Houlihan Lokey Cash Flow Statement
NYSE: HLIFinanceInvestment ManagersUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Houlihan Lokey free cash flow
In fiscal 2026, Houlihan Lokey generated $704.1 million of operating cash flow and spent $22.3 million on capital expenditures. That left free cash flow of $681.8 million, a free-cash-flow margin of 26.0% of revenue. Free cash flow was down 15.7% from the prior year's $808.9 million.
Houlihan Lokey returned $349.5 million to shareholders: $174.0 million in dividends and $175.4 million in share repurchases, equal to 51% of free cash flow. Free cash flow covered dividend payments 3.9 times.
Summary generated from market data by MetaCap's automated system. Methodology
Houlihan Lokey cash flow statement (annual)
| Fiscal year (USD) | FY 20262026-03-31 | FY 20252025-03-31 | FY 20242024-03-31 | FY 20232023-03-31 | FY 20222022-03-31 | FY 20212021-03-31 | FY 20202020-03-31 | FY 20192019-03-31 | FY 20182018-03-31 | FY 20172017-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 424.17M | 399.71M | 280.30M | 254.22M | 438.32M | 312.77M | 183.79M | 159.11M | 172.28M | 108.34M |
| Net Income growth (YoY) | +6.12% | +42.60% | +10.26% | -42.00% | +40.14% | +70.18% | +15.52% | -7.65% | +59.02% | +55.29% |
| Depreciation & Amortization | 42.63M | 41.27M | 28.54M | 58.22M | 48.54M | 15.23M | 17.29M | 14.47M | 7.91M | 8.85M |
| Stock-Based Compensation | 201.30M | 168.44M | 166.59M | 156.94M | 91.88M | 62.42M | 64.34M | 56.56M | 47.11M | 39.36M |
| Change in Working Capital | -15.14M | -47.95M | -76.62M | -95.71M | 19.07M | -42.92M | -27.64M | 17.39M | -19.54M | 9.75M |
| Operating Cash Flow | 704.13M | 848.61M | 328.46M | 136.27M | 736.60M | 579.84M | 287.67M | 224.27M | 250.65M | 252.02M |
| Capital Expenditures | -22.31M | -39.70M | -66.73M | -50.73M | -8.68M | -14.15M | -20.72M | -6.73M | -7.72M | -14.42M |
| Investing Cash Flow | 2.18M | -265.06M | -70.41M | -3.00M | -273.91M | -99.75M | -33.14M | 6.46M | -218.58M | -1.65M |
| Dividends Paid | -174.04M | -165.22M | -148.45M | -140.38M | -114.81M | -92.01M | -80.66M | -66.93M | -52.08M | -55.29M |
| Share Repurchases | -175.43M | -52.51M | -24.95M | -48.66M | -304.79M | -102.22M | -29.64M | -69.56M | -18.07M | 0 |
| Financing Cash Flow | -492.94M | -329.07M | -250.59M | -240.46M | -459.06M | -26.82M | -152.14M | -236.14M | -225.31M | 80.17M |
| Net Change in Cash | 218.29M | 253.72M | 7.04M | -119.26M | -13.15M | 466.48M | 94.63M | -14.11M | -192.46M | 326.52M |
| Free Cash Flow | 681.82M | 808.91M | 261.73M | 85.54M | 727.92M | 565.69M | 266.95M | 217.55M | 242.93M | 237.60M |
This table shows 10 annual periods of Houlihan Lokey's cash flow statement, from FY 2026 back to FY 2017, across 13 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow HLI's reporting calendar. What is a cash flow statement?