Compare
Morningstar, Inc. vs Houlihan Lokey, Inc. vs Lazard, Inc. vs Federated Hermes, Inc.
| Latest fiscal year | Morningstar, Inc. MORN | Houlihan Lokey, Inc. HLI | Lazard, Inc. LAZ | Federated Hermes, Inc. FHI |
|---|---|---|---|---|
| Year ended | 2025-12-31 | 2026-03-31 | 2025-12-31 | 2025-12-31 |
| Revenue | $2.45B | $2.62B | $3.10B | $1.80B |
| Revenue growth (YoY) | +7.5% | +9.5% | +1.5% | +10.3% |
| Gross margin | 61.0% (computed) | n/a | n/a | n/a |
| Operating margin | 21.5% | 20.1% | 10.6% | 28.5% |
| Net margin | 15.3% | 16.2% | 7.6% | 22.4% |
| Net income | $374.20M | $424.17M | $236.83M | $403.30M |
| EPS (Diluted) | $8.87 | $6.22 | $2.17 | $5.13 |
| Operating cash flow | $589.70M | $704.13M | $519.33M | $297.35M |
| Free cash flow | $442.60M | $681.82M | $487.38M | $294.58M |
| Cash & equivalents | $474.50M | $1.19B | $1.47B | $582.54M |
| Total assets | $3.59B | $4.31B | $4.94B | $2.23B |
| Total liabilities | $2.37B | $1.86B | $3.95B | $965.86M |
| Shareholders' equity | $1.22B | $2.34B | $910.75M | $1.20B |
| Return on year-end equity | 30.6% | 18.1% | 26.0% | 33.7% |
| Shares outstanding | 39.74M | n/a | n/a | n/a |
Revenue, most recent five fiscal years
| Fiscal year | Morningstar, Inc. | Houlihan Lokey, Inc. | Lazard, Inc. | Federated Hermes, Inc. |
|---|---|---|---|---|
| Latest | $2.45B Ended 2025-12-31 | $2.62B Ended 2026-03-31 | $3.10B Ended 2025-12-31 | $1.80B Ended 2025-12-31 |
| 1 year earlier | $2.28B Ended 2024-12-31 | $2.39B Ended 2025-03-31 | $3.05B Ended 2024-12-31 | $1.63B Ended 2024-12-31 |
| 2 years earlier | $2.04B Ended 2023-12-31 | $1.91B Ended 2024-03-31 | $2.52B Ended 2023-12-31 | $1.61B Ended 2023-12-31 |
| 3 years earlier | $1.87B Ended 2022-12-31 | $1.81B Ended 2023-03-31 | $2.77B Ended 2022-12-31 | $1.45B Ended 2022-12-31 |
| 4 years earlier | $1.70B Ended 2021-12-31 | $2.27B Ended 2022-03-31 | $3.19B Ended 2021-12-31 | $1.30B Ended 2021-12-31 |