Houlihan Lokey annual operating expenses
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2026
Houlihan Lokey Operating Expenses Growth & History (HLI)
Houlihan Lokey's operating expenses was $2.09B for fiscal 2026.
View full Houlihan Lokey company overviewHoulihan Lokey annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2026 | 2026-03-31 | $2.09B | $203.6M | +10.79% |
| 2025 | 2025-03-31 | $1.89B | $345.7M | +22.43% |
| 2024 | 2024-03-31 | $1.54B | $73.5M | +5.01% |
| 2023 | 2023-03-31 | $1.47B | −$189.4M | −11.43% |
| 2022 | 2022-03-31 | $1.66B | $539.8M | +48.31% |
| 2021 | 2021-03-31 | $1.12B | $187.5M | +20.17% |
| 2020 | 2020-03-31 | $929.8M | $64.5M | +7.45% |
| 2019 | 2019-03-31 | $865.3M | $116.3M | +15.53% |
| 2018 | 2018-03-31 | $749.0M | $58.9M | +8.53% |
| 2017 | 2017-03-31 | $690.1M | $122.7M | +21.63% |
| 2016 | 2016-03-31 | $567.4M | $15.1M | +2.74% |
| 2015 | 2015-03-31 | $552.2M | $62.6M | +12.79% |
| 2014 | 2014-03-31 | $489.6M | — | — |
Houlihan Lokey quarterly operating expenses
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Q1.27
| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q1 2027 | 2026-06-30 | $433.0M | −$82.0M | −15.92% |
| Q4 2026 | 2026-03-31 | $511.0M | −$14.3M | −2.73% |
| Q3 2026 | 2025-12-31 | $556.3M | $58.0M | +11.64% |
| Q2 2026 | 2025-09-30 | $508.1M | $63.8M | +14.37% |
| Q1 2026 | 2025-06-30 | $515.0M | $96.1M | +22.95% |
| Q4 2025 | 2025-03-31 | $525.4M | $118.0M | +28.96% |
| Q3 2025 | 2024-12-31 | $498.3M | $83.7M | +20.20% |
| Q2 2025 | 2024-09-30 | $444.3M | $67.6M | +17.94% |
| Q1 2025 | 2024-06-30 | $418.9M | $76.4M | +22.30% |
| Q4 2024 | 2024-03-31 | $407.4M | $53.2M | +15.03% |
| Q3 2024 | 2023-12-31 | $414.6M | $42.3M | +11.35% |
| Q2 2024 | 2023-09-30 | $376.7M | −$23.5M | −5.86% |
| Q1 2024 | 2023-06-30 | $342.5M | $1.4M | +0.41% |
| Q4 2023 | 2023-03-31 | $354.1M | −$18.4M | −4.94% |
| Q3 2023 | 2022-12-31 | $372.3M | −$267.2M | −41.78% |
| Q2 2023 | 2022-09-30 | $400.2M | $20.2M | +5.32% |
| Q1 2023 | 2022-06-30 | $341.1M | $76.0M | +28.68% |
| Q4 2022 | 2022-03-31 | $372.6M | $12.1M | +3.37% |
| Q3 2022 | 2021-12-31 | $639.5M | $260.1M | +68.54% |
| Q2 2022 | 2021-09-30 | $380.0M | $171.1M | +81.92% |
| Q1 2022 | 2021-06-30 | $265.0M | $96.5M | +57.25% |
| Q4 2021 | 2021-03-31 | $360.4M | $126.4M | +54.00% |
| Q3 2021 | 2020-12-31 | $379.5M | $114.0M | +42.92% |
| Q2 2021 | 2020-09-30 | $208.9M | −$18.8M | −8.26% |
| Q1 2021 | 2020-06-30 | $168.5M | −$34.0M | −16.80% |
| Q4 2020 | 2020-03-31 | $234.0M | $3.2M | +1.39% |
| Q3 2020 | 2019-12-31 | $265.5M | $29.7M | +12.61% |
| Q2 2020 | 2019-09-30 | $227.7M | $8.8M | +4.04% |
| Q1 2020 | 2019-06-30 | $202.6M | $22.7M | +12.62% |
| Q4 2019 | 2019-03-31 | $230.8M | $414,000 | +0.18% |
| Q3 2019 | 2018-12-31 | $235.8M | $16,000 | +0.01% |
| Q2 2019 | 2018-09-30 | $218.8M | $0 | 0.00% |
| Q1 2019 | 2018-06-30 | $179.9M | $0 | 0.00% |
| Q4 2018 | 2018-03-31 | $230.4M | $45.4M | +24.55% |
| Q3 2018 | 2017-12-31 | $235.8M | $31.3M | +15.31% |
| Q2 2018 | 2017-09-30 | $218.8M | $30.0M | +15.86% |
| Q1 2018 | 2017-06-30 | $179.9M | $9.3M | +5.42% |
| Q4 2017 | 2017-03-31 | $185.0M | $42.9M | +30.18% |
| Q3 2017 | 2016-12-31 | $204.5M | $42.6M | +26.33% |
| Q2 2017 | 2016-09-30 | $188.9M | $47.9M | +34.00% |
| Q1 2017 | 2016-06-30 | $170.6M | $48.1M | +39.30% |
| Q4 2016 | 2016-03-31 | $142.1M | −$3.8M | −2.58% |
| Q3 2016 | 2015-12-31 | $161.8M | $1.8M | +1.15% |
| Q2 2016 | 2015-09-30 | $140.9M | $12.0M | +9.34% |
| Q1 2016 | 2015-06-30 | $122.5M | $5.0M | +4.29% |
| Q4 2015 | 2015-03-31 | $145.9M | — | — |
| Q3 2015 | 2014-12-31 | $160.0M | — | — |
| Q2 2015 | 2014-09-30 | $128.9M | — | — |
| Q1 2015 | 2014-06-30 | $117.5M | — | — |
Houlihan Lokey operating expenses trends
Over the last five fiscal years, Houlihan Lokey's operating expenses increased from $1.12B to $2.09B, a change of $973.2M. The latest reported quarter, Q1 2027, shows $433.0M.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Houlihan Lokey source filings ↗