HLI vs. MORN
HLI (Houlihan Lokey, Inc.) and MORN (Morningstar, Inc.) are both stocks. Both are in the Financial Services sector — HLI in Capital Markets, MORN in Financial Data & Stock Exchanges. Over the past 10 years, HLI returned 21.57%/yr vs 9.12%/yr for MORN. At a 0.38 correlation, their price movements are largely independent.
Performance
HLI vs. MORN - Performance Comparison
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Returns By Period
In the year-to-date period, HLI achieves a -20.61% return, which is significantly lower than MORN's -16.03% return. Over the past 10 years, HLI has outperformed MORN with an annualized return of 21.57%, while MORN has yielded a comparatively lower 9.12% annualized return.
HLI
- 1D
- -1.54%
- 1M
- -9.87%
- YTD
- -20.61%
- 6M
- -21.92%
- 1Y
- -21.42%
- 3Y*
- 16.12%
- 5Y*
- 14.31%
- 10Y*
- 21.57%
MORN
- 1D
- -2.29%
- 1M
- 2.72%
- YTD
- -16.03%
- 6M
- -15.94%
- 1Y
- -41.38%
- 3Y*
- -3.23%
- 5Y*
- -4.16%
- 10Y*
- 9.12%
HLI vs. MORN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HLI Houlihan Lokey, Inc. | -20.61% | 1.64% | 47.04% | 40.67% | -13.88% | 57.04% | 40.61% | 36.33% | -17.20% | 49.30% |
MORN Morningstar, Inc. | -16.03% | -35.05% | 18.29% | 33.10% | -36.31% | 48.23% | 54.54% | 38.93% | 14.34% | 33.38% |
Correlation
The correlation between HLI and MORN is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Aug 14, 2015 | 0.38 |
The correlation between HLI and MORN shifts across timeframes, from 0.27 (1 year) to 0.44 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
HLI:
$9.33B
MORN:
$7.13B
HLI:
$6.22
MORN:
$9.74
HLI:
22.06
MORN:
18.63
HLI:
6.82
MORN:
0.37
HLI:
3.59
MORN:
2.99
HLI:
3.98
MORN:
7.00
HLI:
$2.62B
MORN:
$2.51B
HLI:
$1.37B
MORN:
$1.55B
HLI:
$636.63M
MORN:
$743.90M
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Return for Risk
HLI vs. MORN — Risk / Return Rank
HLI
MORN
HLI vs. MORN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Houlihan Lokey, Inc. (HLI) and Morningstar, Inc. (MORN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| HLI | MORN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 0.78 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | -0.82 | +0.18 |
| Martin ratioReturn relative to average drawdown | -1.22 | -1.27 | +0.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HLI | MORN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.84 | -1.21 | +0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | -0.14 | +0.65 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.81 | 0.33 | +0.48 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.39 | +0.38 |
Drawdowns
HLI vs. MORN - Drawdown Comparison
The maximum HLI drawdown since its inception was -36.57%, smaller than the maximum MORN drawdown of -67.92%. Use the drawdown chart below to compare losses from any high point for HLI and MORN.
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Drawdown Indicators
| HLI | MORN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.57% | -67.92% | +31.35% |
Max Drawdown (1Y)Largest decline over 1 year | -33.67% | -50.65% | +16.98% |
Max Drawdown (3Y)Largest decline over 3 years | -33.67% | -56.70% | +23.03% |
Max Drawdown (5Y)Largest decline over 5 years | -36.57% | -56.70% | +20.13% |
Max Drawdown (10Y)Largest decline over 10 years | -36.57% | -56.70% | +20.13% |
Current DrawdownCurrent decline from peak | -33.67% | -48.81% | +15.14% |
Average DrawdownAverage peak-to-trough decline | -9.56% | -18.34% | +8.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.58% | 32.64% | -15.06% |
Volatility
HLI vs. MORN - Volatility Comparison
The current volatility for Houlihan Lokey, Inc. (HLI) is 6.97%, while Morningstar, Inc. (MORN) has a volatility of 13.81%. This indicates that HLI experiences smaller price fluctuations and is considered to be less risky than MORN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HLI | MORN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.97% | 13.81% | -6.84% |
Volatility (6M)Calculated over the trailing 6-month period | 18.86% | 30.59% | -11.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.72% | 34.33% | -8.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.93% | 30.68% | -2.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.86% | 27.75% | -0.89% |
Dividends
HLI vs. MORN - Dividend Comparison
HLI's dividend yield for the trailing twelve months is around 1.82%, more than MORN's 1.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HLI Houlihan Lokey, Inc. | 1.82% | 1.36% | 1.30% | 1.82% | 2.32% | 1.56% | 1.90% | 2.46% | 2.74% | 1.76% | 2.12% | 0.57% |
MORN Morningstar, Inc. | 1.05% | 0.84% | 0.48% | 0.52% | 0.66% | 0.28% | 0.65% | 0.74% | 0.91% | 0.95% | 1.20% | 0.95% |
Financials
HLI vs. MORN - Financials Comparison
This section allows you to compare key financial metrics between Houlihan Lokey, Inc. and Morningstar, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
HLI vs. MORN - Profitability Comparison
HLI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Houlihan Lokey, Inc. reported a gross profit of 201.88M and revenue of 635.64M. Therefore, the gross margin over that period was 31.8%.
MORN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Morningstar, Inc. reported a gross profit of 405.90M and revenue of 644.80M. Therefore, the gross margin over that period was 63.0%.
HLI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Houlihan Lokey, Inc. reported an operating income of 125.15M and revenue of 635.64M, resulting in an operating margin of 19.7%.
MORN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Morningstar, Inc. reported an operating income of 900.00K and revenue of 644.80M, resulting in an operating margin of 0.1%.
HLI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Houlihan Lokey, Inc. reported a net income of 99.84M and revenue of 635.64M, resulting in a net margin of 15.7%.
MORN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Morningstar, Inc. reported a net income of 107.10M and revenue of 644.80M, resulting in a net margin of 16.6%.
Frequently Asked Questions
HLI and MORN have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MORN has higher volatility (13.81%) compared to HLI (6.97%). In terms of maximum drawdown, HLI dropped -36.57% vs MORN's -67.92%.
HLI currently has the higher Sharpe Ratio (-0.84 vs -1.21), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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