Houlihan Lokey, Inc. (NYSE:HLI) is included among the 15 Dividend Stocks with Low Payout Ratios and Strong Upside.
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On December 17, Keefe Bruyette lowered its price target on Houlihan Lokey, Inc. to $228 from $230 and kept an Outperform rating. In a research note, the firm said it still expects a constructive economic backdrop in 2026.
Results from fiscal Q2 2026 supported that view. Revenue reached $659 million, up from $575 million in the second quarter ended September 30, 2024. Net income rose to $112 million, or $1.63 per diluted share, compared with $94 million, or $1.37 per diluted share, a year earlier.
Growth was spread across the platform. Corporate Finance revenue increased 21% year over year. Financial Restructuring revenue rose 2% and Financial and Valuation Advisory revenue climbed 10%. Each segment contributed, even as activity levels varied by market.
The balance sheet remains a clear strength. As of September 30, 2025, the firm held $1.11 billion in unrestricted cash, cash equivalents, and investment securities. That liquidity gives the company flexibility across cycles.
Houlihan Lokey, Inc. operates as a global investment bank with core strengths in mergers and acquisitions, capital solutions, financial restructuring, and valuation and advisory services.
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