NAS10027,087+1.72%S&P7,401+0.65%GOLD$4,073−1.00%BTC$75,828−0.15%VIX24.55−12.88%latest tape · as of 20:03 UTC
The Screen · Financials · Capital Markets
Houlihan Lokey Inc
HLI · the NYSE · USD · Market cap $10.2B · 2,800 employees
Houlihan Lokey, Inc., an investment banking company, provides merger and acquisition (M&A), capital market, financial restructurings and liability management, and financial and valuation advisory services worldwide.
FAIL · Does not pass the screen
147.22 USD
Price as of 5 Nov 2026Daily close, not a live quote
Screened 2026-11-05 · the tape above runs as of 20:03 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
Price147.22 USD at the 5 Nov 2026 close
Our value readFair vs our fair value, as of 5 Nov 2026
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 1.61, read 2026-11-03
Ethical does not pass the values gate
Price147.22 USD
Fair value146.26
Ethical score30.0/100
Value readFairas of 5 Nov 2026
Our investment reviews on this name
2026-10-26Read Markup127.07+15.9% to today ✓Distribution gives way to Markup first Markup read since September
2026-10-14Read Distribution130.16+13.1% to today Markdown gives way to Distribution
2026-10-02Read Markdown127.46+15.5% to today Markup gives way to Markdown with volume flow in agreement
2026-09-01Read Markup128.95+14.2% to today ✓Distribution gives way to Markup after a 6% slide in 9 weeks
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Houlihan Lokey Inc holds its Markup at $147.22. Consolidating, no directional conviction, held for 15 days.
As held on the ledger · 2026-11-05
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 15 days
Price at the screen
$147.22
Valuation
24.62 trailing · 16.87 forward price to earnings
Values screen
FAIL· score 30.0
Beta
0.91
The Workings
Five Screens, Shown in Full
Does not pass. Excluded industry: Capital Markets
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Excluded industry: Capital Markets
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Houlihan Lokey does not clear the screen at the business-activity stage. It operates in conventional financial services, which the screen treats as interest-based, so the financial ratios are not the deciding factor here.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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Get an email when HLI's ethical verdict changes
Today HLI does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Fair vs our fair value, as of 5 Nov 2026: it trades above our $146.26 fair value estimate, weak competitive moat, 4.80% revenue growth.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. The price runs 0.7% above the base estimate.
Third-party analyst targets: 9 covering, consensus Buy. The average target sits +10% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Where our models see it going: fair-value estimate $146.26, with a range of $137.70 to $168.19, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Investment Bank Trips Over Ethical Screen
Big deals and restructurings still flow through investment banks every quarter. We pass on this one because the ethical screen blocks capital markets firms on principle.
Revenue fell 5 percent, the moat is weak and an 18 percent return on equity sits next to a 14.9 times forward multiple that offers little protection. Fair value sits only 8 percent above the current price and the opportunity rating is none.
Cyclical earnings can look cheap on a low multiple right before they roll over. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
HLI trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-04Markup$146.74+15.5%Entry 16
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 15.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 20%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (8 analysts) rates it none, with a mean price target of $172.
2026-10-28Markup$127.07+0.0%Entry 15
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 20%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (8 analysts) rates it none, with a mean price target of $172. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-27Markup$127.07+0.0%Entry 14
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 20%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (8 analysts) rates it none, with a mean price target of $172. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-26Markup · changed$127.07+0.0%Entry 13
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 20%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (8 analysts) rates it none, with a mean price target of $172. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Distribution$127.07+0.0%Entry 12
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 20%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (8 analysts) rates it none, with a mean price target of $172. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-24Distribution$127.07+0.0%Entry 11
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 20%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (8 analysts) rates it none, with a mean price target of $172. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-23Distribution$127.07+0.0%Entry 10
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 20%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (8 analysts) rates it none, with a mean price target of $172. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-22Distribution$127.07+0.0%Entry 9
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 20%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (8 analysts) rates it none, with a mean price target of $172. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-21Distribution$127.07-2.4%Entry 8
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 2.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 20%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (8 analysts) rates it none, with a mean price target of $172. It reported earnings in this window, a natural checkpoint for the thesis.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 2.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 20%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (8 analysts) rates it none, with a mean price target of $172.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
