PJTMEDIUM SIGNALFINANCIAL10-K

PJT Partners delivered strong financial performance with 34% net income growth and significantly increased capital expenditures, while expanding share count and enhancing business descriptions.

The substantial increase in capital expenditures from $3.3M to $45.9M suggests major investments in infrastructure or technology that could drive future growth. The company's strong revenue growth of 14.8% coupled with even stronger net income growth of 34% demonstrates improving operational efficiency and market positioning.

Comparing 2026-02-26 vs 2025-02-27View on EDGAR →
FINANCIAL ANALYSIS

PJT Partners showed robust financial health with revenue growing 14.8% to $1.7B and net income surging 34% to $180.1M, indicating strong operational leverage. The company maintained a solid balance sheet with stockholders' equity increasing 65% to $308.2M and cash growing 11% to $538.9M, while the dramatic 1,290% increase in capital expenditures signals significant strategic investments. Share buybacks decreased 17% to $195.2M, but the overall financial picture reflects a growing, profitable firm making substantial investments for future expansion.

FINANCIAL STATEMENT CHANGES
Capital Expenditure
Cash Flow
+1290.6%
$3.3M→$45.9M

Capital expenditure jumped 1290.6% — major investment cycle underway; assess returns on deployment.

Stockholders Equity
Balance Sheet
+64.8%
$187.0M→$308.2M

Equity base grew 64.8% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Net Income
P&L
+34%
$134.4M→$180.1M

Net income grew 34% — bottom-line growth signals improving overall business health.

Share Buybacks
Cash Flow
-17%
$235.1M→$195.2M

Buyback activity reduced 17% — capital being redeployed elsewhere or cash conservation underway.

Revenue
P&L
+14.8%
$1.5B→$1.7B

Revenue growing 14.8% — solid top-line momentum, watch margins for quality of growth.

Total Liabilities
Balance Sheet
+13.7%
$733.7M→$834.2M

Liabilities increased 13.7% — monitor debt-to-equity ratio and interest coverage.

Total Assets
Balance Sheet
+12.7%
$1.6B→$1.8B

Asset base grew 12.7% — expansion through organic growth, acquisitions, or capital deployment.

Cash & Equivalents
Balance Sheet
+11.4%
$483.9M→$538.9M

Cash grew 11.4% — improving liquidity position supports investment and shareholder returns.

LANGUAGE CHANGES
NEW — 2026-02-26
PRIOR — 2025-02-27
ADDED
As of February 19, 2026, there were 24,174,370 shares of Class A common stock, par value $0.01 per share, and 129 shares of Class B common stock, par value $0.01 per share, outstanding.
and the global economy and (2) our employees and our ability to provide services to our clients and respond to their needs; (e) the failure of third-party service providers to perform their functions; and (f) volatility in the political and economic environment, including but not limited to inflation, changes to global trade policies, elevated interest rates, potential government shutdowns, and geopolitical or military conflicts.
Our capital markets advisory team advises and executes public and private capital raises in the debt and equity capital markets, including debt financings, acquisition financings, structured product offerings, public equity raises including initial public offerings, private capital raises for early and later stage companies, general partner advisory and other capital structure related matters.
Restructuring and Special Situations Our Restructuring and Special Situations business is one of the world s leading global advisors in liability management, restructurings and special situations, including bespoke financings, tort liability resolutions, distressed M A and Chapter 11 matters.
We were ranked #1 in both global and United States announced restructurings in three out of the last four years by LSEG Refinitiv and were named International Financing Review Restructuring Advisor of the Year for each of the years 2020 through 2023.
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REMOVED
As of February 20, 2025, there were 23,297,894 shares of Class A common stock, par value $0.01 per share, and 123 shares of Class B common stock, par value $0.01 per share, outstanding.
and the global economy and (2) our employees and our ability to provide services to our clients and respond to their needs; (e) the failure of third-party service providers to perform their functions; and (f) volatility in the political and economic environment, including as a result of inflation, new or changes to existing tariffs, elevated interest rates, and geopolitical and military conflicts.
Our capital markets advisory team advises and executes public and private capital raises in the debt and equity capital markets, including debt financings, acquisition financings, structured product offerings, public equity raises including initial public offerings, private capital raises for early and later stage companies as well as other capital structure related matters.
Restructuring and Special Situations Our Restructuring and Special Situations business is one of the world s leading advisors in liability management, financial restructuring and reorganization, distressed M A and Chapter 11 matters.
announced deals for 2024 by LSEG and were named International Financing Review Restructuring Advisor of the Year for each of the years 2020-2023.
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