PJT Partners Inc. (PJT) Key Metrics
PJT valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $5.84B
- Enterprise value
- $4.00B
- P/E (TTM)
- 18.7 10-yr median 31.4
- Forward P/E
- 16.5
- PEG ratio
- 1.36
- Price / sales
- 3.1 10-yr median 2.4
- Price / book
- 12.2 10-yr median 15.5
- EV / EBITDA
- 8.9 10-yr median 11.3
- Dividend yield
- 0.44% $1.00 a year
- Beta
- 0.88
PJT key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsPJT valuation Price multiples at each fiscal year-end price.
PJT returns How much profit the business earns on the capital it uses.
PJT per-share figures Results divided by the shares outstanding at year-end.
PJT financial health Debt, liquidity and how easily interest is covered.
PJT efficiency & capital use Working capital cycle and where the cash goes.
PJT valuation history
PJT returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
PJT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
PJT cash returned to shareholders
PJT price vs earnings per share
PJT key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $4.78B | $6.96B | $2.73B | $1.96B | $3.14B | $3.25B | $1.13B | $1.46B | $845.4M | $555.9M |
| Enterprise value | $4.61B | $6.83B | $2.70B | $1.92B | $3.09B | $3.12B | $1.12B | $1.39B | $700.1M | $403.9M |
| P/E ratio | 26.6 | 51.8 | 33.3 | 21.7 | 29.6 | 27.6 | 38.2 | 53.6 | — | — |
| Price / sales | 2.8 | 4.7 | 2.4 | 1.9 | 3.2 | 3.1 | 1.6 | 2.5 | 1.7 | 1.1 |
| Price / book | 15.5 | 37.2 | 11.1 | 10.6 | 26.1 | 21.0 | 36.0 | 3.0 | 2.0 | — |
| Price / free cash flow | 10.0 | 13.2 | 6.2 | 8.2 | 26.7 | 7.0 | 5.6 | 12.6 | 7.7 | 5.4 |
| Price / operating cash flow | 9.1 | 13.1 | 6.2 | 8.1 | 25.3 | 6.9 | 5.3 | 11.8 | 7.6 | 4.8 |
| EV / sales | 2.7 | 4.6 | 2.3 | 1.9 | 3.1 | 3.0 | 1.6 | 2.4 | 1.4 | 0.8 |
| EV / EBITDA | 11.7 | 21.4 | 11.5 | 7.2 | 11.0 | 10.0 | 7.9 | 19.2 | 18.8 | 7.6 |
| EV / free cash flow | 9.6 | 12.9 | 6.2 | 8.0 | 26.3 | 6.8 | 5.5 | 12.0 | 6.4 | 3.9 |
| Earnings yield | 3.8% | 1.9% | 3.0% | 4.6% | 3.4% | 3.6% | 2.6% | 1.9% | −3.9% | −0.5% |
| Free cash flow yield | 10.0% | 7.6% | 16.0% | 12.2% | 3.8% | 14.2% | 17.9% | 8.0% | 13.0% | 18.7% |
| Dividend yield | 0.5% | 0.3% | 0.9% | 1.3% | 2.5% | 0.1% | 0.4% | 0.3% | 0.4% | 0.7% |
| Shareholder yield (dividends + buybacks) | 4.6% | 3.7% | 5.2% | 6.8% | 5.8% | 1.6% | 4.6% | 4.8% | 0.7% | 0.7% |
| Share price at fiscal year-end | $167.20 | $157.81 | $101.87 | $73.69 | $74.09 | $75.25 | $45.13 | $38.76 | $45.60 | $30.88 |
| Per share | ||||||||||
| Revenue per share | $59.90 | $33.85 | $43.08 | $38.53 | $23.42 | $24.40 | $28.69 | $15.45 | $26.93 | $27.74 |
| Earnings per share | $6.30 | $3.05 | $3.06 | $3.40 | $2.51 | $2.73 | $1.18 | $0.72 | −$1.76 | −$0.17 |
| Operating cash flow per share | $18.40 | $12.04 | $16.50 | $9.12 | $2.93 | $10.89 | $8.45 | $3.27 | $6.00 | $6.49 |
| Free cash flow per share | $16.79 | $11.96 | $16.35 | $8.99 | $2.78 | $10.68 | $8.10 | $3.08 | $5.94 | $5.76 |
| Cash per share | $20.48 | $10.97 | $13.28 | $6.51 | $4.73 | $6.94 | $8.63 | $2.83 | $7.85 | $8.47 |
| Book value per share | $10.77 | $4.24 | $9.14 | $6.95 | $2.84 | $3.58 | $1.25 | $12.99 | $22.79 | −$0.48 |
| Tangible book value per share | $3.82 | −$0.40 | $2.20 | −$0.21 | −$1.81 | −$1.17 | −$7.24 | $6.99 | $18.22 | −$5.31 |
| Dividends per share | $0.86 | $0.55 | $0.91 | $0.93 | $1.84 | $0.11 | $0.19 | $0.12 | $0.20 | $0.21 |
| Capex per share | $1.60 | $0.07 | $0.15 | $0.13 | $0.15 | $0.21 | $0.35 | $0.19 | $0.06 | $0.73 |
| Debt per share | $14.47 | $8.04 | $12.35 | $5.10 | $3.71 | $3.99 | $8.17 | $1.03 | $0.02 | $0.02 |
| Shares outstanding | 28.6M | 44.1M | 26.8M | 26.6M | 42.4M | 43.1M | 25.0M | 37.6M | 18.5M | 18.0M |
| Change in shares outstanding | −35.1% | +64.8% | +0.6% | −37.2% | −1.8% | +72.4% | −33.4% | +102.6% | +3.0% | −1.4% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 72.7% | 62.3% | 38.1% | 59.3% | 77.4% | 126.6% | 11.4% | 6.0% | −15.7% | — |
| Return on invested capital (ROIC) | 337.8% | 184.2% | 88.4% | 168.6% | 409.3% | — | 38.3% | 17.8% | 25.0% | — |
| Return on assets (ROA) | 10.2% | 8.8% | 6.6% | 8.9% | 9.8% | 11.1% | 3.6% | 4.4% | −5.7% | −0.6% |
| Return on tangible assets | 10.5% | 9.4% | 6.5% | 10.5% | 13.4% | 12.2% | 4.0% | 6.1% | −6.9% | −0.6% |
| Free cash flow margin | 28.0% | 35.3% | 37.9% | 23.3% | 11.9% | 43.8% | 28.2% | 19.9% | 22.1% | 20.8% |
| Income quality (OCF / net income) | 2.92 | 3.95 | 5.40 | 2.68 | 1.17 | 3.99 | 7.15 | 4.52 | — | — |
| Financial health | ||||||||||
| Total debt | $413.9M | $354.5M | $330.6M | $135.6M | $157.0M | $172.3M | $204.4M | $38.5M | $288,000 | $365,000 |
| Cash & short-term investments | $585.8M | $483.9M | $355.5M | $173.2M | $200.5M | $299.5M | $215.9M | $106.1M | $145.6M | $152.4M |
| Net debt | −$171.9M | −$129.4M | −$24.9M | −$37.6M | −$43.5M | −$127.2M | −$11.5M | −$67.6M | −$145.3M | −$152.1M |
| Debt / equity | 1.34 | 1.90 | 1.35 | 0.73 | 1.31 | 1.12 | 6.51 | 0.08 | 0.00 | — |
| Debt / assets | 0.22 | 0.22 | 0.23 | 0.13 | 0.16 | 0.15 | 0.21 | 0.06 | 0.00 | 0.00 |
| Net debt / EBITDA | −0.44 | −0.41 | −0.11 | −0.14 | −0.16 | −0.41 | −0.08 | −0.94 | −3.91 | −2.85 |
| Current ratio | 27.67 | 10.07 | 9.00 | 6.86 | 6.87 | 9.18 | 8.35 | 5.12 | 11.47 | 14.88 |
| Quick ratio | 27.67 | 10.07 | 2.65 | −0.70 | 6.87 | −2.38 | −0.03 | 19.22 | 36.54 | 43.50 |
| Interest coverage | — | — | — | 2.1 | 2.2 | 2.3 | 1.8 | — | — | — |
| Working capital | $954.3M | $724.7M | $550.3M | $419.4M | $418.4M | $474.7M | $390.4M | $198.0M | $235.8M | $286.3M |
| Invested capital | $136.4M | $57.7M | $219.7M | $147.5M | $76.8M | $27.0M | $19.9M | $420.1M | $277.1M | −$160.6M |
| Tangible asset value | $810.0M | $697.0M | $675.5M | $569.0M | $440.5M | $483.1M | $362.0M | $262.6M | $337.9M | −$95.6M |
| Net current asset value | $92.2M | $71.0M | $45.3M | $199.9M | $139.7M | $48.9M | $65.2M | $61.9M | $121.8M | −$292.1M |
| Graham number | $39.07 | $17.05 | $25.07 | $23.07 | $12.65 | $14.81 | $5.78 | $14.54 | — | — |
| Graham net-net per share | −$0.31 | −$0.21 | $7.39 | $14.69 | $1.59 | $7.56 | $9.23 | −$8.29 | −$10.18 | −$34.77 |
| Capital allocation | ||||||||||
| Dividends paid | $24.5M | $24.1M | $24.4M | $24.6M | $78.0M | $4.8M | $4.6M | $4.3M | $3.8M | $3.7M |
| Share buybacks (net) | $195.2M | $235.1M | $116.7M | $109.5M | $103.3M | $48.7M | $47.8M | $64.9M | $2.3M | $266,000 |
| Dividend payout ratio | 13.6% | 18.0% | 29.9% | 27.2% | 73.4% | 4.1% | 15.7% | 15.9% | — | — |
| Dividends + buybacks / free cash flow | 45.7% | 49.1% | 32.3% | 56.0% | 154.1% | 11.6% | 25.9% | 59.8% | 5.5% | 3.8% |
| Capex / revenue | 2.7% | 0.2% | 0.3% | 0.3% | 0.7% | 0.8% | 1.2% | 1.2% | 0.2% | 2.6% |
| Capex / operating cash flow | 8.7% | 0.6% | 0.9% | 1.4% | 5.2% | 1.9% | 4.2% | 5.9% | 1.0% | 11.2% |
| Capex / depreciation | 1.47 | 0.12 | 0.11 | 0.09 | 0.19 | 0.24 | 0.27 | 0.72 | 0.13 | 0.93 |
| Stock-based compensation / revenue | 13.7% | 14.0% | 15.5% | 16.1% | 11.0% | 11.5% | 15.5% | 20.3% | 23.2% | 17.8% |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 7.8% | 8.1% | 9.1% | 7.7% | 8.1% | 6.8% | 9.3% | 10.4% | 11.4% | 10.7% |
| Efficiency | ||||||||||
| Days sales outstanding | 77.2 | 71.4 | 92.0 | 108.0 | 96.1 | 79.9 | 93.4 | 79.4 | 97.6 | 95.5 |
| Days of inventory on hand | — | — | 221.7 | 295.2 | — | 297.9 | -84.2 | -533.8 | -538.5 | -282.8 |
| Days payables outstanding | 10.7 | 9.9 | 10.7 | 13.2 | 14.2 | 13.5 | 18.0 | 17.9 | 16.0 | 22.5 |
| Cash conversion cycle (days) | 66.6 | 61.5 | 303.0 | 390.0 | 81.9 | 364.3 | -8.7 | -472.2 | -456.8 | -209.8 |
| Receivables turnover | 4.73 | 5.11 | 3.97 | 3.38 | 3.80 | 4.57 | 3.91 | 4.59 | 3.74 | 3.82 |
| Payables turnover | 34.22 | 36.91 | 34.21 | 27.57 | 25.76 | 26.95 | 20.32 | 20.44 | 22.88 | 16.25 |
| Inventory turnover | — | — | 1.65 | 1.24 | — | 1.23 | — | — | — | — |
| Asset turnover | 0.97 | 0.97 | 0.93 | 1.01 | 0.92 | 0.99 | 0.88 | 0.94 | 0.87 | 0.94 |
| Average receivables | $362.6M | $292.2M | $290.6M | $303.5M | $261.2M | $230.3M | $183.7M | $126.3M | $133.6M | $130.7M |
| Average payables | $33.8M | $28.0M | $23.5M | $24.3M | $24.8M | $25.4M | $24.7M | $20.8M | $17.1M | $23.4M |
| Average inventory | — | — | $489.1M | $541.2M | — | $557.8M | −$115.8M | −$620.7M | −$577.6M | −$295.2M |
| Intangibles / total assets | 10.4% | 12.5% | 12.9% | 18.1% | 20.0% | 17.5% | 22.3% | 33.5% | 15.1% | 14.7% |
Computed from PJT's annual financial statements (latest annual report filed February 26, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
PJT valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), PJT Partners traded at 26.6 times earnings, against a 10-year median of 31.4. Based on the latest twelve months, the trailing P/E is 18.7 and the forward P/E is 16.5. PJT Partners earned a return on equity of 72.7% and a return on invested capital of 337.8% in fiscal 2025. It ended the year with $413.9 million of debt and $585.8 million in cash and short-term investments, a net cash position of $171.9 million. It returned $219.7 million to shareholders: $24.5 million in dividends and $195.2 million in share buybacks, 46% of free cash flow. The share count rose 58.9% from 18.0M to 28.6M over 9 years.
See the PJT income statement, the PJT chart for price history, or the PJT stock overview for the latest quote and news.
PJT key metrics FAQ
What is PJT Partners's P/E ratio?
PJT Partners's trailing P/E ratio is 18.7 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 16.5. At the end of fiscal 2025 it was 26.6, compared with a 10-year median of 31.4.
What is PJT Partners's EV/EBITDA?
PJT Partners's enterprise value was 11.7 times EBITDA at the end of fiscal 2025 (enterprise value $4.6 billion, EBITDA $394.1 million); the current EV/EBITDA is 8.9.
What is PJT Partners's return on equity?
PJT Partners's return on equity (ROE) was 72.7% in fiscal 2025: net income of $180.1 million on average shareholders' equity of $247.6 million.
What is PJT Partners's ROIC?
PJT Partners's return on invested capital was 337.8% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does PJT Partners have?
PJT Partners had total debt of $413.9 million at the end of fiscal 2025, a debt-to-equity ratio of 1.34 and more cash than debt.
What is PJT Partners's dividend yield?
PJT Partners's forward dividend yield is 0.44%. PJT Partners paid $24.5 million in dividends in fiscal 2025 ($0.86 per share), a payout ratio of 13.6%.
Does PJT Partners buy back its shares?
Yes. PJT Partners spent $195.2 million on net share repurchases in fiscal 2025 Shares outstanding changed −35.1% over the year, to 28.6M..
What is PJT Partners's free cash flow yield?
PJT Partners generated $480.4 million of free cash flow in fiscal 2025, a free cash flow yield of 10.0% on its market value at year-end ($4.8 billion).
What is PJT Partners's current ratio?
PJT Partners's current ratio was 27.67 at the end of fiscal 2025: current assets were 27.67 times current liabilities.