Houlihan Lokey (HLI) Rent Expense (2014 - 2025)

Houlihan Lokey has reported Rent Expense for 12 years, with the latest figure at $19.5 million in Q4 2025.

• On a quarterly basis, Rent Expense fell 12.29% year-over-year to $19.5 million in Q4 2025; TTM through Dec 2025 was $76.4 million, a 1.21% decrease from a year earlier, with the FY2025 full-year figure at $77.9 million, up 2.37% from the prior year.
• Rent Expense was $19.5 million for Q4 2025 at Houlihan Lokey, up from $17.8 million in the prior quarter.
• The five-year high for Rent Expense was $22.3 million in Q4 2024, with the low at $9.0 million in Q3 2021.
• Average Rent Expense over 5 years is $16.1 million, with a median of $17.6 million recorded in 2023.
• The sharpest annual moves came in 2022 and 2024: Rent Expense jumped 53.1% in 2022, then dropped 20.19% in 2024.
• Over 5 years, Rent Expense stood at $14.4 million in 2021, then slipped by 10.45% to $12.9 million in 2022, then surged by 47.85% to $19.0 million in 2023, then rose by 17.14% to $22.3 million in 2024, then retreated by 12.29% to $19.5 million in 2025.
• The last three Rent Expense figures came in at $19.5 million (Q4 2025), $17.8 million (Q3 2025), and $18.0 million (Q2 2025), per Business Quant data.