39.2 | 133.8 | 268.5 | 123.3 |
| Total Liabilities | 1,856.0 | 1,644.8 | 1,334.0 | 1,355.5 | 1,443.1 | 1,042.5 | 692.6 | 534.6 | 566.0 | 655.3 | 417.3 |
| Stockholders' Equity | |||||||||||
| Common Stock | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| Retained Earnings | 1,645.1 | 1,394.7 | 1,163.4 | 1,033.1 | 922.2 | 600.1 | 377.5 | 276.5 | 207.1 | 87.4 | 28.6 |
| Accumulated Other Comprehensive Income | (48.9) | (63.3) | (66.6) | (62.8) | (43.3) | (20.2) | (43.1) | (30.3) | (14.0) | (21.9) | (14.6) |
| Total Stockholders' Equity | 2,342.4 | 2,174.9 | 1,836.8 | 1,613.3 | 1,443.7 | 1,383.6 | 984.4 | 891.3 | 852.8 | 726.6 | 651.2 |
| Total Liabilities & Equity | 4,309.0 | 3,819.7 | 3,170.8 | 2,968.8 | 2,886.8 | 2,426.1 | 1,677.0 | 1,425.9 | 1,418.8 | 1,385.7 | 1,070.9 |
| Debt Metrics | |||||||||||
| Total Debt | 492.1 | 438.2 | 415.4 | 374.9 | 197.6 | 175.3 | 158.9 | 8.7 | 12.8 | 32.6 | 76.6 |
| Net Debt | (697.3) | (532.8) | (305.8) | (339.6) | (636.1) | (671.5) | (221.5) | (277.1) | (193.9) | (267.8) | (89.5) |
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||
| Net Income | 424.2 | 399.7 | 280.3 | 254.2 | 437.8 | 312.8 | 183.8 | 159.1 | 172.3 | 108.3 | 69.8 |
| Depreciation & Amortization | 42.6 | 41.3 | 28.5 | 58.2 | 48.5 | 15.2 | 17.3 | 14.5 | 7.9 | 8.9 | 7.5 |
| Stock-Based Compensation | 201.3 | 168.4 | 166.6 | 156.9 | 91.9 | 62.4 | 64.3 | 56.6 | 47.1 | 39.4 | 35.1 |
| Change in Working Capital | 0 | 196.1 | (196.4) | (368.5) | 182.4 | 180.2 | 3.7 | 4.2 | 29.5 | 74.8 | (97.2) |
| Other Non-Cash Items | 61.1 | 44.1 | 28.9 | 38.8 | (23.9) | 30.4 | 28.2 | 0.6 | 0.4 | 4.0 | 2.5 |
| Operating Cash Flow | 704.1 | 848.6 | 328.5 | 136.3 | 736.6 | 579.8 | 287.7 | 224.3 | 250.6 | 229.3 | 13.5 |
| Investing Activities | |||||||||||
| Capital Expenditure | (22.3) | (39.7) | (66.7) | (50.7) | (8.7) | (14.1) | (20.7) | (6.7) | (7.7) | (14.4) | (9.4) |
| Acquisitions | (2.5) | (69.2) | (3.9) | (20.4) | (361.0) | (12.5) | (2.2) | (71.4) | (2.7) | (3.7) | (36.9) |
| Purchases of Investments | (263.3) | (250.5) | (11.3) | (19.2) | (101.6) | (391.6) | (350.7) | (147.0) | (209.3) | 0 | 0 |
| Sales/Maturities of Investments | 290.3 | 94.3 | 11.5 | 87.4 | 197.3 | 318.4 | 340.6 | 231.5 | 0 | 0 | 0 |
| Other Investing Activities | 0 | 0 | 0 | 0 | 0 | 0 | (0.2) | 0.1 | 1.2 | 16.5 | 225.8 |
| Investing Cash Flow | 2.2 | (265.1) | (70.4) | (3.0) | (273.9) | (99.7) | (33.1) | 6.5 | (218.6) | (1.7) | 179.6 |
| Financing Activities | |||||||||||
| Net Debt Issuance | 0 | 0 | 0 | (3.0) | (0.3) | (4.2) | (10.7) | (2.5) | (19.1) | (41.3) | (3.0) |
| Stock Repurchased | 0 | (52.5) | (25.0) | (48.7) | (304.8) | (102.2) | (29.6) | (69.6) | (18.1) | 0 | 0 |
| Dividends Paid | (174.0) | (165.2) | (148.5) | (140.4) | (114.8) | (92.0) | (80.7) | (66.9) | (52.1) | (55.3) | (114.3) |
| Other Financing Activities | (318.9) | (111.3) | (77.2) | (48.4) | (39.2) | (17.5) | (31.1) | (97.2) | (229.5) | 5.9 | 1.3 |
| Financing Cash Flow | (492.9) | (329.1) | (250.6) | (240.5) | (459.1) | (26.8) | (152.1) | (236.1) | (225.3) | 102.9 | (116.0) |
| Cash Position | |||||||||||
| Net Change in Cash | 218.3 | 253.7 | 7.0 | (119.3) | (13.2) | 466.5 | 94.6 | (14.1) | (192.5) | 326.5 | 77.5 |
| Cash at Beginning | 975.6 | 721.9 | 714.8 | 834.1 | 847.2 | 380.7 | 286.1 | 300.2 | 492.7 | 166.2 | 88.7 |
| Cash at End | 1,193.9 | 975.6 | 721.9 | 714.8 | 834.1 | 847.2 | 380.7 | 286.1 | 300.2 | 492.7 | 166.2 |
| Free Cash Flow | 681.8 | 808.9 | 261.7 | 85.5 | 727.9 | 565.7 | 266.9 | 217.5 | 242.9 | 214.8 | 4.1 |
| Key Metrics | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||||
| Revenue | 2,617.5 | 2,389.4 | 1,914.4 | 1,809.4 | 2,270.0 | 1,525.5 | 1,159.4 | 1,084.4 | 963.4 | 872.1 | 693.8 | 680.9 | 592.5 | 520.3 |
| Gross Profit | 2,574.9 | 919.9 | 737.0 | 696.6 | 861.3 | 554.3 | 421.6 | 392.3 | 326.7 | 289.8 | 232.2 | 205.8 | 177.5 | 520.3 |
| Operating Income | 618.5 | 501.5 | 362.9 | 341.7 | 612.9 | 408.2 | 229.6 | 219.1 | 214.4 | 182.0 | 126.4 | 128.7 | 102.8 | 95.4 |
| Net Income | 425.7 | 399.7 | 280.3 | 254.2 | 437.8 | 312.8 | 183.8 | 159.1 | 172.3 | 108.3 | 69.7 | 79.9 | 61.3 | 59.0 |
| EPS (Diluted) | 6.22 | 5.82 | 4.11 | 3.76 | 6.41 | 4.55 | 2.80 | 2.42 | 2.60 | 1.63 | 1.10 | 1.32 | 1.01 | 1.00 |
| Balance Sheet | ||||||||||||||
| Cash & Equivalents | 1,189.5 | 971.0 | 721.2 | 714.4 | 833.7 | 846.9 | 380.4 | 285.7 | 206.7 | 300.3 | 166.2 | |||
| Total Assets | 4,309.0 | 3,819.7 | 3,170.8 | 2,968.8 | 2,886.8 | 2,426.1 | 1,677.0 | 1,423.1 | 1,418.8 | 1,382.4 | 1,070.9 | |||
| Total Debt | 492.1 | 438.2 | 415.4 | 374.9 | 197.6 | 175.3 | 158.9 | 8.7 | 12.8 | 32.6 | 76.6 | |||
| Stockholders' Equity | 2,342.4 | 2,174.9 | 1,836.8 | 1,613.3 | 1,443.7 | 1,383.6 | 984.4 | 891.3 | 852.8 | 726.6 | 651.2 | |||
| Cash Flow | ||||||||||||||
| Operating Cash Flow | 704.1 | 848.6 | 328.5 | 136.3 | 736.6 | 579.8 | 287.7 | 224.3 | 250.6 | 229.3 | 13.5 | |||
| Capital Expenditure | (22.3) | (39.7) | (66.7) | (50.7) | (8.7) | (14.1) | (20.7) | (6.7) | (7.7) | (14.4) | (9.4) | |||
| Free Cash Flow | 681.8 | 808.9 | 261.7 | 85.5 | 727.9 | 565.7 | 266.9 | 217.5 | 242.9 | 214.8 | 4.1 | |||