Houlihan Lokey (HLI) EV to FCF (2015 - 2025)
Houlihan Lokey (HLI) posted EV to FCF of 51.06 for Q4 2025, up 22.37% on a QoQ basis from 41.73 in Q3 2025, and up 25.65% year-over-year from 40.64 in Q4 2024.
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Houlihan Lokey (HLI) EV to FCF (2015 - 2025) Analysis & Trends
Houlihan Lokey has reported EV to FCF for 11 years, with the latest figure at 51.06 in Q4 2025.
- On a quarterly basis, EV to FCF rose 25.65% year-over-year to 51.06 in Q4 2025; TTM through Dec 2025 was 15.0, a 4.36% decrease from a year earlier, with the FY2025 full-year figure at 12.74, down 59.0% from the prior year.
- EV to FCF was 51.06 for Q4 2025 at Houlihan Lokey, up from 41.73 in the prior quarter.
- The five-year high for EV to FCF was 84.02 in Q4 2023, with the low at 110.38 in Q2 2024.
- Average EV to FCF over 5 years is 17.8, with a median of 32.41 recorded in 2025.
- The sharpest annual moves came in 2022 and 2024: EV to FCF jumped 522.66% in 2022, then sank 183.16% in 2024.
- Over 5 years, EV to FCF stood at 10.35 in 2021, then surged by 522.66% to 64.45 in 2022, then jumped by 30.37% to 84.02 in 2023, then sank by 51.63% to 40.64 in 2024, then rose by 25.65% to 51.06 in 2025.
- The last three EV to FCF figures came in at 51.06 (Q4 2025), 41.73 (Q3 2025), and 76.74 (Q2 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Evercore | 11.52 Bn | 9.43 Bn | 975.67 Mn |
| 2 | Jefferies Financial | 11.24 Bn | -4.17 Bn | 3.09 Bn |
| 3 | Houlihan Lokey | 9.53 Bn | 8.45 Bn | - |
| 4 | Cluster Group Holdings | 8.00 Bn | 8.00 Bn | - |
| 5 | PJT Partners | 6.94 Bn | 6.99 Bn | 481.98 Mn |
| 6 | Moelis | 6.06 Bn | 5.99 Bn | - |
| 7 | Piper Sandler Companies | 5.20 Bn | 5.09 Bn | - |
| 8 | Lazard | 4.97 Bn | 3.99 Bn | - |
| 9 | BRBI BR Partners | 3.49 Bn | 3.38 Bn | 16.77 Mn |
| 10 | Perella Weinberg Partners | 1.81 Bn | 2.01 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 51.06 |
| Sep 30, 2025 | 41.73 |
| Jun 30, 2025 | -76.74 |
| Mar 31, 2025 | 29.98 |
| Dec 31, 2024 | 40.64 |
| Sep 30, 2024 | 34.84 |
| Jun 30, 2024 | -110.38 |
| Mar 31, 2024 | 38.18 |
| Dec 31, 2023 | 84.02 |
| Sep 30, 2023 | 57.05 |
| Jun 30, 2023 | -38.98 |
| Mar 31, 2023 | 22.04 |
| Dec 31, 2022 | 64.45 |
| Sep 30, 2022 | 59.57 |
| Jun 30, 2022 | -15.95 |
| Mar 31, 2022 | 76.89 |
| Dec 31, 2021 | 10.35 |
| Sep 30, 2021 | 24.28 |
| Jun 30, 2021 | -50.19 |
| Mar 31, 2021 | 13.09 |