Houlihan Lokey (HLI) Free Cash Flow (2014 - 2025)

Houlihan Lokey has reported Free Cash Flow for 12 years, with the latest figure at $217.0 million in Q4 2025.

• Free Cash Flow for Q4 2025 came in at $217.0 million, down 17.05% year-over-year; the trailing twelve-month figure through Mar 2026 was $395.0 million (down 51.16% YoY), and the FY2025 annual result was $808.9 million, up 209.07% from the prior year.
• Free Cash Flow eased to $217.0 million in Q4 2025, from $323.0 million in the prior quarter.
• Over five years, Free Cash Flow peaked at $547.0 million in Q4 2021 and troughed at -$282.5 million in Q2 2022.
• A 5-year average of $127.4 million and a median of $160.8 million in 2021 frame the typical range for Free Cash Flow.
• The widest annual swing landed in 2022, when Free Cash Flow tumbled 208.76%; it then soared 245.84% in 2023.
• A 5-year view of Free Cash Flow shows it stood at $547.0 million in 2021, then slumped by 85.89% to $77.2 million in 2022, then gained by 10.52% to $85.3 million in 2023, then jumped by 206.7% to $261.7 million in 2024, then retreated by 17.05% to $217.0 million in 2025.
• Per Business Quant data, the three most recent Free Cash Flow figures were $217.0 million in Q4 2025, $323.0 million in Q3 2025, and -$145.0 million in Q2 2025.