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Hamilton Lane INC

HLNE Clue Score89
United States Fiscal year ends March CIK 0001433642
$85.67 +0.01% Close, 9 Oct 2026
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Price $85.67 −3.88% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 1 Mar 2017. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueNet income
Fiscal year 2017Revenue179.8Net income0.6Fiscal year 2018Revenue244.0 +35.7%Net income17.3 +2,733.5%Fiscal year 2019Revenue252.2 +3.3%Net income33.6 +93.6%EPS, diluted1.40Fiscal year 2020Revenue274.0 +8.7%Net income60.8 +81.2%EPS, diluted2.15 +53.6%Fiscal year 2021Revenue341.6 +24.7%Net income98.0 +61.2%EPS, diluted2.81 +30.7%Fiscal year 2022Revenue367.9 +7.7%Net income146.0 +48.9%EPS, diluted3.98 +41.6%Fiscal year 2023Revenue528.8 +43.7%Net income109.1 −25.3%Fiscal year 2024Revenue553.8 +4.7%Net income140.9 +29.1%Fiscal year 2025Revenue713.0 +28.7%Net income217.4 +54.4%Fiscal year 2026Revenue759.0 +6.5%Net income249.2 +14.6%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue 179.8 244.0 252.2 274.0 341.6 367.9 528.8 553.8 713.0 759.0
Growth +35.7% +3.3% +8.7% +24.7% +7.7% +43.7% +4.7% +28.7% +6.5%
Net income 0.6 17.3 33.6 60.8 98.0 146.0 109.1 140.9 217.4 249.2
Growth +2,733.5% +93.6% +81.2% +61.2% +48.9% −25.3% +29.1% +54.4% +14.6%
EPS, diluted n/a n/a 1.40 2.15 2.81 3.98 n/a n/a n/a n/a
Growth +53.6% +30.7% +41.6%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Net margin
Fiscal year 2017Net margin0.3%Free cash flow margin44.7%Fiscal year 2018Net margin7.1%Free cash flow margin38.7%Fiscal year 2019Net margin13.3%Free cash flow margin42.1%Fiscal year 2020Net margin22.2%Free cash flow margin41.7%Fiscal year 2021Net margin28.7%Free cash flow margin49.6%Fiscal year 2022Net margin39.7%Free cash flow margin43.8%Fiscal year 2023Net margin20.6%Free cash flow margin42.0%Fiscal year 2024Net margin25.4%Free cash flow margin19.8%Fiscal year 2025Net margin30.5%Free cash flow margin40.5%Fiscal year 2026Net margin32.8%Free cash flow margin55.2%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Net margin 0.3% 7.1% 13.3% 22.2% 28.7% 39.7% 20.6% 25.4% 30.5% 32.8%
Free cash flow margin 44.7% 38.7% 42.1% 41.7% 49.6% 43.8% 42.0% 19.8% 40.5% 55.2%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow81.7Capital expenditure−1.3Free cash flow80.4Dividends paid0.0Fiscal year 2018Operating cash flow96.7Capital expenditure−2.3Free cash flow94.4 +17.5%Buybacks−0.0Dividends paid−9.5Fiscal year 2019Operating cash flow111.6Capital expenditure−5.4Free cash flow106.3 +12.5%Buybacks−0.0Dividends paid−18.7Fiscal year 2020Operating cash flow116.4Capital expenditure−2.0Free cash flow114.4 +7.7%Buybacks−0.0Dividends paid−29.1Fiscal year 2021Operating cash flow188.2Capital expenditure−18.6Free cash flow169.5 +48.2%Buybacks−0.0Dividends paid−39.7Fiscal year 2022Operating cash flow169.5Capital expenditure−8.5Free cash flow161.0 −5.0%Buybacks−0.0Dividends paid−49.6Fiscal year 2023Operating cash flow226.6Capital expenditure−4.7Free cash flow221.8 +37.8%Buybacks0.0Dividends paid−72.4Fiscal year 2024Operating cash flow120.9Capital expenditure−11.1Free cash flow109.8 −50.5%Buybacks−0.0Dividends paid−65.4Fiscal year 2025Operating cash flow300.8Capital expenditure−12.2Free cash flow288.7 +163.0%Buybacks−0.0Dividends paid−76.0Fiscal year 2026Operating cash flow424.9Capital expenditure−5.8Free cash flow419.1 +45.2%Dividends paid−87.7
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow 81.7 96.7 111.6 116.4 188.2 169.5 226.6 120.9 300.8 424.9
Capital expenditure −1.3 −2.3 −5.4 −2.0 −18.6 −8.5 −4.7 −11.1 −12.2 −5.8
Free cash flow 80.4 94.4 106.3 114.4 169.5 161.0 221.8 109.8 288.7 419.1
Growth +17.5% +12.5% +7.7% +48.2% −5.0% +37.8% −50.5% +163.0% +45.2%
Buybacks n/a −0.0 −0.0 −0.0 −0.0 −0.0 0.0 −0.0 −0.0 n/a
Dividends paid 0.0 −9.5 −18.7 −29.1 −39.7 −49.6 −72.4 −65.4 −76.0 −87.7

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash32.3Total debt84.3Net cash (debt)−52.0Shareholders’ equity60.0Debt to equity1.40Fiscal year 2018Cash47.6Total debt84.2Net cash (debt)−36.6Shareholders’ equity78.4Debt to equity1.07Fiscal year 2019Cash49.4Total debt71.0Net cash (debt)−21.6Shareholders’ equity110.2Debt to equity0.64Fiscal year 2020Cash50.1Total debt74.7Net cash (debt)−24.6Shareholders’ equity154.8Debt to equity0.48Fiscal year 2021Cash87.0Total debt163.2Net cash (debt)−76.2Shareholders’ equity238.1Debt to equity0.69Fiscal year 2022Cash76.2Total debt171.3Net cash (debt)−95.1Shareholders’ equity346.9Debt to equity0.49Fiscal year 2023Cash116.6Total debt213.5Net cash (debt)−97.0Shareholders’ equity415.4Debt to equity0.51Fiscal year 2024Cash119.6Total debt196.2Net cash (debt)−76.5Shareholders’ equity525.2Debt to equity0.37Fiscal year 2025Cash283.6Total debt290.3Net cash (debt)−6.7Shareholders’ equity717.3Debt to equity0.40Fiscal year 2026Cash371.9Total debt278.4Net cash (debt)93.5Shareholders’ equity915.2Debt to equity0.30
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash 32.3 47.6 49.4 50.1 87.0 76.2 116.6 119.6 283.6 371.9
Total debt 84.3 84.2 71.0 74.7 163.2 171.3 213.5 196.2 290.3 278.4
Net cash (debt) −52.0 −36.6 −21.6 −24.6 −76.2 −95.1 −97.0 −76.5 −6.7 93.5
Shareholders’ equity 60.0 78.4 110.2 154.8 238.1 346.9 415.4 525.2 717.3 915.2
Debt to equity 1.40 1.07 0.64 0.48 0.69 0.49 0.51 0.37 0.40 0.30

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending March, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 5 Mar 2017 FY2017 31 Mar 2017 FY2018 31 Mar 2018 FY2019 31 Mar 2019 FY2020 31 Mar 2020 FY2021 31 Mar 2021 FY2022 31 Mar 2022 FY2023 31 Mar 2023 FY2024 31 Mar 2024 FY2025 31 Mar 2025 FY2026 31 Mar 2026
Margins
n/a 41.6% 57.2% 51.4% 51.4% 56.6% 85.3% 45.9% 50.9% 50.8% 61.0%
n/a 0.3% 7.1% 13.3% 22.2% 28.7% 39.7% 20.6% 25.4% 30.5% 32.8%
n/a 44.7% 38.7% 42.1% 41.7% 49.6% 43.8% 42.0% 19.8% 40.5% 55.2%
Spending
n/a n/a n/a 19.4% 21.0% 14.4% n/a n/a n/a n/a n/a
n/a 0.7% 0.9% 2.1% 0.7% 5.5% 2.3% 0.9% 2.0% 1.7% 0.8%
n/a 0.4% 23.9% 23.6% 9.9% 12.6% 21.2% 22.8% 19.3% 13.4% 16.2%
Returns
n/a 1.0% 22.1% 30.5% 39.3% 41.2% 42.1% 26.3% 26.8% 30.3% 27.2%
n/a 0.3% 5.9% 9.3% 12.8% 8.6% 11.3% 9.6% 11.1% 12.9% 10.8%
Balance and payout
n/a 1.40 1.07 0.64 0.48 0.69 0.49 0.51 0.37 0.40 0.30
n/a 64.0% 53.7% 52.9% 49.9% 48.1% 43.0% 49.7% 46.8% 45.3% 36.4%
n/a 0.0% 54.8% 55.6% 47.8% 40.5% 34.0% 66.4% 46.4% 35.0% 35.2%
n/a 0.0% 10.1% 17.6% 25.4% 23.4% 30.8% 32.6% 59.6% 26.3% 20.9%