Houlihan Lokey Cash Flow Statement

Financials in millions USD. Fiscal year is April - March.

Millions USD. Fiscal year is Apr - Mar.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Net Income	399.71	280.3	254.22	437.75	312.77
Depreciation & Amortization, Total	41.27	28.54	58.22	48.54	15.23
Gain (Loss) On Sale of Investments	-1.45	-0.88	3.68	4.23	-0.1
Stock-Based Compensation	168.44	166.6	156.94	91.88	62.42
Change in Accounts Receivable	-21.93	-101.31	-49.34	32.16	-111.49
Change in Accounts Payable	-13.37	-23.19	-32.01	-9.96	0.54
Change in Other Net Operating Assets	177.06	-49.03	-215.49	165.62	216.97
Other Operating Activities	35.3	43.01	25.29	-31.88	2
Operating Cash Flow	848.61	328.46	136.27	736.6	579.84
Capital Expenditures	-39.7	-66.73	-50.73	-8.68	-14.15
Cash Acquisitions	-69.19	-3.86	-20.43	-361	-12.47
Investment in Securities	-156.17	0.18	68.15	95.76	-73.13
Investing Cash Flow	-265.06	-70.41	-3	-273.91	-99.75
Long-Term Debt Repaid	-	-	-3.03	-0.28	-4.18
Net Debt Issued (Repaid)	-	-	-3.03	-0.28	-4.18
Issuance of Common Stock	-	-	-	-	189.06
Repurchase of Common Stock	-154.86	-95.67	-90.94	-338.53	-120.03
Common Dividends Paid	-165.22	-148.45	-140.38	-114.81	-92.01
Other Financing Activities	-9	-6.47	-6.11	-5.44	0.33
Financing Cash Flow	-329.07	-250.59	-240.46	-459.06	-26.82
Foreign Exchange Rate Adjustments	-0.76	-0.43	-12.07	-16.78	13.21
Net Cash Flow	253.73	7.04	-119.26	-13.15	466.48
Free Cash Flow	808.91	261.73	85.54	727.92	565.69
Free Cash Flow Growth	209.06%	205.96%	-88.25%	28.68%	111.91%
Free Cash Flow Margin	33.86%	13.67%	4.73%	32.07%	37.09%
Free Cash Flow Per Share	11.78	3.84	1.27	10.66	8.24
Cash Interest Paid	1.36	0.58	5.9	1	0.99
Cash Income Tax Paid	93.31	105.06	156.79	242.03	44.2

Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.