Houlihan Lokey, Inc. (HLI) FY2027 Q1 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-04-01 to 2026-06-30

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Houlihan Lokey, Inc. cash flow reconciliation, Apr 1, 2026 through Jun 30, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Sales or maturities of investment securities → investing reconciliation: $122,000,000.00investing reconciliation → Net cash from investing activities: $112,000,000.00investing reconciliation → Capital expenditures: $6,000,000.00investing reconciliation → Purchases of investment securities: $4,000,000.00Net cash used in financing activities → financing reconciliation: $217,000,000.00financing reconciliation → Payments to settle employee tax obligations on share-based awards: $106,000,000.00financing reconciliation → Dividends paid: $61,000,000.00financing reconciliation → Share repurchases: $50,000,000.00Net cash used in operating activities → operating reconciliation: $336,000,000.00Net income → operating reconciliation: $78,000,000.00Compensation expense – equity-based incentive awards (Note 13) → operating reconciliation: $45,000,000.00Unbilled work in progress → operating reconciliation: $18,000,000.00Non-cash lease expense → operating reconciliation: $10,000,000.00Other assets → operating reconciliation: $10,000,000.00Depreciation and amortization → operating reconciliation: $8,000,000.00Accounts receivable → operating reconciliation: $1,000,000.00operating reconciliation → Accrued salaries and bonuses: $481,000,000.00operating reconciliation → Accounts payable and accrued expenses and other liabilities: $25,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $1,193,000,000.00Net cash from investing activities → Cash sources and uses: $112,000,000.00Cash sources and uses → Exchange-rate effect: $3,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $749,000,000.00Cash sources and uses → Net cash used in financing activities: $217,000,000.00Cash sources and uses → Net cash used in operating activities: $336,000,000.00Net income: $78,000,000.00Net income+$78.00 MNon-cash lease expense: $10,000,000.00Operating lease amortization+$10.00 MDepreciation and amortization: $8,000,000.00Depreciation & amortization+$8.00 MRevaluation of acquisition contingent consideration: $0.00Compensation expense – equity-based incentive awards (Note 13): $45,000,000.00Allocated share-based expense+$45.00 MOther: $0.00Accounts receivable: $1,000,000.00Accounts receivable+$1.00 MUnbilled work in progress: $18,000,000.00Unbilled work in progress+$18.00 MOther assets: $10,000,000.00Other operating assets+$10.00 MAccrued salaries and bonuses: -$481,000,000.00Accrued compensation−$481.00 MAccounts payable and accrued expenses and other liabilities: -$25,000,000.00Payables & accrued liabilities−$25.00 MNet cash used in operating activities: -$336,000,000.00. Cash required to fund net payments.Operating cash−$336.00 Moperating reconciliation: $506,000,000.00Dividends paid: -$61,000,000.00Dividends paid−$61.00 MShare repurchases: -$50,000,000.00Equity repurchases−$50.00 MOther financing activities: $0.00Payments to settle employee tax obligations on share-based awards: -$106,000,000.00Stock-award tax withholding−$106.00 MNet cash used in financing activities: -$217,000,000.00. Cash required to fund net payments.Financing cash−$217.00 Mfinancing reconciliation: $217,000,000.00Acquisition of businesses, net of cash acquired: $0.00Purchases of investment securities: -$4,000,000.00Investment purchases−$4.00 MCapital expenditures: -$6,000,000.00PP&E purchases−$6.00 MSales or maturities of investment securities: $122,000,000.00Investment sales & maturities+$122.00 MNet cash from investing activities: $112,000,000.00Investing cash+$112.00 Minvesting reconciliation: $122,000,000.00Cash sources and uses: $1,305,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $1,193,000,000.00Beginning cash$1.19 BEnding cash: Cash, cash equivalents, and restricted cash: $749,000,000.00Ending cash$749.00 MExchange-rate effect: -$3,000,000.00FX effect−$3.00 MCASH RECONCILIATIONInvestingflowsFinancingflowsOperatingflowsFree cash flow−$342.00 MOperating cash − cash spent on PP&ECash flow / Net income−4.31×Operating cash flow ÷ net incomeNet cash change−$444.00 MEnding cash − beginning cash
Chart details

Houlihan Lokey, Inc. cash flow reconciliation, Apr 1, 2026 through Jun 30, 2026

Cash flows for Apr 1, 2026 through Jun 30, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Mar 31, 2026. Ending cash: Jun 30, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Mar 31, 2026
1,193,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
negative 336,000,000 US dollars. Net cash used.
Net income
78,000,000 US dollars
Non-cash lease expense
10,000,000 US dollars
Depreciation and amortization
8,000,000 US dollars
Revaluation of acquisition contingent consideration
0 US dollars
Compensation expense – equity-based incentive awards (Note 13)
45,000,000 US dollars
Other
0 US dollars
Accounts receivable
1,000,000 US dollars
Unbilled work in progress
18,000,000 US dollars
Other assets
10,000,000 US dollars
Accrued salaries and bonuses
negative 481,000,000 US dollars
Accounts payable and accrued expenses and other liabilities
negative 25,000,000 US dollars
Investing activities
112,000,000 US dollars. Net cash provided.
Acquisition of businesses, net of cash acquired
0 US dollars
Purchases of investment securities
negative 4,000,000 US dollars
Capital expenditures
negative 6,000,000 US dollars
Sales or maturities of investment securities
122,000,000 US dollars
Financing activities
negative 217,000,000 US dollars. Net cash used.
Dividends paid
negative 61,000,000 US dollars
Share repurchases
negative 50,000,000 US dollars
Other financing activities
0 US dollars
Payments to settle employee tax obligations on share-based awards
negative 106,000,000 US dollars
Operating adjustment reconciliation
506,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
217,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
122,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
negative 3,000,000 US dollars
Ending cash on Jun 30, 2026
749,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
1,305,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 444,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
−4.31×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
negative 336,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
6,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
negative 342,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income or operating cash is negative. The full signed reconciliation is retained: losses remain deductions, and any negative operating-cash total enters the junction from the cash pool. No positive direct-income connection is implied.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: negative 336,000,000 US dollars minus 6,000,000 US dollars equals negative 342,000,000 US dollars.
Houlihan Lokey, Inc. (HLI) FY2027 Q1 Statement of Cash Flows Sankey chart
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