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HOULIHAN LOKEY, INC. (HLI)

Income Statement Business | Geographic

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsMar-31-23Mar-31-22Mar-31-21Mar-31-20Mar-31-19Mar-31-18Mar-31-17Mar-31-16
   10-K10-K10-K10-K10-K10-K10-K10-K/A
Revenues:  
    Corporate Finance  1,127.11,593.1802.9646.8607.3528.6434.6371.8
    Financial Restructuring  395.7392.8534.7352.5317.8294.1307.6202.3
    Financial and Valuation Advisory  286.6284.1187.9160.1159.3140.6  
    Financial Advisory Services        129.9119.6
Total revenues  1,809.42,270.01,525.51,159.41,084.4963.4872.1650.1
            Revenue growth   [+]-20.3%48.8%31.6%6.9%12.6%10.5%34.2%-4.5%
Cost of goods sold   [+]1,147.91,408.6971.2737.8692.1636.6582.2482.3
Gross profit  661.6861.3554.3421.6392.3326.7289.8167.8
            Gross margin  36.6%37.9%36.3%36.4%36.2%33.9%33.2%25.8%
Selling, general and administrative   [+]84.060.831.263.6104.672.161.926.5
Research and development  54.141.731.626.921.518.517.6 
Other operating expenses  125.6104.568.582.932.012.319.514.9
EBITDA   [+]397.8654.3422.9248.1234.3223.9190.8133.9
            EBITDA margin  22.0%28.8%27.7%21.4%21.6%23.2%21.9%20.6%
Depreciation  13.314.611.19.88.47.95.77.5
EBITA  384.6639.7411.8238.3225.8215.9185.1126.4
            EBITA margin  21.3%28.2%27.0%20.6%20.8%22.4%21.2%19.4%
Amortization of intangibles  45.033.94.27.46.0 3.1 
EBIT   [+]339.6605.8407.7230.8219.8215.9182.0126.4
            EBIT margin  18.8%26.7%26.7%19.9%20.3%22.4%20.9%19.4%
Non-recurring items  -2.1-7.1-0.51.20.71.5  
Other income (expense), net  -17.7-8.91.16.05.23.4-3.5-0.8
Pre-tax income  324.0603.9409.2235.6224.3217.8178.5125.6
Income taxes  69.8165.696.551.965.245.670.155.9
            Tax rate  21.5%27.4%23.6%22.0%29.1%20.9%39.3%44.5%
Minority interest   0.6     0.0
Net income  254.2437.8312.8183.8159.1172.3108.369.7
            Net margin  14.0%19.3%20.5%15.9%14.7%17.9%12.4%10.7%
   
Basic EPS   [+]$4.01$6.74$4.75$2.96$2.56$2.76$1.77$1.18
Diluted EPS   [+]$3.76$6.41$4.55$2.80$2.42$2.60$1.63$1.10
   
Dividends per share   [+]$2.22$1.77$1.40$1.30$1.08$0.83$0.90$1.93
   
Shares outstanding (basic)   [+]63.465.065.862.262.262.561.159.1
Shares outstanding (diluted)   [+]67.668.368.765.765.866.366.663.4
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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