Houlihan Lokey Stock Price, News & Analysis

Houlihan Lokey, Inc. (NYSE: HLI) is a global investment bank that focuses on advisory services across mergers and acquisitions, capital solutions, financial restructuring, and financial and valuation advisory. Classified in the finance and insurance sector under investment banking and securities dealing, the firm emphasizes independent strategic and financial advice for corporations, institutions, financial sponsors, and governments worldwide.

According to company disclosures, Houlihan Lokey serves clients globally with offices in the Americas, Europe, the Middle East, and the Asia-Pacific region. The firm highlights independent advice and intellectual rigor as central to its approach across all advisory services. Its Class A common stock trades on the New York Stock Exchange under the ticker symbol HLI.

Business Segments and Advisory Focus

Houlihan Lokey reports its activities across several advisory areas that align with its segment structure. In its Corporate Finance activities, the firm provides mergers and acquisitions and capital markets advisory services, often referred to as capital solutions in its public communications. These services are directed at transactions such as M&A and related financing mandates.

The Financial Restructuring activities focus on advising on complex restructuring situations. Company materials describe this as a global practice that works on restructuring transactions across markets, reflecting demand for advisory support in distressed or transitional capital structures.

Through its Financial and Valuation Advisory activities, the firm provides valuation and financial opinion services, as well as financial and strategic consulting practices. Disclosures note that this area includes financial and valuation advisory services and that the firm performs recurring portfolio valuation work, which also supports proprietary datasets such as the Houlihan Lokey Private Credit DataBank.

Global Reach and Sector Coverage

Houlihan Lokey states that it maintains offices in multiple regions, including the Americas, Europe, the Middle East, and the Asia-Pacific region. Within these regions, the firm has built industry-focused groups such as Industrials, Consumer, Aerospace, Defense & Government, Capital Solutions, and Financial Sponsors coverage. Public announcements describe dedicated teams in areas like infrastructure debt advisory in Europe, active lifestyle and luxury goods in the consumer sector, and financial sponsors coverage across the U.S. and Europe.

The firm’s Capital Solutions Group, as described in recent communications, operates across numerous offices in several countries and advises on capital-raising and related transactions. The Financial Sponsors Group is described as one of the largest dedicated sponsor coverage teams among investment banks, managing relationships with private equity firms, credit funds, family offices, and sovereign wealth funds.

Market Position and Recognitions

Houlihan Lokey cites data from LSEG (formerly Refinitiv) to describe its position in the advisory market. Company materials state that it has been the No. 1 investment bank for all global M&A transactions for the past two years based on number of transactions. It also reports being the No. 1 M&A advisor in the U.S. for the past 10 years, the No. 1 global restructuring advisor for the past 11 years, and the No. 1 global M&A fairness opinion advisor over the past 25 years, again based on transaction counts according to data provided by LSEG.

These rankings are repeatedly referenced in the firm’s news releases and proxy materials as indicators of its transaction volume and long-term activity across M&A, restructuring, and fairness opinions.

Corporate Structure and Governance Highlights

Houlihan Lokey, Inc. is a Delaware corporation with a capital structure that includes Class A and Class B common stock. The Class A common stock is listed on the NYSE under the symbol HLI. The company has disclosed the existence of a voting trust arrangement (the HL Voting Trust) through which current and former employees and members of management hold Class B common stock, with trustees voting those shares pursuant to a voting trust agreement.

An amended and restated voting trust agreement was entered into in December 2025, as described in a Form 8-K. The filing explains that the agreement revises termination provisions, addresses how certain shares are voted if the trust holds more than a specified percentage of outstanding shares after a defined conversion date, and outlines circumstances under which former employees and employees engaging in certain transactions may have shares released or withdrawn from the trust, subject to company policies.

Corporate governance disclosures in the company’s proxy statement describe a board of directors elected in classes, standard director compensation programs, and the use of committees such as the Nominating and Corporate Governance Committee. The proxy statement also notes that the company’s fiscal year ends on March 31 and that references to fiscal years correspond to that fiscal year-end.

Financial Reporting and Segment Performance

Houlihan Lokey provides regular financial reporting, including quarterly results furnished via Form 8-K. In its second quarter fiscal 2026 press release, the company presented revenues by segment for Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory, along with operating income, compensation and non-compensation expenses, and tax provisions. The firm also reports adjusted (non-GAAP) metrics such as adjusted net income and adjusted compensation ratios, with reconciliations to GAAP figures included in its earnings materials.

Segment data in that release show revenues attributed to Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory, along with counts of managing directors and measures such as the number of closed transactions or fee events. The company explains that closed transactions correspond to transactions described as effectively closed in its annual report and that fee events are defined based on revenue activity above a stated minimum.

Data and Analytics Initiatives

In addition to traditional advisory services, Houlihan Lokey has announced the development of proprietary data and analytics offerings. The Houlihan Lokey Private Credit DataBank is described as a proprietary dataset and analytics platform that provides structured, loan-level insights into the private credit market. The dataset is sourced from the firm’s recurring portfolio valuation work and includes observations from a large number of loan valuations.

Company materials state that each loan in the DataBank includes standardized data fields relating to terms, covenants, fair value metrics, credit metrics, and borrower financials, with historical data dating back several years. The dataset is described as being updated on an ongoing basis, supporting analysis of credit risk, borrower performance, and market trends over time. The firm notes that this platform is used by various types of users in private credit, including investor relations teams, valuation professionals, investment professionals, and limited partners.

Client Base and Advisory Approach

Houlihan Lokey states that it serves corporations, institutions, governments, and financial sponsors worldwide. Public communications emphasize a client-focused advisory model grounded in independent advice and intellectual rigor. In areas such as Capital Solutions, Financial Sponsors coverage, and sector-specific groups (for example, Industrials and Consumer), the firm highlights the experience of senior professionals and their work on complex transactions across regions and subsectors.

Across its communications, the firm underscores its emphasis on sector expertise, global reach, and advisory services that span M&A, capital solutions, restructuring, and valuation. Its repeated references to transaction volume rankings and dedicated coverage teams are presented as key characteristics of the Houlihan Lokey platform for stakeholders evaluating HLI stock and the company’s role in the investment banking industry.