(PJT) PJT Partners - Overview
Sector: Financial Services | Industry: Capital Markets | Exchange: NYSE (USA) | Market Cap: 6.386m USD | Total Return: 6.6% in 12m
Avg Turnover: 57.6M
EPS Trend: 96.4%
Qual. Beats: 1
Rev. Trend: 99.2%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
PJT Partners Inc. is a global investment bank specializing in strategic advisory, capital markets, and restructuring services. Spun off from Blackstone in 2015, the firm operates as a boutique advisory model, which typically prioritizes fee-based income over balance sheet-intensive lending. Its core business units advise corporations, governments, and financial sponsors on mergers and acquisitions, shareholder engagement, and complex liability management.
The firm maintains a significant presence in the restructuring and special situations sector, a counter-cyclical business line that often sees increased demand during periods of high interest rates or economic volatility. Beyond traditional M&A, PJT provides geopolitical risk assessment and private fund advisory services, assisting general partners with capital raising and liquidity solutions. For a more granular look at these revenue drivers, ValueRay provides additional data on the firms market positioning.
Headquartered in New York, PJT Partners operates within the Investment Banking & Brokerage sub-industry. Unlike full-service bulge bracket banks, boutique firms like PJT focus on high-margin advisory roles, often resulting in lower capital requirements and a reliance on senior-level human capital to drive transaction volume.
- Restructuring revenue surges during high interest rate environments and corporate distress cycles
- Strategic Advisory fees fluctuate based on global M&A volume and deal activity
- Secondary market growth drives placement fee revenue for Park Hill business unit
- Intense competition for talent increases compensation expenses and impacts operating margins
- Geopolitical instability and regulatory shifts influence demand for specialized policy advisory services
| Net Income: 186.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.39 > 0.02 and ΔFCF/TA 4.28 > 1.0 |
| NWC/Revenue: 31.92% < 20% (prev 29.79%; Δ 2.13% < -1%) |
| CFO/TA 0.43 > 3% & CFO 666.5m > Net Income 186.6m |
| Net Debt (112.7m) to EBITDA (412.3m): 0.27 < 3 |
| Current Ratio: 8.14 > 1.5 & < 3 |
| Outstanding Shares: last quarter (43.3m) vs 12m ago -2.65% < -2% |
| Gross Margin: 47.95% > 18% (prev 0.31%; Δ 4.76k% > 0.5%) |
| Asset Turnover: 122.1% > 50% (prev 106.6%; Δ 15.54% > 0%) |
| Interest Coverage Ratio: 27.59 > 6 (EBITDA TTM 412.3m / Interest Expense TTM 13.9m) |
| A: 0.37 (Total Current Assets 657.7m - Total Current Liabilities 80.8m) / Total Assets 1.56b |
| B: 0.28 (Retained Earnings 438.2m / Total Assets 1.56b) |
| C: 0.26 (EBIT TTM 384.7m / Avg Total Assets 1.48b) |
| D: 0.69 (Book Value of Equity 440.4m / Total Liabilities 634.1m) |
| Altman-Z'' = 5.81 = AAA |
| DSRI: 0.85 (Receivables 348.9m/338.6m, Revenue 1.81b/1.49b) |
| GMI: 0.65 (GM 47.95% / 31.18%) |
| AQI: 0.89 (AQ_t 0.32 / AQ_t-1 0.35) |
| SGI: 1.21 (Revenue 1.81b / 1.49b) |
| TATA: -0.31 (NI 186.6m - CFO 666.5m) / TA 1.56b) |
| Beneish M = -3.69 (Cap -4..+1) = AAA |
As of May 24, 2026, the stock is trading at USD 155.81 with a total of 369,764 shares traded.
Over the past week, the price has changed by +0.02%,
over one month by +0.06%,
over three months by +6.39% and
over the past year by +6.57%.
PJT Partners has received a consensus analysts rating of 2.67. Therefore, it is recommended to hold PJT.
- StrongBuy: 0
- Buy: 0
- Hold: 5
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 168.8 | 8.3% |
P/E Forward = 20.5761
P/S = 3.5356
P/B = 14.6428
P/EG = 1.36
Revenue TTM = 1.81b USD
EBIT TTM = 384.7m USD
EBITDA TTM = 412.3m USD
Long Term Debt = unknown (none)
Short Term Debt = 35.8m USD (from shortTermDebt, last fiscal year)
Debt = 421.5m USD (from shortLongTermDebtTotal, last quarter) (leases 421.5m already included)
Net Debt = 112.7m USD (calculated: Debt 421.5m - CCE 308.8m)
Enterprise Value = 6.50b USD (6.39b + Debt 421.5m - CCE 308.8m)
Interest Coverage Ratio = 27.59 (Ebit TTM 384.7m / Interest Expense TTM 13.9m)
EV/FCF = 10.58x (Enterprise Value 6.50b / FCF TTM 614.4m)
FCF Yield = 9.45% (FCF TTM 614.4m / Enterprise Value 6.50b)
FCF Margin = 33.99% (FCF TTM 614.4m / Revenue TTM 1.81b)
Net Margin = 10.32% (Net Income TTM 186.6m / Revenue TTM 1.81b)
Gross Margin = 47.95% ((Revenue TTM 1.81b - Cost of Revenue TTM 940.8m) / Revenue TTM)
Gross Margin QoQ = none% (prev 33.36%)
Tobins Q-Ratio = 4.16 (Enterprise Value 6.50b / Total Assets 1.56b)
Interest Expense / Debt = 3.31% (Interest Expense 13.9m / Debt 421.5m)
Taxrate = 9.68% (33.2m / 342.9m)
NOPAT = 347.4m (EBIT 384.7m * (1 - 9.68%))
Current Ratio = 8.14 (Total Current Assets 657.7m / Total Current Liabilities 80.8m)
Debt / Equity = 1.55 (Debt 421.5m / totalStockholderEquity, last quarter 272.7m)
Debt / EBITDA = 0.27 (Net Debt 112.7m / EBITDA 412.3m)
Debt / FCF = 0.18 (Net Debt 112.7m / FCF TTM 614.4m)
Total Stockholder Equity = 244.3m (last 4 quarters mean from totalStockholderEquity)
RoA = 12.61% (Net Income 186.6m / Total Assets 1.56b)
RoE = 76.40% (Net Income TTM 186.6m / Total Stockholder Equity 244.3m)
RoCE = 25.94% (EBIT 384.7m / Capital Employed (Total Assets 1.56b - Current Liab 80.8m))
RoIC = 22.88% (NOPAT 347.4m / Invested Capital 1.52b)
WACC = 10.47% (E(6.39b)/V(6.81b) * Re(10.96%) + D(421.5m)/V(6.81b) * Rd(3.31%) * (1-Tc(0.10)))
Discount Rate = 10.96% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 13.48 | Cagr: 26.81%
[DCF] Terminal Value 71.44% ; FCFF base≈564.2m ; Y1≈646.7m ; Y5≈951.8m
[DCF] Fair Price = 399.2 (EV 10.4b - Net Debt 112.7m = Equity 10.3b / Shares 25.8m; r=10.47% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 96.38 | EPS CAGR: 38.16% | SUE: 4.0 | # QB: 1
Revenue Correlation: 99.18 | Revenue CAGR: 20.68% | SUE: 0.05 | # QB: 0
EPS current Quarter (2026-06-30): EPS=1.64 | Chg30d=-2.48% | Revisions=-33% | Analysts=7
EPS next Quarter (2026-09-30): EPS=1.81 | Chg30d=-7.03% | Revisions=-56% | Analysts=6
EPS current Year (2026-12-31): EPS=7.53 | Chg30d=-2.49% | Revisions=-27% | GrowthEPS=+7.9% | GrowthRev=+9.3%
EPS next Year (2027-12-31): EPS=8.55 | Chg30d=-0.79% | Revisions=-27% | GrowthEPS=+13.6% | GrowthRev=+10.4%
[Analyst] Revisions Ratio: -56%