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Hamilton Lane

HLNE Nasdaq Asset Management & Custody Banks Financials FY2017–FY2026

Hamilton Lane's revenue rose 6.5% to $759 million in fiscal 2026. Its net margin was 32.8%, up from 30.5% a year earlier. Free cash flow was $419 million, up 45.2%. It paid out $88 million in dividends and buybacks, 21% of free cash flow.

Last close · Oct 23, 2026

$82.27

3.6%
Value it Compare
Revenue Total sales reported in the income statement.
$759M
6.5% vs prior year
Operating margin Operating income as a share of revenue.
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Net income Profit after all expenses, interest and tax.
$249M
14.6%
Free cash flow Cash from operations minus capital spending.
$419M
45.2%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
34.5%
3.8 pts
Market cap Last close times the latest diluted share count, so it is approximate.
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Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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What Hamilton Lane does

No business description yet.

Legal name
HAMILTON LANE INC
Fiscal year ends
March 31, 2026
Latest annual report
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Accession · CIK
0001433642-26-000019
0001433642

Revenue and margins

Hamilton Lane had $759M of revenue in fiscal 2026, up 6.5% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $419M in fiscal 2026, 55.2% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Hamilton Lane returned $87.7M to shareholders in fiscal 2026, 21% of free cash flow. The diluted share count rose 0.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Hamilton Lane yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

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Adds net cash of $93.5M and divides by 0.0M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

Cash, debt and the ratios that show how comfortably Hamilton Lane can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $76.2M$117M$120M$284M$372M
Debt incl. finance leases $171M$214M$196M$290M$278M
Net debt / EBITDA 0.3x0.4x0.3x0.0x−0.2x
Debt / equity 0.5x0.5x0.4x0.4x0.3x
Interest coverage 69.3x29.7x26.5x35.8x40.1x
Total assets $1.3B$1.1B$1.3B$1.7B$2.3B
Total liabilities $558M$566M$595M$767M$838M
Shareholders' equity $347M$415M$525M$717M$915M
Net debt (− = net cash) $95.1M$96.9M$76.6M$6.7M−$93.5M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$19.5M

6 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

DateInsiderTradeSharesPriceValueFiling
Jun 11, 2026 Andrea Anigati KramerChief Operating Officer, 10% owner Bought 1,283 $77.46 $0.1M Form 4
Jun 11, 2026 David J BerkmanDirector Bought 15,000 $76.27 $1.1M Form 4
Jun 11, 2026 Hartley R. RogersExecutive Co-Chairman, Director, 10% owner Bought 38,290 $78.49 $3.0M Form 4
May 27, 2026 Hartley R. RogersExecutive Co-Chairman, Director, 10% owner Bought 932 $92.72 $0.1M Form 4
May 26, 2026 Hartley R. RogersExecutive Co-Chairman, Director, 10% owner Bought 110,000 $90.05 $9.9M Form 4
Feb 24, 2026 David J BerkmanDirector Bought 10,000 $101.00 $1.0M Form 4
Feb 20, 2026 Andrea Anigati KramerChief Operating Officer, 10% owner Bought 2,325 $107.53 $0.3M Form 4
Feb 20, 2026 Erik R. HirschCo-Chief Executive Officer, Director, 10% owner Bought 9,225 $107.13 $1.0M Form 4
Feb 20, 2026 Juan Delgado-MoreiraCo-Chief Executive Officer, Director, 10% owner Bought 9,225 $107.24 $1.0M Form 4
Feb 20, 2026 Mario L GianniniExecutive Co-Chairman, 10% owner Bought 9,225 $107.32 $1.0M Form 4
Nov 7, 2025 Juan Delgado-MoreiraCo-Chief Executive Officer, Director, 10% owner Bought 8,000 $130.35 $1.0M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✕
Cash from operations exceeds net income ✕ ✓ ✓
Debt fell relative to assets ✓ ✕ ✓
Current ratio rose — — —
Share count didn't rise — — —
Gross margin rose — — —
Revenue rose relative to assets ✓ ✓ ✕
F-score — / 9— / 9— / 9
Accruals ratio 1.7%−5.6%−8.8%
Altman Z'' ———

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Hamilton Lane HLNE — 6.5% — 55.2% 34.5% — —
Federated Hermes FHI $4.1B 10.3% 28.5% 16.4% 40.9% 10.6x 7 Compare →
Affiliated Managers Group AMG $10.3B 1.6% — 46.6% 16.5% 13.4x — Compare →
SEI Investments SEIC $12.6B 8.1% 27.3% 25.5% — 18.0x — Compare →
Blue Owl Capital OWL $6.4B 25.0% — 41.8% 5.2% 78.0x — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $180M $244M $252M $274M $342M $368M $529M $554M $713M $759M
Interest expense $14.6M $6.0M $3.0M $2.8M $2.0M $4.6M $8.5M $11.0M $10.4M $11.8M
Pretax income $74.8M $140M $130M $141M $193M $314M $243M $282M $362M $463M
Income tax $0.3M $33.3M $30.6M $14.0M $24.4M $66.4M $55.4M $54.5M $48.5M $75.2M
Net income $0.6M $17.3M $33.6M $60.8M $98.0M $146M $109M $141M $217M $249M
Diluted EPS — — $1.40 $2.15 $2.81 $3.98 — — — —
Cash flow
Cash from operations $81.7M $96.7M $112M $116M $188M $170M $227M $121M $301M $425M
Capital expenditure $1.3M $2.3M $5.4M $2.0M $18.6M $8.5M $4.7M $11.1M $12.2M $5.8M
Free cash flow $80.4M $94.4M $106M $114M $170M $161M $222M $110M $289M $419M
Depreciation and amortization $1.9M $1.9M $3.0M $3.3M $4.1M $5.5M $7.4M $8.2M $9.3M $9.9M
Stock-based compensation $4.7M $5.5M $6.4M $7.2M $7.1M $7.4M $9.9M $12.1M $31.4M $50.9M
Acquisitions $0.0M $5.2M $0.0M $0.0M $0.0M $10.1M $1.5M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends paid $0.0M $9.5M $18.7M $29.1M $39.7M $49.6M $72.4M $65.4M $76.0M $87.7M
Dividends and buybacks $0.0M $9.5M $18.7M $29.1M $39.7M $49.6M $72.4M $65.4M $76.0M $87.7M
Balance sheet
Cash and short-term investments $32.3M $47.6M $49.4M $50.1M $87.0M $76.2M $117M $120M $284M $372M
Total debt — — — $74.7M $163M $171M $214M $196M $290M $278M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $4.1M $4.8M $8.1M $7.4M $23.3M $28.8M $28.4M $33.0M $37.6M $35.0M
Total assets $241M $294M $361M $474M $1.1B $1.3B $1.1B $1.3B $1.7B $2.3B
Total liabilities $154M $158M $191M $236M $546M $558M $566M $595M $767M $838M
Shareholders' equity $60.0M $78.4M $110M $155M $238M $347M $415M $525M $717M $915M
Margins
EBITDA margin 50.7% 60.5% 53.8% 53.6% 58.4% 88.0% 48.9% 54.3% 53.6% 63.9%
Net margin 0.3% 7.1% 13.3% 22.2% 28.7% 39.7% 20.6% 25.4% 30.5% 32.8%
FCF margin 44.7% 38.7% 42.1% 41.7% 49.6% 43.8% 42.0% 19.8% 40.5% 55.2%
Returns
Return on capital — — — — 52.3% 53.0% 31.6% 33.2% 38.4% 34.5%
Return on equity — 25.1% 35.6% 45.9% 49.9% 49.9% 28.6% 30.0% 35.0% 30.5%
Return on assets — 6.5% 10.3% 14.6% 12.2% 12.0% 9.0% 11.7% 14.7% 12.5%
Growth
Revenue growth — 35.7% 3.3% 8.7% 24.7% 7.7% 43.7% 4.7% 28.7% 6.5%
Net income growth — 2,733.5% 93.6% 81.2% 61.2% 48.9% −25.3% 29.1% 54.4% 14.6%
EPS growth — — — 53.6% 30.7% 41.6% — — — —
FCF growth −25.7% 17.5% 12.5% 7.7% 48.2% −5.0% 37.8% −50.5% 163.0% 45.2%
Financial health
Net debt / EBITDA — — — 0.2x 0.4x 0.3x 0.4x 0.3x 0.0x −0.2x
Debt / equity — — — 0.5x 0.7x 0.5x 0.5x 0.4x 0.4x 0.3x
Interest coverage 6.1x 24.3x 43.6x 51.0x 95.5x 69.3x 29.7x 26.5x 35.8x 40.1x
Capital allocation
Capex / revenue 0.7% 0.9% 2.1% 0.7% 5.5% 2.3% 0.9% 2.0% 1.7% 0.8%
Stock comp / revenue 2.6% 2.3% 2.5% 2.6% 2.1% 2.0% 1.9% 2.2% 4.4% 6.7%
Payouts / FCF 0.0% 10.1% 17.6% 25.4% 23.4% 30.8% 32.6% 59.6% 26.3% 20.9%
Quality scores
Accruals ratio — −29.7% −23.9% −13.3% −11.2% −1.9% −9.7% 1.7% −5.6% −8.8%

Source: SEC EDGAR XBRL filings (CIK 0001433642). Data updated October 18, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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