Houlihan Lokey, Inc. income statement
In fiscal 2026, Houlihan Lokey, Inc. reported revenue of $2.62bn, up 9.5% on the year before, operating income of $527m (a 20.1% margin) and net income of $426m, or $6.22 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2017Mar 2017 | 2018Mar 2018 | 2019Mar 2019 | 2020Mar 2020 | 2021Mar 2021 | 2022Mar 2022 | 2023Mar 2023 | 2024Mar 2024 | 2025Mar 2025 | 2026Mar 2026 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 872 | 963 | 1,084 | 1,159 | 1,525 | 2,270 | 1,809 | 1,914 | 2,389 | 2,618 | 2,556 |
| Gross profit | 241 | 278 | 306 | 323 | 521 | 795 | 557 | 571 | 772 | — | — |
| Operating income | 182 | 214 | 219 | 230 | 408 | 613 | 342 | 373 | 503 | 527 | 518 |
| Income before tax | 178 | 218 | 224 | 236 | 409 | 604 | 324 | 391 | 531 | 562 | 549 |
| Income tax | 70 | 46 | 65 | 52 | 96 | 166 | 70 | 110 | 132 | 138 | 146 |
| Net income | 108 | 172 | 159 | 184 | 313 | 438 | 254 | 280 | 400 | 426 | 403 |
| Diluted EPS | $1.63 | $2.60 | $2.42 | $2.80 | $4.55 | $6.41 | $3.76 | $4.11 | $5.82 | $6.22 | $5.96 |
| Diluted shares (average) | 67m | 66m | 66m | 66m | 69m | 68m | 68m | 68m | 69m | 68m | 68m |
| EBITDA | 191 | 222 | 234 | 247 | 423 | 661 | 400 | 402 | 544 | 570 | 552 |
| Quarter | 2025 Q3Dec 2024 | 2025 Q4Mar 2025 | 2026 Q1Jun 2025 | 2026 Q2Sept 2025 | 2026 Q3Dec 2025 | 2026 Q4Mar 2026 | 2027 Q1Jun 2026 | 2027 Q2Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 634 | 666 | 605 | 660 | 717 | 636 | 511 | 692 |
| Gross profit | 199 | 226 | 188 | 222 | 231 | — | 154 | 239 |
| Operating income | 136 | 141 | 90 | 151 | 161 | 125 | 78 | 154 |
| Income before tax | 145 | 150 | 98 | 160 | 170 | 135 | 86 | 159 |
| Income tax | 50 | 28 | 0 | 49 | 53 | 36 | 8 | 49 |
| Net income | 95 | 122 | 98 | 111 | 117 | 100 | 78 | 109 |
| Diluted EPS | $1.39 | $1.77 | $1.42 | $1.63 | $1.70 | $1.48 | $1.15 | $1.64 |
| EBITDA | 146 | 156 | 106 | 161 | 169 | 133 | 86 | 164 |
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