PJT Partners Inc. reported significant financial growth in its latest quarterly results, with total revenues reaching $447.1 million for the three months ended September 30, 2025, a 37% increase from $326.3 million in the same period last year. The rise in revenue was primarily driven by a substantial increase in advisory fees, which amounted to $389.8 million, up from $283.8 million, reflecting a 37% year-over-year growth. For the nine months ending September 30, 2025, total revenues were $1.18 billion, marking a 16% increase compared to $1.02 billion for the same period in 2024. The company attributed this growth to heightened strategic advisory activities and increased fund placement revenues.
In terms of profitability, PJT Partners reported a net income of $74.9 million for the third quarter of 2025, an 82% increase from $41.1 million in the prior year. For the nine-month period, net income was $210.6 million, up 43% from $147.5 million in 2024. The net income attributable to PJT Partners Inc. was $39.8 million for the third quarter, compared to $22.2 million in the same quarter last year, reflecting an 80% increase. The company’s effective tax rate for the quarter was 17.6%, slightly higher than the 16.8% rate from the previous year.
PJT Partners also experienced a notable increase in expenses, which rose to $356.1 million for the third quarter, a 29% increase from $276.9 million in the same quarter of 2024. The increase was largely driven by higher compensation and benefits expenses, which totaled $303.3 million, up 34% year-over-year. The company’s total assets as of September 30, 2025, were $1.72 billion, compared to $1.64 billion at the end of 2024, with cash and cash equivalents decreasing to $400.5 million from $483.9 million.
Operationally, PJT Partners reported a total of 237 clients for the third quarter, with 68 clients generating fees of at least $1 million from transactions. The company continues to expand its geographic footprint, with significant revenue contributions from the United States, United Kingdom, and other international markets. The company’s strategic focus remains on enhancing its advisory services and expanding its market share in the financial advisory sector.
Looking ahead, PJT Partners anticipates continued growth driven by favorable market conditions for mergers and acquisitions, as well as ongoing demand for restructuring services. The company remains cautious about potential economic uncertainties that could impact its operations. PJT Partners has also authorized a $500 million share repurchase program, with $87.2 million remaining as of September 30, 2025, indicating a commitment to returning value to shareholders while maintaining a strong liquidity position.
About PJT Partners Inc.
PJT Partners Inc. is a global advisory firm providing strategic advice, restructuring, and capital markets services to leading corporations, financial sponsors, and institutions. Its core offerings include M&A, financial restructuring, and private fund advisory. Operating through integrated, client-centric teams, it leverages deep industry expertise, strong relationships, and an asset-light model to deliver high-touch, independent advice across diverse markets worldwide.
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