Piper Sandler Companies (PIPR) vs PJT Partners Inc. (PJT)

Piper Sandler Companies and PJT Partners Inc. are both Capital Markets companies. Piper Sandler Companies is the larger, with a market value of $4.7B against $3.9B — 1.2× the size. Piper Sandler Companies trades at the lower P/E: 15.8× against 18.7×. Piper Sandler Companies grew revenue faster over the last twelve months: 21.1% against 10.2%. Piper Sandler Companies has the higher net margin (14.6% vs 10.5%) and the higher return on invested capital (0.00% vs 0.00%). Both pay a dividend; Piper Sandler Companies yields more (0.86% vs 0.65%). Across the 16 metrics below, Piper Sandler Companies leads on 12 and PJT Partners Inc. on 4.

Valuation

Metric PIPR PJT Capital Markets median
P/E 15.81 18.74 14.35
P/S 2.17 2.25 2.07
P/B 2.88 4.17 1.36
Price to free cash flow 9.28 6.19 9.28
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 6.33% 5.34% (8.28%)
Free cash flow yield 10.78% 16.15% (1.12%)

Profitability

Metric PIPR PJT Capital Markets median
Gross margin 98.96% 33.09% 68.15%
Operating margin 22.81% 20.51% 0.00%
Net margin 14.55% 10.50% (0.34%)
Free cash flow margin 0.00% 0.00% 0.00%
Return on equity 0.00% 0.00% 0.00%
Return on assets 0.00% 0.00% 0.00%
Return on invested capital 0.00% 0.00% 0.00%

Growth

Metric PIPR PJT Capital Markets median
Revenue growth (TTM) 21.05% 10.21% 19.72%
EPS growth (last fiscal year) 54.49% 35.77% 16.79%
Revenue growth, 5-year CAGR 8.93% 10.24% 17.41%
Net income growth, 5-year CAGR 47.35% 8.92% 0.00%

Health

Metric PIPR PJT Capital Markets median
Debt to equity 0.00 0.00 0.07
Current ratio 1.41 2.08 1.51
Net debt to EBITDA (1.72) (1.44) (0.03)

Dividend

Metric PIPR PJT Capital Markets median
Dividend yield 0.86% 0.65% 1.58%
Payout ratio 0.14 0.14 0.19

Size

Metric PIPR PJT Capital Markets median
Market cap 4.74b 3.92b 527.01m

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