P10 Holdings (PX) AI Stock Analysis

• Market Cap: $1.37B
• Dividend Yield: 1.12%
• Average Volume (3M): 582.70K
• Price to Earnings (P/E): 100.0
• Beta (1Y): 1.34
• Revenue Growth: 15.60%
• EPS Growth: 445.23%
• Country: US
• Employees: 267
• Sector: Financial
• Sector Strength: 71
• Industry: Asset Management
• EPS (TTM): 0.23
• Shares Outstanding: 77,530,130
• 10 Day Avg. Volume: 586,155
• 30 Day Avg. Volume: 582,699
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.19
• Enterprise Value/Revenue: 5.45
• Enterprise Value/Gross Profit: 11.01
• Enterprise Value/Ebitda: 18.07
• 1Y Price Target: $15.88
• Price Target Upside: 24.55% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 61 Neutral
• Price Target: $13.50 ▲(5.88% Upside)

P10 Holdings shows strong growth in fee-paying assets and strategic initiatives, which are significant positives. However, high valuation and financial challenges such as declining net profit margins and increased leverage weigh on the overall score. The positive sentiment from the earnings call suggests potential for future growth, but the high P/E ratio and lack of technical data suggest caution.

Positive Factors

Financial Targets

Long-term financial targets are ahead of expectations across fee-paying AUM (FPAUM) and fee-related earnings (FRE) margins.

Leadership Changes

The appointment of Luke Sarsfield as CEO is a significant development for the company.

Valuation

Private markets growth at a compelling valuation has resulted in an initiation at an overweight rating.

Negative Factors

Growth Outlook

Slower than expected growth outlook has led to a downgrade.

P10 Holdings Business Overview & Revenue Model

Company Description

P10 Holdings (PX) is a diversified investment firm focused on the private equity, venture capital, and credit markets. The company primarily invests in niche sectors and emerging technologies, aiming to deliver strong returns for its investors. P10 Holdings operates through various subsidiaries that manage investment funds and provide advisory services, facilitating capital deployment in high-growth opportunities across multiple industries.

How the Company Makes Money

P10 Holdings generates revenue through management fees and performance-based fees from the investment funds it manages. The company's key revenue streams include income from its private equity and venture capital investments, as well as advisory and consulting services offered to portfolio companies. Additionally, P10 may earn income from co-investment opportunities and partnerships with other institutional investors, enhancing its earnings potential through collaborative investments. The firm's strategic focus on niche markets and emerging technologies allows it to capitalize on unique investment opportunities, contributing to its overall financial performance.

P10 Holdings Financial Statement Overview

Summary

P10 Holdings exhibits strong financial health with robust revenue growth, stable profitability margins, and efficient cash flow management. While high debt levels pose some risk, the company's solid equity base and consistent free cash flow mitigate these concerns.

Income Statement

P10 Holdings has shown strong revenue growth over the years, with a notable increase from $67.4M in 2020 to $298M TTM. The company's gross profit margin has remained relatively stable, highlighting efficient cost management. The net profit margin is positive, reflecting profitability, although it shows some variability. The EBIT and EBITDA margins indicate solid operational efficiency.

Balance Sheet

The balance sheet shows a healthy equity position with a debt-to-equity ratio improving over time. The equity ratio is strong, signifying financial stability and a lower risk profile. However, the high level of total debt is a concern that needs monitoring. Overall, the balance sheet reflects a balanced approach to leveraging and equity management.

Cash Flow

The cash flow statement indicates robust operating cash flow generation, which has consistently supported free cash flow growth. The operating cash flow to net income ratio is favorable, suggesting efficient cash conversion. Despite substantial financing activities impacting cash flow, the company has maintained positive free cash flow, indicating effective cash management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	299.63M	296.45M	241.73M	198.36M	150.53M	67.37M
Gross Profit	148.45M	141.13M	87.45M	104.06M	95.78M	42.84M
EBITDA	90.42M	91.83M	52.93M	72.32M	56.59M	24.26M
Net Income	14.59M	18.70M	-7.13M	29.21M	10.77M	23.81M
Balance Sheet
Total Assets	932.16M	869.27M	834.07M	826.36M	676.22M	582.43M
Cash, Cash Equivalents and Short-Term Investments	33.44M	67.45M	30.47M	20.02M	40.92M	11.77M
Total Debt	403.41M	340.37M	310.12M	307.78M	228.20M	297.74M
Total Liabilities	543.22M	482.38M	408.91M	392.48M	281.05M	522.59M
Stockholders Equity	388.94M	347.00M	385.59M	393.14M	395.16M	59.84M
Cash Flow
Free Cash Flow	57.46M	96.59M	46.22M	60.21M	48.86M	10.64M
Operating Cash Flow	63.84M	100.97M	47.69M	61.67M	49.02M	10.67M
Investing Cash Flow	-47.60M	-5.80M	-2.25M	-98.59M	-47.40M	-214.19M
Financing Cash Flow	-14.30M	-59.11M	-42.87M	22.93M	29.08M	196.84M

P10 Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 12.75
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PX, the sentiment is Positive. The current price of 12.75 is above the 20-day moving average (MA) of 12.22, above the 50-day MA of 10.99, and above the 200-day MA of 11.87, indicating a bullish trend. The MACD of 0.41 indicates Negative momentum. The RSI at 67.01 is Neutral, neither overbought nor oversold. The STOCH value of 70.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PX.

P10 Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WT	78 Outperform	$2.00B	35.11	11.22%	0.89%	15.43%	-19.63%
TRIN	74 Outperform	$1.13B	7.21	17.31%	12.67%	31.43%	30.85%
PAX	71 Outperform	$2.19B	29.71	13.60%	4.31%	22.92%	-40.61%
VRTS	69 Neutral	$1.31B	9.45	16.46%	4.55%	0.66%	36.96%
AMTD	68 Neutral	$1.13B	1.34	11.11%	―	―	―
Sector *	68 Neutral	$17.51B	11.65	10.43%	3.82%	9.93%	1.68%
PX	61 Neutral	$1.37B	100.00	4.20%	1.12%	15.60%	445.23%

P10 Holdings Corporate Events

P10 Holdings Reports Strong Q2 2025 Financial Results

On August 7, 2025, P10, Inc. reported its financial results for the second quarter ended June 30, 2025, highlighting a record organic fundraising and deployments of over $1.9 billion in gross new fee-paying assets under management (AUM). The company’s fee-paying AUM grew by 21% year over year, reaching $28.9 billion, bolstered by the acquisition of Qualitas Funds. Despite a slight decline in GAAP net income compared to the previous year, P10’s fee-related earnings increased by 5% year over year. The company also repurchased over 2.5 million shares and declared a quarterly cash dividend, underscoring its strategic initiatives in capital formation and global expansion.

The most recent analyst rating on (PX) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on P10 Holdings stock, see the PX Stock Forecast page.

P10 Holdings Announces Key Governance Decisions at Annual Meeting

On June 12, 2025, P10, Inc. held its Annual Meeting of Stockholders where significant decisions were made regarding the company’s governance and financial oversight. Stockholders elected three nominees as Class I Directors for a three-year term and ratified the appointment of KPMG LLP as the independent auditor for the fiscal year ending December 31, 2025. These decisions are pivotal for P10, Inc.’s operational continuity and financial transparency, reinforcing its commitment to robust corporate governance and stakeholder trust.

The most recent analyst rating on (PX) stock is a Hold with a $14.00 price target. To see the full list of analyst forecasts on P10 Holdings stock, see the PX Stock Forecast page.