Houlihan Lokey (HLI) Tax Rate (2014 - 2025)
Houlihan Lokey's Tax Rate came in at 31.30% for fiscal Q3 2026 (quarter ended Dec 31, 2025), down 3.03 percentage points from 34.33% a year earlier but up 1.14 percentage points from the prior quarter.
Houlihan Lokey (HLI) Tax Rate (2014 - 2025) Analysis & Trends
Over the trailing twelve months to Dec 31, 2025, Houlihan Lokey reported Tax Rate of 22.44%, down 5.66 percentage points year-over-year; for FY2025 (ended Mar 31, 2025), it came in at 24.77%, down 3.45 percentage points from FY2024.
- Tax Rate carries a five-year change of +2.77 percentage points (FY2020 to FY2025).
- Going back by fiscal year, Tax Rate was 28.23% in FY2024 (+6.69 pp), 21.54% in FY2023 (-5.89 pp), 27.42% in FY2022 (+3.85 pp) and 23.57% in FY2021 (+1.57 pp).
- The five-year range for quarterly Tax Rate is 6.65% (fiscal Q1 2023) to 34.33% (fiscal Q3 2025).
- Year-over-year, Tax Rate increased in three of the last seven quarters, with an average year-over-year change of -1.91 percentage points.
- The fastest year-over-year change in Tax Rate over five years came in fiscal Q1 2022 (a gain of 25.61 percentage points), and the weakest in fiscal Q1 2023 (a drop of 13.60 percentage points).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 106.87 Bn | 94.96 Bn | - | 21.53% |
| 2 | Robinhood Markets | 88.92 Bn | 69.95 Bn | - | 19.18% |
| 3 | Intercontinental Exchange | 88.75 Bn | 82.48 Bn | - | 24.24% |
| 4 | Nasdaq | 53.23 Bn | 50.66 Bn | 1.50 Bn | 22.36% |
| 5 | Interactive Brokers | 36.96 Bn | 14.07 Bn | - | 8.10% |
| 6 | Cboe Global Markets | 32.87 Bn | 24.52 Bn | 731.60 Mn | 28.62% |
| 7 | LPL Financial Holdings | 25.78 Bn | 21.10 Bn | - | 26.43% |
| 8 | Tradeweb Markets | 25.36 Bn | 17.37 Bn | - | 23.50% |
| 9 | Circle Internet | 21.08 Bn | 14.96 Bn | 288.85 Mn | 7.84% |
| 10 | Houlihan Lokey | 8.76 Bn | 4.80 Bn | - | - |
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 31.30% |
| Sep 30, 2025 | 30.16% |
| Mar 31, 2025 | 18.86% |
| Dec 31, 2024 | 34.33% |
| Sep 30, 2024 | 31.26% |
| Jun 30, 2024 | 10.95% |
| Mar 31, 2024 | 31.31% |
| Dec 31, 2023 | 30.97% |
| Sep 30, 2023 | 28.37% |
| Jun 30, 2023 | 19.60% |
| Mar 31, 2023 | 25.71% |
| Dec 31, 2022 | 24.59% |
| Sep 30, 2022 | 27.93% |
| Jun 30, 2022 | 6.65% |
| Mar 31, 2022 | 28.13% |
| Dec 31, 2021 | 30.00% |
| Sep 30, 2021 | 27.85% |
| Jun 30, 2021 | 20.24% |
| Mar 31, 2021 | 28.92% |
| Dec 31, 2020 | 25.28% |
Houlihan Lokey Tax Rate API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=tax-rate&ticker=HLI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "tax-rate", "ticker": "HLI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=tax-rate&ticker=HLI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();