Perella Weinberg Partners (PWP) Balance Sheet
PWP balance sheet, 2025
December 31, 2025 · U.S. dollars$797.6M assets = $536.9M liabilities + $260.7M equity
Both columns are drawn to the same scale: what PWP owns equals what it owes plus shareholders’ equity. Hover a block for its value.
PWP financial health
Descriptive bands, not a rating. Fiscal 2025.
PWP balance sheet trends, 2018–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $25,1722018 | $797.6M2025 | +339.5%/yr | |
| Total liabilities | $1,1492018 | $536.9M2025 | +545.6%/yr | |
| Shareholders’ equity | $24,0232018 | −$127.4M2025 | — | |
| Cash & short-term investments | $10,7622019 | $255.9M2025 | +436.2%/yr | |
| Total debt | $8692019 | $353.7M2025 | +760.9%/yr | |
| Net cash (debt) | $9,8932019 | −$97.8M2025 | −$97.8M | |
| Working capital | −$32,1692019 | $42.8M2025 | +$42.8M | |
| Book value per share | $0.002018 | −$1.982025 | — | |
| Current ratio | 0.252019 | 1.152025 | +0.90 | |
| Debt / equity | 0.042019 | 1.152023 | +1.11 | |
| Shares outstanding | 101.0M2018 | 64.2M2025 | −6.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
PWP assets
PWP liabilities and equity
PWP debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
PWP balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & short-term investments | $255.9M | $408.6M | $341.3M | $314.3M | $502.8M | $330.9M | $10,762 | — |
| Cash & equivalents | $255.9M | $332.8M | $250.1M | $174.2M | $502.8M | $330.9M | $10,762 | — |
| Short-term investments | $0 | $75.8M | $91.2M | $140.1M | $0 | $230.0M | — | — |
| Receivables | $62.7M | $74.4M | $51.3M | $71.3M | $51.1M | $41.1M | $72.9M | $0 |
| Inventory | $0 | $0 | $338.3M | $2.6M | $2.0M | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $24.3M | $0 | $0 | — |
| Total current assets | $318.6M | $483.0M | $423.3M | $385.5M | $580.2M | $372.0M | $10,762 | — |
| Property, plant & equipment (net) | $215.7M | $224.5M | $237.6M | $202.1M | $50.3M | $70.6M | $76.7M | $0 |
| Goodwill & intangible assets | $85.2M | $47.0M | $53.6M | $60.2M | $66.7M | $73.3M | $79.9M | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $230.0M | $0 | $0 |
| Other non-current assets | $178.1M | $122.2M | $46.7M | $69.3M | $21.1M | $0 | $0 | $25,172 |
| Total assets | $797.6M | $876.8M | $761.1M | $717.1M | $718.3M | $543.0M | $65,635 | $25,172 |
| Liabilities | ||||||||
| Accounts payable | $35.8M | $68.3M | $52.1M | $46.3M | $31.0M | $22.2M | $17.1M | — |
| Short-term debt | $18.5M | $19.3M | — | $140,110 | $311.5M | $27.7M | $869 | — |
| Deferred revenue | $1.0M | $600,000 | — | $5.0M | $7.8M | $10.6M | — | $300 |
| Total current liabilities | $275.8M | $413.5M | $286.0M | $265.4M | $38.9M | $246.4M | $42,931 | $1,149 |
| Long-term debt | $0 | $0 | $0 | $0 | $27.8M | $17.4M | $0 | $0 |
| Lease obligations | $186.1M | $187.3M | $175.9M | $165.6M | $43.4M | $58.2M | — | — |
| Other long-term liabilities | $261.1M | $233.5M | $206.8M | $191.5M | $380.3M | $205.0M | $251.1M | $0 |
| Total liabilities | $536.9M | $647.0M | $492.9M | $457.0M | $447.0M | $468.8M | $42,931 | $1,149 |
| Shareholders' equity | ||||||||
| Common stock & paid-in capital | $10,000 | $10,000 | $10,000 | $9,000 | $9,000 | $215.8M | $787 | $787 |
| Retained earnings (deficit) | −$130.6M | −$303.7M | −$54.6M | −$18.1M | −$18.1M | −$1.0M | −$2,296 | −$977 |
| Treasury stock | — | — | — | — | −$12.0M | — | — | — |
| Accumulated other comprehensive income | −$2.5M | −$6.2M | −$4.5M | −$6.5M | −$1.7M | −$2.3M | −$5.8M | — |
| Minority interest | $388.1M | $651.1M | $115.6M | $122.7M | $145.0M | — | — | — |
| Total shareholders' equity | −$127.4M | −$421.4M | $152.7M | $137.5M | $271.4M | $74.2M | $22,704 | $24,023 |
| Key figures | ||||||||
| Total debt | $353.7M | $187.3M | $175.9M | $165.6M | $339.3M | $205.2M | $869 | — |
| Net cash (debt) | −$97.8M | $221.3M | $165.4M | $148.7M | $163.5M | $125.7M | $9,893 | — |
| Working capital | $42.8M | $69.5M | $137.3M | $120.1M | $541.3M | $125.6M | −$32,169 | — |
| Tangible book value | −$212.6M | −$468.4M | $99.1M | $77.3M | $204.6M | $868,000 | −$79.9M | $24,023 |
| Book value per share | −$1.98 | −$7.92 | $1.76 | $1.53 | $6.37 | $0.80 | $0.00 | $0.00 |
| Shares outstanding | 64.2M | 53.2M | 86.8M | 89.8M | 42.6M | 92.8M | 101.0M | 101.0M |
| Current ratio | 1.15 | 1.17 | 1.48 | 1.45 | 14.92 | 1.51 | 0.25 | — |
| Quick ratio | 1.15 | 1.17 | 1.37 | 1.45 | 14.24 | 1.51 | 1,697.72 | 0.00 |
| Debt / equity | — | — | 1.15 | 1.20 | 1.25 | 2.77 | 0.04 | — |
| Equity / assets | −16.0% | −48.1% | 20.1% | 19.2% | 37.8% | 13.7% | 34.6% | 95.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $115.8M | $77.7M | $255.9M | $185.5M | $145.0M | $111.2M | $407.4M | $335.1M | $185.3M | $156.7M | $338.3M | $196.6M |
| Cash & equivalents | $115.8M | $77.7M | $255.9M | $185.5M | $145.0M | $111.2M | $331.6M | $260.2M | $185.3M | $156.7M | $247.2M | $126.6M |
| Short-term investments | — | — | $0 | $0 | $0 | $0 | $75.8M | $74.9M | $0 | $0 | $91.2M | $70.0M |
| Receivables | $36.7M | $34.1M | $62.7M | $41.4M | $48.4M | $47.2M | $74.4M | $91.1M | $94.1M | $61.4M | $51.3M | $72.4M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $338.3M | −$36.9M |
| Other current assets | $0 | $0 | $0 | $1.1M | $1.2M | $1.3M | $1.2M | $1.3M | $1.2M | $2.9M | $0 | $39.5M |
| Total current assets | $152.1M | $111.1M | $318.6M | $228.0M | $194.6M | $159.7M | $483.0M | $427.5M | $280.6M | $221.1M | $392.6M | $271.6M |
| Property, plant & equipment (net) | $205.8M | $210.0M | $215.7M | $216.0M | $217.4M | $220.2M | $224.5M | $232.3M | $230.3M | $234.3M | $237.6M | $226.5M |
| Goodwill & intangible assets | $80.7M | $83.0M | $85.2M | $42.1M | $43.7M | $45.4M | $47.0M | $48.6M | $50.3M | $51.9M | $53.6M | $55.2M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $206.4M | $191.7M | $178.1M | $164.1M | $151.0M | $145.2M | $122.2M | $102.4M | $84.3M | $76.3M | $77.3M | $80.9M |
| Total assets | $645.0M | $595.8M | $797.6M | $650.2M | $606.7M | $570.5M | $876.8M | $810.9M | $645.5M | $583.6M | $761.1M | $634.2M |
| Liabilities | ||||||||||||
| Accounts payable | $40.3M | $41.5M | $35.8M | $47.2M | $63.4M | $73.2M | $68.9M | $84.7M | $67.2M | $57.8M | $52.1M | $44.8M |
| Short-term debt | $9.6M | $12.7M | $18.5M | — | $10.0M | $14.4M | — | — | — | $981,000 | — | $119.1M |
| Deferred revenue | $500,000 | $700,000 | $1.0M | — | — | — | — | — | $6.8M | $2.0M | — | $1.4M |
| Total current liabilities | $105.3M | $104.2M | $275.8M | $47.2M | $63.4M | $73.2M | $68.9M | $84.7M | $74.0M | $95.1M | $52.1M | $46.2M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $179.3M | $182.1M | $186.1M | $184.8M | $185.0M | $185.5M | $187.3M | $188.4M | $181.5M | $176.3M | $175.9M | $175.3M |
| Other long-term liabilities | $275.3M | $263.4M | $261.1M | $402.6M | $367.3M | $335.6M | $578.1M | $484.5M | $348.1M | $244.8M | $440.8M | $323.2M |
| Total liabilities | $380.6M | $367.5M | $536.9M | $449.7M | $430.6M | $408.8M | $647.0M | $569.2M | $422.1M | $304.6M | $492.9M | $369.4M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $11,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $11,000 | $10,000 | $10,000 |
| Retained earnings (deficit) | −$136.6M | −$135.6M | −$130.6M | −$161.9M | −$179.4M | −$197.6M | −$303.7M | −$246.4M | −$167.9M | −$96.0M | −$54.6M | −$39.5M |
| Accumulated other comprehensive income | −$4.0M | −$3.8M | −$2.5M | −$2.1M | −$721,000 | −$4.3M | −$6.2M | −$2.9M | −$5.2M | −$5.1M | −$4.5M | −$6.2M |
| Minority interest | $310.1M | $383.0M | $388.1M | $502.9M | $494.5M | — | — | — | — | — | — | — |
| Total shareholders' equity | −$45.8M | −$154.7M | −$127.4M | −$302.4M | −$318.4M | −$323.1M | −$421.4M | −$360.8M | −$283.0M | $161.9M | $152.7M | $144.3M |
| Key figures | ||||||||||||
| Total debt | $179.3M | $182.1M | $353.7M | $184.8M | $185.0M | $185.5M | $187.3M | $188.4M | $181.5M | $176.3M | $175.9M | $175.3M |
| Net cash (debt) | −$63.4M | −$104.4M | −$97.8M | $713,000 | −$40.0M | −$74.3M | $220.0M | $146.7M | $3.8M | −$19.6M | $162.4M | $21.3M |
| Working capital | $46.8M | $6.9M | $42.8M | $180.9M | $131.2M | $86.5M | $414.1M | $342.9M | $206.6M | $125.9M | $340.5M | $225.4M |
| Tangible book value | −$126.5M | −$237.7M | −$212.6M | −$344.5M | −$362.1M | −$368.5M | −$468.4M | −$409.4M | −$333.3M | $110.0M | $99.1M | $89.0M |
| Book value per share | −$0.45 | −$1.53 | −$1.89 | −$3.02 | −$3.22 | −$4.26 | −$5.76 | −$5.17 | −$5.18 | $1.79 | $1.75 | $1.66 |
| Shares outstanding | 100.8M | 101.4M | 67.5M | 100.2M | 98.8M | 75.8M | 73.1M | 69.8M | 54.6M | 90.5M | 87.3M | 86.6M |
| Current ratio | 1.44 | 1.07 | 1.15 | 4.84 | 3.07 | 2.18 | 7.01 | 5.05 | 3.79 | 2.32 | 7.54 | 5.88 |
| Quick ratio | 1.45 | 1.07 | 1.15 | 4.81 | 3.05 | 2.17 | 6.99 | 5.04 | 3.77 | 2.29 | 7.48 | 5.82 |
| Debt / equity | — | — | — | — | — | — | — | — | — | 1.09 | 1.15 | 1.22 |
| Equity / assets | −7.1% | −26.0% | −16.0% | −46.5% | −52.5% | −56.6% | −48.1% | −44.5% | −43.8% | 27.7% | 20.1% | 22.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 27, 2026); data from EODHD.
PWP financial position
At the end of fiscal 2025 (December 31, 2025), Perella Weinberg Partners had total assets of $797.6 million (down 9.0% from a year earlier), total liabilities of $536.9 million and shareholders' equity of -$127.4 million. It held $255.9 million in cash and short-term investments against $353.7 million of debt, net debt of $97.8 million. Its current ratio was 1.15. In the latest quarter (ended June 30, 2026) total assets were $645.0 million and equity -$45.8 million.
Related: PWP income statement, PWP cash flow statement, PWP key metrics. See the PWP stock overview for the latest quote and news.
PWP balance sheet FAQ
What are Perella Weinberg Partners's total assets?
Perella Weinberg Partners reported total assets of $797.6 million at the end of fiscal 2025 (December 31, 2025), compared with $876.8 million a year earlier.
How much debt does Perella Weinberg Partners have?
Perella Weinberg Partners had $353.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does Perella Weinberg Partners have?
Perella Weinberg Partners held $255.9 million in cash and short-term investments at the end of fiscal 2025; with $353.7 million of debt that is net debt of $97.8 million.
What is Perella Weinberg Partners's book value?
Perella Weinberg Partners's shareholders' equity (book value) was -$127.4 million at the end of fiscal 2025, or −$1.98 per share.
What is Perella Weinberg Partners's current ratio?
Perella Weinberg Partners had current assets of $318.6 million and current liabilities of $275.8 million, a current ratio of 1.15 (it can cover its short-term obligations).
How much goodwill does Perella Weinberg Partners have?
Perella Weinberg Partners carried $85.2 million of goodwill and intangible assets, 10.7% of total assets, at the end of fiscal 2025.