Stock fact sheet · data as of
PJT Partners Inc. (PJT): fair value, margin of safety and Wheel Score
Financial Services · Investment - Banking & Investment Services · United States · High Growth
Is PJT undervalued?
At 132.18 (close of 16 Oct 2026), PJT trades 51% below the GLS average fair value of 267.10. That average comes from 9 models run on the latest filings, and 5 of them land above the current price. Margins of safety over 30% are the exception rather than the rule across the ~7,400 stocks we value each night, so the number earns PJT Partners Inc. the full Value points in the Wheel Score - and a closer look at what the market is pricing in.
The 9 models disagree widely: DDM gives 14.71 while Payback Time gives 744.44. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files PJT under High Growth: revenue and earnings growing fast enough that the growth-based models carry the valuation.
Nine valuation models for PJT
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 150.18 | +14% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 44.61 | -66% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 268.01 | +103% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 105.09 | -20% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 460.37 | +248% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 532.98 | +303% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 744.44 | +463% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 14.71 | -89% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 83.56 | -37% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | 3.60 | -97% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 175.25 | +33% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
On financial health PJT scores 7/9 (Piotroski): most of the nine tests - positive earnings and cash flow, falling debt, rising margins and turnover - are passed, which is the kind of balance sheet a wheel trader is happy to be assigned. The GLS Moat score is 6.8 out of 10: a ten-year record that is consistent in some of the metrics the score tracks (revenue, earnings, margins, cash flow, returns on capital) and patchy in others.
Returns on capital are high - ROIC 24.9%, ROE 58.4%, ROA 9.4% - with debt at 1.34 times equity and a free-cash-flow yield of 19.6%.
The dividend yield is 0.76% with a payout ratio of 13% - a small yield that leaves most of the earnings in the business. Revenue comes mainly from Advisory Fees 89%, Placement Fees 10%, Interest Income and Other 2% (quarter Q4 FY2025).
Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded insider buy was on 16 Sep 2026.
| Piotroski F-score | 7 / 9 | ROIC | 24.9% |
|---|---|---|---|
| GLS Moat | 6.8 / 10 | ROE | 58.4% |
| Debt / equity | 1.34 | ROA | 9.4% |
| Free-cash-flow yield | 19.6% | Payout ratio | 13% |
| Institutions | 10 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 85: Prime
PJT scores 85 out of 100 on the Wheel Score, in the Prime band (80 and above), which fewer than one stock in twenty reaches on any night. The score blends five things a wheel trader checks before selling a cash-secured put: the margin of safety (Value, 25/25), Piotroski health (16/20), the GLS moat (10/15), the option premium on offer (20/20) and how easily the stock trades (14/20).
Implied volatility is 45% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is thin - 523 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 451k shares a day on a market cap of $3.4B, with a beta of 0.88; the Stability part of the Wheel Score gives that 14 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 51% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 10 / 15 | moat 6.8/10 | |
| Premium | 20 / 20 | implied volatility 45% | |
| Stability | 14 / 20 | 451k shares/day, $3.4B cap, beta 0.88 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 3 Nov 2026 (before the open), 18 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Investment - Banking & Investment Services
The 8 companies below are the closest to PJT Partners Inc. by market cap within the Investment - Banking & Investment Services industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| PIPR Piper Sandler Companies | 64.48 | 137.37 | +53% | 83Prime | $4.6B |
| HLI Houlihan Lokey, Inc. | 128.51 | 165.16 | +22% | 77Good | $9.0B |
| BRBI BRBI BR Partners S.A. ADSs | 14.39 | 23.31 | +38% | 31No options | $378M |
| CURN Currency Exchange International, Corp. | 21.85 | 38.49 | +43% | 39No options | $129M |
| BNY Bank of New York Mellon Corp | 142.09 | 142.53 | +0% | 65Good | $96.4B |
| IBKR Interactive Brokers Group, Inc. | 86.03 | 198.39 | +57% | 90Prime | $151.2B |
| STEX Streamex Corp. | 0.4301 | - | - | 34Weak | $50M |
| AMTD AMTD IDEA Group | 0.5675 | 45.83 | +99% | 39No options | $4M |
⚖ Compare PJT with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about PJT
Is PJT undervalued right now?
By the GLS models, yes: at 132.18 the stock is 51% below the average fair value of 267.10 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of PJT and what does it mean?
PJT scores 85 out of 100 (Prime). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for PJT?
267.10 per share as of 16 Oct 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does PJT Partners Inc. report earnings next?
The next earnings report is due on 3 Nov 2026 (before the open), 18 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does PJT have listed options, and how liquid are they?
Yes. The nightly snapshot found 256 listed contracts with 523 open interest across all expiries and implied volatility of 45% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.