What are Houlihan Lokey's profit margins?

Houlihan Lokey (HLI) runs a 32.8% gross margin and a 20.1% operating margin, with a 16.3% net margin.

Where do Houlihan Lokey's ratios come from?

Every ratio is computed from Houlihan Lokey's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Houlihan Lokey HLI Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q4 '26	Q3 '26	Q2 '26	Q1 '26	Q4 '25
Profitability
Operating margin	20.1%-0.9pp	20.5%-0.7pp	20.2%-0.3pp	20.1%+0.4pp	21%+1.5pp
Net margin	16.3%-0.5pp	16.9%+0.9pp	16.6%+0.9pp	16.5%+1.2pp	16.7%+2.1pp
EBITDA margin	21.8%-1.0pp	22.4%-0.3pp	22.2%+0.2pp	22%+0.9pp	22.8%+1.8pp
Free cash flow margin	26%-7.8pp	27.9%-2.3pp	30.5%+6.9pp	29.8%+13.1pp	33.9%+20.2pp
Returns
Return on assets	10.5%-1.0pp	12.1%+0.9pp	12.2%+1.0pp	12.6%+1.7pp	11.4%+2.3pp
Efficiency
Asset turnover	0.6×0.0×	0.7×0.0×	0.7×0.0×	0.8×+0.1×	0.7×+0.1×
Leverage
Debt-to-assets	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Net debt / EBITDA	-1.2×-0.2×	-0.9×-0.2×	-0.9×-0.3×	-0.6×-0.6×	-1×-0.2×
Valuation
Market capitalization	$10.02B-11.5%	$12.21B+0.2%	$14.44B+31.4%	$12.55B+35.7%	$11.33B+27.9%
Enterprise value	$9.33B-13.6%	$11.65B-1.5%	$13.95B+30.1%	$12.2B+32.1%	$10.8B+26.2%
Price / earnings	23.5×-4.8×	27.3×-6.7×	33.8×+1.0×	30.7×+0.7×	28.3×-3.3×
Price / sales	3.8×-0.9×	4.6×-0.8×	5.6×+0.4×	5.1×+0.5×	4.7×+0.1×
EV / EBITDA	16.4×-3.5×	19.6×-3.6×	24.5×+1.5×	22.3×+0.6×	19.9×-1.4×
EV / sales	3.6×-1.0×	4.4×-0.9×	5.4×+0.4×	4.9×+0.3×	4.5×0.0×
Free cash flow yield	6.8%-0.3pp	6.1%+0.5pp	5.4%+0.9pp	5.9%+2.3pp	7.1%+4.2pp
Earnings yield	4.2%+0.7pp	3.7%+0.7pp	3%-0.1pp	3.3%-0.1pp	3.5%+0.4pp
Dividend yield	1.7%+0.3pp	1.4%+0.1pp	1.2%-0.3pp	1.3%-0.4pp	1.5%-0.2pp
PEG ratio	3.6×+3.0×	1.1×+0.2×	1.2×+0.2×	0.9×-0.2×	0.7×-2.4×

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Questions, answered.

What are Houlihan Lokey's profit margins?: Houlihan Lokey (HLI) runs a 32.8% gross margin and a 20.1% operating margin, with a 16.3% net margin.
Where do Houlihan Lokey's ratios come from?: Every ratio is computed from Houlihan Lokey's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.