Perella Weinberg Partners PWP
We are a leading global independent advisory firm that provides strategic and financial advice to clients across the most active industry sectors and international markets. Our wide range of global clients include large public multinational corporations, mid-sized public and private companies, financial sponsors, individual entrepreneurs, private and institutional investors, creditor committees and government institutions.
We were founded in June 2006 with the opening of offices in New York and London, led by a team of ten seasoned advisory partners who previously held senior management positions at large global investment banks. The foundation of our Company was rooted in a belief, among other considerations, that clients would increasingly seek out deeply experienced advisors who offer independent strategic thinking and who are not burdened by the complicated conflicts that large investment banking institutions may face due to their various businesses. The 2008 global financial crisis reinforced this hypothesis and contributed to the early growth of our Company. Today, we believe that our independence is even more important. For clients and for us, independence means freedom from the distractions that dilute strategic thinking and a willingness and candor to share an honest opinion, even if at times it is contrary to our clients' point of view. We believe that our clients choose to engage us because they value our unbiased perspective and expert advice regarding complex financial and strategic matters.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $750.9M | $878.0M | $648.7M | $631.5M | $801.7M | $519.0M | $533.3M | — |
| SG&A | $18.0M | $22.8M | $20.1M | $20.2M | $17.0M | $15.1M | $15.7M | — |
| Total operating expenses | $702.9M | $956.6M | $763.8M | $679.2M | $735.1M | $533.6M | $688.4M | — |
| Operating income | $48.0M | -$78.5M | -$115.1M | -$47.7M | $66.6M | -$14.6M | -$155.1M | — |
| Interest expense | — | — | $276.0K | $276.0K | $7.6M | $15.7M | $15.4M | — |
| Pre-tax income | $51.5M | -$68.3M | -$112.8M | -$21.4M | $22.9M | -$20.9M | -$161.6M | — |
| Income tax | $3.5M | $21.1M | $980.0K | $10.3M | $18.9M | $3.5M | $2.4M | — |
| Net income | $48.0M | -$89.0M | -$112.0M | -$32.0M | -$9.4M | -$24.3M | -$164.0M | — |
| EPS, basic | 0.55 | -1.22 | -0.40 | 0.41 | -0.22 | — | — | — |
| EPS, diluted | 0.47 | -1.22 | -1.33 | -0.46 | -0.66 | — | — | — |
| Shares, diluted (wtd. avg.) | $100.8M | $53.2M | $86.8M | $89.8M | $92.7M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $255.9M | $331.6M | $250.1M | $174.2M | $504.8M | $330.9M | $266.6M | $408.5M |
| Short-term investments | $0 | $75.8M | $91.2M | $140.1M | $0 | — | — | — |
| Total current assets | — | — | — | — | — | $1.4M | $10.8K | — |
| Property, plant and equipment | $77.2M | $84.9M | $93.7M | $48.4M | $10.4M | $17.2M | — | — |
| Goodwill | $72.7M | $34.4M | $34.4M | $34.4M | $34.4M | $34.4M | — | — |
| Other intangibles | $12.5M | $12.6M | $19.2M | $25.8M | $32.4M | $38.9M | — | — |
| Total assets | $797.6M | $876.8M | $761.1M | $717.1M | $718.3M | $543.0M | $65.6K | — |
| Total current liabilities | — | — | — | — | — | $793.0K | $42.9K | — |
| Long-term debt | — | — | — | — | $0 | $147.0M | — | — |
| Total liabilities | $536.9M | $647.0M | $492.9M | $457.0M | $447.0M | $468.8M | $42.9K | — |
| Retained earnings | -$130.6M | -$303.7M | -$54.6M | -$18.1M | -$18.1M | $0 | -$2.3K | — |
| Total equity | -$127.4M | -$421.4M | $268.2M | $260.1M | $271.4M | $74.2M | $81.9M | $92.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $34.8M | $223.4M | $145.9M | -$17.8M | $234.9M | $85.9M | -$106.1M | — |
| Depreciation and amortisation | $13.3M | $13.7M | $7.8M | $3.1M | $6.7M | $7.3M | $7.8M | — |
| Stock-based compensation | $110.5M | $188.9M | $184.5M | $156.4M | $97.0M | $24.8M | $193.3M | — |
| Capital expenditure | $4.3M | $16.4M | $57.6M | $26.6M | $1.5M | $5.5M | $7.4M | — |
| Investing cash flow | $51.7M | -$98.0K | -$5.8M | -$166.2M | -$2.4M | -$5.5M | -$7.3M | — |
| Financing cash flow | -$168.6M | -$137.3M | -$67.0M | -$136.8M | -$55.0M | -$22.0M | -$30.2M | — |
| Dividends paid | $22.9M | $20.3M | $13.1M | $12.8M | $6.0M | $0 | $0 | — |
| Buybacks | $33.7M | $15.0M | $22.5M | $68.7M | $12.0M | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001777835-26-000029.
Others in SIC 6199
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|---|---|---|---|---|
| AXP | AMERICAN EXPRESS CO | $220.26B | 21.2x | 6.4% |
| MSTR | Strategy Inc | $50.34B | — | 3.0% |
| COIN | Coinbase Global, Inc. | $48.64B | 41.5x | 9.4% |
| SYF | Synchrony Financial | $26.00B | 8.6x | — |
| CRCL | Circle Internet Group, Inc. | $25.33B | — | 624.0% |
| SOFI | SoFi Technologies, Inc. | $23.53B | 46.7x | 23.1% |
| IREN | IREN Ltd | $15.97B | — | 41.1% |
| BMNR | BITMINE IMMERSION TECHNOLOGIES, INC. | $15.06B | 1.9x | 84.1% |