PJT Partners Reports 13% Revenue Growth to $406.9 Million in Q2 2025

PJT Partners Inc. reported a total revenue of $406.9 million for the second quarter of 2025, marking a 13% increase from $360.2 million in the same period last year. The rise in revenue was primarily driven by a significant increase in advisory fees, which reached $354.5 million, up from $307.1 million in the prior year. This increase reflects a growing demand for strategic advisory services. However, placement fees saw a decline, totaling $43.2 million compared to $46.9 million in the previous year, attributed to a decrease in fund placement revenues. For the first half of 2025, total revenues amounted to $731.4 million, a 6% increase from $689.6 million in the first half of 2024.

In terms of profitability, PJT Partners reported a net income of $61.4 million for the second quarter, up 16% from $53.0 million in the same quarter of 2024. The net income attributable to PJT Partners Inc. was $32.9 million, reflecting a 16% increase from $28.3 million year-over-year. For the first six months of 2025, net income reached $135.6 million, compared to $106.4 million in the same period last year. The company’s effective tax rate for the second quarter was 19.7%, up from 17.7% in the prior year, influenced by various tax obligations.

PJT Partners also experienced changes in its operational metrics. The total number of clients increased to 233 in the second quarter of 2025, up from 236 in the same quarter of 2024. The company reported a total of 72 fees of at least $1 million from client transactions, slightly up from 70 in the previous year. The firm continues to expand its geographic footprint, with revenues from the United Kingdom rising significantly to $46.2 million from $27.3 million year-over-year, while revenues from other international markets also increased.

The company’s total assets decreased to $1.51 billion as of June 30, 2025, down from $1.64 billion at the end of 2024. This decline was primarily due to a reduction in cash and cash equivalents, which fell to $214.6 million from $483.9 million. Total liabilities also decreased to $662.8 million from $733.7 million, largely due to a reduction in accrued compensation and benefits. PJT Partners continues to manage its capital effectively, with a focus on maintaining liquidity and operational flexibility.

Looking ahead, PJT Partners anticipates continued growth in advisory services, driven by favorable market conditions and an increase in M&A activity. However, the company acknowledges the potential impact of macroeconomic factors on its performance, including inflation and geopolitical uncertainties. The firm remains committed to its strategic initiatives, including a $500 million share repurchase program, which reflects its confidence in long-term growth prospects.