Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $872M | $963M | $1.08B | $1.16B | $1.53B | $2.27B | $1.81B | $1.91B | $2.39B | $2.62B |
| Revenue growth | — | 10.5% | 12.6% | 6.9% | 31.6% | 48.8% | -20.3% | 5.8% | 24.8% | 9.5% |
| Gross profit | $241M | $278M | $306M | $323M | $521M | $795M | $557M | $571M | $772M | — |
| Gross margin | 27.7% | 28.8% | 28.2% | 27.8% | 34.2% | 35.0% | 30.8% | 29.8% | 32.3% | — |
| Operating income | $182M | $214M | $219M | $230M | $408M | $613M | $342M | $373M | $503M | $527M |
| Operating margin | 20.9% | 22.3% | 20.2% | 19.8% | 26.8% | 27.0% | 18.9% | 19.5% | 21.0% | 20.1% |
| Net income | $108M | $172M | $159M | $184M | $313M | $438M | $254M | $280M | $400M | $426M |
| Net margin | 12.4% | 17.9% | 14.7% | 15.9% | 20.5% | 19.3% | 14.0% | 14.6% | 16.7% | 16.3% |
| EPS (diluted) | $1.63 | $2.60 | $2.42 | $2.80 | $4.55 | $6.41 | $3.76 | $4.11 | $5.82 | $6.22 |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $252M | $251M | $224M | $288M | $580M | $737M | $136M | $328M | $849M | $704M |
| Capital expenditures | $14.4M | $7.72M | $6.73M | $20.7M | $14.1M | $8.68M | $50.7M | $66.7M | $39.7M | $22.3M |
| Free cash flow | $238M | $243M | $218M | $267M | $566M | $728M | $85.5M | $262M | $809M | $682M |
| Share buybacks | $0.00 | $18.1M | $69.6M | $29.6M | $102M | $305M | $48.7M | $25.0M | $52.5M | $175M |
| Dividends paid | $55.3M | $52.1M | $66.9M | $80.7M | $92.0M | $115M | $140M | $148M | $165M | $174M |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $300M | $207M | $286M | $380M | $847M | $834M | $714M | $721M | $971M | $1.19B |
| Total assets | $1.39B | $1.42B | $1.43B | $1.68B | $2.43B | $2.89B | $2.97B | $3.17B | $3.82B | $4.31B |
| Total liabilities | $655M | $566M | $535M | $693M | $1.04B | $1.44B | $1.36B | $1.33B | $1.64B | $1.86B |
| Long-term debt | $32.6M | $11.9M | $31.2M | $36.7M | $55.9M | — | — | — | — | — |
| Shareholders' equity | $727M | $853M | $891M | $984M | $1.38B | $1.44B | $1.61B | $1.84B | $2.17B | $2.34B |
| Retained earnings | $87.4M | $207M | $276M | $377M | $600M | $922M | $1.03B | $1.16B | $1.39B | $1.65B |
| Shares (wtd avg diluted) | 66.6M | 66.3M | 65.8M | 65.7M | 68.7M | 68.3M | 67.6M | 68.2M | 68.7M | 68.4M |
Every figure is extracted from HOULIHAN LOKEY, INC.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.