NASDAQ : HLNE
Hamilton Lane Incorporated — Financial statements
Financials · Asset Management · United States
Last price 83.91 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 4.62B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Hamilton Lane Incorporated (HLNE) reported revenue of 858.37M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 858.37M | 758.99M | 712.96M | 553.84M | 528.75M | 367.92M |
| Cost of Revenue | 337.68M | 299.57M | 274.50M | 204.00M | 198.41M | 129.16M |
| Gross Profit | 520.68M | 459.42M | 438.47M | 349.84M | 330.34M | 238.75M |
| Selling, General & Admin | 146.24M | 134.47M | 121.91M | 104.02M | 90.30M | 69.19M |
| Operating Expenses | 146.24M | 134.47M | 121.91M | 104.02M | 90.30M | 69.19M |
| Operating Income | 374.44M | 324.94M | 316.55M | 245.82M | 240.04M | 169.56M |
| Interest Expense | -14.59M | -14.95M | -13.33M | -11.18M | -8.62M | -4.64M |
| Interest & Investment Income | 14.36M | 13.28M | 8.08M | 10.01M | 5.11M | 500.00K |
| Earnings From Equity Investments | 45.79M | 53.43M | 30.63M | 36.49M | 6.54M | 79.30M |
| Other Non Operating Income (Expenses) | 1.01M | 2.05M | -2.37M | -1.89M | -38.20M | 51.40M |
| EBT Excluding Unusual Items | 421.00M | 378.76M | 339.56M | 279.25M | 204.88M | 296.12M |
| Gain (Loss) on Sale of Investments | 96.44M | 84.16M | 22.72M | 2.41M | 37.73M | 17.55M |
| Pretax Income | 517.44M | 462.92M | 362.28M | 281.66M | 242.61M | 313.68M |
| Income Tax Expense | 81.91M | 75.20M | 48.51M | 54.45M | 55.42M | 66.42M |
| Earnings From Continuing Operations | 435.53M | 387.72M | 313.77M | 227.21M | 187.19M | 247.25M |
| Minority Interest in Earnings | -159.64M | -138.54M | -96.35M | -86.35M | -78.06M | -101.27M |
| Net Income | 275.90M | 249.18M | 217.42M | 140.86M | 109.12M | 145.99M |
| Preferred Dividends & Other Adjustments | -3.81M | -951.00K | ||||
| Net Income to Common | 275.90M | 249.18M | 217.42M | 140.86M | 112.93M | 146.94M |
| Shares Outstanding (Basic) | 41.64M | 41.61M | 39.92M | 37.86M | 37.06M | 36.51M |
| Shares Outstanding (Diluted) | 54.36M | 54.47M | 40.31M | 53.90M | 53.70M | 53.67M |
| EPS (Basic) | 6.63 | 5.99 | 5.45 | 3.72 | 3.05 | 4.02 |
| EPS (Diluted) | 6.56 | 5.92 | 5.41 | 3.69 | 3.01 | 3.98 |
| Free Cash Flow | 366.83M | 419.07M | 288.66M | 109.78M | 221.84M | 161.00M |
| Free Cash Flow Per Share | 6.75 | 7.69 | 7.16 | 2.04 | 4.13 | 3.00 |
| Dividend Per Share | 2.22 | 2.16 | 1.96 | 1.78 | 1.60 | 1.40 |
| Gross Margin | 60.66% | 60.53% | 61.50% | 63.17% | 62.48% | 64.89% |
| Operating Margin | 43.62% | 42.81% | 44.40% | 44.38% | 45.40% | 46.09% |
| Profit Margin | 32.14% | 32.83% | 30.50% | 25.43% | 21.36% | 39.94% |
| Free Cash Flow Margin | 42.74% | 55.21% | 40.49% | 19.82% | 41.96% | 43.76% |
| EBITDA | 384.32M | 334.82M | 325.84M | 254.00M | 247.48M | 175.06M |
| EBITDA Margin | 44.77% | 44.11% | 45.70% | 45.86% | 46.80% | 47.58% |
| D&A For EBITDA | 9.88M | 9.88M | 9.29M | 8.19M | 7.44M | 5.50M |
| EBIT | 374.44M | 324.94M | 316.55M | 245.82M | 240.04M | 169.56M |
| EBIT Margin | 43.62% | 42.81% | 44.40% | 44.38% | 45.40% | 46.09% |
| Effective Tax Rate | 15.83% | 16.25% | 13.39% | 19.33% | 22.84% | 21.18% |
| Revenue as Reported | 858.37M | 758.99M | 712.96M | 553.84M | 528.75M | 367.92M |
Balance sheet
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 337.02M | 360.95M | 229.16M | 114.63M | 99.69M | 72.14M |
| Cash & Short-Term Investments | 337.02M | 360.95M | 229.16M | 114.63M | 99.69M | 72.14M |
| Accounts Receivable | 228.01M | 151.82M | 181.41M | 108.29M | 47.14M | 51.87M |
| Other Receivables | 23.63M | 23.83M | 16.22M | 8.15M | 7.19M | 1.87M |
| Receivables | 251.65M | 175.66M | 197.63M | 116.44M | 54.33M | 53.74M |
| Prepaid Expenses | 11.06M | 13.78M | 11.26M | 11.07M | 9.82M | 6.86M |
| Restricted Cash | 8.00M | 8.01M | 6.33M | 4.99M | 4.80M | 4.02M |
| Total Current Assets | 607.73M | 558.40M | 444.38M | 247.13M | 168.63M | 136.76M |
| Property, Plant & Equipment | 108.69M | 96.42M | 99.00M | 95.44M | 90.75M | 94.48M |
| Long-Term Investments | 776.49M | 774.44M | 664.35M | 603.70M | 530.92M | 503.79M |
| Goodwill | 9.57M | 9.57M | 9.57M | 9.57M | 9.57M | |
| Other Intangible Assets | 1.42M | 2.88M | 4.58M | 6.29M | 12.57M | |
| Long-Term Deferred Tax Assets | 284.25M | 293.09M | 308.52M | 261.89M | 233.91M | 245.05M |
| Other Long-Term Assets | 761.58M | 554.10M | 151.99M | 38.68M | 100.47M | 292.74M |
| Total Assets | 2.54B | 2.30B | 1.69B | 1.27B | 1.14B | 1.29B |
| Accounts Payable | 5.20M | 5.66M | 5.47M | 4.50M | 4.56M | 2.83M |
| Accrued Expenses | 84.71M | 84.15M | 48.56M | 35.98M | 24.19M | 20.12M |
| Short-Term Debt | 15.00M | |||||
| Current Portion of Long-Term Debt | 21.88M | |||||
| Current Portion of Leases | 3.55M | 9.67M | ||||
| Other Current Liabilities | 54.36M | 49.59M | 47.04M | 41.44M | 30.77M | 42.95M |
| Total Current Liabilities | 147.83M | 170.95M | 101.07M | 81.93M | 74.52M | 65.89M |
| Long-Term Debt | 274.20M | 256.55M | 302.49M | 209.23M | 212.76M | 185.14M |
| Long-Term Leases | 87.04M | 68.39M | 78.02M | 79.03M | 78.82M | 82.24M |
| Other Long-Term Liabilities | 337.56M | 342.48M | 284.88M | 225.05M | 200.25M | 224.18M |
| Total Liabilities | 846.63M | 838.36M | 766.46M | 595.24M | 566.35M | 557.46M |
| Common Stock | 55.00K | 56.00K | 55.00K | 55.00K | 54.00K | 53.00K |
| Additional Paid-In Capital | 268.13M | 299.31M | 261.86M | 208.40M | 171.57M | 161.68M |
| Retained Earnings | 670.46M | 614.69M | 455.51M | 316.70M | 243.82M | 185.15M |
| Comprehensive Income & Other | 638.00K | 1.17M | -141.00K | |||
| Total Common Equity | 939.28M | 915.23M | 717.28M | 525.15M | 415.44M | 346.88M |
| Minority Interest | 752.84M | 551.31M | 206.61M | 150.81M | 158.75M | 390.61M |
| Shareholders' Equity | 1.69B | 1.47B | 923.89M | 675.96M | 574.19M | 737.49M |
| Total Liabilities & Equity | 2.54B | 2.30B | 1.69B | 1.27B | 1.14B | 1.29B |
| Total Debt | 364.79M | 356.48M | 380.51M | 288.26M | 306.58M | 267.39M |
| Net Cash (Debt) | -27.77M | 4.48M | -151.35M | -173.63M | -206.89M | -195.25M |
| Net Cash Per Share | -0.51 | 0.08 | -3.75 | -3.22 | -3.85 | -3.64 |
| Filing Date Shares Outstanding | 42.83M | 43.70M | 41.37M | 40.53M | 38.59M | 37.29M |
| Total Common Shares Outstanding | 42.83M | 43.70M | 43.50M | 40.55M | 38.61M | 37.28M |
| Working Capital | 459.90M | 387.45M | 343.31M | 165.21M | 94.11M | 70.87M |
| Book Value Per Share | 21.93 | 20.94 | 16.49 | 12.95 | 10.76 | 9.30 |
| Tangible Book Value | 939.28M | 904.25M | 704.83M | 511.00M | 399.59M | 324.75M |
| Tangible Book Value Per Share | 21.93 | 20.69 | 16.20 | 12.60 | 10.35 | 8.71 |
| Machinery | 33.05M | 29.48M | 22.91M | 17.38M | 14.11M | |
| Leasehold Improvements | 34.30M | 33.32M | 28.37M | 23.26M | 21.98M |
Cash flow statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 275.90M | 249.18M | 217.42M | 140.86M | 109.12M | 145.99M |
| Depreciation & Amortization | 9.88M | 9.88M | 9.29M | 8.19M | 7.44M | 5.50M |
| Loss (Gain) From Sale of Assets | 2.77M | |||||
| Loss (Gain) From Sale of Investments | -95.80M | -85.17M | -21.65M | -785.00K | 10.33M | -59.42M |
| Loss (Gain) on Equity Investments | -45.79M | -53.43M | -30.63M | -36.49M | -6.54M | -79.30M |
| Stock-Based Compensation | 51.26M | 51.15M | 31.41M | 12.13M | 9.95M | 7.40M |
| Other Operating Activities | 234.61M | 211.00M | 155.85M | 39.31M | 112.99M | 171.29M |
| Change in Accounts Receivable | -69.95M | 29.59M | -73.12M | -61.15M | 4.73M | -22.67M |
| Change in Accounts Payable | -1.30M | 190.00K | 964.00K | -54.00K | 1.73M | 654.00K |
| Change in Other Net Operating Assets | 14.34M | 12.54M | 11.30M | 18.85M | -25.93M | 84.00K |
| Operating Cash Flow | 373.13M | 424.92M | 300.82M | 120.85M | 226.59M | 169.52M |
| Capital Expenditures | -6.30M | -5.84M | -12.16M | -11.07M | -4.75M | -8.53M |
| Cash Acquisitions | -1.50M | -10.10M | ||||
| Sale (Purchase) of Intangibles | 2.08M | 3.31M | ||||
| Investment in Securities | -573.99M | -512.42M | -107.50M | -114.42M | 185.29M | -64.60M |
| Other Investing Activities | 32.35M | 23.45M | -1.13M | 12.74M | ||
| Investing Cash Flow | -547.94M | -494.82M | -117.58M | -122.18M | 177.91M | -70.49M |
| Long-Term Debt Issued | 97.66M | 10.00M | 71.68M | 24.93M | ||
| Long-Term Debt Repaid | -12.50M | -3.75M | -27.50M | -29.50M | -16.84M | |
| Net Debt Issued (Repaid) | -15.00M | -12.50M | 93.91M | -17.50M | 42.19M | 8.09M |
| Issuance of Common Stock | 58.61M | 58.61M | 251.20M | 203.92M | 45.62M | 75.69M |
| Repurchase of Common Stock | -75.22M | -24.60M | -5.47M | -3.51M | -280.53M | -3.49M |
| Common Dividends Paid | -143.59M | -141.84M | -119.80M | -109.28M | -135.85M | -97.34M |
| Other Financing Activities | 375.51M | 276.10M | -239.00M | -69.24M | -35.57M | -96.17M |
| Financing Cash Flow | 200.32M | 155.78M | -19.16M | 4.40M | -364.15M | -113.22M |
| Foreign Exchange Rate Adjustments | 2.08M | 2.43M | -102.00K | |||
| Net Cash Flow | 27.59M | 88.30M | 163.99M | 3.07M | 40.35M | -14.18M |
| Free Cash Flow | 366.83M | 419.07M | 288.66M | 109.78M | 221.84M | 161.00M |
| Free Cash Flow Margin | 42.74% | 55.21% | 40.49% | 19.82% | 41.96% | 43.76% |
| Free Cash Flow Per Share | 6.75 | 7.69 | 7.16 | 2.04 | 4.13 | 3.00 |
| Levered Free Cash Flow | 231.40M | 305.03M | 156.55M | 118.06M | 146.59M | 89.61M |
| Unlevered Free Cash Flow | 240.52M | 314.37M | 164.88M | 125.04M | 151.97M | 92.51M |
| Cash Interest Paid | 11.85M | 11.85M | 10.40M | 11.05M | 8.47M | 4.59M |
| Cash Income Tax Paid | 54.43M | 54.43M | 27.04M | 39.76M | 50.88M | 33.68M |
| Change in Working Capital | -56.92M | 42.31M | -60.86M | -42.36M | -19.47M | -21.93M |
Ratios
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.87B | 4.37B | 6.44B | 4.56B | 2.86B | 2.87B |
| Enterprise Value | 4.90B | 4.85B | 6.75B | 4.84B | 3.14B | 3.44B |
| Last Close Price | 83.91 | 97.99 | 144.10 | 107.80 | 69.40 | 70.81 |
| PE Ratio | 13.47 | 17.53 | 29.63 | 32.39 | 25.28 | 19.57 |
| Forward PE | 12.80 | 16.24 | 30.26 | 26.41 | 21.15 | 23.50 |
| PS Ratio | 5.49 | 5.75 | 9.04 | 8.24 | 5.40 | 7.81 |
| PB Ratio | 3.83 | 2.98 | 6.97 | 6.75 | 4.97 | 3.90 |
| P/TBV Ratio | 5.02 | 4.83 | 9.14 | 8.93 | 7.14 | 8.85 |
| P/FCF Ratio | 12.85 | 10.42 | 22.32 | 41.56 | 12.87 | 17.86 |
| P/OCF Ratio | 12.64 | 10.28 | 21.42 | 37.75 | 12.60 | 16.96 |
| PEG Ratio | 3.28 | 3.03 | 1.89 | 19.77 | 1.81 | |
| EV/Sales Ratio | 5.53 | 6.39 | 9.47 | 8.75 | 5.93 | 9.34 |
| EV/EBITDA Ratio | 12.34 | 14.48 | 20.73 | 19.07 | 12.68 | 19.64 |
| EV/EBIT Ratio | 12.67 | 14.92 | 21.33 | 19.71 | 13.07 | 20.27 |
| EV/FCF Ratio | 12.93 | 11.57 | 23.39 | 44.13 | 14.14 | 21.35 |
| Debt / Equity Ratio | 0.22 | 0.24 | 0.41 | 0.43 | 0.53 | 0.36 |
| Debt / EBITDA Ratio | 0.92 | 1.03 | 1.13 | 1.09 | 1.19 | 1.44 |
| Debt / FCF Ratio | 0.99 | 0.85 | 1.32 | 2.63 | 1.38 | 1.66 |
| Net Debt / Equity Ratio | 0.02 | -0.00 | 0.16 | 0.26 | 0.36 | 0.27 |
| Net Debt / EBITDA Ratio | 0.07 | -0.01 | 0.46 | 0.68 | 0.84 | 1.11 |
| Net Debt / FCF Ratio | 0.08 | -0.01 | 0.52 | 1.58 | 0.93 | 1.21 |
| Asset Turnover | 0.40 | 0.38 | 0.48 | 0.46 | 0.43 | 0.30 |
| Quick Ratio | 3.98 | 3.14 | 4.22 | 2.82 | 2.07 | 1.91 |
| Current Ratio | 4.11 | 3.27 | 4.40 | 3.02 | 2.26 | 2.08 |
| Return on Equity (ROE) | 32.42% | 32.44% | 39.23% | 36.35% | 28.54% | 37.25% |
| Return on Assets (ROA) | 10.78% | 10.17% | 13.36% | 12.74% | 12.32% | 8.72% |
| Return on Invested Capital (ROIC) | 19.81% | 21.45% | 28.49% | 24.32% | 21.61% | 15.80% |
| Return on Capital Employed (ROCE) | 15.70% | 15.20% | 19.90% | 20.70% | 22.50% | 13.80% |
| Earnings Yield | 7.42% | 5.71% | 3.37% | 3.09% | 3.82% | 5.08% |
| FCF Yield | 7.78% | 9.59% | 4.48% | 2.41% | 7.77% | 5.60% |
| Dividend Yield | 2.71% | 2.16% | 1.32% | 1.58% | 2.16% | 1.82% |
| Payout Ratio | 36.57% | 56.92% | 55.10% | 77.58% | 124.50% | 66.68% |
| Buyback Yield / Dilution | -34.50% | -35.13% | 25.22% | -0.38% | -0.04% | -60.88% |
| Total Shareholder Return | -31.64% | -32.97% | 26.54% | 1.20% | 2.12% | -59.07% |