Houlihan Lokey (HLI) Net Margin (2014 - 2025)

Houlihan Lokey (HLI) has reported Net Margin for 12 consecutive years, with 16.25% the latest figure, recorded in Q4 2025.

• In Q4 2025, Net Margin rose 123.0% year-over-year to 16.25%; the TTM figure through Dec 2025 stood at 16.91% (up 91.0% YoY), while the FY2025 annual figure was 16.73%, up 209.0% from the prior year.
• Net Margin came in at 16.25% for Q4 2025 at Houlihan Lokey, down from 16.95% in the prior quarter.
• The five-year high for Net Margin was 24.95% in Q1 2022, with the low at 12.41% in Q3 2022.
• Average Net Margin over 5 years is 16.99%, with a median of 16.26% recorded in 2024.
• Across the five-year window, Net Margin jumped 511 bps in 2022 and slumped 1154 bps in 2023, its largest moves.
• Year by year, Net Margin stood at 19.61% in 2021, then retreated by 30 bps to 13.81% in 2022, then grew by 0 bps to 13.85% in 2023, then gained by 8 bps to 15.02% in 2024, then rose by 8 bps to 16.25% in 2025.
• According to Business Quant data, Net Margin over the past three periods registered 16.25%, 16.95%, and 16.11% for Q4 2025, Q3 2025, and Q2 2025 respectively.