In fiscal 2026, which ended Mar 31, 2026, Houlihan Lokey, Inc. reported revenue of $2.6 billion, up 9.5% from the year before. Net income was $425.7 million, a profit margin of 16.3%. Operating income came to $527.0 million, an operating margin of 20.1%. Diluted earnings per share were $6.22. Over the twelve months ended Sep 30, 2026, revenue was $2.6 billion and net income was $403.7 million. Across the 8 fiscal years shown, revenue grew from $1.1 billion in fiscal 2019 to $2.6 billion in fiscal 2026, about 13.4% a year.
USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.
| Line |
FY 2027
Sep 30, 2026
|
FY 2026
Mar 31, 2026
|
FY 2025
Mar 31, 2025
|
FY 2024
Mar 31, 2024
|
FY 2023
Mar 31, 2023
|
FY 2022
Mar 31, 2022
|
FY 2021
Mar 31, 2021
|
FY 2020
Mar 31, 2020
|
FY 2019
Mar 31, 2019
|
|---|---|---|---|---|---|---|---|---|---|
| Revenue |
2,556
-0.4%
|
2,618
+9.5%
|
2,389
+24.8%
|
1,914
+5.8%
|
1,809
-20.3%
|
2,270
+48.8%
|
1,525
+31.6%
|
1,159
+6.9%
|
1,084
|
| Gross profit |
—
|
—
|
772
+35.2%
|
571
+2.5%
|
557
-30.0%
|
795
+52.5%
|
521
+61.6%
|
323
+5.4%
|
306
+10.2%
|
| Operating income |
518
-0.0%
|
527
+4.9%
|
503
+34.7%
|
373
+9.2%
|
342
-44.2%
|
613
+50.2%
|
408
+77.8%
|
230
+4.8%
|
219
+2.2%
|
| Other income (expense) |
31
-11.3%
|
35
+22.5%
|
29
+66.2%
|
17
+197.6%
|
-18
-98.7%
|
-9
-933.4%
|
1
-82.3%
|
6
+15.8%
|
5
+52.6%
|
| Pretax income |
549
-0.7%
|
562
+5.8%
|
531
+36.1%
|
391
+20.5%
|
324
-46.4%
|
604
+47.6%
|
409
+73.7%
|
236
+5.0%
|
224
+3.0%
|
| Income tax |
146
+14.9%
|
138
+4.9%
|
132
+19.4%
|
110
+58.0%
|
70
-57.9%
|
166
+71.7%
|
96
+86.0%
|
52
-20.5%
|
65
+43.2%
|
| Net income |
404
-5.3%
|
426
+6.5%
|
400
+42.6%
|
280
+10.3%
|
254
-41.9%
|
438
|
—
|
—
|
—
|
| Basic EPS |
6.07
-5.6%
|
6.40
+5.3%
|
6.08
+39.4%
|
4.36
+8.7%
|
4.01
-40.5%
|
6.74
+41.9%
|
4.75
+60.5%
|
2.96
+15.6%
|
2.56
-7.2%
|
| Diluted EPS |
5.96
-3.7%
|
6.22
+6.9%
|
5.82
+41.6%
|
4.11
+9.3%
|
3.76
-41.3%
|
6.41
+40.9%
|
4.55
+62.5%
|
2.80
+15.7%
|
2.42
-6.9%
|
| Weighted average shares, basic |
67
+0.4%
|
67
+1.3%
|
66
+2.2%
|
64
+1.5%
|
63
-2.5%
|
65
-1.2%
|
66
+5.8%
|
62
-0.1%
|
62
-0.4%
|
| Weighted average shares, diluted |
68
-1.7%
|
68
-0.3%
|
69
+0.7%
|
68
+0.8%
|
68
-1.0%
|
68
-0.6%
|
69
+4.5%
|
66
-0.2%
|
66
-0.7%
|
| Other measures | |||||||||
| Depreciation and amortization |
35
-32.1%
|
43
+3.3%
|
41
+44.6%
|
29
-51.0%
|
58
+20.0%
|
49
+218.7%
|
15
-11.9%
|
17
+19.5%
|
14
+83.1%
|
| EBITDA |
553
-2.9%
|
570
+4.7%
|
544
+35.4%
|
402
+0.5%
|
400
-39.5%
|
661
+56.2%
|
423
+71.5%
|
247
+5.7%
|
234
+5.1%
|
| Margins | |||||||||
| Gross margin |
—
|
—
|
32.32%
|
29.83%
|
30.79%
|
35.04%
|
34.18%
|
27.82%
|
28.22%
|
| Operating margin |
20.27%
|
20.13%
|
21.03%
|
19.50%
|
18.89%
|
27.00%
|
26.76%
|
19.80%
|
20.20%
|
| Pretax margin |
21.49%
|
21.48%
|
22.24%
|
20.40%
|
17.91%
|
26.61%
|
26.83%
|
20.33%
|
20.69%
|
| Profit margin |
15.80%
|
16.26%
|
16.73%
|
14.64%
|
14.05%
|
19.28%
|
—
|
—
|
—
|
| EBITDA margin |
21.63%
|
21.76%
|
22.76%
|
20.99%
|
22.10%
|
29.14%
|
27.75%
|
21.30%
|
21.54%
|
| Effective tax rate |
26.60%
|
24.56%
|
24.77%
|
28.23%
|
21.54%
|
27.42%
|
23.57%
|
22.00%
|
29.07%
|
How these figures are calculated
Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. The first column is the trailing twelve months through the latest quarter. More on our methodology.
New to this? Read How to Read an Income Statement, With a Real Example.
Company profile
- Industry
- Investment Advice (SIC 6282)
- Listed as
- HLI (NYSE)
- Fiscal year ends
- March 31
- Headquarters
- Los Angeles, CA
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1302215
- Former names
- HOULIHAN LOKEY HOWARD & ZUKIN INC (until May 8, 2015)
Other Investment Advice companies
Source: SEC EDGAR filings. This is company-reported data, not investment advice.