<span item_type="fundamental" item_id="799f85d464e5656f9e43f48d398a53bb" counter_id="ST/US/HLI" env="prod"></span><span item_type="announcement" item_id="645943593710588673" env="prod"></span><p>Revenue: As of FY2026, the actual value is USD 2.618 B.</p><p>EPS: As of FY2026, the actual value is USD 6.22, missing the estimate of USD 6.7844.</p><p>EBIT: As of FY2026, the actual value is USD 527.02 M.</p><p></p><h4>Fiscal Year 2026 Financial Highlights</h4><ul><li>Houlihan Lokey, Inc. reported total revenues of $2.62 billion for fiscal year 2026, an increase from $2.39 billion in the prior fiscal year <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li><li>Net income attributable to Houlihan Lokey, Inc. was $426 million, up from $400 million <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li><li>Adjusted net income attributable to Houlihan Lokey, Inc. was $518 million, an increase from $434 million <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li></ul><h4>Fourth Quarter Fiscal 2026 Financial Highlights</h4><ul><li>Total revenues for the fourth quarter of fiscal year 2026 were $636 million, a decrease from $666 million in the prior year’s fourth quarter <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li><li>Net income attributable to Houlihan Lokey, Inc. was $100 million, down from $122 million <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li><li>Adjusted net income attributable to Houlihan Lokey, Inc. was $111 million, a decrease from $136 million <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li></ul><h4>Segment Revenue (Fiscal Year 2026 vs. Fiscal Year 2025)</h4><ul><li>Corporate Finance (CF) revenues were $1,744,634 thousand, an increase of 14% from $1,526,756 thousand <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li><li>Financial Restructuring (FR) revenues were $528,655 thousand, a decrease of -3% from $544,478 thousand <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li><li>Financial and Valuation Advisory (FVA) revenues were $344,227 thousand, an increase of 8% from $318,182 thousand <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li></ul><h4>Segment Revenue (Fourth Quarter Fiscal 2026 vs. Fourth Quarter Fiscal 2025)</h4><ul><li>Corporate Finance (CF) revenues were $433,766 thousand, an increase of 5% from $412,709 thousand <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li><li>Financial Restructuring (FR) revenues were $110,383 thousand, a decrease of -33% from $164,546 thousand <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li><li>Financial and Valuation Advisory (FVA) revenues were $91,494 thousand, an increase of 3% from $89,167 thousand <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li></ul><h4>Operating Expenses (GAAP - Fiscal Year 2026 vs. Fiscal Year 2025)</h4><ul><li>Compensation expenses were $1,683,391 thousand, up from $1,524,268 thousand, with a compensation ratio of 64.3% compared to 63.8% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li><li>Non-compensation expenses were $407,106 thousand, up from $362,581 thousand, with a non-compensation ratio of 15.6% compared to 15.2% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li><li>Operating income was $527,019 thousand, compared to $502,567 thousand <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li><li>Other (income) expense, net was - $35,246 thousand, compared to - $28,768 thousand <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li><li>Provision for income taxes was $138,091 thousand, compared to $131,624 thousand, with an effective tax rate of 24.6% compared to 24.8% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li></ul><h4>Operating Expenses (GAAP - Fourth Quarter Fiscal 2026 vs. Fourth Quarter Fiscal 2025)</h4><ul><li>Compensation expenses were $408,781 thousand, down from $430,544 thousand, with a compensation ratio of 64.3% compared to 64.6% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li><li>Non-compensation expenses were $101,714 thousand, up from $94,822 thousand, with a non-compensation ratio of 16.0% compared to 14.2% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li><li>Operating income was $125,148 thousand, compared to $141,056 thousand <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li><li>Other (income) expense, net was - $9,366 thousand, compared to - $9,199 thousand <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li><li>Provision for income taxes was $36,202 thousand, compared to $28,335 thousand, with an effective tax rate of 26.9% compared to 18.9% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li></ul><h4>Cash and Liquidity</h4><ul><li>Cash and cash equivalents were $1,189,454 thousand as of March 31, 2026, compared to $971,007 thousand as of March 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li><li>Unrestricted cash and cash equivalents and investment securities totaled $1.36 billion as of March 31, 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li></ul><h4>Dividends and Share Repurchases</h4><ul><li>The Board of Directors declared a quarterly cash dividend of $0.70 per share, representing a 16.7% increase <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li><li>The company repurchased 301 thousand shares as part of its share repurchase program during the fourth fiscal quarter <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li></ul><h4>Operational Metrics by Segment</h4><ul><li>For Corporate Finance (CF), closed transactions increased to 171 in Q4 2026 from 147 in Q4 2025, and to 644 in FY 2026 from 564 in FY 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li><li>For Financial Restructuring (FR), closed transactions decreased to 30 in Q4 2026 from 38 in Q4 2025, and to 143 in FY 2026 from 145 in FY 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li><li>For Financial and Valuation Advisory (FVA), Fee Events increased to 1,248 in Q4 2026 from 1,224 in Q4 2025, and to 2,519 in FY 2026 from 2,441 in FY 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li></ul><h4>Outlook</h4><ul><li>Fiscal year 2026 was a record year for Houlihan Lokey, Inc., demonstrating the resilience and diversification of its business model despite a challenging external environment <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>. The company remains optimistic about the prospects across all three business lines, even with market uncertainty entering fiscal year 2027 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1302215/000130221526000014/q4fy26-ex991.htm"></span>.</li></ul>

Houlihan Lokey | 8-K: FY2026 Revenue: USD 2.618 B