Houlihan Lokey, Inc.
HLI
Jodie read · what matters now
Revenue fell 15.5% to $511.0M and operating cash flow swung to a $336.0M outflow, even as the firm continued dividends, buybacks and tax settlements.
The story is only the start. Jodie keeps watching the filing evidence, the companies connected to HLI, and whether its market group begins moving.
Earlier comparable assessment · baseline
The latest filing presents a mixed picture
10-K filed 2026-05-22 against the comparable filing from 2025-05-15.
A newer Struct brief is shown above. This older assessment remains here for comparison, not as the current read.
What improved
- Revenue increased 9.5% versus the comparable filing period.
What weakened
- Operating margin fell 0.9 percentage points.
Filing receipts
“ting activities resulted in a net cash inflow of $704.1 million, primarily due to net income reflecting the strong business performance.”
“The increase in other (income) expense, net was primarily due to higher interest income.”
“Investing activities resulted in a net inflow of $2.2 million, primarily attributable to sales or maturities of investment securities, largely offset by purchases of investment securities and capital expenditures.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Who this business touches
The relationships behind HLI
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depended on by
Filing peers
Companies whose filings use similar operating language.
You can see the shape of the network here. Pro opens 1 more links, the original filing receipts, and alerts when connected names begin moving. See Pro →
What is moving around it
Live connections
HLI is currently a Early Follower in the organic co-movement group Real Estate Services. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.
Theme membership history
No durable theme membership has been observed for this name yet.