Hamilton Lane Incorporated

HLNENASDAQFinancial Services● Active

$80.46

$-2.21(-2.67%)

Market Cap$4.5B

P/E Ratio—

52W High$161.13

52W Low$76.79

Avg Volume891K

Open$83.17

Beta1.16

Overview

Hamilton Lane Incorporated (HLNE) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

HLNE · free cash flow · updated Jun 8, 2026

Core FCF metrics

HLNE · FCF · TTM · margin & CAGR

Free cash flow was $454.5M for FY2026 (fiscal year ending 2026-03-31), up 57.5% year-over-year The FCF margin was 59.9%. Five-year CAGR stands at +21.9%.

FY2026 Free Cash Flow$454.5M▲ +57.5% YoY

Trailing 12M (TTM)$421.3Mtrailing 4 quarters sum

FCF Margin59.9%$454.5M ÷ revenue

3-Year CAGR+27.0%FY2023 → FY2026

5-Year CAGR+21.9%FY2021 → FY2026

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

HLNE · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2026Latest$460.4M(6M)$454.5M▲ +57.5%59.9%

FY2025$300.8M(12M)$288.7M▲ +163.0%40.5%

FY2024$120.9M(11M)$109.8M▼ 50.5%19.8%

FY2023$226.6M(5M)$221.8M▲ +37.8%42.0%

FY2022$169.5M(9M)$161.0M▼ 4.5%43.8%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

HLNE · P/FCF · FCF yield · FCF per share

Hamilton Lane Incorporated (HLNE) trades at a FCF yield of 9.43% and a price-to-free-cash-flow ratio of 7.1x. FCF per share stands at $11.36, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

9.43%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$11.36

TTM FCF ÷ Shares Outstanding

Price / FCF

x7.1

Share Price ÷ FCF per Share

EV / FCF (TTM)

x10.6

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2026 · 2026-03-31

Cash flow statement summary

HLNE · cash flow statement · operating / investing / financing

For FY2026, Hamilton Lane Incorporated generated $460.4M in operating cash flow and spent 6M in capital expenditures, yielding $454.5M in free cash flow.

Operating Activities

+$460.4M

Cash from core business operations

2026-03-31

Investing Activities

−$530.3M

CapEx, acquisitions & investments

2026-03-31

Financing Activities

+$155.8M

Buybacks, dividends & debt

2026-03-31

FCF FormulaOperating CF ($460.4M) − |CapEx| (6M) = FCF ($454.5M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

HLNE vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Hamilton Lane IncorporatedYOU

HLNE

$454.5M+57.5%59.9%

Berkshire Hathaway Inc.

BRK-A

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Hamilton Lane Incorporated (HLNE) reported free cash flow of $454.5M for FY2026 (fiscal year ending 2026-03-31), up 57.5% year-over-year. The FCF margin was 59.9%.

Based on available data, Hamilton Lane Incorporated has maintained positive free cash flow for at least 13 fiscal year(s). FCF peaked at $454.5M in FY2026. The 5-year CAGR stands at +21.9%.

Hamilton Lane Incorporated's FCF yield is 9.43% and price-to-FCF ratio is 7.1x for FY2026, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

HLNE free cash flow · 8 questions

Hamilton Lane Incorporated free cash flow was $454.5M for FY2026, up 57.5% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $421.3M.

HLNE free cash flowHLNE FCFHLNE FCF 2026HLNE free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Hamilton Lane Incorporated · Hamilton Lane Incorporated SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026