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Houlihan Lokey HLI Q3 2025 earnings

Reported January 28, 2025 · After market close

Revenue estimate$625.7M
EPS estimate$1.50

Next report

Aug 4, 2026 (in a month)
Revenue estimate$632.3M
EPS estimate$1.83

Financials

Q3 2025

Income statement

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Revenue$634.4M+24.1%
Gross profit$199.1M+32.0%
Operating income$136.1M+41.0%
Net income$95.3M+34.6%
EPS (diluted)$1.39+33.7%

Balance sheet

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Cash & equivalents$799.3M+43.9%
Total debt$433.0M+3.1%
Total assets$3.5B+17.5%

Cash flow

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Operating cash flow$265.5M+163%
CapEx$3.9M-75.3%
Free cash flow$261.7M+207%

Valuation & ratios

Q3 2025

Valuation

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Market cap$12.18B+47.0%
Enterprise value$11.82B+44.9%
P/E34×+1.9×
P/S5.4×+0.9×

Profitability

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Gross margin31.4%+0.9pp
Operating margin21.2%+2.1pp
Net margin16%+1.9pp
FCF margin30.2%+15.7pp

Segments

By segment

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Corporate Finance$381.7M+37.9%
Financial Restructuring$136.1M+4.3%
Financial Advisory Services$81.9M+13.6%
Financial and Valuation Advisory$79.5M

By geography

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United States$425.5M

Versus estimates

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Questions, answered.

When did Houlihan Lokey report Q3 2025 earnings?
Houlihan Lokey (HLI) reported Q3 2025 earnings on January 28, 2025 after market close.
What were Houlihan Lokey's Q3 2025 revenue and EPS?
Houlihan Lokey reported revenue of $634.4M and diluted EPS of $1.64 for Q3 2025.
Did Houlihan Lokey beat estimates in Q3 2025?
Revenue beat the consensus estimate of $625.7M by $8.7M. EPS beat the consensus estimate of $1.50 by $0.14.
Where can I find Houlihan Lokey's Q3 2025 SEC filings?
You can read the 10-Q periodic report (0001302215-25-000007) directly on SEC EDGAR. The filing index links above go to sec.gov.