Houlihan Lokey (HLI) Free Cash Flow (2014 - 2025)
Houlihan Lokey (HLI) reported Free Cash Flow of $217.04 million for fiscal Q3 2026 (quarter ended Dec 31, 2025), down 17.1% from $261.66 million a year earlier and down 32.8% from the prior quarter.
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Analysis
Houlihan Lokey (HLI) Free Cash Flow (2014 - 2025) Analysis & Trends
Over the twelve months ended Dec 31, 2025, Houlihan Lokey's Free Cash Flow came in at $738.94 million, up 9.0% year-over-year; for FY2025 (ended Mar 31, 2025), it was $808.91 million, up 209.1% from FY2024.
- Free Cash Flow has a five-year compound annual growth rate of 24.8% (FY2020 to FY2025).
- By fiscal year, Free Cash Flow came in at $261.73 million in FY2024 (+206.0%), $85.54 million in FY2023 (-88.2%), $727.92 million in FY2022 (+28.7%) and $565.69 million in FY2021 (+111.9%).
- Five-year quarterly Free Cash Flow spans a low of -$282.51 million in fiscal Q1 2023 and a high of $546.96 million in fiscal Q3 2022.
- Year over year, Free Cash Flow gained in four of the last six quarters, with growth averaging 68.6%.
- The high point for year-over-year Free Cash Flow in five years was fiscal Q4 2023 (growth of 245.8%); the low point was fiscal Q3 2023 (a decline of 85.9%).
- Per Business Quant data, the three fiscal quarters before Q3 2026 came in at $322.99 million (Q2 2026), -$145 million (Q1 2026) and $343.9 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 106.61 Bn | 94.70 Bn | - | 923.50 Mn |
| 2 | Robinhood Markets | 91.70 Bn | 72.73 Bn | - | 708.00 Mn |
| 3 | Intercontinental Exchange | 88.95 Bn | 82.69 Bn | - | 1.85 Bn |
| 4 | Nasdaq | 54.22 Bn | 51.65 Bn | 1.50 Bn | 634.00 Mn |
| 5 | Interactive Brokers | 38.25 Bn | 15.37 Bn | - | 6.20 Bn |
| 6 | Cboe Global Markets | 33.42 Bn | 25.08 Bn | 731.60 Mn | -536.30 Mn |
| 7 | LPL Financial Holdings | 25.64 Bn | 20.96 Bn | - | 202.51 Mn |
| 8 | Tradeweb Markets | 25.45 Bn | 17.47 Bn | - | 385.77 Mn |
| 9 | Circle Internet | 22.26 Bn | 16.14 Bn | 288.85 Mn | 516.40 Mn |
| 10 | Houlihan Lokey | 8.59 Bn | 4.63 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 217.04 Mn |
| Sep 30, 2025 | 322.99 Mn |
| Jun 30, 2025 | -145.00 Mn |
| Mar 31, 2025 | 343.90 Mn |
| Dec 31, 2024 | 261.66 Mn |
| Sep 30, 2024 | 278.73 Mn |
| Jun 30, 2024 | -75.38 Mn |
| Mar 31, 2024 | 213.09 Mn |
| Dec 31, 2023 | 85.32 Mn |
| Sep 30, 2023 | 112.55 Mn |
| Jun 30, 2023 | -149.22 Mn |
| Mar 31, 2023 | 219.06 Mn |
| Dec 31, 2022 | 77.19 Mn |
| Sep 30, 2022 | 71.79 Mn |
| Jun 30, 2022 | -282.51 Mn |
| Mar 31, 2022 | 63.34 Mn |
| Dec 31, 2021 | 546.96 Mn |
| Sep 30, 2021 | 209.11 Mn |
| Jun 30, 2021 | -91.50 Mn |
| Mar 31, 2021 | 269.51 Mn |
API Access
Houlihan Lokey Free Cash Flow 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=free-cash-flow&ticker=HLI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "free-cash-flow", "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=free-cash-flow&ticker=HLI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();