Houlihan Lokey (HLI) EBT Margin (2014 - 2025)

Houlihan Lokey has reported EBT Margin for 12 years, with the latest figure at 23.66% in Q4 2025.

• EBT Margin for Q4 2025 came in at 23.66%, up 78.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 21.83% (down 42.0% YoY), and the FY2025 annual result was 22.24%, up 184.0% from the prior year.
• EBT Margin fell to 23.66% in Q4 2025, from 24.27% in the prior quarter.
• Over five years, EBT Margin peaked at 34.72% in Q1 2022 and troughed at 16.2% in Q2 2025.
• A 5-year average of 22.71% and a median of 22.61% in 2024 frame the typical range for EBT Margin.
• The widest annual swing landed in 2021, when EBT Margin jumped 819 bps; it then plunged 1666 bps in 2023.
• A 5-year view of EBT Margin shows it stood at 28.02% in 2021, then plunged by 35 bps to 18.32% in 2022, then advanced by 10 bps to 20.07% in 2023, then increased by 14 bps to 22.87% in 2024, then grew by 3 bps to 23.66% in 2025.
• Per Business Quant data, the three most recent EBT Margin figures were 23.66% in Q4 2025, 24.27% in Q3 2025, and 16.2% in Q2 2025.