)
Perella Weinberg Partners (PWP) investor relations material
Perella Weinberg Partners Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Full year 2025 revenues reached $751 million, down 14% from 2024's record but still among the highest in firm history, with Q4 revenues at $219 million, including $18.5 million from early 2026 closings.
Adjusted pre-tax income for 2025 was $82 million, with adjusted EPS at $0.68 for the year and $0.17 for Q4.
The business remains asset-light, ending 2025 with $256 million in cash and no debt.
Significant talent investment included 23 new senior bankers, 12 new partners, and 11 managing directors in 2025, plus the acquisition of Devon Park Advisors to expand secondaries advisory.
Record revenues achieved in Europe and the Restructuring practice, with meaningful market share gains.
Financial highlights
Adjusted compensation margin was 68% for 2025, up from 67% in 2024, with adjusted total compensation and benefits at $511.9 million.
Adjusted non-compensation expense was $159 million, down 2% year-over-year and below projected growth.
GAAP net income attributable for FY 2025 was $35.5 million, up from a loss of $64.7 million in 2024.
Over $163 million was returned to equity holders in 2025 via dividends, RSU settlements, share repurchases, and unit exchanges.
6.5 million shares were retired during the year, with 67 million Class A shares and 22 million partnership units outstanding at year-end.
Outlook and guidance
Optimism for 2026 driven by a record pipeline and strong backlog, with positive client sentiment across sectors and favorable conditions for M&A, financing, and capital solutions.
Expectation of a further single-digit percentage decrease in non-compensation expenses for 2026.
Restructuring business environment remains strong, with no slowdown anticipated and continued high activity in liability management.
Recruiting expected to return to trend levels in 2026, with a strong pipeline of candidates.
The platform is targeting an initial milestone of $1B+ in annual revenue, with expectations of scale benefits as this is approached.
Next Perella Weinberg Partners earnings date
Next Perella Weinberg Partners earnings date
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage
)
)