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PARTIAL
Analysis Report
Apr 23, 2026
Partial analysis — no complete end-to-end run on record.
Financial Services · Asset Management
Price
$87.06
Market Cap
$4.9B
Employees
700
Beta
1.19
Avg Volume
898,436
CEO
Erik R. Hirsch
Business Description
Hamilton Lane Incorporated is an investment firm specializing in direct and fund of fund investments. It provides following services: separate accounts (customized to each individual client and structured as single client vehicles); specialized strategies (fund-of-funds, secondaries, co-investments, taft-hartley, distribution management); advisory relationships (including due diligence, strategic portfolio planning, monitoring and reporting services); and reporting and analytics solutions. For direct investments, the firm invests in early, mid and late venture, mature companies, growth equity, emerging growth, distressed debt, later stage, turnarounds, bridge financing, mezzanine financing, and buyouts in middle market companies. For fund of fund investments, it invests in mezzanine, venture capital, private equity, turnaround, secondary investments, real estate, and special situation funds. The firm invests in real estate investments. It also invest in technology, healthcare, education, natural resources, energy and essential consumer goods sectors, cleantech, and environment, community development, and financial empowerment. It invests in private equity markets in North America, Latin America, United States, Western Europe, Middle East, Africa, United Kingdom, Asia, Japan, and Australia. The firm prefer to invest $1 million to $100 million in companies. It prefers to have majority stake in companies. Hamilton Lane Incorporated was founded in 1991 and is based in Conshohocken, Pennsylvania with additional offices across Europe, North America, and Asia.
Business History
Generated: Apr 23, 2026 10:01amPrice Overview
Last updated: May 12, 2026 11:14am (just now)$87.06
-1.50 (-1.69%)
Day Range
$86.69 – $88.69
52-Week Range
$85.90 – $179.19
50-Day MA
$98.48
200-Day MA
$126.61
Volume
104,410.00
Analyst Price Targets
Low
$141.00
Consensus
$173.67
High
$230.00
(15 analysts)
Share Structure
Outstanding
55,775,109.00
Float
37,806,145.00
Free Float
67.8%
Normal free float
— 67.8% of shares trade freely, ~32.2% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
13.83
Stock Price: $87.06
EPS (Diluted): 5.45
EPS (Diluted): 5.45
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
8.32
Stock Price: $87.06
Total Equity: $717.28M
Shares: 47,730,930
Total Equity: $717.28M
Shares: 47,730,930
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
10.93
Market Cap: $4.86B
Total Debt: $290.30M
Cash: $277.27M
EBITDA: $384.89M
Total Debt: $290.30M
Cash: $277.27M
EBITDA: $384.89M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$6.1B
Market Cap: $4.86B
Total Debt: $290.30M
Cash: $277.27M
Total Debt: $290.30M
Cash: $277.27M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
70.8%
Gross Profit: $504.74M
Revenue: $712.96M
Revenue: $712.96M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
44.4%
Operating Income: $316.55M
Revenue: $712.96M
Revenue: $712.96M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
30.5%
Net Income: $217.42M
Revenue: $712.96M
Revenue: $712.96M
ROE (Profit from shareholder equity)
APINet Income / Total Equity
29.4%
Net Income: $217.42M
Total Equity: $717.28M
Total Equity: $717.28M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
14.5%
Operating Income: $316.55M
Tax Rate: 13.4%
Equity: $717.28M
Total Debt: $290.30M
Cash: $277.27M
Tax Rate: 13.4%
Equity: $717.28M
Total Debt: $290.30M
Cash: $277.27M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.68
Current Assets: $492.49M
Current Liabilities: $293.16M
Current Liabilities: $293.16M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.40
Short-Term Debt: $0.00
Long-Term Debt: $290.30M
Total Debt: $290.30M
Total Equity: $717.28M
Long-Term Debt: $290.30M
Total Debt: $290.30M
Total Equity: $717.28M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$14.94
Revenue: $712.96M
Shares: 47,730,930
Shares: 47,730,930
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$15.03
Total Equity: $717.28M
Shares: 47,730,930
Shares: 47,730,930
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$6.05
Operating CF: $300.82M
CapEx: -$12.16M
Shares: 47,730,930
CapEx: -$12.16M
Shares: 47,730,930
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
2.0%
Last Dividend: N/A
Stock Price: $87.06
Stock Price: $87.06
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $217.42M
Net Income: $217.42M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares HLNE against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
Not applicable for Mature Earner companies
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
Not applicable for Mature Earner companies
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
Not applicable for Mature Earner companies
4h
Dividend Discount Model
— For dividend/income stocks only
Not applicable for Mature Earner companies
4i
Book Value Analysis
— For deep value / turnaround stocks only
Not applicable for Mature Earner companies
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
Not applicable for Mature Earner companies
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: May 9, 2026 3:11am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $341.6M | $367.9M | $528.8M | $553.8M | $713.0M |
| Cost of Revenue | $136.3M | $108.4M | $149.3M | $166.4M | $208.2M |
| Gross Profit | $205.3M | $259.5M | $379.4M | $387.4M | $504.7M |
| Operating Expenses | $49.6M | $90.0M | $139.4M | $141.6M | $188.2M |
| Operating Income | $155.7M | $169.6M | $240.0M | $245.8M | $316.6M |
| Net Income | $98.0M | $146.0M | $109.1M | $140.9M | $217.4M |
| EBITDA | $159.9M | $323.8M | $258.7M | $301.0M | $384.9M |
| EPS | $2.82 | $4.02 | $3.05 | $3.72 | $5.45 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: May 8, 2026 4:59am (4d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $87.3M | $72.2M | $111.7M | $114.6M | $277.3M |
| Total Current Assets | $404.2M | $412.8M | $182.7M | $247.1M | $492.5M |
| Total Assets | $1.1B | $1.3B | $1.1B | $1.3B | $1.7B |
| Current Liabilities | $225.0M | $223.4M | $210.0M | $247.4M | $293.2M |
| Long-Term Debt | $163.2M | $171.3M | $213.5M | $196.2M | $290.3M |
| Total Liabilities | $546.3M | $557.5M | $566.4M | $595.2M | $766.5M |
| Total Equity | $238.1M | $346.9M | $415.4M | $525.2M | $717.3M |
| Retained Earnings | $87.5M | $185.1M | $243.8M | $316.7M | $455.5M |
Cash Flow (Annual)
Last updated: May 9, 2026 3:11am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $188.2M | $169.5M | $226.6M | $120.9M | $300.8M |
| Capital Expenditure | -$19.6M | -$8.5M | -$4.7M | -$11.1M | -$12.2M |
| Free Cash Flow | $168.5M | $161.0M | $221.8M | $109.8M | $288.7M |
| Acquisitions (net) | $-252,000 | -$10.1M | -$1.5M | $0 | -$46.3M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$6.0M | -$3.5M | -$280.5M | -$3.5M | -$253.9M |
| Net Change in Cash | $37.2M | -$14.2M | $40.4M | $3.1M | $164.0M |
Analyst Estimates (Annual)
Last updated: May 12, 2026 11:14am (just now)| Metric | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|
| Revenue |
$766.7M $740.1M – $829.5M
|
$852.7M $824.2M – $915.7M
|
$1.0B $980.0M – $1.0B
|
$833.4M $802.1M – $876.0M
|
| EBITDA |
$447.8M $432.3M – $484.5M
|
$498.1M $481.5M – $534.9M
|
$587.1M $572.5M – $601.7M
|
$486.8M $468.5M – $511.7M
|
| Net Income |
$303.6M $265.8M – $341.4M
|
$291.9M $270.4M – $313.4M
|
$344.2M $324.5M – $363.8M
|
$303.5M $288.7M – $323.7M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: May 9, 2026 3:11am (3d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +7.7% | +43.7% | +4.7% | +28.7% |
| Gross Profit Growth | +26.4% | +46.2% | +2.1% | +30.3% |
| Operating Income Growth | +8.9% | +41.6% | +2.4% | +28.8% |
| Net Income Growth | +48.9% | -25.3% | +29.1% | +54.4% |
| EBITDA Growth | +102.6% | -20.1% | +16.4% | +27.9% |
Insider Trading (Recent)
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-03-14 | Kramer Andrea Anigati | F-InKind | 1,212.00 | $96.85 | $117,382 |
| 2026-03-14 | Hirsch Erik R. | F-InKind | 6,912.00 | $96.85 | $669,427 |
| 2026-03-14 | Armbrister Jeffrey Brian | F-InKind | 590.00 | $96.85 | $57,142 |
| 2025-12-31 | Carl Drew Thomas | A-Award | 46.00 | $114.16 | $5,251 |
| 2026-03-14 | Carl Drew Thomas | F-InKind | 85.00 | $96.85 | $8,232 |
| 2026-03-14 | Gavalis Lydia | F-InKind | 549.00 | $96.85 | $53,171 |
| 2026-02-24 | BERKMAN DAVID J | P-Purchase | 10,000.00 | $101.00 | $1.0M |
| 2026-02-20 | Hirsch Erik R. | P-Purchase | 9,225.00 | $107.13 | $988,260 |
| 2026-02-20 | Delgado-Moreira Juan | P-Purchase | 2,705.00 | $107.58 | $291,003 |
| 2026-02-20 | Delgado-Moreira Juan | P-Purchase | 6,520.00 | $107.10 | $698,308 |
| 2026-02-20 | Kramer Andrea Anigati | P-Purchase | 2,325.00 | $107.53 | $250,011 |
| 2025-12-31 | Kramer Andrea Anigati | A-Award | 46.00 | $114.16 | $5,251 |
| 2025-09-30 | Kramer Andrea Anigati | A-Award | 46.00 | $114.57 | $5,270 |
| 2026-02-20 | Giannini Mario L | P-Purchase | 9,225.00 | $107.32 | $990,010 |
| 2026-02-06 | Delgado-Moreira Juan | G-Gift | 14,375.00 | $0.00 | $0 |
| 2026-02-06 | Delgado-Moreira Juan | G-Gift | 14,375.00 | $0.00 | $0 |
| 2025-11-07 | Delgado-Moreira Juan | P-Purchase | 3,992.00 | $130.87 | $522,433 |
| 2025-11-07 | Delgado-Moreira Juan | P-Purchase | 4,008.00 | $129.84 | $520,399 |
| 2025-09-02 | McAllister Margaret Anne | 0.00 | $0.00 | $0 | |
| 2025-09-02 | McAllister Margaret Anne | 0.00 | $0.00 | $0 |
Dividend History (Last 20)
Last updated: May 8, 2026 4:59am (4d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-03-20 | $0.54 | 2026-02-03 | 2026-03-20 | 2026-04-06 |
| 2025-12-19 | $0.54 | 2025-11-04 | 2025-12-19 | 2026-01-07 |
| 2025-09-19 | $0.54 | 2025-08-05 | 2025-09-19 | 2025-10-06 |
| 2025-06-20 | $0.54 | 2025-05-29 | 2025-06-20 | 2025-07-07 |
| 2025-03-14 | $0.49 | 2025-02-04 | 2025-03-14 | 2025-04-04 |
| 2024-12-16 | $0.49 | 2024-11-06 | 2024-12-16 | 2025-01-07 |
| 2024-09-16 | $0.49 | 2024-08-06 | 2024-09-16 | 2024-10-04 |
| 2024-06-14 | $0.49 | 2024-05-23 | 2024-06-14 | 2024-07-05 |
| 2024-03-14 | $0.45 | 2024-02-06 | 2024-03-15 | 2024-04-04 |
| 2023-12-14 | $0.45 | 2023-11-07 | 2023-12-15 | 2024-01-05 |
| 2023-09-14 | $0.45 | 2023-08-01 | 2023-09-15 | 2023-10-05 |
| 2023-06-14 | $0.45 | 2023-05-25 | 2023-06-15 | 2023-07-07 |
| 2023-03-14 | $0.40 | 2023-02-07 | 2023-03-15 | 2023-04-06 |
| 2022-12-14 | $0.40 | 2022-11-01 | 2022-12-15 | 2023-01-06 |
| 2022-09-14 | $0.40 | 2022-08-02 | 2022-09-15 | 2022-10-06 |
| 2022-06-14 | $0.40 | 2022-05-26 | 2022-06-15 | 2022-07-07 |
| 2022-03-14 | $0.35 | 2022-01-31 | 2022-03-15 | 2022-04-06 |
| 2021-12-14 | $0.35 | 2021-11-02 | 2021-12-15 | 2022-01-06 |
| 2021-09-14 | $0.35 | 2021-08-03 | 2021-09-15 | 2021-10-06 |
| 2021-06-14 | $0.35 | 2021-05-27 | 2021-06-15 | 2021-07-07 |
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.199 · e0c1fd0f · 2026-05-11 20:12:48