NYSE: HLI · Investment Banking & Services
Houlihan Lokey (HLI) fair value and price range
As of 31 Oct 2026, Faircurve's model values Houlihan Lokey (HLI) at $95.93 a share. The stock last closed at $146.74, which puts the model's fair value 34.6% below the price. The model grades the evidence behind this valuation as low, so no verdict is shown. For banks, insurers and mortgage real estate investment trusts (REITs) the grade looks at how many comparable companies there are and how closely they agree, how wide the range of outcomes is, and whether the model's valuation methods agree with each other. It does not say how likely the fair value is to be right.
Revalued . Price is the close of 3 Nov 2026. Houlihan Lokey, Inc.
The report adds the live price, the chart against the range the options market prices, the next earnings date and the analysts' consensus. No account needed.
This week, in three parts
What happenedThe run of 31 Oct 2026 moved the fair value from $77.76 to $95.93 (+23.4%). The model does not yet explain moves on this valuation method.
What the model makes of itThe price of $146.74 is 34.6% above it. The model grades the evidence behind this valuation as low, so no verdict is shown. For banks, insurers and mortgage real estate investment trusts (REITs) the grade looks at how many comparable companies there are and how closely they agree, how wide the range of outcomes is, and whether the model's valuation methods agree with each other. It does not say how likely the fair value is to be right.
What's nextNext report on 27 Jan 2027. Options prices imply a move of about 10% either way over the next month. The next weekly run is on Saturday 7 Nov 2026.
What price range does the model give HLI?
The calibrated range for HLI over 63 trading days is $132.80 to $165.89. It sits around the last close, and its width comes from the volatility that HLI's own options imply (34% a year), calibrated weekly against realised prices (n = 6,661 past valuations, refreshed 31 Oct 2026). Ranges built this way held the price 60% of the time at this horizon. The fair value is the model's opinion and rides beside the range. It is not the centre of it.
The model's own simulated range, from the 20th to the 80th percentile of its runs, is $74.45 to $121.29. In 10% of the simulations the fair value came out above the price the model ran on.
Faircurve Insights · 31 Oct 2026
Houlihan Lokey, Inc. (HLI) is a global investment banking firm. It offers financial advisory services, including mergers and acquisitions (M&A), capital markets, financial restructuring and valuation.
Faircurve's model put the fair value at $95.93 a share on 31 Oct 2026. This is the midpoint of 2,000 simulations. The previous run, on 24 Oct 2026, gave $77.76, so the model's fair value moved +23.4%. The model does not yet explain moves on this valuation method. Its calibrated range over 63 trading days is $132.80 to $165.89, built around the price from the volatility the stock's own options imply. Ranges built this way held the price 60% of the time at this horizon. The model grades the evidence behind this valuation as low, so no verdict is shown. It does not say whether the fair value is right.
The sheet gives no quality scores for the business. This note therefore reports no overall score and no factor measures against the peer median. The model compares Houlihan Lokey with four companies: Piper Sandler Companies (PIPR), PJT Partners Inc. (PJT), Bank of New York Mellon Corp (BNY) and Interactive Brokers Group, Inc. (IBKR). None of them has a verdict on this date.
Written from the figures on this page for the 31 Oct 2026 valuation and checked by rule before publishing: every number is one printed here, no forecast, no instruction. The price, the gap and the verdict are the page's own and change daily. Not a recommendation.
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Faircurve's note after each US session, in your inbox. No account needed.
When does HLI report earnings, and how has the stock reacted?
Houlihan Lokey's next earnings report is scheduled for 27 Jan 2027. Companies can move their dates.
Options prices on 4 Nov 2026 imply a move of about 6.4% in either direction through the nearest expiry, about 15 days out. That is the size the market is pricing, not a direction. HLI's 30 day implied volatility works out to about 9.7% over one month.
On 4 Nov 2026 HLI moved 5.0% in one session, against the 2.2% a day that options had priced: 2.3 times the implied size.
Around its last 8 reports: what the options market priced, and what followed
Each move runs from the last close before the report to the first close after it, so it covers companies that report before the open and after the close. The median size across HLI's last 8 reports, ignoring direction, was 3.7%.
What the options market has priced for a month's move in HLI
How does HLI compare with similar companies?
The companies in investment banking & services closest to Houlihan Lokey in market value, each on the same model and the same date.
| Company | Last close | Model fair value | Gap | Model verdict |
|---|---|---|---|---|
| PIPR Piper Sandler Companies | $65.95 | $75.02 | +13.8% | Low evidence grade |
| PJT PJT Partners Inc. | $146.59 | $106.25 | -27.5% | Low evidence grade |
| BNY Bank of New York Mellon Corp | $149.31 | $46.59 | -68.8% | Gap wider than 60% |
| IBKR Interactive Brokers Group, Inc. | $77.46 | $62.93 | -18.8% | Low evidence grade |
All investment banking & services stocks ranked by gap to fair value
Houlihan Lokey at a glance
Houlihan Lokey, Inc. is a prominent global investment banking firm offering a comprehensive suite of financial advisory services. These include expertise in mergers and acquisitions (M&A), capital markets, financial restructuring, and valuation.
- Market value
- $9.6B
- Sector
- Financial Services
- Industry
- Investment Banking & Services
- Consensus revenue growth, next fiscal year
- +3.3%
- Analysts with estimates
- 5
- Beta to the US market
- 0.58
- First valued by Faircurve
- 11 Jul 2026
How the fair value is worked out: the model prices Houlihan Lokey on the share price against the net assets on the balance sheet, adjusted for the earnings analysts expect (price to book value), runs 2,000 simulations across its inputs and takes the midpoint. The full method is documented here.
What changed in the latest valuation?
On 24 Oct 2026 the model's fair value for HLI was $77.76. As of 31 Oct 2026 it is $95.93, a change of +23.4%. The model does not yet explain moves on this valuation method. The model revalues every stock it covers each week, and again after an earnings report.
Questions about Houlihan Lokey's valuation
Is Houlihan Lokey stock undervalued or overvalued?
Faircurve's model puts HLI's fair value at $95.93 a share against a last close of $146.74, as of 31 Oct 2026. The model grades the evidence behind this valuation as low, so no verdict is shown. For banks, insurers and mortgage real estate investment trusts (REITs) the grade looks at how many comparable companies there are and how closely they agree, how wide the range of outcomes is, and whether the model's valuation methods agree with each other. It does not say how likely the fair value is to be right.
What is HLI's fair value?
$95.93 a share as of 31 Oct 2026, the midpoint of 2,000 simulations. The model's own 20th to 80th percentile range is $74.45 to $121.29.
What price range does the model give HLI?
$132.80 to $165.89 over 63 trading days. Ranges built this way held the price 60% of the time across 6,661 past valuations, refreshed 31 Oct 2026.
When does Houlihan Lokey report earnings next?
The next report is scheduled for 27 Jan 2027. Companies can move their dates.
How much has HLI moved on past earnings reports?
Across its last 8 reports the median two session move was 3.7%, ignoring direction. The largest was -11.8% around the report of 29 Jul 2026.
How confident is the model in this valuation?
The model's evidence grade for HLI is low. For banks, insurers and mortgage real estate investment trusts (REITs) the grade looks at how many comparable companies there are and how closely they agree, how wide the range of outcomes is, and whether the model's valuation methods agree with each other. It is not a probability that the fair value is right, or that the price reaches it.
The model's own ideas on HLI
The model holds no idea open on HLI today. Signed-in readers see the rule each idea runs on, the floor and the exit level the model set and its time limit, and the model's closed ideas on HLI with their outcomes. A free account is enough.