Houlihan Lokey annual gross margin
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
Houlihan Lokey Gross Margin Growth & History (HLI)
Houlihan Lokey's gross margin was 38.50% for fiscal 2026.
View full Houlihan Lokey company overviewHoulihan Lokey annual gross margin history
| Fiscal year | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| 2026 | 2026-03-31 | 38.50% | +6.18 pp |
| 2025 | 2025-03-31 | 32.32% | +2.49 pp |
| 2024 | 2024-03-31 | 29.83% | −0.96 pp |
| 2023 | 2023-03-31 | 30.79% | −4.25 pp |
| 2022 | 2022-03-31 | 35.04% | +0.86 pp |
| 2021 | 2021-03-31 | 34.18% | +6.36 pp |
| 2020 | 2020-03-31 | 27.82% | −0.40 pp |
| 2019 | 2019-03-31 | 28.22% | −0.60 pp |
| 2018 | 2018-03-31 | 28.82% | +1.13 pp |
| 2017 | 2017-03-31 | 27.69% | +0.49 pp |
| 2016 | 2016-03-31 | 27.20% | +1.08 pp |
| 2015 | 2015-03-31 | 26.12% | — |
Houlihan Lokey quarterly gross margin
Q2.15
Q3.15
Q1.16
Q2.16
Q3.16
Q4.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
Q3.26
Q4.26
Q1.27
| Fiscal quarter | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| Q1 2027 | 2026-06-30 | 30.14% | −0.94 pp |
| Q4 2026 | 2026-03-31 | 38.48% | +4.56 pp |
| Q3 2026 | 2025-12-31 | 32.17% | +0.79 pp |
| Q2 2026 | 2025-09-30 | 33.79% | +0.75 pp |
| Q1 2026 | 2025-06-30 | 31.07% | +0.47 pp |
| Q4 2025 | 2025-03-31 | 33.92% | +3.66 pp |
| Q3 2025 | 2024-12-31 | 31.38% | +1.87 pp |
| Q2 2025 | 2024-09-30 | 33.04% | +2.50 pp |
| Q1 2025 | 2024-06-30 | 30.61% | +1.72 pp |
| Q4 2024 | 2024-03-31 | 30.26% | −2.55 pp |
| Q3 2024 | 2023-12-31 | 29.52% | −0.35 pp |
| Q2 2024 | 2023-09-30 | 30.54% | +2.44 pp |
| Q1 2024 | 2023-06-30 | 28.89% | −3.91 pp |
| Q4 2023 | 2023-03-31 | 32.81% | +0.71 pp |
| Q3 2023 | 2022-12-31 | 29.87% | −6.24 pp |
| Q2 2023 | 2022-09-30 | 28.09% | −7.20 pp |
| Q1 2023 | 2022-06-30 | 32.80% | −3.01 pp |
| Q4 2022 | 2022-03-31 | 32.09% | −2.89 pp |
| Q3 2022 | 2021-12-31 | 36.11% | +0.94 pp |
| Q2 2022 | 2021-09-30 | 35.30% | +2.36 pp |
| Q1 2022 | 2021-06-30 | 35.80% | +4.44 pp |
| Q4 2021 | 2021-03-31 | 34.98% | +7.37 pp |
| Q3 2021 | 2020-12-31 | 35.17% | +6.97 pp |
| Q2 2021 | 2020-09-30 | 32.93% | +5.36 pp |
| Q1 2021 | 2020-06-30 | 31.36% | +3.53 pp |
| Q4 2020 | 2020-03-31 | 27.62% | −2.03 pp |
| Q3 2020 | 2019-12-31 | 28.20% | +1.42 pp |
| Q2 2020 | 2019-09-30 | 27.57% | −1.49 pp |
| Q1 2020 | 2019-06-30 | 27.84% | +0.63 pp |
| Q4 2019 | 2019-03-31 | 29.65% | +3.64 pp |
| Q3 2019 | 2018-12-31 | 26.78% | −1.12 pp |
| Q2 2019 | 2018-09-30 | 29.06% | +0.66 pp |
| Q1 2019 | 2018-06-30 | 27.21% | −0.41 pp |
| Q4 2018 | 2018-03-31 | 26.01% | −3.67 pp |
| Q3 2018 | 2017-12-31 | 27.91% | −0.51 pp |
| Q2 2018 | 2017-09-30 | 28.40% | +8.40 pp |
| Q1 2018 | 2017-06-30 | 27.62% | +6.10 pp |
| Q4 2017 | 2017-03-31 | 29.68% | +0.33 pp |
| Q3 2017 | 2016-12-31 | 28.42% | +0.66 pp |
| Q2 2017 | 2016-09-30 | 20.00% | −4.00 pp |
| Q1 2017 | 2016-06-30 | 21.52% | −5.67 pp |
| Q4 2016 | 2016-03-31 | 29.35% | — |
| Q3 2016 | 2015-12-31 | 27.76% | +1.41 pp |
| Q2 2016 | 2015-09-30 | 23.99% | +0.12 pp |
| Q1 2016 | 2015-06-30 | 27.19% | — |
| Q3 2015 | 2014-12-31 | 26.35% | — |
| Q2 2015 | 2014-09-30 | 23.88% | — |
Houlihan Lokey gross margin trends
Over the last five fiscal years, Houlihan Lokey's gross margin increased from 34.18% to 38.50%, a change of +4.32 percentage points. The latest reported quarter, Q1 2027, shows 30.14%.
About the metric
What gross margin means
Gross margin measures the percentage of revenue remaining after the direct costs of producing goods or services. It helps show how efficiently a company turns sales into gross profit before operating expenses.
Calculation and source
How gross margin is calculated
TickerStat calculates gross margin as SEC-reported gross profit divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Houlihan Lokey source filings ↗