Houlihan Lokey (HLI) FCF Margin (2014 - 2025)
Houlihan Lokey (HLI) recorded quarterly FCF Margin of 30.27% in Q4 2025, down 38.17% quarter-over-quarter from 48.95% in Q3 2025, and down 1098.0% on a YoY basis from 3.03% in Q4 2024.
Houlihan Lokey (HLI) FCF Margin (2014 - 2025) Analysis & Trends
Houlihan Lokey's FCF Margin history runs 12 years deep, the most recent figure standing at 30.27% for Q4 2025.
- In Q4 2025, FCF Margin fell 1098.0% year-over-year to 30.27%; the TTM figure through Dec 2025 stood at 27.9% (down 232.0% YoY), while the FY2025 annual figure was 33.85%, up 2018.0% from the prior year.
- FCF Margin was 30.27% for Q4 2025 at Houlihan Lokey, down from 48.95% in the prior quarter.
- In the past five years, FCF Margin ranged from a high of 61.54% in Q4 2021 to a low of 67.48% in Q2 2022.
- Historically, FCF Margin has averaged 19.76% across 5 years, with a median of 27.26% in 2022.
- The sharpest annual moves came in 2021 and 2022: FCF Margin jumped 3169 bps in 2021, then sank 4463 bps in 2022.
- A 5-year view of FCF Margin shows it stood at 61.54% in 2021, then slumped by 73 bps to 16.91% in 2022, then dropped by 1 bps to 16.69% in 2023, then surged by 147 bps to 41.24% in 2024, then dropped by 27 bps to 30.27% in 2025.
- The last three FCF Margin figures came in at 30.27% (Q4 2025), 48.95% (Q3 2025), and 23.92% (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | SOL Strategies | 96,012.83 Bn | 96,012.83 Bn | - | - |
| 2 | Morgan Stanley | 328.23 Bn | 194.70 Bn | - | -38.15% |
| 3 | Goldman Sachs | 313.22 Bn | -624.33 Bn | - | -188.27% |
| 4 | Schwab Charles | 154.90 Bn | 109.92 Bn | - | 111.11% |
| 5 | Robinhood Markets | 75.17 Bn | 70.53 Bn | 960.00 Mn | 190.16% |
| 6 | Interactive Brokers | 38.41 Bn | 49.00 Bn | - | 214.80% |
| 7 | LPL Financial Holdings | 23.13 Bn | 22.10 Bn | - | 2.52% |
| 8 | Tradeweb Markets | 21.12 Bn | 19.87 Bn | - | 16.77% |
| 9 | Circle Internet | 19.75 Bn | 18.24 Bn | 35.01 Mn | 28.16% |
| 10 | Houlihan Lokey | 9.39 Bn | 8.33 Bn | 697.95 Mn | 30.27% |
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% |