Stocktoria

HOULIHAN LOKEY, INC. HLI

NYSE · stock · Investment Advice · website · IPO 2015-08-13 · LEI

HOULIHAN LOKEY, INC. statistics & valuation

Market cap$9.6B
P / E22.6×
P / S3.7×
P / B4.1×
P / FCF14.1×
Dividend yield1.81%
Net margin16.3%
Return on equity18.2%
FCF margin26.0%
Graham number -43.9%$69.21

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($69.21); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
12.40% 17.90% 15.90% 20.50% 19.30% 14.00% 14.60% 16.70% 16.30% 2017201820192020202120222023202420252026
Gross margin (%)
27.70% 28.80% 28.20% 27.80% 34.20% 35.00% 30.80% 29.80% 32.30% 2017201820192020202120222023202420252026
Operating margin (%)
20.90% 22.30% 20.20% 19.80% 26.80% 27.00% 18.90% 19.50% 21.00% 20.10% 2017201820192020202120222023202420252026
Return on equity (%)
14.90% 20.20% 18.70% 22.60% 30.30% 15.80% 15.30% 18.40% 18.20% 2017201820192020202120222023202420252026
Shares outstanding
66.6M 66.3M 65.8M 65.7M 68.7M 68.3M 67.6M 68.2M 68.7M 68.4M 2017201820192020202120222023202420252026
Net debt ($)
-$267.8M -$194.9M -$254.6M -$343.7M -$791.0M 2017201820192020202120222023202420252026
Share buybacks ($)
2017201820192020202120222023202420252026
Return on assets (%)
7.80% 12.10% 11.00% 12.90% 15.20% 8.60% 8.80% 10.50% 9.90% 2017201820192020202120222023202420252026
Free cash flow margin (%)
27.20% 25.20% 20.10% 23.00% 37.10% 32.10% 4.70% 13.70% 33.90% 26.00% 2017201820192020202120222023202420252026
Debt / equity (×)
0.04× 0.01× 0.03× 0.04× 0.04× 2017201820192020202120222023202420252026
EPS ($)
$1.63 $2.60 $2.42 $2.80 $4.55 $6.41 $3.76 $4.11 $5.82 $6.22 2017201820192020202120222023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

HOULIHAN LOKEY, INC. trades at about 19.8× earnings — near its 10-year norm (10-year range 13×–31×, median 21.2×).

13× 31×

Shaded band = 10-year range (13×–31×); dot = today's 19.8×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Gross margin—32.3%29.8%30.8%35.0%34.2%27.8%28.2%28.8%27.7%
Operating margin20.1%21.0%19.5%18.9%27.0%26.8%19.8%20.2%22.3%20.9%
Net margin16.3%16.7%14.6%14.0%19.3%20.5%15.9%—17.9%12.4%
FCF margin26.0%33.9%13.7%4.7%32.1%37.1%23.0%20.1%25.2%27.2%
Return on assets9.9%10.5%8.8%8.6%15.2%12.9%11.0%—12.1%7.8%
Return on equity18.2%18.4%15.3%15.8%30.3%22.6%18.7%—20.2%14.9%
Debt / equity—————0.04×0.04×0.03×0.01×0.04×

Computed from company filings · US · as of 2026-03-31. Facts plus Stocktoria's own computed scores — not investment advice.