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PJT

PartnersNYSE:PJT Stock Report

Last Price

US$65.07

Market Cap

US$2.6b

7D

-11.0%

1Y

-16.3%

Updated

22 Jan, 2022

Data

Company Financials +
PJT fundamental analysis
Snowflake Score
Valuation1/6
Future Growth2/6
Past Performance4/6
Financial Health6/6
Dividends0/6

PJT Stock Overview

PJT Partners Inc., an investment bank, provides various strategic and shareholder advisory, restructuring and special situations, and capital markets advisory services to corporations, financial sponsors, institutional investors, and governments worldwide.

Rewards

Revenue is forecast to grow 10.66% per year

Earnings have grown 67.7% per year over the past 5 years

Risk Analysis

PJT passed our risk checks.

Partners Competitors

Morgan Stanley

NYSE:MS

US$175.2b

Goldman Sachs Group

NYSE:GS

US$114.7b

Raymond James Financial

NYSE:RJF

US$20.4b

Stifel Financial

NYSE:SF

US$6.9b

Price History & Performance

Summary of all time highs, changes and price drops for Partners
Historical stock prices
Current Share PriceUS$65.07
52 Week HighUS$89.50
52 Week LowUS$64.81
Beta0.90
1 Month Change-13.18%
3 Month Change-26.12%
1 Year Change-16.34%
3 Year Change49.11%
5 Year Change105.27%
Change since IPO123.15%

Recent News & Updates

Dec 18

PJT Partners Struggles With Tough Comps But Has Offsets If M&A Peaks

Restructuring is a meaningful business for PJT and the credit environment in 2021 has not helped it. M&A is going strong, but restructuring is enough of a large franchise that overall advisory revenues are suffering. Many announced transactions at least means that the restructuring declines will be substantially offset for the full year in Q4. Moreover, the inflationary environment could push up rates and become a reason for restructuring to recover, hopefully not too much at the expense of the M&A business. With placement being relatively resilient to many market environments, and the restructuring franchise being relevant, PJT could recover.

Apr 27

PJT Partners EPS beats by $0.16, beats on revenue

PJT Partners (PJT): Q1 Non-GAAP EPS of $0.89 beats by $0.16; GAAP EPS of $1.03 beats by $0.56.Revenue of $207M (+3.4% Y/Y) beats by $8.79M.Press Release

Feb 02

PJT Partners EPS beats by $0.68, beats on revenue

PJT Partners (PJT): Q4 Non-GAAP EPS of $1.81 beats by $0.68; GAAP EPS of $1.67 beats by $0.77.Revenue of $322M (+29.5% Y/Y) beats by $58.04M.Press Release

Shareholder Returns

PJTUS Capital MarketsUS Market
7D-11.0%-5.1%-6.1%
1Y-16.3%23.4%4.2%

Return vs Industry: PJT underperformed the US Capital Markets industry which returned 23.4% over the past year.

Return vs Market: PJT underperformed the US Market which returned 4.2% over the past year.

Price Volatility

Is PJT's price volatile compared to industry and market?
PJT volatility
PJT Average Weekly Movement4.4%
Capital Markets Industry Average Movement0.7%
Market Average Movement6.7%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.4%

Stable Share Price: PJT is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: PJT's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2014749Paul Taubmanhttps://www.pjtpartners.com

PJT Partners Inc., an investment bank, provides various strategic and shareholder advisory, restructuring and special situations, and capital markets advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers a range of financial advisory and transaction execution capabilities, including mergers and acquisitions, joint ventures, minority investments, asset swaps, divestitures, and activism defense. The company also advices companies, creditors, and financial sponsors on exchanges, recapitalizations, reorganizations, debt repurchases, and distressed mergers and acquisitions.

Partners Fundamentals Summary

How do Partners's earnings and revenue compare to its market cap?
PJT fundamental statistics
Market CapUS$2.63b
Earnings (TTM)US$117.37m
Revenue (TTM)US$1.00b

22.4x

P/E Ratio

2.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PJT income statement (TTM)
RevenueUS$1.00b
Cost of RevenueUS$23.59m
Gross ProfitUS$978.90m
ExpensesUS$861.52m
EarningsUS$117.37m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

Feb 01, 2022

Earnings per share (EPS)2.90
Gross Margin97.65%
Net Profit Margin11.71%
Debt/Equity Ratio0%

How did PJT perform over the long term?

See historical performance and comparison

Dividends

0.3%

Current Dividend Yield

4%

Payout Ratio

Valuation

Is Partners undervalued compared to its fair value and its price relative to the market?

22.42x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PJT ($65.07) is trading above our estimate of fair value ($22.74)

Significantly Below Fair Value: PJT is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: PJT is poor value based on its PE Ratio (22.4x) compared to the US Capital Markets industry average (14.4x).

PE vs Market: PJT is poor value based on its PE Ratio (22.4x) compared to the US market (16.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate PJT's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: PJT is good value based on its PB Ratio (33.8x) compared to the US Capital Markets industry average (35.5x).


Future Growth

How is Partners forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

10.7%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if PJT's forecast earnings growth is above the savings rate (2%).

Earnings vs Market: Insufficient data to determine if PJT's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: PJT's revenue (10.7% per year) is forecast to grow faster than the US market (9.1% per year).

High Growth Revenue: PJT's revenue (10.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PJT's Return on Equity is forecast to be very high in 3 years time (90.6%).


Past Performance

How has Partners performed over the past 5 years?

67.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PJT has high quality earnings.

Growing Profit Margin: PJT's current net profit margins (11.7%) are higher than last year (9%).


Past Earnings Growth Analysis

Earnings Trend: PJT has become profitable over the past 5 years, growing earnings by 67.7% per year.

Accelerating Growth: PJT's earnings growth over the past year (33.1%) is below its 5-year average (67.7% per year).

Earnings vs Industry: PJT earnings growth over the past year (33.1%) underperformed the Capital Markets industry 84.5%.


Return on Equity

High ROE: PJT's Return on Equity (34.8%) is considered high.


Financial Health

How is Partners's financial position?


Financial Position Analysis

Short Term Liabilities: PJT's short term assets ($414.0M) exceed its short term liabilities ($288.4M).

Long Term Liabilities: PJT's short term assets ($414.0M) exceed its long term liabilities ($195.0M).


Debt to Equity History and Analysis

Debt Level: PJT is debt free.

Reducing Debt: PJT had no debt 5 years ago.

Debt Coverage: PJT has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: PJT has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is Partners's current dividend yield, its reliability and sustainability?

0.31%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PJT's dividend (0.31%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.37%).

High Dividend: PJT's dividend (0.31%) is low compared to the top 25% of dividend payers in the US market (3.61%).


Stability and Growth of Payments

Stable Dividend: PJT is not paying a notable dividend for the US market, therefore no need to check if payments are stable.

Growing Dividend: PJT is not paying a notable dividend for the US market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: PJT is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PJT's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

6.3yrs

Average management tenure


CEO

Paul Taubman (60 yo)

6.25yrs

Tenure

US$1,015,000

Compensation

Mr. Paul Jeffrey Taubman is the Founder, Chairman and Chief Executive Officer of PJT Partners LP. Prior to founding PJT Partners LP, Mr. Taubman spent nearly 30 years at Morgan Stanley serving in a series...


CEO Compensation Analysis

Compensation vs Market: Paul's total compensation ($USD1.02M) is below average for companies of similar size in the US market ($USD5.28M).

Compensation vs Earnings: Paul's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: PJT's management team is seasoned and experienced (6.3 years average tenure).


Board Members

Experienced Board: PJT's board of directors are considered experienced (6.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: PJT insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

PJT Partners Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: PJT Partners Inc.
  • Ticker: PJT
  • Exchange: NYSE
  • Founded: 2014
  • Industry: Investment Banking and Brokerage
  • Sector: Diversified Financials
  • Implied Market Cap: US$2.631b
  • Market Cap: US$1.579b
  • Shares outstanding: 40.44m
  • Website: https://www.pjtpartners.com

Number of Employees


Location

  • PJT Partners Inc.
  • 280 Park Avenue
  • New York
  • New York
  • 10017
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/22 23:27
End of Day Share Price2022/01/21 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.