HLI FY 2021 Earnings Report — Houlihan Lokey, Inc. Revenue & Financial Results | Market Cap Arena

Houlihan Lokey, Inc.HLI

FY 2021 Earnings

Reported May 21, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$1.5B	—	$1.2B	—	31.6%
Op. Income	$408M	—	$230M	—	77.8%
Gross Margin	36.3%	—	36.4%	—	-0.0pp
Net Margin	20.5%	—	15.9%	—	4.7pp
EPS (Diluted)	$4.55	—	$2.80	—	62.5%
Free Cash Flow	$566M	—	$267M	—	111.9%

Revenue Flow

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$971M
GROSS PROFIT	$554M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$96M
SG&A Expenses	$96M
Other Expenses	$51M
Operating Expenses	$146M
Cost & Expenses	$1.1B
OPERATING INCOME	$408M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$1M
INCOME BEFORE TAX	$409M
Income Tax Expense	$96M
Net Income from Continuing Ops	$313M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$313M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$313M
D&A	$15M
EBIT	$408M
EBITDA	$423M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$971M
GROSS PROFIT	$554M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$96M
SG&A Expenses	$96M
Other Expenses	$51M
Operating Expenses	$146M
Cost & Expenses	$1.1B
OPERATING INCOME	$408M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$1M
INCOME BEFORE TAX	$409M
Income Tax Expense	$96M
Net Income from Continuing Ops	$313M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$313M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$313M
D&A	$15M
EBIT	$408M
EBITDA	$423M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$313M
Depreciation & Amortization	$15M
Stock-Based Compensation	$62M
Deferred Income Tax	-$21M
Other Non-Cash Items	$30M
Change in Working Capital	$180M
OPERATING CASH FLOW	$580M
Capital Expenditure	-$14M
Acquisitions (Net)	-$12M
Purchases of Investments	-$392M
Sales/Maturities of Investments	$318M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$100M
Net Debt Issuance	-$4M
Common Stock Repurchased	-$102M
Common Dividends Paid	-$92M
Other Financing Activities	-$17M
NET CASH FROM FINANCING	-$27M
FREE CASH FLOW	$566M
Net Change in Cash	$466M

Balance Sheet

Item	Amount
Cash & Equivalents	$847M
Short-Term Investments	$0
Net Receivables	$227M
Inventory	$0
Other Current Assets	$373.0K
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$198M
Goodwill	$671M
Intangible Assets	$195M
Long-Term Investments	$209M
Tax Assets	$28M
Other Non-Current Assets	$51M
TOTAL NON-CURRENT ASSETS	$1.4B
TOTAL ASSETS	$2.4B
Account Payables	$67M
Short-Term Debt	$0
Deferred Revenue	$28M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$812M
Long-Term Debt	$818.0K
Deferred Revenue NC	$0
Deferred Tax Liabilities	$52.0K
Other Non-Current Liabilities	$55M
TOTAL NON-CURRENT LIABILITIES	$230M
TOTAL LIABILITIES	$1.0B
Common Stock	$68.0K
Additional Paid-In Capital	$804M
Retained Earnings	$600M
Treasury Stock	$0
Accum. Other Comp. Income	-$20M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$0
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$2.4B
Total Debt	$175M
Net Debt	-$672M