Financial Services · Investment - Banking & Investment Services
Price
$151.63
Market Cap
$3.9B
Employees
1,224
Beta
0.84
Avg Volume
379,164
CEO
Paul J. Taubman
Business Description
PJT Partners Inc., an investment bank, provides various strategic advisory, shareholder advisory, capital markets advisory, and restructuring and special situations 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 provides advisory services for private and public company boards and management teams on strategies for building productive investor relationships with a focus on shareholder engagement; complex investor matters; and other critical strategic, governance, and shareholder matters. In addition, it offers advisory services related to debt and equity markets, including debt financings, acquisition financings, structured product offerings, public equity raises initial public offerings, private capital raises, general partner advisory, and other capital structure related matters. Further, the company provides geopolitical and policy advisory practice that assists corporate boards and management teams with navigating changing geopolitical relationships. Additionally, it offers advisory services in the areas of liability management, and restructurings and special situations comprising bespoke financing, tort liability resolutions, distressed M&A, and chapter 11 matters, as well as to corporate clients, financial sponsors, and creditors. The company also provides private fund advisory and fundraising services for a range of investment strategies; and advisory services to general and limited partners on liquidity and other structured solutions. 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.
Business History
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
21.31
Stock Price: $151.63
EPS (Diluted): 7.00
EPS (Diluted): 7.00
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
13.95
Stock Price: $151.63
Total Equity: $308.25M
Shares: 28,610,263
Total Equity: $308.25M
Shares: 28,610,263
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
9.77
Market Cap: $3.92B
Total Debt: $35.78M
Cash: $538.86M
EBITDA: $394.11M
Total Debt: $35.78M
Cash: $538.86M
EBITDA: $394.11M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$4.2B
Market Cap: $3.92B
Total Debt: $35.78M
Cash: $538.86M
Total Debt: $35.78M
Cash: $538.86M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
32.4%
Gross Profit: $555.72M
Revenue: $1.71B
Revenue: $1.71B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
21.2%
Operating Income: $362.86M
Revenue: $1.71B
Revenue: $1.71B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
10.5%
Net Income: $180.12M
Revenue: $1.71B
Revenue: $1.71B
ROE (Profit from shareholder equity)
APINet Income / Total Equity
76.4%
Net Income: $180.12M
Total Equity: $308.25M
Total Equity: $308.25M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
22.7%
Operating Income: $362.86M
Tax Rate: 9.7%
Equity: $308.25M
Total Debt: $35.78M
Cash: $538.86M
Tax Rate: 9.7%
Equity: $308.25M
Total Debt: $35.78M
Cash: $538.86M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
27.67
Current Assets: $990.12M
Current Liabilities: $35.78M
Current Liabilities: $35.78M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.12
Short-Term Debt: $35.78M
Long-Term Debt: $0.00
Total Debt: $35.78M
Total Equity: $308.25M
Long-Term Debt: $0.00
Total Debt: $35.78M
Total Equity: $308.25M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$59.90
Revenue: $1.71B
Shares: 28,610,263
Shares: 28,610,263
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$10.77
Total Equity: $308.25M
Shares: 28,610,263
Shares: 28,610,263
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$16.79
Operating CF: $526.30M
CapEx: -$45.86M
Shares: 28,610,263
CapEx: -$45.86M
Shares: 28,610,263
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.6%
Last Dividend: N/A
Stock Price: $151.63
Stock Price: $151.63
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $180.12M
Net Income: $180.12M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares PJT against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 6:56pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $991.9M | $1.0B | $1.2B | $1.5B | $1.7B |
| Cost of Revenue | $640.0M | $669.1M | $805.4M | $1.0B | $1.2B |
| Gross Profit | $351.9M | $356.4M | $347.8M | $461.1M | $555.7M |
| Operating Expenses | $106.5M | $125.2M | $150.0M | $171.3M | $192.9M |
| Operating Income | $245.4M | $231.1M | $197.8M | $289.9M | $362.9M |
| Net Income | $106.2M | $90.5M | $81.8M | $134.4M | $180.1M |
| EBITDA | $280.3M | $267.3M | $234.5M | $318.5M | $394.1M |
| EPS | $6.77 | $3.61 | $5.18 | $5.28 | $7.00 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 6:56pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $200.5M | $173.2M | $355.5M | $483.9M | $538.9M |
| Total Current Assets | $489.7M | $491.0M | $619.1M | $804.7M | $990.1M |
| Total Assets | $987.6M | $1.1B | $1.4B | $1.6B | $1.9B |
| Current Liabilities | $71.3M | $71.5M | $68.8M | $79.9M | $35.8M |
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $350.1M | $291.1M | $573.8M | $733.7M | $898.0M |
| Total Equity | $120.2M | $185.1M | $244.7M | $187.0M | $308.2M |
| Retained Earnings | -$4.9M | $61.0M | $118.3M | $228.6M | $384.2M |
Cash Flow (Annual)
Last updated: Jun 21, 2026 6:56pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $124.2M | $242.7M | $441.5M | $531.0M | $526.3M |
| Capital Expenditure | -$6.5M | -$3.4M | -$3.9M | -$3.3M | -$45.9M |
| Free Cash Flow | $117.7M | $239.3M | $437.6M | $527.7M | $480.4M |
| Acquisitions (net) | $0 | $0 | $0 | -$10.7M | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$103.3M | -$109.5M | -$116.7M | -$235.1M | -$195.2M |
| Net Change in Cash | -$99.0M | -$27.2M | $182.3M | $128.3M | $55.0M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 5:16am (3h ago)| Metric | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|
| Revenue |
$1.9B $1.8B – $1.9B
|
$2.1B $2.0B – $2.1B
|
$2.2B $2.2B – $2.2B
|
$2.4B $2.3B – $2.4B
|
| EBITDA |
$447.8M $439.3M – $459.1M
|
$492.1M $482.7M – $504.5M
|
$520.5M $519.0M – $521.9M
|
$562.6M $551.9M – $576.8M
|
| Net Income |
$216.7M $210.5M – $222.9M
|
$245.5M $238.5M – $252.5M
|
$272.6M $265.8M – $281.5M
|
$301.1M $293.6M – $310.9M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 6:56pm (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +3.4% | +12.5% | +29.5% | +14.8% |
| Gross Profit Growth | +1.3% | -2.4% | +32.6% | +20.5% |
| Operating Income Growth | -5.8% | -14.4% | +46.5% | +25.2% |
| Net Income Growth | -14.7% | -9.6% | +64.3% | +34.0% |
| EBITDA Growth | -4.6% | -12.3% | +35.9% | +23.7% |
Insider Trading (Recent)
Last updated: Jun 27, 2026 5:16am (3h ago)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-17 | Lee Ji-Yeun | A-Award | 30.00 | $0.00 | $0 |
| 2026-06-17 | Cornwell Kievdi Don | A-Award | 30.00 | $0.00 | $0 |
| 2026-06-17 | Rafferty Emily K | A-Award | 8.00 | $0.00 | $0 |
| 2026-06-17 | Travin David Adam | A-Award | 11.00 | $0.00 | $0 |
| 2026-06-17 | Meates Helen T | A-Award | 21.00 | $0.00 | $0 |
| 2026-06-17 | Costos James | A-Award | 14.00 | $0.00 | $0 |
| 2026-06-17 | Whitney Kenneth C | A-Award | 8.00 | $0.00 | $0 |
| 2026-06-17 | CURRIE PETER L S | A-Award | 3.00 | $0.00 | $0 |
| 2026-06-17 | RYAN THOMAS M | A-Award | 17.00 | $0.00 | $0 |
| 2026-06-17 | Skaugen Grace Reksten | A-Award | 8.00 | $0.00 | $0 |
| 2026-05-06 | Travin David Adam | S-Sale | 2,748.00 | $152.38 | $418,740 |
| 2026-05-06 | Travin David Adam | S-Sale | 252.00 | $152.92 | $38,536 |
| 2026-05-01 | Meates Helen T | S-Sale | 8,000.00 | $153.20 | $1.2M |
| 2026-04-30 | Taubman Paul J | M-Exempt | 36,000.00 | $0.00 | $0 |
| 2026-03-18 | Whitney Kenneth C | A-Award | 12.00 | $0.00 | $0 |
| 2026-03-18 | Lee Ji-Yeun | A-Award | 35.00 | $0.00 | $0 |
| 2026-03-18 | CURRIE PETER L S | A-Award | 3.00 | $0.00 | $0 |
| 2026-03-18 | Rafferty Emily K | A-Award | 12.00 | $0.00 | $0 |
| 2026-03-18 | Skaugen Grace Reksten | A-Award | 12.00 | $0.00 | $0 |
| 2026-03-18 | Cornwell Kievdi Don | A-Award | 35.00 | $0.00 | $0 |
Dividend History (Last 20)
Last updated: Jun 21, 2026 6:56pm (5d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-06-03 | $0.25 | 2026-04-23 | 2026-06-03 | 2026-06-17 |
| 2026-03-04 | $0.25 | 2026-02-03 | 2026-03-04 | 2026-03-18 |
| 2025-12-03 | $0.25 | 2025-10-27 | 2025-12-03 | 2025-12-17 |
| 2025-09-03 | $0.25 | 2025-07-29 | 2025-09-03 | 2025-09-17 |
| 2025-06-04 | $0.25 | 2025-04-29 | 2025-06-04 | 2025-06-18 |
| 2025-03-05 | $0.25 | 2025-02-04 | 2025-03-05 | 2025-03-19 |
| 2024-12-04 | $0.25 | 2024-10-29 | 2024-12-04 | 2024-12-18 |
| 2024-09-04 | $0.25 | 2024-07-30 | 2024-09-04 | 2024-09-18 |
| 2024-06-05 | $0.25 | 2024-05-02 | 2024-06-05 | 2024-06-20 |
| 2024-03-05 | $0.25 | 2024-02-06 | 2024-03-06 | 2024-03-20 |
| 2023-12-05 | $0.25 | 2023-10-31 | 2023-12-06 | 2023-12-20 |
| 2023-09-05 | $0.25 | 2023-07-25 | 2023-09-06 | 2023-09-20 |
| 2023-06-06 | $0.25 | 2023-05-02 | 2023-06-07 | 2023-06-21 |
| 2023-03-07 | $0.25 | 2023-02-07 | 2023-03-08 | 2023-03-22 |
| 2022-12-06 | $0.25 | 2022-10-25 | 2022-12-07 | 2022-12-21 |
| 2022-09-06 | $0.25 | 2022-07-26 | 2022-09-07 | 2022-09-21 |
| 2022-06-07 | $0.25 | 2022-04-26 | 2022-06-08 | 2022-06-22 |
| 2022-03-08 | $0.25 | 2022-01-31 | 2022-03-09 | 2022-03-23 |
| 2021-12-07 | $0.05 | 2021-10-26 | 2021-12-08 | 2021-12-22 |
| 2021-10-01 | $3.00 | 2021-07-29 | 2021-10-04 | 2021-10-18 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for PJT — it's generated by the pipeline (
market-narrative step).
No community reviews yet for PJT.
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30