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Houlihan Lokey HLI Non-Cash Lease Expense

Non-Cash Lease Expense at other companies

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$14M+14.7%

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
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:OperatingLeaseRightOfUseAssetAmortizationExpense.

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 non-cash lease expense?
Houlihan Lokey (HLI) reported non-cash lease expense of $13.03M in Q1 2026.
How has Houlihan Lokey's non-cash lease expense changed year-over-year?
Houlihan Lokey's non-cash lease expense increased by 31.9% year-over-year, from $9.88M to $13.03M.
What is the long-term trend for Houlihan Lokey's non-cash lease expense?
Over 4 years (2022 to 2026), Houlihan Lokey's non-cash lease expense has grown at a 5.7% compound annual growth rate (CAGR), from $31.51M to $39.33M.
What does non-cash lease expense mean?
The non-cash portion of lease costs recognized over the life of a rental agreement.
How do you interpret non-cash lease expense?
Stable levels indicate consistent real estate or equipment footprint, while significant changes reflect shifts in office space or operational capacity.
How does non-cash lease expense compare across companies?
Standardized for companies reporting under ASC 842 or IFRS 16.