公司概述
Houlihan Lokey, Inc. operates globally as an investment banking firm specializing in merger and acquisition advisory, capital markets, financial restructuring, liability management, and valuation services. The company functions within the Financial Services sector, specifically targeting the Capital Markets industry, which positions it to serve complex corporate needs across diverse economic environments. Its substantial scale is evidenced by a market capitalization of $10.48B, an annual revenue of $2.65B, and a workforce of 2,702 employees. These valuation and revenue figures indicate that Houlihan Lokey holds a significant position in the capital markets landscape, possessing the resources and market presence to execute large-scale transactions and provide comprehensive advisory solutions worldwide.
财务健康
The company reported a trailing twelve-month revenue of $2.65B and a net income of $447.78M, while EBITDA data is not available in the provided metrics. The substantial gap between the $2.65B revenue and the $447.78M net income reveals a cost structure where operating expenses, including salaries, rent, and overhead, consume approximately 83.1% of total revenue before reaching the bottom line. While free cash flow figures are not disclosed, the company maintains a robust cash position of $1.06B, which suggests strong financial flexibility for meeting obligations or seizing opportunities without immediate external financing. The margin profile shows a Gross Margin of 94.6%, an Operating Margin of 24.9%, and a Profit Margin of 16.9%; the high gross margin is typical of advisory services with low cost of goods sold, while the operating and profit margins indicate the efficiency of managing overhead and the final profitability delivered to shareholders. In terms of leverage, total cash of $1.06B significantly exceeds total debt of $497.13M, supported by a Debt to Equity ratio of 21.67, indicating a balance sheet that is conservative rather than leveraged. Short-term liquidity is supported by a Current Ratio of 1.49, meaning the company holds sufficient current assets to cover current liabilities with a nearly 50% safety buffer. Furthermore, Return on Equity stands at 20.5% and Return on Assets at 12.1%, metrics that reveal management is highly effective at generating returns on the capital invested in the business relative to its asset base.
估值评估
Valuation metrics include a P/E Ratio (TTM) of 23.02 and a Forward P/E of 17.37, where the lower forward multiple implies the market expects earnings growth to accelerate, thereby narrowing the valuation gap between current and future expectations. The Price to Book ratio is 4.56, indicating that the market values the company at a significant premium over its book value, likely reflecting the high intangible assets, brand reputation, and future earnings potential inherent in the investment banking business. Alternative valuation measures such as the Price to Sales ratio of 3.96 and an EV/EBITDA of N/A provide additional context, though the absence of EV/EBITDA limits direct comparisons with peers that report this specific metric. Regarding price volatility, the stock has traded between a 52-week low of $134.41 and a high of $211.78; without the specific current share price, the exact percentage below the high cannot be calculated, but the range demonstrates a trading band of approximately 36% over the past year. The Beta of 1.01 indicates that the stock's price volatility moves in lockstep with the broader market, suggesting it does not exhibit excessive sensitivity to general market swings.
Growth & Income
Growth metrics show a Revenue Growth (YoY) of 13.0% and an Earnings Growth (YoY) of 22.3%, demonstrating that earnings are expanding at a rate nearly double that of revenue, which implies improving operational leverage and margin expansion. The company is a dividend payer with a Dividend Yield of 1.6% and a Payout Ratio of 36.4%, a level that is generally considered sustainable given the strong earnings growth and high cash position relative to debt. Because the payout ratio is well below 100%, the company retains a significant portion of earnings to fuel reinvestment, consistent with the nature of a growth-oriented advisory firm. Overall, the growth and income profile reflects a mature yet expanding business that offers modest current income while delivering robust earnings expansion driven by both top-line growth and internal efficiency improvements.