Houlihan Lokey Inc.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.62B | $2.39B | $1.91B | $1.81B | $2.27B | $1.53B | $1.16B | $1.08B |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | $772.3M | $571.1M | $557.1M | $795.3M | $521.4M | $322.5M | $306.0M |
| Gross Margin | — | 32.3% | 29.8% | 30.8% | 35.0% | 34.2% | 27.8% | 28.2% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | — | — | — | — | — | — | — |
| Operating Income | $527.0M | $502.6M | $373.2M | $341.7M | $612.9M | $408.2M | $229.6M | $219.1M |
| Operating Margin | 20.1% | 21.0% | 19.5% | 18.9% | 27.0% | 26.8% | 19.8% | 20.2% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $562.3M | $531.3M | $390.5M | $324.0M | $603.9M | $409.2M | $235.6M | $224.3M |
| Income Tax Expense | $138.1M | $131.6M | $110.2M | $69.8M | $165.6M | $96.5M | $51.9M | $65.2M |
| Net Income | $425.7M | $399.7M | $280.3M | $254.2M | $437.8M | $312.8M | $183.8M | $159.1M |
| Net Margin | 16.3% | 16.7% | 14.6% | 14.0% | 19.3% | 20.5% | 15.9% | 14.7% |
| EPS (Basic) | $6.40 | $6.08 | $4.36 | $4.01 | $6.74 | $4.75 | $2.96 | $2.56 |
| EPS (Diluted) | $6.22 | $5.82 | $4.11 | $3.76 | $6.41 | $4.55 | $2.80 | $2.42 |
| Shares Outstanding (Basic) | 66.5M | 65.7M | 64.3M | 63.4M | 65.0M | 65.8M | 62.2M | 62.2M |
| Shares Outstanding (Diluted) | 68.4M | 68.7M | 68.2M | 67.6M | 68.3M | 68.7M | 65.7M | 65.8M |
| Dividends Per Share | — | — | — | — | — | — | — | — |