Is PJT Partners (PJT) overvalued or fairly valued?

MarketChacha shows PJT Partners's valuation in context — a forward P/E of about 20.5, a price-to-book of about 15.2 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does PJT Partners's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (3.78×) from reported figures — education, not a rating.

What is PJT Partners's revenue?

PJT Partners reported revenue of $1.7B for FY2025, with net profit of $180.1M, per official filings.

What is the share price of PJT Partners (PJT)?

PJT Partners last traded at $182.73 (-1.7% on the day), as of 9/4/2026 — a delayed quote shown for education, not investment advice.

PJT Partners

PJT · NYSE · Financials · United States

Snapshot

TickerPJT

ExchangeNYSE

SectorFinancials

IndustryCapital Markets

CountryUnited States

Employees1,224

HeadquartersNew York, United States

Websitewww.pjtpartners.com

Filings tracked14

About PJT Partners

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.

Who owns it

Insiders7.1%
Institutions90.8%
Public & other2.1%

552 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.15.94%
Wasatch Advisors LP5.78%
Vanguard Portfolio Management LLC5.36%
Vanguard Capital Management LLC4.37%
FMR, LLC4.14%
State Street Corporation4.12%
Alliancebernstein L.P.3.29%
Geode Capital Management, LLC3.10%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

No major accounting red flags in the fundamentals we have — profit is backed by cash and returns look healthy.

Cash conversion3.78×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend7.1% → 10.6%

Margin has expanded by about 3.5 points — the business is getting more profitable.

Return on equity58.4%

Latest ROE of 58.4% — capital is generating a healthy return.

Growth qualityrev 22% · PAT 48%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $574.3M · EPS 2.56

Est. earnings growth +0.5%

Next fiscal year

Rev $2.2B · EPS 9.07

Est. earnings growth +13.4%

Analyst consensus estimates — not the company's own guidance.

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P/E ROE ROCE Margins Market cap

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$1.7B

Net margin

10.6%

ROE

58.4%

Revenue CAGR (2y)

+21.7%

Profit CAGR (2y)

+48.4%

Net profit (FY2025)

$180.1M

Ask MarketChacha about PJT

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Financials

Yearly

Period	Revenue	Net profit	Net margin	ROE
FY2025	$1.7B	$180.1M	10.6%	58.4%
FY2024	$1.5B	$134.4M	9.1%	71.9%
FY2023	$1.1B	$81.8M	7.1%	33.4%

Quarterly

Period	Revenue	Net profit	Net margin
2026Q2	$482.7M	$45.8M	9.5%
2026Q1	$411.0M	$60.5M	14.7%
2025Q3	$442.3M	$39.8M	9.0%
2025Q2	$401.1M	$32.9M	8.2%
2025Q1	$321.9M	$54.0M	16.8%
2024Q3	$320.3M	$22.1M	6.9%
2024Q2	$358.1M	$28.3M	7.9%
2024Q1	$327.1M	$32.6M	10.0%
2023Q3	$274.8M	$17.4M	6.3%
2023Q2	$347.8M	$22.1M	6.4%
2023Q1	$199.9M	$17.3M	8.7%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

10-Q filing
SEC7/30/2026
8-K — Results of operations, Exhibits
SEC7/28/2026material
8-K — Executive/director change, Exhibits
SEC7/16/2026material
8-K — Shareholder vote results
SEC6/18/2026material
10-Q filing
SEC4/30/2026
8-K — Results of operations, Exhibits
SEC4/28/2026material
10-K filing
SEC2/26/2026
8-K — Results of operations, Exhibits
SEC2/3/2026material

2025

8-K — Other events
SEC11/26/2025material
10-Q filing
SEC11/6/2025
8-K — Results of operations, Exhibits
SEC11/4/2025material
8-K — Executive/director change, Exhibits
SEC7/31/2025material
10-Q filing
SEC7/31/2025
8-K — Results of operations, Exhibits
SEC7/29/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.