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Hamilton Lane

DB:1M0
Snowflake Description

Adequate balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1M0
DB
$3B
Imp Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Hamilton Lane Incorporated is an investment firm specializing in direct and fund of fund investments. The last earnings update was 56 days ago. More info.


Add to Portfolio Compare Print
  • Hamilton Lane is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Hamilton Lane has significant price volatility in the past 3 months.
1M0 Share Price and Events
7 Day Returns
0.9%
DB:1M0
-6.8%
DE Capital Markets
-2.7%
DE Market
1 Year Returns
16.5%
DB:1M0
-11.8%
DE Capital Markets
-20.4%
DE Market
1M0 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Hamilton Lane (1M0) 0.9% -21.7% -13.6% 16.5% 165.7% -
DE Capital Markets -6.8% -21.9% -18% -11.8% -29% -57.8%
DE Market -2.7% -18.4% -26.7% -20.4% -25.9% -30.4%
1 Year Return vs Industry and Market
  • 1M0 outperformed the Capital Markets industry which returned -11.8% over the past year.
  • 1M0 outperformed the Market in Germany which returned -20.4% over the past year.
Price Volatility
1M0
Industry
5yr Volatility vs Market

Value

 Is Hamilton Lane undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Hamilton Lane to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Hamilton Lane.

DB:1M0 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $3.61 * 71.1%
$2.57
Book Value of Equity per Share Median Book Value from the past 5 years. $3.61
Discount Rate (Cost of Equity) See below 4.2%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:1M0
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.747 (1 + (1- 21%) (2.83%))
0.842
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.842 * 5.44%)
4.19%

Discounted Cash Flow Calculation for DB:1M0 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Hamilton Lane is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:1M0 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (71.1% – 4.19%) * $3.61)
$2.42
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $2.42 / (4.19% - -0.39%)
$52.80
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $3.61 + $52.80
$56.41
DB:1M0 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:1M0 represents 0.9021x of NasdaqGS:HLNE
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.9021x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 56.41 x 0.9021
€50.89
Value per share (EUR) From above. €50.89
Current discount Discount to share price of €45.80
= -1 x (€45.80 - €50.89) / €50.89
10%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Hamilton Lane is available for.
Intrinsic value
10%
Share price is €45.8 vs Future cash flow value of €50.89
Current Discount Checks
For Hamilton Lane to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Hamilton Lane's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Hamilton Lane's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Hamilton Lane's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Hamilton Lane's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:1M0 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $1.78
NasdaqGS:HLNE Share Price ** NasdaqGS (2020-04-02) in USD $50.77
Germany Capital Markets Industry PE Ratio Median Figure of 17 Publicly-Listed Capital Markets Companies 22.18x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.15x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Hamilton Lane.

DB:1M0 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:HLNE Share Price ÷ EPS (both in USD)

= 50.77 ÷ 1.78

28.55x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hamilton Lane is overvalued based on earnings compared to the DE Capital Markets industry average.
  • Hamilton Lane is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Hamilton Lane's expected growth come at a high price?
Raw Data
DB:1M0 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 28.55x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
6.2%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 7 Publicly-Listed Capital Markets Companies 1.55x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

DB:1M0 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 28.55x ÷ 6.2%

4.6x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hamilton Lane is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Hamilton Lane's assets?
Raw Data
DB:1M0 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $4.81
NasdaqGS:HLNE Share Price * NasdaqGS (2020-04-02) in USD $50.77
Germany Capital Markets Industry PB Ratio Median Figure of 32 Publicly-Listed Capital Markets Companies 1.55x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:1M0 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:HLNE Share Price ÷ Book Value per Share (both in USD)

= 50.77 ÷ 4.81

10.55x

* Primary Listing of Hamilton Lane.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hamilton Lane is overvalued based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess Hamilton Lane's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Hamilton Lane has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Hamilton Lane expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Hamilton Lane expected to grow at an attractive rate?
  • Hamilton Lane's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Hamilton Lane's earnings growth is positive but not above the Germany market average.
  • Hamilton Lane's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:1M0 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:1M0 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 6.2%
DB:1M0 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 14.5%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 40%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 0.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:1M0 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:1M0 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-03-31 356 72 5
2021-03-31 313 76 7
2020-04-02
2020-03-31 268 78 7
DB:1M0 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 264 113 48
2019-09-30 262 105 40
2019-06-30 254 107 36
2019-03-31 252 112 34
2018-12-31 263 108 39
2018-09-30 262 107 27
2018-06-30 255 105 21
2018-03-31 244 97 17
2017-12-31 213 99 4
2017-09-30 190 100 11
2017-06-30 193 93 6
2017-03-31 180 82 1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Hamilton Lane's earnings are expected to grow by 6.2% yearly, however this is not considered high growth (20% yearly).
  • Hamilton Lane's revenue is expected to grow by 14.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:1M0 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Hamilton Lane Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1M0 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-03-31 2.40 2.40 2.40 1.00
2021-03-31 1.87 2.03 1.70 2.00
2020-04-02
2020-03-31 1.93 1.93 1.93 1.00
DB:1M0 Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 1.78
2019-09-30 1.54
2019-06-30 1.45
2019-03-31 1.41
2018-12-31 1.75
2018-09-30 1.32
2018-06-30 1.06
2018-03-31 0.94
2017-12-31 0.23
2017-09-30 0.56
2017-06-30 0.32
2017-03-31 0.03

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Hamilton Lane is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
X
Future performance checks
We assess Hamilton Lane's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Hamilton Lane has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Hamilton Lane performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Hamilton Lane's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Hamilton Lane has delivered over 20% year on year earnings growth in the past 5 years.
  • Hamilton Lane's 1-year earnings growth is less than its 5-year average (23.6% vs 70%)
  • Hamilton Lane's earnings growth has exceeded the DE Capital Markets industry average in the past year (23.6% vs 5.7%).
Earnings and Revenue History
Hamilton Lane's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Hamilton Lane Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1M0 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 264.10 48.23 57.52
2019-09-30 261.96 40.19 55.55
2019-06-30 253.50 36.11 53.24
2019-03-31 252.18 33.57 50.24
2018-12-31 262.80 39.02 47.29
2018-09-30 261.82 27.26 44.07
2018-06-30 254.69 20.72 40.80
2018-03-31 244.03 17.34 38.21
2017-12-31 213.10 4.46 34.32
2017-09-30 190.42 10.76 32.45
2017-06-30 192.96 6.08 31.34
2017-03-31 179.82 0.61 31.59
2016-12-31 174.48 -41.03 30.55
2016-09-30 187.25 -20.21 29.09
2016-06-30 174.79 -22.82 27.75
2016-03-31 180.80 0.00 26.90
2015-03-31 155.39 0.00 26.87
2014-03-31 139.76 62.46 24.76

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Hamilton Lane made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%).
  • Hamilton Lane used its assets more efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • Hamilton Lane's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Hamilton Lane's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Hamilton Lane has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Hamilton Lane's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Hamilton Lane's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Hamilton Lane is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Hamilton Lane's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Hamilton Lane's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Hamilton Lane Company Filings, last reported 3 months ago.

DB:1M0 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 216.35 67.25 81.60
2019-09-30 204.63 69.11 71.90
2019-06-30 177.84 70.03 58.87
2019-03-31 169.72 70.95 49.36
2018-12-31 173.13 71.88 78.94
2018-09-30 162.15 72.80 75.18
2018-06-30 144.93 83.71 53.64
2018-03-31 136.07 84.16 47.60
2017-12-31 108.02 84.62 68.76
2017-09-30 103.34 85.07 49.00
2017-06-30 97.59 83.75 46.56
2017-03-31 86.63 84.31 32.48
2016-12-31 -124.23 241.42 54.75
2016-09-30 -103.64 242.45 58.30
2016-06-30 -116.77 242.88 61.95
2016-03-31 -111.94 243.32 68.81
2015-03-31 73.69 107.72 67.09
2014-03-31
  • Hamilton Lane's level of debt (31.1%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Hamilton Lane's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (167.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 49x coverage).
X
Financial health checks
We assess Hamilton Lane's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Hamilton Lane has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Hamilton Lane's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.17%
Current annual income from Hamilton Lane dividends. Estimated to be 2.58% next year.
If you bought €2,000 of Hamilton Lane shares you are expected to receive €43 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Hamilton Lane's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.65%).
  • Hamilton Lane's dividend is below the markets top 25% of dividend payers in Germany (4.86%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:1M0 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 320 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:1M0 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-03-31 1.38 4.00
2021-03-31 1.25 5.00
2020-04-02
2020-03-31 1.03 5.00
DB:1M0 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-11-05 1.100 1.843
2019-08-06 1.100 1.890
2019-05-30 1.100 1.957
2019-05-29 1.100 2.237
2018-11-06 0.850 2.056
2018-08-07 0.850 1.969
2018-06-07 0.850 1.751
2018-02-09 0.700 1.756
2018-02-06 0.700 1.960
2017-11-13 0.700 1.995
2017-11-07 0.700 2.302
2017-08-10 0.700 2.804
2017-08-08 0.700 3.121
2017-06-27 0.700 3.156
2017-06-12 0.700 3.253

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Hamilton Lane has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Hamilton Lane only paid a dividend in the past 3 years.
Current Payout to shareholders
What portion of Hamilton Lane's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Hamilton Lane's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Hamilton Lane afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Hamilton Lane has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Hamilton Lane's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Mario Giannini
COMPENSATION $1,733,033
AGE 65
TENURE AS CEO 19.3 years
CEO Bio

Mr. Mario Lucio Giannini, J.D. has been the Chief Executive Officer of Hamilton Lane Advisors, L.L.C. since 2001. Mr. Giannini serves as the Chief Executive Officer of Private Equity Women Investor Network. He is a Co-Owner of HLA Investments, LLC. He has been Chief Executive Officer of Hamilton Lane Incorporated since 2001. He focuses on the North America region. Previously, he focused on the United States region. He joined Hamilton Lane Advisors and Private Equity Women Investor Network on September 23, 1993. Mr. Giannini is responsible for Hamilton Lane’s strategic direction and oversees the development of its management structure and process. Mr. Giannini also plays a significant role in providing client services to Hamilton Lane's numerous clients and in marketing its products and services. He serves as Chief Executive Officer of International SMID Fund. He has over 24 years of operating, management and legal experience in the financial services industry. He was Investment Professional at American Securities. Mr. Giannini was the President of Hamilton Lane Advisors, L.L.C. from 1998 to 2001. Prior to joining Hamilton Lane in 1993, he served as an Executive Vice President and General Counsel at Industrial Valley Title Insurance Company from 1989 to 1992 and Deputy General Counsel at Fidelity Bank in Philadelphia from 1984 to 1989. He served as a Senior Attorney at Continental Illinois Bank from 1979 to 1983. He serves as a Member of Advisory Board of TPG Partners IV, L.P. and TPG Partners III,L.P. He serves as a Director of Hamilton Lane Private Equity Fund VIII, L.P., International SMID Fund, Hamilton Lane Private Equity Partners VI, L.P. Mr. Giannini has been a Director of Hamilton Lane Advisors, L.L.C. since 1998. He has been a Director of Hamilton Lane Incorporated since 1998. He was a member of the state bar associations of California and Illinois. Mr. Giannini holds a J.D. from Boston College, a Master of Law degree from the University of Virginia and a B.A. degree from California State University.

CEO Compensation
  • Mario's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Mario's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Hamilton Lane management team in years:

2.1
Average Tenure
54.5
Average Age
  • The tenure for the Hamilton Lane management team is about average.
Management Team

Hartley Rogers

TITLE
Chairman & MD
COMPENSATION
$2M
AGE
58

Mario Giannini

TITLE
CEO & Director
COMPENSATION
$2M
AGE
65
TENURE
19.3 yrs

Erik Hirsch

TITLE
Vice Chairman & Head of Strategic Initiatives
COMPENSATION
$3M
AGE
46

Randy Stilman

TITLE
Executive Officer
COMPENSATION
$852K
AGE
57
TENURE
0.3 yrs

Juan Delgado-Moreira

TITLE
Vice Chairman & Head of Asia Business
COMPENSATION
$2M
AGE
48

Andrea Kramer

TITLE
Head of Fund Investments

Atul Varma

TITLE
CFO & Treasurer
TENURE
0.3 yrs

Kevin Lucey

TITLE
Chief Operating Officer
AGE
52
TENURE
9.3 yrs

John Oh

TITLE
Vice President of Investor Relations
TENURE
1.3 yrs

Fred Shaw

TITLE
Head of Compliance Risk & Strategic Integrations
TENURE
3 yrs
Board of Directors Tenure

Average tenure and age of the Hamilton Lane board of directors in years:

3.1
Average Tenure
60
Average Age
  • The tenure for the Hamilton Lane board of directors is about average.
Board of Directors

Hartley Rogers

TITLE
Chairman & MD
COMPENSATION
$2M
AGE
58
TENURE
3.2 yrs

Mario Giannini

TITLE
CEO & Director
COMPENSATION
$2M
AGE
65
TENURE
13.3 yrs

Erik Hirsch

TITLE
Vice Chairman & Head of Strategic Initiatives
COMPENSATION
$3M
AGE
46

Leslie Varon

TITLE
Independent Director
COMPENSATION
$137K
AGE
62
TENURE
2.9 yrs

Griff Sexton

TITLE
Independent Director
COMPENSATION
$118K
AGE
75
TENURE
3.1 yrs

David Berkman

TITLE
Independent Director
COMPENSATION
$125K
AGE
58
TENURE
2.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
26. Nov 19 Sell Tara Blackburn Individual 22. Nov 19 22. Nov 19 -10,000 €50.39 €-503,909
16. Sep 19 Sell Hartley Rogers Individual 12. Sep 19 12. Sep 19 -78,456 €54.34 €-4,263,225
16. Sep 19 Sell Juan Delgado-Moreira Individual 12. Sep 19 12. Sep 19 -150,000 €54.34 €-8,150,858
06. Jun 19 Sell Michael Kelly Individual 05. Jun 19 05. Jun 19 -3,792 €46.94 €-177,980
X
Management checks
We assess Hamilton Lane's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Hamilton Lane has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Hamilton Lane Incorporated is an investment firm specializing in direct and fund of fund investments. It provides following services: separate accounts (customized to each individual client and structured as single client vehicles); specialized strategies (fund-of-funds, secondaries, co-investments, taft-hartley, distribution management); advisory relationships (including due diligence, strategic portfolio planning, monitoring and reporting services); and reporting and analytics solutions. For direct investments, the firm invests in mid and late venture, mature companies, growth equity, emerging growth, distressed debt, later stage, turnarounds, bridge financing, mezzanine financing, and buyouts in middle market companies. For fund of fund investments, it invests in mezzanine, venture capital, private equity, turnaround, secondary investments, real estate, and special situation funds. The firm invests in real estate investments. It also invest in technology, healthcare, education, natural resources, energy and essential consumer goods sectors, and cleantech. The firm prefer to invest $1 million to $100 million in companies. It invests in private equity markets in North America, Latin America, United States, Western Europe, Middle East, Africa, United Kingdom, Asia, Japan, and Australia. It prefer to have majority stake in companies. Hamilton Lane Incorporated was founded in 1991 and is based in Bala Cynwyd, Pennsylvania with additional thirteen offices across Europe, North America, and Asia.

Details
Name: Hamilton Lane Incorporated
1M0
Exchange: DB
Founded: 1991
$2,486,238,440
$1,392,471,225
53,258,977
Website: http://www.hamiltonlane.com
Address: Hamilton Lane Incorporated
One Presidential Boulevard,
4th Floor,
Bala Cynwyd,
Pennsylvania, 19004,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS HLNE Class A Common Shares Nasdaq Global Select US USD 01. Mar 2017
DB 1M0 Class A Common Shares Deutsche Boerse AG DE EUR 01. Mar 2017
Number of employees
Current staff
Staff numbers
370
Hamilton Lane employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/02 23:53
End of day share price update: 2020/04/02 00:00
Last estimates confirmation: 2020/03/29
Last earnings filing: 2020/02/06
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.