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PJT Partners Inc.

PJT Financial Capital Markets

PJT Partners Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.7 billion, up 14.8% from fiscal 2024.

Revenue
−13.9%
EPS
+35.4%
Free cash flow
+26.5%

Quarter to September 2026, against a year earlier

153.45 4.67 −2.95%
Market cap
$3.9B
P/E
18.7×
Fwd P/E
35.4×
Dividend yield
0.65%
F-score
8/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 3.74
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — 2 — 1 3 — — —
Insider Ownership 6.70%

Capital & Financial Ratios $m

Size
Market Cap 3,920.00
Revenue ttm 1,824.78
Net income ttm 344.68
Free cash flow ttm 661.83
Net debt Q (235.54)
Valuation
P/E 18.74
Forward P/E 35.40 (above 35: high)
Price / sales 2.25
Forward P/S Powerpack
Price / FCF 6.19
Price / book 4.17
Financial health
Current ratio Q 2.08
Debt / equity Q 0.00
Interest coverage Q —
Growth
Revenue growth Q −13.86% (below 0%: shrinking)
Operating income growth Q −24.37% (below 0%: shrinking)
EPS, this year +5.74%
EPS, next year A +15.71% (at or above 15%: strong)
Revenue, next year A +7.78%
EPS, past 5 yrs +8.71%
EPS, next 5 yrs A +10.70%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 25.72%
10-year low 10-year high
P/S against its own 10 years 79.15%
10-year low 10-year high
P/B against its own 10 years 79.85%
10-year low 10-year high

Dividends

Yield
0.65%
Annual rate
1.00
Payout ratio
14.0%
Growth, 2017–25
+22.3%/yr
  1. 0.20 ’17
  2. 0.20 ’18 +0
  3. 0.20 ’19 +0
  4. 0.20 ’20 +0
  5. 0.20 ’21 +0
  6. 1.00 ’22 +400
  7. 1.00 ’23 +0
  8. 1.00 ’24 +0
  9. 1.00 ’25 +0
  10. 1.00 ’26e +0
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 356 484 539 236
Receivables 264 321 404 394
Inventory — — — —
Other — — — —
619 805 943 630
2023 2024 2025 Q'26
Payables 22 34 34 38
ST’ Debt — — — —
Other — — — —
203 340 382 303

Compound Annual Growth %

10y 5y 3y
Sales 15.49% 10.24% 18.67%
Cash Flow 16.72% 2.31% 29.43%
Earnings 37.28% 8.92% 25.77%
Book Value 41.18% 7.97% 9.93%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.44 Actual 1.41

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 2.41 2.55 Beat by 0.14
Q1 FY26 1.51 1.54 Beat by 0.03
Q2 FY26 1.65 1.97 Beat by 0.32
Q3 FY26 1.44 1.41 Miss by 0.03
Q4 FY26 2.70 — Reports 2 February 2027

EPS $

Mar Jun Sep Dec Year
’26 2.21 1.66 1.31 — —
’25 1.99 1.21 1.47 1.97 6.68
’24 1.22 1.06 0.79 1.83 4.92
’23 0.67 0.86 0.68 0.87 3.12
’22 1.00 0.74 0.82 0.95 3.51
’21 1.03 0.89 0.82 1.32 3.99
’20 0.72 0.86 1.22 1.67 4.40
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 418 486 385 — —
’25 325 407 447 535 1,714
’24 329 360 326 477 1,493
’23 200 346 278 329 1,153
’22 246 233 266 280 1,026
’21 207 241 231 313 992
’20 200 233 298 322 1,052
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 64 237 — — —
’25 (76) 190 256 156 526
’24 (39) 194 180 196 531
’23 (23) 191 150 124 442
’22 (42) 160 161 (35) 243
’21 (150) 102 181 (9) 124
’20 (25) 147 178 169 469
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 56 226 — — —
’25 (78) 179 241 139 480
’24 (39) 193 179 195 528
’23 (25) 190 150 123 438
’22 (43) 159 160 (36) 239
’21 (150) 100 178 (11) 118
’20 (30) 146 176 169 461
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 499 499 580 718 1,052 992 1,026 1,153 1,493 1,714 1,825 +14.7% 1,847 2,106 2,197 +8.6%
Gross margin, % 23.71 21.58 26.85 30.03 35.06 35.48 34.75 30.16 30.88 32.43 33.09 +8.7 pt
EBT 15 10 42 82 248 219 201 178 271 343 374 +42.1%
EBT margin, % 2.90 2.01 7.15 11.45 23.56 22.12 19.65 15.40 18.12 20.01 20.51 +17.1 pt
Net income 5 (28) 43 64 212 190 165 146 238 310 345 +57.8%
Per share, $
Per share, $ Revenue 27.30 26.48 26.52 29.89 42.96 39.74 40.89 45.66 58.66 66.62 68.35 +10.4%
Earnings (0.17) (1.73) 1.23 1.23 4.80 4.25 3.61 3.24 5.28 7.00 8.19 n/m
Cash flow 6.39 5.90 5.62 8.80 19.16 4.97 9.68 17.48 20.86 20.46 0.00 +13.8%
Capex (0.72) (0.06) (0.33) (0.37) (0.36) (0.26) (0.14) (0.16) (0.13) (1.78) 0.00 +10.7%
Free cash flow 5.67 5.84 5.29 8.43 18.80 4.72 9.54 17.33 20.73 18.68 0.00 +14.2%
Book value (0.47) 22.40 22.29 23.93 28.08 25.54 30.29 34.10 35.42 39.23 0.00 n/m
Shares, m 18 19 22 24 24 25 25 25 25 26 26 +3.9%
Valuation, ×
Valuation, × P/E 0.00 0.00 31.51 36.71 15.74 17.43 20.99 31.00 29.89 23.85 18.74 20.7
P/S 1.14 1.71 1.46 1.51 1.75 1.86 1.85 2.20 2.69 2.51 2.25 1.9
P/B 0.00 2.02 1.74 1.89 2.68 2.90 2.50 2.95 4.46 4.26 4.17 2.5
EV/Sales 0.84 1.42 1.33 1.30 1.52 1.71 1.72 1.93 2.40 2.22 — 1.6
EV/FCF 4.03 6.42 6.67 4.59 3.46 14.45 7.39 5.09 6.78 7.93 — 6.7
Cash, $m
Cash, $m Operating cash flow 117 111 123 211 469 124 243 442 531 526 713 +18.2%
Capex (13) (1) (7) (9) (9) (6) (3) (4) (3) (46) (51) +14.9%
Free cash flow 104 110 116 202 461 118 239 438 528 480 662 +18.6%
Balance, $m
Balance, $m Working capital 221 220 203 293 251 341 379 416 464 562 327 +10.9%
Net debt (152) (146) (76) (194) (300) (200) (173) (356) (484) (539) (236) +15.1%
Shareholders’ equity (9) 422 488 575 688 638 760 861 902 1,009 983 n/m
Returns, %
Returns, % ROA (0.57) (5.66) 4.37 3.63 11.06 9.83 8.88 6.58 8.75 10.36 0.00 +10.9 pt
ROIC 0.00 2.27 6.30 13.52 39.91 31.38 21.48 21.95 40.48 45.58 0.00 +45.6 pt
ROE (25.80) (15.73) 5.91 5.56 18.62 16.02 12.96 10.09 15.25 18.85 0.00 +44.7 pt
People
People Employees 419 473 590 678 749 833 907 1,012 1,143 1,224 — +12.6%
Revenue/emp, $m 1.19 1.06 0.98 1.06 1.40 1.19 1.13 1.14 1.31 1.40 — +1.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

PJT Partners Inc. vs peers in Capital Markets (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
GLXY Galaxy Digital Inc. $5.0B — (loss-making) 205× −0.99% (below 0%: shrinking) n/m +80.14% (above 0%: growing) 0.86% (1.21%) Compare
BGC BGC Group, Inc. $4.9B 25.7× 7.4× +7.85% (above 0%: growing) +36.36% (above 0%: growing) +164.18% (above 0%: growing) 97.58% 12.38% Compare
PIPR Piper Sandler Companies $4.7B 15.8× 14.2× −7.56% (below 0%: shrinking) −33.84% (below 0%: shrinking) +58.77% (above 0%: growing) 98.61% 15.04% Compare
MC Moelis & Company $4.7B 19.3× 21.1× +12.05% (above 0%: growing) +16.36% (above 0%: growing) +8.25% (above 0%: growing) 100.00% 17.79% Compare
FIGR Figure Technology Solutions, Inc. $4.7B 19.6× 20.3× +112.66% (above 0%: growing) +254.55% (above 0%: growing) −119.20% (below 0%: shrinking) 87.18% 34.46% Compare
MRX Marex Group PLC $4.7B 15.3× 10.4× +76.97% (above 0%: growing) +94.87% (above 0%: growing) +54.74% (above 0%: growing) 100.00% 21.10% Compare
PJT PJT Partners Inc. $3.9B 18.7× 35.4× −13.86% (below 0%: shrinking) +35.37% (above 0%: growing) +26.53% (above 0%: growing) 32.91% 17.86%
LAZ Lazard, Inc. $3.8B 22.0× 22.9× +8.84% (above 0%: growing) −61.97% (below 0%: shrinking) +9.21% (above 0%: growing) 100.00% 6.72% Compare
MIAX Miami International Holdings, Inc. $3.5B 10.7× 12.0× +10.71% (above 0%: growing) n/m −62.61% (below 0%: shrinking) 34.83% 12.55% Compare
Median of peers $4.7B 19.3× 17.3× +9.78% +26.36% +31.98% 98.10% 13.80%

All 97 Capital Markets stocks →

Pay and ownership Proxy statement filed 29 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 1.03m 8.23m 241.00
2024 1.03m 43.00m 379.00
2023 1.03m 38.45m 243.00
2022 40.12m 53.99m 173.00
2021 1.02m (31.60m) 172.00

Ownership

Directors and executive officers, together 30.90% of the votes
Paul J. Taubman 27.40% of the votes
BlackRock, Inc.6 8.70% of the votes
The Vanguard Group7 6.10% of the votes
Stephen A. Schwarzman8 2.90% of the votes
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

PJT Partners Inc. (PJT) Latest News

4 Nov

Impact 3 · · MarketBeat transcript

3 Nov

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Impact 3 · · Business Wire

29 Oct

Impact 3 · · Simply Wall St.

28 Oct

Impact 3 · · Zacks

22 Oct

Impact 3 · · Business Wire

19 Oct

Impact 3 · · StockStory

12 Oct

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9 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Simply Wall St.

7 Oct

Impact 3 · · The Motley Fool

13 Aug

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29 Jul

Impact 3 · · Moby transcript

28 Jul

Impact 4 ·
Impact 3 ·
Impact 3 · · MarketBeat transcript
Impact 3 ·
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27 Jul

Impact 3 ·

12 Jun

Impact 4 · · Stocktwits

2 May

Impact 3 · · Simply Wall St.

29 Apr

Impact 4 · · GuruFocus.com

28 Apr

Impact 4 · · MarketBeat
Impact 4 · · Zacks
Impact 4 · · StockStory
Impact 4 · · Business Wire

10 Feb

Impact 4 · · StockStoryGuruFocus.comStockStory transcript

9 Feb

Impact 3 · · StockStory

4 Feb

Impact 4 · · MarketBeat

PJT metrics, ten years each

stockrow.com/PJT · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com