| Schedule of Earnings Per Share, Basic and Diluted |
The calculations of basic and diluted earnings per share attributable to holders of shares of common stock are presented below. The determination of weighted average shares of common stock outstanding includes both the Company's Class A common stock and Class B common stock. Please refer to Note 15 for further detail on our two classes of authorized Company common stock | | | | | | | | | | | | | | | | | | | Year Ended March 31, | | 2026 | | 2025 | | 2024 | | Numerator: | | | | | | | Net income attributable to Houlihan Lokey, Inc. | $ | 425,697 | | | $ | 399,711 | | | $ | 280,301 | | | | | | | | | Denominator: | | | | | | | Weighted average shares of common stock outstanding — basic | 66,547,768 | | | 65,724,473 | | | 64,337,975 | | | Weighted average number of incremental shares pertaining to unvested restricted stock and issuable in respect of unvested restricted stock units, as-calculated using the treasury stock method | 1,887,128 | | | 2,933,874 | | | 3,821,415 | | | Weighted average shares of common stock outstanding — diluted | 68,434,896 | | | 68,658,347 | | | 68,159,390 | | | | | | | | | Basic earnings per share | $ | 6.40 | | | $ | 6.08 | | | $ | 4.36 | | | Diluted earnings per share | $ | 6.22 | | | $ | 5.82 | | | $ | 4.11 | |
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