Houlihan Lokey (HLI) Financial Statements & Analysis

Houlihan Lokey (HLI) Income Statement

Houlihan Lokey reported revenue of $2.62B in fiscal 2026 (fiscal year ended Mar 31, 2026), up 9.5% from $2.39B a year earlier. Net income was $425.70M, up 6.5% year over year, a net margin of 16.3%. Gross margin was 35.7% and operating margin 20.1%. In the most recent quarter, Q1 fiscal 2027 (ended Jun 30, 2026), revenue was $511.00M, down 15.5% from the same quarter a year earlier.

Houlihan Lokey Income Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Houlihan Lokey, Inc. income statement - Annual data in billions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017
Revenue & Gross Profit
Revenue	2.62	2.39	1.91	1.81	2.27	1.53	1.16	1.08	0.96	0.87
Cost of Revenue	1.68	1.47	1.21	1.11	1.41	0.97	0.74	0.69	0.64	0.58
Gross Profit	0.93	0.92	0.70	0.70	0.86	0.55	0.42	0.39	0.33	0.29
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	0.27	0.19	0.25	0.14	0.13	0.10	0.09	0.08	0.06	0.06
Operating Expenses	0.39	0.42	0.34	0.35	0.25	0.15	0.19	0.17	0.11	0.11
Operating Income	0.53	0.50	0.37	0.34	0.61	0.41	0.23	0.22	0.21	0.18
Other Income/Expense
Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Income/Expense	0.04	0.03	0.02	-0.02	-0.01	0.00	0.01	0.01	0.00	0.00
Income
Income Before Tax	0.56	0.53	0.39	0.32	0.60	0.41	0.24	0.22	0.22	0.18
Income Tax Expense	0.14	0.13	0.11	0.07	0.17	0.10	0.05	0.07	0.05	0.07
Net Income	0.43	0.40	0.28	0.25	0.44	0.31	0.18	0.16	0.17	0.11
Net Income - Continuous Operations	0.42	0.40	0.28	0.25	0.44	0.31	0.18	0.16	0.17	0.11
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-	-
EBITDA	0.57	0.60	0.40	0.44	0.66	0.42	0.25	0.23	0.22	0.19
EBIT	0.53	0.56	0.37	0.34	0.61	0.41	-	-	-	-
Depreciation & Amortization	0.04	0.04	0.03	0.06	0.05	0.02	0.02	0.01	0.01	0.01
Earnings Per Share
Basic EPS	6.00	6.00	4.00	4.00	7.00	5.00	3.00	2.00	3.00	2.00
Diluted EPS	6.00	6.00	4.00	4.00	6.00	5.00	3.00	2.00	3.00	2.00
Basic Shares Outstanding	0.07	0.07	0.06	0.06	0.06	0.07	0.06	0.07	0.07	0.06
Diluted Shares Outstanding	0.07	0.07	0.07	0.07	0.07	0.07	0.07	0.07	0.07	0.07

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Houlihan Lokey Financial Statements

What was Houlihan Lokey's revenue in fiscal 2026?

Houlihan Lokey reported revenue of $2.62B in fiscal 2026 (fiscal year ended Mar 31, 2026). That was up 9.5% from $2.39B a year earlier.

Is Houlihan Lokey profitable?

Yes. Houlihan Lokey earned net income of $425.70M in fiscal 2026, a net margin of 16.3%. In fiscal 2025 it earned $399.71M.

What is Houlihan Lokey's operating margin?

Houlihan Lokey's operating income was $527.02M on revenue of $2.62B in fiscal 2026, an operating margin of 20.1%, compared with 21.0% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition