Want to see HLNE full AI Analyst Report?
Top Page
Hamilton Lane
(NASDAQ:HLNE)
Select Model
Select Model
Rating:80Outperform
Price Target:
$117.00
â–²(40.69% Upside)
Action:Reiterated
Date:08/05/26
HLNE scores well primarily on strong financial quality (high margins, strong ROE, solid cash conversion) and a conservative TTM balance sheet. Earnings call commentary supports continued operational momentum and shareholder returns, though rising expenses and flow/carry volatility are notable risks. Technicals temper the score due to overbought signals, while valuation is reasonable with a supportive dividend yield.
Positive Factors
High Profitability & Margins
Consistently very high margins indicate a scalable, fee-focused business model with strong pricing power and operating leverage. Durable margin structure supports free cash flow generation and shareholder returns even if top-line growth moderates, underpinning long-term earnings resilience.
Negative Factors
Sharp Expense Increase
A sustained 50% YoY expense step-up, driven by compensation and headcount, can erode operating leverage if permanent. If hiring and higher performance pay persist, FRE margin and FCF growth could be pressured, making long-term return targets and payout sustainability harder to achieve.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability & Margins
Consistently very high margins indicate a scalable, fee-focused business model with strong pricing power and operating leverage. Durable margin structure supports free cash flow generation and shareholder returns even if top-line growth moderates, underpinning long-term earnings resilience.
Read all positive factors
Hamilton Lane Key Performance Indicators (KPIs)
Any
Management & Advisory Fees Breakdown
Details how much revenue comes from recurring management and advisory fees versus other sources, revealing the predictability and margin profile of Hamilton Lane’s business. A higher share of stable management fees points to reliable cash flow; shifts toward lower-fee advisory or fee compression warn of pressure on profitability.
Details how much revenue comes from recurring management and advisory fees versus other sources, revealing the predictability and margin profile of Hamilton Lane’s business. A higher share of stable management fees points to reliable cash flow; shifts toward lower-fee advisory or fee compression warn of pressure on profitability.
Data provided by:
The Fly
The FlyHamilton Lane (HLNE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.56B
Dividend Yield2.2%
Average Volume (3M)859.47K
Price to Earnings (P/E)15.5
Beta (1Y)1.24
Revenue Growth24.01%
EPS Growth25.97%
CountryUS
Employees785
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)6.63
Shares Outstanding43,349,167
10 Day Avg. Volume630,645
30 Day Avg. Volume859,474
Financial Highlights & Ratios
PEG Ratio1.67
Price to Book (P/B)4.03
Price to Sales (P/S)4.86
P/FCF Ratio8.11
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$131.71Price Target Upside58.39% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)6.34
Revenue Forecast (FY)$884.81M
Hamilton Lane Business Overview & Revenue Model
Company Description
Hamilton Lane Incorporated operates as an investment management firm, specializing in both direct investments and fund-of-funds strategies. The firm offers a comprehensive range of services, including: Tailored Separate Accounts: Structured as sin...
How the Company Makes Money
Hamilton Lane primarily makes money by earning fees for managing and advising on private markets investments. Key revenue streams include: (1) Management fees from assets under management (AUM): recurring fees charged for managing client capital i...
Hamilton Lane Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q1-2027)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The call conveyed broad business momentum: strong AUM/AUA growth, materially higher fee-related revenue and FRE, successful fundraises and first closes, growing evergreen traction, rising unrealized carry, and shareholder-friendly actions (dividend and buybacks). Offsetting these positives were significant expense increases (50% YoY), some product-level redemptions and temporary flow slowdowns tied to negative headlines, near-term distribution ramp timing for newer U.S. products, and balance-sheet noise from seed investments. On balance, the positive operational and financial progress and successful fundraises outweigh the near-term headwinds and volatility.Positive Updates
Total Asset Footprint Surpasses $1 Trillion
Total asset footprint exceeded $1 trillion at quarter end, an 8% increase year-over-year.
Negative Updates
Significant Expense Increase
Total expenses rose $50 million or 50% year-over-year. Total compensation and benefits increased $38 million or 55% due primarily to higher operating performance pay and headcount; G&A increased ~$12 million, driven by revenue-related and one-time items.
Read all updates
Q1-2027 Updates
Positive
Negative
Total Asset Footprint Surpasses $1 Trillion
Total asset footprint exceeded $1 trillion at quarter end, an 8% increase year-over-year.
Read all positive updates
Company Guidance
Management reiterated strong near‑term expectations and gave metric‑heavy guidance: total asset footprint >$1.0T (+8% YoY) with AUM $146B (+4% YoY) and AUA $914B (+8% YoY); Q1 fees were $161M (+21% YoY), total fee‑related revenue $236M (+44% YoY), fee‑related earnings $124M (+49% YoY) and FRE margin YTD 53% (vs. 51% LY); GAAP EPS $1.93 (GAAP net income $80M) and non‑GAAP EPS $1.94 (adjusted net income $105M); fee‑earning AUM $83.7B (+$9.3B/+12% YoY, +$2.0B/+3% QoQ) with a blended fee rate of 69 bps and specialized fund FE AUM $42.6B (+$8.5B/+25% YoY); quarter activity included $2.4B gross contributions, ~ $640M net Evergreen inflows (Evergreen AUM >$19B; positive net flow in 10 of 12 funds), customized SA FE AUM $41.1B (+$818M/+2% YoY), unrealized carry ≈$1.5B (+11% YoY), incentive fees $114M, and platform fundraising wins (direct equity $3.8B total; secondary initial close ~$1.3B; venture first close >$370M); capital actions and expectations: $0.60 quarterly dividend (on track to $2.40 FY27, +11% YoY), ~559k shares repurchased this quarter (~$50M at $89.51; $70M total to date), expected cash/GAAP gains from Russell (~$50M proceeds, ~$18M gain on close), Securitize position to be marked next quarter (~1.5M shares), and Canoe proceeds ~$30M (>$15M gain); they plan to market five strategies through FY27–FY28 and expect continued margin lift from FRPR, mix shift, top‑line growth and disciplined expense management.Hamilton Lane Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
88
Very Positive
Cash Flow
80
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 858.37M | 758.99M | 712.96M | 553.84M | 528.75M | 367.92M |
| Gross Profit | 680.72M | 530.36M | 504.74M | 387.45M | 379.44M | 259.52M |
| EBITDA | 541.91M | 487.75M | 384.89M | 301.02M | 258.67M | 323.81M |
| Net Income | 275.89M | 249.18M | 217.42M | 140.86M | 109.12M | 145.99M |
Balance Sheet | ||||||
| Total Assets | 2.54B | 2.30B | 1.69B | 1.27B | 1.14B | 1.29B |
| Cash, Cash Equivalents and Short-Term Investments | 337.02M | 363.90M | 277.27M | 114.63M | 111.75M | 72.17M |
| Total Debt | 364.79M | 356.48M | 368.32M | 275.19M | 292.35M | 253.57M |
| Total Liabilities | 846.63M | 838.36M | 766.46M | 595.24M | 566.35M | 557.46M |
| Stockholders Equity | 939.28M | 915.23M | 717.28M | 525.15M | 415.44M | 346.88M |
Cash Flow | ||||||
| Free Cash Flow | 392.70M | 454.53M | 288.66M | 109.78M | 221.84M | 161.00M |
| Operating Cash Flow | 399.00M | 460.38M | 300.82M | 120.85M | 226.59M | 169.52M |
| Investing Cash Flow | -351.90M | -530.28M | -117.58M | -122.18M | 177.91M | -70.49M |
| Financing Cash Flow | -21.59M | 155.78M | -19.62M | 4.40M | -364.15M | -113.22M |
Hamilton Lane Technical Analysis
Positive
83.16
Price Trends
86.43
Positive
89.23
Positive
106.77
Negative
Market Momentum
5.14
Negative
60.99
Neutral
40.99
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HLNE, the sentiment is Positive. The current price of 83.16 is below the 20-day moving average (MA) of 95.39, below the 50-day MA of 86.43, and below the 200-day MA of 106.77, indicating a neutral trend. The MACD of 5.14 indicates Negative momentum. The RSI at 60.99 is Neutral, neither overbought nor oversold. The STOCH value of 40.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HLNE.
Hamilton Lane Risk Analysis
Hamilton Lane disclosed 58 risk factors in its most recent earnings report. Hamilton Lane reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Hamilton Lane Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
85 Outperform | $12.66B | 18.50 | 28.86% | 1.05% | 11.21% | 6.93% | |
80 Outperform | $5.56B | 15.46 | 31.02% | 2.67% | 24.01% | 25.97% | |
80 Outperform | $9.60B | 11.92 | 26.95% | 0.01% | 11.74% | 108.91% | |
76 Outperform | $5.44B | 11.72 | 14.81% | 8.04% | 3.49% | -18.26% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
57 Neutral | $3.32B | -8.90 | -6.65% | 21.64% | -35.39% | -272.02% | |
53 Neutral | $5.83B | -6.35 | 156.73% | 3.41% | 51.09% | -150.23% |
* Financial Sector Average
HLNE
Hamilton Lane
101.10
-46.28
-31.40%
AMG
Affiliated Managers
363.57
146.75
67.68%
MAIN
Main Street Capital
57.81
-2.86
-4.72%
SEIC
SEI Investments Company
106.92
19.57
22.41%
FSK
FS KKR Capital
11.91
-2.99
-20.05%
STEP
StepStone Group
48.48
-8.14
-14.38%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.