QualityDipStocks / Finance · Investment Managers
Hamilton Lane HLNE
Outside our quality screen, so we don’t track its dips. It’s 43% below its 52-week high.
Outside our quality screen, trading well below our fair value estimate, 6% under its Market Value.
Worth knowing
- Down 44% from its 52-week high while revenue grew 24%
From the data on this page, as of the last close. How we pick these
- Fair value est.
- $185.85+112%
- Market Value
- $92.96price −6%
- Off 52-wk high
- −43%
- Risk vs market
- Above marketbeta 1.13
5 bullish · 3 bearish See why
Repriced or dip?
Dip: business intact
The price is 43% below its 52-week high (Jan 15), but the business held up: revenue +17.1%, revenue growth rate +11.0 pts, net cash (cash minus debt) +0.6% of market cap since the high.
Some numbers held up (revenue +17.1%, revenue growth rate +11.0 pts, net cash (cash minus debt) +0.6% of market cap since the high), others slipped. The price is 43% below its 52-week high.
The price is 43% below its 52-week high, and the business changed too.
Within 10% of its 52-week high, so there is no dip to judge yet.
The evidence 6 numbers, high vs now
- Revenue, last 12 months$733M → $858M (+17.1%)held up
- Revenue growth rate+13.0% → +24.0% a year (+11.0 pts)held up
- Free cash flow, 12 months$340M → $367M (+7.9%)held up
- Net cash (cash minus debt)+0.6% of market cap since the highheld up
- Stock vs its sector (Finance)stock −43%, sector median +6% since Jan 15changed
- Price fall vs business numbersprice −43%, revenue/EPS/FCF median +12% (shown, not scored)
Business numbers as reported at the high (12 months to Sep 30, 2025) vs the latest filing (12 months to Jun 30, 2026). Each measure is scored from −1 (business changed) to +1 (business intact) and weighted: revenue, earnings per share, free cash flow, operating margin, revenue growth rate, share count, net cash and the move vs its sector. 60 or more reads as a dip, 40 or less as a repricing. Analyst estimates are not in our data, so they are not used. How to read it
Data-based read, not advice.
Valuation
What we estimate it's worth, and how it ranks on value vs every stock we cover.
Fair value estimate
How the range is computed
Ten-year free-cash-flow DCF. Same 10-year free-cash-flow model as the base: discount rate 9.5% ±1 point and growth 12.8% ±2 points. Bear = 10.5% and 10.8%; bull = 8.5% and 14.8% (both fade to 3%). A model estimate from public filings, not a forecast of where the price will go.
Price is below even the bear case.
Cyclical / peak cash flow — treat with care
What the price implies To be worth today’s price, HLNE’s free cash flow would need to shrink about 1% a year for five years; our estimate uses 13%.
Risk vs market
How risk vs market is measured
One year of daily returns (Oct 31 to Nov 2, 252 sessions). Beta = how much HLNE moved for each 1% move in the S&P 500 (SPY); 1.0 moves with the market. Volatility is the yearly standard deviation of daily returns. Past behavior, not a forecast.
Swings more than the market, and its own price swings are 3.3× the S&P 500’s.
- Beta vs S&P 500
- 1.13
- Volatility
- 42% vs 13% SPY
- Correlation SPY
- 0.34
- Correlation QQQ
- 0.23
How it ranks
Where HLNE stands vs every one of the 1,996 stocks we cover that has the number. Longer bar = better.
Top quarter on 2 of 3 measures
- Discount to fair value estimate112% · price below our base caseTop 7%of 1,314
- Dividends + buybacks yield1.9% · cash paid out or used to retire shares, vs market capLowest 40%of 1,836
- Revenue growth, last 12 months+24% · vs the 12 months beforeTop 21%of 1,814
From SEC filings and our fair value estimate model. A ranking, not advice.
Valuation details
DCF $185.85 · MV $92.96 · FCF value $105.23
Cyclical / peak cash flow — treat with care
Assumes 12.8% growth for 5 years (revenue grew 12.8% a year FY23–FY26), fading to 3%; 9.5% discount rate, 3% terminal growth. FCF base $6.79 a share (trailing 12 months to Jun 30, 2026), from the 10-Q filed Aug 4, 2026.
Fundamentals
The business itself: sales, profits, cash and debt, from SEC filings.
Bull vs bear
Rule-based from the data on this page, strongest first. Not advice.
Top bullish points 5 of 5
ValuationOur DCF fair value estimate is $185.85, 112% above the price (cyclical or peak cash flow, so treat with care).
ValuationFree-cash-flow yield of 7.7% (price / FCF 12.9×): $367M of free cash in the last 12 months.
GrowthDiluted EPS grew 42% to $3.98 in FY2022.
GrowthSales grew 24% to $858M over the last 12 months vs the 12 months before (SEC filings).
ValuationTrades 5.5% below its Market Value of $92.96, the average price paid since the Aug 4 filing.
Top bearish points 3 of 5
ValuationPrice / book of 5.1×, above the 1.7× median for the 296 Finance companies we cover.
ValuationP/E of 17.2×, above the 13.6× median for the 291 Finance companies we cover.
RiskReports earnings Nov 3 (consensus EPS $1.72): results can move the price sharply and reset Market Value.
All fundamentals
P/E 17.2 · FCF yield 7.7% · ROE 32%
Valuation
- P/E
- 17.2×Finance median 13.6×
- Price / FCF
- 12.9×
- FCF yield
- 7.7%
- EV / EBITDA
- n/aD&A or debt not tagged in SEC data
- Price / sales
- 5.53×
- Price / book
- 5.05×
- Market cap
- $4.7Bprice × diluted shares
- Enterprise value
- $4.7B
Growth
- Revenue, 12 months
- $858M
- Sales growth, 12 months
- +24.0%vs the 12 months before
- Sales growth, 3 yrs
- +12.8%/yrfrom FY2023
- Diluted EPS, 12 months
- n/anot reported in its SEC filings
- EPS growth, last FY
- +41.6%
- Net income, 12 months
- $276M
- Net income growth
- +30%12 months vs before
Profitability
- Gross margin
- n/agross profit isn't reported (common for service and financial companies)
- Operating margin
- n/anot reported in its SEC filings
- Net margin
- 32.1%
- FCF margin
- 42.7%
- Return on equity
- 32%
- Return on invested capital
- n/aoperating income, debt, equity or cash not tagged
Balance sheet
- Cash & short-term inv.
- $350M
- Total debt
- $274M
- Net cash
- $76M
- Debt / equity
- 0.29×
- Interest coverage
- n/ainterest expense not tagged in SEC data
Cash flow & returns
- Free cash flow, 12 months
- $367M
- FCF growth, 12 months
- +9%
- Dividend yield
- 1.90%$90M paid
- Payout ratio
- 33%
- Buybacks, 12 months
- n/anot reported in its SEC filings
- Share count, 1 year
- n/ano quarterly diluted share count
- Stock-based comp
- $51M
Trailing 12 months to Jun 30, 2026; balance sheet at Jun 30, 2026. From Hamilton Lane’s SEC filings. Sparklines show up to six fiscal years. n/a means we don’t hold that number, with the reason. How each is computed.
The business
FCF $0.2B · Sales +56%
- Free cash flow, 12 months$0.2B
- Free-cash-flow yield7.7%
- Free-cash-flow margin27%
- Gross margin61%
- Operating margin46%
- Return on invested capital32%
- Return on equity32%
- Sales growth (latest quarter vs year-ago quarter)+56%
- Net debt / EBITDA0.1×
Chart & levels
Where the price is vs its key levels and trends.
Key levels
Every level vs today’s $87.84
- 52-wk lowlowest close, 1 year$73.79−16.0%
- PriceMon Nov 2 close$87.84you are here
- Market Valueavg paid since Aug 4$92.96+5.8%
- 52-wk highhighest close, 1 year$153.84+75.1%
- Fair value est.base case$185.85+111.6%
Momentum & 52-week range
RSI 55 · 5 days +8.0%
Signals
Reversal signal setups, the public ledger and the next earnings date.
Setup & signals
No setup armed
No setup armed, so there’s no trigger or stop to track yet. Reversal signal rules only run on companies that pass our quality screen.
Next report
Nov 3
- DateTue Nov 3, before the open
- Consensus EPS$1.72
- Year-ago EPS$1.54
- QuarterSep/2026
From Nasdaq’s earnings calendar. A report resets Market Value.
HLNE is outside our quality screen
One text when a published rule fires on one of the 332 quality companies we track: the ticker, the price, the stop and a link to the numbers. Nothing else.
Voices & buzz
Who is talking about it, and how it compares with peers.
Who’s talking about it
Notable investors, executives, analysts and public figures on Hamilton Lane in the last 48 hours. Headlines as published, each linked. Their words, not ours.
No notable mentions in the last 48 hours. Checked Nov 3, 1:01 PM ET.
Compare with peers
Closest in size in Investment Managers
Information only, not investment advice. Fair value estimates and talking points are rule-based model output from public data and can be wrong; stop levels are reference points, not orders. How every number is computed.