P10 Holdings (PX) AI Stock Analysis

• Market Cap: $1.36B
• Dividend Yield: 1.47%
• Average Volume (3M): 992.87K
• Price to Earnings (P/E): 78.8
• Beta (1Y): 1.30
• Revenue Growth: 18.92%
• EPS Growth: N/A
• Country: US
• Employees: 267
• Sector: Financial
• Sector Strength: 72
• Industry: Asset Management
• EPS (TTM): 0.20
• Shares Outstanding: 77,530,130
• 10 Day Avg. Volume: 626,165
• 30 Day Avg. Volume: 992,871
• PEG Ratio: N/A
• Price to Book (P/B): 3.23
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 15.29
• Enterprise Value/Market Cap: 0.84
• Enterprise Value/Revenue: 1.01
• Enterprise Value/Gross Profit: 7.97
• Enterprise Value/Ebitda: 3.87
• 1Y Price Target: $15.63
• Price Target Upside: 28.64% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 70 Outperform
• Price Target: $13.50 ▲(11.11%Upside)

P10 Holdings' strong financial performance and strategic corporate actions are the primary drivers of its overall score. However, the high valuation and technical indicators suggest caution due to potential overvaluation and overbought market conditions.

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, Inc., together with its subsidiaries, operates as a multi-asset class private market solutions provider in the alternative asset management industry in the United States. The company offers private equity, venture capital, private credit, impact investing, and private credit services, as well as primary fund of funds, secondary investment, and direct and co-investments services. It also provides tax credit transaction and consulting services. The company was founded in 1992 and is headquartered in Dallas, Texas.

How the Company Makes Money

P10 Holdings makes money primarily through management and performance fees charged to its clients. As an investment management company, it earns a percentage of the assets under management (AUM) as management fees, providing a steady income stream. Additionally, P10 Holdings may receive performance-based fees or carried interest, which are contingent upon achieving specific investment performance benchmarks, typically a share of the profits generated by the investments. The company also benefits from strategic partnerships and collaborations with institutional investors, enhancing its investment offerings and expanding its client base, thus contributing to its revenue growth.

P10 Holdings Financial Statement Overview

Summary

P10 Holdings demonstrates strong revenue growth and operational efficiency, though profitability was inconsistent in 2023 due to a net loss. The balance sheet shows high leverage, which poses financial risk, but cash flow statements reveal robust cash generation.

Income Statement

P10 Holdings has demonstrated a strong revenue growth trajectory over the years, with a significant increase in total revenue from 2020 to 2024. The gross profit margin has remained healthy, indicating efficient cost management. However, the net profit margin has been volatile, with a notable negative margin in 2023 due to a net loss, signaling some profitability challenges. EBIT and EBITDA margins are robust, showing good operational efficiency.

Balance Sheet

The company maintains a high debt-to-equity ratio, reflecting significant leverage which could pose a risk if not managed carefully. However, the return on equity has been positive overall, indicating effective use of shareholder funds. The equity ratio has been stable, suggesting a balanced approach to financing assets with equity.

Cash Flow

P10 Holdings has shown impressive free cash flow growth, with a substantial increase in free cash flow in 2024 compared to previous years. The operating cash flow to net income ratio indicates strong cash-generating ability relative to net income. The company has also managed to maintain a stable free cash flow to net income ratio, demonstrating effective cash management.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	296.45M	241.73M	198.36M	150.53M	67.37M
Gross Profit	141.13M	87.45M	104.06M	95.78M	42.84M
EBITDA	91.83M	48.69M	72.32M	56.59M	24.26M
Net Income	18.70M	-7.13M	29.21M	10.77M	23.81M
Balance Sheet
Total Assets	869.27M	834.07M	826.36M	676.22M	582.43M
Cash, Cash Equivalents and Short-Term Investments	67.45M	30.47M	20.02M	40.92M	11.77M
Total Debt	340.37M	310.12M	307.78M	228.20M	297.74M
Total Liabilities	482.38M	408.91M	392.48M	281.05M	522.59M
Stockholders Equity	347.00M	385.59M	393.14M	395.16M	59.84M
Cash Flow
Free Cash Flow	96.59M	46.22M	60.21M	48.86M	10.64M
Operating Cash Flow	100.97M	47.69M	61.67M	49.02M	10.67M
Investing Cash Flow	-5.80M	-2.25M	-98.59M	-47.40M	-214.19M
Financing Cash Flow	-59.11M	-42.87M	22.93M	29.08M	196.84M

P10 Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 12.15
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

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 12.15 is above the 20-day moving average (MA) of 11.04, above the 50-day MA of 10.70, and above the 200-day MA of 11.77, indicating a bullish trend. The MACD of 0.46 indicates Negative momentum. The RSI at 71.33 is Negative, neither overbought nor oversold. The STOCH value of 95.73 is Negative, 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
TRIN	75 Outperform	$971.06M	6.86	17.56%	13.58%	46.14%	34.91%
PAX	74 Outperform	$2.14B	30.14	13.16%	4.43%	22.27%	-42.27%
VRTS	73 Outperform	$1.48B	12.69	13.66%	4.05%	0.63%	1.46%
PX	70 Outperform	$1.36B	78.84	5.24%	1.47%	18.92%	―
WT	70 Outperform	$2.00B	40.35	10.77%	0.88%	20.66%	-47.25%
AMTD	70 Outperform	$1.13B	1.51	11.11%	―	―	―
Sector *	68 Neutral	$17.10B	11.44	9.70%	3.58%	11.11%	-4.78%

P10 Holdings Corporate Events

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.

P10 Holdings Reports Strong Q1 2025 Financial Results

On May 8, 2025, P10 Holdings reported its first-quarter 2025 financial results, highlighting a record fundraising and deployment of over $1.4 billion in gross new fee-paying assets under management. The company also completed the acquisition of Qualitas Funds, expanding its global presence. Financial highlights include a 2% year-over-year increase in revenue to $67.7 million and a 10% increase in fee-paying assets under management to $26.3 billion. Despite a slight decrease in GAAP net income compared to the previous year, P10 increased its quarterly dividend by 7% and repurchased over 1.2 million shares. The company’s strong performance underscores its platform’s strength and its strategic positioning for future growth.