Investment banking firm PJT Partners (NYSE: PJT) beat Wall Street’s revenue expectations in Q3 CY2025, with sales up 37% year on year to $447.1 million. Its non-GAAP profit of $1.85 per share was 32.1% above analysts’ consensus estimates.
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PJT (PJT) Q3 CY2025 Highlights:
Company Overview
Spun off from Blackstone in 2015 and founded by former Morgan Stanley executive Paul J. Taubman, PJT Partners (NYSE: PJT) is an advisory-focused investment bank that provides strategic advice, restructuring services, and fundraising solutions to corporations, boards, and investment firms.
Revenue Growth
A company’s long-term sales performance can indicate its overall quality. Any business can have short-term success, but a top-tier one grows for years. Over the last five years, PJT grew its revenue at a solid 11.1% compounded annual growth rate. Its growth beat the average financials company and shows its offerings resonate with customers, a helpful starting point for our analysis.
Long-term growth is the most important, but within financials, a half-decade historical view may miss recent interest rate changes and market returns. PJT’s annualized revenue growth of 22.4% over the last two years is above its five-year trend, suggesting its demand was strong and recently accelerated. 
Note: Quarters not shown were determined to be outliers, impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.
This quarter, PJT reported wonderful year-on-year revenue growth of 37%, and its $447.1 million of revenue exceeded Wall Street’s estimates by 15.6%.
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Key Takeaways from PJT’s Q3 Results
It was good to see PJT beat analysts’ EPS expectations this quarter. We were also excited its revenue outperformed Wall Street’s estimates by a wide margin. Zooming out, we think this was a good print with some key areas of upside. The stock traded up 2.6% to $166.84 immediately following the results.
PJT may have had a good quarter, but does that mean you should invest right now? What happened in the latest quarter matters, but not as much as longer-term business quality and valuation, when deciding whether to invest in this stock. We cover that in our actionable full research report which you can read here, it’s free for active Edge members.
