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PJT Partners (PJT) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · PJT Partners (PJT) Q3 2026 earnings results →
Q3 2026 Revenue down 14% year over year to $385M · 8¢ of every $1 of revenue kept as net profit · operating margin 17.9%
PJT Partners made $385M in Q3 2026 (-14% Y/Y). Operating margin 17.9%, net earnings $31.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $385.1M in Q3 2026, down 14% year over year and down 21% from the previous quarter.
Operating profit was $68.8M, a 17.9% margin (down 2.5 points year over year). Total costs fell 11% while revenue fell 14%. Net earnings were $31.8M, down 20% year over year. The effective tax rate was 18.6%.
Operating cash flow was $275.7M (up 8% year over year), 492% of net income including minority interests. Non-cash charges added back $4.2M of depreciation and amortization and $52.0M of share-based compensation. Working capital and other items added $163.5M. Capital expenditures of $8.7M left free cash flow of $267.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $385M | -14% | 17.9% | $31.8M | $276M |
| Q2 2026 | 10-Q | Jul 30, 2026 | $486M | +20% | 21.0% | $45.8M | $237M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $418M | +29% | 19.2% | $60.5M | $64.3M |
| Q4 2025 | 10-K | Feb 26, 2026 | $535M | +12% | 23.0% | $53.4M | $156M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $447M | +37% | 20.3% | $39.8M | $256M |
| Q2 2025 | 10-Q | Jul 31, 2025 | $407M | +13% | 18.8% | $32.9M | $190M |
| Q1 2025 | 10-Q | May 1, 2025 | $325M | -2% | 16.2% | $54.0M | −$75.9M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About PJT Partners
PJT Partners is a premier, global, advisory-focused investment bank that was built from the ground up to be different. Our highly experienced, collaborative teams provide independent advice coupled with old-world, high-touch client service. This ethos has allowed us to attract some of the very best talent in the markets in which we operate. We deliver leading advice to many of the world's most consequential companies, effect some of the most transformative transactions and restructurings and raise billions of dollars of capital around the globe to support startups and more established companies. PJT Partners began trading on the New York Stock Exchange (“NYSE”) under the symbol “PJT” on October 1, 2015.
In its own words, from its 10-K, filed Feb 26, 2026.
PJT Partners against its Investment Advice peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -14% against the peers' median +6%. Operating margin: 17.9% against the peers' median 24.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| PJT PJT Partners | Q3 2026 | $385M | -14% | 17.9% |
| KKR KKR | Q2 2026 | $5.7B | +12% | 24.0% |
| AMP Ameriprise Financial | Q3 2026 | $5.2B | +6% | 28.9% |
| APO Apollo Global Management | Q3 2026 | $4.7B | -52% | -30.9% |
| BX Blackstone | Q3 2026 | $3.1B | -0.8% | 46.9% |
| BEN Franklin Templeton | Q4 FY26 | $2.4B | +4% | 14.6% |
| TROW Price T Rowe Group | Q3 2026 | $2.0B | +6% | 38.4% |
| IVZ Invesco | Q3 2026 | $1.9B | +14% | 23.3% |
| BAM Brookfield Asset Management | Q2 2026 | $1.8B | +61% | 62.4% |
Source: PJT Partners 10-Q on SEC EDGAR · CIK 1626115 · Investment Advice
Guidance and outlook
13F: who owns PJT and who is buying
More on PJT
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results