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

Houlihan Lokey's Change in Inventory history runs 9 years deep, the most recent figure standing at -$43.5 million for Q4 2025.

• In Q4 2025, Change in Inventory rose 40.87% year-over-year to -$43.5 million; the TTM figure through Dec 2025 stood at -$28.2 million (up 11.3% YoY), while the FY2025 annual figure was $33.8 million, up 143.59% from the prior year.
• Change in Inventory was -$43.5 million for Q4 2025 at Houlihan Lokey, down from -$11.0 million in the prior quarter.
• In the past five years, Change in Inventory ranged from a high of $51.5 million in Q1 2025 to a low of -$73.5 million in Q4 2024.
• Historically, Change in Inventory has averaged -$9.1 million across 5 years, with a median of -$12.5 million in 2024.
• The sharpest annual moves came in 2021 and 2023: Change in Inventory soared 845.5% in 2021, then plunged 4106.3% in 2023.
• A 5-year view of Change in Inventory shows it stood at $33.9 million in 2021, then sank by 96.77% to $1.1 million in 2022, then slumped by 4106.3% to -$43.9 million in 2023, then tumbled by 67.61% to -$73.5 million in 2024, then surged by 40.87% to -$43.5 million in 2025.
• The last three Change in Inventory figures came in at -$43.5 million (Q4 2025), -$11.0 million (Q3 2025), and -$25.2 million (Q2 2025), per Business Quant data.