PJT Partners
Advises on strategic transactions, restructurings, capital raising and alternative-investment fund liquidity.
Something off on this page? Send us feedback.
Profile
Advises corporations, sponsors, investors and governments on strategic transactions, restructurings, capital raising and private-fund liquidity. Revenue comes mainly from advisory engagements and often depends on transaction completion, while Strategic Advisory, Restructuring & Special Situations and PJT Park Hill operate as one reportable segment.
Advises corporations, financial sponsors, institutional investors and governments on mergers, capital markets, shareholder matters and geopolitical questions through Strategic Advisory. Restructuring & Special Situations handles liability management, distressed transactions, bespoke financing and court-supervised reorganizations, while PJT Park Hill raises alternative-investment funds and arranges private-capital liquidity solutions.
Serves clients worldwide from New York and offices across the United States, Europe, the Middle East and Asia. Its integrated model combines senior professionals' product, industry and geographic expertise on complex assignments; substantially all revenue comes from client contracts for advisory services.
Fee timing depends heavily on completed transactions and fund closings, while bankruptcy fees can require court approval. U.S. advisory and placement work runs through a registered broker-dealer subject to SEC and FINRA capital and conduct rules.
Company facts
Categories
Key statistics
Year to date +7.9% · Average volume (30d) 402.2K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 3, 2026 | BMO Capital | Reiterate | Outperform | $194 | ||
| Jul 29, 2026 | UBS | Reiterate | Neutral | $162 | $176 | |
| Jul 8, 2026 | UBS | Reiterate | Neutral | $152 | $162 | |
| Apr 8, 2026 | UBS | Reiterate | Neutral | $180 | $152 | |
| Apr 8, 2026 | Keefe, Bruyette & Woods | Upgrade | Market Perform | Outperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 28, 2026Q2 FY26 | $1.57 | $1.97 | +25.5% | $425.3M | $486.3M | +14.3% | −4.70% |
| Apr 28, 2026Q1 FY26 | $1.51 | $1.54 | +2.0% | $409.4M | $418.2M | +2.2% | −0.75% |
| Feb 3, 2026Q4 FY25 | $2.41 | $2.55 | +5.8% | $534.7M | $535.2M | +0.1% | +1.52% |
| Nov 4, 2025Q3 FY25 | $1.24 | $1.85 | +49.2% | $520.5M | $447.1M | −14.1% | +2.36% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $324.5M | $406.9M | $447.1M | $535.2M | $418.2M | $486.3M | |
| Gross profit | $103.4M | $130.1M | $143.8M | $178.5M | $414.3M | $481.9M | |
| Operating income | $58.6M | $81.7M | $96.3M | $126.3M | $80.3M | $102.1M | |
| Net income | $54.0M | $32.9M | $39.8M | $53.4M | $60.5M | $45.8M | |
| Diluted EPS | $1.99 | $1.21 | $1.47 | −$0.52 | $3.34 | $1.66 | |
| Gross margin | 31.9% | 32.0% | 32.2% | 33.4% | 99.1% | 99.1% | |
| Operating margin | 18.0% | 20.1% | 21.5% | 23.6% | 19.2% | 21.0% |
Fiscal years (4-quarter sums)FY21 $991.9M · FY22 $1.03B · FY23 $1.15B · FY24 $1.49B · FY25 $1.71B
Revenue by product · Q4 FY25
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $235.5M · Total debt $419.4M · Total assets $1.76B · Shareholders' equity $312.1M
Dividends
Raised for 9 straight years — most recently to $0.25 from $0.05 in Mar 2022. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 3, 2026 | Jun 3 | Jun 17 | $0.25 | |
| Mar 4, 2026 | Mar 4 | Mar 18 | $0.25 | |
| Dec 3, 2025 | Dec 3 | Dec 17 | $0.25 | |
| Sep 3, 2025 | Sep 3 | Sep 17 | $0.25 | |
| Jun 4, 2025 | Jun 4 | Jun 18 | $0.25 | |
| Mar 5, 2025 | Mar 5 | Mar 19 | $0.25 | |
| Dec 4, 2024 | Dec 4 | Dec 18 | $0.25 | |
| Sep 4, 2024 | Sep 4 | Sep 18 | $0.25 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 25.57M · Float 23.72M · 92.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 4.08M | 15.94% | 13F | Aug 7, 2026 |
| Wasatch Advisors LP | 1.48M | 5.70% | 13G | Jul 17, 2026 |
| Vanguard Portfolio Management LLC | 1.37M | 5.36% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 1.12M | 4.37% | 13F | Aug 13, 2026 |
| FMR LLC | 1.06M | 4.14% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 21, 2026 | James Costos | director | −1,723 | $175.00 |
| Aug 21, 2026 | Kievdi Don Cornwell | director | −7,845 | $173.48 |
| Aug 10, 2026 | Emily K. Rafferty | director | −1,100 | $167.35 |
| Jul 31, 2026 | Grace Reksten Skaugen | director | −1,283 | $167.67 |
| May 6, 2026 | David Adam Travin | officer: General Counsel | −3,000 | $152.43 |
Peers
- Evercore
Direct independent-advisory peer across M&A, restructuring and private capital
- Houlihan Lokey
Restructuring-heavy advisory rival with M&A and valuation breadth
- Lazard
Global advisory rival in M&A, restructuring and private capital
- Moelis & Company
Independent bank competing in M&A, restructuring and private funds
- Jefferies Financial Group
Full-service bank rival where advisory and capital markets converge
- Perella Weinberg Partners
Smaller independent-advisory peer in M&A, restructuring and capital advice
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| PJT Partners | $182.80 | −0.05% | $4.67B | 30.7 | 21.8 | 2.5 | +19.5% |
| Evercore | $293.00 | +1.00% | $11.22B | 16.4 | 15.1 | 2.4 | +19.2% |
| Houlihan Lokey | $133.02 | 0.00% | $9.30B | 22.4 | 17.5 | 3.7 | −15.6% |
| Lazard | $43.64 | −0.07% | $4.25B | 21.0 | 13.7 | 1.3 | −2.7% |
| Moelis & Company | $68.40 | +0.02% | $5.07B | 23.8 | 19.5 | 3.2 | +12.1% |
| Jefferies Financial Group | $53.09 | 0.00% | $10.80B | 14.8 | 13.3 | 0.9 | −11.5% |
| Perella Weinberg Partners | $16.98 | 0.00% | $1.67B | 56.5 | 13.4 | 2.4 | +0.8% |
| Median | 21.7 | 14.4 | 2.4 | −0.9% |