Houlihan Lokey (HLI) EBITDA Margin (2014 - 2025)
Houlihan Lokey (HLI) posted EBITDA Margin of 23.39% for Q4 2025, down 3.03% on a QoQ basis from 24.12% in Q3 2025, and up 107.0% year-over-year from 11.3% in Q4 2024.
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Houlihan Lokey (HLI) EBITDA Margin (2014 - 2025) Analysis & Trends
Houlihan Lokey has reported EBITDA Margin for 12 years, with the latest figure at 23.39% in Q4 2025.
- On a quarterly basis, EBITDA Margin rose 107.0% year-over-year to 23.39% in Q4 2025; TTM through Dec 2025 was 21.51%, a 16.0% decrease from a year earlier, with the FY2025 full-year figure at 21.91%, up 203.0% from the prior year.
- EBITDA Margin was 23.39% for Q4 2025 at Houlihan Lokey, down from 24.12% in the prior quarter.
- The five-year high for EBITDA Margin was 39.34% in Q1 2022, with the low at 16.03% in Q2 2025.
- Average EBITDA Margin over 5 years is 23.23%, with a median of 21.48% recorded in 2023.
- The sharpest annual moves came in 2022 and 2023: EBITDA Margin soared 1075 bps in 2022, then plunged 1826 bps in 2023.
- Over 5 years, EBITDA Margin stood at 28.56% in 2021, then slumped by 33 bps to 19.07% in 2022, then rose by 4 bps to 19.88% in 2023, then advanced by 12 bps to 22.32% in 2024, then climbed by 5 bps to 23.39% in 2025.
- The last three EBITDA Margin figures came in at 23.39% (Q4 2025), 24.12% (Q3 2025), and 16.03% (Q2 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Evercore | 10.14 Bn | 8.05 Bn | 975.67 Mn | 13.22% |
| 2 | Jefferies Financial | 9.74 Bn | -5.67 Bn | 3.09 Bn | 38.36% |
| 3 | Houlihan Lokey | 9.07 Bn | 7.99 Bn | - | - |
| 4 | Cluster Group Holdings | 8.00 Bn | 8.00 Bn | - | - |
| 5 | PJT Partners | 5.75 Bn | 5.81 Bn | 481.98 Mn | 20.75% |
| 6 | Moelis | 5.25 Bn | 5.17 Bn | - | - |
| 7 | Piper Sandler Companies | 4.88 Bn | 4.77 Bn | - | 20.39% |
| 8 | Lazard | 3.95 Bn | 2.96 Bn | - | 4.53% |
| 9 | BRBI BR Partners | 3.50 Bn | 3.38 Bn | 16.77 Mn | 201.61% |
| 10 | Perella Weinberg Partners | 1.40 Bn | 1.59 Bn | - | 5.40% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 23.39% |
| Sep 30, 2025 | 24.12% |
| Jun 30, 2025 | 16.03% |
| Mar 31, 2025 | 21.88% |
| Dec 31, 2024 | 22.32% |
| Sep 30, 2024 | 23.66% |
| Jun 30, 2024 | 19.48% |
| Mar 31, 2024 | 20.84% |
| Dec 31, 2023 | 19.88% |
| Sep 30, 2023 | 20.13% |
| Jun 30, 2023 | 18.40% |
| Mar 31, 2023 | 21.08% |
| Dec 31, 2022 | 19.07% |
| Sep 30, 2022 | 19.04% |
| Jun 30, 2022 | 19.34% |
| Mar 31, 2022 | 39.34% |
| Dec 31, 2021 | 28.56% |
| Sep 30, 2021 | 29.79% |
| Jun 30, 2021 | 29.72% |
| Mar 31, 2021 | 28.59% |