Houlihan Lokey (HLI) Change in Cash (2014 - 2025)
Houlihan Lokey (HLI) posted Change in Cash of $132.91 million for fiscal Q3 2026 (quarter ended Dec 31, 2025), up 23.1% from $107.93 million a year earlier and up 1.6% from the prior quarter.
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Analysis
Houlihan Lokey (HLI) Change in Cash (2014 - 2025) Analysis & Trends
For the trailing twelve months through Dec 31, 2025, Change in Cash at Houlihan Lokey was $260.51 million, up 6.4% year-over-year; for FY2025 (ended Mar 31, 2025), it came in at $253.73 million.
- Annual Change in Cash shows a five-year compound annual growth rate of 21.8% (FY2020 to FY2025).
- In prior fiscal years, Houlihan Lokey's Change in Cash was $7.04 million in FY2024, -$119.26 million in FY2023, -$13.15 million in FY2022 and $466.48 million in FY2021 (+392.9%).
- Quarterly Change in Cash has run from a low of -$344.75 million in fiscal Q1 2023 to a high of $242.55 million in fiscal Q2 2025 over five years.
- On a year-over-year basis, Change in Cash increased in five of the last six quarters, with growth averaging 99.9%.
- The strongest year-over-year quarter for Change in Cash in the past five years was fiscal Q2 2025, with growth of 541.4%; the weakest was fiscal Q2 2023, with a decline of 89.4%.
- According to Business Quant data, Change in Cash for the three prior fiscal quarters was $130.82 million (Q2 2026), -$178 million (Q1 2026) and $174.79 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Change in Cash (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 110.29 Bn | 98.39 Bn | - | -7.17 Bn |
| 2 | Intercontinental Exchange | 91.73 Bn | 85.47 Bn | - | -2.88 Bn |
| 3 | Robinhood Markets | 85.57 Bn | 66.60 Bn | - | 1.85 Bn |
| 4 | Nasdaq | 57.08 Bn | 54.52 Bn | 1.48 Bn | 348.00 Mn |
| 5 | Interactive Brokers | 36.00 Bn | 13.12 Bn | - | 5.81 Bn |
| 6 | Cboe Global Markets | 35.61 Bn | 27.26 Bn | 731.60 Mn | -689.50 Mn |
| 7 | Tradeweb Markets | 26.02 Bn | 18.03 Bn | - | 120.63 Mn |
| 8 | LPL Financial Holdings | 25.19 Bn | 20.51 Bn | - | 22.80 Mn |
| 9 | Circle Internet | 21.29 Bn | 15.17 Bn | 288.85 Mn | -3.41 Bn |
| 10 | Houlihan Lokey | 8.74 Bn | 4.77 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 132.91 Mn |
| Sep 30, 2025 | 130.82 Mn |
| Jun 30, 2025 | -178.00 Mn |
| Mar 31, 2025 | 174.79 Mn |
| Dec 31, 2024 | 107.93 Mn |
| Sep 30, 2024 | 242.55 Mn |
| Jun 30, 2024 | -271.54 Mn |
| Mar 31, 2024 | 165.95 Mn |
| Dec 31, 2023 | 61.60 Mn |
| Sep 30, 2023 | 37.81 Mn |
| Jun 30, 2023 | -258.32 Mn |
| Mar 31, 2023 | 165.02 Mn |
| Dec 31, 2022 | 45.62 Mn |
| Sep 30, 2022 | 14.86 Mn |
| Jun 30, 2022 | -344.75 Mn |
| Mar 31, 2022 | -224.91 Mn |
| Dec 31, 2021 | 135.59 Mn |
| Sep 30, 2021 | 140.82 Mn |
| Jun 30, 2021 | -64.66 Mn |
| Mar 31, 2021 | 213.19 Mn |
API Access
Houlihan Lokey Change in Cash API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=change-in-cash&ticker=HLI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "change-in-cash", "ticker": "HLI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=change-in-cash&ticker=HLI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();