HLI vs. NDAQ: Houlihan Lokey vs. Nasdaq Stock Comparison

November 11, 2026

How do Houlihan Lokey (HLI) and Nasdaq (NDAQ) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Houlihan Lokey (HLI) and Nasdaq (NDAQ) both belong to the Capital Markets industry, though HLI is classified under Investment Banking & Brokerage while NDAQ falls under Financial Exchanges & Data.

Company profile comparison for Houlihan Lokey (HLI) and Nasdaq (NDAQ)
Profile Item	HLI	NDAQ
Name	Houlihan Lokey, Inc.	Nasdaq, Inc. Common Stock
Country/Region	United States	United States
GICS Sector	Financials	Financials
GICS Industry Group	Financial Services	Financial Services
GICS Industry	Capital Markets	Capital Markets
GICS Sub-Industry	Investment Banking & Brokerage	Financial Exchanges & Data
Market Capitalization	10.13 billion USD	59.88 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	August 13, 2015	July 1, 2002
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

HLI

NDAQ

GSPC

Houlihan Lokey (HLI) vs. Nasdaq (NDAQ), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Houlihan Lokey (HLI) and Nasdaq (NDAQ). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Houlihan Lokey (HLI) and Nasdaq (NDAQ). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Houlihan Lokey (HLI) and Nasdaq (NDAQ)
Metric	HLI	NDAQ
Total Return (1Y)	-16.23%	26.55%
Total Return (3Y, Annualized)	15.13%	30.18%
Total Return (5Y, Annualized)	6.74%	10.68%

Risk Profile

Drawdown History

HLI

NDAQ

GSPC

Houlihan Lokey (HLI) vs. Nasdaq (NDAQ), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Houlihan Lokey (HLI) and Nasdaq (NDAQ). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Houlihan Lokey (HLI) and Nasdaq (NDAQ)
Metric	HLI	NDAQ
Volatility (1Y, Annualized)	31.00%	28.74%
Beta (5Y)	0.87	0.94
Max Drawdown (5Y)	-40.30%	-32.57%
Avg. Volume (3M)	816.85K	3.13M

Risk-Adjusted Performance

Risk-Return Positioning

HLI and NDAQ are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Houlihan Lokey (HLI) and Nasdaq (NDAQ)
Metric	HLI	NDAQ
Sharpe Ratio (1Y)	-0.66	0.77
Sortino Ratio (1Y)	-0.91	1.09

Profitability

ROE (TTM)

Both Houlihan Lokey (HLI) at 17.29% and Nasdaq (NDAQ) at 17.33% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

HLI

Financial Services industry group

17.29%

Max: 44.78%
Q3: 21.85%
HLI: 17.29%
Median: 12.91%
Q1: 4.48%
Min: -18.71%

NDAQ

Financial Services industry group

17.33%

Max: 44.78%
Q3: 21.85%
NDAQ: 17.33%
Median: 12.91%
Q1: 4.48%
Min: -18.71%

Houlihan Lokey (HLI) vs. Nasdaq (NDAQ): A comparison of their ROE against the Financial Services industry group benchmark.

Net Margin (TTM)

Nasdaq (NDAQ) at 36.06% retains a top-quartile share of revenue as profit, ahead of Houlihan Lokey (HLI) at 15.80%, which keeps about the industry-typical share.

HLI

Financial Services industry group

15.80%

Max: 62.84%
Q3: 28.05%
HLI: 15.80%
Median: 15.36%
Q1: 4.82%
Min: -28.52%

NDAQ

Financial Services industry group

36.06%

Max: 62.84%
NDAQ: 36.06%
Q3: 28.05%
Median: 15.36%
Q1: 4.82%
Min: -28.52%

Houlihan Lokey (HLI) vs. Nasdaq (NDAQ): A comparison of their net margin against the Financial Services industry group benchmark.

Operating Margin (TTM)

Both Houlihan Lokey (HLI) at 24.42% and Nasdaq (NDAQ) at 50.57% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

HLI

Financial Services industry group

24.42%

Max: 107.33%
Q3: 55.90%
Median: 30.09%
HLI: 24.42%
Q1: 14.60%
Min: -44.34%

NDAQ

Financial Services industry group

50.57%

Max: 107.33%
Q3: 55.90%
NDAQ: 50.57%
Median: 30.09%
Q1: 14.60%
Min: -44.34%

Houlihan Lokey (HLI) vs. Nasdaq (NDAQ): A comparison of their operating margin against the Financial Services industry group benchmark.

Profitability Metrics

Profitability metrics for Houlihan Lokey (HLI) and Nasdaq (NDAQ)
Metric	HLI	NDAQ
ROE (TTM)	17.29%	17.33%
ROA (TTM)	10.38%	6.10%
Net Margin (TTM)	15.80%	36.06%
Operating Margin (TTM)	24.42%	50.57%
Gross Margin (TTM)	--	--

Growth

Revenue Growth

Both Houlihan Lokey (HLI) at 9.55% and Nasdaq (NDAQ) at 11.65% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Houlihan Lokey (HLI) vs. Nasdaq (NDAQ): A comparison of their Revenue Growth across different time periods.

EPS Growth

Nasdaq (NDAQ) at 60.10% sits in the top EPS growth quartile, while Houlihan Lokey (HLI) at 6.87% is closer to the peer norm — faster per-share earnings growth for NDAQ.

Houlihan Lokey (HLI) vs. Nasdaq (NDAQ): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Houlihan Lokey (HLI) and Nasdaq (NDAQ)
Metric	HLI	NDAQ
Revenue Growth (YoY)	9.55%	11.65%
Revenue Growth (3Y CAGR)	13.10%	9.89%
EPS Growth (YoY)	6.87%	60.10%
EPS Growth (3Y CAGR)	16.05%	10.99%

Financial Strength

Current Ratio (MRQ)

current ratio doesn’t apply on either side: Houlihan Lokey (HLI) in Financial Services and Nasdaq (NDAQ) in Financial Services both report balance sheets without a current/non-current split, so their short-term liquidity is better judged through regulatory and funding measures.

Debt / Equity (MRQ)

debt-to-equity ratio is set aside for both: Houlihan Lokey (HLI) in Financial Services and Nasdaq (NDAQ) in Financial Services run businesses where balance-sheet leverage is part of the model, so capital-adequacy and funding measures are the better gauges of balance-sheet risk.

Financial Strength Metrics

Financial strength metrics for Houlihan Lokey (HLI) and Nasdaq (NDAQ)
Metric	HLI	NDAQ
Current Ratio (MRQ)	--	--
Debt / Equity (MRQ)	--	--
Net Debt / EBITDA	--	--

Dividends

Dividend Yield (TTM)

Both Houlihan Lokey (HLI) at 1.77% and Nasdaq (NDAQ) at 1.09% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.

HLI

Financial Services industry group

1.77%

Max: 9.77%
Q3: 3.92%
HLI: 1.77%
Median: 1.09%
Q1: 0.00%
Min: 0.00%

NDAQ

Financial Services industry group

1.09%

Max: 9.77%
Q3: 3.92%
Median: 1.09%
NDAQ: 1.09%
Q1: 0.00%
Min: 0.00%

Houlihan Lokey (HLI) vs. Nasdaq (NDAQ): A comparison of their dividend yield against the Financial Services industry group benchmark.

Dividend Payout Ratio (TTM)

Both Houlihan Lokey (HLI) at 43.62% and Nasdaq (NDAQ) at 31.69% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

HLI

Financial Services industry group

43.62%

Max: 241.07%
Q3: 97.36%
HLI: 43.62%
Median: 25.77%
Q1: 0.00%
Min: 0.00%

NDAQ

Financial Services industry group

31.69%

Max: 241.07%
Q3: 97.36%
NDAQ: 31.69%
Median: 25.77%
Q1: 0.00%
Min: 0.00%

Houlihan Lokey (HLI) vs. Nasdaq (NDAQ): A comparison of their payout ratio against the Financial Services industry group benchmark.

Dividend Metrics

Dividend metrics for Houlihan Lokey (HLI) and Nasdaq (NDAQ)
Metric	HLI	NDAQ
Dividend Yield (TTM)	1.77%	1.09%
Dividend Payout Ratio (TTM)	43.62%	31.69%

Valuation

P/E Ratio (TTM)

Houlihan Lokey (HLI) at 24.47 is near its industry’s usual P/E ratio, while Nasdaq (NDAQ) at 29.27 sits in the richer quartile — NDAQ needs stronger growth or earnings quality to justify the premium.

HLI

Financial Services industry group

24.47

Max: 45.85
Q3: 24.64
HLI: 24.47
Median: 15.37
Q1: 9.68
Min: 0.16

NDAQ

Financial Services industry group

29.27

Max: 45.85
NDAQ: 29.27
Q3: 24.64
Median: 15.37
Q1: 9.68
Min: 0.16

Houlihan Lokey (HLI) vs. Nasdaq (NDAQ): A comparison of their P/E ratio against the Financial Services industry group benchmark.

P/S Ratio (TTM)

Houlihan Lokey (HLI) at 3.96 prices around its industry’s typical P/S ratio, while Nasdaq (NDAQ) at 10.36 clears its benchmark range — NDAQ looks notably rich on sales.

HLI

Financial Services industry group

3.96

Max: 9.23
Q3: 4.57
HLI: 3.96
Median: 2.72
Q1: 1.28
Min: -0.55

NDAQ

Financial Services industry group

10.36

NDAQ: 10.36
Max: 9.23
Q3: 4.57
Median: 2.72
Q1: 1.28
Min: -0.55

Houlihan Lokey (HLI) vs. Nasdaq (NDAQ): A comparison of their P/S ratio against the Financial Services industry group benchmark.

P/B Ratio (MRQ)

Both Houlihan Lokey (HLI) at 4.39 and Nasdaq (NDAQ) at 4.99 carry a premium to book value versus peers, sitting in the upper P/B ratio quartile of their industries.

HLI

Financial Services industry group

4.39

Max: 7.79
HLI: 4.39
Q3: 3.63
Median: 1.57
Q1: 0.81
Min: -0.39

NDAQ

Financial Services industry group

4.99

Max: 7.79
NDAQ: 4.99
Q3: 3.63
Median: 1.57
Q1: 0.81
Min: -0.39

Houlihan Lokey (HLI) vs. Nasdaq (NDAQ): A comparison of their P/B ratio against the Financial Services industry group benchmark.

Valuation Metrics

Valuation metrics for Houlihan Lokey (HLI) and Nasdaq (NDAQ)
Metric	HLI	NDAQ
P/E Ratio (TTM)	24.47	29.27
P/S Ratio (TTM)	3.96	10.36
P/B Ratio (MRQ)	4.39	4.99
Free Cash Flow Yield (TTM)	--	--