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HLNE

Hamilton Lane Incorporated

HLNE

Hamilton Lane Incorporated • NASDAQ
$123.94 ▲ 1.25% (+1.52)
Market Cap $6.96 B
52w High $196.95
52w Low $111.98
Dividend Yield 2.06%
P/E 22.37
Volume 177.33K
Outstanding Shares 56.15M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $190.88M ▲ $55.431M ▲ $70.889M ▲ 37.138% ▲ $1.71 ▲ $123.931M ▲
Q1-2026 $175.958M ▲ $45.468M ▼ $53.745M ▲ 30.544% ▼ $1.3 ▲ $101.833M ▲
Q4-2025 $168.261M $52.906M $52.972M 31.482% $1.24 ▼ $96.402M
Q3-2025 $168.261M ▲ $52.906M ▲ $52.972M ▼ 31.482% ▼ $1.33 ▼ $96.402M ▲
Q2-2025 $149.999M $39.964M $54.982M 36.655% $1.38 $82.165M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $240.773M ▼ $1.98B ▲ $822.27M ▲ $825.819M ▲
Q1-2026 $315.88M ▲ $1.802B ▲ $806.992M ▲ $758.801M ▲
Q4-2025 $277.273M ▼ $1.69B ▲ $766.46M ▲ $717.281M ▲
Q3-2025 $321.455M ▲ $1.591B ▲ $729.003M ▲ $649.257M ▲
Q2-2025 $226.969M $1.424B $622.408M $606.58M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $70.889M ▼ $121.174M ▼ $-54.965M ▲ $-54.958M ▼ $12.215M ▼ $120.088M ▼
Q1-2026 $77.07M ▲ $128.932M ▲ $-93.807M ▼ $3.261M ▲ $38.533M ▲ $127.588M ▲
Q4-2025 $50.499M ▼ $45.496M ▼ $-65.697M ▼ $-23.406M ▼ $-43.709M ▼ $42.053M ▼
Q3-2025 $77.455M ▲ $64.394M ▼ $-42.912M ▼ $73.004M ▲ $94.486M ▲ $58.761M ▼
Q2-2025 $54.982M $117.402M $-27.169M $-28.482M $61.751M $115.828M

Revenue by Products

Product Q3-2025Q4-2025Q1-2026Q2-2026
Management And Advisory Fee Revenue Advisory
Management And Advisory Fee Revenue Advisory
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
Management And Advisory Fee Revenue Customized Separate Accounts
Management And Advisory Fee Revenue Customized Separate Accounts
 $30.00M ▲$30.00M ▲$30.00M ▲$40.00M ▲
Management And Advisory Fee Revenue Distribution Management
Management And Advisory Fee Revenue Distribution Management
 $0 ▲$0 ▲$0 ▲$0 ▲
Management And Advisory Fee Revenue Fund Reimbursement Revenue
Management And Advisory Fee Revenue Fund Reimbursement Revenue
 $0 ▲$0 ▲$0 ▲$0 ▲
Management And Advisory Fee Revenue Reporting And Other
Management And Advisory Fee Revenue Reporting And Other
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
Management And Advisory Fee Revenue Specialized Funds
Management And Advisory Fee Revenue Specialized Funds
 $80.00M ▲$80.00M ▲$80.00M ▲$90.00M ▲
Incentive Fee Revenue Customized Separate Accounts
Incentive Fee Revenue Customized Separate Accounts
 $10.00M ▲$0 ▼$0 ▲$0 ▲
Incentive Fee Revenue Specialized Funds
Incentive Fee Revenue Specialized Funds
 $30.00M ▲$70.00M ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Hamilton Lane’s income statement shows a steady build in its core business over the last several years. Revenue and operating profits have grown consistently, suggesting the firm is adding assets and fee streams while keeping costs under good control. Profit margins look strong for an asset manager, though net income has been a bit choppy in the middle of the period before rebounding more recently. Overall, the trend points to a scalable, high‑margin model with some normal earnings volatility tied to market conditions and performance fees.

Balance Sheet

Balance Sheet The balance sheet reflects a relatively light, service-based business with growing scale. Total assets have increased over time, and cash levels have improved from earlier years, which adds flexibility. Debt has risen but equity has grown even faster, signaling that the company is building its capital base rather than relying purely on borrowing. The overall picture is one of a strengthening financial foundation, but with some leverage that still needs to be managed carefully if markets become less favorable.

Cash Flow

Cash Flow Cash generation is a clear strength. Operating cash flow has generally tracked the growth in profits and has improved in recent years, showing that reported earnings are backed by real cash. Free cash flow is strong because the business does not require heavy spending on physical assets, keeping capital expenditures modest. This gives Hamilton Lane room to fund dividends, investments, or strategic initiatives without stretching its finances too far.

Competitive Edge

Competitive Edge Hamilton Lane occupies a differentiated spot in private markets, combining long experience with a data‑ and technology‑driven approach. Its large proprietary database, global relationships with fund managers, and strong brand in private equity and credit give it meaningful barriers to entry versus smaller or newer competitors. Evergreen funds, customized accounts, and advisory services broaden its appeal to both institutions and wealth clients and deepen client stickiness. The main competitive risks come from other large alternative managers pushing into similar products and from any downturn in private markets that could slow fundraising and pressure fees.

Innovation and R&D

Innovation and R&D Innovation at Hamilton Lane is centered on technology platforms, data, and new product structures rather than traditional lab-style R&D. The Cobalt analytics platform, deep private markets database, and integrations with fintech tools give clients richer insights and easier access to information. The firm is also experimenting at the frontier with tokenization and digital platforms to make private markets more accessible and potentially more liquid. These efforts could extend its edge and widen its client base, but they also bring execution, regulatory, and adoption risks that will take time to play out.

Summary

Taken together, Hamilton Lane looks like a growing, high‑margin asset manager with a strengthening balance sheet and robust cash generation, built on a relatively low‑capital business model. Its competitive edge rests on proprietary data, technology, long-standing relationships, and an expanding range of private market products that appeal to both institutions and wealth clients. At the same time, its fortunes remain tied to the health of private markets, investor appetite for alternatives, and the success of newer initiatives like tokenized funds and evergreen vehicles. The story is one of a mature specialist firm leaning into innovation while navigating the usual cyclical and competitive pressures of the asset management industry.

NEWS

November 10, 2025 · 7:00 AM UTC

Hamilton Lane Strengthens North America Client Solutions Team, Appointing Seven Senior Members

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November 4, 2025 · 7:00 AM UTC

HAMILTON LANE INCORPORATED REPORTS SECOND QUARTER FISCAL 2026 RESULTS

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November 3, 2025 · 8:00 AM UTC

Hamilton Lane and Guardian Announce Long-Term Strategic Partnership

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October 29, 2025 · 7:00 AM UTC

Bloomberg Adds Hamilton Lane Private Market Indices to the Bloomberg Terminal

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October 15, 2025 · 9:00 AM UTC

Hamilton Lane Tokenized Private Credit Fund Launches on Sei Network via KAIO's Institutional-grade Infrastructure

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