P10 Holdings (PX) AI Stock Analysis

• Market Cap: $1.14B
• Dividend Yield: 1.4%
• Average Volume (3M): 376.35K
• Price to Earnings (P/E): 77.9
• Beta (1Y): 1.36
• Revenue Growth: 9.76%
• EPS Growth: N/A
• Country: US
• Employees: 267
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 0.24
• Shares Outstanding: 77,843,010
• 10 Day Avg. Volume: 380,400
• 30 Day Avg. Volume: 376,345
• 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: 0.00
• Enterprise Value/Revenue: 0.00
• Enterprise Value/Gross Profit: 0.00
• Enterprise Value/Ebitda: 0.00
• 1Y Price Target: $15.88
• Price Target Upside: 50.09% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): 0.9
• Revenue Forecast (FY): $301.04M

• Rating: 63 Neutral
• Price Target: $12.50 ▲(18.15% Upside)

P10 Holdings demonstrates strong financial performance with robust revenue growth and efficient operations, but faces challenges with profitability and leverage. The technical analysis indicates a bearish trend, and the stock appears overvalued based on its high P/E ratio. The earnings call provided a balanced view of growth and challenges. These factors combined result in a moderate overall stock score.

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 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 shows 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	67.90M	91.83M	48.69M	72.32M	56.59M	24.26M
Net Income	18.32M	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	0.00	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	396.79M	347.00M	385.59M	393.14M	395.16M	59.84M
Cash Flow
Free Cash Flow	22.80M	96.59M	46.22M	60.21M	48.86M	10.64M
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: 10.58
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• 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 Neutral. The current price of 10.58 is above the 20-day moving average (MA) of 10.54, below the 50-day MA of 11.15, and below the 200-day MA of 11.45, indicating a neutral trend. The MACD of -0.18 indicates Negative momentum. The RSI at 47.61 is Neutral, neither overbought nor oversold. The STOCH value of 51.23 is Neutral, 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	6.68	16.18%	13.97%	33.44%	25.22%
GSBD	71 Outperform	$1.11B	7.85	9.36%	16.85%	-16.58%	65.24%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
CSWC	66 Neutral	$1.17B	13.11	9.80%	13.21%	25.28%	-1.69%
VRTS	66 Neutral	$1.10B	8.36	15.07%	5.61%	-3.07%	18.00%
NMFC	65 Neutral	$987.20M	14.67	5.43%	13.40%	36.15%	-38.59%
PX	63 Neutral	$1.14B	77.94	―	1.40%	9.76%	―

P10 Holdings Corporate Events

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.

P10 Holdings Reports Strong Growth Amid Financial Challenges

In a recent earnings call, P10 Holdings, Inc. conveyed a predominantly positive sentiment, highlighting robust organic growth in fee-paying assets under management (AUM) and successful fundraising endeavors. The company is optimistic about future growth, driven by new product launches and strategic acquisitions such as the Qualitas Funds. However, challenges such as decreased net income and increased interest expenses due to recent acquisitions were acknowledged. Despite these hurdles, P10’s strategic initiatives and market opportunities suggest a promising trajectory.

Altice USA Reports Mixed Q2 2025 Results

Altice USA is a major broadband communications and video services provider in the United States, operating under the Optimum brand and offering services such as broadband, video, mobile, and advertising to approximately 4.5 million customers across 21 states.

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.