Houlihan Lokey
Advises on transactions, restructurings, valuations, and financial opinions across global markets.
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Profile
Advises corporations, financial sponsors, and government agencies through Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory. Corporate Finance is the largest practice, while the mix of transaction, restructuring, and valuation work spans the Americas, Europe, the Middle East, and Asia-Pacific.
Advises corporations, financial sponsors, and government agencies on transactions, restructurings, valuations, and financial opinions. Corporate Finance is the largest practice, alongside Financial Restructuring and Financial and Valuation Advisory.
Serves clients across the Americas, Europe, the Middle East, and Asia-Pacific through more than 30 offices. The platform grew through organic hiring and acquisitions that added sector expertise, technology advisory scale, and international teams.
Emphasizes independent advice, analytical rigor, senior-level involvement, and cross-practice collaboration. Revenue depends on completed transaction volume, fee levels, transaction mix, restructuring activity, and economic conditions, while professional compensation dominates the cost base.
Company facts
Categories
Key statistics
Year to date −24.6% · Average volume (30d) 856.1K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 3, 2026 | BMO Capital | Reiterate | Outperform | $211 | $145 |
| Jul 30, 2026 | Morgan Stanley | Reiterate | Overweight | $193 | $177 |
| Jul 30, 2026 | Goldman Sachs | Reiterate | Buy | $164 | $148 |
| Jul 10, 2026 | Goldman Sachs | Target | $164 | ||
| Jul 9, 2026 | US Capital Advisors | Target | $187 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q1 FY27 | $1.64 | $1.35 | −17.7% | $602.4M | $511.0M | −15.2% | −7.72% |
| May 6, 2026Q4 FY26 | $1.79 | $1.63 | −8.9% | $679.2M | $635.6M | −6.4% | +4.26% |
| Jan 28, 2026Q3 FY26 | $1.85 | $1.94 | +4.9% | $697.2M | $717.1M | +2.9% | −6.49% |
| Oct 30, 2025Q2 FY26 | $1.68 | $1.84 | +9.5% | $651.8M | $659.5M | +1.2% | −10.14% |
Financial highlights
| 12 quarters | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|
| Revenue | $666.4M | $605.3M | $659.5M | $717.1M | $635.6M | $511.0M | |
| Gross profit | $256.6M | $233.1M | $221.0M | $276.1M | $627.6M | $157.0M | |
| Operating income | $139.2M | $89.8M | $151.3M | $178.3M | $143.0M | $78.0M | |
| Net income | $121.9M | $97.5M | $111.8M | $116.5M | $99.8M | $78.0M | |
| Diluted EPS | $1.76 | $1.42 | $1.63 | $1.70 | $1.47 | $1.15 | |
| Gross margin | 38.5% | 38.5% | 33.5% | 38.5% | 98.7% | 30.7% | |
| Operating margin | 20.9% | 14.8% | 22.9% | 24.9% | 22.5% | 15.3% |
Fiscal years (4-quarter sums)FY22 $2.27B · FY23 $1.81B · FY24 $1.91B · FY25 $2.39B · FY26 $2.62B
Revenue by product · Q1 FY27
Revenue by geography · Q1 FY27
Balance sheet, Jun 30, 2026Cash & short-term investments $797.0M · Total debt $493.0M · Total assets $3.72B · Shareholders' equity $2.26B
Dividends
Raised for 9 straight years — most recently to $0.70 from $0.60 in Jun 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 1, 2026 | Jun 1 | Jun 15 | $0.70 | raised from $0.60 |
| Mar 2, 2026 | Mar 2 | Mar 15 | $0.60 | |
| Dec 1, 2025 | Dec 1 | Dec 15 | $0.60 | |
| Sep 2, 2025 | Sep 2 | Sep 15 | $0.60 | |
| Jun 2, 2025 | Jun 2 | Jun 15 | $0.60 | raised from $0.57 |
| Mar 3, 2025 | Mar 3 | Mar 15 | $0.57 | |
| Dec 2, 2024 | Dec 2 | Dec 15 | $0.57 | |
| Sep 3, 2024 | Sep 3 | Sep 15 | $0.57 |
Ownership
Shares outstanding 69.89M · Float 69.78M · 99.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| A&R Voting Trust | 15.80M | 22.50% | 13D | Jan 2, 2026 |
| BlackRock, Inc. | 5.24M | 7.50% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 2.77M | 3.97% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 2.44M | 3.49% | 13F | Aug 13, 2026 |
| Kayne Anderson Rudnick Investment Management LLC | 2.43M | 3.47% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 3, 2026 | J. Lindsey Alley | officer: Chief Financial Officer | +4,020 | $124.52 |
| May 21, 2026 | Scott L. Beiser | director, 10 percent owner, officer: CO-CHAIRMAN | −6,265 | $150.26 |
| Apr 1, 2026 | Christopher M. Crain | officer: GENERAL COUNSEL | −500 | $143.40 |
| Feb 6, 2026 | Robert A. Schriesheim | director | −5,000 | $170.86 |
| Jan 2, 2026 | Christopher M. Crain | officer: GENERAL COUNSEL | −500 | $174.17 |
Peers
- Evercore
Independent rival in M&A, restructuring, and fairness opinions
- PJT Partners
Advisory rival in M&A, capital markets, and restructuring
- Lazard
Global rival in M&A, capital solutions, and restructuring
- Moelis & Company
Independent rival across M&A, capital markets, and restructuring
- Piper Sandler
Middle-market rival in M&A, capital advisory, and restructuring
- Perella Weinberg Partners
Independent advisory rival across M&A, financing, and restructuring
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Houlihan Lokey | $133.02 | 0.00% | $9.30B | 22.4 | 17.5 | 3.7 | −15.6% |
| Evercore | $293.00 | +1.00% | $11.22B | 16.4 | 15.1 | 2.4 | +19.2% |
| PJT Partners | $182.80 | −0.05% | $4.67B | 30.7 | 21.8 | 2.5 | +19.5% |
| Lazard | $43.64 | −0.07% | $4.25B | 21.0 | 13.7 | 1.3 | −2.7% |
| Moelis & Company | $68.40 | +0.02% | $5.07B | 23.8 | 19.5 | 3.2 | +12.1% |
| Piper Sandler | $75.61 | +0.11% | $5.10B | 17.5 | 15.2 | 2.4 | +25.8% |
| Perella Weinberg Partners | $16.98 | 0.00% | $1.67B | 56.5 | 13.4 | 2.4 | +0.8% |
| Median | 22.4 | 15.1 | 2.4 | +15.6% |