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

Houlihan Lokey has reported Change in Cash for 12 years, with the latest figure at $132.9 million in Q4 2025.

• Change in Cash for Q4 2025 came in at $132.9 million, up 23.14% year-over-year; the trailing twelve-month figure through Dec 2025 was $260.5 million (up 6.38% YoY), and the FY2025 annual result was $253.7 million, up 3503.02% from the prior year.
• Change in Cash rose to $132.9 million in Q4 2025, from $130.8 million in the prior quarter.
• Over five years, Change in Cash peaked at $242.5 million in Q3 2024 and troughed at -$344.7 million in Q2 2022.
• A 5-year average of $21.4 million and a median of $84.8 million in 2023 frame the typical range for Change in Cash.
• The widest annual swing landed in 2021, when Change in Cash surged 71579.7%; it then plunged 433.2% in 2022.
• A 5-year view of Change in Cash shows it stood at $135.6 million in 2021, then slumped by 66.36% to $45.6 million in 2022, then surged by 35.05% to $61.6 million in 2023, then jumped by 75.2% to $107.9 million in 2024, then advanced by 23.14% to $132.9 million in 2025.
• Per Business Quant data, the three most recent Change in Cash figures were $132.9 million in Q4 2025, $130.8 million in Q3 2025, and -$178.0 million in Q2 2025.