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Houlihan Lokey HLI

Houlihan Lokey scores good on business quality (7.0 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$130.16Oct 9, 2026
Business qualityGood
Next earningsOct 28, 2026
Insiders, 90 daysBuying

Why it matters

  1. What Houlihan Lokey does

    Houlihan Lokey generates revenue by providing specialty financial advisory services, focusing on corporate finance, financial restructuring, and financial and valuation advisory to corporations and institutions. The firm is expanding its sector expertise through targeted talent acquisitions like its recent digital assets hire within the FinTech group.

  2. What it does best

    Houlihan Lokey dominates financial restructuring advisory, guiding complex corporate bankruptcies and distressed transactions. It converts a 23.1% operating margin into reliable cash generation while maintaining zero total debt and a net cash position of $1.2B.

  3. The main risk

    Revenue growth relies heavily on advisory deal flow, leaving the firm vulnerable to sudden freezes in M&A markets. While recent revenue rose to $2.5B, transaction market volatility directly pressures fee income.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityFair

Operating margin stands at 23.1% and ROE reaches 17.8%, reflecting efficient utilization of equity. Profitability expands as deal scale increases, though it remains tethered to broader capital market activity.

MoatStrong

Reputational capital and specialized restructuring expertise lock in corporate clients and creditors. Its operating margin of 23.1% sits safely in the middle of the pack of financial peers, backed by entrenched advisory relationships.

GrowthSteady

Revenue growth stands at 9.6%, rebounding from past cyclical dips. Annual history shows revenue expanding from $1.8B in 2023 to $2.6B, reflecting steady recovery in deal activity.

Financial healthStrong

Houlihan Lokey holds zero total debt alongside $1.2B in cash, leaving it exceptionally insulated. Free cash flow sits at $485M, supporting $218M in buybacks and $183M in dividends. The balance sheet is getting stronger.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

1 insider bought $501K on the open market. 1 sold $140K outside pre-planned sales.

Our sealed record on HLI

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is HLI a good business?

Houlihan Lokey scores good on the Cluenex quality check (7.0 of 10), measured against its own industry. Profitability is fair, moat strong, growth steady and financial health strong.

Are insiders buying HLI?

In the last 90 days of SEC Form 4 filings: 1 insider bought $501K on the open market. 1 sold $140K outside pre-planned sales.

When does HLI report earnings?

Oct 28, 2026.

For members

See HLI today

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Cite this page: Cluenex, “Houlihan Lokey (HLI)”, https://cluenex.com/stocks/hli/, data as of Oct 10, 2026.