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Perella Weinberg Partners
(NASDAQ:PWP)
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Rating:53Neutral
Price Target:
$13.00
▼(-23.30% Downside)
Action:Reiterated
Date:10/15/26
The score is held back primarily by weak balance sheet quality (negative equity) and bearish technical trends (price below major moving averages and negative MACD). These risks are partially offset by improving recent profitability and solid free cash flow, plus an earnings call pointing to a significantly stronger backlog and disciplined expenses, though near-term revenue timing remains uncertain. Valuation is also a headwind given the high P/E despite a modest dividend yield.
Positive Factors
Backlog Growth
A sharply larger backlog improves forward revenue visibility for an advisory model whose fees are tied to transaction completions. If the firm converts this pipeline into closings, it can support stronger activity, deepen client relationships, and improve operating leverage over the next several quarters.
Negative Factors
Negative Stockholders’ Equity
Negative equity weakens the company’s financial cushion and makes conventional leverage measures less informative. Although TTM debt is shown as zero, the negative equity profile and history of substantial prior debt leave less flexibility to withstand earnings volatility or fund strategic initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Backlog Growth
A sharply larger backlog improves forward revenue visibility for an advisory model whose fees are tied to transaction completions. If the firm converts this pipeline into closings, it can support stronger activity, deepen client relationships, and improve operating leverage over the next several quarters.
Read all positive factors
Perella Weinberg Partners Key Performance Indicators (KPIs)
Any
Remaining Performance Obligations
Indicates the value of contracted work yet to be completed, offering insight into future revenue streams and the company's workload capacity.
Indicates the value of contracted work yet to be completed, offering insight into future revenue streams and the company's workload capacity.
Data provided by:
The Fly
The FlyPerella Weinberg Partners (PWP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.21B
Dividend Yield2.25%
Average Volume (3M)2.33M
Price to Earnings (P/E)38.2
Beta (1Y)1.59
Revenue Growth-20.87%
EPS Growth-66.62%
CountryUS
Employees736
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.33
Shares Outstanding77,293,015
10 Day Avg. Volume2,162,505
30 Day Avg. Volume2,329,994
Financial Highlights & Ratios
PEG Ratio-0.22
Price to Book (P/B)-8.72
Price to Sales (P/S)1.48
P/FCF Ratio36.45
Enterprise Value/Market Cap1.65
Enterprise Value/Revenue2.90
Enterprise Value/Gross Profit2.32
Enterprise Value/Ebitda44.12
Forecast
1Y Price Target
$17.25Price Target Upside1.77% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)0.94
Revenue Forecast (FY)$812.54M
Perella Weinberg Partners Business Overview & Revenue Model
Company Description
Perella Weinberg Partners operates as an independent investment banking firm, furnishing strategic and financial advisory services to clients both in the United States and internationally. The company's offerings encompass guidance on crucial stra...
How the Company Makes Money
PWP primarily makes money by earning advisory fees for executing and advising on complex corporate finance transactions. Its key revenue stream is transaction-based advisory revenue, typically recognized when a deal closes (or when contractual mil...
Perella Weinberg Partners Earnings Call Summary
Earnings Call Date:Jul 31, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
Management reported meaningful forward momentum—backlog up markedly (nearly 2.5x announced & pending; booked plus backlog >30% YoY), accelerating deal announcements, a closed private funds advisory capability, expense discipline, and continued capital returns and a clean balance sheet. Offsetting these positives are a 17% year-over-year decline in first-half revenue, a temporarily elevated first-half compensation ratio (71% vs a 67% target), and timing risks that some large fee events may not be realized until 2027. On balance, the call emphasized strengthening pipeline and confidence heading into the back half, while acknowledging near-term lumpiness and partner ramp timelines.Positive Updates
Quarter and Year-to-Date Revenue Reported
Reported Q2 2026 revenue of $157 million and first-half revenue of $305 million, with management noting momentum in announced transactions despite first-half decline.
Negative Updates
First-Half Revenue Decline
First-half revenue declined 17% year-over-year to $305 million, reflecting a slow first half before expected back-half weighting.
Read all updates
Q2-2026 Updates
Positive
Negative
Quarter and Year-to-Date Revenue Reported
Reported Q2 2026 revenue of $157 million and first-half revenue of $305 million, with management noting momentum in announced transactions despite first-half decline.
Read all positive updates
Company Guidance
The company reiterated several concrete targets and forward-looking metrics: Q2 revenue was $157M and H1 revenue was $305M (down 17% YoY), while announced-and-pending (A&P) backlog is up nearly 2.5x year‑over‑year and total booked plus A&P backlog is up over 30% YoY (with ~40% of YTD announcements occurring since June and 10 transactions announced in the quarter); management said H1 adjusted compensation was 71% and they continue to target a full‑year adjusted compensation ratio of ~67%; adjusted non‑comp expense was $31M in Q2 and $69M for H1 (down 20% YoY) and the firm expects a single‑digit percent decline in full‑year adjusted non‑comp versus 2025; the underlying adjusted tax rate (ex‑RSU benefit) is expected to be in the low‑ to mid‑30% range for the remainder of 2026; capital priorities include a $0.07 quarterly dividend, $73M returned to equity holders YTD (>$765M returned over five years, including retirement of 40M shares), ending the quarter with $116M cash, no debt, 74M Class A shares and 20M partnership units outstanding, and continued investment in talent (six hires joining, eight partner promotions, internally promoted partners ≈45% of the partnership, and >33% of partners with <3 years of tenure).Perella Weinberg Partners Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
28
Negative
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 689.25M | 750.90M | 878.04M | 648.65M | 631.51M | 801.66M |
| Gross Profit | 860.04M | 730.07M | 352.10M | 222.08M | 240.17M | 297.30M |
| EBITDA | 45.24M | 72.35M | -58.15M | -100.42M | -37.04M | 45.05M |
| Net Income | 22.19M | 35.48M | -64.73M | -17.22M | 17.88M | -9.42M |
Balance Sheet | ||||||
| Total Assets | 644.97M | 797.64M | 876.75M | 761.11M | 717.09M | 718.33M |
| Cash, Cash Equivalents and Short-Term Investments | 115.85M | 255.91M | 408.60M | 341.28M | 314.28M | 504.77M |
| Total Debt | 179.28M | 353.66M | 187.35M | 175.90M | 165.60M | 43.45M |
| Total Liabilities | 380.61M | 536.90M | 646.99M | 492.86M | 456.95M | 446.98M |
| Stockholders Equity | -45.79M | -127.36M | -421.38M | 152.66M | 137.46M | 126.32M |
Cash Flow | ||||||
| Free Cash Flow | 88.10M | 30.48M | 206.98M | 88.28M | -44.33M | 233.45M |
| Operating Cash Flow | 94.30M | 34.79M | 223.36M | 145.88M | -17.77M | 234.91M |
| Investing Cash Flow | -25.06M | 51.74M | -98.00K | -5.82M | -166.23M | -2.44M |
| Financing Cash Flow | -96.53M | -168.57M | -137.25M | -67.02M | -136.77M | -55.02M |
Perella Weinberg Partners Technical Analysis
Negative
16.95
Price Trends
15.18
Negative
15.57
Negative
17.50
Negative
Market Momentum
-0.66
Positive
36.09
Neutral
8.12
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PWP, the sentiment is Negative. The current price of 16.95 is above the 20-day moving average (MA) of 14.65, above the 50-day MA of 15.18, and below the 200-day MA of 17.50, indicating a bearish trend. The MACD of -0.66 indicates Positive momentum. The RSI at 36.09 is Neutral, neither overbought nor oversold. The STOCH value of 8.12 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PWP.
Perella Weinberg Partners Risk Analysis
Perella Weinberg Partners disclosed 40 risk factors in its most recent earnings report. Perella Weinberg Partners reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Perella Weinberg Partners Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $4.37B | 17.51 | 43.55% | 4.90% | 13.69% | 12.33% | |
71 Outperform | $2.47B | 2,400.00 | -14.68% | 0.28% | ― | ― | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $9.70B | 13.13 | 39.83% | 1.37% | 45.68% | 59.92% | |
63 Neutral | $3.57B | 16.34 | 25.84% | 5.35% | 5.74% | -30.53% | |
59 Neutral | $10.34B | 11.58 | 8.81% | 3.55% | 26.48% | 29.87% | |
53 Neutral | $1.21B | 38.22 | -14.08% | 2.25% | -20.87% | -66.62% |
* Financial Sector Average
PWP
Perella Weinberg Partners
12.76
-6.34
-33.18%
EVR
Evercore Partners
255.39
-58.90
-18.74%
JEF
Jefferies
45.64
-7.65
-14.36%
LAZ
Lazard
37.30
-9.83
-20.85%
MC
Moelis
55.06
-11.22
-16.92%
LCLN
Lincoln International, Inc. Class A
24.58
2.12
9.45%
Perella Weinberg Partners Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Perella Weinberg Partners Issues Additional Class A Shares
Neutral
Sep 3, 2026
On September 1, 2026, Perella Weinberg Partners issued 1,999,015 shares of Class A common stock in exchange for 1,997,030 Class A partnership units of PWP Holdings LP and an equal number of Class B common shares held by certain limited partners. T...
Business Operations and StrategyRegulatory Filings and Compliance
Perella Weinberg Files Prospectus for Shareholder Stock Resale
Neutral
Sep 1, 2026
On September 1, 2026, Perella Weinberg Partners filed a prospectus supplement with the U.S. Securities and Exchange Commission to enable the resale from time to time by certain stockholders of 1,127,529 shares of its Class A common stock. The fili...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.