# Houlihan Lokey, Inc.: overview

HLI · NYSE · CIK 1302215 · [Financials](/sectors/financials.md) · fiscal year ends Mar 31

Pages: [Overview](/companies/hli.md) · [Financials](/companies/hli/financials.md) · [Filings](/companies/hli/filings.md) · [Insiders](/companies/hli/insiders.md)

Latest reported revenue: [$511.0m](/filings/0001302215-26-000067.md) for Q1 FY2027, three months to 2026-06-30, from the 10-Q filed Jul 31, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001302215-26-000067).

## Last eight quarters

| Line item | Unit | Q2 FY2025 (2024-09-30) | Q3 FY2025 (2024-12-31) | Q4 FY2025 (2025-03-31) | Q1 FY2026 (2025-06-30) | Q2 FY2026 (2025-09-30) | Q3 FY2026 (2025-12-31) | Q4 FY2026 (2026-03-31) | Q1 FY2027 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [575](/filings/0001302215-25-000111.md) | [634](/filings/0001302215-26-000007.md) | [666 d](/filings/0001302215-26-000053.md) | [605](/filings/0001302215-26-000067.md) | [659](/filings/0001302215-25-000111.md) | [717](/filings/0001302215-26-000007.md) | [636 d](/filings/0001302215-26-000053.md) | [511](/filings/0001302215-26-000067.md) |
| Gross margin | % | [33.0%](/filings/0001302215-25-000111.md) | [31.4%](/filings/0001302215-26-000007.md) | [33.9% d](/filings/0001302215-25-000024.md) | [31.1%](/filings/0001302215-26-000067.md) | [33.8%](/filings/0001302215-25-000111.md) | [32.2%](/filings/0001302215-26-000007.md) | not reported | [30.1%](/filings/0001302215-26-000067.md) |
| Operating margin | % | [22.7%](/filings/0001302215-25-000111.md) | [21.5%](/filings/0001302215-26-000007.md) | [21.2% d](/filings/0001302215-26-000053.md) | [14.9%](/filings/0001302215-26-000067.md) | [22.9%](/filings/0001302215-25-000111.md) | [22.4%](/filings/0001302215-26-000007.md) | [19.7% d](/filings/0001302215-26-000053.md) | [15.3%](/filings/0001302215-26-000067.md) |
| Net margin | % | [16.3%](/filings/0001302215-25-000111.md) | [15.0%](/filings/0001302215-26-000007.md) | [18.3% d](/filings/0001302215-26-000053.md) | [16.2%](/filings/0001302215-26-000067.md) | [17.0%](/filings/0001302215-25-000111.md) | [16.3%](/filings/0001302215-26-000007.md) | [15.7% d](/filings/0001302215-26-000053.md) | [15.3%](/filings/0001302215-26-000067.md) |
| Diluted EPS | $ per share | [1.37](/filings/0001302215-25-000111.md) | [1.39](/filings/0001302215-26-000007.md) | not reported | [1.42](/filings/0001302215-26-000067.md) | [1.63](/filings/0001302215-25-000111.md) | [1.70](/filings/0001302215-26-000007.md) | not reported | [1.15](/filings/0001302215-26-000067.md) |
| Free cash flow | $m | [279 d](/filings/0001302215-25-000111.md) | [262 d](/filings/0001302215-26-000007.md) | [344 d](/filings/0001302215-26-000053.md) | [(145)](/filings/0001302215-26-000067.md) | [323 d](/filings/0001302215-25-000111.md) | [217 d](/filings/0001302215-26-000007.md) | [287 d](/filings/0001302215-26-000053.md) | [(342)](/filings/0001302215-26-000067.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 6-month figure less the 3-month figure; 9-month figure less the 6-month figure; 12-month figure less the 9-month figure.

## Last five fiscal years

| Line item | Unit | FY2022 (2022-03-31) | FY2023 (2023-03-31) | FY2024 (2024-03-31) | FY2025 (2025-03-31) | FY2026 (2026-03-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [2,270](/filings/0001302215-24-000028.md) | [1,809](/filings/0001302215-25-000024.md) | [1,914](/filings/0001302215-26-000053.md) | [2,389](/filings/0001302215-26-000053.md) | [2,618](/filings/0001302215-26-000053.md) |
| Gross margin | % | [35.0%](/filings/0001302215-24-000028.md) | [30.8%](/filings/0001302215-25-000024.md) | [29.8%](/filings/0001302215-25-000024.md) | [32.3%](/filings/0001302215-25-000024.md) | not reported |
| Operating margin | % | [27.0%](/filings/0001302215-24-000028.md) | [18.9%](/filings/0001302215-25-000024.md) | [19.5%](/filings/0001302215-26-000053.md) | [21.0%](/filings/0001302215-26-000053.md) | [20.1%](/filings/0001302215-26-000053.md) |
| Net margin | % | [19.3%](/filings/0001302215-24-000028.md) | [14.0%](/filings/0001302215-25-000024.md) | [14.6%](/filings/0001302215-26-000053.md) | [16.7%](/filings/0001302215-26-000053.md) | [16.3%](/filings/0001302215-26-000053.md) |
| Diluted EPS | $ per share | [6.41](/filings/0001302215-24-000028.md) | [3.76](/filings/0001302215-25-000024.md) | [4.11](/filings/0001302215-26-000053.md) | [5.82](/filings/0001302215-26-000053.md) | [6.22](/filings/0001302215-26-000053.md) |
| Free cash flow | $m | [728](/filings/0001302215-24-000028.md) | [85.5](/filings/0001302215-25-000024.md) | [262](/filings/0001302215-26-000053.md) | [809](/filings/0001302215-26-000053.md) | [682](/filings/0001302215-26-000053.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/hli/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $702.9m | 5,240,406 |  | Reduced −40,394 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $372.1m | 2,774,115 |  | Reduced −4,295 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $327.2m | 2,439,724 |  | Added +20,392 |
| [KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC](/funds/1021223.md) | 2026-06-30 | $325.5m | 2,426,619 |  | Reduced −215,527 |
| [EARNEST PARTNERS LLC](/funds/1102578.md) | 2026-06-30 | $291.4m | 2,172,720 |  | Reduced −56,264 |
| [ROYAL BANK OF CANADA](/funds/1000275.md) | 2026-06-30 | $267.2m | 1,992,096 |  | Added +240,601 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $234.7m | 1,749,472 |  | Added +55,776 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $226.7m | 1,690,245 |  | Added +98,236 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $185.7m | 1,383,912 |  | Added +32,703 |
| [BANK OF MONTREAL /CAN/](/funds/927971.md) | 2026-06-30 | $174.5m | 1,300,687 |  | Added +151,088 |

## Recent filings

[All 813 filings](/companies/hli/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-30 | 16:41 ET | [10-Q](/filings/0001302215-26-000074.md) | Quarterly report, period 2026-09-30 | 0001302215-26-000074 |
| 2026-10-28 | 16:34 ET | [8-K](/filings/0001302215-26-000071.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001302215-26-000071 |
| 2026-10-05 | 17:08 ET | [8-K](/filings/0001193125-26-414411.md) | 5.02 Departure or appointment of officers or directors | 0001193125-26-414411 |
| 2026-09-22 | 17:15 ET | [8-K](/filings/0001193125-26-398130.md) | 5.02 Departure or appointment of officers or directors; 5.07 Shareholder vote results; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001193125-26-398130 |
| 2026-09-08 | 16:01 ET | [8-K](/filings/0001193125-26-385184.md) | 5.02 Departure or appointment of officers or directors | 0001193125-26-385184 |
| 2026-08-13 | 17:19 ET | [8-K](/filings/0001193125-26-349634.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0001193125-26-349634 |
| 2026-07-31 | 16:40 ET | [10-Q](/filings/0001302215-26-000067.md) | Quarterly report, period 2026-06-30 | 0001302215-26-000067 |
| 2026-07-30 | 19:08 ET | [8-K](/filings/0001302215-26-000063.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001302215-26-000063 |
| 2026-07-24 | 16:48 ET | [DEF 14A](/filings/0001302215-26-000059.md) | Proxy statement, period 2026-09-16 | 0001302215-26-000059 |
| 2026-05-22 | 16:43 ET | [10-K](/filings/0001302215-26-000053.md) | Annual report, period 2026-03-31 | 0001302215-26-000053 |

## Latest annual report

[Form 10-K for the fiscal year ended Mar 31, 2026](/filings/0001302215-26-000053.md), filed May 22, 2026.

## Forecast league

Q2 FY2027, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/17edbf37-3208-4296-a299-2897bd2c4766)

## About the filer

- CIK: 1302215
- Tickers: HLI
- Exchange: NYSE
- SIC code: 6282 Investment Advice
- State of incorporation: not reported
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 30, 2026, 16:52 ET. No prices; not investment advice.