Comprehensive Stock Comparison
Compare PJT Partners Inc. (PJT) vs JPMorgan Chase & Co. (JPM) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | PJT | 29.5% revenue growth vs JPM's 14.6% |
| Value | PJT | PEG 0.58 vs 1.07 |
| Quality / Margins | JPM | 21.6% net margin vs PJT's 9.0% |
| Stability / Safety | PJT | Beta 1.00 vs JPM's 1.00, lower leverage |
| Dividends | JPM | 1.7% yield, 14-year raise streak, vs PJT's 0.4% |
| Momentum (1Y) | JPM | +15.7% vs PJT's -6.6% |
| Efficiency (ROA) | PJT | 10.4% ROA vs JPM's 1.3%, ROIC 18.6% vs 5.4% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
PJT Partners is a boutique investment bank that provides strategic advisory services for mergers, restructurings, and capital markets transactions. It generates revenue primarily from advisory fees — roughly 60% from strategic advisory (M&A and activism defense) and 40% from restructuring and capital markets work — with performance-based success fees on large deals. The firm's moat lies in its elite reputation for handling complex, high-stakes situations and its senior banker-led approach that attracts premium clients.
JPMorgan Chase is a global financial services giant that operates as a universal bank offering consumer banking, investment banking, commercial banking, and asset management services. It generates revenue primarily through net interest income from lending activities (about 50% of total revenue) and non-interest income from investment banking fees, trading, asset management, and card services. The company's key competitive advantage lies in its massive scale, diversified revenue streams, and fortress balance sheet—which together create significant barriers to entry and provide stability through economic cycles.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
JPM leads in 3 of 6 categories (Financial Metrics, Total Returns). PJT leads in 1 (Profitability & Efficiency). 2 tied.
Financial Metrics (TTM)
JPM is the larger business by revenue, generating $270.8B annually — 181.4x PJT's $1.5B. JPM is the more profitable business, keeping 21.6% of every revenue dollar as net income compared to PJT's 9.0%.
| Metric | PJTPJT Partners Inc. | JPMJPMorgan Chase & … |
|---|---|---|
| RevenueTrailing 12 months | $1.5B | $270.8B |
| EBITDAEarnings before interest/tax | $410M | $81.3B |
| Net IncomeAfter-tax profit | $178M | $58.0B |
| Free Cash FlowCash after capex | $537M | -$119.7B |
| Gross MarginGross profit ÷ Revenue | +30.9% | +58.6% |
| Operating MarginEBIT ÷ Revenue | +20.3% | +27.7% |
| Net MarginNet income ÷ Revenue | +9.0% | +21.6% |
| FCF MarginFCF ÷ Revenue | +35.3% | -15.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | +86.1% | +16.0% |
Valuation Metrics
At 15.2x trailing earnings, JPM trades at a 49% valuation discount to PJT's 30.0x P/E. Adjusting for growth (PEG ratio), PJT offers better value at 0.93x vs JPM's 1.17x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | PJTPJT Partners Inc. | JPMJPMorgan Chase & … |
|---|---|---|
| Market CapShares × price | $19,198 | $809.7B |
| Enterprise ValueMkt cap + debt − cash | -$129M | $1.09T |
| Trailing P/EPrice ÷ TTM EPS | 30.02x | 15.21x |
| Forward P/EPrice ÷ next-FY EPS est. | 18.93x | 13.93x |
| PEG RatioP/E ÷ EPS growth rate | 0.93x | 1.17x |
| EV / EBITDAEnterprise value multiple | -0.39x | 13.15x |
| Price / SalesMarket cap ÷ Revenue | 0.00x | 2.99x |
| Price / BookPrice ÷ Book value/share | 7.22x | 2.51x |
| Price / FCFMarket cap ÷ FCF | 0.00x | — |
Profitability & Efficiency
PJT delivers a 19.1% return on equity — every $100 of shareholder capital generates $19 in annual profit, vs $16 for JPM. PJT carries lower financial leverage with a 0.39x debt-to-equity ratio, signaling a more conservative balance sheet compared to JPM's 2.18x. On the Piotroski fundamental quality scale (0–9), PJT scores 8/9 vs JPM's 5/9, reflecting strong financial health.
| Metric | PJTPJT Partners Inc. | JPMJPMorgan Chase & … |
|---|---|---|
| ROE (TTM)Return on equity | +19.1% | +16.1% |
| ROA (TTM)Return on assets | +10.4% | +1.3% |
| ROICReturn on invested capital | +18.6% | +5.4% |
| ROCEReturn on capital employed | +20.7% | +8.2% |
| Piotroski ScoreFundamental quality 0–9 | 8 | 5 |
| Debt / EquityFinancial leverage | 0.39x | 2.18x |
| Net DebtTotal debt minus cash | -$129M | $281.8B |
| Cash & Equiv.Liquid assets | $484M | $469.3B |
| Total DebtShort + long-term debt | $355M | $751.1B |
| Interest CoverageEBIT ÷ Interest expense | — | 0.74x |
Total Returns (with DRIP)
A $10,000 investment in PJT five years ago would be worth $21,454 today (with dividends reinvested), compared to $21,449 for JPM. Over the past 12 months, JPM leads with a +15.7% total return vs PJT's -6.6%. The 3-year compound annual growth rate (CAGR) favors JPM at 30.0% vs PJT's 24.1% — a key indicator of consistent wealth creation.
| Metric | PJTPJT Partners Inc. | JPMJPMorgan Chase & … |
|---|---|---|
| YTD ReturnYear-to-date | -12.9% | -7.3% |
| 1-Year ReturnPast 12 months | -6.6% | +15.7% |
| 3-Year ReturnCumulative with dividends | +91.0% | +119.7% |
| 5-Year ReturnCumulative with dividends | +114.5% | +114.5% |
| 10-Year ReturnCumulative with dividends | +460.3% | +497.7% |
| CAGR (3Y)Annualised 3-year return | +24.1% | +30.0% |
Risk & Volatility
PJT is the less volatile stock with a 1.00 beta — it tends to amplify market swings less than JPM's 1.00 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. JPM currently trades 89.0% from its 52-week high vs PJT's 75.5% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | PJTPJT Partners Inc. | JPMJPMorgan Chase & … |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.00x | 1.00x |
| 52-Week HighHighest price in past year | $195.62 | $337.25 |
| 52-Week LowLowest price in past year | $119.76 | $202.16 |
| % of 52W HighCurrent price vs 52-week peak | +75.5% | +89.0% |
| RSI (14)Momentum oscillator 0–100 | 35.3 | 48.1 |
| Avg Volume (50D)Average daily shares traded | 244K | 9.0M |
Analyst Outlook
Wall Street rates PJT as "Hold" and JPM as "Buy". Consensus price targets imply 15.8% upside for PJT (target: $171) vs 11.9% for JPM (target: $336). For income investors, JPM offers the higher dividend yield at 1.71% vs PJT's 0.37%.
| Metric | PJTPJT Partners Inc. | JPMJPMorgan Chase & … |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $171.00 | $336.10 |
| # AnalystsCovering analysts | 12 | 60 |
| Dividend YieldAnnual dividend ÷ price | +0.4% | +1.7% |
| Dividend StreakConsecutive years of raises | 0 | 14 |
| Dividend / ShareAnnual DPS | $0.55 | $5.13 |
| Buyback YieldShare repurchases ÷ mkt cap | +100.0% | +3.5% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| PJT Partners Inc. (PJT) | 100 | 375.97 | +276.0% |
| JPMorgan Chase & Co. (JPM) | 100 | 253.57 | +153.6% |
PJT Partners Inc. (PJT) returned +115% over 5 years vs JPMorgan Chase & Co. (JPM)'s +114%. A $10,000 investment in PJT 5 years ago would be worth $21,454 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| PJT Partners Inc. (PJT) | $406M | $1.5B | +267.8% |
| JPMorgan Chase & Co. (JPM) | $101.0B | $270.8B | +168.1% |
PJT Partners Inc.'s revenue grew from $406M (2015) to $1.5B (2024) — a 15.6% CAGR. JPMorgan Chase & Co.'s revenue grew from $101.0B (2015) to $270.8B (2024) — a 11.6% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| PJT Partners Inc. (PJT) | 1.9% | 9.0% | +382.3% |
| JPMorgan Chase & Co. (JPM) | 24.2% | 21.6% | -10.8% |
PJT Partners Inc.'s net margin went from 2% (2015) to 9% (2024). JPMorgan Chase & Co.'s net margin went from 24% (2015) to 22% (2024).
Chart 4P/E Ratio History — 8 Years
| Stock | 2017 | 2024 | Change |
|---|---|---|---|
| PJT Partners Inc. (PJT) | 33.4 | 32.1 | -3.9% |
| JPMorgan Chase & Co. (JPM) | 16.9 | 12.1 | -28.4% |
PJT Partners Inc. has traded in a 17x–37x P/E range over 7 years; current trailing P/E is ~30x. JPMorgan Chase & Co. has traded in a 10x–17x P/E range over 8 years; current trailing P/E is ~15x.
Chart 5EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| PJT Partners Inc. (PJT) | 0.41 | 4.92 | +1100.0% |
| JPMorgan Chase & Co. (JPM) | 6 | 19.75 | +229.2% |
PJT Partners Inc.'s EPS grew from $0.41 (2015) to $4.92 (2024) — a 32% CAGR. JPMorgan Chase & Co.'s EPS grew from $6.00 (2015) to $19.75 (2024) — a 14% CAGR.
Chart 6Free Cash Flow — 5 Years
PJT Partners Inc. generated $528M FCF in 2024 (+348% vs 2021). JPMorgan Chase & Co. generated $-42B FCF in 2024 (-154% vs 2021).
PJT vs JPM: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is PJT or JPM a better buy right now?
JPMorgan Chase & Co. (JPM) offers the better valuation at 15.2x trailing P/E (13.9x forward), making it the more compelling value choice. Analysts rate JPMorgan Chase & Co. (JPM) a "Buy" — based on 60 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — PJT or JPM?
On trailing P/E, JPMorgan Chase & Co. (JPM) is the cheapest at 15.2x versus PJT Partners Inc. at 30.0x. On forward P/E, JPMorgan Chase & Co. is actually cheaper at 13.9x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: PJT Partners Inc. wins at 0.58x versus JPMorgan Chase & Co.'s 1.07x — a PEG below 1.0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — PJT or JPM?
Over the past 5 years, PJT Partners Inc. (PJT) delivered a total return of +114.5%, compared to +114.5% for JPMorgan Chase & Co. (JPM). A $10,000 investment in PJT five years ago would be worth approximately $21K today (assuming dividends reinvested). Over 10 years, the gap is even starker: JPM returned +497.7% versus PJT's +460.3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — PJT or JPM?
By beta (market sensitivity over 5 years), PJT Partners Inc. (PJT) is the lower-risk stock at 1.00β versus JPMorgan Chase & Co.'s 1.00β — meaning JPM is approximately 1% more volatile than PJT relative to the S&P 500. On balance sheet safety, PJT Partners Inc. (PJT) carries a lower debt/equity ratio of 39% versus 2% for JPMorgan Chase & Co. — giving it more financial flexibility in a downturn.
05Which has better profit margins — PJT or JPM?
JPMorgan Chase & Co. (JPM) is the more profitable company, earning 21.6% net margin versus 9.0% for PJT Partners Inc. — meaning it keeps 21.6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: JPM leads at 27.7% versus 20.3% for PJT. At the gross margin level — before operating expenses — JPM leads at 58.6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is PJT or JPM more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, PJT Partners Inc. (PJT) is the more undervalued stock at a PEG of 0.58x versus JPMorgan Chase & Co.'s 1.07x. A PEG below 1.0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, JPMorgan Chase & Co. (JPM) trades at 13.9x forward P/E versus 18.9x for PJT Partners Inc. — 5.0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for PJT: 15.8% to $171.00.
07Which pays a better dividend — PJT or JPM?
All stocks in this comparison pay dividends. JPMorgan Chase & Co. (JPM) offers the highest yield at 1.7%, versus 0.4% for PJT Partners Inc. (PJT).
08Is PJT or JPM better for a retirement portfolio?
For long-horizon retirement investors, JPMorgan Chase & Co. (JPM) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1.00), 1.7% yield, +497.7% 10Y return). Both have compounded well over 10 years (JPM: +497.7%, PJT: +460.3%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between PJT and JPM?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: PJT is a small-cap quality compounder stock; JPM is a large-cap deep-value stock. JPM pays a dividend while PJT does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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