Hamilton Lane Incorporated (HLNE) Balance Sheet
HLNE balance sheet, FY2026
March 31, 2026 · U.S. dollars$2.30B assets = $838.4M liabilities + $1.47B equity
Both columns are drawn to the same scale: what HLNE owns equals what it owes plus shareholders’ equity. Hover a block for its value.
HLNE financial health
Current ratio1.62
Comfortable · current assets cover current liabilities 1.62×
Debt / equity0.39
Low leverage · $0.39 of debt for each $1 of equity
Equity / assets39.7%
Balanced · of assets funded by shareholders
Cash / debt102.1%
Cash covers debt · cash & short-term investments vs total debt
Goodwill & intangibles0.0%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal FY2026.
HLNE balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $240.6MFY2017 | $2.30BFY2026 | +28.5%/yr | |
| Total liabilities | $154.0MFY2017 | $838.4MFY2026 | +20.7%/yr | |
| Shareholders’ equity | $86.6MFY2017 | $915.2MFY2026 | +29.9%/yr | |
| Cash & short-term investments | $32.3MFY2017 | $363.9MFY2026 | +30.9%/yr | |
| Total debt | $129.5MFY2017 | $356.5MFY2026 | +11.9%/yr | |
| Net cash (debt) | −$97.2MFY2017 | $7.4MFY2026 | +$104.6M | |
| Working capital | $37.7MFY2017 | $215.1MFY2026 | +$177.4M | |
| Book value per share | $4.72FY2017 | $16.79FY2026 | +15.1%/yr | |
| Current ratio | 3.60FY2017 | 1.62FY2026 | −1.98 | |
| Debt / equity | 1.49FY2017 | 0.39FY2026 | −1.11 | |
| Shares outstanding | 18.3MFY2017 | 54.5MFY2026 | +12.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HLNE assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
HLNE liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
HLNE debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
HLNE balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $363.9M | $277.3M | $114.6M | $111.7M | $72.2M | $87.3M | $50.1M | $49.4M | $47.6M | $32.3M |
| Cash & equivalents | $363.9M | $277.3M | $114.6M | $111.7M | $72.2M | $87.3M | $50.1M | $49.4M | $47.6M | $32.3M |
| Short-term investments | — | — | — | — | $503.8M | — | — | — | $1.8M | $1.8M |
| Receivables | $175.7M | $197.6M | $116.4M | $56.4M | $53.7M | $31.7M | $33.0M | $22.9M | $18.2M | $15.4M |
| Inventory | $0 | $0 | $10.2M | $185.5M | $1 | $1 | $1 | $1 | $1 | −$193,998 |
| Other current assets | $21.8M | $17.6M | $5.8M | $0 | $286.9M | $285.2M | $10.1M | $6.9M | $4.1M | $4.6M |
| Total current assets | $561.3M | $492.5M | $247.1M | $182.7M | $412.8M | $404.2M | $93.2M | $79.3M | $69.8M | $52.2M |
| Property, plant & equipment (net) | $96.4M | $99.0M | $95.4M | $90.8M | $94.5M | $87.7M | $17.0M | $8.1M | $4.8M | $4.1M |
| Goodwill & intangible assets | $0 | $12.4M | $14.2M | $15.9M | $22.1M | $11.9M | $16.2M | $10.4M | $7.0M | $1.5M |
| Long-term investments | $1.30B | $761.1M | $632.3M | $530.9M | $513.8M | $368.8M | $207.7M | $154.5M | $137.3M | $120.1M |
| Other non-current assets | $346.6M | $325.4M | $282.2M | $320.3M | $251.7M | $263.9M | $139.4M | $108.3M | $75.0M | $62.8M |
| Total assets | $2.30B | $1.69B | $1.27B | $1.14B | $1.29B | $1.14B | $473.5M | $360.6M | $293.8M | $240.6M |
| Liabilities | ||||||||||
| Accounts payable | $5.7M | $5.5M | $4.5M | $4.6M | $2.8M | $2.2M | $2.0M | $2.6M | $1.7M | $1.4M |
| Short-term debt | — | $21.7M | $11.3M | $25.3M | $9.8M | $23.1M | $3.7M | $3.7M | $6.2M | $45.2M |
| Deferred revenue | $55.6M | — | −$11.3M | −$25.3M | −$9.8M | −$23.1M | $3.7M | $3.7M | $6.2M | $45.2M |
| Total current liabilities | $346.2M | $293.2M | $247.4M | $210.0M | $223.4M | $225.0M | $114.8M | $95.0M | $51.6M | $14.5M |
| Long-term debt | $278.4M | $290.3M | $196.2M | $213.5M | $171.3M | $163.2M | $74.5M | $71.0M | $84.2M | $84.3M |
| Lease obligations | $78.1M | $78.0M | $79.0M | $78.8M | $82.2M | $75.3M | $10.2M | — | — | — |
| Other long-term liabilities | $213.7M | $183.0M | $151.7M | $142.8M | $162.7M | $158.1M | $46.8M | $24.9M | $22.0M | $55.2M |
| Total liabilities | $838.4M | $766.5M | $595.2M | $566.4M | $557.5M | $546.3M | $236.1M | $190.9M | $157.7M | $154.0M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $56,000 | $55,000 | $55,000 | $54,000 | $53,000 | $53,000 | $52,000 | $51,000 | $48,000 | $47,000 |
| Retained earnings (deficit) | $614.7M | $455.5M | $316.7M | $243.8M | $185.1M | $87.5M | $47.1M | $17.7M | $4.5M | $612,000 |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | −$2.2M |
| Accumulated other comprehensive income | $1.2M | −$141,000 | $676.0M | $0 | $737.5M | $590.2M | −$78,000 | $7,000 | −$9.5M | −$311,000 |
| Minority interest | $551.3M | $206.6M | $150.8M | $158.7M | $114.6M | $76.1M | $82.6M | $59.5M | $57.6M | — |
| Total shareholders' equity | $915.2M | $717.3M | $525.2M | $415.4M | $346.9M | $238.1M | $237.4M | $169.7M | $136.1M | $86.6M |
| Key figures | ||||||||||
| Total debt | $356.5M | $368.3M | $275.2M | $292.4M | $253.6M | $238.5M | $84.7M | $74.7M | $90.4M | $129.5M |
| Net cash (debt) | $7.4M | −$91.0M | −$160.6M | −$180.6M | −$181.4M | −$151.1M | −$34.6M | −$25.3M | −$42.8M | −$97.2M |
| Working capital | $215.1M | $199.3M | −$237,000 | −$27.3M | $189.4M | $179.2M | −$21.6M | −$15.8M | $18.3M | $37.7M |
| Tangible book value | $915.2M | $704.8M | $511.0M | $399.6M | $324.7M | $226.3M | $221.2M | $159.3M | $129.1M | $85.2M |
| Book value per share | $16.79 | $15.03 | $9.74 | $7.74 | $6.46 | $7.14 | $8.35 | $6.98 | $7.17 | $4.72 |
| Shares outstanding | 54.5M | 47.7M | 53.9M | 53.7M | 53.7M | 33.4M | 28.4M | 24.3M | 19.0M | 18.3M |
| Current ratio | 1.62 | 1.68 | 1.00 | 0.87 | 1.85 | 1.80 | 0.81 | 0.83 | 1.35 | 3.60 |
| Quick ratio | 1.56 | 1.62 | 0.93 | 0.80 | 0.56 | 0.53 | 0.72 | 0.76 | 1.28 | 3.29 |
| Debt / equity | 0.39 | 0.51 | 0.52 | 0.70 | 0.73 | 1.00 | 0.36 | 0.44 | 0.66 | 1.49 |
| Equity / assets | 39.7% | 42.4% | 41.3% | 36.4% | 26.8% | 21.0% | 50.1% | 47.1% | 46.3% | 36.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $337.0M | $363.9M | $340.2M | $240.8M | $315.9M | $277.3M | $321.5M | $227.0M | $166.3M | $114.6M | $164.4M | $229.8M |
| Cash & equivalents | $337.0M | $363.9M | $340.2M | $240.8M | $315.9M | $277.3M | $321.5M | $227.0M | $166.3M | $114.6M | $164.4M | $229.8M |
| Short-term investments | — | — | — | — | — | — | — | $33.2M | −$28.8M | — | — | — |
| Receivables | $228.0M | $175.7M | $207.1M | $178.2M | $178.2M | $197.6M | $157.0M | $112.0M | $155.3M | $126.7M | $77.7M | $69.6M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $33.2M | $0 | $252.1M | $261.6M | $1 |
| Other current assets | $19.1M | $21.8M | $20.2M | $0 | $16.9M | $17.6M | $15.3M | $0 | $12.3M | $0 | $0 | $11.5M |
| Total current assets | $584.1M | $561.3M | $567.6M | $240.8M | $510.9M | $492.5M | $493.7M | $361.6M | $333.9M | $257.3M | $256.6M | $310.9M |
| Property, plant & equipment (net) | $108.7M | $96.4M | $99.0M | $58.7M | $96.7M | $99.0M | $97.4M | $95.3M | $95.1M | $95.4M | $96.8M | $96.4M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $12.4M | $0 | $0 | $0 | $14.2M | $0 | $0 |
| Long-term investments | $1.48B | $1.30B | $1.17B | $1.04B | $862.5M | $761.1M | $716.5M | $669.1M | $649.5M | $632.3M | $603.6M | $676.8M |
| Other non-current assets | $366.1M | $346.6M | $333.8M | $644.1M | $331.9M | $325.4M | $283.5M | $298.5M | $293.5M | $272.0M | $251.8M | $274.6M |
| Total assets | $2.54B | $2.30B | $2.17B | $1.98B | $1.80B | $1.69B | $1.59B | $1.42B | $1.37B | $1.27B | $1.21B | $1.36B |
| Liabilities | ||||||||||||
| Accounts payable | $5.2M | $5.7M | $5.0M | $6.1M | $6.5M | $5.5M | $5.2M | $6.4M | $4.7M | $4.5M | $3.3M | $3.5M |
| Short-term debt | — | — | — | — | — | $21.7M | $2.1M | $4.4M | $6.6M | $11.3M | $2.2M | $4.4M |
| Deferred revenue | — | $55.6M | $31.8M | — | $25.1M | — | — | — | −$6.6M | −$11.3M | −$2.2M | −$4.4M |
| Total current liabilities | $144.3M | $346.2M | $318.2M | $6.1M | $318.4M | $293.2M | $239.1M | $235.5M | $246.1M | $247.4M | $215.1M | $206.5M |
| Long-term debt | $274.2M | $278.4M | $279.5M | $285.6M | $288.6M | $290.3M | $292.0M | $195.0M | $195.6M | $196.2M | $196.8M | $197.3M |
| Lease obligations | $90.6M | $78.1M | $80.3M | $75.6M | $76.9M | $78.0M | $77.8M | $79.9M | $78.9M | $79.0M | $80.4M | $80.9M |
| Other long-term liabilities | $382.5M | $213.7M | $247.0M | $530.6M | $200.0M | $183.0M | $197.9M | $191.9M | $193.4M | $151.7M | $172.8M | $173.3M |
| Total liabilities | $846.6M | $838.4M | $844.8M | $822.3M | $807.0M | $766.5M | $729.0M | $622.4M | $635.1M | $595.2M | $584.7M | $577.1M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $55,000 | $56,000 | $56,000 | $56,000 | $56,000 | $55,000 | $56,000 | $55,000 | $55,000 | $55,000 | $54,000 | $54,000 |
| Retained earnings (deficit) | $670.5M | $614.7M | $571.0M | $535.2M | $486.9M | $455.5M | $425.2M | $391.7M | $356.2M | $316.7M | $286.0M | $283.3M |
| Accumulated other comprehensive income | $638,000 | $1.2M | $1.1M | $1.2M | $140,000 | −$141,000 | — | — | $0 | $0 | $0 | — |
| Minority interest | $752.8M | $551.3M | $448.7M | $332.2M | $236.2M | — | — | — | — | — | — | — |
| Total shareholders' equity | $939.3M | $915.2M | $877.4M | $825.8M | $758.8M | $717.3M | $649.3M | $606.6M | $566.4M | $525.2M | $467.9M | $462.5M |
| Key figures | ||||||||||||
| Total debt | $364.8M | $356.5M | $359.8M | $436.7M | $365.5M | $368.3M | $369.9M | $274.9M | $274.5M | $275.2M | $277.1M | $278.3M |
| Net cash (debt) | −$27.8M | $7.4M | −$19.7M | −$195.9M | −$49.6M | −$91.0M | −$48.4M | −$47.9M | −$108.2M | −$160.6M | −$112.7M | −$48.5M |
| Working capital | $439.8M | $215.1M | $249.3M | $234.7M | $192.5M | $199.3M | $254.6M | $126.0M | $87.8M | $10.0M | $41.4M | $104.4M |
| Tangible book value | $939.3M | $915.2M | $877.4M | $825.8M | $758.8M | $704.8M | $649.3M | $606.6M | $566.4M | $511.0M | $467.9M | $462.5M |
| Book value per share | $17.26 | $16.82 | $16.10 | $15.15 | $13.93 | $17.49 | $11.92 | $11.20 | $10.48 | $9.64 | $8.67 | $8.57 |
| Shares outstanding | 54.4M | 54.4M | 54.5M | 54.5M | 54.5M | 41.0M | 54.5M | 54.2M | 54.0M | 54.5M | 54.0M | 53.9M |
| Current ratio | 4.05 | 1.62 | 1.78 | 39.60 | 1.60 | 1.68 | 2.06 | 1.54 | 1.36 | 1.04 | 1.19 | 1.51 |
| Quick ratio | 3.92 | 1.56 | 1.72 | 68.90 | 1.55 | 1.62 | 2.00 | 1.44 | 1.31 | 0.98 | 1.13 | 1.45 |
| Debt / equity | 0.39 | 0.39 | 0.41 | 0.53 | 0.48 | 0.51 | 0.57 | 0.45 | 0.48 | 0.52 | 0.59 | 0.60 |
| Equity / assets | 37.0% | 39.7% | 40.4% | 41.7% | 42.1% | 42.4% | 40.8% | 42.6% | 41.3% | 41.3% | 38.7% | 34.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed May 21, 2026); data from EODHD.
HLNE financial position
At the end of fiscal 2026 (March 31, 2026), Hamilton Lane had total assets of $2.3 billion (up 36.4% from a year earlier), total liabilities of $838.4 million and shareholders' equity of $915.2 million. It held $363.9 million in cash and short-term investments against $356.5 million of debt, a net cash position of $7.4 million. Its current ratio was 1.62. In the latest quarter (ended June 30, 2026) total assets were $2.5 billion and equity $939.3 million.
Related: HLNE income statement, HLNE cash flow statement, HLNE key metrics. See the HLNE stock overview for the latest quote and news.
HLNE balance sheet FAQ
What are Hamilton Lane's total assets?
Hamilton Lane reported total assets of $2.3 billion at the end of fiscal 2026 (March 31, 2026), compared with $1.7 billion a year earlier.
How much debt does Hamilton Lane have?
Hamilton Lane had $356.5 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.39.
How much cash does Hamilton Lane have?
Hamilton Lane held $363.9 million in cash and short-term investments at the end of fiscal 2026; with $356.5 million of debt that is net cash of $7.4 million.
What is Hamilton Lane's book value?
Hamilton Lane's shareholders' equity (book value) was $915.2 million at the end of fiscal 2026, or $16.79 per share.
What is Hamilton Lane's current ratio?
Hamilton Lane had current assets of $561.3 million and current liabilities of $346.2 million, a current ratio of 1.62 (it can cover its short-term obligations).