PJT Partners Inc. reported significant financial growth for the fiscal year ending December 31, 2024, with total revenues reaching $1.493 billion, a 29% increase from $1.153 billion in 2023. The rise in revenue was primarily driven by a substantial increase in advisory fees, which amounted to $1.314 billion, up from $1.027 billion the previous year, reflecting a 28% growth. Placement fees also saw a notable increase, rising to $146.3 million from $102.6 million, while interest income and other revenues grew to $32.9 million, up from $23.9 million. The company's net income attributable to PJT Partners Inc. was $134.4 million, a 64% increase compared to $81.8 million in 2023.
The company experienced a 25% increase in total expenses, which rose to $1.223 billion from $976 million in the prior year. The increase in expenses was largely attributed to higher compensation and benefits costs, which totaled $1.032 billion, reflecting the company's investment in talent to support its growth strategy. Other expense categories, including occupancy and travel, also contributed to the overall rise in costs. Despite the increase in expenses, PJT Partners achieved a net income margin of approximately 16.0%, up from 12.6% in 2023.
PJT Partners continued to expand its operational footprint, ending the year with 420 clients, an increase from 381 in 2023. The number of clients generating fees of at least $1 million also rose to 230, up from 198 the previous year. The company’s strategic advisory and restructuring services remained strong, with the firm being recognized as a leader in global restructuring and special situations, further solidifying its market position. The firm also reported a headcount of 1,143 employees, including 119 partners, reflecting its commitment to attracting top talent.
Looking ahead, PJT Partners expressed optimism about its growth trajectory, citing favorable market conditions for advisory services and a strong demand for restructuring and special situations expertise. The company plans to leverage its integrated business model to enhance client relationships and expand its service offerings. Additionally, PJT Partners has authorized a $500 million share repurchase program, indicating confidence in its financial position and commitment to returning value to shareholders. The firm remains focused on navigating the evolving economic landscape while capitalizing on growth opportunities in the advisory sector.
About PJT Partners Inc.
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