Partners Group Holding AG (CH:PGHN)
:PGHN
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Partners Group Holding AG
(PGHN)
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Rating:79Outperform
Price Target:
CHF780.00
▼(-17.83% Downside)
Action:Reiterated
Date:04/09/26
The score is driven primarily by strong financial performance (high margins and solid cash generation) and favorable valuation (low P/E and high dividend yield). These positives are partially offset by weaker technicals, with the stock still below key longer-term moving averages and negative MACD indicating broader bearish momentum.
Positive Factors
High profitability and ROE
Exceptionally high margins and ROE reflect durable fee-based economics and operating leverage across private markets activities. Persistent profitability supports reinvestment, client servicing and distributions, indicating strong long-term earnings power independent of short-term market swings.
Negative Factors
Rising leverage
A material increase in leverage reduces balance-sheet flexibility for co-investments, bolt-ons or managing stress scenarios. Higher debt amplifies refinancing and interest-rate risks, constraining strategic optionality and potentially raising funding costs during market dislocations.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and ROE
Exceptionally high margins and ROE reflect durable fee-based economics and operating leverage across private markets activities. Persistent profitability supports reinvestment, client servicing and distributions, indicating strong long-term earnings power independent of short-term market swings.
Read all positive factors
Partners Group Holding AG (PGHN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF18.12B
Dividend Yield4.3%
Average Volume (3M)51.21K
Price to Earnings (P/E)14.4
Beta (1Y)1.17
Revenue Growth18.00%
EPS Growth12.05%
CountryCH
Employees1,775
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)48.58
Shares Outstanding26,700,000
10 Day Avg. Volume57,031
30 Day Avg. Volume51,214
Financial Highlights & Ratios
PEG Ratio1.68
Price to Book (P/B)11.64
Price to Sales (P/S)9.08
P/FCF Ratio17.42
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF995.00Price Target Upside4.83% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)46
Revenue Forecast (FY)CHF2.53B
Partners Group Holding AG Business Overview & Revenue Model
Company Description
Partners Group Holding AG is a leading global investment manager concentrating its efforts in the private markets. The firm actively engages in direct investments, acquiring existing stakes (secondaries), and making primary commitments to new fund...
How the Company Makes Money
Partners Group primarily makes money by earning management fees for managing client assets and performance-based fees when investment returns exceed agreed hurdles or benchmarks. Its core revenue streams typically include: (1) recurring management...
Partners Group Holding AG Earnings Call Summary
Earnings Call Date:Sep 02, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Sep 01, 2026
Earnings Call Sentiment Positive
The earnings call presented a generally positive outlook with strong financial performance and strategic market expansions. However, the company is facing some headwinds due to supply chain disruptions and regulatory challenges, which are being actively addressed.Positive Updates
Strong Financial Performance
The company reported a robust financial performance for Fiscal Year 2025, Period 2, with significant revenue growth compared to the previous period. The strategic initiatives implemented have resulted in a substantial increase in profitability.
Negative Updates
Supply Chain Disruptions
The company faced challenges due to ongoing supply chain disruptions, which have impacted some operational efficiencies and led to increased costs in certain segments.
Read all updates
Q2-2025 Updates
Positive
Negative
Strong Financial Performance
The company reported a robust financial performance for Fiscal Year 2025, Period 2, with significant revenue growth compared to the previous period. The strategic initiatives implemented have resulted in a substantial increase in profitability.
Read all positive updates
Company Guidance
During the call, several key metrics were highlighted, providing guidance for the company's outlook in Fiscal Year 2025, Period 2. The management discussed anticipated revenue growth rates, targeted profit margins, and projected capital expenditures. They emphasized a focus on improving operational efficiency, with specific targets set for reducing overhead costs by a certain percentage. Additionally, the team outlined expected market expansion strategies, including penetrating new geographical regions and increasing market share in existing territories. These metrics and strategic initiatives aim to drive robust financial performance and shareholder value throughout the fiscal period.Partners Group Holding AG Financial Statement Overview
Summary
Income Statement
90
Very Positive
Balance Sheet
74
Positive
Cash Flow
86
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.80B | 2.12B | 1.94B | 1.87B | 2.62B |
| Gross Profit | 2.42B | 1.46B | 1.34B | 1.27B | 1.76B |
| EBITDA | 1.65B | 1.32B | 1.20B | 1.14B | 1.66B |
| Net Income | 1.26B | 1.13B | 1.00B | 1.00B | 1.46B |
Balance Sheet | |||||
| Total Assets | 6.39B | 5.68B | 4.80B | 4.58B | 4.83B |
| Cash, Cash Equivalents and Short-Term Investments | 328.80M | 288.90M | 281.00M | 779.50M | 910.70M |
| Total Debt | 2.49B | 2.14B | 1.48B | 1.15B | 859.90M |
| Total Liabilities | 4.20B | 3.27B | 2.38B | 2.16B | 1.93B |
| Stockholders Equity | 2.19B | 2.41B | 2.43B | 2.42B | 2.90B |
Cash Flow | |||||
| Free Cash Flow | 1.46B | 792.80M | 534.40M | 968.80M | 639.70M |
| Operating Cash Flow | 1.47B | 933.90M | 643.10M | 1.06B | 695.90M |
| Investing Cash Flow | -395.70M | -279.00M | -450.80M | -74.10M | -24.60M |
| Financing Cash Flow | -1.02B | -653.10M | -676.70M | -1.15B | -969.30M |
Partners Group Holding AG Technical Analysis
Negative
949.20
Price Trends
809.00
Negative
827.86
Negative
890.85
Negative
Market Momentum
-35.90
Positive
28.42
Positive
33.99
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:PGHN, the sentiment is Negative. The current price of 949.2 is above the 20-day moving average (MA) of 750.69, above the 50-day MA of 809.00, and above the 200-day MA of 890.85, indicating a bearish trend. The MACD of -35.90 indicates Positive momentum. The RSI at 28.42 is Positive, neither overbought nor oversold. The STOCH value of 33.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CH:PGHN.
Partners Group Holding AG Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | CHF18.12B | 14.38 | ― | 4.30% | 18.00% | 12.05% | |
66 Neutral | CHF3.99B | 17.95 | 11.11% | 4.66% | 1.34% | 5.31% | |
64 Neutral | CHF5.06B | 23.35 | 9.10% | 3.15% | -4.31% | 2.52% | |
64 Neutral | CHF5.86B | 25.53 | 22.69% | 1.82% | 5.68% | 8.06% | |
60 Neutral | CHF13.60B | 17.82 | ― | 4.14% | -3.23% | -25.30% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
43 Neutral | CHF69.77M | -0.92 | -81.01% | ― | -51.49% | 65.36% |
* General Sector Average
CH:PGHN
Partners Group Holding AG
681.00
-258.02
-27.48%
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21.99%
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-26.32%
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20.29%
CH:VZN
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-6.67%
Partners Group Holding AG Corporate Events
Partners Group rejects liquidity freeze rumors on evergreen funds
Jun 12, 2026
Partners Group has moved to counter market speculation that it is preparing to tighten liquidity or freeze its evergreen vehicles, stating it has no intention of changing existing liquidity mechanisms. The firm said the portfolios of the two everg...
Partners Group Targets USD 1.5 Billion for Fifth Real Estate Secondaries Program
Jun 11, 2026
Partners Group, a major global private markets manager, is targeting USD 1.5 billion for its fifth real estate secondaries program, following a first close that secured more than USD 650 million in commitments. The program spans a closed-end fund ...
Partners Group Flags Evergreen Fund Outflows But Reaffirms 2026 Growth Targets
Jun 4, 2026
Partners Group, one of the largest players in global private markets, manages over USD 185 billion across private equity, private credit, infrastructure, real estate, royalties, and special opportunities. The firm, rooted in Switzerland with a maj...
Partners Group Unveils Income-Focused Total Return Private Equity Strategy
May 21, 2026
Partners Group has launched a new Total Return Strategy, a control private equity approach targeting lower-leverage, income-generating investments that combine recurring cash distributions with long-term equity appreciation. The strategy aims at m...
Partners Group shareholders back all proposals at 2026 AGM and approve CHF 46 dividend
May 20, 2026
Partners Group Holding AG, a major global private markets manager headquartered in Switzerland, offers investment programs and bespoke mandates across private equity, private credit, infrastructure, real estate, royalties, and special opportunitie...
Partners Group Rebuts Short-Seller Valuation Claims and Weighs Legal Action
Apr 30, 2026
Partners Group has forcefully rejected a critical report from short-selling hedge fund Grizzly Reports that questioned its valuation practices and business exposures. The firm called the publication frivolous, defamatory, and highly misleading, an...
Partners Group backs North Star fleet expansion as offshore wind demand surges
Apr 29, 2026
Partners Group has injected additional equity into its UK portfolio company North Star to fund the purchase of four Service Operation Vessels from Edda Wind, lifting North Star’s SOV fleet to 14, among the largest in Europe. The Aberdeen-hea...
Partners Group Raises Over USD 9 Billion for Eighth Private Equity Secondaries Program
Apr 17, 2026
Partners Group, a leading global private markets manager with USD 86 billion in private equity assets under management, has closed its eighth private equity secondaries program at over USD 9 billion in total client commitments. The program, which ...
Partners Group posts strong Q1 fundraising and reaffirms 2026 guidance
Apr 10, 2026
Partners Group reported solid fundraising momentum in the first quarter of 2026, securing USD 8.3 billion in new client commitments across mandates, evergreen funds, and traditional programs, with institutional investors accounting for more than 8...
Partners Group Strengthens Health & Life Private Equity Arm With Senior Co-Head Hire
Apr 1, 2026
Partners Group, a leading global private markets firm with substantial exposure to healthcare and life sciences, has expanded its sector-specialist leadership as part of a strategy to deepen thematic investing. The company’s Health Life ver...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.