Partners Group Holding AG (PGHN) AI Stock Analysis

• Market Cap: CHF24.84B
• Dividend Yield: 4.41%
• Average Volume (3M): 51.21K
• Price to Earnings (P/E): 20.8
• Beta (1Y): 1.29
• Revenue Growth: 23.34%
• EPS Growth: 24.97%
• Country: CH
• Employees: 1,775
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 22.13
• Shares Outstanding: 26,700,000
• 10 Day Avg. Volume: 57,031
• 30 Day Avg. Volume: 51,214
• PEG Ratio: 2.33
• Price to Book (P/B): 13.24
• Price to Sales (P/S): 15.83
• P/FCF Ratio: 40.31
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: CHF1,182.00
• Price Target Upside: 24.24% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: CHF1,036.00 ▲(8.89% Upside)

Partners Group Holding AG's overall stock score reflects its strong financial performance and positive earnings call outlook, despite technical indicators suggesting bearish momentum. The company's moderate valuation and attractive dividend yield add to its appeal, though increasing debt levels and external challenges like supply chain disruptions and regulatory hurdles need careful monitoring.

Positive Factors

Revenue Growth

Steady revenue growth indicates a stable income stream, essential in the asset management industry, supporting long-term business sustainability.

Cash Generation

Strong cash generation enhances financial flexibility, allowing for reinvestment in growth opportunities and strengthening the balance sheet.

Market Expansion

Successful market expansion into emerging markets boosts revenue and diversifies income sources, reinforcing competitive positioning.

Negative Factors

Increasing Debt Levels

Rising debt levels could constrain financial flexibility and increase risk, potentially impacting long-term financial stability.

Supply Chain Disruptions

Supply chain issues can lead to increased costs and operational inefficiencies, affecting profit margins and growth prospects.

Regulatory Challenges

Regulatory hurdles can slow market expansion and increase compliance costs, potentially limiting growth and profitability.

Partners Group Holding AG Business Overview & Revenue Model

Company Description

Partners Group Holding AG is a private equity firm specializing in direct, secondary, and primary investments across private equity, private real estate, private infrastructure, and private debt. The firm also makes fund of funds investments. It seeks to invest in distressed, special situations, later stage, mature, early venture, mid venture, late venture, industry consolidation, buyouts, recapitalizations, emerging growth, and seed capital. For direct private equity investments, the firm invests directly into healthcare, consumer, media & telecommunications, education, information technology, industrials, infrastructure/energy & utilities, financial and business services and real estate operating companies. For its private real estate direct investment practice, it focuses on seeking out properties globally. It also makes investments in private real estate secondaries and primaries and focuses on distressed assets in United States, Europe, and Japan. Under private debt, the firm provides senior debt financing, mezzanine financing, alongside secondaries and primaries, and also participates in add on acquisitions. It seeks to invest in middle market in Americas, Europe, and Asia. In energy infrastructure, the firm seeks to invest in the areas of midstream, power generation, gas transportation, gas export infrastructure, renewable energy including wind and solar energy. The firm seeks to invest globally with a focus on South Africa, China, India, Philippines, Austria, France, Germany, Switzerland, Russia, Brazil, and Chile. It seems to invest between 500,000 ($685,010) and 100 million ($137 million) in equity investment in companies with enterprise value between 100 million ($137 million) to 2 billion ($2740 million). The firm is a value-add investor targeting majority and minority stake in its investee companies. While investing in funds, it invests in venture capital, mezzanine, private equity, real estate, distressed, turnaround, and secondary funds. Partners Group Holding AG was founded in 1996 and is based in Baar, Switzerland with additional offices across North America, South America, Europe, Australia, and Asia.

How the Company Makes Money

Partners Group generates revenue primarily through management fees and performance fees from its investment funds. Management fees are typically charged as a percentage of assets under management (AUM) and are earned for providing investment management services, including sourcing, structuring, and managing investments. Performance fees, often referred to as carried interest, are earned when the funds achieve returns above a predetermined threshold, incentivizing the firm to maximize investment performance. Key revenue streams also include advisory services and co-investment opportunities, where Partners Group collaborates with other investors to share risks and returns. The firm benefits from its extensive global network and strategic partnerships, which enhance its investment capabilities and access to attractive deals, ultimately contributing to its earnings.

Partners Group Holding AG Financial Statement Overview

Summary

Partners Group Holding AG displays solid financial health with strong profitability, efficient cash flow management, and a stable balance sheet. While profitability and cash flow indicators are impressive, increasing debt levels warrant close monitoring. The company is well-positioned in the asset management industry, reflecting a balance of growth and stability.

Income Statement

Partners Group Holding AG has demonstrated strong profitability with a high Gross Profit Margin of approximately 80.8% for 2024. The Net Profit Margin is also robust at around 55.8%. Revenue growth from 2023 to 2024 is approximately 3.96%, indicating steady growth in an industry where stable income is crucial. However, the absence of EBIT data in the latest report is a limitation, although EBITDA Margin is strong at approximately 71.6%.

Balance Sheet

The company's balance sheet shows a reasonable Debt-to-Equity Ratio of about 0.89, indicating moderate leverage. The Return on Equity (ROE) is strong at approximately 46.7%, reflecting efficient use of equity to generate profits. The Equity Ratio is 42.5%, showing a healthy balance of equity and total assets. The increase in total debt over recent years is a potential risk factor.

Cash Flow

The Free Cash Flow Growth Rate from 2023 to 2024 is a significant 48.33%, showcasing strong cash generation capabilities. The Operating Cash Flow to Net Income Ratio is approximately 0.83, reflecting solid cash conversion. The Free Cash Flow to Net Income Ratio is about 0.70, indicating efficient conversion of net income to cash. Overall, cash flow metrics are strong, bolstering the company's financial health.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.63B	2.02B	1.86B	1.81B	2.59B	1.38B
Gross Profit	1.35B	1.63B	1.48B	1.39B	2.18B	1.12B
EBITDA	1.17B	1.47B	1.26B	1.19B	1.77B	975.50M
Net Income	908.80M	1.13B	1.00B	1.00B	1.46B	804.80M
Balance Sheet
Total Assets	6.19B	5.68B	4.80B	4.58B	4.83B	4.03B
Cash, Cash Equivalents and Short-Term Investments	273.60M	288.90M	281.00M	779.50M	910.70M	1.23B
Total Debt	3.04B	2.14B	1.48B	1.15B	859.90M	865.80M
Total Liabilities	4.51B	3.27B	2.38B	2.16B	1.93B	1.76B
Stockholders Equity	1.68B	2.41B	2.43B	2.42B	2.90B	2.27B
Cash Flow
Free Cash Flow	448.65M	792.80M	534.40M	968.80M	639.70M	1.12B
Operating Cash Flow	516.85M	933.90M	643.10M	1.06B	695.90M	1.15B
Investing Cash Flow	-320.40M	-279.00M	-450.80M	-74.10M	-24.60M	-10.50M
Financing Cash Flow	-324.50M	-653.10M	-676.70M	-1.15B	-969.30M	-827.50M

Partners Group Holding AG Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 951.40
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:PGHN, the sentiment is Neutral. The current price of 951.4 is above the 20-day moving average (MA) of 937.13, below the 50-day MA of 967.86, and below the 200-day MA of 1067.18, indicating a neutral trend. The MACD of -4.22 indicates Negative momentum. The RSI at 50.03 is Neutral, neither overbought nor oversold. The STOCH value of 67.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CH:PGHN.

Partners Group Holding AG Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
VONN	66 Neutral	$3.31B	13.22	11.11%	4.75%	3.80%	15.49%
PGHN	66 Neutral	CHF24.84B	20.77	―	4.41%	23.34%	24.97%
BAER	66 Neutral	CHF11.00B	12.73	―	4.31%	1.02%	131.90%
EFGN	64 Neutral	$4.98B	13.65	19.05%	3.26%	-0.27%	21.41%
VZN	63 Neutral	CHF5.82B	25.65	22.69%	1.83%	8.15%	12.24%
GAM	41 Neutral	$172.02M	―	-128.43%	―	-60.15%	68.65%

Partners Group Holding AG Corporate Events

Esentia Energy Development Prices IPO on Mexican Stock Exchange

Esentia Energy Development, a portfolio company of Partners Group, has successfully priced its IPO at MXN 45 per share, listing on the Mexican Stock Exchange under the ticker ‘ESENTIA’. This marks a significant milestone as it is one of the first IPOs in Mexico with international distribution since 2018, and the largest in Latin America for 2025. Esentia, a leading operator of natural gas infrastructure in Mexico, plans to use the IPO proceeds for growth initiatives and debt repayment. The company benefits from strong demand for natural gas driven by Mexico’s rising electricity needs and a shift towards more efficient power plants. Partners Group, having invested in Esentia since 2014, has played a crucial role in transforming it into a major pipeline operator, with Esentia now transporting 16% of Mexico’s daily natural gas demand.

Partners Group Strengthens Technology Focus with Key Appointment

Partners Group has appointed Nicholas Smith Wang as Partner and Co-Head of its Private Equity Technology Vertical, a move that underscores the firm’s commitment to expanding its presence in the technology sector. With a strong track record in technology investments, Partners Group aims to capitalize on emerging opportunities in the tech landscape, enhancing its industry positioning and potentially delivering significant returns for stakeholders.

Partners Group Exits Stake in Apex Logistics with Strong Returns

Partners Group has agreed to sell its 24.9% stake in Apex Logistics to Kuehne+Nagel, valuing Apex at over USD 4 billion. This marks a complete exit from its 2021 investment, delivering strong returns for its clients. Apex, a global logistics provider headquartered in Singapore, has experienced significant growth, with a 151% increase in EBITDA over five years. The sale is part of a strategic transformation, enhancing Apex’s capabilities and expanding its global reach. The transaction underscores Partners Group’s successful collaboration with Kuehne+Nagel in driving Apex’s growth and positions Apex for continued success under Kuehne+Nagel’s ownership.

Partners Group Acquires Life Cycle Power to Boost Mobile Generation Solutions

Partners Group has announced its acquisition of Life Cycle Power (LCP), a prominent US provider of mobile power generation solutions, from Arroyo Investors. LCP operates a 897 MW fleet of mobile units, serving diverse sectors including data centers and industrial facilities, and benefits from the growing demand for AI data centers and industrial expansion. The acquisition aligns with Partners Group’s strategy to enhance grid resiliency and expand its presence in the power-as-a-service sector. The firm plans to collaborate with LCP’s management to increase fleet capacity and extend offerings to the data center sector, aiming to solidify LCP’s market-leading position.

Partners Group Expands North American Presence with Montreal Office

Partners Group is expanding its North American footprint by opening a new office in Montreal, Canada, to strengthen client relationships in Quebec, a region with substantial institutional investors. This expansion highlights the firm’s strategic focus on the Canadian market, which is increasingly important for fundraising, and aligns with the growing interest in private markets among Canadian investors, driven by generational wealth transfer.

Partners Group and CVC Partner to Propel Growth at International Schools Partnership

Partners Group and CVC Capital Partners have formed a partnership to further the growth of International Schools Partnership (ISP), a leading K-12 education platform. CVC will acquire a 20% minority stake in ISP, while Partners Group remains the majority shareholder. ISP, which educates over 110,000 students across 111 schools in 25 countries, aims to expand its platform by adding new schools and investing in technology to enhance the student experience. This partnership is expected to drive ISP’s growth strategy, focusing on high-quality education and long-term value creation for stakeholders.

Partners Group to Manage Deutsche Bank’s Evergreen Private Markets Fund

Partners Group will serve as the strategic partner and portfolio manager for Deutsche Bank’s first evergreen private markets fund, aimed at providing private clients with diversified access to private equity, credit, infrastructure, and real estate. This collaboration is expected to enhance Partners Group’s market positioning by leveraging Deutsche Bank’s reach, offering flexible investment opportunities under the ELTIF 2.0 regulation, and potentially increasing assets under management over the long term.

Partners Group and PGIM Forge Strategic Partnership for Multi-Asset Solutions

Partners Group and PGIM have formed a strategic partnership to create multi-asset portfolio solutions for individual and institutional investors. This collaboration aims to address the increasing demand for comprehensive investment strategies by leveraging PGIM’s expertise in public and private asset classes and Partners Group’s experience in private equity and infrastructure. The partnership will offer flexible investment solutions, enhancing accessibility and relevance across diverse investor segments.