Filing Flows › Houlihan Lokey (HLI) › Q1 FY27 › vs Q4 FY26
Houlihan Lokey (HLI) Q1 FY27 vs Q4 FY26 (quarter over quarter)
Houlihan Lokey's revenue fell $125M (-20%) from $636M in Q4 FY26 to $511M in Q1 FY27. Operating margin 15.3% against 19.7% (-4.4 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 Q4 FY26, the increases inside each band.
Margins
| Q1 FY27 | Q4 FY26 | Change | |
|---|---|---|---|
| Operating margin | 15.3% | 19.7% | -4.4 pts |
| Net margin | 15.3% | 15.5% | -0.2 pts |
Every line
| Line | Q1 FY27 | Q4 FY26 | Change | % |
|---|---|---|---|---|
| Revenue | $511M | $636M | −$125M | -20% |
| Other income, net | $8.0M | $9.4M | −$1.4M | -15% |
| Operating profit | $78.0M | $125M | −$47.1M | -38% |
| Pre-tax earnings | $86.0M | $135M | −$48.5M | -36% |
| Net earnings | $78.0M | $98.3M | −$20.3M | -21% |
| Income tax | $8.0M | $36.2M | −$28.2M | -78% |
| Operating cash sources | $467M | −$135M | $602M | — |
| Depreciation & amortization | $8.0M | $8.0M | −$44K | -0.5% |
| Share-based compensation | $45.0M | $51.5M | −$6.5M | -13% |
| Cash used in operations | $336M | −$293M | $629M | — |
| Working capital & other | $467M | −$135M | $602M | — |
Questions
How much did Houlihan Lokey's revenue grow quarter over quarter in Q1 FY27?
Houlihan Lokey's revenue fell $125M (-20%) from $636M in Q4 FY26 to $511M in Q1 FY27. Operating margin 15.3% against 19.7% (-4.4 pts).