Filing Flows › Houlihan Lokey (HLI) › Q1 FY27 › vs Q1 FY26
Houlihan Lokey (HLI) Q1 FY27 vs Q1 FY26 (year over year)
Houlihan Lokey's revenue fell $94.0M (-16%) from $605M in Q1 FY26 to $511M in Q1 FY27. Gross margin 30.1% against 31.1% (-0.9 pts).
Houlihan Lokey, Q1 FY27: revenue $511M (-16% year over year), operating margin 15.3%, net earnings $78.0M, operating cash flow −$336M. The chart draws each line against Q1 FY26, the increases inside each band.
Margins
| Q1 FY27 | Q1 FY26 | Change | |
|---|---|---|---|
| Gross margin | 30.1% | 31.1% | -0.9 pts |
| Operating margin | 15.3% | 14.9% | +0.4 pts |
| Net margin | 15.3% | 16.2% | -0.9 pts |
Every line
| Line | Q1 FY27 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| Revenue | $511M | $605M | −$94.0M | -16% |
| Gross profit | $154M | $188M | −$34.0M | -18% |
| Cost of revenue | $357M | $417M | −$60.0M | -14% |
| Other income, net | $8.0M | $8.0M | $0 | 0% |
| Operating profit | $78.0M | $90.0M | −$12.0M | -13% |
| Operating expenses | $76.0M | $98.0M | −$22.0M | -22% |
| Pre-tax earnings | $86.0M | $98.0M | −$12.0M | -12% |
| Net earnings | $78.0M | $98.0M | −$20.0M | -20% |
| Income tax | $8.0M | $0 | $8.0M | — |
| Operating cash sources | $467M | $288M | $179M | +62% |
| Depreciation & amortization | $8.0M | $16.0M | −$8.0M | -50% |
| Share-based compensation | $45.0M | $42.0M | $3.0M | +7% |
| Cash used in operations | $336M | $132M | $204M | +155% |
| Working capital & other | $467M | $288M | $179M | +62% |
Questions
How much did Houlihan Lokey's revenue grow year over year in Q1 FY27?
Houlihan Lokey's revenue fell $94.0M (-16%) from $605M in Q1 FY26 to $511M in Q1 FY27. Gross margin 30.1% against 31.1% (-0.9 pts).