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Houlihan Lokey HLI Pre-Tax Income

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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:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest.

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, except share and per share data)Year Ended March 31, 2026Year Ended March 31, 2025Year Ended March 31, 2024
Total operating expenses2,090,4971,886,8491,541,170
Operating income527,019502,567373,234
Other (income) expense, net(35,246)(28,768)(17,305)
Income before provision for income taxes562,265531,335390,539
Provision for income taxes138,091131,624110,238
Net income424,174399,711280,301
Net (income) loss attributable to noncontrolling interest1,523
Net income attributable to Houlihan Lokey, Inc.$425,697$399,711$280,301

Item 8. Financial Statements and Supplementary Data

FAQ

What is Houlihan Lokey's pre-tax income?
Houlihan Lokey (HLI) reported pre-tax income of $134.51M in Q1 2026.
How has Houlihan Lokey's pre-tax income changed year-over-year?
Houlihan Lokey's pre-tax income decreased by 10.5% year-over-year, from $150.26M to $134.51M.
What is the long-term trend for Houlihan Lokey's pre-tax income?
Over 4 years (2022 to 2026), Houlihan Lokey's pre-tax income has grown at a -1.8% compound annual growth rate (CAGR), from $603.94M to $562.27M.
What does pre-tax income mean?
Total income from all sources — operating income plus non-operating items like interest income, investment gains, and other income — before the provision for income taxes.

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