Short answer
Perella Weinberg Partners (PWP) filed its fiscal 2025 10-K annual report with the SEC on Feb 27, 2026. It reported revenue of $751M (−14.5% year over year) and net income of $35M.
- Top risk flagged: Regulatory risk: Compliance with multiple jurisdictional regulatory capital requirements (US, UK, Canada, France) may restrict fund flows among affiliates
FY2025 key financial metrics · XBRL
- Revenue
- $751M
- −14.5% YoY
- Net income
- $35M
- +154.8% YoY
- Operating margin
- 6.4%
- +15.3 pp YoY
- EPS (diluted)
- $0.47
- +138.5% YoY
- ROE
- -27.9%
- −43.2 pp YoY
- Operating cash flow
- $35M
- −84.4% YoY
Source: XBRL data from the Perella Weinberg Partners (PWP) FY2025 10-K on SEC EDGAR. USD.
Perella Weinberg Partners FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Global independent advisory firm providing strategic, financial advice, M&A, restructuring, capital markets, and private funds advisory
- Emphasis on ESG leadership with formal board oversight on Environmental, Social, and Governance initiatives this year
- Strategic focus on expanding advisory business depth and breadth via talent acquisition and geographic market growth
- Employee count increased to 736 as of December 31, 2025, including 549 advisory professionals and 75 advisory partners
- Operating income $48.0 million in 2025 vs operating losses in prior years, reflecting amortization completion of equity-based awards
Management Discussion & Analysis
- No forward-looking management outlook or guidance mentioned
Risk Factors
- Regulatory risk: Compliance with multiple jurisdictional regulatory capital requirements (US, UK, Canada, France) may restrict fund flows among affiliates
- Macroeconomic risk: Revenues down 14% YoY to $750.9M in 2025 due to fewer/smaller M&A transactions amid adverse market conditions
- Operational risk: Revenue timing unpredictable because advisory fees depend on transaction completion requiring regulatory/board approvals and court approvals in restructurings
- Competitive risk: Client losses due to competition from other financial services firms and client management changes, with total advisory clients down 34 to 187 in 2025
- Financial risk: $93.5M due under tax receivable agreement, representing significant contingent liability from business combination and unit exchanges
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