Houlihan Lokey (HLI) Net Margin (2014 - 2025)
Houlihan Lokey (HLI) posted Net Margin of 16.25% for fiscal Q3 2026 (quarter ended Dec 31, 2025), up 1.23 percentage points from 15.02% a year earlier but down 0.70 percentage points from the prior quarter.
Houlihan Lokey (HLI) Net Margin (2014 - 2025) Analysis & Trends
For the trailing twelve months through Dec 31, 2025, Net Margin at Houlihan Lokey was 16.93%, up 0.93 percentage points year-over-year; for FY2025 (ended Mar 31, 2025), it was 16.73%, up 2.09 percentage points from FY2024.
- Annual Net Margin shows a five-year change of +0.88 percentage points (FY2020 to FY2025).
- In prior fiscal years, Houlihan Lokey's Net Margin was 14.64% in FY2024 (+0.59 pp), 14.05% in FY2023 (-5.23 pp), 19.28% in FY2022 (-1.22 pp) and 20.50% in FY2021 (+4.65 pp).
- Quarterly Net Margin has run from a low of 12.41% in fiscal Q2 2023 to a high of 23.06% in fiscal Q1 2022 over five years.
- On a year-over-year basis, Net Margin increased in seven of the last eight quarters, with an average year-over-year change of +1.41 percentage points.
- The strongest year-over-year quarter for Net Margin in the past five years was fiscal Q2 2022, with a gain of 3.32 percentage points; the weakest was fiscal Q2 2023, with a drop of 8.60 percentage points.
- According to Business Quant data, Net Margin for the three prior fiscal quarters was 16.95% (Q2 2026), 16.20% (Q1 2026) and 18.29% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 106.56 Bn | 94.66 Bn | - | 61.06% |
| 2 | Intercontinental Exchange | 89.45 Bn | 83.19 Bn | - | 26.53% |
| 3 | Robinhood Markets | 88.18 Bn | 69.22 Bn | - | 42.89% |
| 4 | Nasdaq | 53.47 Bn | 50.90 Bn | 1.50 Bn | 20.02% |
| 5 | Interactive Brokers | 37.14 Bn | 14.26 Bn | - | 16.46% |
| 6 | Cboe Global Markets | 33.00 Bn | 24.66 Bn | 731.60 Mn | 24.38% |
| 7 | LPL Financial Holdings | 25.71 Bn | 21.03 Bn | - | 7.31% |
| 8 | Tradeweb Markets | 25.33 Bn | 17.34 Bn | - | 32.44% |
| 9 | Circle Internet | 21.30 Bn | 15.18 Bn | 288.85 Mn | 6.88% |
| 10 | Houlihan Lokey | 8.72 Bn | 4.75 Bn | - | - |
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 16.25% |
| Sep 30, 2025 | 16.95% |
| Jun 30, 2025 | 16.20% |
| Mar 31, 2025 | 18.29% |
| Dec 31, 2024 | 15.02% |
| Sep 30, 2024 | 16.27% |
| Jun 30, 2024 | 17.32% |
| Mar 31, 2024 | 15.58% |
| Dec 31, 2023 | 13.85% |
| Sep 30, 2023 | 14.35% |
| Jun 30, 2023 | 14.76% |
| Mar 31, 2023 | 13.41% |
| Dec 31, 2022 | 13.81% |
| Sep 30, 2022 | 12.41% |
| Jun 30, 2022 | 16.91% |
| Mar 31, 2022 | 13.83% |
| Dec 31, 2021 | 19.55% |
| Sep 30, 2021 | 21.01% |
| Jun 30, 2021 | 23.06% |
| Mar 31, 2021 | 19.85% |
Houlihan Lokey Net 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=net-margin&ticker=HLI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=HLI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();