Houlihan Lokey (HLI) Change in Cash (2014 - 2025)

Houlihan Lokey's Change in Cash history runs 12 years deep, the most recent figure standing at $132.9 million for Q4 2025.

• In Q4 2025, Change in Cash rose 23.14% year-over-year to $132.9 million; the TTM figure through Dec 2025 stood at $260.5 million (up 6.38% YoY), while the FY2025 annual figure was $253.7 million, up 3503.02% from the prior year.
• Change in Cash was $132.9 million for Q4 2025 at Houlihan Lokey, up from $130.0 million in the prior quarter.
• In the past five years, Change in Cash ranged from a high of $242.5 million in Q3 2024 to a low of -$344.7 million in Q2 2022.
• Historically, Change in Cash has averaged $21.4 million across 5 years, with a median of $84.8 million in 2023.
• The sharpest annual moves came in 2021 and 2022: Change in Cash surged 71579.7% in 2021, then sank 433.2% in 2022.
• A 5-year view of Change in Cash shows it stood at $135.6 million in 2021, then sank by 66.36% to $45.6 million in 2022, then soared by 35.05% to $61.6 million in 2023, then surged by 75.2% to $107.9 million in 2024, then climbed by 23.14% to $132.9 million in 2025.
• The last three Change in Cash figures came in at $132.9 million (Q4 2025), $130.0 million (Q3 2025), and -$177.2 million (Q2 2025), per Business Quant data.