Houlihan Lokey (HLI) Accumulated Expenses (2015 - 2025)

Houlihan Lokey's Accumulated Expenses history runs 11 years deep, the most recent figure standing at $881.1 million for Q4 2025.

• In Q4 2025, Accumulated Expenses rose 22.5% year-over-year to $881.1 million; the TTM figure through Dec 2025 stood at $881.1 million (up 22.5% YoY), while the FY2025 annual figure was $936.6 million, up 29.01% from the prior year.
• Accumulated Expenses was $881.1 million for Q4 2025 at Houlihan Lokey, up from $822.8 million in the prior quarter.
• In the past five years, Accumulated Expenses ranged from a high of $986.0 million in Q4 2021 to a low of $390.9 million in Q2 2021.
• Historically, Accumulated Expenses has averaged $684.0 million across 5 years, with a median of $644.9 million in 2021.
• The sharpest annual moves came in 2021 and 2022: Accumulated Expenses jumped 125.93% in 2021, then plunged 35.23% in 2022.
• A 5-year view of Accumulated Expenses shows it stood at $986.0 million in 2021, then slumped by 35.23% to $638.6 million in 2022, then dropped by 9.95% to $575.1 million in 2023, then gained by 25.08% to $719.3 million in 2024, then rose by 22.5% to $881.1 million in 2025.
• The last three Accumulated Expenses figures came in at $881.1 million (Q4 2025), $822.8 million (Q3 2025), and $640.5 million (Q2 2025), per Business Quant data.