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Houlihan Lokey HLI Operating margin

Operating margin at other companies

Lazard logo
LazardLAZ
9.5%-4.1pp
Perella Weinberg Partners logo
Perella Weinberg PartnersPWP
3.4%
FTI Consulting logo
FTI ConsultingFCN
9.7%+0.9pp
Oppenheimer Holdings logo
Oppenheimer HoldingsOPY
8.3%+0.7pp
CRA International logo
CRA InternationalCRAI
10%-1.9pp

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
Net margin16.3%-0.5pp
FCF margin26%-7.8pp

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

Filed
May 22, 2026, 4:43 PM EDT
Fiscal year
FY2026
Accession
0001302215-26-000053

FAQ

What is Houlihan Lokey's operating margin?
Houlihan Lokey (HLI) reported operating margin of 20.1% in Q1 2026.
How has Houlihan Lokey's operating margin changed year-over-year?
Houlihan Lokey's operating margin decreased by 4.3% year-over-year, from 21% to 20.1%.
What is the long-term trend for Houlihan Lokey's operating margin?
Over 5 years (2021 to 2026), Houlihan Lokey's operating margin has grown at a -5.5% compound annual growth rate (CAGR), from 26.8% to 20.1%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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