Company Valuation: Hamilton Lane Incorporated

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 2,875 2,855 4,563 6,443 4,368 4,578 - -
Change - -0.68% 59.81% 41.21% -32.21% 4.82% - -
Enterprise Value (EV) 1 2,974 2,969 4,644 6,504 4,285 4,025 3,633 3,216
Change - -0.17% 56.42% 40.05% -34.12% -6.07% -9.73% -11.49%
P/E - - 30.6x 27.5x - 14x 14.1x -
PBR 8.14x 9.62x 11.6x 8.74x 3.69x 3.95x 2.98x 2.57x
PEG - - - 0.6x - - -15.37x -
Capitalization / Revenue 7.81x 5.4x 10.1x 9.04x 5.75x 4.64x 4.35x 3.78x
EV / Revenue 8.08x 5.62x 10.3x 9.12x 5.65x 4.08x 3.46x 2.66x
EV / EBITDA 16.2x 11.4x 17x 17.8x 10.5x 8.55x - -
EV / EBIT 17.5x 12.4x 18.9x 20.5x 13.2x 8.89x 7.89x 5.75x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 1.4 1.6 1.78 1.96 2.16 2.41 2.639 2.884
Rate of return 1.81% 2.16% 1.58% 1.32% 2.17% 2.25% 2.47% 2.7%
EPS 2 - - 3.69 5.41 - 7.63 7.56 -
Distribution rate - - 48.2% 36.2% - 31.6% 34.9% -
Net sales 1 367.9 528.8 451.9 713 759 986.4 1,052 1,210
EBITDA 1 183.9 259.8 272.5 366.1 407.6 470.6 - -
EBIT 1 169.6 240 245.8 316.6 324.9 452.7 460.7 559.7
Net income 1 - 109.1 140.9 217.4 - 412.2 408.4 -
Net Debt 1 99.19 113.8 81.52 61.14 -82.54 -552.9 -944.5 -1,362
Reference price 2 77.29 73.98 112.76 148.67 99.40 106.88 106.88 106.88
Nbr of stocks (in thousands) 37,194 38,593 40,463 43,337 43,939 42,832 - -
Announcement Date 26/05/22 25/05/23 23/05/24 29/05/25 21/05/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- 4.08x8.55x2.25% 457.79Cr
23.87x8.24x15.8x3.59% 11TCr
17.97x14.05x28.74x0.72% 9.81TCr
24.33x - - 3.8% 3.24TCr
11.68x4.82x9.46x5.22% 2.21TCr
17.63x1.86x7.14x3.79% 1.77TCr
15.2x4.68x12.9x2.85% 1.75TCr
15.14x9.57x - 9.66% 1.43TCr
33.89x19.32x26.53x - 1.2TCr
Average 19.96x 8.33x 15.59x 3.98% 3.71TCr
Weighted average by Cap. 20.52x 9.74x 19.36x 3.07%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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