HLI FY 2022 Earnings Report — Houlihan Lokey, Inc. Revenue & Financial Results | Market Cap Arena

Houlihan Lokey, Inc.HLI

FY 2022 Earnings

Reported May 27, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$2.3B	—	$1.5B	—	48.8%
Op. Income	$613M	—	$408M	—	50.2%
Gross Margin	37.9%	—	36.3%	—	1.6pp
Net Margin	19.3%	—	20.5%	—	-1.2pp
EPS (Diluted)	$6.41	—	$4.55	—	40.9%
Free Cash Flow	$728M	—	$566M	—	28.7%

Revenue Flow

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.4B
GROSS PROFIT	$861M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$128M
SG&A Expenses	$128M
Other Expenses	$121M
Operating Expenses	$248M
Cost & Expenses	$1.7B
OPERATING INCOME	$613M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$9M
INCOME BEFORE TAX	$604M
Income Tax Expense	$166M
Net Income from Continuing Ops	$438M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$438M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$438M
D&A	$49M
EBIT	$613M
EBITDA	$661M
EPS	$7
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.4B
GROSS PROFIT	$861M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$128M
SG&A Expenses	$128M
Other Expenses	$121M
Operating Expenses	$248M
Cost & Expenses	$1.7B
OPERATING INCOME	$613M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$9M
INCOME BEFORE TAX	$604M
Income Tax Expense	$166M
Net Income from Continuing Ops	$438M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$438M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$438M
D&A	$49M
EBIT	$613M
EBITDA	$661M
EPS	$7
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$438M
Depreciation & Amortization	$49M
Stock-Based Compensation	$92M
Deferred Income Tax	$0
Other Non-Cash Items	-$24M
Change in Working Capital	$182M
OPERATING CASH FLOW	$737M
Capital Expenditure	-$9M
Acquisitions (Net)	-$361M
Purchases of Investments	-$102M
Sales/Maturities of Investments	$197M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$274M
Net Debt Issuance	-$280.0K
Common Stock Repurchased	-$305M
Common Dividends Paid	-$115M
Other Financing Activities	-$39M
NET CASH FROM FINANCING	-$459M
FREE CASH FLOW	$728M
Net Change in Cash	-$13M

Balance Sheet

Item	Amount
Cash & Equivalents	$834M
Short-Term Investments	$0
Net Receivables	$249M
Inventory	$0
Other Current Assets	$373.0K
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$224M
Goodwill	$1.1B
Intangible Assets	$247M
Long-Term Investments	$109M
Tax Assets	$95M
Other Non-Current Assets	$58M
TOTAL NON-CURRENT ASSETS	$1.8B
TOTAL ASSETS	$2.9B
Account Payables	$126M
Short-Term Debt	$0
Deferred Revenue	$29M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1.2B
Long-Term Debt	$539.0K
Deferred Revenue NC	$0
Deferred Tax Liabilities	$789.0K
Other Non-Current Liabilities	$75M
TOTAL NON-CURRENT LIABILITIES	$273M
TOTAL LIABILITIES	$1.4B
Common Stock	$68.0K
Additional Paid-In Capital	$565M
Retained Earnings	$922M
Treasury Stock	$0
Accum. Other Comp. Income	-$43M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$0
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$2.9B
Total Debt	$198M
Net Debt	-$636M