Houlihan Lokey (STU:2HL) EBIT : €325 Mil (TTM As of Dec. 2023)

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What is Houlihan Lokey EBIT?

Houlihan Lokey's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was €89 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was €325 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Houlihan Lokey's annualized ROC % for the quarter that ended in Dec. 2023 was 12.89%. Houlihan Lokey's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 78.73%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Houlihan Lokey's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 4.00%.

Houlihan Lokey EBIT Historical Data

The historical data trend for Houlihan Lokey's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Houlihan Lokey EBIT Chart

Houlihan Lokey Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

EBIT

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193.90

207.79

342.85

556.48

319.18

Houlihan Lokey Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT	Get a 7-Day Free Trial															79.46	84.64	67.70	84.59	88.53

Competitive Comparison of Houlihan Lokey's EBIT

For the Capital Markets subindustry, Houlihan Lokey's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Houlihan Lokey's EV-to-EBIT Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Houlihan Lokey's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Houlihan Lokey's EV-to-EBIT falls into.

Houlihan Lokey EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was €325 Mil.

Houlihan Lokey (STU:2HL) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Houlihan Lokey's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	354.108 * ( 1 - 30.97% )	/	( (1885.351	+	1906.31)	/ 2 )
=	244.4407524	/	1895.8305
=	12.89 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	2606.315	-	606.987	-	( 466.491	-	max(0, 642.002	-	755.979	+	466.491	))
=	1885.351

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	2713.319	-	619.348	-	( 514.312	-	max(0, 656.958	-	844.619	+	514.312	))
=	1906.31

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Houlihan Lokey's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	354.108	/	( ( (452.677 + max(-499.001, 0))	+	(446.846 + max(-516.54, 0)) )	/	2 )
=	354.108	/	( ( 452.677	+	446.846 )	/	2 )
=	354.108	/	449.7615
=	78.73 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(142.652	+	0	+	0.34900000000005)	-	(606.987	+	35.016	+	-0.00099999999997635)
=	-499.001

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(140.076	+	0	+	0.34199999999998)	-	(619.348	+	37.61	+	0)
=	-516.54

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Houlihan Lokey's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	325.459	/	8131.916
	=	4.00 %

Houlihan Lokey EBIT Related Terms

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Houlihan Lokey (STU:2HL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Houlihan Lokey Inc (STU:2HL) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

HLI:USA 2HL:Germany

Address

10250 Constellation Boulevard, 5th Floor, Los Angeles, CA, USA, 90067

Website

https://www.hl.com

Houlihan Lokey Inc is an investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, valuation, and strategic consulting. The firm serves corporations, institutions, and governments worldwide with offices in the United States, Europe, and the Asia-Pacific region. The company operates in three segments. In the Corporate Finance business segment, it provides M&A and capital markets advisory services. Through the Financial Restructuring business segment, the company advises on some of the complex restructurings around the world. Financial and Valuation Advisory Services business segment provides valuation and financial opinion, and financial and strategic consulting practices in the United States.

Houlihan Lokey (STU:2HL) Headlines

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