Pjt Partners Inc Financials

PJT

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 75/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

100

Pjt Partners Inc's revenue surged 29.5% year-over-year to $1.5B, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Pjt Partners Inc has elevated debt relative to equity (D/E of 7.74), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Cash Flow

100

Pjt Partners Inc converts 35.3% of revenue into free cash flow ($527.7M). This strong cash generation earns a score of 100/100.

Returns

100

Pjt Partners Inc earns a strong 71.9% return on equity (ROE), meaning it generates $72 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is up from 33.4% the prior year.

Piotroski F-Score Neutral

5/9

Pjt Partners Inc passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

3.95x

For every $1 of reported earnings, Pjt Partners Inc generates $3.95 in operating cash flow ($531.0M OCF vs $134.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

This page shows Pjt Partners Inc (PJT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$1.5B

YoY+29.5%

5Y CAGR+15.8%

10Y CAGR+14.0%

Pjt Partners Inc generated $1.5B in revenue in fiscal year 2024. This represents an increase of 29.5% from the prior year.

EBITDA

N/A

Free Cash Flow

$527.7M

YoY+20.6%

5Y CAGR+21.1%

Pjt Partners Inc generated $527.7M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 20.6% from the prior year.

Net Income

$134.4M

YoY+64.3%

5Y CAGR+35.4%

10Y CAGR+40.5%

Pjt Partners Inc reported $134.4M in net income in fiscal year 2024. This represents an increase of 64.3% from the prior year.

EPS (Diluted)

N/A

Cash & Debt

$483.9M

YoY+36.1%

5Y CAGR+17.5%

10Y CAGR+28.8%

Pjt Partners Inc held $483.9M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

N/A

Operating Margin

N/A

Net Margin

9.0%

YoY+1.9pp

5Y CAGR+4.9pp

10Y CAGR+7.9pp

Pjt Partners Inc's net profit margin was 9.0% in fiscal year 2024, showing the share of revenue converted to profit. This is up 1.9 percentage points from the prior year.

Return on Equity

71.9%

YoY+38.4pp

5Y CAGR-22.3pp

10Y CAGR+70.5pp

Pjt Partners Inc's ROE was 71.9% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 38.4 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$235.1M

YoY+101.4%

5Y CAGR+37.5%

Pjt Partners Inc spent $235.1M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 101.4% from the prior year.

Capital Expenditures

$3.3M

YoY-16.0%

5Y CAGR-17.8%

Pjt Partners Inc invested $3.3M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 16.0% from the prior year.

PJT Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$1.5B+29.5%	$1.2B+12.5%	$1.0B+3.4%	$991.9M-5.7%	$1.1B+46.6%	$717.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$32.1M+0.5%	$31.9M-13.0%	$36.7M+24.4%	$29.5M-17.0%	$35.5M+93.1%	$18.4M
Net Income	$134.4M+64.3%	$81.8M-9.6%	$90.5M-14.7%	$106.2M-9.7%	$117.5M+297.6%	$29.6M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$447.1M+9.9%	$406.9M+25.4%	$324.5M-32.0%	$477.3M+32.5%	$360.2M+9.3%	$329.4M+0.3%	$328.6M+18.0%	$278.4M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$16.0M+6.3%	$15.0M+169.7%	-$21.6M-281.6%	$11.9M+4.5%	$11.4M+2040.9%	$531K-91.4%	$6.2M-45.6%	$11.4M
Net Income	$39.8M+21.1%	$32.9M-39.1%	$54.0M+5.3%	$51.3M+81.2%	$28.3M-13.2%	$32.6M+31.0%	$24.9M+43.1%	$17.4M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

PJT Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$1.6B+14.0%	$1.4B+36.6%	$1.1B+6.4%	$987.6M-15.7%	$1.2B+23.0%	$952.8M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$483.9M+36.1%	$355.5M+105.2%	$173.2M-13.6%	$200.5M-33.1%	$299.5M+38.7%	$215.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$320.8M+21.7%	$263.5M-17.1%	$317.8M+9.8%	$289.3M+24.1%	$233.2M+2.5%	$227.5M
Goodwill	$191.6M+10.9%	$172.7M0.0%	$172.7M0.0%	$172.7M0.0%	$172.7M0.0%	$172.7M
Total Liabilities	$1.4B+21.7%	$1.2B+37.5%	$865.5M-0.2%	$867.4M-14.7%	$1.0B+10.4%	$921.4M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$187.0M-23.6%	$244.7M+32.2%	$185.1M+54.0%	$120.2M-22.1%	$154.3M+391.4%	$31.4M
Retained Earnings	$228.6M+93.2%	$118.3M+94.1%	$61.0M+1335.9%	-$4.9M+85.1%	-$33.1M+77.1%	-$144.9M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$1.7B+13.7%	$1.5B+8.2%	$1.4B-14.6%	$1.6B+15.3%	$1.4B+8.9%	$1.3B-9.3%	$1.4B+20.1%	$1.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$400.5M+86.6%	$214.6M+10.5%	$194.3M-59.9%	$483.9M+194.7%	$164.2M-23.8%	$215.5M-39.4%	$355.5M+206.4%	$116.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$371.3M+3.4%	$359.0M+6.0%	$338.6M+5.6%	$320.8M-6.7%	$343.7M+5.8%	$325.0M+23.3%	$263.5M-18.7%	$324.1M
Goodwill	$191.6M0.0%	$191.6M0.0%	$191.6M0.0%	$191.6M+10.9%	$172.7M0.0%	$172.7M0.0%	$172.7M0.0%	$172.7M
Total Liabilities	$1.5B+10.9%	$1.3B+7.7%	$1.2B-13.8%	$1.4B+12.8%	$1.3B+13.9%	$1.1B-5.3%	$1.2B+18.8%	$1.0B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$228.6M+36.5%	$167.4M+12.5%	$148.8M-20.4%	$187.0M+39.8%	$133.8M-23.4%	$174.6M-28.6%	$244.7M+26.8%	$192.9M
Retained Earnings	$336.9M+11.1%	$303.2M+9.7%	$276.4M+20.9%	$228.6M+36.8%	$167.1M+15.4%	$144.7M+22.3%	$118.3M+18.9%	$99.5M

PJT Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$531.0M+20.3%	$441.5M+81.9%	$242.7M+95.5%	$124.2M-73.6%	$469.4M+122.2%	$211.3M
Capital Expenditures	$3.3M-16.0%	$3.9M+14.4%	$3.4M-46.9%	$6.5M-26.9%	$8.9M+0.5%	$8.8M
Free Cash Flow	$527.7M+20.6%	$437.6M+82.9%	$239.3M+103.3%	$117.7M-74.4%	$460.6M+127.5%	$202.4M
Investing Cash Flow	$8.1M+123.5%	-$34.3M+35.5%	-$53.2M-140.5%	$131.3M+190.1%	-$145.8M-8374.0%	-$1.7M
Financing Cash Flow	-$408.7M-79.2%	-$228.1M-8.6%	-$210.0M+40.6%	-$353.4M-44.7%	-$244.3M-141.5%	-$101.1M
Dividends Paid	$24.1M-1.2%	$24.4M-0.8%	$24.6M-68.4%	$78.0M+1518.1%	$4.8M+3.7%	$4.6M
Share Buybacks	$235.1M+101.4%	$116.7M+6.6%	$109.5M+5.9%	$103.3M+112.3%	$48.7M+1.8%	$47.8M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$256.1M+34.5%	$190.4M+350.8%	-$75.9M-138.8%	$195.7M+1.1%	$193.6M+599.1%	-$38.8M-131.3%	$123.8M-17.6%	$150.1M
Capital Expenditures	$15.2M+32.0%	$11.5M+481.1%	$2.0M+366.4%	$425K-17.6%	$516K+17.5%	$439K-12.9%	$504K-8.2%	$549K
Free Cash Flow	$240.9M+34.6%	$178.9M+329.6%	-$77.9M-139.9%	$195.3M+1.2%	$193.0M+592.2%	-$39.2M-131.8%	$123.3M-17.6%	$149.6M
Investing Cash Flow	-$32.7M+59.5%	-$80.9M-388.4%	$28.0M-88.9%	$252.5M+252.1%	-$166.0M-377.6%	$59.8M-61.8%	$156.6M+195.5%	-$164.0M
Financing Cash Flow	-$39.3M+58.3%	-$94.3M+61.5%	-$245.0M-130.0%	-$106.5M-32.5%	-$80.4M+49.2%	-$158.4M-258.5%	-$44.2M-127.7%	-$19.4M
Dividends Paid	$6.1M-0.1%	$6.1M-2.7%	$6.3M+4.9%	$6.0M-0.3%	$6.0M-3.9%	$6.2M+2.6%	$6.1M0.0%	$6.1M
Share Buybacks	$0-100.0%	$63.4M-50.2%	$127.1M+156.8%	$49.5M-11.7%	$56.1M-47.3%	$106.4M+884.3%	$10.8M+482.3%	$1.9M

PJT Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	9.0%+1.9pp	7.1%-1.7pp	8.8%-1.9pp	10.7%-0.5pp	11.2%+7.0pp	4.1%
Return on Equity	71.9%+38.4pp	33.4%-15.5pp	48.9%-39.4pp	88.3%+12.1pp	76.2%-18.0pp	94.2%
Return on Assets	8.2%+2.5pp	5.7%-2.9pp	8.6%-2.1pp	10.8%+0.7pp	10.0%+6.9pp	3.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	7.74+2.9	4.87+0.2	4.68-2.5	7.21+0.6	6.60-22.8	29.35
FCF Margin	35.3%-2.6pp	38.0%+14.6pp	23.3%+11.5pp	11.9%-31.9pp	43.8%+15.6pp	28.2%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	8.9%+0.8pp	8.1%-8.5pp	16.6%+5.9pp	10.8%+2.9pp	7.9%-2.0pp	9.9%+2.3pp	7.6%+1.3pp	6.3%
Return on Equity	17.4%-2.2pp	19.7%-16.6pp	36.3%+8.9pp	27.4%+6.3pp	21.2%+2.5pp	18.7%+8.5pp	10.2%+1.2pp	9.0%
Return on Assets	2.3%+0.1pp	2.2%-1.7pp	3.9%+0.7pp	3.1%+1.1pp	2.0%-0.5pp	2.5%+0.8pp	1.7%+0.3pp	1.5%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	6.52-1.5	8.03-0.4	8.38+0.6	7.74-1.9	9.60+3.1	6.46+1.6	4.87-0.3	5.19
FCF Margin	53.9%+9.9pp	44.0%+68.0pp	-24.0%-64.9pp	40.9%-12.7pp	53.6%+65.5pp	-11.9%-49.4pp	37.5%-16.2pp	53.7%

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Frequently Asked Questions

What is Pjt Partners Inc's annual revenue?

Pjt Partners Inc (PJT) reported $1.5B in total revenue for fiscal year 2024. This represents a 29.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Pjt Partners Inc's revenue growing?

Pjt Partners Inc (PJT) revenue grew by 29.5% year-over-year, from $1.2B to $1.5B in fiscal year 2024.

Is Pjt Partners Inc profitable?

Yes, Pjt Partners Inc (PJT) reported a net income of $134.4M in fiscal year 2024, with a net profit margin of 9.0%.

What is Pjt Partners Inc's net profit margin?

Pjt Partners Inc (PJT) had a net profit margin of 9.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Pjt Partners Inc's return on equity (ROE)?

Pjt Partners Inc (PJT) has a return on equity of 71.9% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Pjt Partners Inc's free cash flow?

Pjt Partners Inc (PJT) generated $527.7M in free cash flow during fiscal year 2024. This represents a 20.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Pjt Partners Inc's operating cash flow?

Pjt Partners Inc (PJT) generated $531.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Pjt Partners Inc's total assets?

Pjt Partners Inc (PJT) had $1.6B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Pjt Partners Inc's capital expenditures?

Pjt Partners Inc (PJT) invested $3.3M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Does Pjt Partners Inc buy back shares?

Yes, Pjt Partners Inc (PJT) spent $235.1M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

What is Pjt Partners Inc's debt-to-equity ratio?

Pjt Partners Inc (PJT) had a debt-to-equity ratio of 7.74 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Pjt Partners Inc's return on assets (ROA)?

Pjt Partners Inc (PJT) had a return on assets of 8.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Pjt Partners Inc's Piotroski F-Score?

Pjt Partners Inc (PJT) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Pjt Partners Inc's earnings high quality?

Pjt Partners Inc (PJT) has an earnings quality ratio of 3.95x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Pjt Partners Inc?

Pjt Partners Inc (PJT) scores 75 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.