PJT Partners Inc. (PJT) Stock

PJT Partners Inc. (PJT) is a Financials stock trading at $170.64 (as of 2026-08-20), with a market capitalization of $4.23B and a trailing P/E of 21.2. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

PJT Partners Inc. is an investment bank offering strategic and capital markets advisory, restructuring and special situations, and shareholder-focused services. It advises corporations, financial sponsors, institutional investors, and governments, including company boards and management, on transactions and capital raising across debt and equity, as well as investor relations and related matters.

Understand PJT Partners Inc.: how it makes money

PJT Partners provides strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services, and it makes money primarily from advisory fees and related transaction-driven fees.

Its profit model is driven by transaction and advisory activity, so results depend on the level and timing of client engagements and completed transactions (including timing effects like revenue pull-forward).

Revenue by segment (latest quarter)
PJT$0.4B
Other$0.0B

Business quality (Solid): Useful high-level quarter snapshot is provided (total revenue and operating margin), but segment detail is limited and several candidate revenue lines do not reconcile cleanly to total revenue.

Valuation: At 21× earnings, PJT trades 37% below the Trading average (34×). Note: one-time items can distort reported P/E.

Bull case

  • Advisory fees are the core revenue driver: Advisory Fees Revenue is 0.47B (USD) in the latest period.
  • Operational profitability is shown: Operating margin is 19.2% for the quarter ending 2026-03-31.
  • Partner base is a clear operating input: Firm-Wide Partner Headcount is 133.0 (count).

Bear case

  • Timing and completion effects can make results uneven: Revenue Pull-Forward from Transaction Completions is 0.03B (USD), indicating timing can affect reported results.
  • Some sub-areas are under pressure vs prior year: PJT Park Hill Revenues Decline Versus Prior Year is 0.04B (USD).
  • Placement fees are a smaller component: Placement Fees Revenue is 0.05B (USD), suggesting less contribution than advisory fees in this snapshot.
Valuation — source: SEC EDGAR (first-party)
Price$170.64
Market Cap$4.23B
P/E Ratio21.2
EV / EBITDA9.7
Price / Book4.30
Price / Sales2.24
FCF Yield15.6%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$1.71B
Net Margin10.5%
Revenue Growth (YoY)19.5%
FCF Growth (YoY)26.5%
Valuation vs Sector & Industry
Stock P/E21.2
Sector P/E (Financials)15.1
Industry P/E (Trading)34.6
vs Sector40.1%
vs Industry-38.7%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($516.00M)
Institutional Holders Tracked10
Company
SectorFinancials
IndustryTrading
CEOPaul Jeffrey Taubman
Employees1,143
CountryUS
IPO Date2015-09-22

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PJT earnings history · PJT institutional & insider holders · PJT KPIs & operating metrics · PJT financials · PJT investor presentations & press releases · PJT SEC filings · PJT peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.