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 $4.7B against $3.9B — 1.2× the size. PJT Partners Inc. trades at the lower P/E: 18.2× against 18.8×. Moelis & Company grew revenue faster over the last twelve months: 11.9% against 10.2%. Moelis & Company has the higher net margin (14.2% vs 10.5%) and the higher return on invested capital (40.1% vs 0.00%). Both pay a dividend; Moelis & Company yields more (4.56% vs 0.67%). Across the 20 metrics below, Moelis & Company leads on 10 and PJT Partners Inc. on 10.

Valuation

Metric MC PJT Capital Markets median
P/E 18.83 18.16 14.23
P/S 2.63 2.18 2.10
P/B 6.39 4.04 1.40
Price to free cash flow 8.56 6.00 8.80
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 5.31% 5.51% (8.06%)
Free cash flow yield 11.69% 16.67% (1.15%)

Profitability

Metric MC PJT Capital Markets median
Gross margin 100.00% 33.09% 68.15%
Operating margin 19.68% 20.51% 0.00%
Net margin 14.22% 10.50% (0.34%)
Free cash flow margin 30.69% 0.00% 0.00%
Return on equity 36.11% 0.00% 0.00%
Return on assets 15.25% 0.00% 0.00%
Return on invested capital 40.08% 0.00% 0.00%

Growth

Metric MC PJT Capital Markets median
Revenue growth (TTM) 11.93% 10.21% 19.72%
EPS growth (last fiscal year) 65.17% 35.77% 16.79%
Revenue growth, 5-year CAGR 9.97% 10.24% 17.41%
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 0.07
Current ratio 1.71 2.08 1.51
Net debt to EBITDA (1.78) (1.44) (0.03)

Dividend

Metric MC PJT Capital Markets median
Dividend yield 4.56% 0.67% 1.60%
Payout ratio 0.91 0.14 0.19

Size

Metric MC PJT Capital Markets median
Market cap 4.74b 3.92b 502.20m

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