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Houlihan Lokey HLI Free cash flow margin

Free cash flow margin at other companies

Goldman Sachs Group logo
Goldman Sachs GroupGS
-108.3%
Evercore logo
EvercoreEVR
33.4%+11.8pp
CBRE Group logo
CBRE GroupCBRE
2.1%-1.6pp
Jones Lang LaSalle logo
Jones Lang LaSalleJLL
3.6%
LPL Financial Holdings logo
LPL Financial HoldingsLPLA
-12.5%-13.3pp
Citizens Financial Group logo
Citizens Financial GroupCFG
33.7%+7.3pp

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$9.72B-11.5%
Enterprise value$9.02B-13.6%
P/E22.8×-4.7×
P/S3.7×-0.9×

Profitability

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

Returns & leverage

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Return on equity9.5%

Where this comes from

Calculated from Houlihan Lokey’s reported figures.

Based on trailing twelve months.

The official record: Houlihan Lokey’s 10-K, filed May 22, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Houlihan Lokey's free cash flow margin?
Houlihan Lokey (HLI) reported free cash flow margin of 26% in Q1 2026.
How has Houlihan Lokey's free cash flow margin changed year-over-year?
Houlihan Lokey's free cash flow margin decreased by 23.1% year-over-year, from 33.9% to 26%.
What is the long-term trend for Houlihan Lokey's free cash flow margin?
Over 4 years (2021 to 2026), Houlihan Lokey's free cash flow margin has grown at a -8.5% compound annual growth rate (CAGR), from 37.1% to 26%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.