HLI Houlihan Lokey margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 91

Gross margin

100%

Operating margin

20.3%

EBITDA margin

24.7%

Net margin

15.8%

Using the latest TTM figures, Houlihan Lokey shows a gross margin of 100%, an operating margin of 20.3%, an EBITDA margin of 24.7%, and a net margin of 15.8%. Operating margin drove the available margin improvements with a 0.1 percentage-point increase, while net margin declined by 0.8 percentage points.

HLI margin history

Gross, operating, EBITDA and net margin trends

Looking back over the last 3 years, Houlihan Lokey recorded average margins of 100% gross, 20.21% operating, 24.53% EBITDA, and 15.89% net. Houlihan Lokey's current metrics show that operating and EBITDA margins are above their three-year averages and net margin is below its three-year average.

HLI margin expansion

Year-over-year margin changes in percentage points

Operating margin expanded by 0.1 percentage points, but EBITDA margin contracted by 0.3 percentage points and net margin by 0.8 percentage points.

Gross margin expansion

0pp

Operating margin expansion

0.1pp

EBITDA margin expansion

-0.3pp

Net margin expansion

-0.8pp

HLI Gross margin

Throughout the last 3 years, Houlihan Lokey had an average gross margin of 100%. The current gross margin stands at 100%, in line with its three-year average. Looking back over the last 3 years, Houlihan Lokey's gross margin reached 100% at its highest point in Sep 2026 and 100% at its lowest in Dec 2023.

HLI Operating margin

The average operating margin for Houlihan Lokey was 20.21% during the last 3 years. At present, the current operating margin for Houlihan Lokey is 20.3%, 0.1 percentage points above its three-year average. The operating margin for Houlihan Lokey moved between 19.1% in Dec 2023 and 21.2% in Dec 2024.

HLI EBITDA margin

Across the last 3 years, Houlihan Lokey recorded an average EBITDA margin of 24.53%. The current EBITDA margin stands at 24.7%, 0.2 percentage points above its three-year average. The highest EBITDA margin for Houlihan Lokey was 25.5% in Mar 2025, while the lowest was 22.5% in Dec 2023.

HLI Net margin

Across the last 3 years, Houlihan Lokey had an average net margin of 15.89%. Against its three-year average, Houlihan Lokey's net margin is currently 15.8%, 0.1 percentage points below its three-year average. Looking back over the last 3 years, Houlihan Lokey's net margin reached 16.9% at its highest point in Dec 2025 and 14.1% at its lowest in Dec 2023.

HLI margin group comparison

Margins compared with peer-group, industry and sector averages

Houlihan Lokey's gross margin of 100% is higher than the Financial Services sector and the industry average. In comparison with the Financial Services sector average of 83.4%, Houlihan Lokey's gross margin is 20% higher.

HLI margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Houlihan Lokey's gross margin?

For the period ending Sep 30, 2026, HLI recorded a gross margin of 100%.

What is Houlihan Lokey's operating margin?

For the period ending Sep 30, 2026, HLI recorded an operating margin of 20.3%.

What is Houlihan Lokey's EBITDA margin?

For the period ending Sep 30, 2026, HLI recorded an EBITDA margin of 24.7%.

What is Houlihan Lokey's net margin?

As of Sep 30, 2026, HLI has a net margin of 15.8%.

What are the average margins of HLI?

Houlihan Lokey's average margins over the last 3 years were 100.0% gross, 20.2% operating, 24.5% EBITDA, and 15.9% net.

What are the highest historical margins of HLI?

Looking back across 5 years, HLI reached 100% gross in Sep 2026, 28.5% operating in Dec 2021, 31.1% EBITDA in Dec 2021, and 20.5% net in Dec 2021.

What are the lowest historical margins of HLI?

Over the last 5 years, Houlihan Lokey's lowest margins were 100% gross in Dec 2021, 18.7% operating in Jun 2023, 22% EBITDA in Jun 2023, and 13.6% net in Jun 2023.