MORN vs. HLI
MORN (Morningstar, Inc.) and HLI (Houlihan Lokey, Inc.) are both stocks. Both are in the Financial Services sector — MORN in Financial Data & Stock Exchanges, HLI in Capital Markets. Over the past 10 years, MORN returned 9.12%/yr vs 21.57%/yr for HLI. At a 0.38 correlation, their price movements are largely independent.
Performance
MORN vs. HLI - Performance Comparison
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Returns By Period
In the year-to-date period, MORN achieves a -16.03% return, which is significantly higher than HLI's -20.61% return. Over the past 10 years, MORN has underperformed HLI with an annualized return of 9.12%, while HLI has yielded a comparatively higher 21.57% annualized return.
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
- 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 vs. HLI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MORN Morningstar, Inc. | -16.03% | -35.05% | 18.29% | 33.10% | -36.31% | 48.23% | 54.54% | 38.93% | 14.34% | 33.38% |
HLI Houlihan Lokey, Inc. | -20.61% | 1.64% | 47.04% | 40.67% | -13.88% | 57.04% | 40.61% | 36.33% | -17.20% | 49.30% |
Correlation
The correlation between MORN and HLI 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 MORN and HLI shifts across timeframes, from 0.27 (1 year) to 0.44 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
MORN:
$7.13B
HLI:
$9.33B
MORN:
$9.74
HLI:
$6.22
MORN:
18.63
HLI:
22.06
MORN:
0.37
HLI:
6.82
MORN:
2.99
HLI:
3.59
MORN:
7.00
HLI:
3.98
MORN:
$2.51B
HLI:
$2.62B
MORN:
$1.55B
HLI:
$1.37B
MORN:
$743.90M
HLI:
$636.63M
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Return for Risk
MORN vs. HLI — Risk / Return Rank
MORN
HLI
MORN vs. HLI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morningstar, Inc. (MORN) and Houlihan Lokey, Inc. (HLI). 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.
| MORN | HLI | 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 | 0.78 | 0.87 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | -0.64 | -0.18 |
| Martin ratioReturn relative to average drawdown | -1.27 | -1.22 | -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
| MORN | HLI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.21 | -0.84 | -0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | 0.52 | -0.65 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | 0.81 | -0.48 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.77 | -0.38 |
Drawdowns
MORN vs. HLI - Drawdown Comparison
The maximum MORN drawdown since its inception was -67.92%, which is greater than HLI's maximum drawdown of -36.57%. Use the drawdown chart below to compare losses from any high point for MORN and HLI.
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Drawdown Indicators
| MORN | HLI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.92% | -36.57% | -31.35% |
Max Drawdown (1Y)Largest decline over 1 year | -50.65% | -33.67% | -16.98% |
Max Drawdown (3Y)Largest decline over 3 years | -56.70% | -33.67% | -23.03% |
Max Drawdown (5Y)Largest decline over 5 years | -56.70% | -36.57% | -20.13% |
Max Drawdown (10Y)Largest decline over 10 years | -56.70% | -36.57% | -20.13% |
Current DrawdownCurrent decline from peak | -48.81% | -33.67% | -15.14% |
Average DrawdownAverage peak-to-trough decline | -18.34% | -9.56% | -8.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.64% | 17.58% | +15.06% |
Volatility
MORN vs. HLI - Volatility Comparison
Morningstar, Inc. (MORN) has a higher volatility of 13.81% compared to Houlihan Lokey, Inc. (HLI) at 6.97%. This indicates that MORN's price experiences larger fluctuations and is considered to be riskier than HLI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MORN | HLI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.81% | 6.97% | +6.84% |
Volatility (6M)Calculated over the trailing 6-month period | 30.59% | 18.86% | +11.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.33% | 25.72% | +8.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.68% | 27.93% | +2.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.75% | 26.86% | +0.89% |
Dividends
MORN vs. HLI - Dividend Comparison
MORN's dividend yield for the trailing twelve months is around 1.05%, less than HLI's 1.82% 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
MORN vs. HLI - Financials Comparison
This section allows you to compare key financial metrics between Morningstar, Inc. and Houlihan Lokey, 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
MORN vs. HLI - Profitability Comparison
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 - 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 - 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 - 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 - 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%.
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%.
Frequently Asked Questions
MORN and HLI 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, MORN dropped -67.92% vs HLI's -36.57%.
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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