HLNE · CIK 0001433642

HAMILTON LANE INCORPORATED

Annual figures as reported, FY2015–FY2026. Ratios and growth rates derived on-page.

Revenue

$759.0M

▲ +6.5% vs FY2025

Net income

$249.2M

▲ +14.6% vs FY2025

Free cash flow

$419.1M

▲ +45.2% vs FY2025

Total assets

$2.3B

▲ +36.4% vs FY2025

Revenue

Annual, as reported

Net income

Annual, as reported

Recent quarters

momentum · last 12 quarters

Revenue — Mar ’26 quarter

$193.6M

▼ −2.2% vs Mar ’25

Net income — Mar ’26 quarter

$66.2M

▲ +31.0% vs Mar ’25

Revenue — trailing 12 months

$759.0M

▲ +6.5% vs Mar ’25

Quarterly revenue

Discrete quarters; Q4 derived from the annual figure

Quarterly net income

Discrete quarters; Q4 derived from the annual figure

Quarter	Revenue	Rev. YoY	Gross margin	Net income	Net margin	Diluted EPS
Mar ’26	$193.6M	−2.2%	—	$66.2M	34.2%	—
Dec ’25	$198.6M	18.0%	—	$58.4M	29.4%	—
Sep ’25	$190.9M	27.3%	—	$70.9M	37.1%	—
Jun ’25	$176.0M	−10.6%	—	$53.7M	30.5%	—
Mar ’25	$198.0M	12.1%	—	$50.5M	25.5%	—
Dec ’24	$168.3M	34.3%	—	$53.0M	31.5%	—
Sep ’24	$150.0M	18.2%	—	$55.0M	36.7%	—
Jun ’24	$196.7M	57.3%	—	$59.0M	30.0%	—

Profitability & returns

quality of earnings

Margins

Share of revenue kept at each line

Returns on capital

Net income vs year-end equity and assets

Return on equityReturn on assets

Cash flow

cash generation

Free cash flow

Operating cash flow less capital expenditure

Operating cash flow

Net cash from operations

Shareholder returns

capital allocation

Capital returned

Cash paid out as dividends and share repurchases

Dividends paidBuybacks

Balance sheet

financial position

Stockholders’ equity

At fiscal year end

Net debt

Long-term debt less cash — negative means net cash

Growth rates

compounding, annualized

Revenue CAGR

+12.8%

+17.3%

Net income CAGR

+31.7%

+20.5%

Free cash flow CAGR

+23.6%

+19.8%

+14.5%

10y

Key ratios

derived per fiscal year

Fiscal year	Net margin	FCF margin	ROE	ROA	Debt / equity
FY2026	32.8%	55.2%	27.2%	10.8%	0.30×
FY2025	30.5%	40.5%	30.3%	12.9%	0.40×
FY2024	25.4%	19.8%	26.8%	11.1%	0.37×
FY2023	20.6%	42.0%	26.3%	9.6%	0.51×
FY2022	39.7%	43.8%	42.1%	11.3%	0.49×
FY2021	28.7%	49.6%	41.2%	8.6%	0.69×
FY2020	22.2%	41.7%	39.3%	12.8%	0.48×
FY2019	13.3%	42.1%	30.5%	9.3%	0.64×
FY2018	7.1%	38.7%	22.1%	5.9%	1.07×
FY2017	0.3%	44.7%	1.0%	0.3%	1.40×
FY2016	—	—	—	—	—
FY2015	—	—	—	—	—

Annual figures

as reported

Fiscal year	Revenue	Gross profit	Op. income	Net income	Diluted EPS	Op. cash flow	Capex	Total assets	Liabilities	Equity	Cash	LT debt
FY2026	$759.0M	—	—	$249.2M	—	$424.9M	$5.8M	$2.3B	$838.4M	$915.2M	$371.9M	$278.4M
FY2025	$713.0M	—	—	$217.4M	—	$300.8M	$12.2M	$1.7B	$766.5M	$717.3M	$283.6M	$290.3M
FY2024	$553.8M	—	—	$140.9M	—	$120.9M	$11.1M	$1.3B	$595.2M	$525.2M	$119.6M	$196.2M
FY2023	$528.8M	—	—	$109.1M	—	$226.6M	$4.7M	$1.1B	$566.4M	$415.4M	$116.6M	$213.5M
FY2022	$367.9M	—	—	$146.0M	—	$169.5M	$8.5M	$1.3B	$557.5M	$346.9M	$76.2M	$171.3M
FY2021	$341.6M	—	—	$98.0M	—	$188.2M	$18.6M	$1.1B	$546.3M	$238.1M	$87.0M	$163.2M
FY2020	$274.0M	—	—	$60.8M	—	$116.4M	$2.0M	$473.5M	$236.1M	$154.8M	$50.1M	$74.7M
FY2019	$252.2M	—	—	$33.6M	—	$111.6M	$5.4M	$360.6M	$190.9M	$110.2M	$49.4M	$71.0M
FY2018	$244.0M	—	—	$17.3M	—	$96.7M	$2.3M	$293.8M	$157.7M	$78.4M	$47.6M	$84.2M
FY2017	$179.8M	—	—	$612K	—	$81.7M	$1.3M	$240.6M	$154.0M	$60.0M	$32.3M	$84.3M
FY2016	—	—	—	$0	—	$109.2M	$921K	—	—	—	$70.4M	—
FY2015	—	—	—	—	—	—	—	—	—	—	$68.8M	—

Latest filings

the most recent regulatory filings

4Insider ownership filing2026-06-15 ↗4Insider ownership filing2026-06-15 ↗4Insider ownership filing2026-06-15 ↗4Insider ownership filing2026-06-02 ↗4Insider ownership filing2026-06-02 ↗4Insider ownership filing2026-06-02 ↗4Insider ownership filing2026-06-02 ↗4Insider ownership filing2026-06-02 ↗4Insider ownership filing2026-06-02 ↗SCHEDULE 13D/ASEC filing2026-05-29 ↗

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Quarter

Revenue

Rev. YoY

Gross margin

Net income

Net margin

Diluted EPS

Mar ’26

$193.6M

−2.2%

—

$66.2M

34.2%

—

Dec ’25

$198.6M

18.0%

—

$58.4M

29.4%

—

Sep ’25

$190.9M

27.3%

—

$70.9M

37.1%

—

Jun ’25

$176.0M

−10.6%

—

$53.7M

30.5%

—

Mar ’25

$198.0M

12.1%

—

$50.5M

25.5%

—

Dec ’24

$168.3M

34.3%

—

$53.0M

31.5%

—

Sep ’24

$150.0M

18.2%

—

$55.0M

36.7%

—

Jun ’24

$196.7M

57.3%

—

$59.0M

30.0%

—

Fiscal year

Net margin

FCF margin

ROE

ROA

Debt / equity

FY2026

32.8%

55.2%

27.2%

10.8%

0.30×

FY2025

30.5%

40.5%

30.3%

12.9%

0.40×

FY2024

25.4%

19.8%

26.8%

11.1%

0.37×

FY2023

20.6%

42.0%

26.3%

9.6%

0.51×

FY2022

39.7%

43.8%

42.1%

11.3%

0.49×

FY2021

28.7%

49.6%

41.2%

8.6%

0.69×

FY2020

22.2%

41.7%

39.3%

12.8%

0.48×

FY2019

13.3%

42.1%

30.5%

9.3%

0.64×

FY2018

7.1%

38.7%

22.1%

5.9%

1.07×

FY2017

0.3%

44.7%

1.0%

0.3%

1.40×

FY2016

—

FY2015

—

Fiscal year

Revenue

Gross profit

Op. income

Net income

Diluted EPS

Op. cash flow

Capex

Total assets

Liabilities

Equity

Cash

LT debt

FY2026

$759.0M

—

$249.2M

—

$424.9M

$5.8M

$2.3B

$838.4M

$915.2M

$371.9M

$278.4M

FY2025

$713.0M

—

$217.4M

—

$300.8M

$12.2M

$1.7B

$766.5M

$717.3M

$283.6M

$290.3M

FY2024

$553.8M

—

$140.9M

—

$120.9M

$11.1M

$1.3B

$595.2M

$525.2M

$119.6M

$196.2M

FY2023

$528.8M

—

$109.1M

—

$226.6M

$4.7M

$1.1B

$566.4M

$415.4M

$116.6M

$213.5M

FY2022

$367.9M

—

$146.0M

—

$169.5M

$8.5M

$1.3B

$557.5M

$346.9M

$76.2M

$171.3M

FY2021

$341.6M

—

$98.0M

—

$188.2M

$18.6M

$1.1B

$546.3M

$238.1M

$87.0M

$163.2M

FY2020

$274.0M

—

$60.8M

—

$116.4M

$2.0M

$473.5M

$236.1M

$154.8M

$50.1M

$74.7M

FY2019

$252.2M

—

$33.6M

—

$111.6M

$5.4M

$360.6M

$190.9M

$110.2M

$49.4M

$71.0M

FY2018

$244.0M

—

$17.3M

—

$96.7M

$2.3M

$293.8M

$157.7M

$78.4M

$47.6M

$84.2M

FY2017

$179.8M

—

$612K

—

$81.7M

$1.3M

$240.6M

$154.0M

$60.0M

$32.3M

$84.3M

FY2016

—

$109.2M

$921K

—

$70.4M

—

FY2015

—

$68.8M

—