Perella Weinberg Partners (PWP) Financials

$18.41 +0.43 (+2.39%)

Closing price 04:00 PM Eastern

Extended Trading

$18.40 -0.01 (-0.05%)

As of 04:10 PM Eastern

Annual Income Statements for Perella Weinberg Partners

This table shows Perella Weinberg Partners' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	0.00	-24	-9.42	18	-17	-65	35
Consolidated Net Income / (Loss)	-164	-24	4.02	-32	-112	-89	48
Net Income / (Loss) Continuing Operations	-164	-24	4.02	-32	-112	-89	48
Total Pre-Tax Income	-162	-21	23	-21	-113	-68	52
Total Operating Income	-155	-15	67	-48	-115	-79	48
Total Gross Profit	-9.82	120	201	86	40	94	216
Total Revenue	533	519	802	632	649	878	751
Operating Revenue	533	519	802	632	649	878	751
Total Cost of Revenue	543	399	601	545	609	784	535
Operating Cost of Revenue	543	399	601	545	609	784	535
Total Operating Expenses	145	134	134	134	155	172	168
Selling, General & Admin Expense	82	85	87	85	94	108	99
Depreciation Expense	16	16	14	11	15	20	21
Other Operating Expenses / (Income)	47	34	33	38	46	44	47
Total Other Income / (Expense), net	-6.48	-6.29	-44	26	2.28	10	3.51
Other Income / (Expense), net	8.92	9.45	3.38	26	2.28	10	3.51
Income Tax Expense	2.42	3.45	19	10	-0.98	21	3.51
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	0.00	13	-50	-95	-25	13
Basic Earnings per Share	$0.00	$0.00	($0.22)	$0.41	($0.40)	($1.22)	$0.55
Weighted Average Basic Shares Outstanding	0.00	0.00	42.60M	43.84M	43.27M	53.19M	64.21M
Diluted Earnings per Share	$0.00	$0.00	($0.66)	($0.46)	($1.33)	($1.22)	$0.47
Weighted Average Diluted Shares Outstanding	0.00	0.00	92.75M	89.76M	86.78M	53.19M	100.85M
Weighted Average Basic & Diluted Shares Outstanding	6.87M	23M	93.26M	85.39M	86.32M	86.79M	91.79M

This table shows Perella Weinberg Partners' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-2.05	-10	-36	-66	16	21	17	2.74	6.00	9.40	1.49
Consolidated Net Income / (Loss)	-24	-42	-70	-81	29	33	21	4.27	8.57	14	-0.75
Net Income / (Loss) Continuing Operations	-24	-42	-70	-81	29	33	21	4.27	8.57	14	-0.75
Total Pre-Tax Income	-24	-44	-51	-81	36	28	12	6.25	12	22	-11
Total Operating Income	-27	-44	-54	-82	36	21	12	8.95	8.87	19	-13
Total Gross Profit	11	-2.44	-13	-38	76	70	63	47	48	58	27
Total Revenue	139	213	102	272	278	226	212	155	165	219	149
Operating Revenue	139	213	102	272	278	226	212	155	165	219	149
Total Cost of Revenue	128	215	115	310	202	156	149	108	116	161	122
Operating Cost of Revenue	128	215	115	310	202	156	149	108	116	161	122
Total Operating Expenses	38	42	40	44	40	48	51	38	39	39	40
Selling, General & Admin Expense	23	26	24	28	24	31	34	21	23	21	22
Depreciation Expense	3.69	4.51	5.08	5.11	5.13	5.06	5.00	5.05	5.02	5.76	5.83
Other Operating Expenses / (Income)	11	11	11	11	11	12	12	12	11	12	12
Total Other Income / (Expense), net	2.76	0.02	2.66	0.75	0.46	6.42	0.23	-2.70	2.72	3.25	2.26
Other Income / (Expense), net	2.76	0.02	2.66	0.75	0.46	6.42	0.23	-2.70	2.72	3.25	2.26
Income Tax Expense	-0.19	-1.53	19	-0.64	7.51	-4.87	-9.47	1.98	3.02	7.98	-9.90
Net Income / (Loss) Attributable to Noncontrolling Interest	-22	-32	-34	-15	12	12	4.03	1.53	2.56	4.40	-2.23
Basic Earnings per Share	($0.05)	($0.24)	($0.73)	($1.21)	$0.29	$0.43	$0.28	$0.04	$0.09	$0.14	$0.02
Weighted Average Basic Shares Outstanding	43.12M	43.27M	49.20M	54.59M	55.51M	53.19M	62.14M	63.06M	64.07M	64.21M	70.40M
Diluted Earnings per Share	($0.27)	($0.50)	($0.91)	($1.21)	$0.24	$0.66	$0.24	$0.04	$0.08	$0.11	$0.02
Weighted Average Diluted Shares Outstanding	86.65M	86.78M	90.52M	54.59M	69.80M	53.19M	75.84M	98.83M	100.23M	100.85M	101.18M
Weighted Average Basic & Diluted Shares Outstanding	86.15M	86.32M	94.21M	85.84M	88.16M	86.79M	88.38M	87.48M	88.81M	91.79M	92.93M

This table details how cash moves in and out of Perella Weinberg Partners' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-142	64	174	-331	76	83	-76
Net Cash From Operating Activities	-106	86	235	-18	146	223	35
Net Cash From Continuing Operating Activities	-106	86	235	-18	146	223	35
Net Income / (Loss) Continuing Operations	-164	-24	4.02	-32	-112	-89	48
Consolidated Net Income / (Loss)	-164	-24	4.02	-32	-112	-89	48
Depreciation Expense	16	16	14	11	15	20	21
Non-Cash Adjustments To Reconcile Net Income	210	45	161	154	201	206	124
Changes in Operating Assets and Liabilities, net	-171	46	55	-151	42	86	-158
Net Cash From Investing Activities	-7.27	-5.52	-2.44	-166	-5.82	-0.10	52
Net Cash From Continuing Investing Activities	-7.27	-5.52	-2.44	-166	-5.82	-0.10	52
Purchase of Property, Plant & Equipment	-7.42	-5.52	-1.46	-27	-58	-16	-4.31
Acquisitions	-	-	-	-	0.00	0.00	-19
Purchase of Investments	-	0.00	0.00	-139	-89	-75	0.00
Sale and/or Maturity of Investments	-	-	0.00	0.00	141	91	75
Other Investing Activities, net	0.15	0.00	-0.98	-0.50	0.49	0.00	0.00
Net Cash From Financing Activities	-30	-22	-55	-137	-67	-137	-169
Net Cash From Continuing Financing Activities	-30	-22	-55	-137	-67	-137	-169
Repayment of Debt	8.16	-32	-187	0.00	0.00	-2.28	0.00
Repurchase of Common Equity	0.00	0.00	-12	-68	-22	-15	-34
Payment of Dividends	-38	-12	-96	-57	-27	-39	-27
Issuance of Common Equity	-	0.00	0.00	35	0.00	66	0.00
Other Financing Activities, net	0.00	0.00	240	-46	-17	-147	-108
Effect of Exchange Rate Changes	1.64	5.93	-3.58	-9.84	2.89	-3.34	6.32
Cash Income Taxes Paid	1.68	2.24	13	26	4.57	10	9.24

This table details how cash moves in and out of Perella Weinberg Partners' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-3.21	121	-90	27	75	71	-220	34	40	70	-178
Net Cash From Operating Activities	38	158	-206	90	200	139	-177	56	59	96	-110
Net Cash From Continuing Operating Activities	38	158	-206	90	200	139	-177	56	59	96	-110
Net Income / (Loss) Continuing Operations	-24	-42	-70	-81	29	33	21	4.27	8.57	14	-0.75
Consolidated Net Income / (Loss)	-24	-42	-70	-81	29	33	21	4.27	8.57	14	-0.75
Depreciation Expense	3.69	4.51	5.08	5.11	5.13	5.06	5.00	5.05	5.02	5.76	5.83
Non-Cash Adjustments To Reconcile Net Income	46	55	50	96	35	25	31	35	29	29	35
Changes in Operating Assets and Liabilities, net	12	142	-191	69	131	77	-234	12	17	47	-149
Net Cash From Investing Activities	-30	-32	83	-6.26	-76	-0.66	74	-0.79	-1.52	-20	-2.06
Net Cash From Continuing Investing Activities	-30	-32	83	-6.26	-76	-0.66	74	-0.79	-1.52	-20	-2.06
Purchase of Property, Plant & Equipment	-11	-12	-8.46	-6.26	-0.99	-0.66	-1.04	-0.79	-1.52	-0.96	-2.06
Sale and/or Maturity of Investments	-	-	91	-	-	-	75	-	-	-	0.00
Net Cash From Financing Activities	-9.90	-7.04	34	-57	-51	-63	-121	-24	-18	-5.93	-64
Net Cash From Continuing Financing Activities	-9.90	-7.04	34	-57	-51	-63	-121	-24	-18	-5.93	-64
Repurchase of Common Equity	-	-	0.00	-15	-	-	-14	-17	-1.91	-	0.00
Payment of Dividends	-6.00	-6.00	-7.63	-6.20	-15	-10	-8.35	-4.40	-9.75	-4.65	-8.63
Other Financing Activities, net	-3.90	-1.03	-25	-33	-37	-53	-98	-2.22	-6.26	-1.28	-55
Effect of Exchange Rate Changes	-0.99	1.67	-0.66	-0.10	2.04	-4.61	3.18	2.27	0.77	0.10	-2.71
Cash Income Taxes Paid	0.25	0.13	0.70	0.34	-2.07	11	9.60	-0.36	-0.40	0.39	-0.17

This table presents Perella Weinberg Partners' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	0.07	543	718	717	761	877	798
Total Current Assets	0.01	396	574	419	421	511	366
Cash & Equivalents	0.01	329	503	172	247	332	256
Accounts Receivable	-	41	47	71	51	74	63
Prepaid Expenses	0.00	26	24	36	31	29	47
Plant, Property, & Equipment, net	0.00	17	10	48	94	85	77
Total Noncurrent Assets	0.05	130	134	250	247	281	354
Goodwill	-	34	34	34	34	34	73
Intangible Assets	-	39	32	26	19	13	13
Noncurrent Deferred & Refundable Income Taxes	-	1.21	21	33	46	93	130
Other Noncurrent Operating Assets	0.05	56	46	156	147	141	140
Total Liabilities & Shareholders' Equity	0.07	543	718	717	761	877	798
Total Liabilities	0.04	469	447	457	493	647	537
Total Current Liabilities	0.04	22	31	51	52	69	47
Accounts Payable	-	22	31	51	52	69	47
Total Noncurrent Liabilities	0.00	447	416	406	441	578	490
Noncurrent Employee Benefit Liabilities	-	231	323	217	234	325	210
Other Noncurrent Operating Liabilities	-	58	85	189	207	253	280
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	0.00	-	-	-	0.00	651	388
Total Equity & Noncontrolling Interests	0.02	74	271	260	268	-421	-127
Total Preferred & Common Equity	0.02	74	126	137	153	-421	-127
Preferred Stock	0.00	-	0.00	0.00	0.00	0.00	0.00
Total Common Equity	0.02	74	126	137	153	-421	-127
Common Stock	0.03	77	158	242	313	0.01	144
Retained Earnings	-0.00	0.00	-18	-18	-55	-304	-131
Treasury Stock	-	0.00	-12	-80	-101	-111	-138
Accumulated Other Comprehensive Income / (Loss)	-	-2.33	-1.75	-6.54	-4.48	-6.19	-2.52

This table presents Perella Weinberg Partners' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	632	525	582	634	584	646	811	570	607	650	596
Total Current Assets	355	212	265	308	246	312	462	200	229	263	162
Cash & Equivalents	143	105	130	127	157	185	260	111	145	186	78
Accounts Receivable	47	45	51	72	61	94	91	47	48	41	34
Prepaid Expenses	26	37	34	40	28	32	36	42	36	36	50
Plant, Property, & Equipment, net	21	61	71	82	93	91	89	82	81	79	75
Total Noncurrent Assets	256	251	243	243	245	243	260	288	297	308	359
Goodwill	34	34	34	34	34	34	34	34	34	34	73
Intangible Assets	27	24	22	21	18	16	14	11	9.32	7.68	10
Noncurrent Deferred & Refundable Income Taxes	32	36	36	41	48	52	66	104	115	128	140
Other Noncurrent Operating Assets	162	157	150	147	144	141	145	139	138	138	136
Total Liabilities & Shareholders' Equity	632	525	582	634	584	646	811	570	607	650	596
Total Liabilities	357	275	324	369	305	422	569	409	431	450	368
Total Current Liabilities	34	42	35	45	60	74	85	73	63	47	42
Accounts Payable	34	42	35	45	60	74	85	73	63	47	42
Total Noncurrent Liabilities	323	234	289	325	245	348	485	336	367	403	325
Noncurrent Employee Benefit Liabilities	136	37	90	119	34	133	250	85	107	132	49
Other Noncurrent Operating Liabilities	183	194	196	204	210	215	235	251	261	271	276
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	-	506	603	485	495	503	383
Total Equity & Noncontrolling Interests	274	249	258	265	279	-283	-361	-323	-318	-302	-155
Total Preferred & Common Equity	140	133	141	144	162	-283	-361	-323	-318	-302	-155
Preferred Stock	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	140	133	141	144	162	-283	-361	-323	-318	-302	-155
Common Stock	226	261	279	291	362	4.13	0.01	0.01	0.01	0.01	119
Retained Earnings	-12	-28	-33	-40	-96	-168	-246	-198	-179	-162	-136
Treasury Stock	-65	-94	-101	-101	-99	-114	-111	-121	-138	-138	-135
Accumulated Other Comprehensive Income / (Loss)	-8.29	-5.75	-4.82	-6.21	-5.11	-5.17	-2.87	-4.26	-0.72	-2.06	-3.81

This table displays calculated financial ratios and metrics derived from Perella Weinberg Partners' official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	88,808,922.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	88,808,922.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	0.40
Growth Metrics	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	-109	-10	12	-33	-81	-55	45
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-12.84%	-30.04%	13.05%	-35.13%
Earnings before Interest and Taxes (EBIT)	-146	-5.15	70	-21	-113	-68	52
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-127	14	84	-11	-98	-48	72
Valuation Ratios	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	98	135	-213	-62	53	-138
Efficiency Ratios	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.01	-108	-231	-52	-70	-178	4.83
Increase / (Decrease) in Invested Capital	0.00	-108	-124	180	-19	-108	182
Book Value per Share	$0.00	$2.36	$1.36	$1.57	$1.77	($4.78)	($1.43)
Tangible Book Value per Share	$0.00	$0.03	$0.64	$0.89	$1.15	($5.31)	($2.39)
Total Capital	0.02	221	271	260	268	230	261
Total Debt	0.00	147	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	147	0.00	0.00	0.00	0.00	0.00
Net Debt	-0.01	-182	-503	-312	-338	-407	-256
Capital Expenditures (CapEx)	7.42	5.52	1.46	27	58	16	4.31
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-0.04	44	40	56	30	35	63
Debt-free Net Working Capital (DFNWC)	-0.03	373	543	368	368	442	319
Net Working Capital (NWC)	-0.03	373	543	368	368	442	319
Net Nonoperating Expense (NNE)	55	14	7.65	-1.67	31	34	-3.27
Net Nonoperating Obligations (NNO)	-0.01	-182	-503	-312	-338	-407	-256
Total Depreciation and Amortization (D&A)	19	19	14	11	15	20	21
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.41	($0.40)	($1.22)	$0.55
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	43.84M	43.27M	53.19M	64.21M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	($0.46)	($1.33)	($1.22)	$0.47
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	89.76M	86.78M	53.19M	100.85M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	85.39M	86.32M	86.79M	91.79M
Normalized Net Operating Profit after Tax (NOPAT)	-109	-10	47	-33	-81	-55	45
Debt Service Ratios	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from Perella Weinberg Partners' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	88,808,922.00	91,791,594.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	88,808,922.00	91,791,594.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.11	0.02
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-4.39%	16.12%	-22.29%	64.30%	100.17%	6.11%	107.42%	-42.92%	-40.83%	-	-29.70%
EBITDA Growth	-246.97%	-93.82%	-137.45%	-298.35%	305.00%	183.30%	136.88%	114.79%	-59.95%	-	-128.47%
EBIT Growth	-188.68%	-91.18%	-129.99%	-257.20%	251.91%	163.23%	123.37%	107.67%	-68.12%	-	-189.44%
NOPAT Growth	-202.70%	-124.97%	-136.06%	-278.04%	252.43%	181.61%	155.90%	110.62%	-76.99%	-	-143.09%
Net Income Growth	-84.60%	-87.61%	-155.29%	-342.50%	221.51%	177.00%	130.53%	105.28%	-70.30%	-	-103.49%
EPS Growth	-42.11%	0.00%	-145.95%	-536.84%	188.89%	232.00%	126.37%	103.31%	-66.67%	-	-91.67%
Operating Cash Flow Growth	-18.61%	95.71%	-56.39%	10.34%	428.61%	-11.96%	14.45%	-37.64%	-70.46%	-	37.85%
Free Cash Flow Firm Growth	38.06%	93.69%	43.86%	76.11%	301.30%	1,185.67%	327.92%	163.69%	-153.57%	-	-217.61%
Invested Capital Growth	1,005.52%	-36.01%	2.72%	-49.19%	-236.92%	-153.39%	-58.75%	-18.50%	116.04%	-	198.46%
Revenue Q/Q Growth	-16.03%	53.00%	-51.98%	166.33%	2.30%	-18.89%	-6.13%	-26.70%	6.04%	-	-32.05%
EBITDA Q/Q Growth	-5.53%	-94.88%	-17.03%	-66.67%	154.31%	-20.81%	-48.55%	-33.14%	47.01%	-	-117.47%
EBIT Q/Q Growth	-4.89%	-83.64%	-16.58%	-60.07%	144.61%	-23.56%	-57.18%	-47.49%	85.47%	-	-148.86%
NOPAT Q/Q Growth	-22.71%	-64.72%	-21.83%	-53.52%	149.48%	-11.82%	-16.55%	-70.84%	7.22%	-	-176.95%
Net Income Q/Q Growth	-29.93%	-78.67%	-65.05%	-15.49%	135.68%	13.23%	-34.56%	-80.03%	100.68%	-	-105.40%
EPS Q/Q Growth	-42.11%	-85.19%	-82.00%	-32.97%	119.83%	175.00%	-63.64%	-83.33%	100.00%	-	-81.82%
Operating Cash Flow Q/Q Growth	-53.56%	318.02%	-230.30%	143.62%	122.49%	-30.38%	-226.60%	131.80%	5.40%	-	-214.25%
Free Cash Flow Firm Q/Q Growth	-9.16%	87.07%	-233.37%	49.25%	1,019.87%	-30.24%	-30.02%	-85.82%	-873.69%	-	36.05%
Invested Capital Q/Q Growth	-9.03%	-202.74%	274.51%	-68.85%	-345.13%	-90.13%	128.41%	-38.45%	-51.75%	-	3,015.47%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	8.09%	-1.15%	-12.99%	-14.14%	27.29%	30.84%	29.55%	30.24%	29.34%	-	18.03%
EBITDA Margin	-14.56%	-18.54%	-44.87%	-28.08%	14.91%	14.56%	7.98%	7.28%	10.09%	-	-3.23%
Operating Margin	-19.20%	-20.67%	-52.45%	-30.23%	12.90%	9.47%	5.51%	5.76%	5.39%	-	-8.66%
EBIT Margin	-17.21%	-20.66%	-49.85%	-29.96%	13.06%	12.31%	5.62%	4.02%	7.04%	-	-7.15%
Profit (Net Income) Margin	-17.08%	-19.94%	-68.54%	-29.72%	10.37%	14.47%	10.09%	2.75%	5.20%	-	-0.50%
Tax Burden Percent	99.20%	96.51%	137.51%	99.21%	79.35%	117.53%	179.62%	68.31%	73.91%	-	7.00%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	-	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	20.65%	-17.53%	-79.62%	31.69%	26.09%	-	0.00%
Return on Invested Capital (ROIC)	-274.22%	0.00%	-188.37%	-271.58%	0.00%	0.00%	113.12%	99.14%	0.00%	-	-41.50%
ROIC Less NNEP Spread (ROIC-NNEP)	-272.11%	0.00%	-165.69%	-258.95%	0.00%	0.00%	112.81%	100.26%	0.00%	-	-50.27%
Return on Net Nonoperating Assets (RNNOA)	241.47%	0.00%	89.94%	198.14%	0.00%	0.00%	-68.58%	-82.90%	0.00%	-	24.35%
Return on Equity (ROE)	-32.76%	-42.33%	-98.44%	-73.45%	-64.92%	-35.88%	44.54%	16.24%	30.24%	-	-17.15%
Cash Return on Invested Capital (CROIC)	-204.07%	0.00%	-87.33%	-190.29%	0.00%	0.00%	72.41%	258.86%	-328.96%	-	-78.78%
Operating Return on Assets (OROA)	-16.84%	-18.13%	-55.72%	-35.43%	15.64%	13.20%	9.62%	5.60%	7.30%	-	-8.43%
Return on Assets (ROA)	-16.71%	-17.50%	-76.62%	-35.15%	12.41%	15.52%	17.27%	3.82%	5.39%	-	-0.59%
Return on Common Equity (ROCE)	-17.27%	-23.24%	-55.04%	21.68%	27.75%	19.36%	-16.29%	-24.45%	-45.34%	-	21.01%
Return on Equity Simple (ROE_SIMPLE)	-63.80%	0.00%	-95.37%	76.68%	45.57%	0.00%	-0.63%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	-19	-31	-37	-58	28	25	21	6.11	6.55	12	-9.03
NOPAT Margin	-13.44%	-14.47%	-36.71%	-21.16%	10.24%	11.13%	9.89%	3.94%	3.98%	-	-6.06%
Net Nonoperating Expense Percent (NNEP)	-2.11%	-3.58%	-22.68%	-12.63%	0.14%	2.02%	0.31%	-1.12%	0.77%	-	8.77%
Return On Investment Capital (ROIC_SIMPLE)	-	-11.47%	-	-	-	-5.96%	-6.49%	-1.92%	-2.17%	-9.22%	5.84%
Cost of Revenue to Revenue	91.91%	101.15%	112.99%	114.14%	72.71%	69.16%	70.45%	69.76%	70.66%	-	81.97%
SG&A Expenses to Revenue	16.79%	12.03%	23.84%	10.33%	8.71%	13.79%	16.03%	13.54%	13.98%	-	14.86%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Operating Expenses to Revenue	27.29%	19.52%	39.45%	16.09%	14.39%	21.38%	24.04%	24.48%	23.95%	-	26.70%
Earnings before Interest and Taxes (EBIT)	-24	-44	-51	-81	36	28	12	6.25	12	22	-11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-20	-39	-46	-76	41	33	17	11	17	28	-4.81
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.91	6.77	7.48	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Price to Tangible Book Value (P/TBV)	9.57	10.43	11.02	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Price to Revenue (P/Rev)	1.38	1.59	1.96	2.11	1.92	2.39	1.62	1.97	2.46	-	2.42
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	30.00	39.80	-	84.94
Dividend Yield	2.81%	2.33%	1.99%	1.72%	1.45%	1.18%	1.90%	1.80%	1.31%	-	1.54%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.33%	2.51%	-	1.18%
Enterprise Value to Invested Capital (EV/IC)	11.38	0.00	9.58	48.59	0.00	0.00	39.05	66.51	145.64	-	13.10
Enterprise Value to Revenue (EV/Rev)	1.25	1.25	1.89	2.55	2.23	2.66	2.00	2.37	2.88	-	2.87
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	132.70	20.15	28.10	-	38.95
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	25.11	37.94	-	68.07
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	25.05	36.92	-	94.18
Enterprise Value to Operating Cash Flow (EV/OCF)	11.34	5.56	16.40	23.17	7.94	10.47	7.78	9.42	27.91	-	19.41
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	31.58	44.52	31.50	23.08	0.00	-	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Financial Leverage	-0.89	-1.23	-0.54	-0.77	-1.05	-1.50	-0.61	-0.83	-1.18	-	-0.48
Leverage Ratio	2.35	2.80	2.10	2.55	2.85	3.29	2.62	3.13	3.30	-	2.99
Compound Leverage Factor	2.35	2.80	2.10	2.55	2.85	3.29	2.62	3.13	3.30	-	2.99
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Noncontrolling Interests to Total Capital	45.53%	43.09%	41.97%	226.67%	249.25%	283.39%	299.82%	280.82%	250.81%	-	167.78%
Common Equity to Total Capital	54.47%	56.91%	58.03%	-126.67%	-149.25%	-183.39%	-199.82%	-180.82%	-150.81%	-	-67.78%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Altman Z-Score	2.65	2.40	3.31	2.96	3.10	3.17	3.93	3.77	3.76	-	3.74
Noncontrolling Interest Sharing Ratio	47.26%	45.09%	44.09%	129.51%	142.75%	153.96%	136.58%	250.54%	249.96%	-	222.53%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	6.89	8.07	4.11	4.21	5.46	7.42	2.73	3.61	5.58	-	3.84
Quick Ratio	6.01	7.48	3.65	3.77	5.04	6.99	2.17	3.05	4.81	-	2.65
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-94	-12	-41	-21	190	133	93	13	-102	-171	-109
Operating Cash Flow to CapEx	354.89%	1,309.45%	-2,438.78%	1,437.15%	20,167.67%	21,189.97%	-16,908.14%	7,131.77%	3,894.54%	-	-5,315.26%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.98	0.88	1.12	1.18	1.20	1.07	1.71	1.39	1.04	-	1.18
Accounts Receivable Turnover	10.40	10.58	11.59	10.01	10.58	13.96	18.18	12.23	11.44	-	16.93
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Fixed Asset Turnover	12.03	9.13	8.03	8.97	10.09	9.84	11.28	10.16	9.02	-	8.76
Accounts Payable Turnover	14.17	11.77	11.96	14.13	13.03	12.96	12.30	8.97	8.04	-	8.81
Days Sales Outstanding (DSO)	35.11	34.50	31.49	36.48	34.49	26.14	20.08	29.85	31.91	-	21.56
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Days Payable Outstanding (DPO)	25.77	31.01	30.53	25.84	28.01	28.16	29.66	40.70	45.39	-	41.43
Cash Conversion Cycle (CCC)	9.34	3.49	0.96	10.64	6.49	-2.02	-9.59	-10.85	-13.48	-	-19.87
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	68	-70	122	38	-93	-178	50	31	15	4.83	151
Invested Capital Turnover	20.40	-10.67	5.13	12.83	-68.68	-7.09	11.43	25.18	-19.31	-	6.84
Increase / (Decrease) in Invested Capital	76	-19	3.23	-37	-162	-108	-72	-7.05	108	182	100
Enterprise Value (EV)	776	811	1,172	1,852	1,925	2,339	1,971	2,066	2,182	-	1,972
Market Capitalization	852	1,033	1,212	1,531	1,658	2,096	1,597	1,716	1,865	-	1,667
Book Value per Share	$1.69	$1.77	$3.29	($3.00)	($4.20)	($4.78)	($3.72)	($3.60)	($3.46)	($1.43)	($1.69)
Tangible Book Value per Share	$1.04	$1.15	$2.24	($3.54)	($4.77)	($5.31)	($4.25)	($4.10)	($3.94)	($2.39)	($2.59)
Total Capital	265	268	279	223	242	230	162	176	201	261	228
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-197	-338	-157	-185	-335	-407	-111	-145	-186	-256	-78
Capital Expenditures (CapEx)	11	12	8.46	6.26	0.99	0.66	1.04	0.79	1.52	0.96	2.06
Debt-free, Cash-free Net Working Capital (DFCFNWC)	67	30	30	52	43	35	16	21	30	63	42
Debt-free Net Working Capital (DFNWC)	264	368	186	238	378	442	127	166	216	319	120
Net Working Capital (NWC)	264	368	186	238	378	442	127	166	216	319	120
Net Nonoperating Expense (NNE)	5.05	12	33	23	-0.36	-7.54	-0.41	1.84	-2.01	-2.06	-8.29
Net Nonoperating Obligations (NNO)	-197	-338	-157	-185	-335	-407	-111	-145	-186	-256	-78
Total Depreciation and Amortization (D&A)	3.69	4.51	5.08	5.11	5.13	5.06	5.00	5.05	5.02	5.76	5.83
Debt-free, Cash-free Net Working Capital to Revenue	10.85%	4.64%	4.76%	7.20%	4.93%	3.96%	1.59%	2.36%	3.99%	-	6.11%
Debt-free Net Working Capital to Revenue	42.60%	56.80%	30.06%	32.73%	43.67%	50.35%	12.85%	19.01%	28.49%	-	17.40%
Net Working Capital to Revenue	42.60%	56.80%	30.06%	32.73%	43.67%	50.35%	12.85%	19.01%	28.49%	-	17.40%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.05)	($0.24)	($0.73)	($1.21)	$0.29	$0.43	$0.28	$0.04	$0.09	$0.14	$0.02
Adjusted Weighted Average Basic Shares Outstanding	43.12M	43.27M	49.20M	54.59M	55.51M	53.19M	62.14M	63.06M	64.07M	64.21M	70.40M
Adjusted Diluted Earnings per Share	($0.27)	($0.50)	($0.91)	($1.21)	$0.24	$0.66	$0.24	$0.04	$0.08	$0.11	$0.02
Adjusted Weighted Average Diluted Shares Outstanding	86.65M	86.78M	90.52M	54.59M	69.80M	53.19M	75.84M	98.83M	100.23M	100.85M	101.18M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	86.15M	86.32M	94.21M	85.84M	88.16M	86.79M	88.38M	87.48M	88.81M	91.79M	92.93M
Normalized Net Operating Profit after Tax (NOPAT)	-19	-31	-37	-58	28	15	8.17	6.11	6.55	12	-9.03
Normalized NOPAT Margin	-13.44%	-14.47%	-36.71%	-21.16%	10.24%	6.63%	3.86%	3.94%	3.98%	-	-6.06%
Pre Tax Income Margin	-17.21%	-20.66%	-49.85%	-29.96%	13.06%	12.31%	5.62%	4.02%	7.04%	-	-7.15%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-43.46%	-24.42%	-18.32%	-11.90%	-20.93%	-43.15%	1,935.73%	43.00%	48.81%	-	105.96%
Augmented Payout Ratio	-84.06%	-44.53%	-23.33%	-18.81%	-30.06%	-59.94%	3,386.79%	79.44%	99.14%	-	180.19%

Financials Breakdown Chart

Key Financial Trends

Here is a concise, data-driven read on Perella Weinberg Partners (NASDAQ:PWP) using the quarterly statements provided for the last four years. The core themes are: strong but uneven cash flow, earnings volatility, and a balance sheet with notable equity challenges despite growing asset base.

Strong cash flow in latest quarter: Q4 2025 net cash from continuing operating activities was about $96.0 million, signaling meaningful cash-generation capability even as the year progressed.
Profitability shows a positive turn in late 2025: Net income attributable to common shareholders rose to about $9.4 million in Q4 2025 (after losses earlier in the year), marking a notable improvement in bottom-line color.
Moderate capital spending supports cash preservation: Q4 2025 PPE purchases were modest at roughly $0.96 million, contributing to stronger free-cash-flow flavor for the quarter.
Revenue has been volatile but ranged around a similar band in late 2025: Quarterly operating revenue ranged from roughly $155M to $219M across 2025, with Q4 2025 at $219.16M and Q3 2025 at $164.65M.
Gross margins within a relatively tight band: gross margin has hovered in the mid-to-high 20s percent in these quarters (roughly 26%–31%), indicating relatively steady per-dollar profitability on revenue.
Balance-sheet equity stress persists: In Q3 2025, total equity was reported negative at about -$302.4 million, indicating an equity deficit despite growing assets.
Significant redeemable/noncontrolling interests add leverage-like complexity: Redeemable noncontrolling interest stood around $502.9 million in late 2025, highlighting substantial noncontrolling financing/claims on the business.
Earnings volatility remains a concern: The year started with sizable losses (e.g., Q1 2025 to common shareholders around -$35.8M; Q2 2025 around -$66.0M), then moved to modest profits (Q3 2025 to common shareholders about $6.0M; Q4 2025 about $9.4M).
Financing activities consistently negative in several periods: Net cash from financing activities was negative in multiple quarters (e.g., Q3 2025 around -$17.9M; Q2 2025 around -$23.9M; Q4 2025 around -$5.9M), suggesting ongoing reliance on external funding sources.
EPS and share-count dynamics imply dilution pressure amid modest earnings: Diluted earnings per share have been modest and variable across quarters, reflecting both small absolute earnings and changing share counts in several periods.

Bottom line for retail investors: PWP’s recent quarters show a notable cash-flow improvement and a shift toward positive net income, but the balance sheet displays an equity deficit and a large redeemable/noncontrolling interests line. The firm’s earnings have been volatile, and its financing activities have required external funding in several quarters. If you’re considering PWP, focus on whether the management team can sustain the cash-generating core while deleveraging the balance sheet and stabilizing earnings.

05/14/26 05:24 PM ETAI Generated. May Contain Errors.

Perella Weinberg Partners Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Perella Weinberg Partners' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Perella Weinberg Partners' net income appears to be on a downward trend, with a most recent value of $48.00 million in 2025, falling from -$164.02 million in 2019. The previous period was -$89.34 million in 2024. See where experts think Perella Weinberg Partners is headed by visiting Perella Weinberg Partners' forecast page.

Perella Weinberg Partners' total operating income in 2025 was $48.01 million, based on the following breakdown:

Total Gross Profit: $215.55 million
Total Operating Expenses: $167.54 million

Over the last 6 years, Perella Weinberg Partners' total revenue changed from $533.30 million in 2019 to $750.90 million in 2025, a change of 40.8%.

Perella Weinberg Partners' total liabilities were at $536.90 million at the end of 2025, a 17.0% decrease from 2024, and a 1,250,504.5% increase since 2019.

In the past 6 years, Perella Weinberg Partners' cash and equivalents has ranged from $10.76 thousand in 2019 to $502.77 million in 2021, and is currently $255.91 million as of their latest financial filing in 2025.

Over the last 6 years, Perella Weinberg Partners' book value per share changed from 0.00 in 2019 to -1.43 in 2025, a change of -43,557.6%.

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Financial statements for NASDAQ:PWP last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Perella Weinberg Partners (PWP) Financials

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Perella Weinberg Partners (PWP) Financials

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Perella Weinberg Partners Financials - Frequently Asked Questions

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How has Perella Weinberg Partners' revenue changed over the last 6 years?

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