Houlihan Lokey Inc
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Penke I guess you are interested in Houlihan Lokey Inc. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of Houlihan Lokey Inc. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

You can find me behind Let's Analyse Together in the top-right of each section.

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Quick analysis of Houlihan Lokey Inc (30 sec.)

What can you expect buying and holding a share of Houlihan Lokey Inc? (30 sec.)

How much money do you get?

$2.14

When do you have the money?

1 year

How often do you get paid?

97.5%

What is your share worth?

Current worth

$26.06

Expected worth in 1 year

$30.03

How sure are you?

82.5%

+ What do you gain per year?

Total Gains per Share

$6.10

Return On Investment

5.0%

For what price can you sell your share?

Current Price per Share

$122.38

Expected price per share

$113.74 - $133.18

How sure are you?

50%

1. Valuation of Houlihan Lokey Inc (5 min.)

Live pricePrice per Share (EOD)

$122.38

Book Value per Share

$26.06

Intrinsic Value Per Share

$-88.39 - $-109.85

Total Value Per Share

$-62.33 - $-83.79

My calculation of the intrinsic value of Houlihan Lokey Inc is based how much money is coming from the company's main activities (Free Cash Flow).

The following numbers are based on moving averages and per share and per quarter.
I use a 6% discount rate for the low estimation and 3% for the high estimation.
The current Free Cash Flow Per Share is 3Y: ($1.90) TTM: ($0.98)
The change per quarter (trend) of the Free Cash Flow Per Share is 3Y: ($-0.26) TTM: ($0.04)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$4.84	$4.92	$3.44 - $3.44
2	$5.62	$5.72	$-0.73 - $-0.73
3	$2.77	$2.65	$-4.90 - $-4.90
4	$-3.29	$-4.09	$-9.07 - $-9.07
5	$-12.20	$-14.27	$-13.24 - $-13.24
6	$-23.60	$-27.68	$-17.41 - $-17.41
7	$-37.20	$-44.12	$-21.58 - $-21.58
8	$-52.69	$-63.42	$-25.75 - $-25.75
9	$-69.84	$-85.39	$-29.92 - $-29.92
10	$-88.39	$-109.85	$-34.09 - $-34.09

2. Growth of Houlihan Lokey Inc (5 min.)

Is Houlihan Lokey Inc growing?

	Current year	Previous year	Grow	Grow %
How rich?	$1.7b	$1.4b	$202.5m	12.2%

How much money is Houlihan Lokey Inc making?

	Current year	Previous year	Grow	Grow %
Making money	$64.7m	$64.9m	-$213k	-0.3%
Net Profit Margin	14.1%	14.2%	-	-

How much money comes from the company's main activities?

Quarterly Yearly

3. Financial Health of Houlihan Lokey Inc (5 min.)

4. Comparing to competitors in the Capital Markets industry (5 min.)

Industry Rankings (Capital Markets)

Richest
#68 / 370

Most Revenue
#58 / 370

Most Profit
#67 / 370

Most Efficient
#153 / 370

What can you expect buying and holding a share of Houlihan Lokey Inc? (5 min.)

Welcome investor! Houlihan Lokey Inc's management wants to use your money to grow the business. In return you get a share of Houlihan Lokey Inc.

What can you expect buying and holding a share of Houlihan Lokey Inc?

First you should know what it really means to hold a share of Houlihan Lokey Inc. And how you can make/lose money.

Speculation

The Price per Share of Houlihan Lokey Inc is $122.38. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

The fundamentals: the financial health trends of Houlihan Lokey Inc.
The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Houlihan Lokey Inc, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $26.06. Based on the TTM, the Book Value Change Per Share is $0.99 per quarter. Based on the YOY, the Book Value Change Per Share is $-0.08 per quarter.
You may receive quarterly/yearly dividend in the form of additional shares.
You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.53 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Houlihan Lokey Inc.

How much money are you going to get?

	MRQ		TTM		YOY		5Y		10Y
	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share
Usd Eps	1.04	0.9%	0.95	0.8%	0.94	0.8%	1.05	0.9%	0.76	0.6%
Usd Book Value Change Per Share	1.81	1.5%	0.99	0.8%	-0.08	-0.1%	0.66	0.5%	0.65	0.5%
Usd Dividend Per Share	0.52	0.4%	0.53	0.4%	0.49	0.4%	0.41	0.3%	0.31	0.3%
Usd Total Gains Per Share	2.33	1.9%	1.53	1.2%	0.42	0.3%	1.07	0.9%	0.96	0.8%
Usd Price Per Share	119.91	-	103.21	-	82.32	-	75.22	-	49.68	-
Price to Earnings Ratio	28.74	-	27.01	-	21.92	-	19.29	-	16.43	-
Price-to-Total Gains Ratio	51.43	-	101.95	-	-85.54	-	67.94	-	67.26	-
Price to Book Ratio	4.60	-	4.20	-	3.88	-	3.77	-	2.93	-
Price-to-Total Gains Ratio	51.43	-	101.95	-	-85.54	-	67.94	-	67.26	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	122.38
Number of shares	8

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.53	0.41
Usd Book Value Change Per Share	0.99	0.66
Usd Total Gains Per Share	1.53	1.07
Gains per Quarter (8 shares)	12.21	8.53
Gains per Year (8 shares)	48.83	34.12

Years	Return on Investment (TTM)			Return on Investment (5Y)
	Dividend	Book Value gain	Total gains	Dividend	Book Value gain	Total gains
Broker costs	-	-	-10	-	-	-10
1	17	32	39	13	21	24
2	34	63	88	26	42	58
3	51	95	137	39	63	92
4	68	127	186	52	84	126
5	85	159	235	66	105	160
6	103	190	284	79	126	194
7	120	222	333	92	147	228
8	137	254	382	105	168	262
9	154	286	431	118	189	296
10	171	317	480	131	210	330

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	40.0	0.0	0.0	100.0%	40.0	0.0	0.0	100.0%
Book Value Change Per Share	3.0	1.0	0.0	75.0%	9.0	3.0	0.0	75.0%	14.0	6.0	0.0	70.0%	27.0	11.0	2.0	67.5%	27.0	11.0	2.0	67.5%
Dividend per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	39.0	0.0	1.0	97.5%	39.0	0.0	1.0	97.5%
Total Gains per Share	4.0	0.0	0.0	100.0%	10.0	2.0	0.0	83.3%	18.0	2.0	0.0	90.0%	33.0	6.0	1.0	82.5%	33.0	6.0	1.0	82.5%

Fundamentals of Houlihan Lokey Inc

About Houlihan Lokey Inc

https://hl.com
Capital Markets
2610
10250 Constellation Boulevard, Los Angeles, CA, United States, 90067
Google Maps Bing Maps

Houlihan Lokey, Inc., an investment banking company, provides merger and acquisition (M&A), capital market, financial restructuring, and financial and valuation advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory. The Corporate Finance segment offers general financial advisory services; and advises public and private institutions on buy-side and sell-side transactions, leveraged loans, private mezzanine debt, high-yield debt, initial public offerings, follow-ons, convertibles, equity private placements, private equity, and liability management transactions, as well as advise financial sponsors on various transactions. The Financial Restructuring segment advises debtors, creditors, and other parties-in-interest related to recapitalization/deleveraging transactions. It also provides a range of advisory services, including structuring, negotiation, and confirmation of plans of reorganization; structuring and analysis of exchange offers; corporate viability assessment; dispute resolution and expert testimony; and procuring debtor-in-possession financing. The Financial and Valuation Advisory segment offers valuations of various assets, such as companies, illiquid debt and equity securities, and intellectual property. It also provides fairness opinions in connection with M&A and other transactions, solvency opinions in connection with corporate spin-offs and dividend recapitalizations, and other types of financial opinions. In addition, this segment offers dispute resolution services. It serves corporations, financial sponsors, and government agencies. The company was incorporated in 1972 and is headquartered in Los Angeles, California.

Fundamental data was last updated by Penke on 2024-04-04 15:37:05.

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
The company is making a huge profit.
Using its assets, the company is less efficient in making profit.
Using its investors money, the company is inefficient in making profit.

Operating Efficiency Details

	Compared to previous year	Compared to industry
The company is operating efficient.
The company is less efficient in keeping operating costs low.

Liquidity Details

	Compared to previous year	Compared to industry
The company is just able to pay all its short-term debts.
The company is just able to pay all its short-term debts with the most liquid assets.

Solvency Details

	Compared to previous year	Compared to industry
The company is very able to pay all its debts by selling its assets.
The company is very able to pay all its debts with equity.

Valuation

Valuation Details

	Compared to previous year	Compared to industry
Based on the equity, the company is fair priced.
Based on the earnings, the company is overpriced.
Based on how much money comes from the company's main activities, the company is cheap.

1.1. Profitability of Houlihan Lokey Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit Houlihan Lokey Inc earns for each $1 of revenue.

Above 10% is considered healthy but always compare Houlihan Lokey Inc to the Capital Markets industry mean.
A Net Profit Margin of 13.9% means that $0.14 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Houlihan Lokey Inc:

The MRQ is 13.9%. The company is making a huge profit. +2
The TTM is 14.1%. The company is making a huge profit. +2

Trends

Current period		Compared to		+/-
MRQ	13.9%	TTM	14.1%	-0.2%
TTM	14.1%	YOY	14.2%	-0.1%
TTM	14.1%	5Y	16.9%	-2.8%
5Y	16.9%	10Y	14.9%	+2.0%

Compared to industry (Capital Markets)

Period	Company	Industry (mean)	+/-
MRQ	13.9%	9.8%	+4.1%
TTM	14.1%	9.9%	+4.2%
YOY	14.2%	14.6%	-0.4%
5Y	16.9%	12.9%	+4.0%
10Y	14.9%	12.1%	+2.8%

Measures how much net profit Houlihan Lokey Inc earns for each $1 of revenue.

Revenue is the amount of profit Houlihan Lokey Inc generates before taxes and all other costs. For example, when you buy a cup of coffee it will cost you $3. The company does not earn $3 in profit but also has to pay various costs and taxes to create that cup of coffee. Let's assume the cost of creating a cup of coffee is $1.5.

The $3 you pay for a cup of coffee is called revenue.
The $1.5 that’s left over when all costs to create that cup of coffee (including taxes) are deduced from the revenue is called net profit.

The net profit margin looks at how much net profit Houlihan Lokey Inc earns for each $1 in revenue.

How to use net profit margin

Higher profit margin is better (more profit).
Above 10% is considered healthy but always compare Houlihan Lokey Inc to the Capital Markets industry mean.
Can be used to compare companies within the Capital Markets industry.

You typically want a high profit margin. This means that for each $1 in sales, Houlihan Lokey Inc makes more profit. This shows the investor how efficiently Houlihan Lokey Inc is operating in general and compared to other companies in the same industry. Houlihan Lokey Inc operates in the Capital Markets industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Houlihan Lokey Inc. If profit margins remain low (compared to the Capital Markets industry mean) and there are no improvements to make in production costs or other areas that might be a warning sign. If profit margins are high that means the company has low overhead costs and is efficiently using its resources to generate profit.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Net Profit Margin of Houlihan Lokey Inc is 0.14. This means that Houlihan Lokey Inc earned $0.14 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the Capital Markets industry is 9.8%.
What is the trend?
The trend is important because it shows you how Houlihan Lokey Inc is performing over time. The most recent quarter might be important if Houlihan Lokey Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Houlihan Lokey Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare Houlihan Lokey Inc with other companies in the same industry (Capital Markets).
Net profit margin should rise over the years.
Can be influenced when Houlihan Lokey Inc sells assets (profit will increase while costs remain the same).
It won’t show what part of Houlihan Lokey Inc is doing great or needs improvement (it only looks at total revenue and total net income).

How to calculate net profit margin

Net profit margin = net income / total revenue * 100%

Real example of Houlihan Lokey Inc

You need the following data to determine net profit margin:

Income statement from the period you want to calculate (for example, MRQ or TTM).

Net income MRQ Houlihan Lokey Inc = 70,803
Total revenue MRQ Houlihan Lokey Inc = 511,130
$70,803 / $511,130 = 0.14 or 13.9%

Higher is better

The higher the net profit margin, the more efficient the company is generating income. This helps investors to determine how the company is managing money. The net profit margin is an important indicator when diving into the financial health of a company. Overall, you want to see the net profit margin rising over the years. That means the company improved their production and made it more efficient (if possible).

You can use the net profit margin to compare companies within the same industry. If there are two companies where one is much bigger but the smaller one has a higher net profit margin, that means the smaller company is more efficiently using operational costs.

Important: Profit margins can be very different between industries. Companies with assembly lines or transports are much more prone to see shifting in prices for fuel, ingredients and maintenance compared to companies that only provide services. You should never compare net profit margin between different industries.

1.1.2. Return on Assets

Shows how efficient Houlihan Lokey Inc is using its assets to generate profit.

Above 5% is considered healthy but always compare Houlihan Lokey Inc to the Capital Markets industry mean.
2.4% Return on Assets means that Houlihan Lokey Inc generated $0.02 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Houlihan Lokey Inc:

The MRQ is 2.4%. Using its assets, the company is less efficient in making profit.
The TTM is 2.3%. Using its assets, the company is less efficient in making profit.

Trends

Current period		Compared to		+/-
MRQ	2.4%	TTM	2.3%	+0.1%
TTM	2.3%	YOY	2.5%	-0.2%
TTM	2.3%	5Y	3.2%	-0.9%
5Y	3.2%	10Y	2.9%	+0.3%

Compared to industry (Capital Markets)

Period	Company	Industry (mean)	+/-
MRQ	2.4%	0.5%	+1.9%
TTM	2.3%	0.4%	+1.9%
YOY	2.5%	0.8%	+1.7%
5Y	3.2%	0.5%	+2.7%
10Y	2.9%	0.7%	+2.2%

Shows how efficient Houlihan Lokey Inc is using its assets to generate profit.

For a farm, a tractor is considered an asset. The tractor helps ploughing the land making it possible to plant and harvest crops. But the tractor might be old and needing maintenance all the time reducing its efficiency. Return on assets indicates how effectively the farm is using the tractor (and other assets that help the core business) to plough the land.

How to use return on assets

Higher is better.
Above 5% is considered healthy but always compare Houlihan Lokey Inc to the Capital Markets industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on assets in their analysis

Shows the investor how effectively Houlihan Lokey Inc is using its resources to generate profit. If the return on assets (2.4%) from Houlihan Lokey Inc are higher than the Capital Markets mean (0.5%) that means Houlihan Lokey Inc is using its resources better than their competitors. If not, that means their competitors are more efficient in using their resources to generate profit.

An investor should always look at:

What is the current return on assets?
The current most recent quarter (MRQ) Return on Assets of Houlihan Lokey Inc is 2.4%. This means the company generated $0.02 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Capital Markets industry is 0.5%.
What is the trend?
The trend is important because it shows you how Houlihan Lokey Inc is performing over time. The most recent quarter might be important if Houlihan Lokey Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Houlihan Lokey Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
If a company has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

How to calculate return on assets

Return on assets = net income / total assets * 100%

Real example Houlihan Lokey Inc

You need the following data to determine return on assets (ROA):

Income statement
Balance sheet

Net income MRQ (income statement) from Houlihan Lokey Inc = 70,803
Total assets MRQ (balance sheet) from Houlihan Lokey Inc = 2,958,908
70,803 / 2,958,908 = 0.02 or 2.4%

ROA is an important ratio as it will tell you how effectively Houlihan Lokey Inc is using its resources to generate profits. Example:

Bob and Kristin both sell ice cream in the summer. They both have an ice cream truck. The truck Bob owes cost him $20.000 and the truck Kristin owes cost her $1500. Over the summer, Bob earned $2000 and Kristin earned $200. To calculate the return on assets:

Bob: $2000 / $20.000 * 100% = 10%
Kristin: $200 / $1500 * 100% = 13.3%

This tells you Bob’s company is more valuable but Kristin's company is more efficient. Be aware that total assets can change over time. A transportation business will buy and sell trucks or planes all the time. Before using return on assets as a guideline, you have to know what the exact assets are. For a company that has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

1.1.3. Return on Equity

Shows how efficient Houlihan Lokey Inc is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare Houlihan Lokey Inc to the Capital Markets industry mean.
4.0% Return on Equity means Houlihan Lokey Inc generated $0.04 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Houlihan Lokey Inc:

The MRQ is 4.0%. Using its investors money, the company is inefficient in making profit. -1
The TTM is 3.9%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	4.0%	TTM	3.9%	+0.1%
TTM	3.9%	YOY	4.4%	-0.6%
TTM	3.9%	5Y	5.4%	-1.5%
5Y	5.4%	10Y	4.7%	+0.7%

Compared to industry (Capital Markets)

Period	Company	Industry (mean)	+/-
MRQ	4.0%	1.7%	+2.3%
TTM	3.9%	1.9%	+2.0%
YOY	4.4%	3.1%	+1.3%
5Y	5.4%	2.3%	+3.1%
10Y	4.7%	2.4%	+2.3%

Shows how efficient Houlihan Lokey Inc is using its investors money to generate profit.

A publicly traded company (any company that issues shares to the public) is owned by its shareholders. Return on equity calculates the amount of profit for every $1 the shareholders invested.

How to use return on equity

Higher is better.
Above 15%-20% is considered healthy but always compare Houlihan Lokey Inc to the Capital Markets industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on equity in their analysis

To find out the owners/management's attitude toward their company. You typically want the owners/management to invest in the company and focus on generating profit. If not enough profit is generated (compared to the Capital Markets industry mean), the company might not be investing their money efficiently.

The three steps every investor should look at:

What is the current return on equity?
The current most recent quarter (MRQ) Return on Equity of Houlihan Lokey Inc is 4.0%. This means Houlihan Lokey Inc generated $0.04 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Capital Markets industry is 1.7%.
What is the trend?
The trend is important because it shows you how Houlihan Lokey Inc is performing over time. The most recent quarter might be important if Houlihan Lokey Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Houlihan Lokey Inc up to 10 years back (depending if Houlihan Lokey Inc existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Does not include intangible assets (non physical assets like licences, computer software, etc.).
Stockholders equity and shareholders equity refer to the same thing.
Liabilities should not be more than three times return on equity.

How to calculate return on equity

Return on equity = net profit / shareholders equity * 100%

Real example of Houlihan Lokey Inc

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Houlihan Lokey Inc = 70,803
Shareholders equity (balance sheet) MRQ Houlihan Lokey Inc = 1,769,303
70,803 / 1,769,303 = 0.04 or 4.0%

A negative shareholder equity is a warning sign. It means the company has more liabilities than assets. It might also mean that the owners did not invest enough money or they are taking money out of the business.

1.2. Operating Efficiency of Houlihan Lokey Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Houlihan Lokey Inc is operating .

Measures how much profit Houlihan Lokey Inc makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
Above 15% is considered healthy but always compare Houlihan Lokey Inc to the Capital Markets industry mean.
An Operating Margin of 18.9% means the company generated $0.19 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Houlihan Lokey Inc:

The MRQ is 18.9%. The company is operating efficient. +1
The TTM is 19.1%. The company is operating efficient. +1

Trends

Current period		Compared to		+/-
MRQ	18.9%	TTM	19.1%	-0.2%
TTM	19.1%	YOY	19.0%	+0.0%
TTM	19.1%	5Y	22.0%	-3.0%
5Y	22.0%	10Y	21.0%	+1.0%

Compared to industry (Capital Markets)

Period	Company	Industry (mean)	+/-
MRQ	18.9%	15.5%	+3.4%
TTM	19.1%	11.4%	+7.7%
YOY	19.0%	18.4%	+0.6%
5Y	22.0%	10.0%	+12.0%
10Y	21.0%	10.2%	+10.8%

Measures how efficient Houlihan Lokey Inc is operating .

The more effecient a company creates products or provides services, the more profit it generates.

How to use operating margin

Higher is better
Above 15% is considered healthy but always compare Houlihan Lokey Inc to the Capital Markets industry mean.
Can be very different between industries
Can be used to compare companies

Why do investors use operating margin in their analysis

To determine how much profit Houlihan Lokey Inc is making from it’s core business.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Operating Margin of Houlihan Lokey Inc is 18.9%. This means that Houlihan Lokey Inc earned $0.19 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Capital Markets industry is 15.5%.
What is the trend?
The trend is important because it shows you how Houlihan Lokey Inc is performing over time. The most recent quarter might be important if Houlihan Lokey Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Houlihan Lokey Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Can be calculated in different ways

How to calculate operating margin

Operating margin = operating earnings / total revenue

Real example of Houlihan Lokey Inc

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Houlihan Lokey Inc = 96,540
Total revenue MRQ Houlihan Lokey Inc = 511,130
$96,540 / $511,130 = 0.19 or 18.9%

Operating margin is used to calculate how much profit a company makes after variable costs of production but before paying interest and taxes. Some variable costs examples are wages, raw materials, packaging, and transaction fees. The amount of variable costs is different for each company and industry. In general, a higher operating margin is better as this implicates that a company is running efficiently.

For investors, a higher operating margin is a good sign. Although you should always look at operating margin in the long term. If operating margin is fluctuating over the years this might be a sign that things are not running efficiently enough. It’s a way to check how much profit a company is making from its core business.

Operation earnings can be calculated in multiple ways:

Operation earnings = EBIT - non operating income + non operating expense
Operation earnings = Gross profit - operating expense - depreciation and amortisation
Operation earnings = Total revenue - COGS (costs of goods sold) - indirect costs

1.2.2. Operating Ratio

Measures how efficient Houlihan Lokey Inc is keeping operating costs low.

Below 1 is considered healthy (always compare to Capital Markets industry mean).
An Operation Ratio of 0.81 means that the operating costs are $0.81 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Houlihan Lokey Inc:

The MRQ is 0.811. The company is less efficient in keeping operating costs low.
The TTM is 0.809. The company is less efficient in keeping operating costs low.

Trends

Current period		Compared to		+/-
MRQ	0.811	TTM	0.809	+0.002
TTM	0.809	YOY	0.810	0.000
TTM	0.809	5Y	0.812	-0.003
5Y	0.812	10Y	0.806	+0.006

Compared to industry (Capital Markets)

Period	Company	Industry (mean)	+/-
MRQ	0.811	1.018	-0.207
TTM	0.809	1.001	-0.192
YOY	0.810	0.958	-0.148
5Y	0.812	0.932	-0.120
10Y	0.806	0.885	-0.079

Measures how efficient Houlihan Lokey Inc is keeping operating costs low.

If the operating ratio is below 1 that means the company is making money. The lower the operating ratio, the more efficient the company.

How to use operating ratio

Lower is better.
Below 1 is considered healthy but always compare Houlihan Lokey Inc to the Capital Markets industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use operating ratio in their analysis

Shows if costs of creating products and or services is increasing or decreasing. The lower the operating ratio, the more efficient the company is creating products and services.

The three steps every investor should look at:

What is the current Operatin ratio?
The current most recent quarter (MRQ) Operating Ratio of Houlihan Lokey Inc is 81.1%. This means that Houlihan Lokey Inc earned $0.81 for each $1 in net sales in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Ratio of the Capital Markets industry is 1.02.
What is the trend?
The trend is important because it shows you how Houlihan Lokey Inc is performing over time. The most recent quarter might be important if Houlihan Lokey Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Houlihan Lokey Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
You need COGS to calculate operating ratio which is not always shown in the income statement.
Does not consider debt.

How to calculate operating ratio

Operating ratio = Operating expenses + COGS \ Net sales

Real life example Houlihan Lokey Inc

You need the following data to determine operating ratio:

Income statement

COGS is not always specified on the income statement. If so you can use the following calculation:

(cost of revenue + total operating expenses) \ total revenue
(324,039 +90,551) \ 511,130 = 0.81

The operating ratio measures the efficiency of a company at keeping low costs while generating profits from sales. It compares the total operating expenses to the net amount of sales. The total operating expenses exists of:

COGS (materials, labour, rent of facility, repairs)
Operating expenses (legal fees, marketing, wages, rent, maintenance/repairs)

Operating expenses are all the costs the company makes that are not directly tied to the production of the service or product. Where COGS are costs that are directly tied to the production of a product or service.

Do note that COGS is not always available in the income statement. Some companies include COGS in the operating expenses while others list COGS separately. To make it even more confusing, COGS is also known as “costs of sales” and costs of sales is the same as costs of revenue.

The operating ratio tells you how efficient the company is creating its products or services while keeping prices low. In this case, a lower ratio is better. Higher or rising operating ratios might tell you that costs are rising while sales are not improving or staying the same.

1.3. Liquidity of Houlihan Lokey Inc.

1.3. Liquidity

1.3.1. Current Ratio

Measures if Houlihan Lokey Inc is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to Capital Markets industry mean).
A Current Ratio of 1.29 means the company has $1.29 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Houlihan Lokey Inc:

The MRQ is 1.286. The company is just able to pay all its short-term debts.
The TTM is 1.190. The company is just able to pay all its short-term debts.

Trends

Current period		Compared to		+/-
MRQ	1.286	TTM	1.190	+0.096
TTM	1.190	YOY	0.974	+0.216
TTM	1.190	5Y	1.229	-0.039
5Y	1.229	10Y	1.080	+0.148

Compared to industry (Capital Markets)

Period	Company	Industry (mean)	+/-
MRQ	1.286	1.969	-0.683
TTM	1.190	1.745	-0.555
YOY	0.974	1.811	-0.837
5Y	1.229	2.088	-0.859
10Y	1.080	2.063	-0.983

Measures if Houlihan Lokey Inc is able to pay off Short-term Debt.

How to use current ratio

Higher is better
Above 1.5 is considered healthy (always compare to Capital Markets industry mean).
Can be very different between industries
Can be used to compare companies

Why do investors use current ratio in their analysis

Shows if the company can pay of short term debts if needed. A company that can't pay off it's short term debts might get in trouble if they have to pay off their short term debts for whatever reason. For example, markets can change due to global events like covid-19 or the war in Ukraine versus Russia. Because debts are always taken based on future income, it might become troublesome for Houlihan Lokey Inc if something happens in the market that will cause sales to plummet.

The three steps every investor should look at:

What is the current current Ratio?
The current most recent quarter (MRQ) Current Ratio of Houlihan Lokey Inc is 1.29. This means Houlihan Lokey Inc has $1.29 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Capital Markets industry is 1.97.
What is the trend?
The trend is important because it shows you how Houlihan Lokey Inc is performing over time. The most recent quarter might be important if Houlihan Lokey Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Houlihan Lokey Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Might be deluded.
Not all assets can always be quickly sold.
Can be manipulated by increasing or decreasing the assets and/or liabilities.

How to calculate current ratio

Current ratio = current assets \ current liabilities

Real life example Houlihan Lokey Inc

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
921,068 \ 716,421) = 1.29

The current ratio measures if Houlihan Lokey Inc is able to pay short-term debts (obligations). Short term in this context means all debt obligations that are about to expire within one year. The current ratio incorporates current liabilities and current assets. Current assets are all the assets a company has that are expected to be consumed or sold within standard business operations. You can find the current assets in the balance sheet. They consist of:

Inventory
Accounts receivable
Marketable securities
Prepaid expenses
Cash
Cash equivalents
liquid assets

The current liabilities are short term obligations that are due within one year. These consist of:

Short term debts
Dividends
Income taxes
Short-term debts
Accounts payable
Interest payments

The result shows an investor if Houlihan Lokey Inc is able to pay all its short-term debts if they were due all at once. When the result of the above formula is below 1, then Houlihan Lokey Inc does not have enough capital after selling all its assets to pay all short-term debts. If the ratio drops far below 1 that might indicate Houlihan Lokey Inc is or will be in financial trouble anytime soon.

Although this gives an investor some clues, the current ratio may also be deluded. Because owning assets does not mean the company can easily sell them. Also, Accounts receivable may be quite old (they will probably never pay) which deludes the current ratio. As with all ratios, you should only compare them between the same industries and companies.

1.3.2. Quick Ratio

Measures if Houlihan Lokey Inc is able to pay off Short-term Debt but only using the most liquid assets.

Above 1 is considered healthy but always compare Houlihan Lokey Inc to the Capital Markets industry mean.
A Quick Ratio of 1.29 means the company can pay off $1.29 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Houlihan Lokey Inc:

The MRQ is 1.293. The company is able to pay all its short-term debts with the most liquid assets. +1
The TTM is 1.218. The company is just able to pay all its short-term debts with the most liquid assets.

Trends

Current period		Compared to		+/-
MRQ	1.293	TTM	1.218	+0.074
TTM	1.218	YOY	1.031	+0.188
TTM	1.218	5Y	1.356	-0.137
5Y	1.356	10Y	1.173	+0.182

Compared to industry (Capital Markets)

Period	Company	Industry (mean)	+/-
MRQ	1.293	1.596	-0.303
TTM	1.218	1.391	-0.173
YOY	1.031	1.324	-0.293
5Y	1.356	1.681	-0.325
10Y	1.173	1.596	-0.423

Measures if Houlihan Lokey Inc is able to pay off Short-term Debt but only using the most liquid assets.

How to use quick ratio

Higher is better.
Above 1 is considered healthy but always compare Houlihan Lokey Inc to the Capital Markets industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use quick ratio in their analysis

Shows how fast Houlihan Lokey Inc can pay off its short term debts. This shows if Houlihan Lokey Inc can survive emergencies due to market changes or other reasons.

The three steps every investor should look at:

What is the current Quick Ratio?
The current most recent quarter (MRQ) quickRatio of Houlihan Lokey Inc is 1.29. This means that Houlihan Lokey Inc can pay off $1.29 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the Capital Markets industry is 1.60.
What is the trend?
The trend is important because it shows you how Houlihan Lokey Inc is performing over time. The most recent quarter might be important if Houlihan Lokey Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Houlihan Lokey Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Incorporates only most liquid assets.

How to calculate quick ratio

Quick ratio = cash and equivalents + marketable securities + accounts receivable / current liabilities

Real life example Houlihan Lokey Inc

You need the following data to determine operating ratio:

Balance sheet
Quick ratio = cash and short-term investments + short-term investments + netReceivables / total current liabilities
MRQ quick ratio Houlihan Lokey Inc: (560,864 + 5,332 +359,831) / 716,421 = 1.29

The quick ratio measures the same thing as the current ratio, only it uses the most liquid assets a company has. Meaning, the assets that can be sold for cash the easiest and fastest.

As the quick ratio only incorporates the most liquid assets, you should also check the current ratio which also includes less liquid assets. But they may be harder to sell.

1.4. Solvency of Houlihan Lokey Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of Houlihan Lokey Inc assets are financed with debt.

Below 1 (100%) is considered healthy but always compare Houlihan Lokey Inc to Capital Markets industry mean.
A Debt to Asset Ratio of 0.40 means that Houlihan Lokey Inc assets are financed with 40.2% credit (debt) and the remaining percentage (100% - 40.2%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Houlihan Lokey Inc:

The MRQ is 0.402. The company is very able to pay all its debts by selling its assets. +2
The TTM is 0.416. The company is very able to pay all its debts by selling its assets. +2

Trends

Current period		Compared to		+/-
MRQ	0.402	TTM	0.416	-0.014
TTM	0.416	YOY	0.441	-0.025
TTM	0.416	5Y	0.399	+0.017
5Y	0.399	10Y	0.360	+0.040

Compared to industry (Capital Markets)

Period	Company	Industry (mean)	+/-
MRQ	0.402	0.621	-0.219
TTM	0.416	0.616	-0.200
YOY	0.441	0.609	-0.168
5Y	0.399	0.608	-0.209
10Y	0.360	0.611	-0.251

Measures how much % of Houlihan Lokey Inc assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake Houlihan Lokey Inc than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Houlihan Lokey Inc to Capital Markets industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to asset ratio in their analysis

It shows how much debt the company used to finance its assets. If a company is almost entirely financed with debt that means the company might get into serious trouble when emergencies arise like a raise in interest.

The three steps every investor should look at:

What is the current debt to asset ratio?
The current most recent quarter (MRQ) Debt to Asset Ratio of Houlihan Lokey Inc is 0.40. This means means that Houlihan Lokey Inc is financed with 40.2% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the Capital Markets industry is 196.9%.
What is the trend?
The trend is important because it shows you how Houlihan Lokey Inc is performing over time. The most recent quarter might be important if Houlihan Lokey Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Houlihan Lokey Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Some companies can have higher debt to assets ratio's (for example, banks).
Debt to asset ratio should improve over the years.
If the debt to asset ratio is above 1, look at the industry mean and find out why Houlihan Lokey Inc has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Houlihan Lokey Inc

You need the following data to determine debt to asset ratio:

Balance sheet
Debt to asset ratio = total debt \ total assets
1,189,605 \ 2,958,908 = 40.2% or 0.40.

The debt to total assets ratio shows if the company is owned by creditors or shareholders. Or in other words, the total debt in relation to the total amount of assets. It shows how much debt the company used to finance its assets.

1.4.2. Debt to Equity Ratio

Measures if Houlihan Lokey Inc is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare Houlihan Lokey Inc to the Capital Markets industry mean.
A Debt to Equity ratio of 67.2% means that company has $0.67 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Houlihan Lokey Inc:

The MRQ is 0.672. The company is very able to pay all its debts with equity. +2
The TTM is 0.715. The company is very able to pay all its debts with equity. +2

Trends

Current period		Compared to		+/-
MRQ	0.672	TTM	0.715	-0.043
TTM	0.715	YOY	0.797	-0.081
TTM	0.715	5Y	0.677	+0.039
5Y	0.677	10Y	0.581	+0.096

Compared to industry (Capital Markets)

Period	Company	Industry (mean)	+/-
MRQ	0.672	1.558	-0.886
TTM	0.715	1.589	-0.874
YOY	0.797	1.580	-0.783
5Y	0.677	1.556	-0.879
10Y	0.581	1.741	-1.160

Measures if Houlihan Lokey Inc is able to pay off its debts by using shareholders equity.

How to use debt to equity ratio

Lower is better.
Below 2 is considered healthy (always use industry average).
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to shareholders equity ratio in their analysis

It shows how much debt the company uses to finance their operations. Shareholders equity is whats left over when you subtract total liabilities from total assets. It's another way to meassure how much of Houlihan Lokey Inc is financed with debt or own resources.

The three steps every investor should look at:

What is the current debt to equity ratio?
The current most recent quarter (MRQ) quickRatio of Houlihan Lokey Inc is 0.67. This means that Houlihan Lokey Inc can pay off $0.67 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Capital Markets industry is 1.56.
What is the trend?
The trend is important because it shows you how Houlihan Lokey Inc is performing over time. The most recent quarter might be important if Houlihan Lokey Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Houlihan Lokey Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Not all debt is equally risky (for example, short term risk is less risky).

How to calculate debt to equity ratio

Debt to equity ratio = total debt \ shareholders equity.

Real life example Houlihan Lokey Inc

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
1,189,605 \ 1,769,303 = 0.67 or 67.2%

Debt to equity measures the total debt versus the total shareholders equity. While the total debts to total assets ratio uses total assets, the debt to equity ratio looks at the total equity of shareholders. Where equity of shareholders are:

Common shares.
Preferred shares.
Retained earnings.

You can find the shareholders' equity in the balance sheet. A ratio between 0,5 and 1,5 is preferred. If the ratio is above 1.5, that would indicate creditors have significantly more stake (debt) in the company than the shareholders. In other words, the company is using a lot of debt to finance their operations.

Not all debt is equally risky. Meaning you can adjust the ratio by including or excluding certain amounts of debt. Short term debts are less risky because they have to be paid back within one year anyway. It’s much easier to plan one year ahead versus five or ten years.

2. Market Valuation of Houlihan Lokey Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Houlihan Lokey Inc generates.

Above 15 is considered overpriced but always compare Houlihan Lokey Inc to the Capital Markets industry mean.
A PE ratio of 28.74 means the investor is paying $28.74 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Houlihan Lokey Inc:

The EOD is 29.335. Based on the earnings, the company is overpriced. -1
The MRQ is 28.743. Based on the earnings, the company is overpriced. -1
The TTM is 27.013. Based on the earnings, the company is overpriced. -1

Trends

Current period		Compared to		+/-
EOD	29.335	MRQ	28.743	+0.592
MRQ	28.743	TTM	27.013	+1.730
TTM	27.013	YOY	21.916	+5.096
TTM	27.013	5Y	19.290	+7.723
5Y	19.290	10Y	16.434	+2.856

Compared to industry (Capital Markets)

Period	Company	Industry (mean)	+/-
EOD	29.335	7.365	+21.970
MRQ	28.743	7.181	+21.562
TTM	27.013	6.690	+20.323
YOY	21.916	9.157	+12.759
5Y	19.290	10.759	+8.531
10Y	16.434	11.403	+5.031

Measures how much money you pay for each share for every $1 in earnings Houlihan Lokey Inc generates.

Indicates if the company’s shares are under or overvalued.

How to use PE ratio

Above 15 is considered overpriced but is hard to determine. Always compare Houlihan Lokey Inc to the Capital Markets industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use PE ratio in their analysis

The PE ratio tells investors the current sentiment in the market for that company. As with every stock, the stock price never shows the real valuation of a company but rather how the market thinks how much the stock is worth.

In other words, the current stock price also incorporates any future earnings or business opportunities in the future. The best example is the stock market crash in 2000. The PE ratio for any internet based company was going through the roof. Only based on the general assumption the internet and all associated businesses would thrive in the future. But this was based on nothing. A business still needs a good product or service to be able to survive. Instead, every investor bought any stock which did something related to the internet. Result: huge market crash.

Many investors were willing to pay premium prices and that was causing the PE ratio to rise. A high PE ratio is a warning sign that investors might be overvaluing a stock based on future earnings.

The three steps every investor should look at:

What is the current PE Ratio?
The current most recent quarter (MRQ) PE Ratio of Houlihan Lokey Inc is 28.74. This means the investor is paying $28.74 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Capital Markets industry is 7.18.
What is the trend?
The trend is important because it shows you how Houlihan Lokey Inc is performing over time. The most recent quarter might be important if Houlihan Lokey Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Houlihan Lokey Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Some industries might have very high or very low PE ratios in general.
PE ratios can be high for several years, it does not mean a sudden collapse is imminent.
Earnings growth is not included in the PE ratio.

How to calculate PE ratio

PE ratio = market value per share \ earnings per share

Real life example Houlihan Lokey Inc

You need the following data to determine the PE ratio:

Balance sheet
Income statement

The PE ratio is a very commonly used ratio to determine the value of a company by comparing the current stock price relative to its earnings per share (EPS). Before we can calculate the PE ratio we need to know the EPS. EPS is calculated as follows:

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
0 \ 67,886 = EPS
PE ratio MRQ = 28.74

* The net profit minus preferred dividends can be found in the incomestatement as netIncomeApplicableToCommonShares.

The PE value helps investors to determine if the current stock price is under or overvalued. It also projects future growth.

In general, a higher PE ratio means that investors predict higher future growth. If the PE ratio is too high, then investors expect way too much future growth the company can never fulfil. This is most likely to happen in faster moving companies like tech companies or automobile companies like Tesla. These are hot and booming markets where investors expect much future growth driven by new technology (electric cars). When looking at the current MRQ (most recent quarter) PE ratio of Tesla ( jan. 2021) it's about 247 while the average in the industry is only 6. That might be a clue that Tesla is trading for way too high prices compared to their current assets and is more based on future growth.

2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Houlihan Lokey Inc:

The EOD is 24.345. Based on how much money comes from the company's main activities, the company is underpriced. +1
The MRQ is 23.853. Based on how much money comes from the company's main activities, the company is underpriced. +1
The TTM is 8.901. Based on how much money comes from the company's main activities, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	24.345	MRQ	23.853	+0.491
MRQ	23.853	TTM	8.901	+14.953
TTM	8.901	YOY	14.144	-5.243
TTM	8.901	5Y	6.798	+2.103
5Y	6.798	10Y	5.082	+1.716

Compared to industry (Capital Markets)

Period	Company	Industry (mean)	+/-
EOD	24.345	0.580	+23.765
MRQ	23.853	0.678	+23.175
TTM	8.901	0.142	+8.759
YOY	14.144	0.355	+13.789
5Y	6.798	-0.128	+6.926
10Y	5.082	-0.063	+5.145

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of Houlihan Lokey Inc is to cheap or to expensive compared to its book value.

At or below 1 is considered healthy (always compare to Capital Markets industry mean).
A PB ratio of 4.60 means the investor is paying $4.60 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Houlihan Lokey Inc:

The EOD is 4.696. Based on the equity, the company is fair priced.
The MRQ is 4.601. Based on the equity, the company is fair priced.
The TTM is 4.204. Based on the equity, the company is fair priced.

Trends

Current period		Compared to		+/-
EOD	4.696	MRQ	4.601	+0.095
MRQ	4.601	TTM	4.204	+0.397
TTM	4.204	YOY	3.879	+0.325
TTM	4.204	5Y	3.768	+0.436
5Y	3.768	10Y	2.933	+0.835

Compared to industry (Capital Markets)

Period	Company	Industry (mean)	+/-
EOD	4.696	1.024	+3.672
MRQ	4.601	0.954	+3.647
TTM	4.204	0.953	+3.251
YOY	3.879	1.226	+2.653
5Y	3.768	1.277	+2.491
10Y	2.933	1.431	+1.502

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Houlihan Lokey Inc.

3.1. Institutions holding Houlihan Lokey Inc

Institutions are holding 107.17% of the shares of Houlihan Lokey Inc.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	BlackRock Inc	7.6822	0.0162	5309339	2262880	74.279
2023-12-31	Vanguard Group Inc	7.3421	0.0133	5074300	143560	2.9115
2023-12-31	Earnest Partners LLC	4.6738	1.934	3230161	106910	3.423
2023-12-31	Kayne Anderson Rudnick Investment Management LLC	4.0308	0.8358	2785812	25668	0.93
2023-12-31	Wellington Management Company LLP	3.2136	0.0497	2221017	-502670	-18.4555
2023-12-31	FMR Inc	2.5924	0.0165	1791698	284088	18.8436
2023-12-31	Burgundy Asset Management Ltd	2.4807	2.2804	1714480	46443	2.7843
2023-12-31	State Street Corporation	2.1878	0.0088	1512010	636333	72.6675
2023-12-31	T. Rowe Price Investment Management,Inc.	1.9487	0.105	1346823	-9589	-0.7069
2023-12-31	BAMCO Inc	1.879	0.4147	1298610	-967	-0.0744
2023-12-31	Fiduciary Management, Inc. of Milwaukee	1.7299	1.341	1195597	39705	3.435
2023-12-31	Ameriprise Financial Inc	1.6755	0.0416	1157947	59513	5.418
2023-12-31	ClearBridge Advisors, LLC	1.5835	0.1129	1094417	-85078	-7.2131
2023-12-31	Neuberger Berman Group LLC	1.4964	0.1081	1034226	-9618	-0.9214
2023-12-31	Bank of America Corp	1.4747	0.0123	1019228	2697	0.2653
2023-12-31	Thrivent Financial For Lutherans	1.438	0.2597	993832	45717	4.8219
2023-12-31	Geode Capital Management, LLC	1.2282	0.0107	848847	49465	6.1879
2023-12-31	AllianceBernstein L.P.	1.2079	0.0385	834811	-776940	-48.2047
2023-12-31	Van Berkom and Associates Inc	1.1544	2.7829	797863	-69173	-7.9781
2023-12-31	Capital Research & Mgmt Co - Division 3	1.1461	0.0213	792073	286746	56.7446
Total		52.1657	10.4034	36053091	+2535690	+7.0%

3.2. Funds holding Houlihan Lokey Inc

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	AF High Growth (AFRIS)	7.2825	0.0648	5033120	5033120	0
2024-02-29	Global Balanced (AFRIS)	3.3408	0.1424	2308929	2308929	0
2024-02-29	Vanguard Total Stock Mkt Idx Inv	2.3546	0.0135	1627353	-3612	-0.2215
2024-02-29	iShares Core S&P Mid-Cap ETF	2.2734	0.2508	1571235	-4513	-0.2864
2024-02-29	Vanguard Small Cap Index	1.9252	0.1218	1330520	12431	0.9431
2023-12-31	Vanguard Explorer Inv	1.7027	0.6599	1176758	-302662	-20.4582
2023-12-31	T. Rowe Price Small-Cap Value	1.1895	0.9321	822123	-12200	-1.4623
2024-02-29	Vanguard Institutional Extnd Mkt Idx Tr	1.1057	0.0964	764179	1636	0.2145
2024-02-29	Vanguard Small Cap Growth Index Inv	1.0793	0.275	745938	11096	1.51
2023-12-31	Virtus KAR Mid-Cap Core I	1.0456	3.7726	722675	63344	9.6073
2024-02-29	EARNEST Partners Smid Cap Core Founders	0.993	2.5566	686289	-1570	-0.2282
2023-12-31	Neuberger Berman Genesis Inv	0.9915	0.7987	685267	-1596	-0.2324
2024-02-29	AF Global Equity (AFRIS)	0.9554	0.349	660282	660282	0
2023-12-31	Harbor Small Cap Value Instl	0.9097	3.5978	628693	-62204	-9.0034
2023-12-31	Baron Opp. Small Cap Growth Strategy	0.9043	1.6205	625000	0	0
2023-12-31	Baron Small Cap Retail	0.9043	1.6227	625000	0	0
2023-12-31	FMI Common Stock Investor	0.7813	3.6645	540000	40000	8
2023-12-31	Baron Growth Retail	0.6511	0.6827	450000	0	0
2023-12-31	Baron Small Cap Growth Strategy	0.6511	0.6858	450000	0	0
Total		31.041	21.9076	21453361	+7742481	+36.1%

3.3. Insider Transactions

Insiders are holding 0.129% of the shares of Houlihan Lokey Inc.

Date	Owner	Type	Amount	Price
2024-03-01	Christopher M. Crain	SELL	1000	128.94
2023-12-27	Irwin Gold	SELL	10000	122.18
2023-12-19	Christopher M. Crain	SELL	1500	120.12
2023-12-01	Christopher M. Crain	SELL	1000	107.17
2023-11-30	J Lindsey Alley	SELL	10000	107.48
2023-11-03	Scott L. Beiser	SELL	9084	105.78
2023-08-16	Christopher M. Crain	SELL	1000	100.66
2023-06-07	Irwin Gold	SELL	10000	91.23
2023-06-05	Christopher M. Crain	SELL	1000	90.74
2023-06-02	Irwin Gold	SELL	5389	90.09

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Houlihan Lokey Inc compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	1.808	0.992	+82%	-0.076	+104%	0.656	+176%	0.652	+178%
Book Value Per Share	-	-	26.063	24.494	+6%	21.204	+23%	19.608	+33%	15.708	+66%
Current Ratio	-	-	1.286	1.190	+8%	0.974	+32%	1.229	+5%	1.080	+19%
Debt To Asset Ratio	-	-	0.402	0.416	-3%	0.441	-9%	0.399	+1%	0.360	+12%
Debt To Equity Ratio	-	-	0.672	0.715	-6%	0.797	-16%	0.677	-1%	0.581	+16%
Dividend Per Share	-	-	0.523	0.534	-2%	0.491	+7%	0.410	+28%	0.312	+68%
Eps	-	-	1.043	0.952	+10%	0.942	+11%	1.053	-1%	0.764	+36%
Free Cash Flow Per Share	-	-	1.257	0.984	+28%	-0.257	+120%	1.654	-24%	1.192	+5%
Free Cash Flow To Equity Per Share	-	-	0.732	0.075	+871%	-1.561	+313%	0.840	-13%	0.608	+20%
Gross Profit Margin	-	-	1.000	1.000	0%	1.000	0%	1.000	0%	1.000	0%
Intrinsic Value_10Y_max	-	-	-109.853	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	-88.393	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	4.921	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	4.843	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	2.646	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	2.771	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	-14.265	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	-12.196	-	-	-	-	-	-	-	-
Market Cap	6378347696.000	-28%	8140246352.910	7013510214.000	+16%	5673643769.585	+43%	5117606581.123	+59%	3355881700.471	+143%
Net Profit Margin	-	-	0.139	0.141	-2%	0.142	-3%	0.169	-18%	0.149	-7%
Operating Margin	-	-	0.189	0.191	-1%	0.190	-1%	0.220	-14%	0.210	-10%
Operating Ratio	-	-	0.811	0.809	+0%	0.810	+0%	0.812	0%	0.806	+1%
Pb Ratio	4.696	+2%	4.601	4.204	+9%	3.879	+19%	3.768	+22%	2.933	+57%
Pe Ratio	29.335	+2%	28.743	27.013	+6%	21.916	+31%	19.290	+49%	16.434	+75%
Price Per Share	122.380	+2%	119.910	103.208	+16%	82.318	+46%	75.221	+59%	49.683	+141%
Price To Free Cash Flow Ratio	24.345	+2%	23.853	8.901	+168%	14.144	+69%	6.798	+251%	5.082	+369%
Price To Total Gains Ratio	52.489	+2%	51.430	101.954	-50%	-85.537	+266%	67.940	-24%	67.262	-24%
Quick Ratio	-	-	1.293	1.218	+6%	1.031	+25%	1.356	-5%	1.173	+10%
Return On Assets	-	-	0.024	0.023	+5%	0.025	-4%	0.032	-25%	0.029	-18%
Return On Equity	-	-	0.040	0.039	+3%	0.044	-10%	0.054	-25%	0.047	-14%
Total Gains Per Share	-	-	2.332	1.526	+53%	0.415	+462%	1.066	+119%	0.964	+142%
Usd Book Value	-	-	1769303000.000	1664682250.000	+6%	1462148250.000	+21%	1333236950.000	+33%	1044095200.000	+69%
Usd Book Value Change Per Share	-	-	1.808	0.992	+82%	-0.076	+104%	0.656	+176%	0.652	+178%
Usd Book Value Per Share	-	-	26.063	24.494	+6%	21.204	+23%	19.608	+33%	15.708	+66%
Usd Dividend Per Share	-	-	0.523	0.534	-2%	0.491	+7%	0.410	+28%	0.312	+68%
Usd Eps	-	-	1.043	0.952	+10%	0.942	+11%	1.053	-1%	0.764	+36%
Usd Free Cash Flow	-	-	85316000.000	66926000.000	+27%	-17544500.000	+121%	112812000.000	-24%	79006900.000	+8%
Usd Free Cash Flow Per Share	-	-	1.257	0.984	+28%	-0.257	+120%	1.654	-24%	1.192	+5%
Usd Free Cash Flow To Equity Per Share	-	-	0.732	0.075	+871%	-1.561	+313%	0.840	-13%	0.608	+20%
Usd Market Cap	6378347696.000	-28%	8140246352.910	7013510214.000	+16%	5673643769.585	+43%	5117606581.123	+59%	3355881700.471	+143%
Usd Price Per Share	122.380	+2%	119.910	103.208	+16%	82.318	+46%	75.221	+59%	49.683	+141%
Usd Profit	-	-	70803000.000	64721000.000	+9%	64934000.000	+9%	71655550.000	-1%	50960925.000	+39%
Usd Revenue	-	-	511130000.000	459678750.000	+11%	458961500.000	+11%	422477550.000	+21%	326127500.000	+57%
Usd Total Gains Per Share	-	-	2.332	1.526	+53%	0.415	+462%	1.066	+119%	0.964	+142%
	EOD	+2 -6	MRQ	TTM	+25 -10	YOY	+26 -9	5Y	+16 -19	10Y	+23 -12

4.2. Fundamental Score

Let's check the fundamental score of Houlihan Lokey Inc based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	29.335
Price to Book Ratio (EOD)	Between	0-1	4.696
Net Profit Margin (MRQ)	Greater than	0	0.139
Operating Margin (MRQ)	Greater than	0	0.189
Quick Ratio (MRQ)	Greater than	1	1.293
Current Ratio (MRQ)	Greater than	1	1.286
Debt to Asset Ratio (MRQ)	Less than	1	0.402
Debt to Equity Ratio (MRQ)	Less than	1	0.672
Return on Equity (MRQ)	Greater than	0.15	0.040
Return on Assets (MRQ)	Greater than	0.05	0.024
Total			6/10 (60.0%)

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4.3. Technical Score

Let's check the technical score of Houlihan Lokey Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	37.263
Ma 20	Greater than	Ma 50	127.139
Ma 50	Greater than	Ma 100	126.952
Ma 100	Greater than	Ma 200	122.143
Open	Greater than	Close	123.470
Total			4/5 (80.0%)

Create your own Symbol Scanner

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Latest Balance Sheet

Balance Sheet of 2023-12-31. Currency in USD. All numbers in thousands.

Summary

Total Assets	2,958,908
Total Liabilities	1,189,605
Total Stockholder Equity	1,769,303

	As reported
Total Liabilities	1,189,605
Total Stockholder Equity	+ 1,769,303
Total Assets	= 2,958,908

Assets

Total Assets	2,958,908
Total Current Assets	921,068
Long-term Assets	2,037,840

Total Current Assets

Total Current Assets (as reported)	921,068
Cash And Cash Equivalents	555,532
Short-term Investments	5,332
Net Receivables	359,831
Inventory	945,631
Other Current Assets	-945,258
Total Current Assets (calculated)	921,068
+/-	0

Long-term Assets

Long-term Assets (as reported)	2,037,840
Property Plant Equipment	487,291
Goodwill	1,128,610
Long Term Investments	30,035
Intangible Assets	199,941
Long-term Assets Other	88,491
Long-term Assets (calculated)	1,934,368
+/-	103,472

Liabilities & Shareholders' Equity

Total Current Liabilities	716,421
Long-term Liabilities	473,184
Total Stockholder Equity	1,769,303

Total Current Liabilities

Total Current Liabilities (as reported)	716,421
Short-term Debt	4,788
Accounts payable	100,319
Other Current Liabilities	570,300
Total Current Liabilities (calculated)	675,407
+/-	41,014

Long-term Liabilities

Long-term Liabilities (as reported)	473,184
Capital Lease Obligations	420,107
Long-term Liabilities Other	49,808
Long-term Liabilities (calculated)	469,915
+/-	3,269

Total Stockholder Equity

Total Stockholder Equity (as reported)	1,769,303
Common Stock	69
Retained Earnings	1,121,387
Accumulated Other Comprehensive Income	-54,149
Other Stockholders Equity	701,996
Total Stockholder Equity (calculated)	1,769,303
+/-	0

Other

Capital Stock	69
Cash and Short Term Investments	560,864
Common Stock Shares Outstanding	67,886
Current Deferred Revenue	41,014
Liabilities and Stockholders Equity	2,958,908
Net Debt	-135,425
Net Invested Capital	1,769,303
Net Working Capital	204,647
Property Plant and Equipment Gross	556,785
Short Long Term Debt Total	420,107

Balance Sheet

Currency in USD. All numbers in thousands.

Trend

2023-12-31

2023-09-30

2023-06-30

2023-03-31

2022-12-31

2022-09-30

2022-06-30

2022-03-31

2021-12-31

2021-09-30

2021-06-30

2021-03-31

2020-12-31

2020-09-30

2020-06-30

2020-03-31

2019-12-31

2019-09-30

2019-06-30

2019-03-31

2018-12-31

2018-09-30

2018-06-30

2018-03-31

2017-12-31

2017-09-30

2017-06-30

2017-03-31

2016-12-31

2016-09-30

2016-06-30

2016-03-31

2015-12-31

2015-09-30

2015-06-30

2015-03-31

2014-12-31

2014-09-30

2014-06-30

2014-03-31

> Total Assets

1,061,226
968,076
0
0
1,229,848
1,108,895
981,003
1,026,175
1,070,884
986,469
1,008,000
1,093,454
1,382,379
1,080,476
1,168,681
1,197,618
1,418,841
1,147,277
1,220,406
1,260,170
1,423,058
1,392,900
1,447,900
1,538,630
1,677,003
1,698,683
1,835,543
2,119,799
2,426,067
2,149,079
2,356,829
3,045,762
2,886,810
2,435,864
2,510,199
2,671,642
2,968,814
2,706,821
2,781,553
2,958,908

2,958,908

2,781,553

2,706,821

2,968,814

2,671,642

2,510,199

2,435,864

2,886,810

3,045,762

2,356,829

2,149,079

2,426,067

2,119,799

1,835,543

1,698,683

1,677,003

1,538,630

1,447,900

1,392,900

1,423,058

1,260,170

1,220,406

1,147,277

1,418,841

1,197,618

1,168,681

1,080,476

1,382,379

1,093,454

1,008,000

986,469

1,070,884

1,026,175

981,003

1,108,895

1,229,848

968,076

1,061,226

> Total Current Assets

0
0
0
0
516,618
377,298
253,910
269,638
310,181
222,962
250,498
336,789
623,199
293,264
333,499
291,849
432,076
271,062
333,686
359,821
597,420
358,002
351,536
407,477
505,761
522,645
553,401
766,075
1,073,748
961,117
1,166,388
1,341,392
1,082,850
729,965
795,305
849,739
1,029,579
714,915
802,881
921,068

921,068

802,881

714,915

1,029,579

849,739

795,305

729,965

1,082,850

1,341,392

1,166,388

961,117

1,073,748

766,075

553,401

522,645

505,761

407,477

351,536

358,002

597,420

359,821

333,686

271,062

432,076

291,849

333,499

293,264

623,199

336,789

250,498

222,962

310,181

269,638

253,910

377,298

516,618

Cash And Cash Equivalents

109,420
72,214
0
0
88,662
97,687
97,777
131,927
166,169
105,972
156,067
253,605
300,314
183,221
245,356
197,178
206,723
144,244
227,599
256,401
285,746
211,731
220,248
276,735
380,373
422,164
421,967
633,659
846,851
782,194
923,009
1,058,603
833,697
488,949
503,806
549,422
714,439
456,116
493,929
555,532

555,532

493,929

456,116

714,439

549,422

503,806

488,949

833,697

1,058,603

923,009

782,194

846,851

633,659

421,967

422,164

380,373

276,735

220,248

211,731

285,746

256,401

227,599

144,244

206,723

197,178

245,356

183,221

300,314

253,605

156,067

105,972

166,169

131,927

97,777

97,687

88,662

72,214

109,420

Short-term Investments

0
0
0
0
0
0
0
0
0
0
0
0
192,372
19,075
60,558
132,835
209,319
15,657
26,565
40,960
125,258
5,985
84,822
91,195
135,389
94,168
148,006
203,982
208,618
47,856
40,425
39,829
109,143
35,587
35,742
36,775
6,254
33,860
31,214
5,332

5,332

31,214

33,860

6,254

36,775

35,742

35,587

109,143

39,829

40,425

47,856

208,618

203,982

148,006

94,168

135,389

91,195

84,822

5,985

125,258

40,960

26,565

15,657

209,319

132,835

60,558

19,075

192,372

Net Receivables

260,407
0
0
0
427,956
279,611
156,133
137,711
144,012
116,990
94,431
83,184
129,313
110,043
88,143
94,671
131,853
126,452
105,721
103,052
151,352
139,915
130,916
130,369
125,015
100,108
131,061
132,043
226,524
178,550
243,006
282,416
248,780
240,643
291,126
299,944
314,767
258,426
308,579
359,831

359,831

308,579

258,426

314,767

299,944

291,126

240,643

248,780

282,416

243,006

178,550

226,524

132,043

131,061

100,108

125,015

130,369

130,916

139,915

151,352

103,052

105,721

126,452

131,853

94,671

88,143

110,043

129,313

83,184

94,431

116,990

144,012

137,711

156,133

279,611

427,956

260,407

Other Current Assets

0
0
0
0
0
0
0
0
0
0
0
0
192,372
10,000
12,981
11,439
-193,078
366
366
368
89,492
371
372
373
373
373
373
373
373
373
-40,052
373
373
-35,214
-35,369
373
-1,058,448
-738,155
-828,791
-945,258

-945,258

-828,791

-738,155

-1,058,448

373

-35,369

-35,214

373

-40,052

373

372

371

89,492

368

366

-193,078

11,439

12,981

10,000

192,372

> Long-term Assets

0
0
0
0
713,230
731,597
727,093
756,537
760,703
763,507
757,502
756,665
759,180
787,212
835,182
905,769
986,765
876,215
886,720
900,349
825,638
1,034,898
1,096,364
1,131,153
1,171,242
1,176,038
1,282,142
1,353,724
1,352,319
1,187,962
1,190,441
1,704,370
1,803,960
1,705,899
1,714,894
1,821,903
1,939,235
1,991,906
1,978,672
2,037,840

2,037,840

1,978,672

1,991,906

1,939,235

1,821,903

1,714,894

1,705,899

1,803,960

1,704,370

1,190,441

1,187,962

1,352,319

1,353,724

1,282,142

1,176,038

1,171,242

1,131,153

1,096,364

1,034,898

825,638

900,349

886,720

876,215

986,765

905,769

835,182

787,212

759,180

756,665

757,502

763,507

760,703

756,537

727,093

731,597

713,230

Property Plant Equipment

15,967
15,827
0
0
16,489
16,407
16,851
18,277
21,701
27,933
27,715
30,329
30,416
32,107
33,083
32,171
32,146
31,871
31,699
30,865
31,034
168,004
172,714
170,959
177,612
195,304
193,096
191,534
198,401
191,807
186,636
213,747
224,118
218,758
230,497
331,349
422,222
480,487
483,113
487,291

487,291

483,113

480,487

422,222

331,349

230,497

218,758

224,118

213,747

186,636

191,807

198,401

191,534

193,096

195,304

177,612

170,959

172,714

168,004

31,034

30,865

31,699

31,871

32,146

32,171

33,083

32,107

30,416

30,329

27,715

27,933

21,701

18,277

16,851

16,407

16,489

15,827

15,967

Goodwill

445,532
445,778
0
0
455,550
475,687
490,490
515,436
518,679
515,905
515,505
512,265
519,487
522,186
526,547
527,047
528,889
597,475
596,390
594,001
594,812
605,026
600,578
626,519
618,455
618,955
664,248
670,200
671,065
671,951
679,323
1,082,934
1,070,442
1,062,408
1,051,294
1,060,666
1,087,784
1,090,597
1,086,438
1,128,610

1,128,610

1,086,438

1,090,597

1,087,784

1,060,666

1,051,294

1,062,408

1,070,442

1,082,934

679,323

671,951

671,065

670,200

664,248

618,955

618,455

626,519

600,578

605,026

594,812

594,001

596,390

597,475

528,889

527,047

526,547

522,186

519,487

512,265

515,505

515,905

518,679

515,436

490,490

475,687

455,550

445,778

445,532

Long Term Investments

14,253
0
0
0
12,666
0
2,265
4,487
0
0
0
0
0
19,075
60,558
132,835
209,319
15,657
26,565
40,960
125,258
27,055
27,515
27,355
30,087
29,320
30,279
234,576
208,618
47,856
40,425
39,829
109,143
35,587
35,742
36,775
37,309
33,860
31,214
30,035

30,035

31,214

33,860

37,309

36,775

35,742

35,587

109,143

39,829

40,425

47,856

208,618

234,576

30,279

29,320

30,087

27,355

27,515

27,055

125,258

40,960

26,565

15,657

209,319

132,835

60,558

19,075

4,487

2,265

12,666

14,253

Intangible Assets

642,722
642,629
0
0
197,256
196,878
198,445
199,871
198,689
197,611
196,643
195,887
195,856
195,433
194,987
194,642
194,421
204,596
202,932
201,250
199,792
198,815
196,986
196,213
194,389
193,400
197,410
196,238
195,156
194,092
204,641
263,493
247,333
230,944
214,598
204,845
203,370
200,151
196,652
199,941

199,941

196,652

200,151

203,370

204,845

214,598

230,944

247,333

263,493

204,641

194,092

195,156

196,238

197,410

193,400

194,389

196,213

196,986

198,815

199,792

201,250

202,932

204,596

194,421

194,642

194,987

195,433

195,856

195,887

196,643

197,611

198,689

199,871

198,445

196,878

197,256

642,629

642,722

Long-term Assets Other

0
0
0
0
29,540
26,682
-20,696
-21,463
21,634
22,058
17,639
18,184
17,949
-15,456
-11,609
-6,844
21,990
10,504
18,986
23,930
-125,000
29,941
34,725
38,657
38,890
39,874
43,956
51,612
50,747
48,929
43,015
64,792
57,646
56,247
70,671
75,542
83,609
77,821
74,912
88,491

88,491

74,912

77,821

83,609

75,542

70,671

56,247

57,646

64,792

43,015

48,929

50,747

51,612

43,956

39,874

38,890

38,657

34,725

29,941

-125,000

23,930

18,986

10,504

21,990

-6,844

-11,609

-15,456

17,949

18,184

17,639

22,058

21,634

-21,463

-20,696

26,682

29,540

> Total Liabilities

346,288
220,428
0
0
403,960
262,021
366,270
389,213
417,329
307,168
311,768
371,119
651,924
315,541
378,516
369,007
566,028
327,922
392,100
409,503
531,729
499,581
556,036
591,937
692,621
489,043
584,931
765,533
1,042,506
764,481
919,092
1,516,346
1,443,105
1,018,301
1,063,531
1,130,985
1,340,517
1,091,768
1,135,477
1,189,605

1,189,605

1,135,477

1,091,768

1,340,517

1,130,985

1,063,531

1,018,301

1,443,105

1,516,346

919,092

764,481

1,042,506

765,533

584,931

489,043

692,621

591,937

556,036

499,581

531,729

409,503

392,100

327,922

566,028

369,007

378,516

315,541

651,924

371,119

311,768

307,168

417,329

389,213

366,270

262,021

403,960

220,428

346,288

> Total Current Liabilities

0
0
0
0
351,299
203,557
254,873
262,444
294,005
169,964
219,910
287,017
386,774
255,200
321,548
321,587
432,260
279,327
348,618
368,211
525,926
306,575
368,016
399,201
501,039
288,196
360,433
548,332
812,074
549,781
689,434
1,194,374
1,169,813
776,328
823,101
799,196
919,993
604,006
685,168
716,421

716,421

685,168

604,006

919,993

799,196

823,101

776,328

1,169,813

1,194,374

689,434

549,781

812,074

548,332

360,433

288,196

501,039

399,201

368,016

306,575

525,926

368,211

348,618

279,327

432,260

321,587

321,548

255,200

386,774

287,017

219,910

169,964

294,005

262,444

254,873

203,557

351,299

Short-term Debt

0
0
0
0
9,760
16,296
26,227
25,012
76,620
0
0
7,454
4,937
6,984
967
386
9,967
17,239
7,941
3,457
654
3,410
0
3,758
0
0
0
19,851
68,339
58,783
164,209
374,528
197,091
188,039
188,937
3,560
31,617
25,954
12,980
4,788

4,788

12,980

25,954

31,617

3,560

188,937

188,039

197,091

374,528

164,209

58,783

68,339

19,851

3,758

3,410

654

3,457

7,941

17,239

9,967

386

967

6,984

4,937

7,454

76,620

25,012

26,227

16,296

9,760

Short Long Term Debt

0
0
0
0
0
0
0
0
76,620
0
0
0
15,000
17,503
967
386
989
650
595
294
654
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

654

294

595

650

989

386

967

17,503

15,000

76,620

Accounts payable

35,560
25,972
0
0
37,190
34,529
40,152
35,924
34,400
29,541
31,611
39,608
41,655
39,391
39,735
36,717
40,772
41,247
41,183
45,159
55,048
41,414
40,911
45,391
53,883
37,233
42,006
55,035
67,468
70,259
60,273
123,395
126,190
98,644
98,182
119,974
113,421
91,100
95,125
100,319

100,319

95,125

91,100

113,421

119,974

98,182

98,644

126,190

123,395

60,273

70,259

67,468

55,035

42,006

37,233

53,883

45,391

40,911

41,414

55,048

45,159

41,183

41,247

40,772

36,717

39,735

39,391

41,655

39,608

31,611

29,541

34,400

35,924

40,152

34,529

37,190

25,972

35,560

Other Current Liabilities

247,746
128,740
0
0
301,285
149,072
185,445
196,736
254,058
135,810
180,700
233,104
336,465
199,644
276,690
281,080
377,901
189,688
268,548
291,073
470,878
232,532
297,396
322,156
420,376
222,393
288,767
436,438
648,399
390,894
438,029
669,132
1,014,870
453,842
500,500
635,086
734,260
447,510
539,693
570,300

570,300

539,693

447,510

734,260

635,086

500,500

453,842

1,014,870

669,132

438,029

390,894

648,399

436,438

288,767

222,393

420,376

322,156

297,396

232,532

470,878

291,073

268,548

189,688

377,901

281,080

276,690

199,644

336,465

233,104

180,700

135,810

254,058

196,736

185,445

149,072

301,285

128,740

247,746

> Long-term Liabilities

0
0
0
0
52,661
58,464
111,397
126,769
123,324
137,204
91,858
84,102
265,150
60,341
56,968
47,420
133,768
48,595
43,482
41,292
8,657
193,006
188,020
192,736
191,582
200,847
224,498
217,201
230,432
214,700
229,658
321,972
273,292
241,973
240,430
331,789
420,524
487,762
450,309
473,184

473,184

450,309

487,762

420,524

331,789

240,430

241,973

273,292

321,972

229,658

214,700

230,432

217,201

224,498

200,847

191,582

192,736

188,020

193,006

8,657

41,292

43,482

48,595

133,768

47,420

56,968

60,341

265,150

84,102

91,858

137,204

123,324

126,769

111,397

58,464

52,661

Long term Debt Total

0
0
0
0
0
0
0
15,233
14,882
39,941
15,000
15,345
12,080
12,127
12,177
8,787
8,825
8,862
8,899
6,712
6,610
17,405
8,268
4,944
4,676
4,665
3,517
1,007
818
744
711
539
539
537
506
307
0
0
0
0

307

506

537

539

711

744

818

1,007

3,517

4,665

4,676

4,944

8,268

17,405

6,610

6,712

8,899

8,862

8,825

8,787

12,177

12,127

12,080

15,345

15,000

39,941

14,882

15,233

Capital Lease Obligations Min Short Term Debt

0
0
0
0
-9,760
-16,296
-26,227
-25,012
-76,620
0
0
-7,454
-4,937
-6,984
-967
-386
-9,967
-17,239
-7,941
-3,457
-654
144,016
151,669
146,399
154,218
172,871
170,696
148,716
106,177
109,839
0
-187,264
0
0
0
280,168
343,252
403,131
406,441
415,319

415,319

406,441

403,131

343,252

280,168

-187,264

109,839

106,177

148,716

170,696

172,871

154,218

146,399

151,669

144,016

-654

-3,457

-7,941

-17,239

-9,967

-386

-967

-6,984

-4,937

-7,454

-76,620

-25,012

-26,227

-16,296

-9,760

Warrants

0
0
0
0
0
0
1,573
2,041
2,395
2,630
1,856
3,368
3,838
3,913
4,467
4,714
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

4,714

4,467

3,913

3,838

3,368

1,856

2,630

2,395

2,041

1,573

Other Liabilities

12,250
12,475
0
0
14,272
21,256
12,704
13,867
14,963
12,937
15,871
14,730
208,437
18,152
14,295
13,083
28,407
16,112
10,148
9,343
30,590
17,675
28,083
37,635
27,909
12,811
38,579
47,627
55,098
45,334
64,738
134,169
75,662
53,397
50,987
47,754
60,655
0
30,888
0

30,888

60,655

47,754

50,987

53,397

75,662

134,169

64,738

45,334

55,098

47,627

38,579

12,811

27,909

37,635

28,083

17,675

30,590

9,343

10,148

16,112

28,407

13,083

14,295

18,152

208,437

14,730

15,871

12,937

14,963

13,867

12,704

21,256

14,272

12,475

12,250

> Total Stockholder Equity

711,938
744,615
0
0
822,697
843,487
613,160
634,921
651,160
676,671
694,376
718,967
726,617
761,022
785,698
823,897
852,813
819,355
828,306
850,667
891,329
893,319
891,864
946,693
984,382
1,209,640
1,250,612
1,354,266
1,383,561
1,384,598
1,437,737
1,529,416
1,443,705
1,417,563
1,446,668
1,540,657
1,628,297
1,615,053
1,646,076
1,769,303

1,769,303

1,646,076

1,615,053

1,628,297

1,540,657

1,446,668

1,417,563

1,443,705

1,529,416

1,437,737

1,384,598

1,383,561

1,354,266

1,250,612

1,209,640

984,382

946,693

891,864

893,319

891,329

850,667

828,306

819,355

852,813

823,897

785,698

761,022

726,617

718,967

694,376

676,671

651,160

634,921

613,160

843,487

822,697

744,615

711,938

Common Stock

59
59
0
0
59
59
65
65
65
67
67
67
66
67
67
66
68
67
66
66
65
66
66
66
65
70
70
69
68
69
68
68
68
69
69
68
69
69
69
69

Retained Earnings

75,263
90,371
0
0
170,929
185,974
6,470
19,021
28,623
36,520
46,804
67,861
87,407
113,507
134,244
181,999
207,124
201,702
222,324
248,590
276,468
298,831
311,360
339,821
377,471
400,995
427,621
523,454
600,096
657,375
741,678
886,995
922,223
955,484
981,204
1,008,246
1,048,072
1,058,509
1,087,326
1,121,387

1,121,387

1,087,326

1,058,509

1,048,072

1,008,246

981,204

955,484

922,223

886,995

741,678

657,375

600,096

523,454

427,621

400,995

377,471

339,821

311,360

298,831

276,468

248,590

222,324

201,702

207,124

181,999

134,244

113,507

87,407

67,861

46,804

36,520

28,623

19,021

6,470

185,974

170,929

90,371

75,263

Accumulated Other Comprehensive Income

-54,149

-79,723

-59,840

-62,814

-70,006

-94,210

-65,656

-43,347

-26,412

-24,588

-18,551

-20,176

-20,701

-34,738

-40,181

-43,108

-29,317

-43,705

-34,265

-30,294

-32,994

-30,234

-26,539

-13,956

-13,276

-14,164

-16,856

-21,917

-26,986

-20,797

-18,479

-14,613

-10,622

-12,625

-10,931

-11,338

Capital Surplus

0
0
0
0
0
0
619,493
626,702
637,332
658,684
668,424
678,148
854,750
664,304
665,551
655,108
753,077
644,125
636,150
635,005
645,090
631,189
635,362
636,123
649,954
848,756
880,370
851,444
803,573
745,705
720,579
668,765
564,761
527,666
559,605
602,349
642,970
616,315
638,404
0

638,404

616,315

642,970

602,349

559,605

527,666

564,761

668,765

720,579

745,705

803,573

851,444

880,370

848,756

649,954

636,123

635,362

631,189

645,090

635,005

636,150

644,125

753,077

655,108

665,551

664,304

854,750

678,148

668,424

658,684

637,332

626,702

619,493

Treasury Stock

-22,711

-11,219

-2,502

-93,500

-193,572

Balance Sheet

Currency in USD. All numbers in thousands.

	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31
Accounts Payable	113,421	126,190	67,468	53,883	55,048	40,772	41,655	34,400	37,190	35,560
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	-62,814	-43,347	-20,176	-43,108	-30,294	-13,956	-21,917	-14,613	-11,338	-8,903
Additional Paid In Capital	0	0	0	0	0	753,077	854,750	637,332	0	0
Capital Lease Obligations	374,869	197,091	174,516	154,218	0	0	0	0	0	0
Capital Stock	69	68	68	65	65	0	0	0	0	0
Capital Surpluse	642,970	564,761	803,573	649,954	645,090	753,077	854,750	637,332	670,182	0
Cash	714,439	833,697	846,851	380,373	285,746	206,723	300,314	166,169	88,662	109,420
Cash And Equivalents	714,439	833,697	846,851	380,373	285,746	206,723	300,314	0	0	0
Cash And Short Term Investments	714,439	833,697	846,851	380,373	285,746	206,723	300,314	166,169	88,662	109,420
Common Stock	69	68	68	65	65	68	66	65	59	59
Common Stock Shares Outstanding	67,586	68,260	68,671	65,726	65,846	66,324	66,579	63,476	60,462	60,462
Common Stock Total Equity	69	68	68	65	65	68	73	65	59	59
Current Deferred Revenue	40,695	28,753	27,868	26,780	27,812	3,620	3,717	5,547	3,064	5,379
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	544	789	52	664	5,204	25,800	34,913	42,835	41,453	48,646
Earning Assets	0	0	0	0	0	0	0	0	0	0
Good Will	1,087,784	1,070,442	671,065	618,455	594,812	528,889	519,487	518,679	455,550	445,532
Intangible Assets	203,370	247,333	195,156	194,389	199,792	194,421	195,856	198,689	197,256	197,190
Inventory	1,058,821	0	1,090,778	523,991	70,830	286,578	1,200	51,300	42,547	38,452
Liabilities And Stockholders Equity	2,968,814	2,886,810	2,426,067	1,677,003	1,423,058	1,418,841	1,382,379	1,070,884	1,229,848	1,061,226
Long Term Debt	22,100	539	818	22,476	8,657	11,861	32,562	76,620	0	0
Long Term Debt Total	22,100	539	22,618	22,476	8,657	11,861	32,562	76,620	0	0
Long Term Investments	37,309	109,143	208,618	30,087	125,258	209,319	0	0	12,666	14,253
Negative Goodwill	0	0	0	0	0	0	0	0	0	0
Net Debt	-339,570	-636,067	-671,517	-221,479	-277,089	-194,862	-267,752	-89,549	-88,662	-109,420
Net Invested Capital	1,628,297	1,444,244	1,384,379	989,058	899,986	864,674	0	0	0	0
Net Receivables	314,767	248,780	226,524	125,015	151,352	131,853	129,313	144,012	427,956	260,407
Net Tangible Assets	322,143	182,989	517,340	171,538	96,725	129,503	11,274	-66,208	169,891	69,216
Net Working Capital	109,586	-86,963	261,674	110,024	71,494	-184	236,425	16,176	165,319	79,056
Non Current Assets Total	1,939,235	1,803,960	1,352,319	1,171,242	825,638	986,765	759,180	760,703	713,230	691,399
Non Current Liabilities Other	45,111	300,717	258,248	32,024	52,391	99,727	204,720	26,154	0	0
Non Current Liabilities Total	420,524	273,292	230,432	191,582	8,657	133,768	265,150	123,324	52,661	55,517
Non Currrent Assets Other	83,609	57,646	50,747	38,890	-130,204	-190	17,949	21,634	29,540	18,457
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0
Other Assets	105,314	3,546,255	62,422	27,540	597,420	14,501	12,084	21,634	29,540	18,457
Other Current Assets	-1,058,448	373	-1,090,405	-523,618	89,492	-193,078	192,372	0	0	0
Other Current Liab	734,260	980,177	687,620	390,914	470,878	377,901	336,465	254,058	301,285	247,746
Other Liab	60,655	75,662	55,098	27,909	30,590	28,407	43,544	46,704	14,272	12,250
Other Stockholder Equity	642,970	564,761	803,573	649,954	645,090	659,577	661,054	637,085	663,047	628,846
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0
Property Plant And Equipment Gross	422,222	285,584	198,401	177,612	31,034	32,146	30,416	21,701	16,489	15,967
Property Plant And Equipment Net	422,222	224,118	198,401	177,612	31,034	32,146	30,416	21,701	16,489	15,967
Property Plant Equipment	88,345	52,176	46,370	177,612	31,034	32,146	30,416	21,701	16,489	15,967
Retained Earnings	1,048,072	922,223	600,096	377,471	276,468	207,124	87,407	28,623	170,929	91,936
Retained Earnings Total Equity	1,033,072	922,223	600,096	377,471	276,468	207,124	87,407	28,623	0	0
Short Long Term Debt	0	0	0	0	654	989	15,000	76,620	0	0
Short Long Term Debt Total	374,869	197,630	175,334	158,894	8,657	11,861	32,562	76,620	0	0
Short Term Debt	31,617	34,693	29,118	29,462	-27,812	9,967	4,937	76,620	9,760	2,086
Short Term Investments	37,309	109,143	208,618	135,389	125,258	209,319	192,372	0	0	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0
Total Assets	2,968,814	2,886,810	2,426,067	1,677,003	1,423,058	1,418,841	1,382,379	1,070,884	1,229,848	1,061,226
Total Current Assets	1,029,579	1,082,850	1,073,748	505,761	597,420	432,076	623,199	310,181	516,618	369,827
Total Current Liabilities	919,993	1,169,813	812,074	501,039	525,926	432,260	386,774	294,005	351,299	290,771
Total Liab	1,340,517	1,443,105	1,042,506	692,621	531,729	566,028	651,924	417,329	403,960	346,288
Total Permanent Equity	0	0	0	0	0	852,813	726,617	651,160	0	0
Total Stockholder Equity	1,628,297	1,443,705	1,383,561	984,382	891,329	852,813	726,617	651,160	822,697	711,938
Treasury Stock	0	0	0	0	0	-93,500	-193,572	0	0	0
Warrants	0	0	0	0	0	0	3,838	2,395	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31
Accounts Payable	100,319	95,125	91,100	113,421	119,974	98,182	98,644	126,190	123,395	60,273	70,259	67,468	55,035	42,006	37,233	53,883	45,391	40,911	41,414	55,048	45,159	41,183	41,247	40,772	36,717	39,735	39,391	41,655	39,608	31,611	29,541	34,400	35,924	40,152	34,529	37,190	0	0	25,972	35,560
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	-54,149	-79,723	-59,840	-62,814	-70,006	-94,210	-65,656	-43,347	-26,412	-24,588	-18,551	-20,176	-20,701	-34,738	-40,181	-43,108	-29,317	-43,705	-34,265	-30,294	-32,994	-30,234	-26,539	-13,956	-13,276	-14,164	-16,856	-21,917	-26,986	-20,797	-18,479	-14,613	-10,622	-12,625	-10,931	-11,338	0	0	0	0
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	636,150	644,125	753,077	655,108	665,551	664,304	854,750	678,148	668,424	658,684	637,332	0	0	0	0	0	0	0	0
Capital Lease Obligations	420,107	419,421	429,085	374,869	283,728	188,937	188,039	197,091	187,264	164,209	168,622	174,516	168,567	170,696	172,871	154,218	150,157	151,669	147,426	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Stock	69	69	69	69	68	69	69	68	68	68	69	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	638,404	616,315	642,970	602,349	559,605	527,666	564,761	668,765	720,579	745,705	803,573	851,444	880,370	848,756	649,954	636,123	635,362	631,189	645,090	635,005	636,150	644,125	753,077	655,108	665,551	664,304	854,750	678,148	668,424	658,684	637,332	626,702	619,493	0	0	0	0	0	0
Cash	555,532	493,929	456,116	714,439	549,422	503,806	488,949	833,697	1,058,603	923,009	782,194	846,851	633,659	421,967	422,164	380,373	276,735	220,248	211,731	285,746	256,401	227,599	144,244	206,723	197,178	245,356	183,221	300,314	253,605	156,067	105,972	166,169	131,927	97,777	97,687	88,662	0	0	72,214	109,420
Cash And Equivalents	0	493,929	456,116	714,439	549,422	503,806	488,949	833,697	1,058,603	923,009	782,194	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	560,864	493,929	456,116	714,439	549,422	503,806	488,949	833,697	1,058,603	923,009	782,194	846,851	633,659	421,967	422,164	380,373	276,735	220,248	211,731	285,746	256,401	227,599	144,244	206,723	197,178	245,356	183,221	300,314	253,605	156,067	105,972	166,169	131,927	97,777	97,687	88,662	0	0	0	0
Common Stock	69	69	69	69	68	69	69	68	68	68	69	68	69	70	70	65	66	66	66	65	66	66	67	68	66	67	67	66	67	67	67	65	65	65	59	59	0	0	59	59
Common Stock Shares Outstanding	67,886	67,867	68,000	68,107	69,726	69,800	68,828	67,462	68,280	68,566	68,719	68,900	69,356	69,615	66,799	65,591	65,608	66,086	65,621	65,420	65,759	66,046	66,154	65,886	66,123	66,908	66,370	66,457	66,692	66,817	66,346	65,324	65,406	62,697	65,213	60,462	60,462	60,462	60,462	0
Common Stock Total Equity	0	0	69	69	68	69	69	68	68	68	51	68	69	70	70	65	66	66	66	65	66	66	67	68	66	67	67	73	67	67	67	65	65	65	59	59	0	0	0	0
Current Deferred Revenue	41,014	37,370	39,442	40,695	40,576	35,482	35,803	28,753	27,319	26,923	29,845	27,868	37,008	29,660	28,570	26,780	27,896	29,709	29,219	0	28,522	30,946	31,153	3,620	3,790	5,123	9,181	3,717	6,851	7,599	4,613	5,547	4,772	3,049	3,660	3,064	0	0	0	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	0	0	285	544	619	538	683	789	1,159	45	21	52	35	4,016	2,350	664	1,686	3,327	6,057	5,204	9,343	10,148	16,112	25,800	29,708	36,739	43,048	34,913	39,312	39,951	39,901	42,835	44,701	42,787	0	41,453	0	0	0	48,646
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Good Will	1,128,610	1,086,438	1,090,597	1,087,784	1,060,666	1,051,294	1,062,408	1,070,442	1,082,934	679,323	671,951	671,065	670,200	664,248	618,955	618,455	626,519	600,578	605,026	594,812	594,001	596,390	597,475	528,889	527,047	526,547	522,186	519,487	512,265	515,505	515,905	518,679	515,436	490,490	475,687	455,550	0	0	445,778	445,532
Intangible Assets	199,941	196,652	200,151	203,370	204,845	214,598	230,944	247,333	263,493	204,641	194,092	195,156	196,238	197,410	193,400	194,389	196,213	196,986	198,815	199,792	201,250	202,932	204,596	194,421	194,642	194,987	195,433	195,856	195,887	196,643	197,611	198,689	199,871	198,445	196,878	197,256	0	0	642,629	642,722
Inventory	945,631	829,164	738,528	1,058,821	0	35,742	35,587	0	0	40,425	0	0	0	0	0	0	0	0	5,985	70,830	30,660	31,841	32,890	286,578	41,528	34,518	35,651	1,200	41,756	35,656	49,529	51,300	68,336	45,082	30,361	42,547	0	0	28,505	38,452
Liabilities And Stockholders Equity	2,958,908	2,781,553	2,706,821	2,968,814	2,671,642	2,510,199	2,435,864	2,886,810	3,045,762	2,356,829	2,149,079	2,426,067	2,119,799	1,835,543	1,698,683	1,677,003	1,538,630	1,447,900	1,392,900	1,423,058	1,260,170	1,220,406	1,147,277	1,418,841	1,197,618	1,168,681	1,080,476	1,382,379	1,093,454	1,008,000	986,469	1,070,884	1,026,175	981,003	1,108,895	1,229,848	0	0	0	0
Long Term Debt	0	0	0	0	307	506	537	539	539	711	744	818	1,007	3,517	4,665	4,676	4,944	8,268	17,405	6,610	6,712	8,899	8,862	8,825	8,787	12,177	12,127	12,080	15,345	15,000	39,941	14,882	15,233	45,000	0	0	0	0	0	0
Long Term Debt Total	0	0	0	0	307	506	537	539	539	711	744	818	1,007	3,517	4,665	4,676	4,944	8,268	17,405	6,610	6,712	8,899	8,862	8,825	8,787	12,177	12,127	12,080	15,345	15,000	39,941	14,882	15,233	0	0	0	0	0	0	0
Long Term Investments	30,035	31,214	33,860	37,309	36,775	35,742	35,587	109,143	39,829	40,425	47,856	208,618	234,576	30,279	29,320	30,087	27,355	27,515	27,055	125,258	40,960	26,565	15,657	209,319	132,835	60,558	19,075	0	0	0	0	0	4,487	2,265	0	12,666	0	0	0	14,253
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt	-135,425	-74,508	-27,031	-339,570	-265,387	-314,363	-300,373	-636,067	-870,800	-758,089	-612,828	-671,517	-464,085	-246,548	-244,628	-221,479	-121,634	-60,311	-46,900	-277,089	-247,347	-216,058	-132,486	-194,862	-184,969	-229,176	-165,718	-267,752	-209,843	-104,833	-12,380	-89,549	-54,182	-35,773	-97,687	-88,662	0	0	0	0
Net Invested Capital	1,769,303	1,646,076	1,615,053	1,628,297	1,540,964	1,447,174	1,418,100	1,444,244	1,529,955	1,438,448	1,385,342	1,384,379	1,355,273	1,255,335	1,214,305	989,058	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	359,831	308,579	258,426	314,767	299,944	291,126	240,643	248,780	282,416	243,006	178,550	226,524	132,043	131,061	100,108	125,015	130,369	130,916	139,915	151,352	103,052	105,721	126,452	131,853	94,671	88,143	110,043	129,313	83,184	94,431	116,990	144,012	137,711	156,133	279,611	427,956	0	0	0	260,407
Net Tangible Assets	0	362,986	324,305	322,143	275,146	180,776	124,211	182,989	182,989	553,773	518,555	517,340	487,828	388,954	397,285	171,538	123,961	94,300	89,478	96,725	55,416	28,984	17,284	129,503	106,922	68,631	47,316	15,112	14,183	-15,916	-34,215	-63,813	-78,345	-74,202	0	169,891	0	0	0	69,216
Net Working Capital	204,647	117,713	110,909	109,586	50,543	-27,796	-46,363	-86,963	147,018	476,954	411,336	261,674	421,725	340,974	328,617	110,024	8,276	-16,480	51,427	71,494	-8,390	-14,932	-8,265	-184	-29,738	11,951	38,064	236,425	49,772	30,588	52,998	16,176	7,194	-963	173,741	165,319	0	0	0	0
Non Current Assets Total	2,037,840	1,978,672	1,991,906	1,939,235	1,821,903	1,714,894	1,705,899	1,803,960	1,704,370	1,190,441	1,187,962	1,352,319	1,353,724	1,282,142	1,176,038	1,171,242	1,131,153	1,096,364	1,034,898	825,638	900,349	886,720	876,215	986,765	905,769	835,182	787,212	759,180	756,665	757,502	763,507	760,703	756,537	727,093	731,597	713,230	0	0	0	0
Non Current Liabilities Other	49,808	30,539	58,392	45,111	47,135	50,449	52,714	300,717	347,593	64,693	45,313	258,248	254,174	246,625	20,961	32,024	35,949	24,756	22,118	52,391	53,759	55,381	54,774	102,763	12,715	13,175	14,347	210,202	13,796	14,506	24,475	26,154	26,607	26,659	0	0	0	0	0	0
Non Current Liabilities Total	473,184	450,309	487,762	420,524	331,789	240,430	241,973	273,292	321,972	229,658	214,700	230,432	217,201	224,498	200,847	191,582	192,736	188,020	193,006	8,657	41,292	43,482	48,595	133,768	47,420	56,968	60,341	265,150	84,102	91,858	137,204	123,324	126,769	111,397	58,464	52,661	0	0	0	0
Non Currrent Assets Other	88,491	74,912	77,821	83,609	75,542	70,671	56,247	57,646	64,792	43,015	48,929	50,747	51,612	43,956	39,874	38,890	38,657	34,725	29,941	-125,000	23,930	18,986	10,504	21,990	-6,844	-11,609	-15,456	17,949	18,184	17,639	22,058	21,634	-21,463	-20,696	26,682	29,540	0	0	0	0
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	-124,167	-187,800	-230,016	105,314	191,192	191,237	129,637	3,546,255	151,669	118,695	218,240	62,422	494,566	32,209	27,433	27,540	30,574	6,911	371	22,321	19,247	16,044	13,945	14,501	740,763	741,541	736,030	733,292	726,336	729,787	735,574	739,002	738,260	710,242	715,190	696,741	0	0	675,402	675,432
Other Current Assets	-945,258	-828,791	-738,155	-1,058,448	373	-35,369	-35,214	373	373	-40,052	373	373	373	373	373	373	373	372	371	89,492	368	366	366	-193,078	11,439	12,981	10,000	192,372	0	0	0	0	0	0	0	0	0	0	0	0
Other Current Liab	570,300	539,693	447,510	734,260	635,086	500,500	453,842	1,014,870	669,132	438,029	390,894	648,399	436,438	288,767	222,393	420,376	322,156	297,396	232,532	470,878	291,073	268,548	189,688	377,901	281,080	276,690	199,644	336,465	233,104	180,700	135,810	254,058	196,736	185,445	149,072	301,285	0	0	128,740	247,746
Other Liab	0	30,888	0	60,655	47,754	50,987	53,397	75,662	134,169	64,738	45,334	55,098	47,627	38,579	12,811	27,909	37,635	28,083	17,675	30,590	9,343	10,148	16,112	28,407	13,083	14,295	18,152	208,437	14,730	15,871	12,937	14,963	13,867	12,704	21,256	14,272	0	0	12,475	12,250
Other Stockholder Equity	701,996	638,404	616,315	642,970	602,349	559,605	527,666	564,761	668,765	720,579	745,705	803,573	851,444	857,659	848,756	649,954	636,123	624,143	628,687	645,090	635,005	636,150	644,125	659,577	655,108	665,551	664,304	661,054	678,025	668,302	658,563	637,085	626,457	619,250	668,385	663,047	0	0	0	-16,673
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Property Plant And Equipment Gross	556,785	483,113	480,487	422,222	331,349	230,497	0	0	0	0	191,807	198,401	191,534	193,096	195,304	177,612	170,959	172,714	168,004	31,034	30,865	31,699	31,871	32,146	32,171	33,083	32,107	30,416	30,329	27,715	27,933	21,701	18,277	16,851	16,407	16,489	0	0	0	0
Property Plant And Equipment Net	487,291	483,113	480,487	422,222	331,349	230,497	218,758	224,118	213,747	186,636	191,807	198,401	191,534	193,096	195,304	177,612	170,959	172,714	168,004	31,034	30,865	31,699	31,871	32,146	32,171	33,083	32,107	30,416	30,329	27,715	27,933	21,701	18,277	16,851	16,407	16,489	0	0	0	0
Property Plant Equipment	0	483,113	480,487	88,345	331,349	230,497	218,758	52,176	213,747	186,636	191,807	46,370	46,167	43,642	195,304	177,612	170,959	172,714	168,004	31,034	30,865	31,699	31,871	32,146	32,171	33,083	32,107	30,416	30,329	27,715	27,933	21,701	18,277	16,851	16,407	16,489	0	0	15,827	15,967
Retained Earnings	1,121,387	1,087,326	1,058,509	1,048,072	1,008,246	981,204	955,484	922,223	886,995	741,678	657,375	600,096	523,454	427,621	400,995	377,471	339,821	311,360	298,831	276,468	248,590	222,324	201,702	207,124	181,999	134,244	113,507	87,407	67,861	46,804	36,520	28,623	19,021	6,470	185,974	170,929	0	0	90,371	75,263
Retained Earnings Total Equity	0	0	1,058,509	1,033,072	1,008,246	981,204	955,484	922,223	886,995	741,678	657,375	600,096	523,454	427,621	400,995	377,471	339,821	311,360	298,831	276,468	248,590	222,324	201,702	207,124	181,999	134,244	113,507	87,407	67,861	46,804	36,520	28,623	19,021	6,470	0	0	0	0	0	0
Short Long Term Debt	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	654	294	595	650	989	386	967	17,503	15,000	0	0	0	76,620	0	0	0	0	0	0	0	0
Short Long Term Debt Total	420,107	419,421	429,085	374,869	284,035	189,443	188,576	197,630	187,803	164,920	169,366	175,334	169,574	175,419	177,536	158,894	155,101	159,937	164,831	8,657	9,054	11,541	11,758	11,861	12,209	16,180	17,503	32,562	43,762	51,234	93,592	76,620	77,745	62,004	0	0	0	0	0	0
Short Term Debt	4,788	12,980	25,954	31,617	3,560	188,937	188,039	197,091	374,528	164,209	58,783	68,339	19,851	0	0	0	3,758	0	3,410	654	3,457	7,941	17,239	9,967	386	967	6,984	4,937	7,454	0	0	76,620	25,012	26,227	16,296	9,760	0	0	0	0
Short Term Investments	5,332	31,214	33,860	6,254	36,775	35,742	35,587	109,143	39,829	40,425	47,856	208,618	203,982	148,006	94,168	135,389	91,195	84,822	5,985	125,258	40,960	26,565	15,657	209,319	132,835	60,558	19,075	192,372	0	0	0	0	0	0	0	0	0	0	0	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Assets	2,958,908	2,781,553	2,706,821	2,968,814	2,671,642	2,510,199	2,435,864	2,886,810	3,045,762	2,356,829	2,149,079	2,426,067	2,119,799	1,835,543	1,698,683	1,677,003	1,538,630	1,447,900	1,392,900	1,423,058	1,260,170	1,220,406	1,147,277	1,418,841	1,197,618	1,168,681	1,080,476	1,382,379	1,093,454	1,008,000	986,469	1,070,884	1,026,175	981,003	1,108,895	1,229,848	0	0	968,076	1,061,226
Total Current Assets	921,068	802,881	714,915	1,029,579	849,739	795,305	729,965	1,082,850	1,341,392	1,166,388	961,117	1,073,748	766,075	553,401	522,645	505,761	407,477	351,536	358,002	597,420	359,821	333,686	271,062	432,076	291,849	333,499	293,264	623,199	336,789	250,498	222,962	310,181	269,638	253,910	377,298	516,618	0	0	0	0
Total Current Liabilities	716,421	685,168	604,006	919,993	799,196	823,101	776,328	1,169,813	1,194,374	689,434	549,781	812,074	548,332	360,433	288,196	501,039	399,201	368,016	306,575	525,926	368,211	348,618	279,327	432,260	321,587	321,548	255,200	386,774	287,017	219,910	169,964	294,005	262,444	254,873	203,557	351,299	0	0	0	0
Total Liab	1,189,605	1,135,477	1,091,768	1,340,517	1,130,985	1,063,531	1,018,301	1,443,105	1,516,346	919,092	764,481	1,042,506	765,533	584,931	489,043	692,621	591,937	556,036	499,581	531,729	409,503	392,100	327,922	566,028	369,007	378,516	315,541	651,924	371,119	311,768	307,168	417,329	389,213	366,270	262,021	403,960	0	0	220,428	346,288
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	828,306	819,355	852,813	823,897	785,698	761,022	726,617	718,967	694,376	676,671	651,160	0	0	0	0	0	0	0	0
Total Stockholder Equity	1,769,303	1,646,076	1,615,053	1,628,297	1,540,657	1,446,668	1,417,563	1,443,705	1,529,416	1,437,737	1,384,598	1,383,561	1,354,266	1,250,612	1,209,640	984,382	946,693	891,864	893,319	891,329	850,667	828,306	819,355	852,813	823,897	785,698	761,022	726,617	718,967	694,376	676,671	651,160	634,921	613,160	843,487	822,697	0	0	744,615	711,938
Treasury Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	-22,711	0	0	0	-11,219	-2,502	0	0	0	0	-93,500	0	0	0	-193,572	0	0	0	0	0	0	0	0	0	0	0	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4,714	4,467	3,913	3,838	3,368	1,856	2,630	2,395	2,041	1,573	0	0	0	0	0	0

Cash Flow

Currency in USD. All numbers in thousands.

	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31
Begin Period Cash Flow	834,070	847,224	380,746	286,115	300,223	492,686	166,169	88,662	109,420	68,386
Capital Expenditures	50,731	8,680	14,148	20,722	6,726	7,719	14,423	9,385	4,671	2,241
Cash And Cash Equivalents Changes	-107,193	3,630	453,266	102,386	-14,108	-192,463	326,517	77,507	0	0
Cash Flows Other Operating	998	65,246	-66,358	51,504	-15,081	880	15,886	-643	0	0
Change In Cash	-119,258	-13,154	466,478	94,631	-14,108	-192,463	326,517	77,507	-20,758	41,034
Change In Working Capital	-368,510	182,378	180,229	3,662	4,250	29,470	74,796	-97,177	92,458	79,775
Change Receivables	-37,742	14,128	-32,965	-13,387	-4,418	-6,327	-11,909	-9,747	0	0
Change To Account Receivables	-37,742	14,128	-32,965	-13,387	21,611	-18,202	-5,527	-1,387	-8,533	-20,341
Change To Inventory	0	0	211,668	39,259	-26,528	44,697	56,653	-84,306	100,223	93,664
Change To Liabilities	-305,157	134,512	302,308	-9,801	23,749	361	11,529	-11,484	51,797	50,545
Change To Netincome	165,730	35,857	48,853	58,269	46,443	40,989	37,272	33,456	53,674	49,139
Change To Operating Activities	-215,492	165,616	216,967	6,836	6,162	32,853	85,791	-56,827	51,002	-2,111
Depreciation	58,221	48,537	15,228	17,291	14,475	7,905	8,853	7,499	5,508	6,040
Dividends Paid	140,384	114,806	92,006	80,655	66,928	52,081	55,293	114,297	2,166	1,075
End Period Cash Flow	714,812	834,070	847,224	380,746	286,115	300,223	492,686	166,169	88,662	109,420
Exchange Rate Changes	0	0	0	0	-8,703	785	-4,018	443	0	0
Free Cash Flow	85,542	727,924	565,689	266,947	217,548	242,928	214,841	4,134	191,836	162,770
Investments	68,154	95,762	-73,130	-10,225	84,592	-218,584	-1,653	225,792	-193,200	-105,653
Issuance Of Capital Stock	0	0	189,060	189,060	0	0	0	0	0	0
Net Borrowings	-3,027	-280	-4,176	-10,081	-1,475	-19,107	-41,256	-3,047	-3,047	-3,047
Net Income	254,223	438,324	312,771	183,793	159,106	172,283	108,343	69,767	79,939	61,428
Other Cashflows From Financing Activities	-48,392	-39,181	-17,477	-31,108	-97,183	-229,548	5,908	1,336	635	-2,189
Other Cashflows From Investing Activities	-20,427	-360,996	-12,470	-2,197	-71,407	-210,865	12,770	188,938	-9,451	-14,090
Other Non Cash Items	38,849	46,558	30,425	28,232	569	447	4,008	2,538	2,760	2,465
Sale Purchase Of Stock	-48,659	-304,793	-102,224	-29,641	-69,563	-18,075	65,000	0	995	-2,172
Stock Based Compensation	156,936	91,875	62,421	64,345	56,561	47,111	39,357	35,057	23,200	22,479
Total Cash From Financing Activities	-240,462	-459,060	-26,823	-152,139	-236,138	-225,311	102,924	-116,008	-1,531	-3,264
Total Cash From Operating Activities	136,273	736,604	579,837	287,669	224,274	250,647	229,264	13,519	196,507	165,011
Total Cashflows From Investing Activities	-3,004	-273,914	-99,748	-33,144	6,459	-218,584	-1,653	179,553	-212,500	-121,984

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31
Begin Period Cash Flow	494,302	456,489	714,812	549,795	504,179	489,322	834,070	1,058,976	923,382	782,567	847,224	634,032	422,340	422,537	380,746	277,108	220,620	212,102	286,115	256,769	227,965	144,610	300,223	197,178	245,356	183,221	492,686	253,605	156,067	105,972	166,169	131,927	97,777	97,687	88,662	76,630	73,110	72,214	109,420	0
Capital Expenditures	15,580	23,273	15,654	19,085	13,850	13,311	4,485	1,126	5,054	1,097	1,403	3,146	4,456	3,052	3,494	3,751	2,691	6,839	7,441	2,190	1,337	2,176	1,023	1,538	652	2,311	3,218	1,591	4,756	622	7,454	4,598	2,230	1,586	971	1,565	1,293	902	911	2,241
Cash And Cash Equivalents Changes	0	0	-257,079	166,063	35,133	25,100	-333,489	-212,177	138,377	142,269	-64,839	210,968	205,017	-1,990	39,271	107,984	52,085	14,791	-72,474	18,584	27,824	85,660	-146,176	0	0	61,331	-311,703	0	0	50,095	-60,197	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	0	25,734	41,972	5,231	-52,622	6,417	-7,593	47,159	-14,687	40,367	-72,412	-5,646	2,202	9,498	43,776	-537	2,234	6,031	-12,088	-5,385	-1,675	4,067	0	0	-11,855	1,585	0	0	6,053	4,842	0	0	0	0	0	0	0	0	0
Change In Cash	61,603	37,813	-258,323	165,017	45,616	14,857	-344,748	-224,906	135,594	140,815	339,980	213,192	211,692	-197	41,791	103,638	56,488	8,518	-74,013	29,346	28,804	83,355	-155,613	103,045	-48,178	62,135	-309,465	239,081	97,538	50,095	-60,197	34,242	34,150	90	9,025	12,032	3,520	896	-37,206	41,034
Change In Working Capital	-40,968	6,713	-246,091	128,380	-40,259	-45,387	-411,244	2,369	329,512	66,590	-216,093	163,782	173,679	35,277	-192,509	79,830	25,325	75,665	-177,158	76,146	15,286	82,391	-169,573	71,221	-7,758	82,021	-116,014	39,371	61,665	75,123	-101,363	17,640	-11,658	28,546	-131,705	42,213	79,425	61,594	-90,774	0
Change Receivables	0	0	42,358	-37,508	-5,622	-5,257	10,645	52,791	-14,275	-41,632	17,244	-31,901	-6,699	-21,171	26,806	-23,202	3,196	3,212	3,407	-32,242	274	15,799	11,751	0	0	24,270	19,655	0	0	20,501	6,051	0	0	0	0	0	0	0	0	0
Change To Account Receivables	-238	-15,789	42,358	-37,508	-5,622	-5,257	10,645	52,791	-14,275	-41,632	17,244	-31,901	-6,699	-21,171	26,806	-23,202	3,196	3,212	3,407	-6,213	274	15,799	11,751	-44,188	5,279	23,083	-2,376	-27,954	11,519	6,628	4,280	-15,248	13,209	-2,338	2,990	-30,065	-3,034	10,929	13,637	-24,250
Change To Inventory	-49,229	44,909	-271,297	0	0	0	0	0	315,804	127,608	-232,344	195,065	162,370	52,263	-198,030	128,545	20,924	66,821	-177,031	69,437	13,450	66,543	-175,958	105,398	-9,796	62,052	-112,957	53,538	43,030	63,951	-103,866	37,461	-15,232	26,789	-133,324	67,963	79,471	50,704	-97,915	0
Change To Liabilities	0	-22,407	-304,412	120,861	-30,861	24,276	-419,433	-40,126	308,923	133,204	-993	268,999	193,188	63,360	-223,239	76,375	32,794	61,414	-180,384	120,476	20,397	68,267	-185,391	7,397	-3,241	69,606	-137,254	72,789	53,782	48,569	-112,256	-11,484	0	0	0	51,797	0	0	0	50,545
Change To Netincome	0	54,990	34,830	46,816	45,987	38,501	34,426	-25,724	15,828	16,099	35,869	4,664	5,207	17,059	21,923	19,871	14,167	9,127	15,104	7,051	13,330	8,613	17,449	-1,172	17,199	11,121	13,841	37,272	14,728	8,555	11,937	33,456	16,645	16,146	8,334	17,927	0	0	0	49,139
Change To Operating Activities	0	80,981	-283,513	115,292	-53,035	96,470	-374,219	-27,200	254,626	191,225	-253,035	211,310	138,150	60,865	-193,358	96,006	19,306	64,336	-172,812	110,652	16,753	74,791	-196,034	92,334	4,095	73,459	-137,035	85,791	2,464	6,053	4,842	-56,827	0	0	0	51,002	0	0	0	-2,111
Depreciation	6,657	7,086	6,532	6,347	13,256	19,475	19,143	19,948	20,074	4,344	4,171	3,937	3,949	3,670	3,672	5,011	4,336	3,981	3,963	3,666	3,635	3,706	3,468	1,785	1,971	2,175	1,974	1,955	2,845	1,814	2,239	2,433	1,921	1,713	1,432	1,322	1,390	1,406	1,390	6,040
Dividends Paid	35,510	35,419	41,971	32,341	34,231	33,322	40,490	27,447	27,855	28,299	31,205	21,704	21,889	22,166	26,247	19,551	18,894	19,323	22,887	16,644	16,710	16,731	16,843	12,597	14,590	12,407	12,487	19,413	10,389	10,419	15,072	8,909	8,913	95,560	915	1,147	1,147	0	2,166	1,075
End Period Cash Flow	555,905	494,302	456,489	714,812	549,795	504,179	489,322	834,070	1,058,976	923,382	339,980	847,224	634,032	422,340	422,537	380,746	277,108	220,620	212,102	286,115	256,769	227,965	144,610	300,223	197,178	245,356	183,221	492,686	253,605	156,067	105,972	166,169	131,927	97,777	97,687	88,662	76,630	73,110	72,214	109,420
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-8,703	0	0	0	0	0	0	0	0	0	-2,084	-1,074	0	0	0	0	0	0	0	0	0
Free Cash Flow	85,316	112,547	-149,222	219,063	77,192	71,792	-282,505	63,343	546,963	209,114	339,980	269,507	304,058	110,858	-118,734	173,160	94,924	115,513	-116,650	130,021	74,869	132,655	-119,997	108,395	72,343	126,363	-64,173	75,863	108,462	105,746	-75,230	43,430	22,306	45,858	-107,460	71,808	104,528	83,125	-67,625	162,770
Investments	-22,744	2,660	3,293	50	-3,157	-1,426	72,687	-71,077	-779	7,243	160,375	25,465	-56,432	-54,886	12,723	-44,301	-6,369	-51,767	92,212	-85,488	-13,537	-10,015	193,632	-78,109	-70,726	-39,255	-20,074	16,495	-269	-429	19,908	225,792	0	0	0	-193,200	0	0	0	-105,653
Issuance Of Capital Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	0	0	-307	-199	-2,519	-2	-2	-173	-33	-74	-1,890	-2,099	-97	-90	705	-2,389	-8,397	-90	60	-1,535	-254	-140	-386	-2,242	192,372	-207,372	-41,256	-7,816	-32,500	17,500	-3,047	0	0	0	-3,047	0	0	0	-3,047
Net Income	70,803	67,031	61,390	59,660	63,051	60,730	70,782	65,173	174,308	112,883	-101	99,366	118,515	48,790	46,100	59,014	48,894	33,109	42,776	45,348	43,955	40,121	29,682	38,099	61,583	33,357	39,244	34,076	33,980	20,876	19,411	22,780	22,661	9,255	15,071	24,785	24,185	16,612	14,357	61,320
Other Cashflows From Financing Activities	-95	-7,312	-69,179	-407	-4,286	-1,244	-42,455	-41	-4,195	1	-34,946	22,319	-19	-17	-17,441	-8	254	-87	-31,267	-87,678	-14,874	8	-97,191	-4,134	-33,353	247	-192,308	193,751	11,336	28	59,358	-52	-2,562	1,257	420	1,014	1,330	-260	845	-17
Other Cashflows From Investing Activities	0	5,953	3,293	-20,427	68,104	71,261	72,687	-55,359	-305,333	-304	160,375	-85,600	-111,065	-12,470	12,723	-12,422	-10,907	49,155	8,710	13,185	98,673	0	-71,407	0	0	-2,825	0	0	0	0	0	0	0	0	0	-9,451	0	0	0	-14,090
Other Non Cash Items	14,136	10,148	9,927	2,052	11,131	15,923	9,743	15,229	14,244	10,484	-339,980	9,166	7,304	7,260	6,695	16,873	5,090	348	5,921	310	354	240	-335	-1,066	534	365	614	1,564	1,000	705	739	-148	887	-204	2,003	97	661	1,321	681	0
Sale Purchase Of Stock	0	-24,952	-69,766	432	-186	-8,181	-40,724	-121,596	-70,251	-45,453	-67,493	-60,410	-18,602	-23,212	189,060	-1,813	-4,325	-21,001	-2,502	-367	-14,963	-20,003	-34,230	-16,239	-1	6	-1,841	193,565	0	0	0	0	0	0	0	995	0	0	0	-2,172
Stock Based Compensation	43,974	42,740	39,409	34,170	40,760	41,399	40,607	19,477	19,152	18,956	232,304	15,642	12,642	16,941	17,196	16,554	16,682	18,347	12,762	12,021	13,781	13,569	17,190	1,186	22,363	13,006	10,556	6,503	10,872	10,640	11,342	9,686	10,054	8,085	7,232	6,093	6,381	3,485	7,241	0
Total Cash From Financing Activities	-35,605	-67,683	-111,150	-32,623	-38,902	-45,266	-123,671	-149,084	-102,474	-73,784	-133,718	-84,004	-42,609	-45,492	145,282	-20,875	-25,563	-48,955	-56,746	-17,246	-33,508	-36,980	-148,404	75,283	-50,186	-22,952	-227,456	166,732	-6,869	-53,138	-3,801	-9,735	-11,475	-94,303	-495	-133	183	-260	-1,321	-3,264
Total Cash From Operating Activities	100,896	135,820	-133,568	238,148	91,042	85,103	-278,020	64,469	552,017	210,211	339,980	272,653	308,514	113,910	-115,240	176,911	97,615	122,352	-109,209	132,211	76,206	134,831	-118,974	109,933	72,995	128,674	-60,955	77,454	113,218	106,368	-67,776	48,028	24,536	47,444	-106,489	73,373	105,821	84,027	-66,714	165,011
Total Cashflows From Investing Activities	0	-32,974	-12,361	-39,462	-17,007	-14,737	68,202	-127,562	-311,166	5,842	158,972	22,319	-60,888	-70,408	9,229	-48,052	-19,967	-58,606	93,481	-87,678	-14,874	-12,191	121,202	-79,673	-71,228	-44,391	-23,292	-1,653	6,378	-1,051	12,454	179,553	182,762	163,270	115,665	-212,500	0	0	0	-121,984

Income Statement

Currency in USD. All numbers in thousands.

	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31
Cost Of Revenue	1,147,879	1,408,634	971,195	737,762	692,073	636,631	582,244	461,609	475,100	414,918
Depreciation And Amortization	58,221	48,537	15,228	17,291	14,475	7,905	8,853	7,499	5,508	6,040
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Ebit	341,738	612,864	408,157	229,601	224,320	214,446	181,995	131,476	132,708	102,848
Ebitda	399,959	661,401	423,385	246,892	238,795	222,351	190,848	138,975	138,216	108,888
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	-1,313	10,731	0	0	0	0
Gross Profit	661,568	861,324	554,257	421,606	392,312	326,733	289,847	232,156	205,772	177,532
Income Before Tax	339,000	603,938	409,228	235,647	224,320	217,836	178,487	125,630	132,135	105,326
Income Tax Expense	69,777	165,614	96,457	51,854	65,214	45,553	70,144	55,863	52,196	43,898
Interest Expense	2,738	9,499	547	571	640	0	0	0	0	0
Interest Income	121	356	259	0	0	0	3,839	0	0	0
Minority Interest	0	-573	0	0	0	0	3,838	2,395	58	108
Net Income	254,223	437,751	312,771	183,793	159,106	172,283	108,343	69,741	79,881	61,320
Net Income Applicable To Common Shares	254,223	437,751	312,771	183,793	159,106	172,283	108,343	69,741	79,881	61,320
Net Income From Continuing Ops	269,223	438,324	312,771	183,793	159,106	172,283	108,343	69,767	79,939	61,320
Net Interest Income	0	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	-17,738	-8,926	1,071	6,046	4,793	3,390	-3,508	-770	0	0
Non Recurring	0	0	0	0	0	13,779	19,497	14,139	9,853	15,475
Operating Income	341,738	612,864	408,157	229,601	224,320	214,446	181,995	126,400	128,654	102,848
Other Items	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	1,467,709	1,657,094	1,117,295	929,767	865,000	748,918	690,096	564,827	550,191	489,602
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	58,221	48,537	15,228	17,291	14,475	7,905	0	0	0	0
Research Development	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	142,903	150,275	95,560	93,301	795,119	64,158	57,795	63,163	56,194	53,169
Tax Provision	69,777	165,614	96,457	51,854	63,901	56,284	70,144	55,863	52,196	0
Total Operating Expenses	319,830	248,460	146,100	192,005	865,000	112,287	107,852	103,218	75,091	74,684
Total Other Income Expense Net	-2,738	-8,926	1,071	6,046	4,793	3,390	-3,508	-3,308	-2,760	2,478
Total Revenue	1,809,447	2,269,958	1,525,452	1,159,368	1,084,385	963,364	872,091	693,765	680,872	592,450

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31
Cost Of Revenue	324,039	296,542	263,483	282,937	289,348	309,859	265,735	293,580	549,376	333,374	232,304	317,082	339,743	177,249	137,121	186,706	213,107	174,638	163,311	186,706	187,180	175,321	139,181	155,519	174,308	161,295	145,509	170,567	164,971	124,902	121,804	120,683	135,981	111,256	93,689	128,540	138,737	109,412	98,411	483,562
Depreciation And Amortization	6,657	7,086	6,532	6,347	13,256	19,475	19,143	19,948	20,074	4,344	4,171	3,937	3,949	3,670	3,672	5,011	4,336	3,981	3,963	3,666	3,635	3,706	3,468	1,785	1,971	2,175	1,974	1,955	2,277	2,382	2,239	2,433	1,921	1,713	1,432	1,322	1,390	1,406	1,390	0
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	96,540	90,277	73,347	90,624	84,173	89,371	77,570	98,609	249,260	157,319	107,676	140,276	158,416	66,875	42,590	68,655	68,016	45,153	47,942	62,473	62,259	56,175	40,128	59,762	54,485	53,326	46,873	57,334	56,823	34,977	32,861	42,067	44,750	16,067	28,592	38,701	38,289	30,325	25,393	105,326
Ebitda	103,197	97,363	79,879	96,971	97,429	108,846	96,713	118,557	269,334	161,663	111,847	144,213	162,365	70,545	46,262	73,666	72,352	49,134	51,905	66,139	65,894	59,881	43,596	61,547	56,456	55,501	48,847	59,289	59,100	37,359	35,100	44,500	46,671	17,780	30,024	40,023	39,679	31,731	26,783	0
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-1,313	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	187,091	170,447	152,346	161,830	167,151	179,678	152,909	177,586	339,422	203,898	140,418	183,622	198,133	98,487	74,015	115,988	120,408	98,172	87,038	291,378	110,833	99,671	80,821	89,234	84,629	80,888	71,982	86,533	82,709	61,635	58,970	62,913	69,542	47,124	52,577	57,928	57,871	46,882	43,091	108,888
Income Before Tax	102,575	93,573	76,352	95,302	83,610	84,267	75,821	90,688	249,007	156,466	107,777	139,803	158,603	67,071	43,751	70,914	69,055	46,254	49,425	62,473	62,931	57,182	41,734	60,814	55,117	53,526	48,379	56,567	55,739	34,228	31,953	40,833	42,592	17,104	25,101	40,971	38,059	28,479	24,626	105,326
Income Tax Expense	31,772	26,542	14,962	20,642	20,559	23,537	5,039	25,515	74,699	43,583	21,817	40,437	40,088	18,281	-2,349	11,900	20,161	13,144	6,649	17,125	18,974	17,063	12,052	22,715	-6,466	20,169	9,135	22,491	21,759	13,352	12,542	18,053	19,931	7,849	10,030	16,186	13,874	11,867	10,269	43,898
Interest Expense	0	0	0	4,678	563	5,104	1,749	7,921	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	739	148	0	0	0	0	0	0
Interest Income	0	21	21	20	20	22	59	82	82	85	107	49	65	73	72	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	573	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-4,714	11,986	-11,185	3,913	3,838	0	0	0	2,395	0	-26	26	13	25	21	0	108
Net Income	70,803	67,031	61,390	59,660	63,051	60,730	70,782	65,173	173,735	112,883	85,960	99,366	118,515	48,790	46,100	59,014	48,894	33,110	42,776	45,348	43,957	40,119	29,682	38,099	61,583	33,357	39,244	34,076	33,980	20,876	19,411	22,780	22,661	9,255	15,045	24,772	24,160	16,591	14,358	61,320
Net Income Applicable To Common Shares	0	67,031	61,390	59,660	63,051	60,730	70,782	65,173	173,735	112,883	85,960	99,366	118,515	48,790	46,100	59,014	48,894	33,110	42,776	45,348	43,957	40,119	29,682	38,099	61,583	33,357	39,244	34,076	33,980	20,876	19,411	22,780	22,661	9,255	15,045	24,772	24,160	16,591	14,358	61,320
Net Income From Continuing Ops	70,803	67,031	61,390	74,660	63,051	60,730	70,782	65,173	174,308	112,883	85,960	99,366	118,515	48,790	46,100	59,014	48,894	33,110	42,776	45,348	43,957	40,119	29,682	38,099	61,583	33,357	39,244	78,758	33,980	20,876	19,411	69,767	22,661	9,255	0	79,939	0	0	0	61,320
Net Interest Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	0	0	3,005	-10,322	-563	-5,104	-1,749	-7,921	-253	-853	101	-473	187	196	1,161	0	1,039	1,101	0	0	672	1,007	1,606	0	632	200	1,506	0	-1,084	-749	-908	0	-355	-481	0	0	0	0	0	0
Non Recurring	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	10,481	534	365	614	17,067	1,000	705	739	14,139	532	-685	0	9,853	0	0	0	15,475
Operating Income	96,540	90,277	73,347	90,624	84,173	89,371	77,570	98,609	249,260	157,319	107,676	140,276	158,416	66,875	42,590	68,655	68,016	45,153	47,942	62,473	62,259	56,175	40,128	59,762	54,485	53,326	46,873	57,334	56,823	34,977	32,861	41,497	43,686	17,437	23,780	40,605	36,613	27,387	24,049	102,848
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	414,590	376,712	342,482	354,143	372,326	400,166	341,074	372,557	639,538	379,953	265,046	360,428	379,460	208,861	168,546	234,039	265,499	227,657	202,407	231,000	235,754	218,817	179,874	184,991	204,452	188,857	170,618	199,766	190,857	151,560	147,913	141,814	161,305	141,628	120,080	146,815	159,157	127,438	116,781	6,040
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	6,657	7,086	6,532	6,347	13,256	19,475	19,143	19,948	20,074	4,344	4,171	3,937	3,949	3,670	3,672	5,011	4,336	3,981	3,963	3,666	3,635	3,706	3,468	1,785	1,971	2,175	1,974	1,955	2,845	1,814	2,239	2,433	1,921	1,713	1,432	1,322	1,390	1,406	1,390	0
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	49,298	44,200	40,508	42,190	35,398	48,436	40,299	42,979	52,212	24,823	23,887	26,596	25,555	22,396	21,013	22,876	22,960	27,684	188,253	216,063	21,849	20,930	20,054	18,942	16,067	15,296	13,853	15,351	14,426	14,241	13,777	13,472	14,506	17,941	14,523	10,727	16,713	14,346	13,816	481,097
Tax Provision	31,772	26,542	14,962	20,642	20,559	23,537	5,039	25,515	74,699	43,583	21,817	40,437	40,088	18,281	-2,349	11,900	20,161	13,144	6,649	17,125	18,974	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	90,551	80,170	78,999	71,206	82,978	90,307	75,339	78,977	90,162	46,579	32,742	43,346	39,717	31,612	31,425	47,333	52,392	53,019	39,096	231,000	48,574	43,496	40,693	29,472	30,144	27,562	25,109	29,199	25,886	26,658	26,109	21,131	25,324	30,372	26,391	18,275	20,420	18,026	18,370	0
Total Other Income Expense Net	6,035	3,296	3,005	4,678	-563	-5,104	-1,749	-7,921	-253	-853	101	-473	187	196	1,161	2,259	1,039	1,101	1,483	2,621	672	1,007	1,606	1,052	632	200	1,506	-767	-1,084	-749	-908	-949	-887	204	-2,003	-97	-661	-1,321	-681	2,478
Total Revenue	511,130	466,989	415,829	444,767	456,499	489,537	418,644	471,166	888,798	537,272	372,722	500,704	537,876	275,736	211,136	302,694	333,515	272,810	250,349	291,378	298,013	274,992	220,002	244,753	258,937	242,183	217,491	257,100	247,680	186,537	180,774	183,596	205,523	158,380	146,266	186,468	196,608	156,294	141,502	592,450

Latest Income Statement (annual, 2023-03-31)

Gross Profit (+$)
totalRevenue	1,809,447
Cost of Revenue	-1,147,879
Gross Profit	661,568	661,568

Operating Income (+$)
Gross Profit	661,568
Operating Expense	-319,830
Operating Income	341,738	341,738

Operating Expense (+$)
Research Development	0
Selling General Administrative	142,903
Selling And Marketing Expenses	0
Operating Expense	319,830	142,903

Net Interest Income (+$)
Interest Income	121
Interest Expense	-2,738
Other Finance Cost	-2,617
Net Interest Income	0

Pretax Income (+$)
Operating Income	341,738
Net Interest Income	0
Other Non-Operating Income Expenses	-17,738
Income Before Tax (EBT)	339,000	344,476 EBIT - interestExpense = 339,000 324,000 256,961
Interest Expense	2,738
Earnings Before Interest and Taxes (EBIT)	341,738	341,738
Earnings Before Interest and Taxes (EBITDA)	399,959

After tax Income (+$)
Income Before Tax	339,000
Tax Provision	-69,777
Net Income From Continuing Ops	269,223	269,223
Net Income	254,223
Net Income Applicable To Common Shares	254,223

Non-recurring Events
Discontinued Operations	0
Extraordinary Items	0
Effect of Accounting Charges	0
Other Items	0
Non Recurring	0
Other Operating Expenses	1,467,709
Total Other Income/Expenses Net	-2,738	17,738

Technical Analysis of Houlihan Lokey Inc
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Houlihan Lokey Inc. The general trend of Houlihan Lokey Inc is BULLISH with 42.9% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Houlihan Lokey Inc's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitions	Bullish trend (42.9%)		Bearish trend (-42.9%)
Overbought to neutral	Bullish pullback	=	Bearish reversal
Upper to lower neutral	Bullish correction	=	Bearish continuation
Nuetral to oversold	Oversold	=	Oversold
Oversold to neutral	Bullish reversal	=	Bearish correction
Lower to upper neutral	Bullish continuation	=	Bearish pullback
Nuetral to overbought	Overbought	=	Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.

Score

Let's take a look at the Support & Resistance of Houlihan Lokey Inc.

The long score for the Support & Resistance is 1/1.
The longshort score for the Support & Resistance is 1/(-1 +1).

Around support: The price is currently trading around a support level. This can be considered as a potential entry level. +1

The bullish price targets are: 131.29 < 133.18.

The bearish price targets are: 121.81 > 121.34 > 113.74.

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Houlihan Lokey Inc Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

Moving averages are lagging trend indicators.
There are many types of moving averages.
Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of Houlihan Lokey Inc. The current mas is .

The long score for the Moving Averages is 10/14.
The longshort score for the Moving Averages is 6/(-14 +14).

MA 20 trending down: The MA 20 is trending down. -1
Close < MA 20: The price is below the MA 20. -1
MA 20 > MA 50: The MA 20 is higher than the MA 50. +1
MA 20 > MA 100: The MA 20 is higher than the MA 100. +1
MA 20 > MA 200: The MA 20 is higher than the MA 200. +1
MA 50 trending down: The MA 50 is trending down. -1
Close < MA 50: The price is below the MA 50. -1
MA 50 > MA 100: The MA 50 is higher than the MA 100. +1
MA 50 > MA 200: The MA 50 is higher than the MA 200. +1
MA 100 trending up: The MA 100 is trending up. +1
Close > MA 100: The price is above the MA 100. +1
MA 100 > MA 200: The MA 100 is higher than the MA 200. +1
MA 200 trending up: The MA 200 is trending up. +1
Close > MA 200: The price is above the MA 200. +1

Directionalities and relatives.

Moving Average	Amount of candles	vs. MA 50	vs. MA 100	vs. MA 200
MA 20	20
MA 50	50	-
MA 100	100	-	-
MA 200	200	-	-	-

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Shows the moving average of the selected period.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

There are various kinds of moving averages:

Simple moving average (SMA);
Exponential moving average (EMA);
Smoothed moving average (SMMA);
Linear weighted moving average (LWMA).

The moving average looks at a certain period of time and it calculates the price average. The various types of averages are using various formulas. Don’t worry, you don’t have to memorize any formula. All moving averages are calculated automatically by basically every charting software you use. But it’s good to know how moving averages are actually calculated.

Simple moving average

SMA is calculated by summing up the price closures of the selected period. The price is then divided by the selected period. For example, when using the 21 day moving average you sum up all the closing prices for each day and divide that by 21. The result is a line on the chart representing the average. Because it’s an average in the selected timeframe, the trend is always lagging. An moving average looks like this on the chart:

Source: Tradingview.com

In this case, the blue line represents a 21 day moving average. Because the average is based on results from the past, the indicator will always lag behind. For example, when price would suddenly go up, the moving average won't immediately follow.

All other moving averages discussed below look the same on the chart. The only difference is that the line will move in different directions based on the maths behind the used indicators and the amount of days used to determine the average.

Exponential moving average

The EMA gives more weight to the latest closing prices by giving them more value in the equation. EMA is calculated by adding a certain percentage to the latest closing prices:

EMA = (CLOSE (i) * P) + (EMA (i - 1) * (1 - P))

Where:

CLOSE (i) = current period close price.
EMA (i - 1) = value of the Moving Average of a preceding period.
P = the percentage of using the price value.

Smoothed moving average

A smoothed moving average is an exponential moving average with a long lookback period. Older prices are reduced in weight but are never left out in the calculation. Unlike SMA and EMA where prices are removed when they are beyond the selected period. SMMA is a combination of the SMA and EMA. The main advantage is that it smooths out fluctuations in price.

Linear weighted moving average

The LWMA gives the latest price the highest weight and then lineary scales down with each price before that. The result is that the LWMA reacts quicker to changes in price than the SMA or EMA. The formula:

LWMA = ((Pn∗W1)+(Pn−1∗W2)+(Pn−2∗W3)...) / ∑W

Where:

P = Price for the period.
n = The most recent period, n-1 is the prior period, and n-2 is two periods prior.
W = The assigned weight to each period, with the highest weight going first and then descending linearly based on the number of periods being used.

Moving averages are widely used by many traders. Which moving average you need depends on your trading strategy. Common practise is using a combination of multiple periods. For example, the EMA21, EMA50, EMA100 and EMA200. How does that look on a chart:

Source: Tradingview.com

The lowest (purple) line on the chart represents the EMA200 then following up the EMA100, EMA50 and EMA21.

You can use moving averages to determine a trend. The 200 moving average is mostly used as a baseline for determining the current trend:

When the 200 moving average is moving up it is considered a bullish trend.
When the 200 moving average is down it is considered a bearish trend.
When moving averages are flatlined, there is no clear trend so you should look for market structure, consolidation or trend reversals. Depending on how you want to trade.

This is not set in stone. Most trading strategies use multiple moving averages each with different settings. While one strategy might use the EMA20, the other uses the SMA21. There can be hundreds of different variations. Moving averages can also be used as support and resistance. More often than not, prices will bounce on moving averages.

Houlihan Lokey Inc Daily Moving Averages Chart

2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

MACD is a lagging momentum indicator.
Uses two moving averages.
Can show buy or sell signals based on momentum.
Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Houlihan Lokey Inc. The current macd is -0.56064789.

The long score for the Moving Average Convergence/Divergence (MACD) is 0/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is -4/(-4 +4).

MACD line < signal line: The MACD line is below the signal line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Houlihan Lokey Inc price going down in the near term. -2
MACD < 0: The MACD is below the zero line (centerline), it indicates a bearish signal for Houlihan Lokey Inc. This means that the short-term moving average is lower than the long-term moving average, signaling negative momentum and suggesting a higher likelihood of the Houlihan Lokey Inc price continuing to fall in the near future. It indicates that sellers are gaining control, and there is negativism in the market, leading to potential price decreases. -1
Trending down: The MACD line is trending down. This indicates that the short-term moving average is falling faster than the long-term moving average, suggesting negative momentum in the market. This signals that sellers are becoming more active and insecure, leading to potential price decreases as traders anticipate further losses and are willing to sell at lower prices. -1

Houlihan Lokey Inc Daily Moving Average Convergence/Divergence (MACD) Chart

2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.

Score

Let's take a look at the Directional Movement Index (DMI) of Houlihan Lokey Inc. The current adx is 19.09.

The long score for the Directional Movement Index (DMI) is 0/7.
The longshort score for the Directional Movement Index (DMI) is -2/(-7 +7).

PLUS_ID < MINUS_DI: The +DI line is below the -DI line. This indicates a bearish signal in the market, as the negative directional movement is currently stronger than the positive directional movement, showing that sellers have the upper hand. Market psychology suggests that traders are pessimistic, expecting further price decreases, and are more willing to sell Houlihan Lokey Inc shares, leading to potential downward momentum in its price. -1
PLUS_ID < MINUS_DI && ADX < 25 && ADX trending up: The ADX is below 25 and indicates a weak or no trend. However, the ADX is rising and a new bearish trend could be forming. -1

Houlihan Lokey Inc Daily Directional Movement Index (DMI) Chart

2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

Parabolic SAR (stop and reverse) is a lagging trend indicator.
Shows the current trend.
Shows potential entry signals.
Shows potential exit signals.
Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of Houlihan Lokey Inc. The current sar is 130.69.

The long score for the Parabolic SAR is 0/1.
The longshort score for the Parabolic SAR is -1/(-1 +1).

Close < SAR: The price is below the SAR. It's generally considered a bearish signal. -1

Houlihan Lokey Inc Daily Parabolic SAR Chart

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

Leading momentum indicator, meaning the signals are instant.
Ranges between 0 and 100.
Above 70 is considered overbought.
Below 30 is considered oversold.
Above or below 50 can also be used to determine price trend or support and resistance.
RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of Houlihan Lokey Inc. The current rsi is 37.26. The current phase is Correction in bull market.

The long score for the Relative Strength Index (RSI) is 0/13.
The longshort score for the Relative Strength Index (RSI) is -4/(-13 +13).

Correction in bull market: Moderate price decline, potential pause in the uptrend. Reassess the market, wait for signs of stabilization.
Trending down: The RSI is trending down. -1

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

The RSI measures the magnitude of recent price changes to determine if the asset is overbought or oversold.

Overbought (RSI above 70) means that the trading price is above its intrinsic value. This might indicate a sell or short signal.
Oversold (RSI below 30) means that the trading price is below its intrinsic value. This might indicate a buy or long signal.
RSI levels above or below 50 can also be used to determine a trend.
RSI divergence looks at a deviation between RSI and price movement.
Can be used in many different ways.

Original usage

Keep in mind that almost every indicator can be used in different ways. Even beyond the orginal settings. The relative strength index was developed by J. Welles Wilder. Wilder recommended a smoothing period of 14 days. That means a 14 day moving average (read more about this setting below). Another quote from the wikipedia page:

Wilders also considers the RSI 50 line as both support and resistance. I recommend to always read the original settings first before using an indicator. Many traders and websites are using their own version of the indicator which might be confusing.

How you can use RSI (Divergence)

First and foremost, there is no real right or wrong usage of the RSI indicator. You can use it in any way you want. Wilder recommends using a 14 day average but you can make it 50 or 100 if you like. Just keep in mind that using an indicator is just part of a larger trading plan. In other words, it’s not recommended to do any trading or investing based on a single indicator like the RSI.

The RSI is measured on a scale between 0 and 100. From 30 till 0 is considered oversold. and from 70 -100 is overbought. The RSI is a leading indicator, meaning the signals are instant.

I like to use the RSI as a trend\momentum indicator and not as an overbought or oversold indicator. I use the middle (50) as the baseline. When prices go above RSI 50 the trend is bullish and can indicate long positions. When below 50 it is considered bearish and can indicate short positions. Other traders use the 70 and 30 levels as overbought/oversold depending on the used strategy. The RSI indicator looks like this:

Source: Tradingview.com

The general concensus is that an RSI above 70 indicates that the security is overbought. In other words, the price this security is trading for is to high and should come down. So if RSI hits 70 or above this might indicate a sell signal or taking a short position (expecting the price will go down). Although RSI above 70 indicates the security is trading above it's fair value, that does not mean the price will go down.

Use tradingview to add indicators

I highly recommend using tradingview to add indicators to a chart. It has all the indicators you can think off and can add them for free (up to three indicators) to any chart you want. You can see that the levels 30 and 70 are marked with a dotted line. If you want you can remove these lines or give it another colour using Tradingview. You can also adjust the moving average used. You can also find RSI indicators made by the community that include other settings like RSI divergences.

Tradingview

Use Tradingview to (back)test your strategies and add hundreds of indicators created by the community.

View tool on Tradingview.com

RSI divergence

RSI is not only used to determine momentum but can also spot reversals or continuations of the trend. A reversal means that the trend is going in the opposite direction. From bullish to bearish or from bearish to bullish. These reversals can be spotted by looking at the price and the direction of the RSI. When the price is going up but the RSI is going down that means there is a divergence. This is also the case when RSI goes up but price is going down.

There are four types of divergences:

Regular bullish divergence
Regular bearish divergence
Hidden bullish divergence
Hidden bearish divergence

Regular bullish divergence

With a regular bullish divergence, the price is making lower highs but the oscillator (in this case the RSI) is making higher lows. A regular bullish divergence might indicate the end of the current trend. You’ll see regular bullish divergences mostly at the end of a downtrend. But that does not mean that every regular bullish divergence is a trend reversal.

Price is making lower highs
RSI is making higher lows
Indicating bullish reversal (price might go up)

Source: Tradingview.com

Regular bearish divergence

With a regular bearish divergence the price is making higher highs but the oscillator (in this case the RSI) is making lower highs. This might indicate the end of an uptrend.

Price is making higher highs
RSI is making lower highs
Indicating bearish reversal

Source: Tradingview.com

Hidden bullish divergence

With a hidden bullish divergence, the price is making a higher low while the RSI is making a lower low. This might indicate bullish trend continuation.

Price is making higher lows
RSI is making lower lows
Indicating bullish continuation

Source: Tradingview.com

As you have noticed, you can have multiple divergences in a row.

Hidden bearish divergence

With a hidden bearish divergence, price is making lower highs but RSI is making higher highs. This might indicate bearish trend continuation.

Price is making lower highs
RSI making higher highs
Indicating bearish continuation

Source: Tradingview.com

You can find many cheatsheets of RSI divergences online. Search for "RSI divergence overview" and you'll find a lot of examples. You can print these to learn the various types of divergences.

Houlihan Lokey Inc Daily Relative Strength Index (RSI) Chart

3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

Leading momentum indicator, meaning the signals are instant.
Used to determine overbought and oversold areas much like the RSI.
Ranges between 0 and 100.
Above 80 is considered overbought.
Below 20 is considered oversold.
Consists of two lines named K and D.
K compares the highest high and lowest low on the selected price range.
The D line is a moving average of the K line.
Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of Houlihan Lokey Inc. The current phase is Oversold in bull market.

The long score for the Stochastic Oscillator is 1/6.
The longshort score for the Stochastic Oscillator is -4/(-6 +6).

STOCH < 50: The STOCH %K is below 50. There are more sellers than buyers. -1
STOCH < 20: The STOCH %K is below 20 and oversold. -2
STOCH %K line < STOCH %D line: The STOCH %K line is below the STOCH %D line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Houlihan Lokey Inc price going down in the near term. -2
Trending up: The STOCH %K is trending up. +1

Houlihan Lokey Inc Daily Stochastic Oscillator Chart

3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

Lagging or leading Momentum indicator
When the CCI is above zero, the price is above the historical average
When the CCI is below zero, the price is below the historical average
Used for spotting trends
- If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
- If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of Houlihan Lokey Inc. The current cci is -137.77446823.

The long score for the Commodity Channel Index (CCI) is 0/1.
The longshort score for the Commodity Channel Index (CCI) is -1/(-1 +1).

CCI < -100: The CCI is below -100, it indicates that the price is significantly below its average, suggesting a potential oversold condition. -1

Houlihan Lokey Inc Daily Commodity Channel Index (CCI) Chart

3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

Lagging momentum indicator
Ranges between +100 and -100
Considered overbought above +50
Considered oversold below -50
It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Houlihan Lokey Inc. The current cmo is -40.16835556.

The long score for the Chande Momentum Oscillator (CMO) is 0/1.
The longshort score for the Chande Momentum Oscillator (CMO) is -1/(-1 +1).

CMO < 0: The CMO is below 0, the momentum of the price is negative, indicating a potential downtrend in the price. -1

Houlihan Lokey Inc Daily Chande Momentum Oscillator (CMO) Chart

3.5 Williams %R

Shows the current price relative to the highest high over the last 14 days.

Lagging momentum indicator
Ranging between 0 and -100
Above -20 is considered overbought
Below -80 is considered oversold
Is prone to give false signals

Score

Let's take a look at the Williams %R of Houlihan Lokey Inc. The current willr is -97.82510195.

The long score for the Williams %R is 0/1.
The longshort score for the Williams %R is -1/(-1 +1).

WILLR < -80: The Williams %R is below -80. This indicates that the price is in oversold territory, suggesting a potential price correction or trend reversal to the upside. -1

Houlihan Lokey Inc Daily Williams %R Chart

4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

Lagging volatility indicator
Uses 3 bands: one upper, one lower and one in the middle
Works best when the middle band reflects an intermediate trend (MA20).
When the price is moving closer to the upper band, the market might be overbought
When the price is moving closer to the lower band, the market might be oversold

Score

Let's take a look at the Bollinger Bands of Houlihan Lokey Inc.

Houlihan Lokey Inc Daily Bollinger Bands Chart

4.2 Average True Range (ATR)

Measures market volatility

Leading volatility indicator
Can be used to determine stop-loss positions
Calculated by:
- Current high minus the current low
- Current high minus the previous close
- Current low minus the previous close
The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of Houlihan Lokey Inc. The current atr is 2.50261707.

Houlihan Lokey Inc Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

Measures market volatility

Leading momentum indicator
Calculation:
- If the closing price is above the previous closing price: OBV = previous OBV + current volume
- If the closing price is below the previous closing price: OBV = previous OBV - current volume
- If the closing price is the same as the previous closing price than the OBV is the same.
Can be used to confirm price trends
Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of Houlihan Lokey Inc. The current obv is 11,738,541.

Houlihan Lokey Inc Daily On-Balance Volume (OBV) Chart

5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

Lagging momentum indicator
Looks like RSI but uses volume as an extra metric (RSI only considers price)
Above 80 is considered overbought
Below 20 is considered oversold
Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of Houlihan Lokey Inc. The current mfi is 30.96.

The long score for the Money Flow Index (MFI) is 0/2.
The longshort score for the Money Flow Index (MFI) is -1/(-2 +2).

MFI < 50: -1

Houlihan Lokey Inc Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Houlihan Lokey Inc.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

Date	Indicator	Signal
2023-11-28	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-11-29	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-11-30	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2023-12-01	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-04	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-05	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-14	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-15	STOCH	LONG EXIT		The %K line crosses below the %D line.
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2023-12-20	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
2023-12-21	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2023-12-22	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-26	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2023-12-28	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-29	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2024-01-03	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-01-04	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-01-05	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-08	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-01-09	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-10	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-01-11	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-16	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-22	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-23	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-01-24	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-29	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-30	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-01-31	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-02-01	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-02-02	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-02-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-09	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-02-12	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-13	STOCH	LONG EXIT		The %K line crosses below the %D line.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-14	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-15	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-02-16	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-22	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-23	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-27	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2024-03-01	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-03-04	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-03-05	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-03-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	MFI	SHORT ENTRY	LONG CLOSE	20 crossover to downside
2024-03-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-13	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-15	MFI	LONG ENTRY	SHORT CLOSE	20 crossover to upside
2024-03-18	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-19	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-21	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-25	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-26	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-03-27	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-28	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-04-01	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-02	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-03	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-05	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-04-08	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-04-09	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-11	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-12	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-04-16	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-04-17	STOCH	LONG EXIT		The %K line crosses below the %D line.

6.3. Candlestick Patterns

Houlihan Lokey Inc Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of Houlihan Lokey Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	37.263
Ma 20	Greater than	Ma 50	127.139
Ma 50	Greater than	Ma 100	126.952
Ma 100	Greater than	Ma 200	122.143
Open	Greater than	Close	123.470
Total			4/5 (80.0%)

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Quick analysis of Houlihan Lokey Inc (30 sec.)

What can you expect buying and holding a share of Houlihan Lokey Inc? (30 sec.)

How much money do you get?

What is your share worth?

+ What do you gain per year?

For what price can you sell your share?

1. Valuation of Houlihan Lokey Inc (5 min.)

$122.38

$26.06

$-88.39 - $-109.85

$-62.33 - $-83.79

2. Growth of Houlihan Lokey Inc (5 min.)

Is Houlihan Lokey Inc growing?

How much money is Houlihan Lokey Inc making?

How much money comes from the company's main activities?

3. Financial Health of Houlihan Lokey Inc (5 min.)

4. Comparing to competitors in the Capital Markets industry (5 min.)

Industry Rankings (Capital Markets)

What can you expect buying and holding a share of Houlihan Lokey Inc? (5 min.)

What can you expect buying and holding a share of Houlihan Lokey Inc?

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of Houlihan Lokey Inc

About Houlihan Lokey Inc

Financial Health

Valuation

1.1. Profitability of Houlihan Lokey Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Capital Markets)

1.1.2. Return on Assets

Trends

Compared to industry (Capital Markets)

1.1.3. Return on Equity

Trends

Compared to industry (Capital Markets)

1.2. Operating Efficiency of Houlihan Lokey Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

Compared to industry (Capital Markets)

1.2.2. Operating Ratio

Trends

Compared to industry (Capital Markets)

1.3. Liquidity of Houlihan Lokey Inc.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Capital Markets)

1.3.2. Quick Ratio

Trends

Compared to industry (Capital Markets)

1.4. Solvency of Houlihan Lokey Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Capital Markets)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Capital Markets)

2. Market Valuation of Houlihan Lokey Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Capital Markets)

Houlihan Lokey Inc
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