Houlihan Lokey, Inc. - Understand $hli stock

$HLI Market Cap: $12.88 Billion

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Financial Snapshot

Revenue

$2.120B

TTM

Gross Margin

31.06%

TTM

Net Earnings

$334.4M

TTM

Current Assets

$1.071B

Q3 2024

Current Liabilities

$1.215B

Q3 2024

Current Ratio

88.11%

Q3 2024

Total Assets

$3.213B

Q3 2024

Total Liabilities

$1.256B

Q3 2024

Book Value

$1.957B

Q3 2024

Cash

$691.4M

Q3 2024

P/E

38.53

Nov 29, 2024 EST

Free Cash Flow

$501.7M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Revenue	$1.914B	$1.809B	$2.270B	$1.525B	$1.159B	$1.084B	$30.20M	$33.02M	$28.18M	$27.17M	$23.13M	$520.3M
YoY Change	5.8%	-20.29%	48.81%	31.58%	6.91%	3490.68%	-8.53%	17.15%	3.72%	17.46%	-95.55%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Revenue	$1.914B	$1.809B	$2.270B	$1.525B	$1.159B	$1.084B	$30.20M	$33.02M	$28.18M	$27.17M	$23.13M	$520.3M
Cost Of Revenue
Gross Profit	$571.1M	$557.1M	$795.3M	$521.4M	$322.5M	$306.0M	$277.6M	$241.5M	$188.7M	$177.9M
Gross Profit Margin	29.83%	30.79%	35.04%	34.18%	27.82%	28.22%	919.21%	731.41%	669.59%	654.53%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Selling, General & Admin	$1.464B	$1.342B	$1.559B	$1.073B	$873.0M	$818.2M	$727.2M	$665.8M	$548.3M	$533.3M	$467.2M	$399.5M
YoY Change	9.12%	-13.92%	45.24%	22.94%	6.7%	12.51%	9.22%	21.43%	2.81%	14.15%	16.95%
% of Gross Profit	256.4%	240.87%	196.02%	205.86%	270.66%	267.4%	261.96%	275.72%	290.55%	299.85%
Research & Development	$60.17M	$54.13M	$41.71M	$31.65M	$26.90M	$21.51M	$18.48M	$17.63M	$16.02M	$14.01M	$12.27M
YoY Change	11.16%	29.75%	31.81%	17.63%	25.07%	16.4%	4.84%	10.06%	14.3%	14.19%
% of Gross Profit	10.54%	9.72%	5.25%	6.07%	8.34%	7.03%	6.66%	7.3%	8.49%	7.88%
Depreciation & Amortization	$28.54M	$58.22M	$48.54M	$15.23M	$17.29M	$14.48M	$7.905M	$8.853M	$7.499M	$5.508M	$6.040M	$5.400M
YoY Change	-50.99%	19.95%	218.74%	-11.93%	19.45%	83.11%	-10.71%	18.06%	36.15%	-8.81%	11.85%
% of Gross Profit	5.0%	10.45%	6.1%	2.92%	5.36%	4.73%	2.85%	3.67%	3.97%	3.1%
Operating Expenses	$1.552B	$1.468B	$1.657B	$1.117B	$929.8M	$865.3M	$749.0M	$690.1M	$567.4M	$552.2M	$489.6M	$423.6M
YoY Change	5.71%	-11.43%	48.31%	20.17%	7.45%	15.53%	8.53%	21.63%	2.74%	12.79%	15.58%
Operating Profit	$362.9M	$341.7M	$612.9M	$408.2M	$229.6M	$219.1M	$214.4M	$182.0M	$126.4M	$128.7M	$102.8M
YoY Change	6.18%	-44.24%	50.15%	77.77%	4.79%	2.18%	17.81%	43.98%	-1.75%	25.09%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Interest Expense	-$146.0K	-$121.0K	-$356.0K	-$300.0K				$3.800M		$3.500M	$2.500M	$1.600M
YoY Change	20.66%	-66.01%	18.67%							40.0%	56.25%
% of Operating Profit	-0.04%	-0.04%	-0.06%	-0.07%				2.09%		2.72%	2.43%
Other Income/Expense, Net	$27.68M	-$2.738M	-$8.926M	$1.071M	$6.046M	$5.223M	$3.423M	-$3.508M	-$770.0K	$3.481M	$2.478M
YoY Change	-1110.88%	-69.33%	-933.43%	-82.29%	15.76%	52.59%	-197.58%	355.58%	-122.12%	40.48%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Pretax Income	$390.5M	$339.0M	$603.9M	$409.2M	$235.6M	$224.3M	$217.8M	$178.5M	$125.6M	$132.1M	$105.3M	$98.30M
YoY Change	15.2%	-43.87%	47.58%	73.66%	5.05%	2.98%	22.05%	42.07%	-4.92%	25.45%	7.15%
Income Tax	$110.2M	$69.78M	$165.6M	$96.46M	$51.85M	$65.21M	$45.55M	$70.14M	$55.86M	$52.20M	$43.90M	$39.40M
% Of Pretax Income	28.23%	20.58%	27.42%	23.57%	22.0%	29.07%	20.91%	39.3%	44.47%	39.5%	41.68%	40.08%
Net Earnings	$280.3M	$269.2M	$437.8M	$312.8M	$183.8M	$159.1M	$172.3M	$108.3M	$69.74M	$79.88M	$61.32M	$59.00M
YoY Change	4.11%	-38.5%	39.96%	70.18%	15.52%	-7.65%	59.02%	55.35%	-12.69%	30.27%	3.93%
Net Earnings / Revenue	14.64%	14.88%	19.28%	20.5%	15.85%	14.67%	570.47%	328.16%	247.46%	293.97%	265.08%	11.34%
Basic Earnings Per Share	$4.36	$4.01	$6.74	$4.75	$2.96	$2.56	$2.76	$1.77	$1.18	$1.40	$1.11
Diluted Earnings Per Share	$4.11	$3.98	$6.41	$4.55	$2.80	$2.42	$2.60	$1.63	$1.10	$1.33	$1.05	$904.9K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Cash & Short-Term Investments	$721.2M	$714.4M	$833.7M	$846.9M	$380.4M	$285.7M	$206.7M	$300.3M	$166.2M	$88.70M	$109.4M	$68.40M
YoY Change	0.95%	-14.3%	-1.56%	122.63%	33.15%	38.22%	-31.17%	80.69%	87.37%	-18.92%	59.94%
Cash & Equivalents	$721.2M	$714.4M	$833.7M	$846.9M	$380.4M	$285.7M	$206.7M	$300.3M	$166.2M	$88.70M	$109.4M	$68.40M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables	$192.0M	$115.0M	$248.8M	$226.5M	$120.7M	$142.7M	$123.1M	$118.4M	$109.4M	$100.0M	$89.00M	$66.70M
Other Receivables	$232.5M	$199.7M	$0.00	$0.00	$4.300M	$8.700M	$8.800M	$10.90M	$34.60M	$328.0M	$171.4M	$117.0M
Total Short-Term Assets	$1.146B	$1.029B	$1.082B	$1.073B	$505.4M	$437.1M	$338.6M	$429.6M	$310.2M	$516.7M	$369.8M	$252.1M
YoY Change	11.32%	-4.92%	0.85%	112.39%	15.63%	29.09%	-21.18%	38.49%	-39.97%	39.72%	46.69%
Property, Plant & Equipment	$480.7M	$422.2M	$224.1M	$198.4M	$177.6M	$31.00M	$32.10M	$30.40M	$21.70M	$16.50M	$16.00M	$18.00M
YoY Change	13.86%	88.39%	12.96%	11.71%	472.9%	-3.43%	5.59%	40.09%	31.52%	3.13%	-11.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$38.01M	$37.31M	$109.1M	$208.6M	$135.4M	$125.3M	$209.3M		$0.00	$14.40M	$14.30M	$13.40M
YoY Change	1.87%	-65.82%	-47.68%	54.06%	8.06%	-40.13%			-100.0%	0.7%	6.72%
Other Assets	$90.68M	$105.3M	$95.65M	$28.70M	$6.900M	$3.200M	$93.50M	$192.4M
YoY Change	-13.89%	10.1%	233.28%	315.94%	115.63%	-96.58%	-51.4%
Total Long-Term Assets	$2.025B	$1.940B	$1.804B	$1.353B	$1.172B	$988.8M	$1.080B	$956.1M	$760.7M	$713.1M	$691.4M	$671.6M
YoY Change	4.4%	7.5%	33.39%	15.46%	18.49%	-8.46%	12.98%	25.69%	6.68%	3.14%	2.95%
Total Assets	$3.171B	$2.969B	$2.887B	$2.426B	$1.677B	$1.426B	$1.419B	$1.386B	$1.071B	$1.230B	$1.061B	$923.7M
YoY Change
Accounts Payable	$114.2M	$113.4M	$126.2M	$67.50M	$53.90M	$55.00M	$40.80M	$41.70M	$34.40M	$37.20M	$35.60M	$29.70M
YoY Change	0.66%	-10.12%	86.95%	25.23%	-2.0%	34.8%	-2.16%	21.22%	-7.53%	4.49%	19.87%
Accrued Expenses	$1.141B	$1.141B	$1.151B	$822.9M	$574.6M	$404.7M	$377.9M	$336.5M	$254.1M	$301.3M	$247.7M	$195.8M
YoY Change	0.06%	-0.86%	39.83%	43.21%	41.98%	7.09%	12.3%	32.43%	-15.67%	21.64%	26.51%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$1.289B	$1.295B	$1.367B	$986.6M	$655.3M	$495.3M	$432.3M	$386.9M	$294.0M	$351.3M	$290.8M	$232.9M
YoY Change	-0.47%	-5.27%	38.55%	50.56%	32.3%	14.57%	11.73%	31.6%	-16.31%	20.8%	24.86%
Long-Term Debt	$11.30M	$0.00	$22.34M	$22.60M	$22.50M	$8.700M	$11.90M	$32.60M	$76.60M	$0.00	$0.00	$0.00
YoY Change		-100.0%	-1.15%	0.44%	158.62%	-26.89%	-63.5%	-57.44%
Other Long-Term Liabilities	$37.75M	$45.11M	$53.07M	$33.20M	$14.20M	$22.50M	$99.70M	$204.7M	$9.400M	$11.20M	$6.900M	$4.000M
YoY Change	-16.32%	-15.0%	59.86%	133.8%	-36.89%	-77.43%	-51.29%	2077.66%	-16.07%	62.32%	72.5%
Total Long-Term Liabilities	$37.75M	$45.11M	$75.41M	$55.80M	$36.70M	$31.20M	$111.6M	$237.3M	$86.00M	$11.20M	$6.900M	$4.000M
YoY Change	-16.32%	-40.18%	35.15%	52.04%	17.63%	-72.04%	-52.97%	175.93%	667.86%	62.32%	72.5%
Total Liabilities	$1.334B	$1.341B	$1.443B	$1.043B	$692.6M	$534.6M	$566.0M	$659.1M	$419.7M	$407.2M	$349.3M	$294.5M
YoY Change	-0.49%	-7.11%	38.43%	50.52%	29.55%	-5.55%	-14.13%	57.04%	3.07%	16.58%	18.61%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Basic Shares Outstanding	64.34M shares	63.36M shares	64.97M shares	65.79M shares	62.15M shares	62.21M shares	62.49M shares	61.10M shares	59.04M shares	57.13M shares	55.05M shares
Diluted Shares Outstanding	68.16M shares	67.59M shares	68.26M shares	68.67M shares	65.73M shares	65.85M shares	66.32M shares	66.58M shares	63.48M shares	60.14M shares	58.12M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $12.882 Billion

About HOULIHAN LOKEY, INC.

Houlihan Lokey, Inc. engages in the provision of investment banking services. The company is headquartered in Los Angeles, California and currently employs 2,601 full-time employees. The company went IPO on 2015-08-13. Its segments include Corporate Finance (CF), Financial Restructuring (FR) and Financial and Valuation Advisory (FVA). The CF segment provides general financial advisory services in addition to advice on mergers and acquisitions and capital markets offerings. The FR segment provides advice to debtors, creditors and other parties-in-interest in connection with recapitalization/deleveraging transactions implemented both through bankruptcy proceedings and through out-of-court exchanges, consent solicitations or other mechanisms, as well as in distressed mergers and acquisitions and capital markets activities. The FVA segment provides valuations of various assets, including companies, illiquid debt and equity securities, and intellectual property. The firm also offers technology-driven valuation and analytic services.

Industry: Investment Advice Peers: Freedom Holding Corp. MORGAN STANLEY Evercore Inc. Jefferies Financial Group Inc. LPL Financial Holdings Inc. Moelis & Co Robinhood Markets, Inc. RAYMOND JAMES FINANCIAL INC STIFEL FINANCIAL CORP Virtu Financial, Inc.