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Houlihan Lokey HLI Acquisitions

Acquisitions at other companies

Lazard logo
LazardLAZ
-$46.41M
Perella Weinberg Partners logo
Perella Weinberg PartnersPWP
$4.71M
Piper Sandler logo
Piper SandlerPIPR
$1.15M
Oppenheimer Holdings logo
Oppenheimer HoldingsOPY
$0-100%

Other financials

Income statement

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Revenue$635.6M-4.6%
Gross profit$230.7M+15.9%
Operating income$125.1M-11.3%
Net income$99.8M-18.1%
EPS (diluted)$1.48-16.4%

Balance sheet

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Cash & equivalents$1.2B+22.5%
Total debt$492.1M+12.3%
Total assets$4.3B+12.8%

Cash flow

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Operating cash flow$293.0M-18.2%
CapEx$6.3M-56.8%
Free cash flow$286.8M-16.6%

Valuation

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Market cap$8.96B-33.6%
Enterprise value$8.26B-37.2%
P/E21×-12.0×
P/S3.4×-2.0×

Profitability

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Gross margin32.8%+1.4pp
Operating margin20.1%-0.9pp
Net margin16.3%-0.5pp
FCF margin26%-7.8pp

Returns & leverage

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Return on equity9.5%

Where this comes from

Reported directly by Houlihan Lokey in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired.

The source filing: Houlihan Lokey’s 10-K, filed May 22, 2026.

Filed
May 22, 2026, 4:43 PM EDT
Fiscal year
FY2026
Accession
0001302215-26-000053
(In thousands)Year Ended March 31, 2026Year Ended March 31, 2025Year Ended March 31, 2024
Cash flows from investing activities:
Purchases of investment securities(263,299)(250,476)(11,278)
Sales or maturities of investment securities290,32694,30511,458
Acquisition of businesses, net of cash acquired(2,539)(69,188)(3,856)
Capital expenditures(22,312)(39,699)(66,730)
Net cash provided by/(used in) investing activities2,176(265,058)(70,406)
Cash flows from financing activities:
Dividends paid(174,037)(165,217)(148,454)

Item 8. Financial Statements and Supplementary Data

FAQ

What is Houlihan Lokey's acquisitions?
Houlihan Lokey (HLI) reported acquisitions of $1.81M in Q1 2026.
How has Houlihan Lokey's acquisitions changed year-over-year?
Houlihan Lokey's acquisitions increased by 279.5% year-over-year, from $478K to $1.81M.
What does acquisitions mean?
Cash paid for business acquisitions net of cash acquired in the target company — the primary M&A cash flow line.

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