A global independent investment bank that advises companies on mergers, takeovers, and capital raising, and helps firms work through debt and financial restructuring. Its most familiar face is Corporate Finance, a go-to advisor for selling mid-sized businesses. Founded in Los Angeles in 1972 by Richard Houlihan and O. Kit Lokey, both refugees from the accounting giant PricewaterhouseCoopers, it was originally named Houlihan Lokey Howard & Zukin after its four founding partners. Today the firm is broadly owned by its own employees, and it trades as a "controlled company" on the New York Stock Exchange, with a voting trust steering most of its voting power.
Houlihan Lokey files prospectus supplement to register resale of 365,078 Class A shares tied to acquisitions
The supplement covers 255,422 shares issuable upon conversion of Class B stock held by former Waller Helms Advisors LLC members, acquired in December 2024.
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On August 13, 2026, Houlihan Lokey filed a prospectus supplement under Rule 424(b) to register the potential resale of Class A common stock.
It also covers 109,656 shares issuable upon conversion of Class B stock held by former 7 Mile Advisors, LLC members, acquired in December 2023.
All shares were previously registered under a prior Form S-3 (File No. 333-273952), now replaced by a new Form S-3 filed August 10, 2026 (File No. 333-298200).
The filing includes a legal opinion from Latham & Watkins LLP regarding Delaware law issues.
8.01 Other Events · 9.01 Financial Statements and Exhibits
Houlihan Lokey Q1 FY2027 revenues fell to $511M from $605M; diluted EPS $1.15.
First quarter fiscal 2027 revenues were $511 million, down from $605 million in the prior-year quarter.
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GAAP net income attributable to Houlihan Lokey was $78 million, or $1.15 per diluted share, versus $98 million, or $1.42 per diluted share, a year ago.
Adjusted net income was $91 million, or $1.35 per diluted share, compared with $148 million, or $2.14 per diluted share, in the prior-year quarter.
Corporate Finance revenues fell 24% to $303 million; Financial Restructuring revenues fell 8% to $119 million; Financial and Valuation Advisory revenues rose 13% to $89 million.
The company declared a quarterly dividend of $0.70 per share, payable September 15, 2026, and repurchased 348 thousand shares during the quarter.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Houlihan Lokey files prospectus supplement for resale of up to 32,421 Class A shares tied to acquisitions
The supplement covers up to 4,009 shares issuable upon conversion of Class B shares held by former Waller Helms Advisors LLC members, issued January 20, 2026 after meeting post-closing performance targets.
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On February 25, 2026, Houlihan Lokey filed a prospectus supplement under Rule 424(b) for the possible resale of Class A common stock.
It also covers up to 28,412 shares issuable to former 7 Mile Advisors LLC sellers from the December 2023 acquisition, including 1,109 shares issued January 27, 2026 and 27,303 shares issued December 26, 2025.
The 27,303 shares were issued upon conversion of a portion of convertible notes from the 7 Mile Advisors acquisition.
The company included a legal opinion from Latham & Watkins LLP (Exhibit 5.1) regarding Delaware law issues for the offered shares.
8.01 Other Events · 9.01 Financial Statements and Exhibits
Houlihan Lokey Q3 FY2026 revenues rose to $717M, diluted EPS $1.70
Third quarter fiscal 2026 revenues were $717 million, up from $634 million in the prior-year quarter.
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GAAP net income was $117 million ($1.70 diluted EPS) versus $95 million ($1.39) a year ago; adjusted net income was $133 million ($1.94 diluted EPS).
Segment revenues grew 12% in Corporate Finance, 19% in Financial Restructuring, and 6% in Financial and Valuation Advisory year over year.
The Board declared a quarterly dividend of $0.60 per share, payable March 15, 2026, to stockholders of record on March 2, 2026.
The company repurchased approximately 418,000 shares during the quarter and held $1.18 billion in cash and investment securities as of December 31, 2025.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
The agreement terminates upon written agreement of the company and trustees, 10 years after all Class B stock converts, or when the trust holds less than 5% of outstanding common stock.
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Houlihan Lokey entered into an amended and restated voting trust agreement on December 30, 2025, replacing the 2015 agreement as amended.
If the trust holds more than 30% of outstanding shares after the conversion date, trustees must vote those excess shares proportionally with other stockholders.
Former employees unemployed for at least 12 months may have shares released from the trust after the conversion date; withdrawals are also allowed for pledging, hedging, or monetization transactions.
A special committee of disinterested directors approved the agreement after review.
1.01 Entry into a Material Definitive Agreement · 9.01 Financial Statements and Exhibits