8-K Announcements
6Material company update
Apr 28, 2026·SEC
Material company update
Feb 3, 2026·SEC
Material company update
Nov 26, 2025·SEC
PJT Partners Inc.(PJT)Earnings, Financials & Key Ratios
PJT•NYSE
$168.56
25.2× P/E·Price updated Jul 7, 2026
AboutPJT Partners Inc., an investment bank, provides various strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures. The company also advises private and public company boards and management teams on strategies for building productive investor relationships with a focus on shareholder engagement; and strategic investor relations; environmental, social, and governance matters; and other investor-related matters. In addition, it provides advisory services related to debt and acquisition financings; structured product offerings; public equity raises, including initial public offering and SPAC offerings; and private capital raises for early and later stage companies, as well as other capital structure related matters. Further, the company offers advisory services in restructurings and recapitalizations; and serving a range of companies, creditors, and financial sponsors on liability management and related capital raise transactions, including exchanges, recapitalizations, reorganizations, debt repurchases, and distressed mergers and acquisitions. Additionally, it provides private fund advisory and fundraising services for a range of investment strategies; and advisory services to GPs and LPs on liquidity and other structured solutions in the secondary market. The company was formerly known as Blackstone Advisory Inc. and changed its name to PJT Partners Inc. in March 2015. PJT Partners Inc. was incorporated in 2014 and is headquartered in New York, New York.Show more
- EBITDA$394M+23.7%
- Net Income$180M+34.0%
- EPS (Diluted)6.68+35.8%
- Gross Margin32.43%+5.0%
- EBITDA Margin23%+7.8%
- Operating Margin21.17%+9.1%
- Net Margin10.51%+16.8%
- ROE18.85%+23.6%
PJT Price & Volume
PJT Partners Inc. (PJT) stock price & volume — 10-year historical chart
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Advisory Margin Expansion Offsets Compensation Volatility Risks
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Mixed
Profitability:Moderate
Financial:Healthy
Cash Flow:Mixed
Primary Risk:Success fee timing volatility
Key Thesis Takeaways
- PJT Partners demonstrates a resilient advisory model, evidenced by gross margins expanding from 29.3% in 2023Q4 to 33.0% by 2026Q1, reflecting strong pricing power in specialized restructuring.
- While the firm maintains a healthy balance sheet with zero debt as of 2026Q1, investors must weigh the benefits of this scaling against the significant dilution risk posed by $85.1M in quarterly stock-based compensation.
- Future performance remains tethered to the lumpy nature of transaction closings, which necessitates a cautious approach to valuation given the current 22.70 P/E ratio.
Verdict Logic
while the firm exhibits strong liquidity with a 35.66 current ratio, the high 22.70 P/E valuation and significant $85.1M stock-based compensation expense warrant a wait-and-see approach regarding earnings quality.
PJT Growth Metrics
PJT Partners Inc. (PJT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years15.49%
5 Years10.24%
3 Years18.67%
TTM-
Profit CAGR
10 Years37.28%
5 Years8.91%
3 Years25.77%
TTM19.78%
EPS CAGR
10 Years32.19%
5 Years8.71%
3 Years23.92%
TTM20.99%
Return on Capital
10 Years17.18%
5 Years21.29%
3 Years19.3%
Last Year21.18%
PJT Recent Earnings
PJT Partners Inc. (PJT) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 12/12 qtrs (100%)●Beat Revenue 8/12 qtrs (67%)
Q2 2026Latest
Apr 28, 2026Metric
Actual
Est
EPS
$1.54+2.0%
$1.51
Rev
$418M+2.2%
$409M
Q1 2026
Feb 3, 2026Metric
Actual
Est
EPS
$2.55+5.8%
$2.41
Rev
$535M+0.1%
$535M
Q4 2025
Nov 4, 2025Metric
Actual
Est
EPS
$1.85+49.2%
$1.24
Rev
$447M-14.1%
$520M
Q3 2025
Jul 29, 2025Metric
Actual
Est
EPS
$1.54+13.2%
$1.36
Rev
$407M-0.7%
$410M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 28, 2026 | $1.54vs $1.51+2.0% | $418Mvs $409M+2.2% |
| Q1 2026 | Feb 3, 2026 | $2.55vs $2.41+5.8% | $535Mvs $535M+0.1% |
| Q4 2025 | Nov 4, 2025 | $1.85vs $1.24+49.2% | $447Mvs $520M-14.1% |
| Q3 2025 | Jul 29, 2025 | $1.54vs $1.36+13.2% | $407Mvs $410M-0.7% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for PJT Partners Inc. (PJT)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $168.56 | $4.07B | 25.23 | 14.77% | 10.51% | 18.85% | 0.51% | |
| $41.74 | $4.11B | 19.24 | 3.25% | 8.48% | 29.43% | — | |
| $346.87 | $13.42B | 24.69 | 29.49% | 16.3% | 35.52% | — | |
| $69.84 | $5.19B | 23.76 | 26.98% | 14.46% | 35.15% | — | |
| $16.31 | $1.65B | 29.65 | -14.48% | 2.85% | 16.26% | — | |
| $139.12 | $9.61B | 22.37 | 9.55% | 16.26% | 18.57% | — |
Compare PJT vs Peers
PJT Partners Inc. (PJT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
PJT SEC Filings & Documents
PJT Partners Inc. (PJT) SEC filings — annual & quarterly reports (10-K, 10-Q)
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PJT Frequently Asked Questions
PJT Partners Inc. (PJT) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is PJT Partners Inc.'s revenue?
PJT Partners Inc. (PJT) reported $1.81B in revenue for fiscal year 2025.
How fast is PJT Partners Inc. growing?
PJT Partners Inc. (PJT) grew revenue by 14.8% over the past year. This is steady growth.
Is PJT profitable?
Yes, PJT Partners Inc. (PJT) is profitable, generating $186.6M in net income for fiscal year 2025 (10.5% net margin).
Dividend & Returns
Does PJT pay dividends?
Yes, PJT Partners Inc. (PJT) pays a dividend with a yield of 0.51%. This makes it attractive for income-focused investors.
What is PJT's return on equity?
PJT Partners Inc. (PJT) has a return on equity (ROE) of 18.9%. This is reasonable for most industries.
What is PJT Partners Inc.'s free cash flow?
PJT Partners Inc. (PJT) generated $614.4M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.