HOULIHAN LOKEY, INC.
For the period ended Sep 30, 2025. Filed Nov 4, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 4, 2025
HLI$148.41+1.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
| (In thousands, except share data and par value) | September 30, 2025 | March 31, 2025 |
|---|---|---|
| Assets: | ||
| Cash and cash equivalents | $923,576 | $971,007 |
| Investment securities | 184,642 | 195,624 |
| Accounts receivable, net of allowance for credit losses of $14,645 and $13,843, respectively | 251,156 | 257,326 |
| Unbilled work in progress, net of allowance for credit losses of $9,488 and $6,764, respectively | 191,248 | 157,760 |
| Property and equipment, net | 145,193 | 149,350 |
| Operating lease right-of-use assets | 352,622 | 362,669 |
| Goodwill | 1,292,121 | 1,284,589 |
| Other intangible assets, net | 200,881 | 212,670 |
| Other assets | 251,926 | 228,713 |
| Total assets | $3,793,365 | $3,819,708 |
| Liabilities and stockholders' equity | ||
| Liabilities: | ||
| Accrued salaries and bonuses | $822,763 | $936,619 |
| Accounts payable and accrued expenses | 108,861 | 137,228 |
| Operating lease liabilities | 432,899 | 438,185 |
| Other liabilities | 181,950 | 132,799 |
| Total liabilities | 1,546,473 | 1,644,831 |
| Commitments and contingencies (Note 16) | ||
| Stockholders' equity: | ||
| Class A common stock, $0.001 par value. Authorized 1,000,000,000 shares; issued and outstanding 54,573,369 and 53,822,189 shares, respectively | 55 | 54 |
| Class B common stock, $0.001 par value. Authorized 1,000,000,000 shares; issued and outstanding 15,564,859 and 16,021,106 shares, respectively | 16 | 16 |
| Additional paid-in capital | 759,693 | 843,350 |
| Retained earnings | 1,516,154 | 1,394,738 |
| Accumulated other comprehensive loss | (29,026) | (63,281) |
| Total stockholders' equity | 2,246,892 | 2,174,877 |
| Total liabilities and stockholders' equity | $3,793,365 | $3,819,708 |
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