Houlihan Lokey Investor Presentation Deck
Long history of revenues growth
through various market cycles
Resilient business mix consisting of cyclical
and countercyclical elements
Leader in each of our three business
segments with ample growth opportunities
Consistent track record of
profitability through market cycles
Maintained double-digit adjusted pre-tax
margins through downturns in the economy
Each business segment is similarly
profitable to shareholders
Scalable, capital-light model
Minimal capital balance sheet requirements
Low leverage levels
Scalable model that can be further leveraged
to support top-line growth
Strong Top-Line Growth & Disciplined Expense
REVENUES
ADJUSTED PRE-
TAX MARGIN¹
ADJUSTED NET
INCOME¹
$1,084
2019
24.4%
2019
$189
2019
$1,159
2020
24.3%
2020
$211
2020
$1,525
2021
28.4%
2021²
$317
2021²
$2,270
2022
29.9%
2022²
$485
2022²
$1,809
2023
23.7%
2023
$315
2023
$419
3-mo ended
6/30/2022
24.2%
3-mo ended
6/30/2022
$76
3-mo ended
6/30/2022
Note: Fiscal year ended March 31, unless otherwise noted. All dollar amounts in millions.
1. See page 29 for a description and reconciliation to the most directly comparable GAAP measures for the three months ended June 30, 2023 and 2022.
See page 30 for comparable historical GAAP figures and refer to previously filed earnings releases for historical adjustments.
2. Operated at higher margins as a result of temporarily lower non-compensation expenses as a result of COVID-19.
$416
3-mo ended
6/30/2023
21.0%
3-mo ended
6/30/2023
$62
3-mo ended
6/30/2023
Houlihan Lokey | 26View entire presentation