Company Valuation: Houlihan Lokey, Inc.

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 4,586 5,915 6,004 8,860 11,328 11,157 - -
Change - 28.98% 1.5% 47.57% 27.87% -1.52% - -
Enterprise Value (EV) 1 3,740 5,915 6,004 8,138 11,328 11,157 11,157 11,157
Change - 58.17% 1.49% 35.56% 39.2% -1.52% 0% 0%
P/E ratio 14.6x 13.7x 22x 31.2x 27.7x 23.3x 22.2x 17.8x
PBR 3.28x 4.05x 3.69x 4.82x 5.19x 4.69x 4.25x 3.67x
PEG - 0.3x -0.6x 9.55x 0.7x 1.3x 4.31x 0.7x
Capitalization / Revenue 3.01x 2.61x 3.32x 4.63x 4.74x 4.19x 3.76x 3.34x
EV / Revenue 2.45x 2.61x 3.32x 4.25x 4.74x 4.19x 3.76x 3.34x
EV / EBITDA 8.43x 8.11x 13.7x 18.5x 18.5x 13.4x 11.9x 10.4x
EV / EBIT 8.65x 8.69x 14.2x 19.2x 19.2x 17x 14.9x 12.8x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 1.3 1.72 2.12 2.22 2.28 2.398 2.558 2.755
Rate of return 1.95% 1.96% 2.42% 1.73% 1.41% 1.5% 1.6% 1.72%
EPS 2 4.55 6.41 3.98 4.11 5.82 6.856 7.21 8.977
Distribution rate 28.6% 26.8% 53.3% 54% 39.2% 35% 35.5% 30.7%
Net sales 1 1,525 2,270 1,809 1,914 2,389 2,662 2,968 3,342
EBITDA 1 443.6 729.5 437.4 440.8 612.4 833.6 937.6 1,073
EBIT 1 432.5 681 424.1 423 590.4 657.4 750.3 872.7
Net income 1 312.8 437.8 269.2 280.3 399.7 469.7 496.8 596.5
Net Debt 1 -846 0.539 - -721.2 - 0.01 0.01 0.01
Reference price 2 66.51 87.80 87.49 128.19 161.50 159.87 159.87 159.87
Nbr of stocks (in thousands) 68,951 67,368 68,621 69,113 70,145 69,785 - -
Announcement Date 5/11/21 5/12/22 5/9/23 5/8/24 5/7/25 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.32x4.19x13.38x1.5% 11.16B
12.84x9.68x15.38x2.54% 61.99B
16.85x - - 0.71% 22.14B
22.36x35.23x47.92x3.32% 6.96B
18.85x2.76x - 2.41% 6.31B
12.54x - - 7.48% 5.21B
20.32x2.63x13.2x4.02% 4.89B
47.55x1.91x8.91x0.65% 3.94B
Average 21.83x 9.40x 19.76x 2.83% 15.33B
Weighted average by Cap. 16.77x 9.76x 17.27x 2.36%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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