Moelis & Company (MC) vs PJT Partners Inc. (PJT)

Moelis & Company and PJT Partners Inc. are both Capital Markets companies. Moelis & Company is the larger, with a market value of $4.5B against $3.5B — 1.3× the size. PJT Partners Inc. trades at the lower P/E: 17.9× against 18.0×. PJT Partners Inc. grew revenue faster over the last twelve months: 22.9% against 13.7%. Moelis & Company has the higher net margin (14.5% vs 10.6%) and the higher return on invested capital (41.8% vs 33.1%). Both pay a dividend; Moelis & Company yields more (4.77% vs 0.73%). Across the 20 metrics below, PJT Partners Inc. leads on 12 and Moelis & Company on 8.

Valuation

Metric MC PJT Capital Markets median
P/E 18.00 17.95 14.20
P/S 2.62 1.95 2.00
P/B 6.43 3.74 1.51
Price to free cash flow 9.52 5.56 6.36
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 5.55% 5.57% (3.94%)
Free cash flow yield 10.51% 17.99% (1.62%)

Profitability

Metric MC PJT Capital Markets median
Gross margin 100.00% 32.91% 62.80%
Operating margin 18.40% 21.01% 0.00%
Net margin 14.50% 10.58% (0.55%)
Free cash flow margin 27.54% 35.08% 0.00%
Return on equity 36.89% 21.79% 0.00%
Return on assets 16.60% 12.21% 0.00%
Return on invested capital 41.81% 33.13% 0.00%

Growth

Metric MC PJT Capital Markets median
Revenue growth (TTM) 13.69% 22.91% 20.70%
EPS growth (last fiscal year) 65.17% 35.77% 22.92%
Revenue growth, 5-year CAGR 9.97% 10.24% 18.16%
Net income growth, 5-year CAGR 5.44% 8.92% 0.00%

Health

Metric MC PJT Capital Markets median
Debt to equity 0.00 0.00 0.08
Current ratio 1.71 2.08 1.50
Net debt to EBITDA (1.78) (1.44) (0.24)

Dividend

Metric MC PJT Capital Markets median
Dividend yield 4.77% 0.73% 1.36%
Payout ratio 0.91 0.14 0.19

Size

Metric MC PJT Capital Markets median
Market cap 4.49b 3.48b 565.91m

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