HLI
Houlihan Lokey, Inc.
NYSEUSDEQUITY
Financial Services
DELAYED
Sell
-24/100
Last price
127.94
▲ 1.04 (0.82%)
MARKET · —
Price
Chart style
Interval
Intraday intervals only cover recent history. The site picks the finest interval the range allows.
Overlays
Session levels
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Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
—
H —
L —
Range —
Vol —
vs
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Open
127.50
Prev close
126.90
Day high
129.53
Day low
127.50
Volume
757.26K
Market cap
$8.94B
P/E (TTM)
21.29
52W range
112.83 – 204.18
Day trading desk
Gap from prior close
+0.47%
Prior close 126.90
VWAP
128.17
-0.18% from price
Relative volume
1.10×
Normal
Session range
1.60%
127.50 – 129.53
Position in range
22%
Near session low
ATR (14D)
3.97
3.10% of price
Prior day high
128.02
PDH
Prior day low
124.60
PDL
Bid / ask spread
—
Quote not published
Session volume
990.17K
Avg 900.93K
VWAP and the session figures are computed from the delayed intraday series on this page, so they lag the live tape and will not match a broker's real-time VWAP exactly. Turn on Prior day H/L/C, Opening range and Volume profile in the chart's Studies menu to see these levels drawn on price.
Trailing performance
Returnvs SPY
1W
+0.38%
-1.6%
1M
-6.69%
-7.8%
3M
-4.74%
-9.3%
6M
-10.45%
-28.6%
YTD
-26.55%
-40.8%
1Y
-36.48%
-52.9%
3Y
+19.44%
-62.8%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on HLI open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
+9.21K
Net buying
Buy transactions
9
16.48K shares
Sell transactions
2
7.26K shares
Net transactions
+11
Buys less sells
Sell : buy shares
0.4 : 1
Mixed
Insider-held shares
140.47K
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Sep 10, 26 | CRAIN CHRISTOPHER MADISON General Counsel |
SELL | 1.00K | $140.15K | Direct |
| Sep 10, 26 | CRAIN CHRISTOPHER MADISON General Counsel |
— | 1.00K | — | Direct |
| Aug 3, 26 | ALLEY JAMES LINDSEY Chief Financial Officer |
BUY | 4.02K | $500.57K | Direct |
| May 21, 26 | BEISER SCOTT L. Chairman of the Board |
SELL | 6.26K | $941.38K | Direct |
| May 21, 26 | SCHRIESHEIM ROBERT A Director |
STOCK | 1.13K | $0 | Direct |
| May 21, 26 | ZUBER PAUL ANDREW Director |
STOCK | 797 | $0 | Indirect |
| May 21, 26 | ZUCKER GILLIAN BETH Director |
STOCK | 996 | $0 | Direct |
| May 21, 26 | WALKER CYRUS D Director |
STOCK | 996 | $0 | Direct |
| May 21, 26 | BASSEY EKPEDEME M. Director |
STOCK | 797 | $0 | Direct |
| May 21, 26 | MUND RONALD SCOTT Director |
STOCK | 476 | $0 | Direct |
| May 21, 26 | BEISER SCOTT L. Chairman of the Board |
— | 6.26K | — | Direct |
| Apr 1, 26 | CRAIN CHRISTOPHER MADISON General Counsel |
SELL | 500 | $71.70K | Direct |
| Apr 1, 26 | CRAIN CHRISTOPHER MADISON General Counsel |
— | 500 | — | Direct |
| Feb 6, 26 | SCHRIESHEIM ROBERT A Director |
SELL | 5.00K | $854.30K | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
ALLEY JAMES LINDSEY |
Chief Financial Officer | 4.02K | Purchase |
BASSEY EKPEDEME M. |
Director | 6.42K | Stock Award(Grant) |
BEISER SCOTT L. |
Chairman of the Board | 0 | Sale |
KOSECOFF JACQUELINE B |
Director | 15.32K | Stock Award(Grant) |
MUND RONALD SCOTT |
Director | 969 | Stock Award(Grant) |
SCHRIESHEIM ROBERT A |
Director | 29.11K | Stock Award(Grant) |
SIEGERT PAUL ERIC |
Chairman of the Board | 0 | Sale |
WALKER CYRUS D |
Director | 7.11K | Stock Award(Grant) |
ZUBER PAUL ANDREW |
Director | — | Stock Award(Grant) |
ZUCKER GILLIAN BETH |
Director | 6.53K | Stock Award(Grant) |
Fundamentals
Market cap$8.94B
Enterprise value$8.80B
Revenue (TTM)$2.52B
Gross profit$2.37B
EBITDA—
Net income$405.70M
EPS (TTM)$6.01
Free cash flow—
Total cash$745.00M
Total debt$493.00M
Book value / share$32.26
Shares outstanding54.20M
Float54.03M
Short % of float4.78%
Dividend yield2.21%
Beta (5Y)1.01
Valuation & profitability ratios
Trailing P/E21.29
Forward P/E14.59
PEG ratio—
Price / sales—
Price / book3.97
EV / revenue3.49
EV / EBITDA—
Gross margin94.11%
Operating margin18.39%
Profit margin16.08%
Return on equity17.79%
Return on assets11.17%
Debt / equity20.85
Current ratio1.66
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2026 | 2025 | 2024 | 2023 | YoY |
|---|---|---|---|---|---|
| Total revenue | $2.62B | $2.39B | $1.91B | $1.81B | +9.5% |
| Operating revenue | $2.62B | $2.39B | $1.91B | $1.81B | +9.5% |
| Cost of revenue | $1.61B | $1.47B | $1.18B | $1.11B | +9.5% |
| Gross profit | $1.01B | $919.92M | $737.05M | $696.64M | +9.5% |
| Selling, general & admin | $201.12M | $188.48M | $185.32M | $142.90M | +6.7% |
| Total operating expense | $389.21M | $363.60M | $337.95M | $319.83M | +7.0% |
| Operating income | $618.53M | $556.32M | $399.10M | $376.81M | +11.2% |
| Pre-tax income | $562.26M | $531.34M | $390.54M | $324.00M | +5.8% |
| Tax provision | $138.09M | $131.62M | $110.24M | $69.78M | +4.9% |
| Net income | $425.70M | $399.71M | $280.30M | $254.22M | +6.5% |
| Net income to common | $425.70M | $399.71M | $280.30M | $254.22M | +6.5% |
| Basic EPS | 6.40 | 6.08 | 4.36 | 4.25 | +5.3% |
| Diluted EPS | 6.22 | 5.82 | 4.11 | 3.98 | +6.9% |
| EBIT | $618.53M | $556.32M | $399.10M | $376.81M | +11.2% |
| EBITDA | $661.17M | $597.59M | $427.63M | $435.03M | +10.6% |
| Basic shares | 66.55M | 65.72M | 64.34M | 63.36M | +1.3% |
| Diluted shares | 68.43M | 68.66M | 68.16M | 67.59M | -0.3% |
| Line item | 2026 | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $1.19B | $971.01M | $721.24M | $714.44M | — | +22.5% |
| Cash & short-term investments | $1.32B | $1.14B | $728.80M | $720.69M | — | +15.6% |
| Accounts receivable | $228.31M | $257.33M | $199.63M | $182.03M | — | -11.3% |
| Total current assets | $1.82B | $1.55B | $1.15B | $1.04B | — | +16.9% |
| Property, plant & equipment | $550.33M | $512.02M | $480.73M | $422.22M | — | +7.5% |
| Goodwill & intangibles | $1.60B | $1.50B | $1.32B | $1.29B | — | +6.9% |
| Total assets | $4.31B | $3.82B | $3.17B | $2.97B | — | +12.8% |
| Total current liabilities | $1.21B | $1.07B | $873.34M | $919.99M | — | +12.9% |
| Long-term debt | — | — | — | — | $539.00K | — |
| Total debt | $492.11M | $438.19M | $415.41M | $374.87M | — | +12.3% |
| Total liabilities | $1.86B | $1.64B | $1.33B | $1.36B | — | +12.8% |
| Retained earnings | $1.65B | $1.39B | $1.16B | $1.03B | — | +18.0% |
| Shareholder equity | $2.34B | $2.17B | $1.84B | $1.61B | — | +7.7% |
| Working capital | $603.22M | $479.57M | $280.58M | $115.84M | — | +25.8% |
| Net tangible assets | $742.32M | $677.62M | $511.81M | $322.14M | — | +9.5% |
| Shares issued | 69.49M | 69.84M | 69.10M | 68.69M | — | -0.5% |
| Line item | 2026 | 2025 | 2024 | 2023 | YoY |
|---|---|---|---|---|---|
| Net income | $424.17M | $399.71M | $280.30M | $254.22M | +6.1% |
| Depreciation & amortisation | $42.63M | $41.27M | $28.54M | $58.22M | +3.3% |
| Stock-based compensation | $201.30M | $168.44M | $166.59M | $156.94M | +19.5% |
| Change in working capital | -$2.07M | $196.07M | -$196.37M | -$368.51M | -101.1% |
| Operating cash flow | $704.13M | $848.61M | $328.46M | $136.27M | -17.0% |
| Capital expenditure | -$22.31M | -$39.70M | -$66.73M | -$50.73M | +43.8% |
| Investing cash flow | $2.18M | -$265.06M | -$70.41M | -$3.00M | +100.8% |
| Share buybacks | -$175.43M | -$52.51M | -$24.95M | -$48.66M | -234.1% |
| Dividends paid | -$174.04M | -$165.22M | -$148.45M | -$140.38M | -5.3% |
| Financing cash flow | -$492.94M | -$329.07M | -$250.59M | -$240.46M | -49.8% |
| Free cash flow | $681.82M | $808.91M | $261.73M | $85.54M | -15.7% |
| End cash position | $1.19B | $975.58M | $721.85M | $714.81M | +22.4% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $511.00M | $635.64M | $717.07M | $659.45M | $605.00M | -19.6% |
| Operating revenue | $511.00M | $635.64M | $717.07M | $659.45M | $605.00M | -19.6% |
| Cost of revenue | $314.00M | $390.92M | $441.00M | $405.56M | $372.00M | -19.7% |
| Gross profit | $197.00M | $244.72M | $276.07M | $253.89M | $233.00M | -19.5% |
| Selling, general & admin | $57.00M | $57.02M | $51.62M | $44.77M | $48.00M | -0.0% |
| Total operating expense | $105.00M | $101.71M | $97.77M | $84.91M | $104.00M | +3.2% |
| Operating income | $92.00M | $143.01M | $178.30M | $168.98M | $129.00M | -35.7% |
| Pre-tax income | $86.00M | $134.51M | $169.65M | $160.05M | $98.00M | -36.1% |
| Tax provision | $8.00M | $36.20M | $53.10M | $48.27M | $0 | -77.9% |
| Net income | $78.00M | $99.83M | $116.55M | $111.78M | $98.00M | -21.9% |
| Net income to common | $78.00M | $99.83M | $116.55M | $111.78M | $98.00M | -21.9% |
| Basic EPS | 1.17 | 1.50 | 1.75 | 1.67 | 1.47 | -22.0% |
| Diluted EPS | 1.15 | 1.47 | 1.70 | 1.63 | 1.42 | -21.8% |
| EBIT | $92.00M | $143.01M | $178.30M | $168.98M | $129.00M | -35.7% |
| EBITDA | $100.00M | $151.06M | $186.60M | $179.28M | $145.00M | -33.8% |
| Basic shares | 66.50M | 66.34M | 66.63M | 66.96M | 66.24M | +0.2% |
| Diluted shares | 67.60M | 68.07M | 68.43M | 68.59M | 68.89M | -0.7% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $745.00M | $1.19B | $1.06B | $923.58M | $793.82M | -37.4% |
| Cash & short-term investments | $756.00M | $1.32B | $1.14B | $1.08B | $837.13M | -42.6% |
| Accounts receivable | $224.00M | $228.31M | $210.88M | $251.16M | $218.18M | -1.9% |
| Total current assets | $1.24B | $1.82B | $1.58B | $1.52B | $1.24B | -32.0% |
| Property, plant & equipment | $555.00M | $550.33M | $556.57M | $497.81M | $514.83M | +0.8% |
| Goodwill & intangibles | $1.60B | $1.60B | $1.49B | $1.49B | $1.50B | -0.1% |
| Total assets | $3.72B | $4.31B | $3.94B | $3.79B | $3.52B | -13.7% |
| Total current liabilities | $711.00M | $1.21B | $988.79M | $931.62M | $797.55M | -41.4% |
| Total debt | $493.00M | $492.11M | $497.13M | $432.90M | $440.38M | +0.2% |
| Total liabilities | $1.35B | $1.86B | $1.64B | $1.55B | $1.34B | -27.2% |
| Retained earnings | $1.67B | $1.65B | $1.59B | $1.52B | $1.45B | +1.3% |
| Shareholder equity | $2.25B | $2.34B | $2.29B | $2.25B | $2.18B | -3.7% |
| Working capital | $524.00M | $603.22M | $595.38M | $590.30M | $445.60M | -13.1% |
| Net tangible assets | $656.00M | $742.32M | $801.37M | $753.89M | $679.06M | -11.6% |
| Shares issued | 69.90M | 69.49M | 69.69M | 70.14M | 70.34M | +0.6% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Net income | $78.00M | $98.31M | $116.55M | $111.31M | $98.00M | -20.7% |
| Depreciation & amortisation | $8.00M | $8.04M | $8.30M | $10.29M | $16.00M | -0.5% |
| Stock-based compensation | $45.00M | $51.53M | $60.92M | $46.85M | $42.00M | -12.7% |
| Change in working capital | -$477.00M | $149.73M | $17.32M | $143.88M | -$313.00M | -418.6% |
| Operating cash flow | -$336.00M | $293.03M | $217.68M | $325.42M | -$132.00M | -214.7% |
| Capital expenditure | -$6.00M | -$6.25M | -$639.00K | -$2.42M | -$13.00M | +4.0% |
| Investing cash flow | $112.00M | -$49.60M | $56.41M | -$114.63M | $110.00M | +325.8% |
| Share buybacks | -$50.00M | -$50.00M | -$87.90M | -$29.53M | -$8.00M | -0.0% |
| Dividends paid | -$61.00M | -$39.16M | -$40.63M | -$41.25M | -$53.00M | -55.8% |
| Financing cash flow | -$217.00M | -$92.78M | -$131.40M | -$71.77M | -$197.00M | -133.9% |
| Free cash flow | -$342.00M | $286.78M | $217.04M | $322.99M | -$145.00M | -219.3% |
| End cash position | $749.00M | $1.19B | $1.06B | $928.40M | $798.00M | -37.3% |
Options analytics
Put / call volume
0.83
Call-heavy session
Put / call open interest
0.47
Positioning, not flow
Max pain
135.00
+5.5% from spot
ATM implied vol
62.4%
Nearest strike to spot
Skew (10% OTM)
+5.9%
Puts bid over calls
Call volume
12
Contracts, this expiry
Put volume
10
Contracts, this expiry
Heaviest call OI
135.00
22 contracts
Heaviest put OI
125.00
9 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | 1.64 | 1.35 | -17.7% |
| Mar 2026 | 1.79 | 1.63 | -8.9% |
| Dec 2025 | 1.87 | 1.94 | +3.6% |
| Sep 2025 | 1.68 | 1.84 | +9.3% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | 1.64 | 10 | $625.31M | -5.2% |
| Next quarter | 1.96 | 9 | $744.79M | +3.9% |
| Current year | 7.06 | 10 | $2.63B | +0.4% |
| Next year | 8.77 | 10 | $3.14B | +19.4% |
Analyst targets & ownership
Mean target$153.63
High target$177.00
Low target$147.00
Implied upside20.08%
Analyst count8
ConsensusBUY
Strong buy / Buy2 / 3
Hold6
Sell / Strong sell0 / 0
Held by insiders0.20%
Held by institutions105.51%
Institutions holding670
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
127.94
-0.00% from price
SMA 20
130.80
-2.19% from price
SMA 50
130.52
-1.97% from price
SMA 100
135.77
-5.77% from price
SMA 200
149.01
-14.14% from price
EMA 12
128.63
-0.54% from price
EMA 26
130.12
-1.67% from price
EMA 50
131.90
-3.00% from price
RSI (14)
44.7
Neutral
MACD (12,26,9)
-1.49
Hist -0.40
ATR (14)
3.97
3.10% of price
Realised vol 30D
21.4%
Annualised
Bollinger upper
137.75
20, 2σ
Bollinger lower
123.85
20, 2σ
50 / 200 cross
Death
130.52 vs 149.01
Trend bias
Below 200
-14.14%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
0.73
Less volatile than market
Correlation to SPY
0.31
Loosely linked
Realised vol 30D
21.4%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-39.0%
Peak to trough
Max drawdown 5Y
-41.0%
Peak to trough
ATR 14
3.97
3.10% of price
Beta (reported)
1.01
5Y monthly, from filing
Short interest
Shares short
2.59M
Prior 2.32M
Change vs prior
+11.6%
Shorts adding
% of float
4.78%
Normal
% of shares out
3.70%
Against total outstanding
Days to cover
3.6
Liquid
Float
54.03M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Aug 3, 26 | BMO Capital | MAINTAINED | Outperform | Outperform |
| Jul 30, 26 | UBS | MAINTAINED | Neutral | Neutral |
| Jul 30, 26 | Goldman Sachs | MAINTAINED | Buy | Buy |
| Jul 30, 26 | Morgan Stanley | MAINTAINED | Overweight | Overweight |
| Jul 30, 26 | Keefe, Bruyette & Woods | MAINTAINED | Outperform | Outperform |
| Jul 10, 26 | Keefe, Bruyette & Woods | MAINTAINED | Outperform | Outperform |
| Jul 9, 26 | Morgan Stanley | MAINTAINED | Overweight | Overweight |
| Jul 8, 26 | UBS | MAINTAINED | Neutral | Neutral |
| May 7, 26 | Keefe, Bruyette & Woods | MAINTAINED | Outperform | Outperform |
| Apr 9, 26 | Morgan Stanley | MAINTAINED | Overweight | Overweight |
| Apr 1, 26 | Goldman Sachs | MAINTAINED | Buy | Buy |
| Mar 12, 26 | UBS | MAINTAINED | Neutral | Neutral |
Dividends & splits
Forward rate$2.80 / yr
Forward yield2.21%
5-year avg yield1.65%
Payout ratio41.95%
Ex-dividend dateSep 1, 2026
Next pay dateSep 15, 2026
Last split—
Split date—
SEC filings
Corporate Changes & Voting Matters
8-K · 2026-10-05
Corporate Changes & Voting Matters
8-K · 2026-09-22
Proxy Statements
DEFA14A · 2026-09-08
Offering Registrations
S-3ASR · 2026-08-10
Periodic Financial Reports
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Headlines
Houlihan Lokey Strengthens Financial Services Group With Senior Hire
Business Wire · 2d ago
Software business Calero obtains private credit loan to support refinancing
Pitchbook · 6d ago
Houlihan Lokey Bolsters FinTech Group with Digital Assets Hire
Business Wire · 9d ago
3 Investment Bank Stocks Tied To The UK M And A Recovery
Simply Wall St. · 10d ago
Piper Sandler, Houlihan Lokey, and Blackstone Shares Are Falling, What You Need To Know
StockStory · 12d ago
Houlihan Lokey Appoints Prabha Sipi Bhandari as Chief Legal Officer
Business Wire · 15d ago
Houlihan Lokey Expands Footprint in South Florida
Business Wire · 20d ago
Why Is Houlihan Lokey (HLI) Expanding Into GP Led Secondaries Now?
Simply Wall St. · 21d ago
PRIVATE STRATEGY · BY QUALIFICATION
The same data. A different seat.
The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.