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Side-by-side financial comparison of Hamilton Lane INC (HLNE) and BRC Group Holdings, Inc. (RILY). Click either name above to swap in a different company.
Hamilton Lane INC is the larger business by last-quarter revenue ($198.6M vs $188.3M, roughly 1.1× BRC Group Holdings, Inc.). BRC Group Holdings, Inc. runs the higher net margin — 47.9% vs 29.4%, a 18.6% gap on every dollar of revenue. On growth, Hamilton Lane INC posted the faster year-over-year revenue change (18.0% vs -21.9%). Over the past eight quarters, Hamilton Lane INC's revenue compounded faster (6.0% CAGR vs -15.4%).
Hamilton Lane Incorporated is an American alternative investment management and advisory company headquartered in Conshohocken, Pennsylvania. The company provides private markets investments to its clients.
HLNE vs RILY — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $198.6M | $188.3M |
| Net Profit | $58.4M | $90.3M |
| Gross Margin | — | 79.5% |
| Operating Margin | 60.5% | 32.3% |
| Net Margin | 29.4% | 47.9% |
| Revenue YoY | 18.0% | -21.9% |
| Net Profit YoY | 10.2% | 1710.8% |
| EPS (diluted) | — | $2.78 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $198.6M | $188.3M | ||
| Q3 25 | $190.9M | $215.3M | ||
| Q2 25 | $176.0M | $188.2M | ||
| Q1 25 | $198.0M | $197.2M | ||
| Q4 24 | $168.3M | $241.0M | ||
| Q3 24 | $150.0M | $225.5M | ||
| Q2 24 | $196.7M | $256.0M | ||
| Q1 24 | $176.7M | $263.4M |
| Q4 25 | $58.4M | $90.3M | ||
| Q3 25 | $70.9M | $91.1M | ||
| Q2 25 | $53.7M | $139.5M | ||
| Q1 25 | $50.5M | $-10.0M | ||
| Q4 24 | $53.0M | $-5.6M | ||
| Q3 24 | $55.0M | $-284.4M | ||
| Q2 24 | $59.0M | $-433.6M | ||
| Q1 24 | $48.4M | $-49.2M |
| Q4 25 | — | 79.5% | ||
| Q3 25 | — | 83.7% | ||
| Q2 25 | — | 81.3% | ||
| Q1 25 | — | 81.4% | ||
| Q4 24 | — | 79.8% | ||
| Q3 24 | — | 82.1% | ||
| Q2 24 | — | 84.5% | ||
| Q1 24 | — | 85.3% |
| Q4 25 | 60.5% | 32.3% | ||
| Q3 25 | 61.6% | 30.4% | ||
| Q2 25 | 54.2% | 5.7% | ||
| Q1 25 | 44.6% | -31.2% | ||
| Q4 24 | 53.6% | -69.2% | ||
| Q3 24 | 51.4% | -36.4% | ||
| Q2 24 | 54.3% | -90.8% | ||
| Q1 24 | 55.0% | -6.1% |
| Q4 25 | 29.4% | 47.9% | ||
| Q3 25 | 37.1% | 42.3% | ||
| Q2 25 | 30.5% | 74.1% | ||
| Q1 25 | 25.5% | -5.1% | ||
| Q4 24 | 31.5% | -2.3% | ||
| Q3 24 | 36.7% | -126.1% | ||
| Q2 24 | 30.0% | -169.4% | ||
| Q1 24 | 27.4% | -18.7% |
| Q4 25 | — | $2.78 | ||
| Q3 25 | — | $2.91 | ||
| Q2 25 | — | $4.50 | ||
| Q1 25 | — | $-0.39 | ||
| Q4 24 | — | $-0.01 | ||
| Q3 24 | — | $-9.39 | ||
| Q2 24 | — | $-14.35 | ||
| Q1 24 | — | $-1.71 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $226.6M |
| Total DebtLower is stronger | $279.5M | $1.4B |
| Stockholders' EquityBook value | $877.4M | $-171.5M |
| Total Assets | $2.2B | $1.7B |
| Debt / EquityLower = less leverage | 0.32× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $226.6M | ||
| Q3 25 | — | $184.2M | ||
| Q2 25 | — | $267.4M | ||
| Q1 25 | — | $138.3M | ||
| Q4 24 | — | $146.9M | ||
| Q3 24 | — | $159.2M | ||
| Q2 24 | — | $236.9M | ||
| Q1 24 | — | $190.7M |
| Q4 25 | $279.5M | $1.4B | ||
| Q3 25 | $285.6M | $1.3B | ||
| Q2 25 | $288.6M | $1.3B | ||
| Q1 25 | $290.3M | $1.4B | ||
| Q4 24 | $292.0M | $1.5B | ||
| Q3 24 | $195.0M | — | ||
| Q2 24 | $195.6M | — | ||
| Q1 24 | $196.2M | — |
| Q4 25 | $877.4M | $-171.5M | ||
| Q3 25 | $825.8M | $-260.5M | ||
| Q2 25 | $758.8M | $-351.7M | ||
| Q1 25 | $717.3M | $-496.8M | ||
| Q4 24 | $649.3M | $-488.2M | ||
| Q3 24 | $606.6M | $-497.6M | ||
| Q2 24 | $566.4M | $-218.3M | ||
| Q1 24 | $525.2M | $228.4M |
| Q4 25 | $2.2B | $1.7B | ||
| Q3 25 | $2.0B | $1.7B | ||
| Q2 25 | $1.8B | $1.5B | ||
| Q1 25 | $1.7B | $1.5B | ||
| Q4 24 | $1.6B | $1.8B | ||
| Q3 24 | $1.4B | $2.2B | ||
| Q2 24 | $1.4B | $3.2B | ||
| Q1 24 | $1.3B | $5.0B |
| Q4 25 | 0.32× | — | ||
| Q3 25 | 0.35× | — | ||
| Q2 25 | 0.38× | — | ||
| Q1 25 | 0.40× | — | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | 0.32× | — | ||
| Q2 24 | 0.35× | — | ||
| Q1 24 | 0.37× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $74.1M | $26.2M |
| Free Cash FlowOCF − Capex | $72.4M | — |
| FCF MarginFCF / Revenue | 36.5% | — |
| Capex IntensityCapex / Revenue | 0.8% | — |
| Cash ConversionOCF / Net Profit | 1.27× | 0.29× |
| TTM Free Cash FlowTrailing 4 quarters | $606.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $74.1M | $26.2M | ||
| Q3 25 | $118.9M | $-60.6M | ||
| Q2 25 | $128.9M | $-25.6M | ||
| Q1 25 | $300.8M | $184.0K | ||
| Q4 24 | $64.4M | $-2.7M | ||
| Q3 24 | $117.4M | $19.5M | ||
| Q2 24 | $79.7M | $111.5M | ||
| Q1 24 | $120.9M | $135.4M |
| Q4 25 | $72.4M | — | ||
| Q3 25 | $117.8M | — | ||
| Q2 25 | $127.6M | — | ||
| Q1 25 | $288.7M | — | ||
| Q4 24 | $58.8M | — | ||
| Q3 24 | $115.8M | — | ||
| Q2 24 | $78.2M | — | ||
| Q1 24 | $109.8M | — |
| Q4 25 | 36.5% | — | ||
| Q3 25 | 61.7% | — | ||
| Q2 25 | 72.5% | — | ||
| Q1 25 | 145.8% | — | ||
| Q4 24 | 34.9% | — | ||
| Q3 24 | 77.2% | — | ||
| Q2 24 | 39.8% | — | ||
| Q1 24 | 62.1% | — |
| Q4 25 | 0.8% | — | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 6.1% | — | ||
| Q4 24 | 3.3% | — | ||
| Q3 24 | 1.0% | — | ||
| Q2 24 | 0.8% | — | ||
| Q1 24 | 6.3% | — |
| Q4 25 | 1.27× | 0.29× | ||
| Q3 25 | 1.68× | -0.66× | ||
| Q2 25 | 2.40× | -0.18× | ||
| Q1 25 | 5.96× | — | ||
| Q4 24 | 1.22× | — | ||
| Q3 24 | 2.14× | — | ||
| Q2 24 | 1.35× | — | ||
| Q1 24 | 2.50× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HLNE
| Management And Advisory Fee Revenue Specialized Funds | $98.5M | 50% |
| Incentive Fee Revenue Specialized Funds | $39.4M | 20% |
| Management And Advisory Fee Revenue Customized Separate Accounts | $36.1M | 18% |
| Management And Advisory Fee Revenue Reporting And Other | $9.3M | 5% |
| Incentive Fee Revenue Customized Separate Accounts | $5.9M | 3% |
| Management And Advisory Fee Revenue Advisory | $4.8M | 2% |
| Management And Advisory Fee Revenue Fund Reimbursement Revenue | $3.9M | 2% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
