Houlihan Lokey, Inc. (HLI) SEC Filings & Earnings Calls
EquiReason read 17 Houlihan Lokey, Inc. SEC filings in the last 12 months. Latest: 8-K on 2026-10-05 — Director Todd J. Carter resigned effective immediately; no disagreement with company operations, policies, or practices..
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
HLIHoulihan Lokey, Inc.Follow HLI — free
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- Market cap
- 9.2B
- P/E TTM
- 22.0
- Dividend yield
- 2.0%
- 52-week
- —
- Next earnings
- 28 Oct, in 4 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
5 Oct 20268-K · 5.02Director Todd J. Carter resigned effective immediately; no disagreement with company operations, policies, or practices.open
Risks flagged
Board departure may signal governance transition, but no disagreement cited.
“Resignation effective immediately; no disagreement with operations, policies, or practices.”
22 Sep 20268-K · 5.02, 5.07, 7.01Houlihan Lokey appoints Prabha Sipi Bhandari as Chief Legal Officer and Secretary; Christopher Crain transitions to Corporate Senior Advisor.SEC ↗
8 Sep 20268-K · 5.02Houlihan Lokey director Gillian B. Zucker will not stand for reelection at 2026 annual meeting; no disagreement with company. Routine board departure.SEC ↗
13 Aug 20268-K · 8.01Houlihan Lokey filed a prospectus supplement for resale of shares related to prior acquisitions; routine registration.SEC ↗
31 Jul 202610-QHoulihan Lokey reported Q1 FY2027 revenue of $511M, down 16% YoY, with mixed segment performance.earningsopen
Figures in the filing · each found in the filing text
| Revenues · Q1-2027 | $511M | -16% y/y |
| Net income attributable to Houlihan Lokey, Inc. · Q1-2027 | $78M | -20% y/y |
| Compensation Ratio · Q1-2027 | 64.3% | |
| Corporate Finance Revenues · Corporate Finance · Q1-2027 | $303M | -24% y/y |
| Financial Restructuring Revenues · Financial Restructuring · Q1-2027 | $119M | -7% y/y |
| Financial and Valuation Advisory Revenues · Financial and Valuation Advisory · Q1-2027 | $89M | +13% y/y |
| Corporate Finance Segment Profit · Corporate Finance · Q1-2027 | $89M | -30% y/y |
| Financial Restructuring Segment Profit · Financial Restructuring · Q1-2027 | $42M | -2% y/y |
| Financial and Valuation Advisory Segment Profit · Financial and Valuation Advisory · Q1-2027 | $23M | +28% y/y |
| Cash and cash equivalents · 2026-06-30 | $745M | -37% y/y |
Risks flagged
M&A Advisory Revenue Decline
“Revenues for CF were $303 million for the three months ended June 30, 2026, compared with $398 million for the three months ended June 30, 2025, representing a decrease of (24)%.” · word for word
30 Jul 20268-K · 2.02Revenue $511M (-16% y/y); net income attributable to Houlihan Lokey $78M (-20% y/y); adjusted diluted EPS $1.35 (-37% y/y)earningsopen
Figures in the filing · each found in the filing text
| revenue · Q1-2027 | $511M | -16% y/y |
| net income attributable to Houlihan Lokey · Q1-2027 | $78M | -20% y/y |
| adjusted diluted EPS · Q1-2027 | $1.35 | -37% y/y |
| Corporate Finance revenue · Corporate Finance · Q1-2027 | $303M | -24% y/y |
| Financial Restructuring revenue · Financial Restructuring · Q1-2027 | $119M | -7% y/y |
| dividend per share · Q2-2027 | $0.70 | |
| number of closed transactions (CF) · Corporate Finance · Q1-2027 | 127 | +2% y/y |
| number of Managing Directors (CF) · Corporate Finance · Q1-2027 | 260 | +7% y/y |
Risks flagged
Corporate Finance revenue decline driven by Middle East instability and tech sector disruptions; management views as temporary but uncertainty remains.
“ongoing headwinds in our Corporate Finance business which started last quarter, including instability in the Middle East and disruptions in the technology sector, specifically in software.” · word for word
24 Jul 2026DEF 14AHoulihan Lokey filed its definitive proxy statement for the 2026 annual meeting, disclosing executive compensation, governance practices, and seeking shareholder approval for the Second Amended and Restated 2016 Incentive Award Plan.open
Figures in the filing · each found in the filing text
| Revenue · FY2026 | $2.62B | +10% y/y |
| Net income · FY2026 | $424M | |
| Total Shareholder Return · FY2026 | $237.00 |
Risks flagged
Controlled company governance risk
“The HL Voting Trust controls a majority of the voting power of our outstanding common stock. As a result, we are a 'controlled company' under the rules of the New York Stock Exchange.” · word for word
Key person dependency
“Our named executive officers for the fiscal year ended March 31, 2026 (the 'NEOs' or 'named executive officers') are: Scott J. Adelson, Chief Executive Officer; J. Lindsey Alley, Chief Financial Officer; Scott L. Beiser, Co-Chairman; Christopher M. Crain, General Counsel and Secretary; and P. Eric Siegert, Co-Chairman” · word for word
22 May 202610-KInternational Revenue Percentage 32.2; Number of Employees 2,800 (+4% y/y); Goodwill and Intangible Assets $1.60Bopen
Figures in the filing · each found in the filing text
| International Revenue Percentage · FY2026 | 32.2% | |
| Number of Employees · 2026-03-31 | 2,800 | +4% y/y |
| Goodwill and Intangible Assets · 2026-03-31 | $1.60B | |
| Net Bad Debt Expense · FY2026 | $8M | -17% y/y |
| Number of Managing Directors - CF · Corporate Finance · 2026-03-31 | 251 | |
| Number of Managing Directors - FR · Financial Restructuring · 2026-03-31 | 59 | |
| Number of Managing Directors - FVA · Financial and Valuation Advisory · 2026-03-31 | 44 | |
| Employee Shareholders Percentage · 2026-03-31 | 21.0% |
Risks flagged
Market Condition Sensitivity
“Changing market conditions can adversely affect our business in many ways, including by reducing the volume and/or size of the transactions we advise on, which could materially reduce our revenue.” · word for word
Key Personnel Dependence
“We depend on the efforts and reputations of our senior management and financial professionals.” · word for word
Goodwill Impairment Risk
“Goodwill and other intangible assets represent a significant portion of our assets, and totaled $1.60 billion as of March 31, 2026.” · word for word
Cybersecurity Threat
“We face numerous, evolving cybersecurity threats to our IT systems and information.” · word for word
7 May 20268-K · 2.02Revenue $2.62B (+10% y/y); Diluted EPS $6.22; Adjusted Diluted EPS $7.56earningsopen
Figures in the filing · each found in the filing text
| Revenue · FY2026 | $2.62B | +10% y/y |
| Diluted EPS · FY2026 | $6.22 | |
| Adjusted Diluted EPS · FY2026 | $7.56 | |
| Net income attributable to Houlihan Lokey · FY2026 | $426M | +7% y/y |
| Corporate Finance revenue · Corporate Finance · FY2026 | $1.74B | +14% y/y |
| Financial Restructuring revenue · Financial Restructuring · FY2026 | $529M | -3% y/y |
| Financial and Valuation Advisory revenue · Financial and Valuation Advisory · FY2026 | $344M | +8% y/y |
| Q4 Revenue · Q4-2026 | $636M | -5% y/y |
| Q4 Diluted EPS · Q4-2026 | $1.47 | |
| Q4 Adjusted Diluted EPS · Q4-2026 | $1.63 |
Risks flagged
Market uncertainty entering fiscal 2027 could impact deal flow and advisory demand.
“Although there is some uncertainty in the market as we enter fiscal 2027.” · word for word
Financial Restructuring segment declining, indicating potential normalization of distressed activity.
“Financial Restructuring revenues decreased (3)%.”
25 Feb 20268-K · 8.01Disclosed a material event under other events (litigation, recall, contract loss, or major announcement); filed financial statements and exhibits with this reportopen
Risks flagged
Potential dilution from conversion of Class B shares and resale of Class A common stock.
“Registration of up to 32,421 shares for resale by former owners of Waller Helms Advisors and 7 Mile Advisors.”
3 Feb 202610-QHoulihan Lokey reported Q3 revenue of $717.1M, up 13% YoY, and net income up 22% YoY, driven by strong M&A advisory activity.earningsopen
Figures in the filing · each found in the filing text
| Revenues · Q3-2026 | $717M | +13% y/y |
| Net income · Q3-2026 | $117M | +22% y/y |
| Corporate Finance revenue · Corporate Finance · Q3-2026 | $474M | +12% y/y |
| Financial Restructuring revenue · Financial Restructuring · Q3-2026 | $156M | +19% y/y |
| Financial and Valuation Advisory revenue · Financial and Valuation Advisory · Q3-2026 | $87M | +6% y/y |
| Compensation Ratio · Q3-2026 | 64.0% |
29 Jan 20268-K · 2.02Revenues $717M (+13% y/y); Diluted earnings per share $1.70 (+22% y/y); Adjusted diluted earnings per share $1.94 (+18% y/y)earningsopen
Figures in the filing · each found in the filing text
| Revenues · Q3-2026 | $717M | +13% y/y |
| Diluted earnings per share · Q3-2026 | $1.70 | +22% y/y |
| Adjusted diluted earnings per share · Q3-2026 | $1.94 | +18% y/y |
| Corporate Finance revenues · Corporate Finance · Q3-2026 | $474M | +12% y/y |
| Financial Restructuring revenues · Financial Restructuring · Q3-2026 | $156M | +19% y/y |
| Financial and Valuation Advisory revenues · Financial and Valuation Advisory · Q3-2026 | $87M | +6% y/y |
| Net income · Q3-2026 | $117M | +22% y/y |
| Dividend per share · Q4-2026 | $0.60 |
29 Jan 20268-K · 5.02Reported a director or officer change (departure, election, appointment or pay arrangement)SEC ↗
30 Dec 20258-K · 1.01Entered a material definitive agreement (acquisition, partnership, or major contract); filed financial statements and exhibits with this reportSEC ↗
4 Nov 202510-QHoulihan Lokey reported Q3 2025 revenue of $659.5M (+15% YoY) and net income of $111.8M (+19% YoY), driven by strong M&A advisory activity.earningsopen
Figures in the filing · each found in the filing text
| Revenues · Q3-2025 | $659M | +15% y/y |
| Net Income · Q3-2025 | $112M | +19% y/y |
| Corporate Finance Revenue · Corporate Finance · Q3-2025 | $439M | +21% y/y |
| Financial Restructuring Revenue · Financial Restructuring · Q3-2025 | $134M | +2% y/y |
| Financial and Valuation Advisory Revenue · Financial and Valuation Advisory · Q3-2025 | $87M | +10% y/y |
| Corporate Finance Closed Transactions · Corporate Finance · Q3-2025 | 171 | +31% y/y |
| Financial Restructuring Closed Transactions · Financial Restructuring · Q3-2025 | 37 | +12% y/y |
| FVA Fee Events · Financial and Valuation Advisory · Q3-2025 | 1,075 | +19% y/y |
Risks flagged
Compensation Cost Pressure
“Compensation Ratio was 64.2% for the three months ended September 30, 2025, compared with 62.7% for the three months ended September 30, 2024.” · word for word
Corporate Expense Growth
“Corporate expenses were $71.5 million for the three months ended September 30, 2025, compared with $59.3 million for the three months ended September 30, 2024, a 21% increase.” · word for word
31 Oct 20258-K · 2.02Revenues $659M (+15% y/y); Net income $112M (+20% y/y); Adjusted net income $127M (+27% y/y)earningsopen
Figures in the filing · each found in the filing text
| Revenues · Q2-2026 | $659M | +15% y/y |
| Net income · Q2-2026 | $112M | +20% y/y |
| Adjusted net income · Q2-2026 | $127M | +27% y/y |
| Adjusted diluted EPS · Q2-2026 | $1.84 | +26% y/y |
| Corporate Finance revenues · Corporate Finance · Q2-2026 | $439M | +21% y/y |
| Financial Restructuring revenues · Financial Restructuring · Q2-2026 | $134M | +2% y/y |
| Financial and Valuation Advisory revenues · Financial and Valuation Advisory · Q2-2026 | $87M | +10% y/y |
Houlihan Lokey, Inc. — questions
- What did Houlihan Lokey, Inc. file recently?
- 17 SEC filings in the last 12 months. Latest: 8-K on 2026-10-05 — Director Todd J. Carter resigned effective immediately; no disagreement with company operations, policies, or practices.
Every figure on this page comes from Houlihan Lokey, Inc.'s own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.