Houlihan Lokey (HLI) Tax Rate (2014 - 2025)

Houlihan Lokey has reported Tax Rate for 12 years, with the latest figure at 31.3% in Q4 2025.

• Tax Rate for Q4 2025 came in at 31.3%, down 303.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 22.44% (down 566.0% YoY), and the FY2025 annual result was 24.77%, down 345.0% from the prior year.
• Tax Rate advanced to 31.3% in Q4 2025, from 30.16% in the prior quarter.
• Over five years, Tax Rate peaked at 34.33% in Q4 2024 and troughed at 6.65% in Q2 2022.
• A 5-year average of 25.64% and a median of 28.13% in 2022 frame the typical range for Tax Rate.
• The widest annual swing landed in 2021, when Tax Rate surged 4776 bps; it then plunged 1360 bps in 2022.
• A 5-year view of Tax Rate shows it stood at 30.0% in 2021, then retreated by 18 bps to 24.59% in 2022, then climbed by 26 bps to 30.97% in 2023, then grew by 11 bps to 34.33% in 2024, then retreated by 9 bps to 31.3% in 2025.
• Per Business Quant data, the three most recent Tax Rate figures were 31.3% in Q4 2025, 30.16% in Q3 2025, and 18.86% in Q1 2025.