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Houlihan Lokey (HLI)
NYSE:HLI
US Market
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Houlihan Lokey (HLI) Ratios

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Houlihan Lokey Ratios

HLI's free cash flow for Q2 2026 was $0.34. For the 2026 fiscal year, HLI's free cash flow was decreased by $ and operating cash flow was $0.26. See a summary of the company’s cash flow.
Ratios
TTM
Dec 25Dec 24Dec 23Dec 22
Liquidity Ratios
Current Ratio
1.46 1.32 1.12 0.93 1.32
Quick Ratio
1.46 1.32 -0.03 0.93 -0.02
Cash Ratio
0.99 0.83 0.78 0.71 1.04
Solvency Ratio
0.31 0.23 1.28 1.45 1.37
Operating Cash Flow Ratio
0.88 0.38 0.15 0.63 0.71
Short-Term Operating Cash Flow Coverage
0.00 0.00 0.00 0.00 0.00
Net Current Asset Value
$ -187.10M$ -180.09M$ -310.94M$ -360.25M$ 31.24M
Leverage Ratios
Debt-to-Assets Ratio
0.11 0.13 0.13 0.07 0.07
Debt-to-Equity Ratio
0.19 0.23 0.23 0.14 0.13
Debt-to-Capital Ratio
0.16 0.18 0.19 0.12 0.11
Long-Term Debt-to-Capital Ratio
0.00 0.00 0.00 <0.01 <0.01
Financial Leverage Ratio
1.69 1.73 1.82 2.00 1.75
Debt Service Coverage Ratio
0.00 0.00 130.31 55.51 639.28
Interest Coverage Ratio
0.00 0.00 124.81 64.52 746.17
Debt to Market Cap
0.00 0.00 0.00 <0.01 <0.01
Interest Debt Per Share
6.46 6.46 5.96 3.19 2.67
Net Debt to EBITDA
-0.75 -0.72 -0.80 -0.92 -1.51
Profitability Margins
Gross Profit Margin
37.22%38.50%36.56%37.94%36.33%
EBIT Margin
23.62%20.85%18.89%27.00%26.76%
EBITDA Margin
25.62%22.34%23.57%30.53%29.25%
Operating Profit Margin
20.13%18.95%18.89%27.00%26.76%
Pretax Profit Margin
21.57%20.40%18.74%26.61%26.83%
Net Profit Margin
16.62%14.64%14.05%19.28%20.50%
Continuous Operations Profit Margin
16.62%14.64%14.05%19.31%20.50%
Net Income Per EBT
77.06%71.77%74.99%72.48%76.43%
EBT Per EBIT
107.17%107.63%99.20%98.54%100.26%
Return on Assets (ROA)
11.24%8.84%8.56%15.16%12.89%
Return on Equity (ROE)
19.66%15.26%15.61%30.32%22.61%
Return on Capital Employed (ROCE)
18.05%15.79%16.68%35.69%25.29%
Return on Invested Capital (ROIC)
13.96%11.34%13.25%25.91%19.33%
Return on Tangible Assets
18.54%15.19%15.15%27.90%20.05%
Earnings Yield
3.45%3.40%4.59%7.67%7.15%
Efficiency Ratios
Receivables Turnover
10.22 4.51 5.75 9.12 6.73
Payables Turnover
0.00 10.31 10.12 11.16 14.39
Inventory Turnover
0.00 0.00 1.08 0.00 0.89
Fixed Asset Turnover
2.76 3.98 4.29 10.13 7.69
Asset Turnover
0.68 0.60 0.61 0.79 0.63
Working Capital Turnover Ratio
5.88 9.66 159.97 25.99 11.45
Cash Conversion Cycle
35.73 45.54 364.11 7.30 438.79
Days of Sales Outstanding
35.73 80.93 63.49 40.00 54.20
Days of Inventory Outstanding
0.00 0.00 336.68 0.00 409.94
Days of Payables Outstanding
0.00 35.39 36.07 32.70 25.36
Operating Cycle
35.73 80.93 400.18 40.00 464.14
Cash Flow Ratios
Operating Cash Flow Per Share
12.21 5.11 2.15 11.34 8.81
Free Cash Flow Per Share
11.70 4.07 1.35 11.20 8.60
CapEx Per Share
0.50 1.04 0.80 0.13 0.22
Free Cash Flow to Operating Cash Flow
0.96 0.80 0.63 0.99 0.98
Dividend Paid and CapEx Coverage Ratio
4.02 1.53 0.71 5.97 5.46
Capital Expenditure Coverage Ratio
24.21 4.92 2.69 84.86 40.98
Operating Cash Flow Coverage Ratio
1.89 0.79 0.36 3.73 3.31
Operating Cash Flow to Sales Ratio
0.32 0.17 0.08 0.32 0.38
Free Cash Flow Yield
6.06%3.17%1.54%12.76%12.93%
Valuation Ratios
Price-to-Earnings (P/E) Ratio
28.93 29.42 21.80 13.03 13.99
Price-to-Sales (P/S) Ratio
5.03 4.31 3.06 2.51 2.87
Price-to-Book (P/B) Ratio
5.49 4.49 3.40 3.95 3.16
Price-to-Free Cash Flow (P/FCF) Ratio
16.48 31.50 64.80 7.84 7.73
Price-to-Operating Cash Flow Ratio
15.10 25.10 40.68 7.74 7.55
Price-to-Earnings Growth (PEG) Ratio
7.15 3.37 -0.54 0.31 0.23
Price-to-Fair Value
5.49 4.49 3.40 3.95 3.16
Enterprise Value Multiple
18.90 18.57 12.20 7.31 8.30
Enterprise Value
12.44B 7.94B 5.20B 5.07B 3.70B
EV to EBITDA
18.92 18.57 12.20 7.31 8.30
EV to Sales
4.85 4.15 2.88 2.23 2.43
EV to Free Cash Flow
15.87 30.34 60.83 6.96 6.55
EV to Operating Cash Flow
15.22 24.17 38.19 6.88 6.39
Tangible Book Value Per Share
11.26 7.96 5.32 1.94 7.86
Shareholders’ Equity Per Share
33.55 28.55 25.70 22.22 21.03
Tax and Other Ratios
Effective Tax Rate
0.23 0.28 0.21 0.27 0.24
Revenue Per Share
38.31 29.76 28.56 34.94 23.19
Net Income Per Share
6.37 4.36 4.01 6.74 4.75
Tax Burden
0.77 0.72 0.75 0.72 0.76
Interest Burden
0.91 0.98 0.99 0.99 1.00
Research & Development to Revenue
0.00 0.00 <0.01 <0.01 <0.01
SG&A to Revenue
0.06 0.10 0.08 0.07 0.06
Stock-Based Compensation to Revenue
0.07 0.09 0.09 0.04 0.04
Income Quality
1.92 1.17 0.54 1.68 1.85
Currency in USD
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