Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Constructive evidenceCoverage 3/5 core metrics1 filing-based checks were evaluable.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- No current rule-based risk flags
1 filing-based checks were evaluable.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Revenue expanded
Latest reported annual revenue changed +6.5% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2026-03-31.
- Free cash flow was positive
Latest reported free cash flow was $419M.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2026-03-31.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-09-06
- Latest period end
- 2026-03-31
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Management And Advisory Fee Revenue$584Mshare n/a+13.7% yoy
- Management And Advisory Fee Revenue Specialized Funds$374Mshare n/a+18.8% yoy
- Incentive Fee Revenue Including Consolidated VI Es$175Mshare n/a-12.2% yoy
- Incentive Fee Revenue Specialized Funds$146Mshare n/a-19.7% yoy
- Management And Advisory Fee Revenue Customized Separate Accounts$142Mshare n/a+5.3% yoy
- Management And Advisory Fee Revenue Reporting And Other$35.8Mshare n/a+22.3% yoy
- Incentive Fee Revenue Customized Separate Accounts$24.3Mshare n/a+49.9% yoy
- Management And Advisory Fee Revenue Advisory$20.5Mshare n/a-10.2% yoy
- +2 more members in the filing
member sum exceeds the consolidated figure: this axis carries more than one breakdown, so shares are not computed.
- Outside the United States$449M59.1%+12.6% yoy
- United States$310M40.9%-1.4% yoy
Members sum to the consolidated $759M for this period.
- Management And Advisory Fee Revenue$153Mshare n/a+21.3% yoy
- Management And Advisory Fee Revenue Specialized Funds$98.5Mshare n/a+30.0% yoy
- Incentive Fee Revenue Including Consolidated VI Es$45.4Mshare n/a+8.2% yoy
- Incentive Fee Revenue Specialized Funds$39.4Mshare n/a+13.2% yoy
- Management And Advisory Fee Revenue Customized Separate Accounts$36.1Mshare n/a+6.4% yoy
- Management And Advisory Fee Revenue Reporting And Other$9.33Mshare n/a+31.3% yoy
- +4 more members in the filing
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2026-03-31 · among 4,058 US-listed filers · 868 in Financials| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $759M | 51stof 3,301 middle third | 59thof 540 middle third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | 6.5% | 51stof 3,137 middle third | 47thof 517 middle third |
Net margin net income ÷ revenue | 32.8% | 92ndof 3,263 top third | 69thof 533 top third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | 55.2% | 96thof 2,679 top third | 70thof 306 top third |
Return on equity net income ÷ stockholders' equity (positive equity only) | 27.2% | 91stof 3,577 top third | 92ndof 773 top third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 6.7% | 31stof 2,895 bottom third | 37thof 421 middle third |
Net debt ÷ operating cash flow net debt ÷ operating cash flow (OCF > 0) · lower is ranked higher | -0.2× | 83rdof 1,547 top third | 70thof 296 top third |
Cash conversion operating cash flow ÷ net income (net income > 0) | 1.7× | 56thof 1,954 middle third | 73rdof 574 top third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -8.8% | 75thof 2,770 top third | 92ndof 649 top third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | 38.4% | 18thof 2,345 bottom third | 20thof 604 bottom third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2026-03-31 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 2 changed periods| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Long-term debt LongTermDebt | balance at 2022-03-31 | $171M 10-K 2022-05-26 | $214M 10-Q 2023-08-01 | +24.6% | first · latest · 6 filings carry it |
| Debt issued ProceedsFromIssuanceOfLongTermDebt | quarter 2023-06-30 | $0 10-Q 2023-08-01 | $10M 10-Q 2024-08-06 | - | first · latest |
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
Not available for HLNE yet: no footnote text blocks on file for this filer in the ingested DERA files.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.