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Pjt Partners Inc Financials

PJT
FY2025 annual
Revenue $1.7B +14.8% YoY
Net Income $180.1M +34.0% YoY
EPS (Diluted) Not reported for FY2025
Free Cash Flow $480.4M -8.9% YoY
Source SEC Filings (10-K/10-Q) Data as of Jun 30, 2026 Currency USD FYE December

Pjt Partners Inc (PJT) reported $1.7B in revenue for fiscal year 2025, up 14.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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).

Rhea AI PJT FY2025

Asset-light advisory economics let PJT turn rising fees into cash quickly, while steady shareholder payouts keep book equity thin.

From FY2023 through FY2025, operating cash flow exceeded net income every year, not just once, reaching $526.3M versus $180.1M in FY2025. With capex only $45.9M, free cash flow still held at $480.4M, pointing to an asset-light cash engine that grows without tying much capital up in fixed assets.

ROE looks spectacular at 58.4%, but part of that signal comes from a thin equity base rather than profit alone. FY2025 closed with only $308.2M of equity supporting $1.84B of assets for a business of this scale, which magnifies book-value returns and helps explain why leverage ratios can look severe even while cash remains substantial.

The cost structure appears people-heavy rather than asset-heavy: SG&A absorbed 67.6% of FY2025 revenue while capex was only 2.7%. That setup created operating leverage without heavy reinvestment, lifting net margin to 10.5% from 7.1% in FY2023 as added revenue dropped through more efficiently instead of being consumed by new capital spending.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Earnings Growth Capital Efficiency CreditQuality Stability 51 / 100
Financial Health Score 51/100
Scored as: Banks peer group

Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Pjt Partners Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Earnings
99
Growth
82
Capital
86
Efficiency
0

Not available for Pjt Partners Inc, and counted as zero in the overall score.

Credit Quality
0

Not available for Pjt Partners Inc, and counted as zero in the overall score.

Stability
41
Piotroski F-Score Partial
5/5

Pjt Partners Inc passes 5 of 5 computable financial strength tests (4 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), both operating efficiency signals pass.

Earnings Quality Cash-Backed
2.92x

For every $1 of reported earnings, Pjt Partners Inc generates $2.92 in operating cash flow ($526.3M OCF vs $180.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue
$1.7B
YoY+14.8%
5Y CAGR+10.2%
10Y CAGR+15.5%

Pjt Partners Inc generated $1.7B in revenue in fiscal year 2025. This represents an increase of 14.8% from the prior year.

Net Income
$180.1M
YoY+34.0%
5Y CAGR+8.9%
10Y CAGR+37.3%

Pjt Partners Inc reported $180.1M in net income in fiscal year 2025. This represents an increase of 34.0% from the prior year.

EBITDA

Not reported for fiscal year 2025.

EPS (Diluted)

Not reported for fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow
$480.4M
YoY-8.9%
5Y CAGR+0.8%
10Y CAGR+20.0%

Pjt Partners Inc generated $480.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 8.9% from the prior year.

Cash & Debt
$538.9M
YoY+11.4%
5Y CAGR+12.5%
10Y CAGR+20.7%

Pjt Partners Inc held $538.9M in cash as of fiscal year 2025; long-term debt is not reported for that period.

Dividends Per Share

Not reported for fiscal year 2025.

Shares Outstanding

Not reported for fiscal year 2025.

Margins & Returns

Net Margin
10.5%
YoY+1.5pp
5Y CAGR-0.7pp
10Y CAGR+8.6pp

Pjt Partners Inc's net profit margin was 10.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.5 percentage points from the prior year.

Return on Equity
58.4%
YoY-13.4pp
5Y CAGR-17.8pp

Pjt Partners Inc's ROE was 58.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 13.4 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

Share Buybacks
$195.2M
YoY-17.0%
5Y CAGR+32.0%

Pjt Partners Inc spent $195.2M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 17.0% from the prior year.

Capital Expenditures
$45.9M
YoY+1290.6%
5Y CAGR+39.0%
10Y CAGR+2.9%

Pjt Partners Inc invested $45.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 1290.6% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

PJT Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

PJT annual income statement
MetricTTMFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13
Revenue$1.9B$1.7B+14.8%$1.5B+29.5%$1.2B+12.5%$1.0B+3.4%$991.9M-5.7%$1.1B+46.6%$717.6M+23.7%$580.2M+16.2%$499.3M0.0%$499.4M+23.0%$405.9M+1.2%$401.1M+1.0%$397.0M
SG&A Expenses$1.3B$1.2B+12.2%$1.0B+28.1%$805.4M+20.4%$669.1M+4.5%$640.0M-6.3%$683.4M+36.1%$502.2M+18.3%$424.5M+8.4%$391.5M+2.8%$381.0M+20.9%$315.2M-0.7%$317.5M-6.6%$339.8M
Income Tax$51.7M$33.2M+3.4%$32.1M+0.5%$31.9M-13.0%$36.7M+24.4%$29.5M-17.0%$35.5M+93.1%$18.4M+1861.1%-$1.0M-102.7%$38.4M+308.6%$9.4M+3829.7%$239K-92.2%$3.0M-9.7%$3.4M
Net Income$199.5M$180.1M+34.0%$134.4M+64.3%$81.8M-9.6%$90.5M-14.7%$106.2M-9.7%$117.5M+297.6%$29.6M+8.8%$27.2M+183.5%-$32.6M-973.0%-$3.0M-140.0%$7.6M+68.7%$4.5M+126.2%-$17.2M

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, Interest Expense, EPS (Diluted).

TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

PJT Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

PJT annual balance sheet
MetricFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13
Total Assets$1.8B+12.7%$1.6B+14.0%$1.4B+36.6%$1.1B+6.4%$987.6M-15.7%$1.2B+23.0%$952.8M+41.8%$671.8M+20.2%$559.0M-5.3%$590.5M+26.4%$467.3M+34.3%$348.0MN/A
Cash & Equivalents$538.9M+11.4%$483.9M+36.1%$355.5M+105.2%$173.2M-13.6%$200.5M-33.1%$299.5M+38.7%$215.9M+103.5%$106.1M-27.1%$145.6M-4.5%$152.4M+85.2%$82.3M+113.6%$38.5M+29.9%$29.7M
Accounts Receivable$404.3M+26.0%$320.8M+21.7%$263.5M-17.1%$317.8M+9.8%$289.3M+24.1%$233.2M+2.5%$227.5M+4.5%$217.8M+14.4%$190.4M-16.3%$227.6M+34.2%$169.6M+4.1%$162.9MN/A
Goodwill$191.6M0.0%$191.6M+10.9%$172.7M0.0%$172.7M0.0%$172.7M0.0%$172.7M0.0%$172.7M-1.9%$176.0M+143.5%$72.3M0.0%$72.3M-4.6%$75.8M+10.0%$68.9M0.0%$68.9M
Total Liabilities$1.5B+6.0%$1.4B+21.7%$1.2B+37.5%$865.5M-0.2%$867.4M-14.7%$1.0B+10.4%$921.4M+32.0%$698.3M-2.5%$716.2M+19.6%$599.0M+37.7%$435.2M+2684.0%$15.6MN/A
Total Equity$308.2M+64.8%$187.0M-23.6%$244.7M+32.2%$185.1M+54.0%$120.2M-22.1%$154.3M+391.4%$31.4M+218.6%-$26.5M+83.2%-$157.3M-1737.4%-$8.6M-126.7%$32.1M-90.3%$332.3M+10.3%$301.3M
Retained Earnings$384.2M+68.1%$228.6M+93.2%$118.3M+94.1%$61.0M+1335.9%-$4.9M+85.1%-$33.1M+77.1%-$144.9M+14.7%-$169.8M+8.7%-$186.0M-936.4%-$17.9M-60.5%-$11.2MN/AN/A

Not reported in any period shown, so not listed: Current Assets, Inventory, Current Liabilities, Long-Term Debt.

PJT Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

PJT annual cash flow statement
MetricTTMFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13
Operating Cash Flow$713.0M$526.3M-0.9%$531.0M+20.3%$441.5M+81.9%$242.7M+95.5%$124.2M-73.6%$469.4M+122.2%$211.3M+71.8%$122.9M+10.5%$111.2M-4.8%$116.9M+4.2%$112.2M+124.4%$50.0M-0.4%$50.2M
Capital Expenditures$51.2M$45.9M+1290.6%$3.3M-16.0%$3.9M+14.4%$3.4M-46.9%$6.5M-26.9%$8.9M+0.5%$8.8M+22.3%$7.2M+578.5%$1.1M-91.9%$13.1M-62.2%$34.6MN/AN/A
Free Cash Flow$661.8M$480.4M-8.9%$527.7M+20.6%$437.6M+82.9%$239.3M+103.3%$117.7M-74.4%$460.6M+127.5%$202.4M+74.9%$115.7M+5.1%$110.2M+6.2%$103.8M+33.7%$77.6MN/AN/A
Investing Cash Flow-$244.4M-$28.5M-454.1%$8.1M+123.5%-$34.3M+35.5%-$53.2M-140.5%$131.3M+190.1%-$145.8M-8374.0%-$1.7M+94.5%-$31.5M+17.6%-$38.2M-204.7%-$12.6MN/AN/AN/A
Financing Cash Flow-$447.9M-$453.8M-11.0%-$408.7M-79.2%-$228.1M-8.6%-$210.0M+40.6%-$353.4M-44.7%-$244.3M-141.5%-$101.1M+22.6%-$130.7M-64.1%-$79.6M-144.9%-$32.5MN/AN/AN/A
Dividends Paid$25.1M$24.5M+1.6%$24.1M-1.2%$24.4M-0.8%$24.6M-68.4%$78.0M+1518.1%$4.8M+3.7%$4.6M+7.5%$4.3M+13.8%$3.8M+1.8%$3.7MN/AN/AN/A
Share Buybacks$119.2M$195.2M-17.0%$235.1M+101.4%$116.7M+6.6%$109.5M+5.9%$103.3M+112.3%$48.7M+1.8%$47.8M-26.3%$64.9M+2718.0%$2.3MN/AN/AN/AN/A

TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

PJT Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

PJT annual financial ratios
MetricFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13
Net Margin10.5%+1.5pp9.0%+1.9pp7.1%-1.7pp8.8%-1.9pp10.7%-0.5pp11.2%+7.0pp4.1%-0.6pp4.7%+11.2pp-6.5%-5.9pp-0.6%-2.5pp1.9%+0.8pp1.1%+5.5pp-4.3%
Return on Equity58.4%-13.4pp71.9%+38.4pp33.4%-15.5pp48.9%-39.4pp88.3%+12.1pp76.2%-18.0pp94.2%N/AN/AN/A23.6%+22.3pp1.4%+7.1pp-5.7%
Return on Assets9.8%+1.6pp8.2%+2.5pp5.7%-2.9pp8.6%-2.1pp10.8%+0.7pp10.0%+6.9pp3.1%-0.9pp4.0%+9.9pp-5.8%-5.3pp-0.5%-2.1pp1.6%+0.3pp1.3%N/A
Debt-to-Equity4.98-2.8x7.74+2.9x4.87+0.2x4.68-2.5x7.21+0.6x6.60-22.8x29.35N/AN/AN/A13.57+13.5x0.05N/A
FCF Margin28.0%-7.3pp35.3%-2.6pp38.0%+14.6pp23.3%+11.5pp11.9%-31.9pp43.8%+15.6pp28.2%+8.3pp20.0%-2.1pp22.1%+1.3pp20.8%+1.7pp19.1%N/AN/A

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.

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Frequently Asked Questions

What is Pjt Partners Inc's annual revenue?

Pjt Partners Inc (PJT) reported $1.7B in total revenue for fiscal year 2025. This represents a 14.8% 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 14.8% year-over-year, from $1.5B to $1.7B in fiscal year 2025.

Is Pjt Partners Inc profitable?

Yes, Pjt Partners Inc (PJT) reported a net income of $180.1M in fiscal year 2025, with a net profit margin of 10.5%.

Pjt Partners Inc (PJT) had a net profit margin of 10.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Pjt Partners Inc (PJT) has a return on equity of 58.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Pjt Partners Inc (PJT) generated $480.4M in free cash flow during fiscal year 2025. This represents a -8.9% 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.

Pjt Partners Inc (PJT) generated $526.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Pjt Partners Inc (PJT) had $1.8B in total assets as of fiscal year 2025, including both current and long-term assets.

Pjt Partners Inc (PJT) invested $45.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Pjt Partners Inc (PJT) spent $195.2M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Pjt Partners Inc (PJT) had a debt-to-equity ratio of 4.98 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Pjt Partners Inc (PJT) had a return on assets of 9.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Pjt Partners Inc (PJT) has a Piotroski F-Score of 5 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Pjt Partners Inc (PJT) has an earnings quality ratio of 2.92x, 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.

Pjt Partners Inc (PJT) scores 51 out of 100 on our Financial Health Score, indicating moderate standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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