HLI FY 2019 Earnings Report — Houlihan Lokey, Inc. Revenue & Financial Results | Market Cap Arena

Houlihan Lokey, Inc.HLI

FY 2019 Earnings

Reported May 23, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$1.1B	—	$963M	—	12.6%
Op. Income	$219M	—	$214M	—	2.2%
Gross Margin	36.2%	—	33.9%	—	2.3pp
Net Margin	14.7%	—	17.9%	—	-3.2pp
EPS (Diluted)	$2.42	—	$2.60	—	-6.9%
Free Cash Flow	$218M	—	$243M	—	-10.4%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$692M
GROSS PROFIT	$392M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$83M
SG&A Expenses	$83M
Other Expenses	$90M
Operating Expenses	$173M
Cost & Expenses	$865M
OPERATING INCOME	$219M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$5M
INCOME BEFORE TAX	$224M
Income Tax Expense	$65M
Net Income from Continuing Ops	$159M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$159M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$159M
D&A	$14M
EBIT	$219M
EBITDA	$234M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$692M
GROSS PROFIT	$392M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$83M
SG&A Expenses	$83M
Other Expenses	$90M
Operating Expenses	$173M
Cost & Expenses	$865M
OPERATING INCOME	$219M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$5M
INCOME BEFORE TAX	$224M
Income Tax Expense	$65M
Net Income from Continuing Ops	$159M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$159M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$159M
D&A	$14M
EBIT	$219M
EBITDA	$234M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$159M
Depreciation & Amortization	$14M
Stock-Based Compensation	$57M
Deferred Income Tax	-$11M
Other Non-Cash Items	$569.0K
Change in Working Capital	$4M
OPERATING CASH FLOW	$224M
Capital Expenditure	-$7M
Acquisitions (Net)	-$71M
Purchases of Investments	-$147M
Sales/Maturities of Investments	$231M
Other Investing Activities	$101.0K
NET CASH FROM INVESTING	$6M
Net Debt Issuance	-$2M
Common Stock Repurchased	-$70M
Common Dividends Paid	-$67M
Other Financing Activities	-$97M
NET CASH FROM FINANCING	-$236M
FREE CASH FLOW	$218M
Net Change in Cash	-$14M

Balance Sheet

Item	Amount
Cash & Equivalents	$286M
Short-Term Investments	$0
Net Receivables	$151M
Inventory	$0
Other Current Assets	$369.0K
TOTAL CURRENT ASSETS	$437M
PP&E (Net)	$31M
Goodwill	$595M
Intangible Assets	$200M
Long-Term Investments	$125M
Tax Assets	$5M
Other Non-Current Assets	$35M
TOTAL NON-CURRENT ASSETS	$988M
TOTAL ASSETS	$1.4B
Account Payables	$55M
Short-Term Debt	$0
Deferred Revenue	$28M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$495M
Long-Term Debt	$9M
Deferred Revenue NC	$28M
Deferred Tax Liabilities	$8M
Other Non-Current Liabilities	-$5M
TOTAL NON-CURRENT LIABILITIES	$39M
TOTAL LIABILITIES	$535M
Common Stock	$65.0K
Additional Paid-In Capital	$645M
Retained Earnings	$276M
Treasury Stock	$0
Accum. Other Comp. Income	-$30M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$891M
Minority Interest	$0
TOTAL EQUITY	$891M
TOTAL LIABILITIES & EQUITY	$1.4B
Total Debt	$9M
Net Debt	-$277M