Perella Weinberg Partners (PWP)
NASDAQ:PWP
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Perella Weinberg Partners
(NASDAQ:PWP)
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Rating:50Neutral
Price Target:
$16.00
▼(-9.35% Downside)
Action:ReiteratedDate:02/28/26
PWP scores neutral overall, driven mainly by uneven financial performance—improving profitability and positive cash flow, but tempered by revenue volatility and negative equity. Weak technical momentum (below key moving averages with negative MACD) further weighs on the score. Valuation offers limited support given a higher P/E, partially offset by a modest dividend, while earnings-call commentary is a positive offset due to strong pipeline/backlog and continued cost discipline.
Positive Factors
Record pipeline and backlog
A record pipeline and announced/pending backlog increases revenue visibility over coming quarters and provides a structural source of deal flow. As mandates convert this backlog can reduce top-line volatility and support improving utilization and margin leverage as scale returns.
Negative Factors
Negative equity
Persistent negative equity limits conventional measures of financial resilience and constrains strategic flexibility. It can complicate capital-raising, acquisition financing, and regulatory perceptions, leaving the firm more reliant on cash buffers and operational performance to restore balance-sheet health.
Read all positive and negative factors
Positive Factors
Negative Factors
Record pipeline and backlog
A record pipeline and announced/pending backlog increases revenue visibility over coming quarters and provides a structural source of deal flow. As mandates convert this backlog can reduce top-line volatility and support improving utilization and margin leverage as scale returns.
Read all positive factors
Perella Weinberg Partners (PWP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.62B
Dividend Yield1.62%
Average Volume (3M)862.80K
Price to Earnings (P/E)31.3
Beta (1Y)1.48
Revenue Growth-12.44%
EPS GrowthN/A
CountryUS
Employees700
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.17
Shares Outstanding69,652,084
10 Day Avg. Volume834,478
30 Day Avg. Volume862,798
Financial Highlights & Ratios
PEG Ratio-0.22
Price to Book (P/B)-8.72
Price to Sales (P/S)1.48
P/FCF Ratio36.45
Enterprise Value/Market Cap1.06
Enterprise Value/Revenue2.29
Enterprise Value/Gross Profit2.35
Enterprise Value/Ebitda23.80
Forecast
1Y Price Target
$20.83Price Target Upside18.02% Upside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)1.28
Revenue Forecast (FY)$980.45M
Perella Weinberg Partners Business Overview & Revenue Model
Company Description
Perella Weinberg Partners, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advice services related to mission-critical strategic and financial...
How the Company Makes Money
PWP primarily makes money by earning advisory fees for delivering transaction and strategic advice. Key revenue streams include: (1) M&A advisory fees: The firm earns fees when advising buyers, sellers, or merger partners on negotiated transaction...
Perella Weinberg Partners Key Performance Indicators (KPIs)
Any
Remaining Performance Obligations
Indicates the value of contracted work yet to be completed, offering insight into future revenue streams and the company's workload capacity.
Indicates the value of contracted work yet to be completed, offering insight into future revenue streams and the company's workload capacity.
Data provided by:
The Fly
The FlyPerella Weinberg Partners Earnings Call Summary
Earnings Call Date:Feb 06, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The call conveyed a cautiously optimistic tone: although full-year revenue fell 14% and the compensation margin ticked up, the firm posted multiple area records (Europe, restructuring, financing), showed disciplined non-comp expense control, integrated the Devon Park acquisition successfully, returned significant capital to shareholders, and entered 2026 with a record pipeline and strong backlog. The negatives (missed large deals and a higher comp ratio) are material but framed as temporary and addressable as pipeline converts.Positive Updates
Solid Revenue Base Despite YoY Decline
Full-year 2025 revenues were $751 million and fourth-quarter revenues were $219 million. While revenue was down 14% from 2024's record results, 2025 was the third-highest revenue year in the firm's 20-year history.
Negative Updates
Year-Over-Year Revenue Decline and Missed Large Transactions
Full-year revenues declined 14% vs. 2024. Management noted several large transactions they advised on did not complete as expected, which materially contributed to falling short of revenue ambitions for 2025.
Read all updates
Q4-2025 Updates
Positive
Negative
Solid Revenue Base Despite YoY Decline
Full-year 2025 revenues were $751 million and fourth-quarter revenues were $219 million. While revenue was down 14% from 2024's record results, 2025 was the third-highest revenue year in the firm's 20-year history.
Read all positive updates
Company Guidance
Management's guidance for 2026 emphasized cost discipline, capital returns, and revenue momentum: they expect adjusted non‑compensation expense to decline a further single‑digit percent (with certain nonrecurring items now behind them), will start Q1 with a 67% comp accrual (FY2025 adjusted compensation margin was 68% vs 67% in 2024), and declared a quarterly dividend of $0.07 per share; balance‑sheet and capital actions remain priorities after returning over $163 million to equity in 2025 (including retiring 6.5 million shares), finishing the year with $256 million of cash, no debt, 67 million Class A shares and 22 million partnership units outstanding, while emphasizing record‑high gross pipeline and a strong, building announced/pending backlog, continued investment in talent (23 senior additions in 2025, 14 new to the platform, plus two partners added in early 2026) and an intent to flex compensation leverage as scale and revenues recover from FY2025 revenue of $751 million (Q4 revenue $219 million, which included $18.5 million recorded for early‑2026 closings).Perella Weinberg Partners Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
28
Negative
Cash Flow
63
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 750.90M | 878.04M | 648.65M | 631.51M | 801.66M |
| Gross Profit | 730.07M | 352.10M | 222.08M | 240.17M | 297.30M |
| EBITDA | 72.35M | -58.15M | -100.42M | -37.04M | 45.05M |
| Net Income | 35.48M | -64.73M | -17.22M | 17.88M | -9.42M |
Balance Sheet | |||||
| Total Assets | 797.64M | 876.75M | 761.11M | 717.09M | 718.33M |
| Cash, Cash Equivalents and Short-Term Investments | 255.91M | 408.60M | 341.28M | 314.28M | 504.77M |
| Total Debt | 353.66M | 187.35M | 175.90M | 165.60M | 43.45M |
| Total Liabilities | 536.90M | 646.99M | 492.86M | 456.95M | 446.98M |
| Stockholders Equity | -127.36M | -421.38M | 152.66M | 137.46M | 126.32M |
Cash Flow | |||||
| Free Cash Flow | 30.48M | 206.98M | 88.28M | -44.33M | 233.45M |
| Operating Cash Flow | 34.79M | 223.36M | 145.88M | -17.77M | 234.91M |
| Investing Cash Flow | 51.74M | -98.00K | -5.82M | -166.23M | -2.44M |
| Financing Cash Flow | -168.57M | -137.25M | -67.02M | -136.77M | -55.02M |
Perella Weinberg Partners Technical Analysis
Negative
17.65
Price Trends
19.51
Negative
18.95
Negative
19.72
Negative
Market Momentum
-0.35
Negative
46.72
Neutral
69.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PWP, the sentiment is Negative. The current price of 17.65 is above the 20-day moving average (MA) of 17.15, below the 50-day MA of 19.51, and below the 200-day MA of 19.72, indicating a neutral trend. The MACD of -0.35 indicates Negative momentum. The RSI at 46.72 is Neutral, neither overbought nor oversold. The STOCH value of 69.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PWP.
Perella Weinberg Partners Risk Analysis
Perella Weinberg Partners disclosed 39 risk factors in its most recent earnings report. Perella Weinberg Partners reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Perella Weinberg Partners Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $5.55B | 20.12 | 21.69% | 1.63% | 12.77% | 36.43% | |
71 Outperform | $4.49B | 22.13 | 44.30% | 3.69% | 51.19% | 456.59% | |
71 Outperform | $3.38B | 23.88 | 84.45% | 0.58% | 23.16% | 64.04% | |
70 Outperform | $12.08B | 16.14 | 33.81% | 0.95% | 27.00% | 63.47% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
60 Neutral | $23.52B | 32.56 | 18.57% | 0.32% | 35.19% | -18.62% | |
50 Neutral | $1.62B | 31.31 | ― | 1.62% | -12.44% | ― |
* Financial Sector Average
PWP
Perella Weinberg Partners
17.65
1.76
11.08%
EVR
Evercore Partners
304.95
141.95
87.08%
LPLA
LPL Financial
293.67
6.78
2.36%
PIPR
Piper Sandler
77.83
25.84
49.71%
MC
Moelis
56.27
8.26
17.20%
PJT
PJT Partners
139.99
14.81
11.83%
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.