PJT Partners Inc. (PJT) Q3 2025 10-Q Quarterly Report
PJT Partners Inc. (PJT) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 6, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
PJT Partners Inc. Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • No revenue or profitability figures presented in this section for YoY comparison
- • No segment or product line financial performance disclosed
- • Guarantee on employee loans $1.6M in Sept 2025, down from $2.0M in Dec 2024
- • Tax receivable agreement liability increased to $34.3M from $29.3M since Dec 2024
- • Management expects risks from guarantees and indemnifications to be insignificant, no updated guidance or headwinds mentioned
Risk Factors
- • Newly added risk: Elevated global restructuring due to liability management, balance sheet issues, and bankruptcy amid tariffs and macro uncertainties in Q3 2025
- • Materially updated risk: M&A volume up 33% YoY in Q3 2025 but transaction count declined; recovery pace of M&A markets remains unclear
- • Regulatory/legal risk: Bankruptcy engagement fees subject to court approval, adding variability to revenue from restructuring advisory services
- • Operational/market risk: Fund placement challenged by slowdown in realizations, with investors focusing on existing relationships amid flight to quality
- • Financial risk: Placement fee revenue recognizes interest based on Secured Overnight Financing Rate plus market margin, reflecting exposure to reference rate fluctuations
PJT Partners Inc. Q3 2025 Quarterly FinancialsXBRL
Revenue
$442M
▲ +38.1% YoY▲ +10.3% QoQ
Net Income
$40M
▲ +79.9% YoY▲ +21.1% QoQ
Net Margin
9.0%
▲ +209bp YoY▲ +81bp QoQ
ROE
17.4%
Total Assets
$1.7B
Operating Cash Flow
$256M
▲ +41.9% YoY▲ +34.5% QoQ
Source: XBRL data from PJT Partners Inc. Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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