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Financials · PJT

PJT Partners Inc. (PJT) financials

For the twelve months ended Sep 30, 2026, PJT Partners Inc. reported $1.82B of revenue and $191.52M of net income.

Revenue, TTM
$1.82B
Revenue growth, YoY
+10.2%
Net income, TTM
$191.52M
Net income growth, YoY
+7.6%
Net margin
10.5%
Free cash flow, TTM
$687.98M
Cash
$257.37M
P/E
20.06
P/S
2.11
Market cap
$3.84B
Annual revenue$1.71B
FY2016FY2025
Annual net income$180.12M
FY2016FY2025
Annual free cash flow$480.44M
FY2016FY2025

PJT revenue and earnings growth

PJT revenueQ3 2026$385.12M

Quarter YoY
-13.9%
QoQ
-20.8%
FY YoY
+14.8%
5Y CAGR
+10.2%
10Y CAGR
+15.5%

PJT revenue was $385.12M in fiscal Q3 2026 (ended Sep 30, 2026), down 13.9% from a year earlier and down 20.8% from the prior quarter. For the full fiscal 2025 it was $1.71B, up 14.8% from fiscal 2024. Compound annual growth was +10.2% over 5 years and +15.5% over 10 years. It rose in 8 of the last 10 fiscal years. Fiscal 2025 is the highest of the 13 fiscal years on file.

PJT net incomeQ3 2026$31.83M

Quarter YoY
-20.1%
QoQ
-30.6%
FY YoY
+34.0%
5Y CAGR
+8.9%
10Y CAGR
+37.3%

PJT net income was $31.83M in fiscal Q3 2026 (ended Sep 30, 2026), down 20.1% from a year earlier and down 30.6% from the prior quarter. For the full fiscal 2025 it was $180.12M, up 34.0% from fiscal 2024. Compound annual growth was +8.9% over 5 years and +37.3% over 10 years. It rose in 4 of the last 7 fiscal years. Fiscal 2025 is the highest of the 13 fiscal years on file.

PJT free cash flowQ3 2026$267.05M

Quarter YoY
+10.9%
QoQ
+18.0%
FY YoY
-8.9%
5Y CAGR
+0.8%
10Y CAGR
+20.0%

PJT free cash flow was $267.05M in fiscal Q3 2026 (ended Sep 30, 2026), up 10.9% from a year earlier and up 18.0% from the prior quarter. For the full fiscal 2025 it was $480.44M, down 8.9% from fiscal 2024. Compound annual growth was +0.8% over 5 years and +20.0% over 10 years. It rose in 8 of the last 10 fiscal years.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$1.71B$1.49B$1.15B$1.03B$991.95M$1.05B$717.64M$580.25M$499.28M$499.43M
Pre-tax income$342.92M$270.57M$177.61M$201.47M$219.45M$247.96M$82.19M$41.51M$10.05M$14.50M
Income tax$33.18M$32.10M$31.93M$36.70M$29.49M$35.53M$18.40M-$1.04M$38.38M$9.39M
Net income$180.12M$134.39M$81.80M$90.53M$106.17M$117.55M$29.56M$27.17M-$32.55M-$3.03M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$538.86M$483.88M$355.54M$173.24M$200.48M$299.51M$215.95M$106.11M$145.62M$152.43M
Goodwill$191.61M$191.61M$172.72M$172.72M$172.72M$172.72M$172.72M$176.03M$72.29M$72.29M
Total assets$1.84B$1.64B$1.43B$1.05B$987.63M$1.17B$952.78M$671.82M$558.97M$590.48M
Total liabilities$834.21M$733.69M$573.81M$291.09M$350.05M$483.76M$378.26M$184.07M$136.51M$177.06M
Shareholders' equity$308.25M$901.64M$861.16M$759.56M$637.57M$687.85M$574.52M$487.75M$422.45M-$8.56M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$526.30M$530.95M$441.53M$242.73M$124.16M$469.44M$211.26M$122.94M$111.22M$116.85M
Capital expenditures$45.86M$3.30M$3.93M$3.43M$6.47M$8.85M$8.81M$7.21M$1.06M$13.09M
Free cash flow$480.44M$527.65M$437.61M$239.30M$117.69M$460.59M$202.45M$115.73M$110.15M$103.76M
Investing cash flow-$28.55M$8.06M-$34.35M-$53.23M$131.35M-$145.75M-$1.72M-$31.49M-$38.24M-$12.55M
Financing cash flow-$453.79M-$408.68M-$228.08M-$210.02M-$353.38M-$244.28M-$101.15M-$130.68M-$79.64M-$32.52M
Dividends paid$24.52M$24.13M$24.44M$24.63M$77.97M$4.82M$4.64M$4.32M$3.80M$3.73M
Share repurchases$195.22M$235.10M$116.74M$109.48M$103.34M$48.67M$47.81M$64.87M$2.30M-
Stock-based compensation$234.34M$209.19M$178.53M$165.53M$108.91M$120.91M$111.57M$117.99M$115.93M$89.01M
Depreciation and amortization$13.34M$12.80M$14.05M$15.47M$15.75M$15.05M$14.50M$9.97M$8.14M$14.03M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY14.8%29.5%12.3%3.5%-5.7%46.6%23.7%16.2%-0.0%23.0%
Net income growth, YoY34.0%64.3%-9.6%-14.7%-9.7%297.6%8.8%---
Net margin10.5%9.0%7.1%8.8%10.7%11.2%4.1%4.7%-6.5%-0.6%
Free cash flow margin28.0%35.3%37.9%23.3%11.9%43.8%28.2%19.9%22.1%20.8%
Return on equity58.4%14.9%9.5%11.9%16.7%17.1%5.1%5.6%-7.7%-
Return on assets9.8%8.2%5.7%8.6%10.7%10.0%3.1%4.0%-5.8%-0.5%

Source: XBRL data PJT Partners Inc. files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

PJT peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
PJT$1.82B+10.2%$191.52M10.5%$3.84B
BX$16.08B+22.1%$3.56B22.1%$93.11B
KKR$20.35B+19.8%$3.41B16.8%$88.05B
APO$30.82B+12.2%-$918.00M-3.0%$72.15B
ARES$5.76B+7.6%$432.80M7.5%$46.10B
AMP$20.14B+8.8%$4.16B20.7%$44.99B
TROW$7.70B+6.9%$2.19B28.4%$23.64B
TPG$5.17B+21.6%$268.72M5.2%$18.89B

PJT FAQ

7 questions
  • What is PJT revenue?
    PJT Partners Inc. (PJT) reported $1.82B of revenue for the twelve months ended Sep 30, 2026. That is up 10.2% from the year before. Revenue for fiscal 2025 was $1.71B.
  • Is PJT profitable?
    Yes. PJT Partners Inc. earned $191.52M in net income for the twelve months ended Sep 30, 2026, a net margin of 10.5%.
  • How much cash and debt does PJT have?
    PJT Partners Inc. reported $257.37M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is PJT revenue growing?
    PJT Partners Inc.'s revenue changed +14.8% in fiscal 2025, to $1.71B. Its compound annual growth rate was +10.2% over 5 years and +15.5% over 10 years.
  • What is PJT free cash flow?
    PJT Partners Inc. generated $687.98M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $732.64M less capital expenditures.
  • When did PJT last report financial results?
    The latest statements here come from PJT Partners Inc.'s 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.
  • Where does this PJT financial data come from?
    Quantisnow builds these statements from the structured XBRL data PJT Partners Inc. files with the SEC. It is provided for information only and is not investment advice.