PJT Partners Inc (PJT) Fair Value & Analysis
Financial Services · US · Market cap $6.8B · ISIN US69343T1079
What is PJT Partners Inc really worth?
PJT Partners Inc
PJT · US
A solid business, but trading 22% above our fair value of $152.79.
Strengths
Risks
For context
Fair value as of: Sep 1, 2026
From 13 valuation models · updated 4 days ago
Share price +8.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The model range is unusually wide ($68.00 to $290.16). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 1, 2026.
How to read this chart
60‑month range $52.87 – $190.79 · fair‑value band $68.00 – $290.16 · the $185.82 price screens above the $152.79 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 1, 2026.
Analysis
PJT Partners Inc (PJT) currently trades at $185.82, while our model-based Fair Value estimate is $152.79, implying the stock looks roughly 21.6% overvalued today. The Quality Score stands at 69/100 (solid quality), in the Financial Services sector. Bull case: the Growth DCF group reads highest at a median of $253.39 per share, and 5 of the 13 models we run sit above the $185.82 price. Bear case: the Multiples group reads lowest at $16.71, and 8 of the 13 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, PJT Partners Inc generated revenue of $1.8B at a net margin of 10.3%. Revenue grew 28.9% year over year. It earns a return on equity of 37.0%. The balance sheet holds a net cash position of $125M. Fundamentals as of Sep 1, 2026
Our scenario range runs from $68.00 (bear case) to $290.16 (bull case); at $185.82, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 5% below its 52-week high and 46% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −37% fair-value upside, at −18%, PJT screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $4.22 per share, which is 2.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 13 models by family
Widest divergence: Growth DCF ($253.39) versus Asset-Based ($8.00). Highest evidence: Growth DCF (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 1, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 76 · Market factors (momentum, volatility) 62
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
PJT Partners Inc., an investment bank, provides various strategic advisory, shareholder advisory, capital markets advisory, and restructuring and special situations services to corporations, financial sponsors, institutional investors, and governments worldwide.
Full company description
PJT Partners Inc., an investment bank, provides various strategic advisory, shareholder advisory, capital markets advisory, and restructuring and special situations services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures. The company also provides advisory services for private and public company boards and management teams on strategies for building productive investor relationships with a focus on shareholder engagement; complex investor matters; and other critical strategic, governance, and shareholder matters. In addition, it offers advisory services related to debt and equity markets, including debt financings, acquisition financings, structured product offerings, public equity raises initial public offerings, private capital raises, general partner advisory, and other capital structure related matters. Further, the company provides geopolitical and policy advisory practice that assists corporate boards and management teams with navigating changing geopolitical relationships. Additionally, it offers advisory services in the areas of liability management, and restructurings and special situations comprising bespoke financing, tort liability resolutions, distressed M&A, and chapter 11 matters, as well as to corporate clients, financial sponsors, and creditors. The company also provides private fund advisory and fundraising services for a range of investment strategies; and advisory services to general and limited partners on liquidity and other structured solutions. The company was formerly known as Blackstone Advisory Inc. and changed its name to PJT Partners Inc. in March 2015. PJT Partners Inc. was incorporated in 2014 and is headquartered in New York, New York.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
PJT Partners Inc reported revenue of $1.7B in FY2025 versus $992M in FY2021, a compound +14.6%/yr. Reported net income was $180M in FY2025, compounding +14.1%/yr from FY2021.
of which total revenue +14.4 % · buybacks/dilution −6.2 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
PJT screens 22% overvalued. Compare with Morgan Stanley, a financial holding company, →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- PJT Partners (PJT) Stock Looks Below Fair Value On Current Estimates
- Investment Banking & Brokerage Stocks Q2 In Review: PJT (NYSE:PJT) Vs Peers
- 3 Reasons Why Growth Investors Shouldn't Overlook PJT Partners (PJT)
Peer Group
Capital Markets · 453 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Capital Markets median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Sep 1, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Morgan Stanley, a financial holding company, MS | $214.77 | $138.97 | −35% |
| The Goldman Sachs Group GS | $1,034 | $756.89 | −27% |
| The Charles Schwab Corporation SCHW | $110.16 | $66.17 | −40% |
| Robinhood Markets, Inc HOOD | $104.26 | $30.94 | −70% |
| Macquarie Group MQG | A$251.87 | A$75.58 | −70% |
| CITIC Securities Company 600030 | ¥27.93 | ¥17.68 | −37% |
| Guotai Haitong Securities Co 601211 | ¥17.87 | ¥18.62 | +4% |
| East Money Information Co 300059 | ¥19.42 | ¥4.77 | −75% |
| CSC Financial Co 601066 | ¥25.78 | ¥14.17 | −45% |
| Huatai Securities Co 601688 | ¥19.56 | ¥19.26 | −2% |
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