Tearsheet

Perella Weinberg Partners (PWP)

Market Price (3/30/2026): $17.25 | Market Cap: $1.2 Bil
Sector: Financials | Industry: Diversified Capital Markets

Perella Weinberg Partners (PWP)

Market Price (3/30/2026): $17.25
Market Cap: $1.2 Bil
Sector: Financials
Industry: Diversified Capital Markets

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.4%, Dividend Yield is 2.3%	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12%	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 24x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 33x
1	Low stock price volatility Vol 12M is 46%		Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -14%, Rev Chg QQuarterly Revenue Change % is -2.9%
2	Megatrend and thematic drivers Megatrends include Digital & Alternative Assets. Themes include Private Equity, Private Credit, and Venture Capital.		Significant share based compensation SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 15%
3			Key risks PWP key risks include [1] high revenue volatility due to its dependence on advisory fees, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.4%, Dividend Yield is 2.3%
1	Low stock price volatility Vol 12M is 46%
2	Megatrend and thematic drivers Megatrends include Digital & Alternative Assets. Themes include Private Equity, Private Credit, and Venture Capital.
3	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12%
4	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 24x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 33x
5	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -14%, Rev Chg QQuarterly Revenue Change % is -2.9%
6	Significant share based compensation SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 15%
7	Key risks PWP key risks include [1] high revenue volatility due to its dependence on advisory fees, Show more.

Valuation, Metrics & Events

	3/30/26	2025	2024	2023	2022
Share Price CYE	$17.25	$17.30	$23.84	$12.23	$9.80
Market Cap CYE ($ Bil)	1.2	1.2	1.3	0.5	0.4
Total Debt ($ Bil)	0.2	0.2	0.2	0.2	0.2
Total Cash ($ Bil)	0.3	0.3	0.4	0.3	0.3
Enterprise Value ($ Bil)	1.1	1.4	1.5	0.7	0.6
Valuation Ratios
P/S TTM	1.6	1.6	1.5	0.8	0.7
P/EBIT TTM	24.3	24.3	-16.2	-4.8	-8.8
P/E TTM	32.8	32.9	-19.7	-31.9	23.4
P/FCF TTM	38.2	38.3	6.2	6.2	-9.4
Sector Ratios
P/S TTM (Sector)	2.9	3.0	3.1	2.8	2.8
P/EBIT TTM (Sector)	6.5	7.1	8.1	7.1	7.4
P/E TTM (Sector)	10.7	11.0	11.5	9.9	9.4
P/FCF TTM (Sector)	8.0	8.6	8.9	7.8	6.4

	3/30/26	2025	2024
Share Price CYE	$17.25	$17.30	$23.84
Market Cap CYE ($ Bil)	1.2	1.2	1.3
Total Debt ($ Bil)	0.2	0.2	0.2
Total Cash ($ Bil)	0.3	0.3	0.4
Enterprise Value ($ Bil)	1.1	1.4	1.5
Valuation Ratios
P/S TTM	1.6	1.6	1.5
P/EBIT TTM	24.3	24.3	-16.2
P/E TTM	32.8	32.9	-19.7
P/FCF TTM	38.2	38.3	6.2
Sector Ratios
P/S TTM (Sector)	2.9	3.0	3.1
P/EBIT TTM (Sector)	6.5	7.1	8.1
P/E TTM (Sector)	10.7	11.0	11.5
P/FCF TTM (Sector)	8.0	8.6	8.9

	PWP	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	0.8
Rev Chg Q	-2.9%	7.3%
Rev Chg LTM	-14.5%	6.7%
Rev Chg 3Y Avg	7.9%	5.7%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	0.0
CFO LTM ($ Bil)	0.0
Net Inc LTM ($ Bil)	0.0
Op Mgn LTM	6.4%	18.6%
CFO/Rev LTM	4.6%	20.7%
Net Inc Mgn	4.7%	12.8%
VALUATION	MODERATE
P/S	1.6	3.1
P/CFO	33.5	14.8
P/FCF	38.2	19.4
P/E	32.8	23.7

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Metric	Value	Date	Source
Number of Advisory Clients	135	9302025	Link
Number of Clients with Fees > $1.0 million	93	9302025	Link
Number of Partners Added Year-to-Date	12	11082025	Link
Number of Managing Directors Added Year-to-Date	9	11082025	Link
Number of Employees	approximately 700	11072025	Link
Assets Under Management (Agility)	approximately $13.5 billion	11072025	Link
Number of Active Engagements	Record	11072025	Link
Overall Pipeline	Record	11072025	Link

Upcoming
5/01/2026	Earnings Release	Rev: $186 Mil (E) EPS: $0.21 (E)

Price Chart

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Perella Weinberg Partners (PWP) stock has lost about 5% since 11/30/2025 because of the following key factors:

1. Perella Weinberg Partners experienced a significant 14% year-over-year decline in full-year 2025 revenues, falling to $751 million from a record $878 million in 2024. This reduction was primarily attributed to fewer anticipated M&A transaction closings, signaling a slowdown in the firm's core advisory business.

2. The company's Q3 2025 earnings report, released just before the specified period on November 7, 2025, showed a substantial revenue miss, with sales decreasing by 40.8% year-on-year to $164.6 million, missing analyst estimates by 8.4%. This performance, along with a non-GAAP profit miss of 10.3%, led to an immediate negative market reaction, with the stock falling 4.4% on that day.

3. Goldman Sachs lowered its price target for Perella Weinberg Partners from $21.50 to $18.50 on March 12, 2026, representing a 13.95% decrease, while maintaining a 'Sell' rating on the shares. This adjustment was made amid concerns over slowing investment banking volumes and increasing geopolitical uncertainty.

4. Broader macroeconomic headwinds, including the general underperformance of the financial services sector and investor concerns regarding the disruptive potential of artificial intelligence on advisory firms, exerted downward pressure on PWP's stock. Additionally, escalating geopolitical tensions in the Middle East contributed to a flight from riskier assets and a challenging environment for capital markets.

Updated on 3/17/2026 Show less

Stock Movement Drivers

3M

6M

1Y

3Y

Fundamental Drivers
The -5.3% change in PWP stock from 11/30/2025 to 3/29/2026 was primarily driven by a -23.6% change in the company's Net Income Margin (%).
(LTM values as of) 11302025 3292026 Change
Stock Price ($) 18.20 17.23 -5.3%
Change Contribution By:
Total Revenues ($ Mil) 757 751 -0.9%
Net Income Margin (%) 6.2% 4.7% -23.6%
P/E Multiple 24.9 32.8 31.8%
Shares Outstanding (Mil) 64 68 -5.1%
Cumulative Contribution -5.3%

LTM = Last Twelve Months as of date shown

Market Drivers
11/30/2025 to 3/29/2026
Return Correlation
PWP -5.3%
Market (SPY) -5.3% 49.4%
Sector (XLF) -10.0% 55.6%

Fundamental Drivers
The -21.6% change in PWP stock from 8/31/2025 to 3/29/2026 was primarily driven by a -28.1% change in the company's Net Income Margin (%).
(LTM values as of) 8312025 3292026 Change
Stock Price ($) 21.98 17.23 -21.6%
Change Contribution By:
Total Revenues ($ Mil) 871 751 -13.8%
Net Income Margin (%) 6.6% 4.7% -28.1%
P/E Multiple 24.2 32.8 35.4%
Shares Outstanding (Mil) 63 68 -6.6%
Cumulative Contribution -21.6%

LTM = Last Twelve Months as of date shown
Market Drivers
8/31/2025 to 3/29/2026
Return Correlation
PWP -21.6%
Market (SPY) 0.6% 48.3%
Sector (XLF) -10.8% 59.9%

Fundamental Drivers
The -24.4% change in PWP stock from 2/28/2025 to 3/29/2026 was primarily driven by a -20.9% change in the company's Shares Outstanding (Mil).
(LTM values as of) 2282025 3292026 Change
Stock Price ($) 22.79 17.23 -24.4%
Change Contribution By:
Total Revenues ($ Mil) 878 751 -14.5%
P/S Multiple 1.4 1.5 11.8%
Shares Outstanding (Mil) 53 68 -20.9%
Cumulative Contribution -24.4%

LTM = Last Twelve Months as of date shown
Market Drivers
2/28/2025 to 3/29/2026
Return Correlation
PWP -24.4%
Market (SPY) 9.8% 65.5%
Sector (XLF) -7.1% 68.1%

Fundamental Drivers
The 80.0% change in PWP stock from 2/28/2023 to 3/29/2026 was primarily driven by a 0.0% change in the company's P/E Multiple.
(LTM values as of) 2282023 3292026 Change
Stock Price ($) 9.57 17.23 80.0%
Change Contribution By:
Total Revenues ($ Mil) � 751 0.0%
Net Income Margin (%) � 4.7% 0.0%
P/E Multiple � 32.8 0.0%
Shares Outstanding (Mil) 43 68 -36.4%
Cumulative Contribution 0.0%

LTM = Last Twelve Months as of date shown
Market Drivers
2/28/2023 to 3/29/2026
Return Correlation
PWP 80.0%
Market (SPY) 69.4% 54.6%
Sector (XLF) 40.5% 59.5%

(LTM values as of)	11302025	3292026	Change
Stock Price ($)	18.20	17.23	-5.3%
Change Contribution By:
Total Revenues ($ Mil)	757	751	-0.9%
Net Income Margin (%)	6.2%	4.7%	-23.6%
P/E Multiple	24.9	32.8	31.8%
Shares Outstanding (Mil)	64	68	-5.1%
Cumulative Contribution			-5.3%

	Return	Correlation
PWP	-5.3%
Market (SPY)	-5.3%	49.4%
Sector (XLF)	-10.0%	55.6%

(LTM values as of)	8312025	3292026	Change
Stock Price ($)	21.98	17.23	-21.6%
Change Contribution By:
Total Revenues ($ Mil)	871	751	-13.8%
Net Income Margin (%)	6.6%	4.7%	-28.1%
P/E Multiple	24.2	32.8	35.4%
Shares Outstanding (Mil)	63	68	-6.6%
Cumulative Contribution			-21.6%

	Return	Correlation
PWP	-21.6%
Market (SPY)	0.6%	48.3%
Sector (XLF)	-10.8%	59.9%

(LTM values as of)	2282025	3292026	Change
Stock Price ($)	22.79	17.23	-24.4%
Change Contribution By:
Total Revenues ($ Mil)	878	751	-14.5%
P/S Multiple	1.4	1.5	11.8%
Shares Outstanding (Mil)	53	68	-20.9%
Cumulative Contribution			-24.4%

	Return	Correlation
PWP	-24.4%
Market (SPY)	9.8%	65.5%
Sector (XLF)	-7.1%	68.1%

(LTM values as of)	2282023	3292026	Change
Stock Price ($)	9.57	17.23	80.0%
Change Contribution By:
Total Revenues ($ Mil)	�	751	0.0%
Net Income Margin (%)	�	4.7%	0.0%
P/E Multiple	�	32.8	0.0%
Shares Outstanding (Mil)	43	68	-36.4%
Cumulative Contribution			0.0%

	Return	Correlation
PWP	80.0%
Market (SPY)	69.4%	54.6%
Sector (XLF)	40.5%	59.5%

Return vs. Risk

Price Returns Compared
2021 2022 2023 2024 2025 2026 Total [1]
Returns
PWP Return 15% -21% 28% 98% -26% 1% 72%
Peers Return 36% 0% 13% 84% -10% -11% 128%
S&P 500 Return 27% -19% 24% 23% 16% -5% 72%

Monthly Win Rates [3]
PWP Win Rate 67% 50% 50% 75% 42% 33%
Peers Win Rate 61% 36% 50% 61% 46% 47%
S&P 500 Win Rate 75% 42% 67% 75% 67% 33%

Max Drawdowns [4]
PWP Max Drawdown -10% -56% -27% -11% -35% -7%
Peers Max Drawdown -11% -19% -30% -25% -31% -28%
S&P 500 Max Drawdown -1% -25% -1% -2% -15% -5%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: BTGO, CD, TW, LPLA, CRCL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/27/2026 (YTD)

How Low Can It Go

Unique Key Event PWP S&P 500
2022 Inflation Shock 2022 Inflation Shock
2022 Inflation Shock% Loss % Loss -61.3% -25.4%
2022 Inflation Shock% Gain to Breakeven % Gain to Breakeven 158.5% 34.1%
2022 Inflation ShockTime to Breakeven Time to Breakeven 631 days 464 days

Compare to BTGO, CD, TW, LPLA, CRCL

In The Past
Perella Weinberg Partners's stock fell -61.3% during the 2022 Inflation Shock from a high on 9/2/2021. A -61.3% loss requires a 158.5% gain to breakeven.

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Asset Allocation
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About Perella Weinberg Partners (PWP)

Business Description

Analogies

Products

Customers

Suppliers

Management

Key Risks

Emerging Threats

Market Size

Revenue Drivers

Capital Allocation

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Perella Weinberg Partners, an independent advisory firm, provides strategic and financial advisory services in the United States and internationally. The company offers strategic and financial decisions, mergers and acquisitions advice and execution, capital markets advisory, shareholder and defense advisory, capital structure and restructuring, underwriting, equity research, and private capital raising services. It serves public multinational corporations, mid-sized public and private companies, individual entrepreneurs, private and institutional investors, creditor committees, and government institutions in various industries comprising consumer and retail; energy; financial institutions; healthcare; industrials; and technology, media, and telecommunications. The company was founded in 2006 and is based in New York, New York. Perella Weinberg Partners operates as a subsidiary of Perella Weinberg Partners Group LP.

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1. Like the M&A and strategic advisory division of a **Goldman Sachs** or **Morgan Stanley**, but as an independent, focused firm.

2. An independent financial advisor for companies, similar to **Lazard**, specializing in mergers, acquisitions, and raising capital.

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Mergers & Acquisitions (M&A) Advisory: Provides advice and execution services for corporate mergers, acquisitions, and divestitures.

Capital Markets Advisory: Offers guidance on public and private capital raising, including underwriting and private capital placements.

Capital Structure & Restructuring Advisory: Assists clients with optimizing their financial structure and navigating complex restructuring processes.

Shareholder & Defense Advisory: Counsels companies on shareholder activism, corporate governance, and defense strategies.

Equity Research: Delivers analytical insights and reports on various companies and industries to inform investment decisions.

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Perella Weinberg Partners (PWP) primarily provides strategic and financial advisory services to a diverse range of companies and institutions. While specific names of individual client companies are not provided in the background description, the company explicitly serves the following categories of major customers:

Public multinational corporations

Mid-sized public and private companies

Individual entrepreneurs

Private and institutional investors

Creditor committees

Government institutions

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Boston Properties (BXP)

Deloitte & Touche LLP

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Andrew Bednar Partner and Chief Executive Officer

Andrew Bednar was appointed Chief Executive Officer of Perella Weinberg Partners in January 2023. He has been a Partner of the firm since its founding in 2006. Prior to joining PWP, Mr. Bednar served as Head of U.S. Mergers & Acquisitions at Bank of America and was a Managing Director in Mergers and Acquisitions at Goldman Sachs. He began his career as a corporate attorney at Cravath, Swaine & Moore LLP. Mr. Bednar has led numerous significant advisory assignments, including advising NYSE on its $10.2 billion sale to Intercontinental Exchange and Kate Spade & Co. on its $2.4 billion sale to Coach. He also advised J Crew on its $3 billion sale to TPG and Leonard Green, and Talbots on its sale to Sycamore Partners, demonstrating his experience with private equity-backed transactions. Additionally, he was part of the sponsor of PWP Forward Acquisition Corp. I, a mission-oriented SPAC, and led the team for Perella Weinberg's business combination with FinTech Acquisition Corp. IV.

Alexandra Gottschalk Chief Financial Officer and Partner

Alexandra Gottschalk has served as Chief Financial Officer of Perella Weinberg Partners since January 2024. Prior to this role, she was the firm's Chief Accounting Officer since 2019 and served as Controller for the company and its business units, including TPH&Co., since 2010. Before joining Perella Weinberg, Ms. Gottschalk worked at PwC in the Assurance practice and began her career at Deloitte in the International Tax Group. She is a Certified Public Accountant.

Peter A. Weinberg Founding Partner and Chairman

Peter A. Weinberg co-founded Perella Weinberg Partners in 2006 with Joseph Perella and currently serves as its Founding Partner and Chairman. He previously held the position of Chief Executive Officer of the firm from February 2019 to January 2023. Prior to co-founding PWP, Mr. Weinberg spent nearly two decades at Goldman Sachs, where he rose to become Chief Executive Officer of Goldman Sachs International in London from 1999 to 2005. During his tenure at Goldman Sachs, he also founded the Financial Sponsors Group, led Investment Banking Services, ran the Communications, Media and Telecom Group, and co-headed the Global Investment Banking Division.

Dietrich Becker Partner and President

Dietrich Becker is a Partner and President of Perella Weinberg Partners, based in London. As a founding partner of the firm, he has been instrumental in its development and growth. He served as Co-President alongside Andrew Bednar since March 2020. Mr. Becker's responsibilities include focusing on key client coverage and international expansion for the firm.

Robert K. Steel Partner and Vice Chairman

Robert K. Steel is a Partner and Vice Chairman at Perella Weinberg Partners, a role he has held since June 2021. He previously served as the firm's Chief Executive Officer from 2014 until February 2019. Before joining PWP, Mr. Steel was New York City's Deputy Mayor for Economic Development from 2010 to 2013. He also served as President and Chief Executive Officer of Wachovia Corporation, where he oversaw the bank's sale to Wells Fargo & Co. and served on the Wells Fargo board of directors until 2010. From 2006 to 2008, he was the Under Secretary for Domestic Finance of the United States Treasury. Mr. Steel spent nearly 30 years at Goldman Sachs, where he achieved the positions of Head of the Global Equities Division, Vice Chairman of the firm, and a member of its Management Committee. He is also a co-founder of SeaChange Capital Partners, an organization dedicated to supporting non-profits.

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The key risks to Perella Weinberg Partners (PWP) include:

Market Conditions and Revenue Volatility: Perella Weinberg Partners' revenue is highly dependent on advisory fees, which are largely contingent on the completion of transactions such as mergers and acquisitions (M&A) and capital markets activities. Economic downturns, market volatility, high interest rates, and client hesitancy can significantly impact deal volumes and timing, leading to substantial fluctuations and potential decreases in revenue. This makes the firm susceptible to market downturns and shifts in client spending, directly affecting its financial performance.

Intense Competition and Talent Retention: The financial services industry in which PWP operates is intensely competitive. The firm must continuously compete for both advisory engagements and top talent against other established investment banking and advisory firms. The ability to successfully identify, recruit, develop, and retain highly skilled advisory professionals and senior bankers is crucial to its success, as the departure of key personnel could jeopardize client relationships and result in a material loss of revenue.

Extensive Regulation and Litigation Risks: Perella Weinberg Partners is subject to extensive U.S. and international regulations governing the corporate advisory industry. This regulatory environment exposes the firm to substantial litigation risks, increased compliance costs, and potential legal challenges. Any missteps in adhering to these complex rules could lead to significant fines, legal troubles, and damage to its business and reputation.

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Perella Weinberg Partners (PWP) operates within the global financial advisory, mergers and acquisitions (M&A) advisory, and capital markets advisory markets. The addressable markets for their main products and services are substantial both globally and within the United States. For broad financial advisory services: * The global financial advisory services market was valued at approximately $107.89 billion in 2025 and is projected to reach $169.22 billion by 2033, demonstrating a compound annual growth rate (CAGR) of 5.79% from 2026 to 2033. North America held the largest share of the global financial advisory services market in 2020. * The U.S. financial advisory services market was estimated at $28.81 billion in 2025 and is expected to grow to $40.08 billion by 2033, with a CAGR of 4.21% over the forecast period. For mergers and acquisitions (M&A) financial advisory services: * The global M&A financial advisory services market was estimated at $25.0 billion in 2024 and is projected to increase to $42.0 billion by 2035, growing at a CAGR of 4.83% during the forecast period from 2025 to 2035. Another source estimated the global market for M&A Advisory Services to have reached a valuation in the range of USD 15.0 billion to USD 35.0 billion by 2026. * North America is the largest regional market for M&A financial advisory services. The North American M&A advisory market size was $11.926.6 million in 2025 and is projected to reach $14.293.1 million by 2033, with a CAGR of 2.3% from 2021 to 2033. For capital markets advisory services: * The global capital markets advisory service market was estimated at $50 billion in 2025 and is projected to reach approximately $85 billion by 2033, with a CAGR of 7% from 2025 to 2033. * North America, particularly the United States, is expected to maintain its dominant position in the capital markets advisory service market throughout the forecast period (2025-2033).

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Here are the expected drivers of future revenue growth for Perella Weinberg Partners (PWP) over the next 2-3 years:

Record-High Pipeline and Backlog: Perella Weinberg Partners has reported a record-high gross pipeline and a strong, growing backlog of announced and pending transactions, which is expected to provide a solid foundation for future revenue growth as these deals are executed.

Growth in M&A and Restructuring Segments: The firm anticipates continued growth in its Mergers & Acquisitions (M&A) and restructuring practices, with its restructuring segment achieving record revenues and gaining market share in 2025. Geopolitical opportunities are also seen as a factor that could leverage growth in these areas.

Strategic Talent Investment and Expanded Offerings: PWP has been actively investing in senior talent, making significant hires and promotions, and expanding its coverage in key sectors such as Healthcare Services and Software. Additionally, the acquisition of Devon Park Advisors has broadened the firm's product offerings to include secondaries advisory capabilities. These strategic investments are expected to attract more high-profile and high-value assignments.

Expansion of European Business: The company's European business has shown significant momentum, achieving record revenues in 2025 and experiencing over 50% year-over-year growth in the same year. This strong performance in the European market is anticipated to continue contributing to overall revenue growth.

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Capital Allocation Decisions (Last 3-5 Years) for Perella Weinberg Partners (PWP)

Share Repurchases

In 2025, Perella Weinberg Partners returned an aggregate of $163.4 million to equity holders, which included the repurchase of 1,829,337 shares at an average price of $18.40 through open market transactions. The firm also retired 6.5 million shares during the year to manage its share count.

In 2024, the company returned $136 million to equity holders, including the retirement of 4.0 million shares at an average price of $9.77 per share.

In 2023, the firm returned $67 million to equity holders, which included the retirement of 10.6 million shares at an average price of $7.40 per share.

Share Issuance

On May 16, 2025, Perella Weinberg Partners issued 1,234,357 shares of Class A common stock in an unregistered private transaction. These shares were exchanged for Class A partnership units and Class B common stock of PWP Holdings LP, facilitating the conversion of partnership units into publicly traded common stock.

Outbound Investments

In 2025, Perella Weinberg Partners acquired Devon Park Advisors. This acquisition was made to establish a secondaries advisory capability, expanding the firm's service offerings.

Interactive Breakdown
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INDUSTRY: Diversified Capital Markets

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Higher Rev Chg LTM (Value for PWP: -14.5%)

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LAZ (10.9%)

Lazard

BNL (9.1%)

Broadstone Net Lease

NHI (8.0%)

National Health Investors

SECTOR: Financials

Higher Rev Chg 3Y Avg | Lower P/S (Values for PWP: 7.9% | 1.5x)

PGR (21.0% | 1.3x)

Progressive

TRV (9.8% | 1.3x)

Travelers Companies

MFC (33.3% | 1.1x)

Manulife Financial

ALL (10.0% | 0.8x)

Allstate

HIG (8.7% | 1.3x)

Hartford Insurance

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for PWP: 7.9% | 24.2x)

V (11.1% | 20.4x)

Visa

MA (13.8% | 22.2x)

Mastercard

BLK (11.0% | 18.3x)

BlackRock

SPGI (11.1% | 19.9x)

S&P Global

ICE (9.7% | 17.4x)

Intercontinental Exchange

Higher Rev Chg LTM (Value for PWP: -14.5%)

MA (16.4%)

Mastercard

V (12.5%)

Visa

JPM (7.7%)

JPMorgan Chase

BAC (6.8%)

Bank of America

BRK-B (-3.2%)

Berkshire Hathaway

Higher Rev Chg 3Y Avg (Value for PWP: 7.9%)

BRK-B (27.0%)

Berkshire Hathaway

MA (13.8%)

Mastercard

JPM (12.8%)

JPMorgan Chase

V (11.1%)

Visa

MS (9.7%)

Morgan Stanley

Higher Op Mgn LTM (Value for PWP: 6.4%)

V (67.0%)

Visa

CME (64.9%)

CME

MA (59.5%)

Mastercard

SPGI (40.3%)

S&P Global

BLK (32.7%)

BlackRock

Higher CFO/Rev LTM (Value for PWP: 4.6%)

RY (91.5%)

Royal Bank of Canada

V (59.1%)

Visa

MA (53.8%)

Mastercard

BRK-B (11.2%)

Berkshire Hathaway

BAC (11.2%)

Bank of America

Higher FCF/Rev LTM (Value for PWP: 4.1%)

RY (88.3%)

Royal Bank of Canada

V (55.4%)

Visa

MA (50.1%)

Mastercard

BAC (11.2%)

Bank of America

BRK-B (6.1%)

Berkshire Hathaway

Higher Total Yield (Value for PWP: 5.4%)

BAC (8.8%)

Bank of America

JPM (7.4%)

JPMorgan Chase

GS (7.0%)

Goldman Sachs

MS (6.8%)

Morgan Stanley

BRK-B (6.6%)

Berkshire Hathaway

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for PWP: 7.9% | 1.5x)

UNH (11.4% | 0.5x)

UnitedHealth

HCA (7.9% | 1.4x)

HCA Healthcare

MCK (13.3% | 0.3x)

McKesson

CI (15.3% | 0.3x)

Cigna

ELV (8.4% | 0.3x)

Elevance Health

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for PWP: 7.9% | 24.2x)

MSFT (14.4% | 18.6x)

Microsoft

META (19.9% | 15.9x)

Meta Platforms

MU (45.3% | 14.3x)

Micron Technology

ORCL (10.2% | 19.4x)

Oracle

PM (8.6% | 17.0x)

Philip Morris International

Higher Rev Chg LTM (Value for PWP: -14.5%)

NVDA (65.5%)

NVIDIA

MSFT (16.7%)

Microsoft

GOOGL (15.1%)

Alphabet

AMZN (12.4%)

Amazon.com

AAPL (10.1%)

Apple

Higher Rev Chg 3Y Avg (Value for PWP: 7.9%)

NVDA (101.8%)

NVIDIA

AVGO (26.2%)

Broadcom

MSFT (14.4%)

Microsoft

GOOGL (12.5%)

Alphabet

AMZN (11.7%)

Amazon.com

Higher Op Mgn LTM (Value for PWP: 6.4%)

NVDA (60.4%)

NVIDIA

MSFT (46.7%)

Microsoft

AAPL (32.4%)

Apple

GOOGL (32.0%)

Alphabet

AMZN (11.2%)

Amazon.com

Higher CFO/Rev LTM (Value for PWP: 4.6%)

MSFT (52.5%)

Microsoft

NVDA (47.6%)

NVIDIA

GOOGL (40.9%)

Alphabet

AAPL (31.1%)

Apple

AMZN (19.5%)

Amazon.com

Higher FCF/Rev LTM (Value for PWP: 4.1%)

NVDA (44.8%)

NVIDIA

AVGO (42.3%)

Broadcom

AAPL (28.3%)

Apple

MSFT (25.3%)

Microsoft

GOOGL (18.2%)

Alphabet

Higher Total Yield (Value for PWP: 5.4%)

JNJ (6.8%)

Johnson & Johnson

XOM (6.4%)

Exxon Mobil

MU (6.1%)

Micron Technology

CVX (6.0%)

Chevron

MSFT (5.5%)

Microsoft

Best Bets in Financials

What You Pay

P/EBIT (Value for PWP: 24.2x)

FG (6.5x)

F&G Annuities & Life

MTG (5.9x)

MGIC Investment

CME (19.2x)

CME

KNSL (11.7x)

Kinsale Capital

NHI (20.1x)

National Health Investors

NMIH (5.4x)

NMI

ENVA (7.9x)

Enova International

TW (21.1x)

Tradeweb Markets

FNF (7.6x)

Fidelity National Financial

MA (22.5x)

Mastercard

P/E (Value for PWP: 32.8x)

FG (12.0x)

F&G Annuities & Life

MTG (7.7x)

MGIC Investment

CME (25.9x)

CME

KNSL (15.0x)

Kinsale Capital

NHI (27.6x)

National Health Investors

NMIH (7.3x)

NMI

ENVA (10.4x)

Enova International

TW (30.6x)

Tradeweb Markets

FNF (20.6x)

Fidelity National Financial

MA (29.0x)

Mastercard

What You Get

Rev Chg 3Y Avg (Value for PWP: 7.9%)

FG (39.3%)

F&G Annuities & Life

MTG (1.2%)

MGIC Investment

CME (9.1%)

CME

KNSL (31.5%)

Kinsale Capital

NHI (10.6%)

National Health Investors

NMIH (10.5%)

NMI

ENVA (22.0%)

Enova International

TW (20.2%)

Tradeweb Markets

FNF (7.5%)

Fidelity National Financial

MA (13.8%)

Mastercard

Rev Chg LTM (Value for PWP: -14.5%)

FG (0.1%)

F&G Annuities & Life

MTG (0.5%)

MGIC Investment

CME (6.4%)

CME

KNSL (18.0%)

Kinsale Capital

NHI (12.1%)

National Health Investors

NMIH (8.5%)

NMI

ENVA (18.6%)

Enova International

TW (18.9%)

Tradeweb Markets

FNF (5.9%)

Fidelity National Financial

MA (16.4%)

Mastercard

Rev Chg Q (Value for PWP: -2.9%)

FG (13.5%)

F&G Annuities & Life

MTG (-0.9%)

MGIC Investment

CME (8.1%)

CME

KNSL (17.3%)

Kinsale Capital

NHI (23.4%)

National Health Investors

NMIH (8.5%)

NMI

ENVA (15.1%)

Enova International

TW (12.5%)

Tradeweb Markets

FNF (12.0%)

Fidelity National Financial

MA (17.6%)

Mastercard

FCF/Rev 3Y Avg (Value for PWP: 13.7%)

FG (110.7%)

F&G Annuities & Life

MTG (63.9%)

MGIC Investment

CME (61.2%)

CME

KNSL (60.8%)

Kinsale Capital

NHI (60.1%)

National Health Investors

NMIH (58.5%)

NMI

ENVA (55.1%)

Enova International

TW (50.0%)

Tradeweb Markets

FNF (48.4%)

Fidelity National Financial

MA (47.2%)

Mastercard

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 21%, alpha of 9.1%, and sharpe of 0.94

Latest Trefis Analyses

Title Date
0 DASHBOARDS
1 Perella Weinberg Partners Earnings Notes 12/16/2025
2 How Low Can Perella Weinberg Partners Stock Really Go? 10/17/2025
3 Why Perella Weinberg Partners Stock Moved: PWP Stock Has Gained 88% Since 2022 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S) 08/08/2025
4 PWP Dip Buy Analysis 07/10/2025
5 Time To Buy Perella Weinberg Partners Stock? 05/16/2025
6 Perella Weinberg Partners (PWP) Valuation Ratios Comparison 05/15/2025
7 Perella Weinberg Partners Total Shareholder Return (TSR): 102.2% in 2024 and 33.7% 3-yr compounded annual returns (above peer average) 03/07/2025
8 Perella Weinberg Partners (PWP) Operating Cash Flow Comparison 02/17/2025
9 Perella Weinberg Partners (PWP) Net Income Comparison 02/16/2025
10 Perella Weinberg Partners (PWP) Operating Income Comparison 02/15/2025
Title
0 ARTICLES

Trade Ideas
Select ideas related to PWP.
Unique Key Date Ticker Company Category Trade Strategy 6M Fwd Rtn 12M Fwd Rtn 12M Max DD
NDAQ_2282026_Insider_Buying_45D_2Buy_200K 02282026 NDAQ Nasdaq Insider Insider Buys 45DStrong Insider Buying
Companies with multiple insider buys in the last 45 days 0.0% 0.0% 0.0%
JEF_2272026_Dip_Buyer_ValueBuy 02272026 JEF Jefferies Financial Dip Buy DB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin 0.0% 0.0% 0.0%
ALAB_2272026_Dip_Buyer_High_CFO_Margins_ExInd_DE 02272026 ALAB Astera Labs Dip Buy DB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap 0.0% 0.0% 0.0%
PAYO_2272026_Dip_Buyer_High_CFO_Margins_ExInd_DE 02272026 PAYO Payoneer Global Dip Buy DB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap 0.0% 0.0% 0.0%
FOUR_2272026_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG 02272026 FOUR Shift4 Payments Dip Buy DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap 0.0% 0.0% 0.0%

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More From Trefis

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Earnings Reaction Data

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Advisor Strategies & Resources

Wealth Management

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Rules-Based Wealth Management

Peer Comparisons
Peers to compare with:

Financials
PWP BTGO CD TW LPLA CRCL Median
Name Perella . BitGo Chaince . Tradeweb. LPL Fina. Circle I.
Mkt Price 17.23 7.67 4.13 116.57 296.90 93.66 55.45
Mkt Cap 1.2 - 20.5 24.8 23.8 22.2 22.2
Rev LTM 751 13,925 1 2,052 16,989 2,747 2,400
Op Inc LTM 48 13 -12 845 1,553 -91 30
FCF LTM 30 19 - 1,065 -982 486 30
FCF 3Y Avg 109 - - 853 -386 235 172
CFO LTM 35 62 - 1,168 -411 542 62
CFO 3Y Avg 135 - - 937 126 272 203

Growth & Margins
PWP BTGO CD TW LPLA CRCL Median
Name Perella . BitGo Chaince . Tradeweb. LPL Fina. Circle I.
Rev Chg LTM -14.5% - -46.9% 18.9% 37.2% 63.9% 18.9%
Rev Chg 3Y Avg 7.9% - -51.0% 20.2% 25.8% 397.5% 20.2%
Rev Chg Q -2.9% - 2,263.4% 12.5% 40.4% 76.9% 40.4%
QoQ Delta Rev Chg LTM -0.9% - 1,381.5% 2.9% 9.1% 13.9% 9.1%
Op Mgn LTM 6.4% 0.1% -1,650.6% 41.2% 9.1% -3.3% 3.2%
Op Mgn 3Y Avg -6.8% - - 39.3% 12.9% -24.2% 3.1%
QoQ Delta Op Mgn LTM -0.3% - 15,837.3% 0.5% -0.3% 2.9% 0.5%
CFO/Rev LTM 4.6% 0.4% - 56.9% -2.4% 19.7% 4.6%
CFO/Rev 3Y Avg 17.5% - - 54.9% 1.6% 0.1% 9.6%
FCF/Rev LTM 4.1% 0.1% - 51.9% -5.8% 17.7% 4.1%
FCF/Rev 3Y Avg 13.7% - - 50.0% -2.3% -4.5% 5.7%

Valuation
PWP BTGO CD TW LPLA CRCL Median
Name Perella . BitGo Chaince . Tradeweb. LPL Fina. Circle I.
Mkt Cap 1.2 - 20.5 24.8 23.8 22.2 22.2
P/S 1.5 - 27,452.6 12.1 1.4 8.1 8.1
P/EBIT 24.2 - -1,663.2 21.1 15.3 -218.8 15.3
P/E 32.8 - -944.2 30.6 27.5 -320.1 27.5
P/CFO 33.4 - - 21.3 -57.8 41.0 27.4
Total Yield 5.4% - -0.1% 3.7% 4.0% -0.3% 3.7%
Dividend Yield 2.3% - 0.0% 0.4% 0.4% 0.0% 0.4%
FCF Yield 3Y Avg 11.6% - - 3.7% -1.3% - 3.7%
D/E 0.2 - 0.0 0.0 0.3 0.0 0.0
Net D/E -0.1 - -0.0 -0.1 0.3 -0.1 -0.1

Returns
PWP BTGO CD TW LPLA CRCL Median
Name Perella . BitGo Chaince . Tradeweb. LPL Fina. Circle I.
1M Rtn -6.9% -22.1% -29.6% -5.4% -1.1% 12.2% -6.2%
3M Rtn -2.5% -58.5% -27.7% 8.3% -20.1% 15.2% -11.3%
6M Rtn -19.0% -58.5% -77.3% 5.3% -12.7% -26.2% -22.6%
12M Rtn -5.3% -58.5% -27.2% -20.3% -11.6% 12.5% -15.9%
3Y Rtn 102.7% -58.5% 161.4% 49.3% 51.2% 12.5% 50.2%
1M Excs Rtn -4.0% -19.1% 7.3% 3.4% 0.8% 15.2% 2.1%
3M Excs Rtn 7.1% -50.4% -23.4% 16.9% -12.3% 21.5% -2.6%
6M Excs Rtn -14.7% -54.9% -68.4% 9.3% -8.0% -21.3% -18.0%
12M Excs Rtn -23.5% -70.0% -39.7% -31.0% -23.7% 1.0% -27.3%
3Y Excs Rtn 29.8% -120.3% 235.3% -2.6% -15.0% -49.2% -8.8%

Comparison Analyses
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FDIC Bank Data

Capital & Deposits
Assets
Loans

Bank Capital
null
Bank Deposits
null

Bank Assets
null

Bank Loans
null

FDA Approved Drugs Data
Expand for Morenull Collapse to Previewnull

Financials

Annual
Quarterly

$ Mil | FY: 12/31 LTM 2025 2024 2023 2022 2021 2020
Period End 12/31/2025 12/31/2025 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020
Filing Date 2/27/2026 2/27/2026 2/27/2025 2/23/2024 2/28/2023 3/11/2022 2/28/2023
Key Financials
Total Revenue 751 751 878 649 632 802 519
Net Income 35 35 -65 -17 18 -9 -24
EPS 0.55 0.55 -1.22 -0.40 0.41 -0.22 -0.57
Growth Rates
Total Revenue Growth -14.5% -14.5% 35.4% 2.7% -21.2% 54.5% -2.7%
Net Income Growth 154.8% 154.8% -275.8% -196.3% 289.8% 61.3% 85.2%
Margins
Net Income Margin 4.7% 4.7% -7.4% -2.7% 2.8% -1.2% -4.7%
Cash & Debt
Total Cash 256 256 407 338 312 503 329
Total Debt 186 186 187 176 166 43 205
Net Debt / (Cash) -70 -70 -220 -162 -146 -459 -124
Cash Flows
Net Cash from Operations 35 35 223 146 -18 235 86
Free Cash from Operations 30 30 207 88 -44 233 80
Returns to Shareholders
Dividends 27 27 39 27 57 72 12
Share Repurchases 62 62 78 22 105 12 -0
$ Mil | FY: 12/31 2025Q4 2025Q3 2025Q2 2025Q1 2024Q4 2024Q3 2024Q2 2024Q1 2023Q4 2023Q3 2023Q2 2023Q1
Period End 12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023
Filing Date 2/27/2026 11/7/2025 8/1/2025 5/2/2025 2/27/2025 11/12/2024 8/2/2024 5/3/2024 2/23/2024 11/7/2023 8/4/2023 5/4/2023
Key Financials Quarterly
Total Revenue 219 165 155 212 226 278 272 102 213 139 166 131
Net Income 9 6 3 17 21 16 -66 -36 -10 -2 0 -5
EPS 0.14 0.09 0.04 0.28 0.36 0.29 -1.21 -0.73 -0.23 -0.05 0.01 -0.12
Key Financials TTM
Total Revenue TTM 751 757 871 988 878 865 726 619 649 619 625 611
Net Income TTM 35 47 57 -12 -65 -96 -114 -48 -17 -8 -5 4
Growth Rates Quarterly
Total Revenue Growth -2.9% -40.8% -42.9% 107.4% 6.1% 100.2% 64.3% -22.3% 16.1% -4.4% 9.6% -13.5%
Net Income Growth -54.8% -63.3% 104.1% 148.4% 299.6% 898.9% -18492.2% -599.7% -632.6% -279.7% -96.1% -157.6%
Margins Quarterly
Net Income Margin 4.3% 3.6% 1.8% 8.2% 9.2% 5.9% -24.3% -35.1% -4.9% -1.5% 0.2% -3.9%
Cash & Debt
Total Cash 256 186 145 111 407 335 185 157 338 197 180 130
Total Debt 186 185 185 186 187 188 181 176 176 175 171 169
Net Debt / (Cash) -70 -1 40 74 -220 -147 -4 20 -162 -21 -8 39
Cash Flows Quarterly
FCF from Operations 96 59 56 -177 139 200 90 -206 158 38 82 -132
Cash Flows TTM
FCF from Operations TTM 35 78 219 253 223 242 80 71 146 68 77 99
Returns to Shareholders Quarterly
Dividends 5 10 4 8 10 15 6 8 6 6 9 7
Share Repurchases -0 2 17 43 44 0 34 -0 -0 -0 8 15
Return on Invested Capital (ROIC) Quarterly
ROIC - - 61.2% 62.8% - - - -120.3% - -171.7% -109.0% -85.1%
Return on Invested Capital (ROIC) TTM
ROIC TTM - - 194.9% -17.9% - - - -82.0% - -147.0% -113.9% -56.3%

Segment Financials
Revenue by Segment
$ Mil 2025 2024 2023 2022 2021
Advisory 878 649 632 802 519
Total 878 649 632 802 519

Price Behavior

Behavior Stats
Betas Matrix
Behavior vs Other Asset Classes

Price Behavior
Market Price $17.23
Market Cap ($ Bil) 1.1
First Trading Date 11/20/2020
Distance from 52W High -29.0%
50 Days 200 Days
DMA Price $19.82 $19.73
DMA Trend indeterminate indeterminate
Distance from DMA -13.1% -12.7%
3M 1YR
Volatility 47.9% 46.4%
Downside Capture 1.03 1.29
Upside Capture 218.30 145.60
Correlation (SPY) 52.5% 65.3%

PWP Betas & Captures as of 2/28/2026

1M 2M 3M 6M 1Y 3Y
Beta 3.12 2.40 2.15 1.83 1.64 1.51
Up Beta 5.08 2.93 2.52 2.90 1.49 1.39
Down Beta 4.14 2.57 2.55 2.05 1.80 1.75
Up Capture 110% 259% 204% 105% 185% 320%
Bmk +ve Days 9 20 31 70 142 431
Stock +ve Days 6 18 27 56 122 369
Down Capture 325% 184% 173% 161% 141% 109%
Bmk -ve Days 12 21 30 54 109 320
Stock -ve Days 15 22 33 66 127 367

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y

5Y

10Y

Based On 1-Year Data
Annualized
Return Annualized
Volatility Sharpe
Ratio Correlation
with PWP
PWP -12.0% 46.5% -0.13 -
Sector ETF (XLF) -4.0% 19.2% -0.33 68.2%
Equity (SPY) 14.5% 18.9% 0.59 65.1%
Gold (GLD) 50.2% 27.7% 1.46 1.3%
Commodities (DBC) 17.8% 17.6% 0.85 19.3%
Real Estate (VNQ) 0.4% 16.4% -0.15 56.0%
Bitcoin (BTCUSD) -23.7% 44.2% -0.49 34.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data
Annualized
Return Annualized
Volatility Sharpe
Ratio Correlation
with PWP
PWP 11.7% 41.2% 0.39 -
Sector ETF (XLF) 9.1% 18.7% 0.37 54.1%
Equity (SPY) 11.8% 17.0% 0.54 52.8%
Gold (GLD) 20.7% 17.7% 0.96 6.1%
Commodities (DBC) 11.6% 18.9% 0.50 11.3%
Real Estate (VNQ) 3.0% 18.8% 0.07 40.4%
Bitcoin (BTCUSD) 4.0% 56.6% 0.29 22.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data
Annualized
Return Annualized
Volatility Sharpe
Ratio Correlation
with PWP
PWP 7.0% 40.6% 0.44 -
Sector ETF (XLF) 12.0% 22.1% 0.50 51.0%
Equity (SPY) 14.0% 17.9% 0.67 51.0%
Gold (GLD) 13.3% 15.8% 0.70 5.4%
Commodities (DBC) 8.2% 17.6% 0.39 10.3%
Real Estate (VNQ) 4.7% 20.7% 0.19 39.6%
Bitcoin (BTCUSD) 66.4% 66.8% 1.06 22.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest
Short Interest: As Of Date 3132026
Short Interest: Shares Quantity 8.3 Mil
Short Interest: % Change Since 2282026 8.0%
Average Daily Volume 0.8 Mil
Days-to-Cover Short Interest 9.9 days
Basic Shares Quantity 67.5 Mil
Short % of Basic Shares 12.3%

Returns Analyses
Title
0 How Low Can Perella Weinberg Partners Stock Really Go?

Earnings Returns History
Expand for More
Forward Returns
Earnings Date 1D Returns 5D Returns 21D Returns
11/7/2023 6.8% 1.4% 19.3%
11/3/2022 4.3% 3.7% 26.6%
8/4/2022 5.1% 11.1% -1.9%
5/5/2022 -18.1% -19.5% -4.7%
1/13/2022 -7.5% -19.5% -13.8%
11/4/2021 -3.4% 0.7% -15.1%
8/12/2021 4.8% 2.4% 6.6%
SUMMARY STATS
# Positive 4 5 3
# Negative 3 2 4
Median Positive 4.9% 2.4% 19.3%
Median Negative -7.5% -19.5% -9.2%
Max Positive 6.8% 11.1% 26.6%
Max Negative -18.1% -19.5% -15.1%

SEC Filings
Expand for More
Report Date Filing Date Filing
12/31/2025 02/27/2026 10-K
09/30/2025 11/07/2025 10-Q
06/30/2025 08/01/2025 10-Q
03/31/2025 05/02/2025 10-Q
12/31/2024 02/27/2025 10-K
09/30/2024 11/12/2024 10-Q
06/30/2024 08/02/2024 10-Q
03/31/2024 05/03/2024 10-Q
12/31/2023 02/23/2024 10-K
09/30/2023 11/07/2023 10-Q
06/30/2023 08/04/2023 10-Q
03/31/2023 05/04/2023 10-Q
12/31/2022 02/28/2023 10-K
09/30/2022 11/07/2022 10-Q
06/30/2022 08/04/2022 10-Q
03/31/2022 05/05/2022 10-Q

Recent Forward Guidance [BETA]

Latest: null Earnings Reported N/A/N/A/N/A | Prior: null Earnings Reported N/A/N/A/N/A
null

Insider Activity
Expand for More
# Owner Title Holding Action Filing Date Price Shares Transacted
Value Value of
Held Shares Form
1 Steel, Robert K Direct Sell 9112025 21.76 90,532 1,969,976 4,789,855 Form
2 Steel, Robert K Direct Sell 9112025 21.85 51,505 1,125,384 3,684,281 Form
3 Steel, Robert K Direct Sell 9112025 22.42 69,845 1,565,925 2,214,468 Form
4 Becker, Dietrich President Direct Sell 8122025 22.20 177,553 3,941,677 8,180,012 Form
5 Steel, Robert K Direct Sell 6132025 18.75 28,214 529,012 1,851,975 Form

PWP Trade Sentinel

Stock Conviction

null

CONVICTION RATIONALE

null

STOCK ARCHETYPE
null

null

INVESTMENT THESIS
null
null

Mechanism: null

Supporting Evidence:

PRIMARY RISK
null
null

Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI Threshold Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline Event & Metric To Watch

Key Events in Last 6 Months

Date Event Stock Impact

Risk Management

Position Sizing

null

null

null

Diversification Alternatives

How Is The Market Pricing PWP?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What PWP Makes & Who Pays

TTM figures based on

PWP Evolution: Price Return by Era

① Structure

0

② Volume / Momentum

0

③ Catalyst

0

Combined Score

0 / 12

1 Price Structure & Trend · ▾

▲

Current $

20D SMA $ Below

50D SMA $ Slope: % Below

200D SMA $ Slope: % Below

✕ — trading days ago

52W High

$

From 52W High

%

All-Time High

$

From ATH

%

52W Low

$

From 52W Low

%

2 Momentum ▾

↑

5D

%

20D

%

63D

%

126D

%

252D

%

3 Relative Strength vs. SPY ▾

↑

20D
%

63D
%

126D
%

252D
%

RS Trend

%

RS Character

4 Institutional Footprint & Volume ▾

↓

◈

Score

Up/Down Vol 20D

Up/Down Vol 60D

OBV Slope 20D

OBV Slope 60D

Hi-Conv Up Days

Past 60D

Hi-Conv Down Days

Past 60D

Volume Trend

20D avg vs 60D avg

5 Volatility ▾

≈

HV 20D

%

HV 60D

%

HV 252D

%

Compression Ratio

ATR 14D

%

6 Key Price Levels Range · Vol ▾

◈

Nearest Resistance

$

% away · touches

Nearest Support

$

% away · touches

2nd Support

$

touches

Risk / Reward

×

Approach Volume

Current Price

$

7 Earnings Reaction History ▾

★

%

Earnings Day Return · Vol Spike ×

5D

%

10D

%

20D

%

Post Vol

×

%

Earnings Day Return · Vol Spike ×

5D

%

10D

%

20D

%

Post Vol

×

8 How the Verdict Is Derived Three Pillars ▾

Pillar Score

① Structure 0

② Vol / Mom 0

③ Catalyst 0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

Price Intelligence is derived from price-volume pattern analysis only. All moving averages are simple (SMA). Relative strength benchmarked against SPY.

Industry Resources
Financials Resources
Federal Reserve Economic Data
Federal Reserve
FDIC Data
American Banker
The Banker
Banking Technology

External Quote Links
0 Y Finance Barrons
1 TradingView Morningstar
2 SeekingAlpha ValueLine
3 Motley Fool Robinhood
4 CNBC Etrade
5 MarketWatch Unusual Whales
6 YCharts Perplexity Finance
7 FinViz

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	2021	2022	2023	2024	2025	2026	Total [1]
Returns
PWP Return	15%	-21%	28%	98%	-26%	1%	72%
Peers Return	36%	0%	13%	84%	-10%	-11%	128%
S&P 500 Return	27%	-19%	24%	23%	16%	-5%	72%
Monthly Win Rates [3]
PWP Win Rate	67%	50%	50%	75%	42%	33%
Peers Win Rate	61%	36%	50%	61%	46%	47%
S&P 500 Win Rate	75%	42%	67%	75%	67%	33%
Max Drawdowns [4]
PWP Max Drawdown	-10%	-56%	-27%	-11%	-35%	-7%
Peers Max Drawdown	-11%	-19%	-30%	-25%	-31%	-28%
S&P 500 Max Drawdown	-1%	-25%	-1%	-2%	-15%	-5%

Unique Key	Event	PWP	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-61.3%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	158.5%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	631 days	464 days

	Title	Date
0	DASHBOARDS
1	Perella Weinberg Partners Earnings Notes	12/16/2025
2	How Low Can Perella Weinberg Partners Stock Really Go?	10/17/2025
3	Why Perella Weinberg Partners Stock Moved: PWP Stock Has Gained 88% Since 2022 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)	08/08/2025
4	PWP Dip Buy Analysis	07/10/2025
5	Time To Buy Perella Weinberg Partners Stock?	05/16/2025
6	Perella Weinberg Partners (PWP) Valuation Ratios Comparison	05/15/2025
7	Perella Weinberg Partners Total Shareholder Return (TSR): 102.2% in 2024 and 33.7% 3-yr compounded annual returns (above peer average)	03/07/2025
8	Perella Weinberg Partners (PWP) Operating Cash Flow Comparison	02/17/2025
9	Perella Weinberg Partners (PWP) Net Income Comparison	02/16/2025
10	Perella Weinberg Partners (PWP) Operating Income Comparison	02/15/2025

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
NDAQ_2282026_Insider_Buying_45D_2Buy_200K	02282026	NDAQ	Nasdaq	Insider	Insider Buys 45DStrong Insider Buying Companies with multiple insider buys in the last 45 days	0.0%	0.0%	0.0%
JEF_2272026_Dip_Buyer_ValueBuy	02272026	JEF	Jefferies Financial	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	0.0%	0.0%	0.0%
ALAB_2272026_Dip_Buyer_High_CFO_Margins_ExInd_DE	02272026	ALAB	Astera Labs	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	0.0%	0.0%	0.0%
PAYO_2272026_Dip_Buyer_High_CFO_Margins_ExInd_DE	02272026	PAYO	Payoneer Global	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	0.0%	0.0%	0.0%
FOUR_2272026_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	02272026	FOUR	Shift4 Payments	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	0.0%	0.0%	0.0%

	PWP	BTGO	CD	TW	LPLA	CRCL	Median
Name	Perella .	BitGo	Chaince .	Tradeweb.	LPL Fina.	Circle I.
Mkt Price	17.23	7.67	4.13	116.57	296.90	93.66	55.45
Mkt Cap	1.2	-	20.5	24.8	23.8	22.2	22.2
Rev LTM	751	13,925	1	2,052	16,989	2,747	2,400
Op Inc LTM	48	13	-12	845	1,553	-91	30
FCF LTM	30	19	-	1,065	-982	486	30
FCF 3Y Avg	109	-	-	853	-386	235	172
CFO LTM	35	62	-	1,168	-411	542	62
CFO 3Y Avg	135	-	-	937	126	272	203

Market Price	$17.23
Market Cap ($ Bil)	1.1
First Trading Date	11/20/2020
Distance from 52W High	-29.0%
	50 Days	200 Days
DMA Price	$19.82	$19.73
DMA Trend	indeterminate	indeterminate
Distance from DMA	-13.1%	-12.7%
	3M	1YR
Volatility	47.9%	46.4%
Downside Capture	1.03	1.29
Upside Capture	218.30	145.60
Correlation (SPY)	52.5%	65.3%

	1M	2M	3M	6M	1Y	3Y
Beta	3.12	2.40	2.15	1.83	1.64	1.51
Up Beta	5.08	2.93	2.52	2.90	1.49	1.39
Down Beta	4.14	2.57	2.55	2.05	1.80	1.75
Up Capture	110%	259%	204%	105%	185%	320%
Bmk +ve Days	9	20	31	70	142	431
Stock +ve Days	6	18	27	56	122	369
Down Capture	325%	184%	173%	161%	141%	109%
Bmk -ve Days	12	21	30	54	109	320
Stock -ve Days	15	22	33	66	127	367

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with PWP
PWP	-12.0%	46.5%	-0.13	-
Sector ETF (XLF)	-4.0%	19.2%	-0.33	68.2%
Equity (SPY)	14.5%	18.9%	0.59	65.1%
Gold (GLD)	50.2%	27.7%	1.46	1.3%
Commodities (DBC)	17.8%	17.6%	0.85	19.3%
Real Estate (VNQ)	0.4%	16.4%	-0.15	56.0%
Bitcoin (BTCUSD)	-23.7%	44.2%	-0.49	34.2%

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with PWP
PWP	11.7%	41.2%	0.39	-
Sector ETF (XLF)	9.1%	18.7%	0.37	54.1%
Equity (SPY)	11.8%	17.0%	0.54	52.8%
Gold (GLD)	20.7%	17.7%	0.96	6.1%
Commodities (DBC)	11.6%	18.9%	0.50	11.3%
Real Estate (VNQ)	3.0%	18.8%	0.07	40.4%
Bitcoin (BTCUSD)	4.0%	56.6%	0.29	22.7%

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with PWP
PWP	7.0%	40.6%	0.44	-
Sector ETF (XLF)	12.0%	22.1%	0.50	51.0%
Equity (SPY)	14.0%	17.9%	0.67	51.0%
Gold (GLD)	13.3%	15.8%	0.70	5.4%
Commodities (DBC)	8.2%	17.6%	0.39	10.3%
Real Estate (VNQ)	4.7%	20.7%	0.19	39.6%
Bitcoin (BTCUSD)	66.4%	66.8%	1.06	22.1%

Short Interest: As Of Date	3132026
Short Interest: Shares Quantity	8.3 Mil
Short Interest: % Change Since 2282026	8.0%
Average Daily Volume	0.8 Mil
Days-to-Cover Short Interest	9.9 days
Basic Shares Quantity	67.5 Mil
Short % of Basic Shares	12.3%

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/7/2023	6.8%	1.4%	19.3%
11/3/2022	4.3%	3.7%	26.6%
8/4/2022	5.1%	11.1%	-1.9%
5/5/2022	-18.1%	-19.5%	-4.7%
1/13/2022	-7.5%	-19.5%	-13.8%
11/4/2021	-3.4%	0.7%	-15.1%
8/12/2021	4.8%	2.4%	6.6%
SUMMARY STATS
# Positive	4	5	3
# Negative	3	2	4
Median Positive	4.9%	2.4%	19.3%
Median Negative	-7.5%	-19.5%	-9.2%
Max Positive	6.8%	11.1%	26.6%
Max Negative	-18.1%	-19.5%	-15.1%

Report Date	Filing Date	Filing
12/31/2025	02/27/2026	10-K
09/30/2025	11/07/2025	10-Q
06/30/2025	08/01/2025	10-Q
03/31/2025	05/02/2025	10-Q
12/31/2024	02/27/2025	10-K
09/30/2024	11/12/2024	10-Q
06/30/2024	08/02/2024	10-Q
03/31/2024	05/03/2024	10-Q
12/31/2023	02/23/2024	10-K
09/30/2023	11/07/2023	10-Q
06/30/2023	08/04/2023	10-Q
03/31/2023	05/04/2023	10-Q
12/31/2022	02/28/2023	10-K
09/30/2022	11/07/2022	10-Q
06/30/2022	08/04/2022	10-Q
03/31/2022	05/05/2022	10-Q

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Steel, Robert K		Direct	Sell	9112025	21.76	90,532	1,969,976	4,789,855	Form
2	Steel, Robert K		Direct	Sell	9112025	21.85	51,505	1,125,384	3,684,281	Form
3	Steel, Robert K		Direct	Sell	9112025	22.42	69,845	1,565,925	2,214,468	Form
4	Becker, Dietrich	President	Direct	Sell	8122025	22.20	177,553	3,941,677	8,180,012	Form
5	Steel, Robert K		Direct	Sell	6132025	18.75	28,214	529,012	1,851,975	Form

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Perella Weinberg Partners (PWP)

Market Price (3/30/2026): $17.25 | Market Cap: $1.2 BilSector: Financials | Industry: Diversified Capital Markets

Perella Weinberg Partners (PWP)

Market Price (3/30/2026): $17.25Market Cap: $1.2 BilSector: FinancialsIndustry: Diversified Capital Markets

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Perella Weinberg Partners (PWP)

Capital Allocation Decisions (Last 3-5 Years) for Perella Weinberg Partners (PWP)

Interactive Breakdown

Better Bets vs. Perella Weinberg Partners (PWP)

INDUSTRY: Diversified Capital Markets

Higher Rev Chg 3Y Avg | Lower P/S (Values for PWP: 7.9% | 1.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for PWP: 7.9% | 24.2x)

Higher Rev Chg LTM (Value for PWP: -14.5%)

Higher Rev Chg 3Y Avg (Value for PWP: 7.9%)

Higher Op Mgn LTM (Value for PWP: 6.4%)

Higher CFO/Rev LTM (Value for PWP: 4.6%)

Higher FCF/Rev LTM (Value for PWP: 4.1%)

Higher Total Yield (Value for PWP: 5.4%)

SECTOR: Financials

Higher Rev Chg 3Y Avg | Lower P/S (Values for PWP: 7.9% | 1.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for PWP: 7.9% | 24.2x)

Higher Rev Chg LTM (Value for PWP: -14.5%)

Higher Rev Chg 3Y Avg (Value for PWP: 7.9%)

Higher Op Mgn LTM (Value for PWP: 6.4%)

Higher CFO/Rev LTM (Value for PWP: 4.6%)

Higher FCF/Rev LTM (Value for PWP: 4.1%)

Higher Total Yield (Value for PWP: 5.4%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for PWP: 7.9% | 1.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for PWP: 7.9% | 24.2x)

Higher Rev Chg LTM (Value for PWP: -14.5%)

Higher Rev Chg 3Y Avg (Value for PWP: 7.9%)

Higher Op Mgn LTM (Value for PWP: 6.4%)

Higher CFO/Rev LTM (Value for PWP: 4.6%)

Higher FCF/Rev LTM (Value for PWP: 4.1%)

Higher Total Yield (Value for PWP: 5.4%)

Best Bets in Financials

P/EBIT (Value for PWP: 24.2x)

P/E (Value for PWP: 32.8x)

Rev Chg 3Y Avg (Value for PWP: 7.9%)

Rev Chg LTM (Value for PWP: -14.5%)

Rev Chg Q (Value for PWP: -2.9%)

FCF/Rev 3Y Avg (Value for PWP: 13.7%)

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Market Price (3/30/2026): $17.25 | Market Cap: $1.2 Bil
Sector: Financials | Industry: Diversified Capital Markets

Market Price (3/30/2026): $17.25
Market Cap: $1.2 Bil
Sector: Financials
Industry: Diversified Capital Markets