CluenexHamilton Lane HLNE
Hamilton Lane scores excellent on business quality (8.3 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What Hamilton Lane does
Hamilton Lane manages private markets investments for institutional and private wealth clients, collecting management and fee-related earnings on $858 million in revenue. Wells Fargo recently initiated coverage with an overweight rating and a $103 price target, highlighting expansion in private wealth channels.
- What it does best
Hamilton Lane turns private equity access into a repeatable fee machine, generating an operating margin of 43.6% that sits in the top decile of its sector. Its global platform and proprietary data lock in institutional clients who cannot easily replicate multi-decade fund relationships.
- The main risk
Dependence on private market asset valuations exposes fee-related earnings to broader market downturns or fundraising freezes. If fundraising slows, management fees compress, directly impacting the $373 million in operating cash flow.
Quality, check by check
Scored against its own industry, from company filings.
Operating margins sit at 43.6% alongside an 84th percentile free cash flow margin, driven by asset-light management fees that scale efficiently with every new dollar raised.
An operating margin in the 89th percentile of its sector reflects deep switching costs among institutional clients who rely on its proprietary data and decades of performance tracking.
Revenue grew 6.4% to $858 million, continuing a steady multi-year expansion from $554 million in 2024 as private wealth channels pick up.
Debt-to-equity of 0.3x and interest coverage of 25.6x mean debt servicing costs are negligible. With $367 million in free cash flow, 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.
No open market buys or unplanned sales by executives or directors.
Our sealed record on HLNE
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
Hamilton Lane scores excellent on the Cluenex quality check (8.3 of 10), measured against its own industry. Profitability is strong, moat strong, growth steady and financial health strong.
In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.
Nov 3, 2026.
See HLNE today
- Today's verdict on HLNE, and why
- Fair value with cautious, base and optimistic cases
- The exact price that would change the verdict
- Which stocks each signal names, the night it fires
Cite this page: Cluenex, “Hamilton Lane (HLNE)”, https://cluenex.com/stocks/hlne/, data as of Oct 10, 2026.