Houlihan Lokey (HLI) EBT Margin (2014 - 2025)
Houlihan Lokey (HLI) recorded quarterly EBT Margin of 23.66% in Q4 2025, down 2.52% quarter-over-quarter from 24.27% in Q3 2025, and up 78.0% on a YoY basis from 13.29% in Q4 2024.
Houlihan Lokey (HLI) EBT Margin (2014 - 2025) Analysis & Trends
Houlihan Lokey's EBT Margin history runs 12 years deep, the most recent figure standing at 23.66% for Q4 2025.
- In Q4 2025, EBT Margin rose 78.0% year-over-year to 23.66%; the TTM figure through Dec 2025 stood at 21.83% (down 42.0% YoY), while the FY2025 annual figure was 22.24%, up 184.0% from the prior year.
- EBT Margin was 23.66% for Q4 2025 at Houlihan Lokey, down from 24.27% in the prior quarter.
- In the past five years, EBT Margin ranged from a high of 34.72% in Q1 2022 to a low of 16.2% in Q2 2025.
- Historically, EBT Margin has averaged 22.71% across 5 years, with a median of 22.61% in 2024.
- The sharpest annual moves came in 2021 and 2023: EBT Margin jumped 819 bps in 2021, then sank 1666 bps in 2023.
- A 5-year view of EBT Margin shows it stood at 28.02% in 2021, then tumbled by 35 bps to 18.32% in 2022, then climbed by 10 bps to 20.07% in 2023, then rose by 14 bps to 22.87% in 2024, then increased by 3 bps to 23.66% in 2025.
- The last three EBT Margin figures came in at 23.66% (Q4 2025), 24.27% (Q3 2025), and 16.2% (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | SOL Strategies | 96,012.83 Bn | 96,012.83 Bn | - | - |
| 2 | Morgan Stanley | 328.23 Bn | 194.70 Bn | - | 34.07% |
| 3 | Goldman Sachs | 313.22 Bn | -624.33 Bn | - | 37.65% |
| 4 | Schwab Charles | 154.90 Bn | 109.92 Bn | - | 49.18% |
| 5 | Robinhood Markets | 75.17 Bn | 70.53 Bn | 960.00 Mn | 38.52% |
| 6 | Interactive Brokers | 38.41 Bn | 49.00 Bn | - | 77.17% |
| 7 | LPL Financial Holdings | 23.13 Bn | 22.10 Bn | - | 9.81% |
| 8 | Tradeweb Markets | 21.12 Bn | 19.87 Bn | - | 49.04% |
| 9 | Circle Internet | 19.75 Bn | 18.24 Bn | 35.01 Mn | 136.18% |
| 10 | Houlihan Lokey | 9.39 Bn | 8.33 Bn | 697.95 Mn | 23.66% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 23.66% |
| Sep 30, 2025 | 24.27% |
| Jun 30, 2025 | 16.20% |
| Mar 31, 2025 | 22.55% |
| Dec 31, 2024 | 22.87% |
| Sep 30, 2024 | 23.67% |
| Jun 30, 2024 | 19.45% |
| Mar 31, 2024 | 22.68% |
| Dec 31, 2023 | 20.07% |
| Sep 30, 2023 | 20.04% |
| Jun 30, 2023 | 18.36% |
| Mar 31, 2023 | 18.05% |
| Dec 31, 2022 | 18.32% |
| Sep 30, 2022 | 17.21% |
| Jun 30, 2022 | 18.11% |
| Mar 31, 2022 | 34.72% |
| Dec 31, 2021 | 28.02% |
| Sep 30, 2021 | 29.12% |
| Jun 30, 2021 | 28.92% |
| Mar 31, 2021 | 27.92% |