Houlihan Lokey (HLI) FCF Margin (2014 - 2026)
Houlihan Lokey's FCF Margin was 34.68% in fiscal Q2 2027 (quarter ended Sep 30, 2026), down 14.26 percentage points from 48.94% a year earlier but up 101.61 percentage points from the prior quarter.
Houlihan Lokey (HLI) FCF Margin (2014 - 2026) Analysis & Trends
On a trailing twelve-month basis, Houlihan Lokey's FCF Margin was 15.72% through Sep 30, 2026, down 14.82 percentage points year-over-year; for FY2026 (ended Mar 31, 2026), it was 26.05%, down 7.81 percentage points from FY2025.
- FCF Margin shows a five-year change of -11.04 percentage points (FY2021 to FY2026).
- In earlier fiscal years, FCF Margin was 33.85% in FY2025 (+20.18 pp), 13.67% in FY2024 (+8.94 pp), 4.73% in FY2023 (-27.34 pp) and 32.07% in FY2022 (-5.02 pp).
- Quarterly FCF Margin has moved between -67.48% (fiscal Q1 2023) and 61.54% (fiscal Q3 2022) over five years.
- Compared with a year earlier, FCF Margin has declined for four straight quarters, with an average year-over-year change of -6.04 percentage points over the last eight quarters.
- The best year-over-year quarter for FCF Margin over five years was fiscal Q4 2023 (a gain of 35.81 percentage points); the worst was fiscal Q3 2023 (a drop of 44.63 percentage points).
- Per Business Quant data, HLI's FCF Margin in the three fiscal quarters before Q2 2027 was -66.93% (Q1 2027), 45.12% (Q4 2026) and 30.27% (Q3 2026).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 109.34 Bn | 97.67 Bn | - | 61.60% |
| 2 | Bank of New York Mellon | 103.32 Bn | 36.94 Bn | - | 71.32% |
| 3 | Intercontinental Exchange | 97.84 Bn | 90.74 Bn | - | 28.98% |
| 4 | Robinhood Markets | 73.91 Bn | 53.45 Bn | - | 85.32% |
| 5 | Nasdaq | 60.30 Bn | 57.74 Bn | 1.48 Bn | 19.18% |
| 6 | State Street | 47.09 Bn | 47.09 Bn | - | 47.58% |
| 7 | Cboe Global Markets | 37.14 Bn | 27.62 Bn | 712.20 Mn | 58.36% |
| 8 | Interactive Brokers | 35.28 Bn | 11.58 Bn | - | 42.53% |
| 9 | Northern Trust | 32.35 Bn | 32.35 Bn | - | 131.29% |
| 10 | Houlihan Lokey | 9.82 Bn | 5.99 Bn | - | 34.68% |
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 34.68% |
| Jun 30, 2026 | -66.93% |
| Mar 31, 2026 | 45.12% |
| Dec 31, 2025 | 30.27% |
| Sep 30, 2025 | 48.94% |
| Jun 30, 2025 | -23.97% |
| 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 | 13.44% |
| Dec 31, 2021 | 61.54% |
Houlihan Lokey FCF Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=fcf-margin&ticker=HLI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "HLI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=HLI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();