Houlihan Lokey (HLI) Change in Inventory (2017 - 2025)

Houlihan Lokey has reported Change in Inventory for 9 years, with the latest figure at -$43.5 million in Q4 2025.

• Change in Inventory for Q4 2025 came in at -$43.5 million, up 40.87% year-over-year; the trailing twelve-month figure through Dec 2025 was -$28.2 million (up 11.3% YoY), and the FY2025 annual result was $33.8 million, up 143.59% from the prior year.
• Change in Inventory declined to -$43.5 million in Q4 2025, from -$11.2 million in the prior quarter.
• Over five years, Change in Inventory peaked at $51.5 million in Q1 2025 and troughed at -$73.5 million in Q4 2024.
• A 5-year average of -$9.1 million and a median of -$12.6 million in 2024 frame the typical range for Change in Inventory.
• The widest annual swing landed in 2021, when Change in Inventory soared 845.5%; it then tumbled 4106.3% in 2023.
• A 5-year view of Change in Inventory shows it stood at $33.9 million in 2021, then slumped by 96.77% to $1.1 million in 2022, then tumbled by 4106.3% to -$43.9 million in 2023, then plunged by 67.61% to -$73.5 million in 2024, then jumped by 40.87% to -$43.5 million in 2025.
• Per Business Quant data, the three most recent Change in Inventory figures were -$43.5 million in Q4 2025, -$11.2 million in Q3 2025, and -$25.0 million in Q2 2025.