HOULIHAN LOKEY, INC. (HLI) Financial Statements

Income statement

Metric	TTM	2026	2025	2024	2023
Revenue
Total Revenue	2.6B	2.6B	2.4B	1.9B	1.8B
Cost of Revenue	803.0M	42.6M	1.5B	1.2B	1.1B
Gross Profit	1.8B	2.6B	919.9M	737.0M	696.6M
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	596.6M	—	188.5M	185.3M	142.9M
General & Admin Expense	596.6M	—	188.5M	185.3M	142.9M
Selling & Marketing Expense	—	—	—	—	—
Other Expenses	602.7M	2.0B	229.9M	188.9M	212.0M
Total Operating Expenses	1.2B	2.0B	418.4M	374.2M	354.9M
Cost and Expenses	2.0B	2.0B	1.9B	1.6B	1.5B
Operating Income (EBIT)	553.3M	618.5M	501.5M	362.9M	341.7M
Non-Operating
Interest Income	—	—	—	—	—
Interest Expense	—	—	—	—	—
Net Interest Income	—	—	—	—	—
Other Non-Op Income/Expense	(4.1M)	(56.3M)	29.8M	27.7M	(17.7M)
Non-Operating Income (excl Interest)	3.5M	56.3M	(54.8M)	(36.2M)	(35.1M)
EBT (Pre-Tax Income)	549.2M	562.3M	531.3M	390.5M	324.0M
Income Tax Expense	146.3M	138.1M	131.6M	110.2M	69.8M
Bottom Line
Net Income	403.4M	425.7M	399.7M	280.3M	254.2M
Earnings from Cont. Ops	402.9M	424.2M	399.7M	280.3M	254.2M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	403.4M	425.7M	399.7M	280.3M	254.2M
Per Share
Basic EPS	$6.06	$6.40	$6.08	$4.36	$4.01
Diluted EPS	$5.96	$6.22	$5.82	$4.11	$3.76
Revenue Per Share	$38.37	$39.33	$36.36	$29.76	$28.56
Shares
Basic Shares Outstanding	66.6M	66.5M	65.7M	64.3M	63.4M
Diluted Shares Outstanding	67.0M	68.4M	68.7M	68.2M	67.6M
Profitability Metrics
EBITDA	584.2M	604.9M	597.6M	427.6M	435.0M
D&A	34.3M	42.6M	41.3M	28.5M	58.2M
EBIT	549.8M	562.3M	556.3M	399.1M	376.8M

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Sep 1, 2026