HLNE

MKT CAP:$5B

Hamilton Lane Incorporated

Market Cap

$5B

Financial Services·Asset Management·🇺🇸 United States·NASDAQ

Financials·Asset Management·🇺🇸·NASDAQ

Stock Price

$108.92-$27.74 (-20.30%)

Apr 22, 2026

Company Details

Hamilton Lane Incorporated is an investment firm specializing in direct and fund of fund investments. It provides following services: separate accounts (customized to each individual client and structured as single client vehicles); special...

CEO

Erik R. Hirsch

IPO Date

Mar 1, 2017

Website

www.hamiltonlane.com

Key Metrics TTM

Revenue

$483M

— YoY

Net Income

$182M

EPS (Diluted)

$5.16

Free Cash Flow

$298M

Revenue / Share

$8.87

Gross Margin

67.5%

Operating Margin

43.4%

Net Margin

37.7%

FCF Margin

61.6%

P/S

11.0x

P/E

29.3x

Earnings Reports

FY 2026

Nov 4, 2025

$191M+27.3%EPS $1.71

Q2 2026

Nov 4, 2025

$191M+27.3%EPS $1.69

FY 2025

Nov 6, 2024

$150MEPS $1.38

Q2 2025

Nov 6, 2024

$150MEPS $1.37

FY 2021

May 27, 2021

$103MEPS $1.15

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 17	$40M	$24M	$17M
Q4 21	$103M	$60M	$46M
Q2 25	$150M	$107M	$67M
Q2 26	$191M	$135M	$80M

Valuation

Quarter	P/S	P/E
Q1 17	—	—
Q4 21	—	—
Q2 25	—	—
Q2 26	11.0x	29.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 17	$17M	$17M
Q4 21	$55M	$45M
Q2 25	$117M	$116M
Q2 26	$121M	$120M

Capital Expenditures

Quarter	CapEx
Q1 17	$363.0K
Q4 21	$10M
Q2 25	$2M
Q2 26	$1M

CapEx

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 17	$1M	2.8%
Q4 21	$0	0.0%
Q2 25	$5M	3.1%
Q2 26	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q1 17	$7M
Q4 21	$15M
Q2 25	$40M
Q2 26	$55M

Revenue Segments

Quarter	Incentive Fee Revenue, Customized Separate Accounts	Incentive Fee Revenue, Specialized Funds	Management And Advisory Fee Revenue, Advisory	Management And Advisory Fee Revenue, Customized Separate Accounts	Management And Advisory Fee Revenue, Distribution Management	Management And Advisory Fee Revenue, Fund Reimbursement Revenue	Management And Advisory Fee Revenue, Reporting And Other	Management And Advisory Fee Revenue, Specialized Funds
Q2 25	$4M	$26M	$6M	$35M	$416.0K	$1M	$7M	$70M
Q2 26	$49M	$121M	$5M	—	$452.0K	$2M	$9M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$72M	$0	$72M
Q1 23	$83M	$0	$83M
Q2 23	$122M	$0	$122M
Q3 23	$150M	$0	$150M
Q4 23	$112M	$0	$112M
Q1 24	$125M	$0	$125M
Q2 24	$230M	$0	$230M
Q3 24	$164M	$0	$164M
Q4 24	$115M	$0	$115M
Q1 25	$166M	$0	$166M
Q2 25	$227M	$0	$227M
Q3 25	$321M	$0	$321M
Q4 25	$277M	$0	$277M
Q1 26	$316M	$0	$316M
Q2 26	$241M	$0	$241M
Q3 26	$340M	$0	$340M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 17	17M	—	—
Q4 21	35M	+103.5%	—
Q2 25	54M	+55.9%	—
Q2 26	54M	+0.6%	—

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 17	—	—
Q4 21	$228.6K	450
Q2 25	$214.3K	700
Q2 26	$251.2K	760

Revenue / Employee