olivLaw · US equity research
PJT Partners Inc. PJT
Investment Advice · SIC 6282 · Vertical: Investment Advice (SIC 6282)
PJT Partners is a global, advisory-focused investment bank offering strategic advisory, restructuring and special situations services, and fundraising for alternative funds through PJT Park Hill. Revenues reached 1713.7 million USD in fiscal 2025, and second quarter 2026 revenues rose 20% year over year, keeping the firm tied to the cycles of M&A, restructuring and private capital markets.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, PJT Partners Inc. (PJT) stock was 158.12 USD (+7.87% on the day), with market capitalisation 3.9 bn USD, P/E 19.7, dividend yield 0.64%, beta 1.10, 52-week range 129.05–191.42 USD. Latest reported quarter (Q2 2026): revenue of 486.3 m USD (+19.5% YoY), net income of 45.8 m USD (+39.3% YoY).
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 62.8
- strong (55–70)
- Bollinger (20, 2)
- 128.19 – 156.01
- above the upper band · %B 1.08 · band width 19.6%
- SMA 50 / 200
- 152.75 / 155.96
- mixed trend
- MACD (12, 26, 9)
- 1.11 / -1.48
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +14.6% | −1.1% | +15.7 pp | — |
| 3 months | −9.1% | −0.5% | −8.7 pp | — |
| 6 months | +3.9% | +4.4% | −0.5 pp | — |
| Year to date | −5.4% | +12.3% | −17.7 pp | — |
| 1 year | −3.2% | +13.5% | −16.8 pp | −2.5% |
| 3 years | +90.3% | +76.4% | +13.9 pp | +21.9% |
| 5 years | +89.8% | +63.7% | +26.1 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 326.3 m | 477.3 m | 324.5 m | 406.9 m | 447.1 m | 535.2 m | 418.2 m | 486.3 m |
| Depreciation & amortisation | 3.0 m | 3.2 m | 3.2 m | 3.3 m | 3.4 m | 3.4 m | 3.9 m | 4.3 m |
| Pre-tax income | 49.4 m | 102.9 m | 52.6 m | 76.5 m | 91.0 m | 122.9 m | 80.4 m | 102.1 m |
| Income tax | 8.3 m | 11.9 m | -21.6 m | 15.0 m | 16.0 m | 23.7 m | -8.9 m | 20.8 m |
| Net income | 22.2 m | 51.3 m | 54.0 m | 32.9 m | 39.8 m | 53.4 m | 60.5 m | 45.8 m |
| Operating cash flow | 180.5 m ≈ | 195.7 m | -75.9 m | 190.4 m ≈ | 256.1 m ≈ | 155.7 m | 64.3 m | 237.0 m ≈ |
| Capex | 1.9 m ≈ | 425.0 k | 2.0 m | 11.5 m ≈ | 15.2 m ≈ | 17.2 m | 8.3 m | 10.6 m ≈ |
| Dividends paid | 6.0 m ≈ | 6.0 m | 6.3 m | 6.1 m ≈ | 6.1 m ≈ | 6.1 m | 6.5 m | 6.4 m ≈ |
| Share repurchases | 23.0 m ≈ | 49.5 m | 127.1 m | 63.4 m ≈ | 0 ≈ | 4.7 m | 61.3 m | 53.2 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
EPS unavailable in the issuer's structured filings (e.g. a partnership reports per unit, not per share).
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 580.2 m | 717.6 m | 1.1 bn | 991.9 m | 1.0 bn | 1.2 bn | 1.5 bn | 1.7 bn |
| Revenue YoY | +16.2% | +23.7% | +46.6% | −5.7% | +3.4% | +12.5% | +29.5% | +14.8% |
| Net income | 27.2 m | 29.6 m | 117.5 m | 106.2 m | 90.5 m | 81.8 m | 134.4 m | 180.1 m |
| Net income YoY | unavailable | +8.8% | +297.6% | −9.7% | −14.7% | −9.6% | +64.3% | +34.0% |
| Diluted EPS | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | 4.7% | 4.1% | 11.2% | 10.7% | 8.8% | 7.1% | 9.0% | 10.5% |
| Free cash flow | 115.7 m | 202.4 m | 460.6 m | 117.7 m | 239.3 m | 437.6 m | 527.7 m | 480.4 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 538.9 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 1.0 bn USD
- Total assets
- 1.8 bn USD
- Debt / equity
- unavailable
- Current ratio
- unavailable
- ROE
- 18.9%
- ROA
- 10.4%
- FCF margin
- 28.0%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 1.1 bn | 991.9 m | 1.0 bn | 1.2 bn | 1.5 bn | 1.7 bn | SEC (XBRL)· 26 Feb 2026verified |
| Depreciation & amortisation | 15.1 m | 15.8 m | 15.5 m | 14.0 m | 12.8 m | 13.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Pre-tax income | 248.0 m | 219.4 m | 201.5 m | 177.6 m | 270.6 m | 342.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Income tax | 35.5 m | 29.5 m | 36.7 m | 31.9 m | 32.1 m | 33.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Net income | 117.5 m | 106.2 m | 90.5 m | 81.8 m | 134.4 m | 180.1 m | SEC (XBRL)· 26 Feb 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 299.5 m | 200.5 m | 173.2 m | 355.5 m | 483.9 m | 538.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Property, plant & equipment, net | 38.8 m | 37.1 m | 30.7 m | 25.9 m | 22.1 m | 61.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Goodwill | 172.7 m | 172.7 m | 172.7 m | 172.7 m | 191.6 m | 191.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Intangibles (excl. goodwill) | 32.0 m | 24.4 m | 17.9 m | 13.0 m | 13.0 m | 7.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Total assets | 1.2 bn | 987.6 m | 1.1 bn | 1.4 bn | 1.6 bn | 1.8 bn | SEC (XBRL)· 26 Feb 2026verified |
| Total liabilities | 483.8 m | 350.1 m | 291.1 m | 573.8 m | 733.7 m | 834.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Equity | 687.8 m | 637.6 m | 759.6 m | 861.2 m | 901.6 m | 1.0 bn | SEC (XBRL)· 26 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 469.4 m | 124.2 m | 242.7 m | 441.5 m | 531.0 m | 526.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Capex | 8.9 m | 6.5 m | 3.4 m | 3.9 m | 3.3 m | 45.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Free cash flow | 460.6 m ≈ | 117.7 m ≈ | 239.3 m ≈ | 437.6 m ≈ | 527.7 m ≈ | 480.4 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Investing cash flow | -145.8 m | 131.3 m | -53.2 m | -34.3 m | 8.1 m | -28.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Financing cash flow | -244.3 m | -353.4 m | -210.0 m | -228.1 m | -408.7 m | -453.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Dividends paid | 4.8 m | 78.0 m | 24.6 m | 24.4 m | 24.1 m | 24.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Share repurchases | 48.7 m | 103.3 m | 109.5 m | 116.7 m | 235.1 m | 195.2 m | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 50.0% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 3.9 bn USD
Key indicators
Coverage and freshness
Score by group
50% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 131.35 – 242.51 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E131.35 – 242.51 (Mid 180.94)28 companies used · median multiple 22.5x · quartiles 16.3x – 30.1xAAMI, ABX, AMG, AMP, APAM, APO, ARES, BEN, BVC, BX, CG, CNS, GCMG, GROW, HLI, HNNA, KKR, LAZ, MORN, NOAH, PAX, RILY, RPC, TROW, VALU, VCTR, VRTS, WHG
- Dividend discount (DDM)unavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 50.0% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 10.6% | 41 (vs peers) | 13% |
| FCF conversion · Quality | 331.7% | 100 (on a fixed band) | 13% |
| Revenue CAGR 3Y · Growth | 18.7% | 100 (on a fixed band) | 17% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | 19.7x | 72 (vs peers) | 21% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 16.9% | 100 (on a fixed band) | 17% |
| Shareholder yield (distributions) · Returns | 3.7% | 53 (on a fixed band) | 13% |
| Payout ratio (FCF) · Returns | 3.8% | 100 (on a fixed band) | 8% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partialunavailable · 0/3 factors with a value
- Growth· partial100/100 · 1/2 factors with a value
- Quality71/100 · 2/3 factors with a value
- Returns72/100 · 2/2 factors with a value
- Valuation84/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
PJT Partners Inc. (PJT). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 1.7 bn USD in 2025; YoY growth 14.8%; net margin 10.6%; ROE 83.2%.
The estimated value range is 131.35–242.51 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 180.94 USD, the price of 158.12 USD leaves a potential of 14.4% (value / price − 1) and a margin of safety of 12.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 50.0% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 331.7%
- Revenue CAGR 3Y: 18.7%
- P/E (TTM): 19.7x
- FCF yield: 16.9%
- Payout ratio (FCF): 3.8%
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): ROIC, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, Current ratio, EV/EBITDA.
Versus the vertical median
Investment Advice (SIC 6282) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BXBlackstone Inc. | 94.3 bn | 28.1 | 40.5% | 21.8% | +9.2% | −14% / +12% |
| KKRKkr & Co. Inc. | 91.0 bn | 28.9 | 10.6% | 14.8% | −11.0% | −17% / +34% |
| APOApollo Global Management, Inc. | 72.5 bn | 43.8 | 9.3% | 5.2% | +22.7% | −7% / +33% |
| AMPAmeriprise Financial, Inc. | 45.8 bn | 11.9 | 72.0% | 20.7% | +5.5% | +16% / +49% |
| TROWPrice T Rowe Group Inc | 24.0 bn | 11.3 | 19.7% | 28.4% | +3.1% | +10% / +12% |
| BENFranklin Resources Inc | 17.2 bn | 22.8 | 6.8% | 8.7% | +3.5% | +50% / +37% |
| CGCarlyle Group Inc. | 15.2 bn | 44.6 | 5.2% | 10.1% | −11.9% | −22% / +25% |
| ARESAres Management Corporation | 14.1 bn | 22.2 | 15.3% | 12.0% | +28.9% | −13% / +22% |
| IVZInvesco Ltd. | 12.9 bn | — | -0.6% | -1.2% | +5.1% | +20% / +106% |
| AMGAffiliated Managers Group, Inc. | 9.4 bn | 17.8 | 18.9% | 26.9% | +1.6% | +36% / +169% |
| MORNMorningstar, Inc. | 9.1 bn | 21.4 | 35.1% | 17.0% | +7.5% | +14% / −14% |
| VCTRVictory Capital Holdings, Inc. | 7.4 bn | 20.6 | 19.0% | 29.6% | +46.2% | +91% / +274% |
| MAASMAASE Inc. | 4.9 bn | — | -7.2% | -102.1% | −75.2% | +182% / −95% |
| LAZLazard, Inc. | 4.5 bn | 24.4 | 20.6% | 5.5% | +1.5% | −19% / +36% |
| PJTPJT Partners Inc. | 3.9 bn | 19.7 | 83.2% | 10.6% | +14.8% | −3% / +90% |
| CNSCohen & Steers, Inc. | 3.9 bn | 23.3 | 29.2% | 28.2% | +7.5% | +20% / +29% |
| APAMArtisan Partners Asset Management Inc. | 3.3 bn | 9.3 | 73.1% | 24.5% | +7.6% | −2% / +7% |
| AAMIAcadian Asset Management Inc. | 3.3 bn | 32.4 | — | 15.2% | +11.5% | +104% / +425% |
| NOAHNoah Holdings Ltd | 2.4 bn | 30.7 | 5.8% | 21.4% | +4.8% | −31% / −45% |
| ABXAbacus Global Management, Inc. | 885.0 m | 32.5 | 6.6% | 10.5% | +110.2% | +37% / +31% |
| VRTSVirtus Investment Partners, Inc. | 853.6 m | 7.4 | 12.6% | 14.0% | −6.0% | −19% / −34% |
| GCMGGCM Grosvenor Inc. | 550.6 m | 30.0 | 682.1% | 7.8% | +8.5% | +19% / +61% |
| VALUValue Line, Inc. | 416.6 m | 21.0 | 18.7% | 60.3% | −4.7% | +20% / +6% |
| WHGWestwood Holdings Group, Inc. | 182.5 m | 21.9 | 6.4% | 7.8% | +3.2% | +14% / +75% |
| RILYBRC Group Holdings, Inc. | 154.0 m | 0.3 | — | 35.9% | +29.6% | −12% / −79% |
1- and 3-year price returns: for PJT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 103.33 Total return -35% · Per year -35% | 181.84 Total return 15% · Per year 15% | 272.76 Total return 73% · Per year 73% |
| 3 years | 122.56 Total return -22% · Per year -8% | 240.48 Total return 52% · Per year 15% | 392.77 Total return 148% · Per year 35% |
| 5 years | 145.38 Total return -8% · Per year -2% | 318.04 Total return 101% · Per year 15% | 565.59 Total return 258% · Per year 29% |
- Exit P/E± 60.12
- Net margin± 42.08
- Annual revenue growth± 31.39
- Annual dilution± 3.54
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 8-K (03 Nov 2026 · results).
In brief
PJT Partners is a global, advisory-focused investment bank offering strategic advisory, restructuring and special situations services, and fundraising for alternative funds through PJT Park Hill. Revenues reached 1713.7 million USD in fiscal 2025, and second quarter 2026 revenues rose 20% year over year, keeping the firm tied to the cycles of M&A, restructuring and private capital markets.
SWOT
Strengths
- The company holds a strong position in restructuring and special situations, where it has been recognized for leading global rankings. The integrated platform allows collaboration across divisions.
- The balance sheet is solid, with no funded debt and substantial cash and short-term investments at 30 June 2026, giving flexibility during periods of volatility.
- The firm attracts and retains senior talent, supporting client relationships and access to extensive networks of decision makers and capital sources.
Weaknesses
- Revenues depend on closing a relatively small number of transactions, which makes quarterly results volatile and hard to predict.
- A small group of clients can account for a significant share of revenues, so losing a few mandates can materially affect results.
- Compensation is the largest cost, and investment in senior talent can raise expenses before it generates revenue.
Opportunities
- If M&A activity keeps recovering, the company could benefit from more strategic advisory mandates.
- Expansion into new sectors and regions through hiring and strategic investment could open additional revenue sources.
- Demand for liquidity solutions from alternative fund investors could support growth at PJT Park Hill.
Threats
- Lower transaction volumes during economic uncertainty could reduce advisory revenues directly.
- Competition for mandates and talent could pressure fees and compensation costs.
- Regulatory, conflict-of-interest and cybersecurity risks could damage the firm's reputation and operations.
Risks
- Revenue volatilityhigh
Revenues depend on the closing of transactions, which lies outside the company's control. Quarterly results can vary considerably.
- Client concentrationmedium
A small number of clients can represent a significant share of revenues, and losing them could affect results.
- Dependence on private capital marketsmedium
Fundraising depends on capital available for illiquid assets and investor sentiment, factors that are hard to control.
- Conflict-of-interest and reputational risksmedium
Inadequate management of conflicts could lead to litigation, regulatory action or loss of clients.
- Cyber and operational riskslow
System failures or cyber attacks could interrupt operations and expose client data.
Investment thesis
What would need to be true (bull case)
- If M&A and restructuring activity stays elevated, the record first-half 2026 results could be sustained.
- A balance sheet with no funded debt and a share repurchase program give financial flexibility for strategic investment.
- Global expansion and technology investment could strengthen the firm's position among leading advisers.
What would break the thesis
- An economic slowdown or rising geopolitical uncertainty could quickly reduce transaction volumes.
- Rising personnel costs and expansion spending could compress margins if revenues do not grow at the same pace.
- Dependence on a few large mandates could make results hard to forecast from one quarter to the next.
What to watch
- Revenue and pretax margin trends in the coming quartersQ3 2026
- Global M&A volumes and the pace of completed transactions2026
- Fundraising activity at PJT Park Hill and demand for liquidity solutions2026
- Client, compensation and risk-factor disclosures in the next annual reportnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 8-K (03 Nov 2026 · results).
The business
PJT Partners describes its model as a global, advisory-focused investment bank providing independent advice to corporations, financial sponsors, creditors and governments. The company trades on the NYSE under the symbol PJT and reported 1,224 employees, including 133 partners, at 31 December 2025. Revenues depend mainly on the number and complexity of active engagements and on fees earned when transactions close, so results can fluctuate considerably from quarter to quarter.
Segments
Strategic Advisory
This segment advises on mergers and acquisitions, spin-offs, activism defense and contested M&A, and also covers capital markets advisory and shareholder engagement. It includes a geopolitical and policy advisory practice.
Restructuring and Special Situations
The division advises on liability management, restructurings, Chapter 11 matters and tort liability resolutions, and is one of the leading global advisers in the field. Demand depends on debt defaults, bankruptcies and general credit conditions.
PJT Park Hill
PJT Park Hill provides advisory and fundraising services for alternative funds, including private equity, alternative credit, real estate and private capital solutions for general and limited partners. Activity depends on the availability of private capital and the pace of asset realizations.
Market context
According to the annual report, worldwide announced M&A volumes rose 49% in 2025 compared with 2024, although the number of transactions fell to a five-year low. In the first half of 2026 volumes increased meaningfully, though the improvement was more modest on an annualized basis, and restructuring activity stayed elevated.
Trends
- Recovery in M&A activitytailwind
Higher deal volumes could support strategic advisory revenues if the momentum from the second half of 2025 persists. Market sentiment, however, can change quickly.
- Elevated restructuring activitymixed
Debt pressure and bankruptcies have kept demand for restructuring services high. If credit conditions improve, demand for these services could decline.
- Difficult fundraising marketheadwind
Slower asset realizations and competition for investor capital constrain PJT Park Hill's fundraising for new funds. Demand for liquidity solutions from general and limited partners provides partial support.
- Geopolitical and technological tensionsmixed
Geopolitical conflict, trade policy and artificial intelligence can influence both transactions and client needs. Their net effect is hard to anticipate and depends on the global economic outlook.
Competitive position
The financial advisory industry is intensely competitive, and PJT Partners competes with other investment banks, advisory firms, private equity firms, hedge funds and corporate entities for both clients and talent. Differentiating factors include client relationships, industry knowledge and transaction execution capability.
- LazardLAZ
Direct competitor in strategic advisory and restructuring, competing for complex mandates among investment banks.
- EvercoreEVR
Advisory-focused investment bank competing with PJT Partners for M&A and strategic advisory mandates.
- Houlihan LokeyHLI
Competitor in restructuring and special situations, where it pursues corporate clients and distressed creditors.
- Private equity and hedge fund firms
Competition for talent and resources, with an indirect impact on advisory activity and capital raising.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- JetBlue creditors are working with restructuring adviser PJT Partners, WSJ reportsCNBC — Top News · 25 Oct 2026 · EN
- Hertz Taps PJT Partners to Extend Debt as Maturities LoomBloomberg Markets · 30 Sept 2026 · EN
The latest news item in our archive is from 25 Oct 2026; the newest SEC filing is from 03 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report03 Nov 2026Material agreement · Results of operations · Creation of a direct financial obligation · Financial statements and exhibits
- Quarterly report30 Jul 2026
- Current report28 Jul 2026Results of operations · Financial statements and exhibits
- Current report16 Jul 2026Departure or appointment of officers · Financial statements and exhibits
- Current report18 Jun 2026Shareholder vote
- Quarterly report30 Apr 2026
- Proxy statement29 Apr 2026
- Current report28 Apr 2026Results of operations · Financial statements and exhibits
- Annual report26 Feb 2026
- Current report03 Feb 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / PJT Partners Inc. · 26 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / PJT Partners Inc. · 30 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / PJT Partners Inc. · 28 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.