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

Houlihan Lokey (HLI) has reported Free Cash Flow for 12 consecutive years, with $217.0 million the latest figure, recorded in Q4 2025.

• In Q4 2025, Free Cash Flow fell 17.05% year-over-year to $217.0 million; the TTM figure through Dec 2025 stood at $738.9 million (up 8.97% YoY), while the FY2025 annual figure was $808.9 million, up 209.07% from the prior year.
• Free Cash Flow came in at $217.0 million for Q4 2025 at Houlihan Lokey, down from $322.8 million in the prior quarter.
• The five-year high for Free Cash Flow was $547.0 million in Q4 2021, with the low at -$282.5 million in Q2 2022.
• Average Free Cash Flow over 5 years is $127.4 million, with a median of $160.8 million recorded in 2021.
• Across the five-year window, Free Cash Flow sank 208.76% in 2022 and soared 245.84% in 2023, its largest moves.
• Year by year, Free Cash Flow stood at $547.0 million in 2021, then slumped by 85.89% to $77.2 million in 2022, then increased by 10.52% to $85.3 million in 2023, then surged by 206.7% to $261.7 million in 2024, then declined by 17.05% to $217.0 million in 2025.
• According to Business Quant data, Free Cash Flow over the past three periods registered $217.0 million, $322.8 million, and -$144.8 million for Q4 2025, Q3 2025, and Q2 2025 respectively.