P10 Holdings (PX) AI Stock Analysis

• Market Cap: $1.08B
• Dividend Yield: 1.5%
• Average Volume (3M): 496.46K
• Price to Earnings (P/E): 74.0
• Beta (1Y): 1.41
• Revenue Growth: 9.77%
• EPS Growth: 26.76%
• Country: US
• Employees: 267
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 0.24
• Shares Outstanding: 78,067,340
• 10 Day Avg. Volume: 477,555
• 30 Day Avg. Volume: 496,462
• PEG Ratio: -0.20
• Price to Book (P/B): 4.09
• Price to Sales (P/S): 4.79
• P/FCF Ratio: 14.69
• Enterprise Value/Market Cap: 1.51
• Enterprise Value/Revenue: 5.41
• Enterprise Value/Gross Profit: 10.85
• Enterprise Value/Ebitda: 21.77
• 1Y Price Target: $15.88
• Price Target Upside: 61.22% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): 0.9
• Revenue Forecast (FY): $301.04M

• Rating: 59 Neutral
• Price Target: $9.50 ▼(-3.55% Downside)

P10 Holdings' overall stock score is primarily influenced by its strong revenue growth and solid gross margins, despite challenges in profitability and leverage. The technical analysis indicates a bearish trend, with the stock trading below key moving averages and showing oversold signals. Valuation concerns arise from a high P/E ratio, although the dividend yield provides some investor income. The earnings call presents a mixed picture, with strong asset growth but some financial challenges.

Positive Factors

Revenue Growth

The robust revenue growth indicates effective market penetration and demand for P10's investment services, supporting long-term business expansion.

Assets Under Management

The increase in assets under management reflects successful client retention and acquisition, enhancing revenue potential and market influence.

Successful Fundraising

Exceeding fundraising targets strengthens P10's capital base, enabling further investments and reinforcing its competitive position in niche markets.

Negative Factors

Declining Net Profit Margin

A declining net profit margin indicates pressure on profitability, which could affect P10's ability to reinvest in growth and manage costs effectively.

Increased Leverage

Higher leverage can strain financial flexibility and increase risk, especially in volatile markets, potentially impacting long-term stability.

Decreased Free Cash Flow

A decline in free cash flow growth may limit P10's ability to fund new investments and maintain liquidity, affecting future operational capabilities.

P10 Holdings Business Overview & Revenue Model

Company Description

P10 Holdings (PX) is an investment firm focused on providing capital solutions and managing assets primarily in the private equity and venture capital sectors. The company aims to partner with innovative businesses across various industries, including technology, healthcare, and consumer products, leveraging its expertise to drive growth and enhance value. P10 Holdings is dedicated to fostering long-term relationships with its portfolio companies while delivering strong returns to its investors through strategic investments and management.

How the Company Makes Money

P10 Holdings generates revenue primarily through management fees and carried interest from its investment funds. The company manages several private equity and venture capital funds, earning management fees based on the total capital committed by investors. Additionally, P10 benefits from carried interest, which is a share of the profits from the investments made by these funds, typically realized when the investments are exited. Significant partnerships with institutional investors and strategic alliances within the industries they invest in also contribute to their earnings. The firm's ability to identify and invest in high-growth potential companies is a critical factor in its revenue generation.

P10 Holdings Financial Statement Overview

Summary

P10 Holdings demonstrates strong revenue growth and operational efficiency, but faces challenges with declining net profit margins and increased leverage. While cash flow generation remains robust, the decrease in free cash flow growth could impact future liquidity. Overall, the company is expanding but must manage profitability and leverage to sustain growth.

Income Statement

P10 Holdings shows strong revenue growth with a TTM increase of 54.6%, indicating robust expansion. The gross profit margin is healthy at 49.5%, although it has slightly decreased from previous years. The net profit margin has declined to 4.9% in TTM, reflecting some pressure on profitability. EBIT and EBITDA margins remain solid, suggesting efficient operations.

Balance Sheet

The company's debt-to-equity ratio has increased to 1.04 in TTM, indicating higher leverage, which could pose a risk if not managed properly. Return on equity has decreased to 4.1%, showing reduced profitability for shareholders. However, the equity ratio remains stable, suggesting a balanced asset structure.

Cash Flow

Free cash flow has decreased by 27.8% in TTM, which is a concern for liquidity. The operating cash flow to net income ratio is strong at 4.58, indicating good cash generation relative to net income. However, the decline in free cash flow growth suggests potential challenges in sustaining cash reserves.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	301.31M	296.45M	241.73M	198.36M	150.53M	67.37M
Gross Profit	150.34M	141.13M	87.45M	104.06M	95.78M	42.84M
EBITDA	74.94M	91.83M	48.69M	72.32M	56.59M	24.26M
Net Income	15.33M	18.70M	-7.13M	29.21M	10.77M	23.81M
Balance Sheet
Total Assets	936.01M	869.27M	834.07M	826.36M	676.22M	582.43M
Cash, Cash Equivalents and Short-Term Investments	39.99M	67.45M	30.47M	20.02M	40.92M	11.77M
Total Debt	424.07M	340.37M	310.12M	307.78M	228.20M	297.74M
Total Liabilities	539.22M	482.38M	408.91M	392.48M	281.05M	522.59M
Stockholders Equity	344.78M	347.00M	385.59M	393.14M	395.16M	59.84M
Cash Flow
Free Cash Flow	22.65M	96.59M	46.22M	60.21M	48.86M	10.63M
Operating Cash Flow	27.77M	100.97M	47.69M	61.67M	49.02M	10.67M
Investing Cash Flow	-43.51M	-5.80M	-2.25M	-98.59M	-47.40M	-214.19M
Financing Cash Flow	-6.65M	-59.11M	-42.87M	22.93M	29.08M	196.84M

P10 Holdings Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 9.85
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PX, the sentiment is Neutral. The current price of 9.85 is above the 20-day moving average (MA) of 9.63, below the 50-day MA of 10.23, and below the 200-day MA of 11.07, indicating a neutral trend. The MACD of -0.23 indicates Negative momentum. The RSI at 51.24 is Neutral, neither overbought nor oversold. The STOCH value of 90.34 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for PX.

P10 Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TRIN	74 Outperform	$1.10B	6.66	16.18%	13.78%	33.44%	25.22%
GSBD	71 Outperform	$1.13B	8.67	8.75%	16.38%	-16.58%	65.24%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
VRTS	67 Neutral	$1.05B	7.98	15.07%	5.61%	-3.07%	18.00%
NMFC	66 Neutral	$994.42M	14.77	5.43%	13.34%	36.15%	-38.59%
CSWC	65 Neutral	$1.26B	14.05	9.80%	10.55%	25.28%	-1.69%
PX	59 Neutral	$1.08B	74.04	4.38%	1.50%	9.77%	26.76%

P10 Holdings Corporate Events

P10 Holdings Reports Strong Q3 2025 Earnings

P10 Holdings, Inc. is a prominent private markets solutions provider, focusing on private equity, private credit, and venture capital investments, particularly in the middle and lower-middle market sectors. The company is known for its global investor base and aims to deliver compelling risk-adjusted returns.

P10 Holdings Reports Balanced Q3 Earnings Call

P10 Holdings, Inc. recently held its third-quarter earnings call, presenting a balanced mix of achievements and challenges. The company reported strong growth in fee-paying assets under management and successful fundraising efforts, notably closing RCP’s Secondary Fund V above its target. However, they also faced challenges such as increased step-downs and expirations, alongside a decrease in adjusted net income.

P10 Holdings Reports Q3 2025 Financial Results

On November 6, 2025, P10, Inc. reported its financial results for the third quarter ending September 30, 2025, highlighting a 17% year-over-year increase in fee-paying assets under management, reaching $29.1 billion. The company also announced a stock repurchase program and declared a quarterly cash dividend, reflecting its strong financial performance and strategic focus on the middle and lower-middle markets.

The most recent analyst rating on (PX) stock is a Hold with a $12.50 price target. To see the full list of analyst forecasts on P10 Holdings stock, see the PX Stock Forecast page.

P10 Holdings Enters Interest Rate Collar Agreement

On September 15, 2025, P10, Inc. entered into an interest rate collar hedging transaction with East West Bank to manage the variable interest rate risk associated with its borrowings under an amended credit agreement. The transaction involves a notional amount of $211,250,000, with a SOFR floor of 2.310% and a cap of 4.250%, effective from September 30, 2025, to August 1, 2028.

The most recent analyst rating on (PX) stock is a Hold with a $13.00 price target. To see the full list of analyst forecasts on P10 Holdings stock, see the PX Stock Forecast page.