Corporate Finance (1) was Houlihan Lokey’s largest segment in fiscal 2025, bringing in $1.53B of $2.39B (64%).
| Segment | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Corporate Finance (1) | — | $1.13B | $1.11B | $1.53B | ||||||||
| Corporate Finance | $1.59B | — | — | — | ||||||||
| Financial Restructuring | $392.82M | $395.73M | $521.98M | $544.48M | ||||||||
| Financial & Valuation Advisory (2) | — | $286.59M | $285.59M | $318.18M | ||||||||
| Financial & Valuation Advisory | $284.06M | — | — | — | ||||||||
| Financial Advisory Services | — | — | — | — | ||||||||
| Corporate, Non-Segment | — | — | — | — | ||||||||
| Total | $2.27B | $1.81B | $1.91B | $2.39B |
Houlihan Lokey brought in $2.39B from its three segments in fiscal 2025, the year ended March 31, 2025. That was up 24.8% from $1.91B in fiscal 2024. Corporate Finance (1) was the largest at $1.53B (63.9%), ahead of Financial Restructuring at $544.48M (22.8%) and Financial & Valuation Advisory (2) at $318.18M (13.3%).
Compared with fiscal 2024, Corporate Finance (1) grew fastest, up 37.9% to $1.53B. Every segment above 2% of revenue grew.
Houlihan Lokey began breaking out Corporate Finance (1) in fiscal 2023 and Financial & Valuation Advisory (2) in fiscal 2023. Houlihan Lokey stopped reporting Corporate Finance ($1.59B in fiscal 2022) and Financial & Valuation Advisory ($284.06M in fiscal 2022) as separate segments.
United States was Houlihan Lokey’s largest region in fiscal 2025, bringing in $1.70B of $2.39B (71%).
| Geography | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| United States | $1.69B | $1.29B | $1.34B | $1.70B | ||||||||
| International | $579.25M | $520.08M | $570.10M | $687.25M | ||||||||
| Total | $2.27B | $1.81B | $1.91B | $2.39B |
Houlihan Lokey brought in $2.39B from its two regions in fiscal 2025, the year ended March 31, 2025. That was up 24.8% from $1.91B in fiscal 2024. United States was the largest at $1.70B (71.2%), ahead of International at $687.25M (28.8%).
Compared with fiscal 2024, United States grew 26.6% to $1.70B and International grew 20.5% to $687.25M. From fiscal 2022 to 2025, combined revenue from these regions grew from $2.27B to $2.39B, a compound annual growth rate of 1.7%. United States' share of the total fell from 74.5% to 71.2%.
Houlihan Lokey (HLI) reports its revenue by segment and by geography. In fiscal 2025, Corporate Finance (1) was its largest segment, bringing in $1.53B (63.9% of the total), followed by Financial Restructuring at $544.48M (22.8%).
Corporate Finance (1) was Houlihan Lokey's largest segment in fiscal 2025, bringing in $1.53B, or 63.9% of the $2.39B total across its three segments.
United States was Houlihan Lokey's largest region in fiscal 2025, bringing in $1.70B, or 71.2% of the $2.39B total across its two regions.
Among Houlihan Lokey's segments that make up at least 2% of revenue, Corporate Finance (1) grew fastest in fiscal 2025, up 37.9% from $1.11B to $1.53B.
Every figure comes from Houlihan Lokey's annual financial filings, as reported. Each line keeps the name Houlihan Lokey gives it, and years follow its fiscal calendar.
Houlihan Lokey's revenue by segment goes back to fiscal 2014, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.