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Perella Weinberg Partners (PWP) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 30, 2026 · Perella Weinberg Partners (PWP) Q3 2026 earnings results →

Q3 2026 Revenue up 53% year over year to $251M · 7¢ of every $1 of revenue kept as net profit · operating margin 13.9%

Perella Weinberg Partners made $251M in Q3 2026 (+53% Y/Y). Operating margin 13.9%, net earnings $17.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.

Revenue$251M
Year over year+53%
Operating margin13.9%
Net earnings$17.6M
Operating cash flow$73.1M

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 $251.4M in Q3 2026, up 53% year over year and up 61% from the previous quarter.

Operating profit was $34.9M, a 13.9% margin (up 8.5 points year over year). Of the extra revenue versus Q3 2025, 30% reached operating profit, above the 5% margin then. Total costs grew 39% against revenue growth of 53%. The fastest-growing cost line was Other operating costs (+40%). Net earnings were $17.6M, up 192% year over year. The effective tax rate was 33.8%.

Operating cash flow was $73.1M (up 24% year over year), 314% of net income including minority interests. Non-cash charges added back $6.6M of depreciation and amortization and $29.2M of share-based compensation. Working capital and other items added $13.9M. Capital expenditures of $2.1M left free cash flow of $71.0M.

Quarterly history

Perella Weinberg Partners revenue by quarterPerella Weinberg Partners revenue by quarter$212MQ1 2025$155MQ2 2025$165MQ3 2025$219MQ4 2025$149MQ1 2026$157MQ2 2026$251MQ3 2026
Perella Weinberg Partners net earnings by quarterPerella Weinberg Partners net earnings by quarter$17.3MQ1 2025$2.7MQ2 2025$6.0MQ3 2025$9.4MQ4 2025−$745KQ1 2026$5.3MQ2 2026$17.6MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 30, 2026$251M+53%13.9%$17.6M$73.1M
Q2 202610-QJul 31, 2026$157M+0.8%3.2%$5.3M$48.8M
Q1 202610-QMay 1, 2026$149M-30%-8.7%−$745K−$110M
Q4 202510-KFeb 27, 2026$219M-3%8.5%$9.4M$96.0M
Q3 202510-QNov 7, 2025$165M-41%5.4%$6.0M$59.2M
Q2 202510-QAug 1, 2025$155M-43%5.8%$2.7M$56.1M
Q1 202510-QMay 2, 2025$212M+107%5.5%$17.3M−$177M

Charts

Perella Weinberg Partners: revenue growth, year over year and quarter over quarterPerella Weinberg Partners: revenue growth, year over year and quarter over quarterY/YQ/Q+107%Q1 2025-43%-27%Q2 2025-41%+6%Q3 2025-3%+33%Q4 2025-30%-32%Q1 2026+1%+5%Q2 2026+53%+61%Q3 2026
Latest (Q3 2026): Y/Y +53%, Q/Q +61%.
Perella Weinberg Partners: where the cash came from (+) and went (−), TTM to Q3 2026Perella Weinberg Partners: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$108MTaxes on employees’ shares−$61.2MAcquisitions−$36.8MCash drawn (+) / kept (−)$35.7MDividends−$27.4MCapital spending−$6.8MOther financing−$6.1MExchange rates−$3.6MBuybacks−$2.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Perella Weinberg Partners: profit against cash, quarter by quarterPerella Weinberg Partners: profit against cash, quarter by quarterNet incomeOperating cash flow$32.7M$139MQ4 2024$21.4M−$177MQ1 2025$4.3M$56.1MQ2 2025$8.6M$59.2MQ3 2025$13.8M$96.0MQ4 2025−$745K−$110MQ1 2026$6.3M$48.8MQ2 2026$23.3M$73.1MQ3 2026
Latest (Q3 2026): Net income $23.3M, Operating cash flow $73.1M.
Perella Weinberg Partners: diluted shares by fiscal year (split-adjusted)Perella Weinberg Partners: diluted shares by fiscal year (split-adjusted)185MFY2021180MFY2022174MFY2023106MFY2024101MFY2025
-45.6% since FY2021: buybacks shrank the count; earlier years scaled for the 2-for-1 split before FY2025.
Perella Weinberg Partners in its industry: growth against margin (84 companies, SIC 6199)Perella Weinberg Partners in its industry: growth against margin (84 companies, SIC 6199)revenue growth, year over year →↑ operating marginmedian +17%median -17%AXPBTGOGeneral Motors Financial Company, Inc.SOFICOINCRCLCHYMGDOTBKKTRHLDPGYUPSTLDIWDOPRTCORZIRENDAVERIOTMARABURCPSSMSTRVELOPFIWLTHCLSKSNFCAHIVEWULFProsper Marketplace, IncHUTABTCMFINGPGIIONDBMNRBCGGEMIStartEngine Inc.NAKABTBTWYFIKEELCIFREXODGHIMGTESLNHTONXZSTKSBETFWDIMGLDBGDEDGXXATCHFLDVIPDFDVAGPUUPXIDRKAVXHSDTBTCSPWCMORBSSHFSOPNWTRONMVNCMinistry Partners Investment Company, LLCPAPLMWAIBNBXCDSUIGFGCEMPDTAOXGSMTHSCSPWP (+53%, 14%)
Finance Services; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵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 Perella Weinberg Partners

We are a leading global independent advisory firm that provides strategic and financial advice to clients across the most active industry sectors and international markets. Our wide range of global clients include large public multinational corporations, mid-sized public and private companies, financial sponsors, individual entrepreneurs, private and institutional investors, creditor committees and government institutions. We were founded in June 2006 with the opening of offices in New York and London, led by a team of ten seasoned advisory partners who previously held senior management positions at large global investment banks.

In its own words, from its 10-K, filed Feb 27, 2026.

Perella Weinberg Partners against its Finance Services peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +53% against the peers' median +18%. Operating margin: 13.9% against the peers' median 13.9%.

CompanyQuarterRevenueY/YOp. margin
PWP Perella Weinberg PartnersQ3 2026$251M+53%13.9%
AXP American ExpressQ3 2026$20.1B+9%22.6%
BTGO Bitgo HoldingsQ2 FY27$4.3B+80%-0.4%
General Motors Financial CompanyQ3 2026$4.3B-0.6%15.3%
SOFI SoFi TechnologiesQ3 2026$1.4B+44%22.9%
COIN Coinbase GlobalQ3 2026$1.2B-35%5.1%
CRCL Circle Internet GroupQ3 2026$865M+17%24.1%
CHYM Chime FinancialQ3 2026$718M+32%4.8%
GDOT Green DOTQ2 2026$596M+18%-0.1%

Source: Perella Weinberg Partners 10-Q on SEC EDGAR · CIK 1777835 · Finance Services

Guidance and outlook

Perella Weinberg Partners: what its forward-looking statements are about (10-Q filed 2026-10-30)Perella Weinberg Partners: what its forward-looking statements are about (10-Q filed 2026-10-30)People2Other2
4 statements; tone +0.00 (−1 all cautious, +1 all confident); 0 hedged.
Perella Weinberg Partners: outlook statements against the filing beforePerella Weinberg Partners: outlook statements against the filing beforeConfident1Cautious1

13F: who owns PWP and who is buying

Largest holders of PWP (13F)Largest holders of PWP (13F)FMR LLC$158MBlackRock$87.2MWellington Management Group LLP$82.8MWilliam Blair Investment Manageme…$70.1MVanguard Group$64.4MNuveen, LLC$57.5MAdage Capital Partners GP, L.L.C.$52.9MVanguard Capital Management LLC$48.4MCapital World Investors$42.7MNomura Asset Management Internati…$40.7M
Funds' net buying of PWP by quarter (13F)Funds' net buying of PWP by quarter (13F)$1.6M2024-09$11.1M2024-12$59.5M2025-03$137M2025-06$49.5M2025-09$51.3M2025-12$102M2026-03$81.0M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on PWP

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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