Houlihan Lokey (HLI) Share-based Compensation (2014 - 2025)
Houlihan Lokey (HLI) posted Share-based Compensation of $60.9 million for Q4 2025, up 30.65% on a QoQ basis from $46.6 million in Q3 2025, and up 33.64% year-over-year from $45.6 million in Q4 2024.
Analysis
Houlihan Lokey (HLI) Share-based Compensation (2014 - 2025) Analysis & Trends
Houlihan Lokey has reported Share-based Compensation for 12 years, with the latest figure at $60.9 million in Q4 2025.
- On a quarterly basis, Share-based Compensation rose 33.64% year-over-year to $60.9 million in Q4 2025; TTM through Dec 2025 was $289.0 million, a 24.37% increase from a year earlier, with the FY2025 full-year figure at $168.4 million, up 1.11% from the prior year.
- Share-based Compensation was $60.9 million for Q4 2025 at Houlihan Lokey, up from $46.6 million in the prior quarter.
- The five-year high for Share-based Compensation was $137.0 million in Q2 2025, with the low at $15.6 million in Q1 2021.
- Average Share-based Compensation over 5 years is $47.2 million, with a median of $42.4 million recorded in 2022.
- The sharpest annual moves came in 2021 and 2022: Share-based Compensation declined 5.51% in 2021, then jumped 118.4% in 2022.
- Over 5 years, Share-based Compensation stood at $19.2 million in 2021, then surged by 112.82% to $40.8 million in 2022, then increased by 7.89% to $44.0 million in 2023, then increased by 3.67% to $45.6 million in 2024, then soared by 33.64% to $60.9 million in 2025.
- The last three Share-based Compensation figures came in at $60.9 million (Q4 2025), $46.6 million (Q3 2025), and $137.0 million (Q2 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Share-based Compensation (Qtr) |
|---|---|---|---|---|---|
| 1 | Evercore | 10.14 Bn | 8.05 Bn | 975.67 Mn | 219.59 Mn |
| 2 | Jefferies Financial | 9.74 Bn | -5.67 Bn | 3.09 Bn | -52.06 Mn |
| 3 | Houlihan Lokey | 9.07 Bn | 7.99 Bn | - | - |
| 4 | Cluster Group Holdings | 8.00 Bn | 8.00 Bn | - | - |
| 5 | PJT Partners | 5.75 Bn | 5.81 Bn | 481.98 Mn | 55.47 Mn |
| 6 | Moelis | 5.25 Bn | 5.17 Bn | - | 45.48 Mn |
| 7 | Piper Sandler Companies | 4.88 Bn | 4.77 Bn | - | 46.02 Mn |
| 8 | Lazard | 3.95 Bn | 2.96 Bn | - | 3.98 Mn |
| 9 | BRBI BR Partners | 3.50 Bn | 3.38 Bn | 16.77 Mn | - |
| 10 | Perella Weinberg Partners | 1.40 Bn | 1.59 Bn | - | 12.28 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 60.92 Mn |
| Sep 30, 2025 | 46.63 Mn |
| Jun 30, 2025 | 137.00 Mn |
| Mar 31, 2025 | 44.46 Mn |
| Dec 31, 2024 | 45.59 Mn |
| Sep 30, 2024 | 45.33 Mn |
| Jun 30, 2024 | 100.99 Mn |
| Mar 31, 2024 | 40.47 Mn |
| Dec 31, 2023 | 43.97 Mn |
| Sep 30, 2023 | 42.74 Mn |
| Jun 30, 2023 | 69.77 Mn |
| Mar 31, 2023 | 34.17 Mn |
| Dec 31, 2022 | 40.76 Mn |
| Sep 30, 2022 | 41.40 Mn |
| Jun 30, 2022 | 42.12 Mn |
| Mar 31, 2022 | 19.48 Mn |
| Dec 31, 2021 | 19.15 Mn |
| Sep 30, 2021 | 18.96 Mn |
| Jun 30, 2021 | 34.29 Mn |
| Mar 31, 2021 | 15.64 Mn |