Filing Flows › PJT Partners (PJT) › How it makes money
How PJT Partners (PJT) makes money
PJT Partners (PJT) made $385M of revenue in the third quarter 2026 (Q3 2026), -14% from a year earlier. Of every dollar of revenue, 18¢ was left as operating profit, 8¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $385M | 100.0% |
| Operating profit | $68.8M | 17.9% |
| Income tax | $12.8M | 3.3% |
| Net earnings | $31.8M | 8.3% |
| Operating cash flow | $276M | 71.6% |
| Free cash flow | $267M | 69.3% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $385M | -14% |
| Q2 2026 | $486M | +20% |
| Q1 2026 | $418M | +29% |
| Q4 2025 | $535M | +12% |
| Q3 2025 | $447M | +37% |
| Q2 2025 | $407M | +13% |
| Q1 2025 | $325M | -2% |
From PJT Partners' 10-Q filed Nov 5, 2026 (on EDGAR).
Questions
How does PJT Partners make money?
PJT Partners (PJT) made $385M of revenue in the third quarter 2026 (Q3 2026), -14% from a year earlier. Of every dollar of revenue, 18¢ was left as operating profit, 8¢ was left as net earnings.
What is PJT Partners' profit margin?
Net earnings were $31.8M, 8.3% of revenue, in the third quarter 2026; the operating margin was 17.9%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.