Estados financieros detallados de PJT Partners Inc. (PJT): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
PJT Partners Inc. registró ingresos de $1.71B en el último ejercicio fiscal, con un CAGR de 5 años del 10.2%. El beneficio neto alcanzó $180.1M, con un CAGR a 5 años del 8.9%.
Márgenes de los últimos 12 meses: margen bruto 64.6%, margen operativo 21.5%, margen neto 10.6%. El flujo de caja libre creció a un CAGR del 0.8% en 5 años.
Al precio actual de $152.60, PJT cotiza a un P/E de 16.99 y un ROE del 71.16%. La capitalización bursátil es de $3.9B.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $499.4M | $499.3M | $580.2M | $717.6M | $1.05B | $991.9M | $1.03B | $1.15B | $1.49B | $1.71B |
| Coste de Ventas | $381.0M | $391.5M | $424.5M | $502.2M | $683.4M | $640.0M | $669.1M | $805.4M | $1.03B | $1.16B |
| Beneficio Bruto | $118.4M | $107.8M | $155.8M | $215.5M | $368.9M | $351.9M | $356.4M | $347.8M | $461.1M | $555.7M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $53.6M | $56.9M | $60.3M | $66.7M | $72.0M | $80.0M | $79.3M | $104.8M | $121.5M | $133.5M |
| Gastos Operativos | $79.1M | $78.7M | $93.6M | $106.9M | $94.4M | $106.5M | $125.2M | $150.0M | $171.3M | $192.9M |
| Beneficio Operativo | $39.3M | $29.1M | $62.1M | $108.6M | $274.5M | $245.4M | $231.1M | $197.8M | $289.9M | $362.9M |
| EBITDA | $53.3M | $37.2M | $72.1M | $141.4M | $310.9M | $280.3M | $267.3M | $234.5M | $318.5M | $394.1M |
| Gastos por Intereses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | $14.5M | $10.1M | $41.5M | $82.2M | $248.0M | $219.4M | $201.5M | $177.6M | $270.6M | $342.9M |
| Impuestos | $9.4M | $38.4M | -$1.0M | $18.4M | $35.5M | $29.5M | $36.7M | $31.9M | $32.1M | $33.2M |
| Beneficio Neto | -$3.0M | -$32.6M | $27.2M | $29.6M | $117.5M | $106.2M | $90.5M | $81.8M | $134.4M | $180.1M |
| BPA | $-0.17 | $-1.73 | $1.29 | $1.27 | $7.75 | $6.77 | $3.61 | $5.18 | $5.28 | $7.00 |
| BPA Diluido | $-0.17 | $-1.73 | $1.16 | $1.21 | $4.40 | $3.99 | $3.51 | $4.89 | $4.92 | $6.68 |
| Acciones en Circulación (Diluidas) | $18.3M | $18.9M | $24.3M | $25.0M | $43.1M | $42.4M | $26.6M | $26.8M | $44.1M | $28.6M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $447.1M | $535.2M | $418.2M | $486.3M |
| Beneficio Bruto | $143.8M | $178.5M | $414.3M | $481.9M |
| Beneficio Operativo | $96.3M | $126.3M | $80.3M | $102.1M |
| EBITDA | $104.1M | $134.4M | $84.3M | $106.4M |
| Beneficio Neto | $39.8M | $53.4M | $60.5M | $45.8M |
| BPA | $1.55 | $2.07 | $3.65 | $1.71 |
| BPA Diluido | $1.47 | $-0.52 | $3.34 | $1.66 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $152.4M | $145.6M | $106.1M | $215.9M | $299.5M | $200.5M | $173.2M | $355.5M | $483.9M | $538.9M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $46.9M |
| Cuentas por Cobrar | $154.5M | $112.7M | $217.8M | $227.5M | $233.2M | $289.3M | $317.8M | $263.5M | $320.8M | $404.3M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $306.9M | $258.3M | $323.9M | $443.5M | $532.7M | $489.7M | $491.0M | $619.1M | $804.7M | $990.1M |
| Inmovilizado Material | $38.2M | $33.8M | $34.8M | $203.6M | $189.6M | $175.1M | $149.7M | $325.1M | $335.0M | $752.9M |
| Fondo de Comercio | $72.3M | $72.3M | $176.0M | $172.7M | $172.7M | $172.7M | $172.7M | $172.7M | $191.6M | $191.6M |
| Activos Intangibles | $14.7M | $12.3M | $49.2M | $39.8M | $32.0M | $24.4M | $17.9M | $13.0M | $13.0M | $7.5M |
| Activos Totales | $590.5M | $559.0M | $671.8M | $952.8M | $1.17B | $987.6M | $1.05B | $1.43B | $1.64B | $1.91B |
| Cuentas por Pagar | $17.4M | $16.9M | $24.7M | $24.8M | $25.9M | $23.8M | $24.8M | $22.3M | $33.6M | 0 |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $35.8M |
| Pasivos Corrientes | $20.6M | $22.5M | $48.0M | $53.1M | $58.0M | $71.3M | $71.5M | $68.8M | $79.9M | $35.8M |
| Deuda a Largo | 0 | 0 | $30.0M | $21.5M | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $599.0M | $136.5M | $184.1M | $378.3M | $483.8M | $350.1M | $291.1M | $573.8M | $733.7M | $898.0M |
| Reservas | -$17.9M | -$186.0M | -$169.8M | -$144.9M | -$33.1M | -$4.9M | $61.0M | $118.3M | $228.6M | $384.2M |
| Patrimonio Neto | -$8.6M | -$157.3M | -$26.5M | $31.4M | $154.3M | $120.2M | $185.1M | $244.7M | $187.0M | $308.2M |
| Deuda Total | 0 | 0 | $30.0M | $204.4M | $172.3M | $157.0M | $135.6M | $330.6M | $354.5M | $413.9M |
| Deuda Neta | -$152.4M | -$145.6M | -$76.1M | -$11.5M | -$127.2M | -$43.5M | -$37.6M | -$24.9M | -$129.4M | -$171.9M |
| Capital Circulante | $286.3M | $235.8M | $275.9M | $390.4M | $474.7M | $418.4M | $419.4M | $550.3M | $724.7M | $954.3M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $400.5M | $538.9M | $308.8M | $235.5M |
| Activos Totales | $1.72B | $1.91B | $1.56B | $1.76B |
| Pasivos Totales | $788.7M | $898.0M | $634.1M | $772.6M |
| Patrimonio Neto | $228.6M | $308.2M | $272.7M | $312.1M |
| Deuda Total | $413.2M | $413.9M | $421.5M | $419.4M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $5.1M | -$28.3M | $42.6M | $63.8M | $212.4M | $190.0M | $164.8M | $145.7M | $238.5M | $180.1M |
| Amortizaciones | $14.0M | $8.1M | $10.0M | $32.8M | $36.4M | $34.9M | $36.2M | $36.7M | $28.7M | $31.2M |
| Compensación en Acciones | $89.0M | $115.9M | $118.0M | $111.6M | $120.9M | $108.9M | $165.5M | $178.5M | $209.2M | 0 |
| Cambio en Capital Circulante | $1.6M | -$13.2M | -$40.5M | -$11.8M | $95.8M | -$214.9M | -$131.2M | $78.6M | $61.3M | -$41.1M |
| Flujo de Caja Operativo | $116.9M | $111.2M | $122.9M | $211.3M | $469.4M | $124.2M | $242.7M | $441.5M | $531.0M | $526.3M |
| Inversiones (CapEx) | -$13.1M | -$1.1M | -$7.2M | -$8.8M | -$8.9M | -$6.5M | -$3.4M | -$3.9M | -$3.3M | -$45.9M |
| Adquisiciones | 0 | 0 | -$61.5M | 0 | 0 | 0 | 0 | 0 | -$10.7M | 0 |
| Recompra de Acciones | -$266000 | -$2.3M | -$64.9M | -$47.8M | -$48.7M | -$103.3M | -$109.5M | -$116.7M | -$235.1M | -$195.2M |
| Dividendos Pagados | -$3.7M | -$3.8M | -$4.3M | -$4.6M | -$4.8M | -$78.0M | -$24.6M | -$24.4M | -$24.1M | -$24.5M |
| Flujo de Caja Libre | $103.8M | $110.2M | $115.7M | $202.4M | $460.6M | $117.7M | $239.3M | $437.6M | $527.7M | $480.4M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $256.1M | $155.7M | $64.3M | $237.0M |
| Inversiones (CapEx) | -$15.2M | -$17.2M | -$8.3M | -$10.6M |
| Flujo de Caja Libre | $240.9M | $138.6M | $56.0M | $226.4M |
| Dividendos Pagados | -$6.1M | -$6.1M | -$6.5M | -$6.4M |
| Compensación en Acciones | $47.6M | 0 | $85.1M | $55.5M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -0.0% | +16.2% | +23.7% | +46.6% | -5.7% | +3.4% | +12.5% | +29.5% | +14.8% |
| Crecimiento Beneficio Neto (anual) | | -973.0% | +183.5% | +8.8% | +297.6% | -9.7% | -14.7% | -9.6% | +64.3% | +34.0% |
| Crecimiento BPA (anual) | | -917.6% | +174.6% | -1.6% | +510.2% | -12.6% | -46.7% | +43.5% | +1.9% | +32.6% |
| Cambio en Acciones (anual) | | +3.1% | +28.6% | +3.1% | +72.4% | -1.8% | -37.2% | +0.6% | +64.8% | -35.1% |
| Crecimiento FCF (anual) | | +6.2% | +5.1% | +74.9% | +127.5% | -74.4% | +103.3% | +82.9% | +20.6% | -8.9% |
| Margen Bruto | 23.7% | 21.6% | 26.8% | 30.0% | 35.1% | 35.5% | 34.8% | 30.2% | 30.9% | 32.4% |
| Margen Operativo | 7.9% | 5.8% | 10.7% | 15.1% | 26.1% | 24.7% | 22.5% | 17.2% | 19.4% | 21.2% |
| Margen EBITDA | 10.7% | 7.5% | 12.4% | 19.7% | 29.5% | 28.3% | 26.1% | 20.3% | 21.3% | 23.0% |
| Margen Neto | -0.6% | -6.5% | 4.7% | 4.1% | 11.2% | 10.7% | 8.8% | 7.1% | 9.0% | 10.5% |
| Margen FCF | 20.8% | 22.1% | 19.9% | 28.2% | 43.8% | 11.9% | 23.3% | 37.9% | 35.3% | 28.0% |
| Tasa Impositiva Efectiva | 64.8% | 381.7% | -2.5% | 22.4% | 14.3% | 13.4% | 18.2% | 18.0% | 11.9% | 9.7% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $5.67 | $5.84 | $4.77 | $8.09 | $10.68 | $2.78 | $8.99 | $16.35 | $11.96 | $16.79 |
| Dividendo por Acción | $0.20 | $0.20 | $0.18 | $0.19 | $0.11 | $1.84 | $0.93 | $0.91 | $0.55 | $0.86 |
| Acciones en Circulación (Básicas) | $18.3M | $18.9M | $21.9M | $24.0M | $24.5M | $25.0M | $25.1M | $25.3M | $25.5M | $25.7M |
Qué mirar en empresas de Financial Services
- Efficiency Ratio (≤55%) — Gastos operativos / ingresos. Bancos top por debajo del 55%.
- ROA (≥1%) — Cuánto ganan por cada euro de activos. En banca el ROE engaña por el apalancamiento.
- ROTCE (≥12%) — Rentabilidad sobre Capital Tangible. Descuenta goodwill e intangibles.
- Capital / Activos (proxy Tier 1) (≥8%) — Proxy del ratio de capital. FMP no expone Tier 1 regulatorio directo.
- P/B (1,0-1,5x) — Métrica clásica bancaria. <1x puede ser oportunidad o distress.
- Rentabilidad por dividendo sostenible (≥2%, <8%) — Bancos UE pagan 5-7% sin estrés. >8% es señal de distress.
Rentabilidad
| Rentabilidad sobre capital | 71.16% |
| Rentabilidad sobre capital invertido | 21.19% |
| Rentabilidad sobre activos | 11.36% |
| Margen bruto | 64.58% |
| Margen operativo | 21.47% |
| Margen neto | 10.58% |
Salud financiera
| Deuda / Patrimonio | 1.34 |
| Ratio corriente | 6.78 |
| Piotroski F-Score | 7 |
| Altman Z-Score | 5.28 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -181.65 | -26.36 | 30.05 | 35.54 | 9.71 | 10.94 | 20.41 | 19.67 | 29.89 | 23.89 |
| P/VC | -65.99 | -5.47 | -32.06 | 34.52 | 11.95 | 15.38 | 9.98 | 10.52 | 21.48 | 13.95 |
| P/V | 1.13 | 1.72 | 1.46 | 1.51 | 1.75 | 1.86 | 1.80 | 2.23 | 2.69 | 2.51 |
| Margen Bruto | 23.7% | 21.6% | 26.8% | 30.0% | 35.1% | 35.5% | 34.8% | 30.2% | 30.9% | 32.4% |
| Margen Operativo | 7.9% | 5.8% | 10.7% | 15.1% | 26.1% | 24.7% | 22.5% | 17.2% | 19.4% | 21.2% |
| Margen Neto | -0.6% | -6.5% | 4.7% | 4.1% | 11.2% | 10.7% | 8.8% | 7.1% | 9.0% | 10.5% |