Houlihan Lokey vs PJT Partners
Houlihan Lokey reported revenue of $2.6 billion in fiscal 2026, 1.5 times PJT Partners' $1.7 billion in fiscal 2025. Houlihan Lokey's revenue grew 9.6% in its latest year, and PJT Partners' grew 14.8%. Free cash flow was $682 million at Houlihan Lokey and $480 million at PJT Partners. Their fiscal years end in different months (March 31 and December 31), so the periods don't line up exactly.
Side by side
| Houlihan Lokey | PJT Partners | |
|---|---|---|
| Latest fiscal year | FY2026, Mar 31, 2026 | FY2025, Dec 31, 2025 |
| Revenue | $2.6B | $1.7B |
| Revenue growth | 9.6% | 14.8% |
| Revenue growth a year, last 5 years | 11.4% | 10.2% |
| Gross margin | — | — |
| Operating margin | 20.1% | — |
| Net margin | 16.3% | 10.5% |
| Free cash flow | $682M | $480M |
| Free cash flow margin | 26.1% | 28.0% |
| Return on capital | — | — |
| Net debt to EBITDA | — | — |
| Dividends and buybacks | $349M | $220M |
| Change in diluted share count | −0.3% | — |
| Last close | $131.21 | $142.90 |
| P/E at the last close | 22.0× | — |
| Insider trades, last 12 months | bought $500,570, sold $2.1 million | sold $3.7 million |
| Piotroski F-score | — | — |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Houlihan LokeyPJT Partners
Operating margin
Percent of revenue
Houlihan LokeyPJT Partners
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Houlihan LokeyPJT Partners
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Houlihan Lokey and PJT Partners pages.