Houlihan Lokey (HLI) Operating Leases (2019 - 2025)

Houlihan Lokey's Operating Leases history runs 7 years deep, the most recent figure standing at $497.1 million for Q4 2025.

• In Q4 2025, Operating Leases rose 14.8% year-over-year to $497.1 million; the TTM figure through Dec 2025 stood at $497.1 million (up 14.8% YoY), while the FY2025 annual figure was $438.2 million, up 5.48% from the prior year.
• Operating Leases was $497.1 million for Q4 2025 at Houlihan Lokey, up from $432.9 million in the prior quarter.
• In the past five years, Operating Leases ranged from a high of $497.1 million in Q4 2025 to a low of $164.2 million in Q3 2021.
• Historically, Operating Leases has averaged $336.0 million across 5 years, with a median of $417.4 million in 2023.
• The sharpest annual moves came in 2021 and 2023: Operating Leases slipped 3.8% in 2021, then soared 128.19% in 2023.
• A 5-year view of Operating Leases shows it stood at $187.3 million in 2021, then jumped by 51.51% to $283.7 million in 2022, then jumped by 48.07% to $420.1 million in 2023, then increased by 3.08% to $433.0 million in 2024, then grew by 14.8% to $497.1 million in 2025.
• The last three Operating Leases figures came in at $497.1 million (Q4 2025), $432.9 million (Q3 2025), and $440.4 million (Q2 2025), per Business Quant data.