PJT Partners Inc. (PJT) 10-Year Financial Performance & Capital Metrics

PJT • • Banking & Credit

Financial ServicesCapital MarketsInvestment Banking & AdvisoryBoutique Advisory Firms

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

Net Interest Income $0
Total Revenue $1.49B +29.5%
Net Income $134M +64.3%
Return on Equity 15.25% +51.1%
Net Interest Margin 0%
Efficiency Ratio 10.59% -12.4%
ROA 8.75% +33.0%
Equity / Assets 55.14% -8.1%
Book Value per Share 20.44 -36.5%
Tangible BV/Share 15.80 -37.4%
Debt/Equity 0.39 +2.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 35.4%
✓Strong Piotroski F-Score: 8/9
✓Efficient operations: 10.6% efficiency ratio
✓Well capitalized: 55.1% equity/assets
✓Diversified revenue: 100.0% from non-interest income
✓Trading near 52-week high

✗Weaknesses

✗Shares diluted 64.8% in last year

Price & Volume

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Growth Metrics

Revenue CAGR

10Y14.05%

5Y15.78%

3Y14.61%

TTM-

Profit (Net Income) CAGR

10Y40.47%

5Y35.37%

3Y8.18%

TTM64.87%

EPS CAGR

10Y34.71%

5Y32.38%

3Y7.23%

TTM9.8%

ROCE

10Y Avg15.28%

5Y Avg22.87%

3Y Avg20.97%

Latest20.74%

Peer Comparison

Boutique Advisory Firms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MCMoelis & Company	5.75B	77.75	43.68	39.75%	11.39%	37.92%	7.22%	0.47
EVREvercore Inc.	14.82B	383.12	42.19	22.67%	12.62%	25.34%	6.47%	0.48
PJTPJT Partners Inc.	4.54B	186.67	37.94	29.48%	9%	19.14%	11.63%	0.39
PIPRPiper Sandler Companies	6.23B	374.50	36.57	13.08%	12.23%	16.16%	4.78%	0.07
HLIHoulihan Lokey, Inc.	10.35B	189.78	32.61	24.81%	16.73%	18.98%	7.82%	0.20
LAZLazard Ltd	5.1B	53.75	20.06	20.98%	9.07%	28.55%	13.67%	2.87
MDBHMDB Capital Holdings, LLC Class A common	18.63M	3.63	1.37	-47.54%	5.27%	19.16%		0.01
WAITop KingWin Ltd	3.63M	2.18	-0.22	-31.16%	-231.43%	-40.27%		0.07

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	0	0	0	0	0	0	0	0	0	0
NII Growth %	-	-	-	-	-	-	-	-	-	-
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	0	0	0	0	0	0	0	0	0	0
Loan Loss Provision	315.19M	381M	391.51M	424.46M	502.17M	683.39M	640.04M	669.14M	805.38M	1.03B
Non-Interest Income+	405.94M	499.43M	499.28M	580.25M	717.64M	1.05B	991.95M	1.03B	1.15B	1.49B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	405.94M	499.43M	499.28M	580.25M	717.64M	1.05B	991.95M	1.03B	1.15B	1.49B
Revenue Growth %	0.01%	0.23%	-0%	0.16%	0.24%	0.47%	-0.06%	0.03%	0.12%	0.29%
Non-Interest Expense	89.07M	79.12M	78.69M	93.64M	106.9M	94.36M	106.52M	125.23M	139.4M	158.17M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	1.67M	39.31M	29.07M	62.15M	108.57M	274.54M	245.39M	231.13M	208.4M	302.94M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.91%	22.52%	-0.26%	1.14%	0.75%	1.53%	-0.11%	-0.06%	-0.1%	0.45%
Pretax Income+	-5.94M	14.5M	10.05M	41.51M	82.19M	247.96M	219.45M	201.47M	177.61M	270.57M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	239K	9.39M	38.38M	-1.04M	18.4M	35.53M	29.49M	36.7M	31.93M	32.1M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	7.58M	-3.03M	-32.55M	27.17M	29.56M	117.55M	106.17M	90.53M	81.8M	134.39M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.69%	-1.4%	-9.73%	1.83%	0.09%	2.98%	-0.1%	-0.15%	-0.1%	0.64%
Net Income (Continuing)	-6.17M	5.11M	-28.33M	42.56M	63.79M	212.43M	189.96M	164.77M	145.68M	238.47M
EPS (Diluted)+	0.41	-0.17	-1.73	1.16	1.21	4.40	3.99	3.51	4.89	4.92
EPS Growth %	0.64%	-1.41%	-9.18%	1.67%	0.04%	2.64%	-0.09%	-0.12%	0.39%	0.01%
EPS (Basic)	0.41	-0.17	-1.73	1.29	1.27	7.75	6.77	3.61	5.18	5.28
Diluted Shares Outstanding	18.26M	18.29M	18.86M	24.25M	25.01M	43.13M	42.36M	26.62M	26.77M	44.11M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	82.32M	152.43M	145.62M	106.11M	215.95M	299.51M	200.48M	173.24M	355.54M	483.88M
Short Term Investments	0	0	0	0	0	0	0	0	0	0
Total Investments+	0	0	37.12M	2.16M	1.54M	137.89M	0	50.24M	81.38M	62.91M
Investments Growth %	-	-	-	-0.94%	-0.28%	88.36%	-1%	-	0.62%	-0.23%
Long-Term Investments	0	0	37.12M	2.16M	1.54M	137.89M	0	50.24M	81.38M	62.91M
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	75.77M	72.29M	72.29M	176.03M	172.72M	172.72M	172.72M	172.72M	172.72M	191.61M
Intangible Assets	23.65M	14.71M	12.29M	49.16M	39.81M	32.03M	24.39M	17.88M	12.96M	13.03M
PP&E (Net)	31.49M	38.16M	33.79M	34.8M	203.64M	189.63M	175.06M	149.72M	325.1M	335.04M
Other Assets	77.52M	87.47M	101.16M	26.93M	43.36M	53.33M	61.92M	99.93M	151.28M	142.89M
Total Current Assets	190.14M	306.89M	258.31M	323.88M	443.47M	532.68M	489.75M	490.99M	619.07M	804.66M
Total Non-Current Assets	277.11M	283.58M	300.66M	347.94M	509.31M	638.93M	497.88M	559.67M	815.91M	830.67M
Total Assets+	467.25M	590.48M	558.97M	671.82M	952.78M	1.17B	987.63M	1.05B	1.43B	1.64B
Asset Growth %	0.34%	0.26%	-0.05%	0.2%	0.42%	0.23%	-0.16%	0.06%	0.37%	0.14%
Return on Assets (ROA)	0.02%	-0.01%	-0.06%	0.04%	0.04%	0.11%	0.1%	0.09%	0.07%	0.09%
Accounts Payable	29.53M	17.35M	16.87M	24.66M	24.77M	25.94M	23.75M	24.78M	22.3M	33.62M
Total Debt+	0	0	0	30M	204.42M	172.29M	157.01M	135.63M	330.6M	354.52M
Net Debt	-82.32M	-152.43M	-145.62M	-76.11M	-11.53M	-127.22M	-43.47M	-37.61M	-24.94M	-129.36M
Long-Term Debt	0	0	0	30M	21.5M	0	0	0	0	0
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Other Liabilities	403.01M	577.62M	113.6M	98.2M	106.56M	253.46M	121.72M	83.92M	174.4M	299.25M
Total Current Liabilities	31.68M	20.63M	22.52M	48.01M	53.09M	58.01M	71.32M	71.55M	68.81M	79.92M
Total Non-Current Liabilities	403.49M	578.4M	113.99M	136.06M	325.17M	425.75M	278.73M	219.55M	505M	653.77M
Total Liabilities	435.17M	599.04M	136.51M	184.07M	378.26M	483.76M	350.05M	291.09M	573.81M	733.69M
Total Equity+	32.08M	-8.56M	422.45M	487.75M	574.52M	687.85M	637.57M	759.56M	861.16M	901.64M
Equity Growth %	-0.9%	-1.27%	50.35%	0.15%	0.18%	0.2%	-0.07%	0.19%	0.13%	0.05%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.04%	-0.26%	-0.16%	0.06%	0.06%	0.19%	0.16%	0.13%	0.1%	0.15%
Book Value per Share	1.76	-0.47	22.40	20.11	22.97	15.95	15.05	28.54	32.17	20.44
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	180K	180K	186K	240K	251K	267K	292K	310K	324K	340K
Additional Paid-in Capital	43.13M	9.14M	30.67M	210.94M	290.9M	349.36M	391.24M	502.58M	619.7M	688.7M
Retained Earnings	-11.18M	-17.95M	-185.99M	-169.84M	-144.92M	-33.13M	-4.93M	60.97M	118.33M	228.59M
Accumulated OCI	-48K	61K	155K	-627K	146K	1.41M	631K	-2.27M	-467K	-1.66M
Treasury Stock	0	0	-2.3M	-67.17M	-114.98M	-163.66M	-267M	-376.48M	-493.22M	-728.96M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	112.18M	116.85M	111.22M	122.94M	211.26M	469.44M	124.16M	242.73M	441.53M	530.95M
Operating CF Growth %	1.24%	0.04%	-0.05%	0.11%	0.72%	1.22%	-0.74%	0.95%	0.82%	0.2%
Net Income	-6.17M	5.11M	-28.33M	42.56M	63.79M	212.43M	189.96M	164.77M	145.68M	238.47M
Depreciation & Amortization	14.76M	14.03M	8.14M	9.97M	32.81M	36.36M	34.92M	36.21M	36.66M	28.67M
Deferred Taxes	0	2.29M	30.96M	-7.83M	11.51M	6.91M	7.1M	1.78M	-1.93M	-8.52M
Other Non-Cash Items	-1.43M	4.84M	-2.32M	708K	3.42M	-3.02M	-1.8M	5.61M	3.95M	1.82M
Working Capital Changes	66.41M	1.57M	-13.17M	-40.46M	-11.83M	95.85M	-214.92M	-131.17M	78.63M	61.33M
Cash from Investing+	-24.19M	-12.55M	-38.24M	-31.49M	-1.72M	-145.75M	131.35M	-53.23M	-34.35M	8.06M
Purchase of Investments	0	0	-57.16M	-22M	-11.25M	-278.06M	-97.64M	-143.93M	-328.77M	-369.99M
Sale/Maturity of Investments	0	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	12.65M	0	0	-61.46M	0	0	0	0	0	-10.73M
Other Investing	-2.26M	538K	0	0	7.49M	0	0	0	0	0
Cash from Financing+	-44.21M	-32.52M	-79.64M	-130.68M	-101.15M	-244.28M	-353.38M	-210.02M	-228.08M	-408.68M
Dividends Paid	-88.89M	-3.73M	-3.8M	-4.32M	-4.64M	-4.82M	-77.97M	-24.63M	-24.44M	-24.13M
Share Repurchases	0	-266K	-2.3M	-64.87M	-47.81M	-48.67M	-103.34M	-109.48M	-116.74M	-235.1M
Stock Issued	49.37M	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-21K	-88K	-97K	1000K	-1000K	-1000K	0	0	0	0
Other Financing	-4.66M	-28.43M	-73.44M	-91.39M	-40.19M	-169.28M	-172.07M	-75.91M	-86.9M	-149.45M
Net Change in Cash+	43.79M	69.28M	-6.81M	-39.51M	109.84M	83.56M	-99.03M	-27.25M	182.31M	128.33M
Exchange Rate Effect	0	-1000K	-151K	-276K	1000K	1000K	-1000K	-1000K	1000K	-1000K
Cash at Beginning	38.53M	83.15M	152.43M	145.62M	106.11M	215.95M	299.51M	200.48M	173.24M	355.54M
Cash at End	82.32M	152.43M	145.62M	106.11M	215.95M	299.51M	200.48M	173.24M	355.54M	483.88M
Interest Paid	0	0	0	368K	1.39M	116K	10K	133K	20K	0
Income Taxes Paid	3.52M	6.81M	15.11M	501K	3.84M	36.16M	30.93M	28.58M	23.29M	36.08M
Free Cash Flow+	76.26M	103.76M	110.15M	115.73M	202.45M	460.59M	117.69M	239.3M	437.61M	527.65M
FCF Growth %	0.53%	0.36%	0.06%	0.05%	0.75%	1.28%	-0.74%	1.03%	0.83%	0.21%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	4.16%	-25.8%	-15.73%	5.97%	5.57%	18.62%	16.02%	12.96%	10.09%	15.25%
Return on Assets (ROA)	1.86%	-0.57%	-5.66%	4.42%	3.64%	11.07%	9.83%	8.88%	6.58%	8.75%
Net Interest Margin	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Efficiency Ratio	21.94%	15.84%	15.76%	16.14%	14.9%	8.97%	10.74%	12.21%	12.09%	10.59%
Equity / Assets	6.87%	-1.45%	75.58%	72.6%	60.3%	58.71%	64.56%	72.29%	60.01%	55.14%
Book Value / Share	1.76	-0.47	22.4	20.11	22.97	15.95	15.05	28.54	32.17	20.44
Dividend Payout	1173.38%	-	-	15.9%	15.71%	4.1%	73.44%	27.21%	29.87%	17.96%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2024
Advisory Fees	-	-	-	-	571.77M	872.29M	762.72M	823.5M	1.31B
Advisory Fees Growth	-	-	-	-	-	52.56%	-12.56%	7.97%	59.56%
Placement Fees	-	-	-	111.03M	133.18M	162.24M	216.69M	192.89M	146.26M
Placement Fees Growth	-	-	-	-	19.94%	21.82%	33.57%	-10.98%	-24.18%
Interest Income and Other	-	-	-	-	-	-	-	-	32.92M
Interest Income and Other Growth	-	-	-	-	-	-	-	-	-
Interest Income From Placement Fees And Other	-	-	-	-	11.8M	10.48M	7M	10.17M	-
Interest Income From Placement Fees And Other Growth	-	-	-	-	-	-11.14%	-33.23%	45.31%	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2024
UNITED STATES	-	465.05M	431.62M	468.75M	652.11M	933.58M	873.56M	923.33M	1.26B
UNITED STATES Growth	-	-	-7.19%	8.60%	39.12%	43.16%	-6.43%	5.70%	36.57%
Non-US	-	-	-	-	-	-	-	-	215.07M
Non-US Growth	-	-	-	-	-	-	-	-	-
Non Us	24.55M	34.38M	67.67M	111.49M	65.53M	118.72M	118.38M	102.17M	-
Non Us Growth	-	40.06%	96.79%	64.77%	-41.22%	81.17%	-0.28%	-13.69%	-
U S	381.39M	-	-	-	-	-	-	-	-
U S Growth	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

PJT Partners Inc. (PJT) has a price-to-earnings (P/E) ratio of 37.9x. This suggests investors expect higher future growth.

Growth & Financials

PJT Partners Inc. (PJT) grew revenue by 29.5% over the past year. This is strong growth.

Yes, PJT Partners Inc. (PJT) is profitable, generating $178.1M in net income for fiscal year 2024 (9.0% net margin).

Dividend & Returns

Yes, PJT Partners Inc. (PJT) pays a dividend with a yield of 0.29%. This makes it attractive for income-focused investors.

PJT Partners Inc. (PJT) has a return on equity (ROE) of 15.2%. This is reasonable for most industries.

Industry Metrics

PJT Partners Inc. (PJT) has a net interest margin (NIM) of N/A. NIM has been under pressure due to interest rate environment.

PJT Partners Inc. (PJT) has an efficiency ratio of 10.6%. This is excellent, indicating strong cost control.

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