10-K - HOULIHAN LOKEY, INC. (0001302215) (Filer)

Thu, May 15, 8:47 PM (28 days ago)

**Houlihan Lokey, Inc. (HLI) - Financial Summary** **Financial Performance:** - **Revenue:** $2.39 billion for FY 2025, up 25% from $1.91 billion in FY 2024. - **Net Income:** $399.7 million for FY 2025, a 43% increase from $280.3 million in FY 2024. - **Operating Expenses:** $1.89 billion for FY 2025, up 22% from $1.55 billion in FY 2024. - **Earnings per Share (EPS):** $6.08 basic and $5.82 diluted for FY 2025. **Segment Performance:** - **Corporate Finance (CF):** Revenue increased 38% to $1.53 billion, segment profit up 57% to $474 million. - **Financial Restructuring (FR):** Revenue increased 4% to $544 million, segment profit up 8% to $209 million. - **Financial and Valuation Advisory (FVA):** Revenue increased 11% to $318 million, segment profit up 19% to $89 million. **Operational Highlights:** - **Employee Compensation:** $1.52 billion for FY 2025, up 26% from FY 2024. - **Non-Compensation Expenses:** $363.6 million for FY 2025, up 8% from FY 2024. - **Cash and Cash Equivalents:** $971 million as of March 31, 2025. **Strategic Overview:** - **Growth Initiatives:** Focus on expanding into new industry sectors, geographies, and products. - **Market Position:** Leading global independent investment bank with expertise in M&A, capital markets, financial restructurings, and valuation advisory. - **Risk Factors:** Includes market volatility, competition, regulatory risks, and dependence on key personnel. **Future Outlook:** - **Economic Conditions:** Stable environment for M&A and capital markets activities, but uncertainty due to elevated interest rates, international conflict, and trade policies. - **Restructuring Outlook:** Optimistic due to elevated interest rates, company leverage, geopolitical events, and global trade policy disruption. **Financial Condition:** - **Liquidity:** Highly dependent on cash receipts from clients, which are tied to the successful completion of transactions. - **Capital Resources:** Maintains moderate levels of cash on hand, with excess cash invested in short-term investments. **Market Position Changes:** - **Competitive Landscape:** Faces strong competition from other financial advisory firms, with varying levels of resources and market reach. - **Client Base:** Serves a diverse set of clients, including corporations, financial sponsors, and government agencies worldwide. **Ticker:** HLI **Exchange:** New York Stock Exchange