Houlihan Lokey, Inc. (HLI)

Houlihan Lokey, Inc. (HLI) is a leading global investment bank with expertise in mergers and acquisitions (M&A), capital markets, financial restructuring, and valuation. Led by CEO Scott Beiser, Houlihan Lokeys mission is to "provide senior-level advice to clients that leads to transformative results." The company holds a prestigious industry position as the #1 M&A advisor for mid-cap transactions in the U.S. and the #1 global restructuring advisor. By late 2025, the HLI stock reached record levels as the M&A market experienced a "Growth Resurgence." Its vision is to be the premier global advisory firm for middle-market companies, providing a hedge against economic cycles through its dominant restructuring practice.

The business operations of Houlihan Lokey are divided into Corporate Finance (CF), Financial Restructuring (FR), and Financial and Valuation Advisory (FVA). In fiscal 2025, the company reported record annual revenues of $2.39 billion, with CF revenue surging 38% as deal activity normalized. The core growth driver for 2026 is the "Private Capital Advisory" expansion, helping private equity firms navigate complex liquidity events. In late 2025, HLI reported a 21% increase in quarterly revenues and maintained a healthy 61% compensation ratio. The 2026 strategic roadmap focuses on "Global Cross-Border Integration," leveraging its recent European acquisitions to capture a larger share of the international mid-market. By utilizing its "Talent Moat"—maintaining a deep pool of specialized industry experts—HLI ensures that its advice remains high-value and non-commoditized. This "Counter-Cyclical Resilience" is a primary driver for the HLI stock price, as its restructuring business provides a floor for earnings even when the M&A market softens.