Houlihan Lokey (HLI) FCF Margin (2014 - 2025)
Houlihan Lokey (HLI) posted quarterly FCF Margin of 30.27% for Q4 2025, down 1098.0% year-over-year from 3.03% in Q4 2024, and down 38.2% on a QoQ basis from 48.98% in Q3 2025.
Houlihan Lokey (HLI) FCF Margin (2014 - 2025) Analysis & Trends
Houlihan Lokey has reported FCF Margin for 12 years, with the latest figure at 30.27% in Q4 2025.
- FCF Margin for Q4 2025 came in at 30.27%, down 1098.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 27.91% (down 232.0% YoY), and the FY2025 annual result was 33.85%, up 2018.0% from the prior year.
- FCF Margin fell to 30.27% in Q4 2025, from 48.98% in the prior quarter.
- Over five years, FCF Margin peaked at 61.54% in Q4 2021 and troughed at 67.48% in Q2 2022.
- A 5-year average of 19.76% and a median of 27.26% in 2022 frame the typical range for FCF Margin.
- The widest annual swing landed in 2021, when FCF Margin jumped 3169 bps; it then plunged 4463 bps in 2022.
- A 5-year view of FCF Margin shows it stood at 61.54% in 2021, then tumbled by 73 bps to 16.91% in 2022, then slipped by 1 bps to 16.69% in 2023, then jumped by 147 bps to 41.24% in 2024, then slipped by 27 bps to 30.27% in 2025.
- Per Business Quant data, the three most recent FCF Margin figures were 30.27% in Q4 2025, 48.98% in Q3 2025, and 23.97% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 338.83 Bn | 205.30 Bn | - | -16.70% |
| 2 | Goldman Sachs | 316.34 Bn | -660.01 Bn | - | 27.55% |
| 3 | Schwab Charles | 220.55 Bn | 135.80 Bn | - | 111.11% |
| 4 | Futu Holdings | 121.48 Bn | 105.59 Bn | 733.58 Mn | - |
| 5 | Robinhood Markets | 84.07 Bn | 66.74 Bn | 1.20 Bn | 54.13% |
| 6 | Iren | 68.17 Bn | 65.95 Bn | 104.86 Mn | -603.50% |
| 7 | ATIF Holdings | 45.42 Bn | 45.42 Bn | - | - |
| 8 | Interactive Brokers | 39.54 Bn | -3.28 Bn | - | 214.80% |
| 9 | LPL Financial Holdings | 28.27 Bn | 25.57 Bn | - | 3.90% |
| 10 | Houlihan Lokey | 6.95 Bn | 5.88 Bn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 30.27% |
| Sep 30, 2025 | 48.95% |
| Jun 30, 2025 | -23.92% |
| Mar 31, 2025 | 51.60% |
| Dec 31, 2024 | 41.24% |
| Sep 30, 2024 | 48.48% |
| Jun 30, 2024 | -14.68% |
| Mar 31, 2024 | 40.94% |
| Dec 31, 2023 | 16.69% |
| Sep 30, 2023 | 24.10% |
| Jun 30, 2023 | -35.89% |
| Mar 31, 2023 | 49.25% |
| Dec 31, 2022 | 16.91% |
| Sep 30, 2022 | 14.67% |
| Jun 30, 2022 | -67.48% |
| Mar 31, 2022 | 24.25% |
| Dec 31, 2021 | 61.54% |
| Sep 30, 2021 | 38.92% |
| Jun 30, 2021 | -24.55% |
| Mar 31, 2021 | 53.83% |