Stock HLNE HAMILTON LANE INCORPORATED
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Financials Hamilton Lane Incorporated

Equities

HLNE

US4074971064

Investment Management & Fund Operators

Market Closed - Nasdaq
Other stock markets
 04:00:00 2024-04-26 pm EDT 		5-day change 1st Jan Change
114.5 USD +1.01% Intraday chart for Hamilton Lane Incorporated +4.04% +0.96%
Apr. 12 UBS Raises Hamilton Lane Price Target to $120 From $118, Maintains Neutral Rating MT
Apr. 11 JPMorgan Downgrades Hamilton Lane to Neutral From Overweight, $115 Price Target MT

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,192 1,650 3,214 2,875 2,855 4,634 - -
Enterprise Value (EV) 1 1,214 1,675 3,290 2,974 2,969 4,636 4,555 4,455
P/E ratio - 25.7 x - - - 32.2 x 25.8 x 22.9 x
Yield 2.09% 1.99% 1.41% 1.81% 2.16% 1.58% 1.7% 1.84%
Capitalization / Revenue 4.73 x 6.02 x 9.41 x 7.81 x 5.4 x 9.04 x 7.83 x 6.86 x
EV / Revenue 4.82 x 6.11 x 9.63 x 8.08 x 5.62 x 9.04 x 7.7 x 6.59 x
EV / EBITDA 10.3 x 13.2 x 19.6 x 16.2 x 11.4 x 19.7 x 16.4 x 13.6 x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 20.1 x 18.5 x 19.7 x 8.14 x 9.62 x 11.5 x 8.72 x 7.82 x
Nbr of stocks (in thousands) 27,361 29,835 36,287 37,194 38,593 40,463 - -
Reference price 2 43.58 55.31 88.56 77.29 73.98 114.5 114.5 114.5
Announcement Date 5/29/19 5/28/20 5/27/21 5/26/22 5/25/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 252 274 341.6 367.9 528.8 512.5 591.7 675.8
EBITDA 1 117.7 127.3 168.2 183.9 259.8 234.9 277.8 326.4
EBIT 1 104.2 116.4 155.7 169.6 240 223.9 266.2 305
Operating Margin 41.36% 42.48% 45.58% 46.09% 45.4% 43.68% 44.99% 45.14%
Earnings before Tax (EBT) 1 - 140.7 - 313.7 242.6 253.4 314.2 354.6
Net income 1 - 60.82 - - 109.1 191.7 239.9 270.7
Net margin - 22.2% - - 20.63% 37.4% 40.54% 40.06%
EPS 2 - 2.150 - - - 3.555 4.440 5.005
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.9125 1.100 1.250 1.400 1.600 1.809 1.951 2.105
Announcement Date 5/29/19 5/28/20 5/27/21 5/26/22 5/25/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: März 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Net sales 1 96.32 91.7 100.9 135.5 153.4 127.1 112.8 125 126.9 125.3 136.4 139.1 144 150.1 154.3
EBITDA - 44.32 49.94 66.63 75.07 63.7 55.3 60.98 62.26 58.2 - - - - -
EBIT 1 46.5 41.05 46.27 62.52 69.83 58.37 49.32 54.94 55.6 51.39 62.7 61.53 64.64 68.42 70.58
Operating Margin 48.28% 44.76% 45.85% 46.14% 45.52% 45.94% 43.73% 43.94% 43.82% 41.03% 45.95% 44.24% 44.91% 45.58% 45.74%
Earnings before Tax (EBT) 1 98.85 91.72 66.46 67.61 73.23 33.67 68.09 67.74 66.36 50.33 71.36 73.25 76.74 80.89 83.37
Net income 1 52.14 51.85 13.82 33.48 34.88 9.669 31.09 31 41.99 19.51 54.49 55.9 58.58 61.74 63.66
Net margin 54.14% 56.54% 13.7% 24.71% 22.74% 7.61% 27.56% 24.79% 33.1% 15.57% 39.94% 40.19% 40.7% 41.14% 41.25%
EPS 2 1.410 1.400 0.3900 0.9100 0.9700 0.3100 0.8200 0.8100 1.110 0.5100 1.010 1.035 1.085 1.140 1.175
Dividend per Share 2 0.3500 0.3500 0.3500 0.4000 0.4000 0.4000 0.4000 0.4500 0.4450 0.4450 0.4603 0.4928 0.4928 0.4928 0.5095
Announcement Date 11/2/21 2/1/22 5/26/22 8/2/22 11/1/22 2/7/23 5/25/23 8/1/23 11/7/23 2/6/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 21.6 24.4 76.2 99.2 114 1.23 - -
Net Cash position 1 - - - - - - 79.6 180
Leverage (Debt/EBITDA) 0.1834 x 0.1917 x 0.4526 x 0.5393 x 0.4382 x 0.005252 x - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 105% 45.9% 74.5% 80.5% 28.6% 37% 40.3% 40.4%
ROA (Net income/ Total Assets) - - - - - - - -
Assets 1 - - - - - - - -
Book Value Per Share 2 2.170 2.980 4.490 9.500 7.690 9.950 13.10 14.60
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 5/29/19 5/28/20 5/27/21 5/26/22 5/25/23 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Hamilton Lane Incorporated

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
6
Last Close Price
114.5 USD
Average target price
118.2 USD
Spread / Average Target
+3.20%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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Investment Management
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