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Side-by-side financial comparison of Donnelley Financial Solutions, Inc. (DFIN) and Perella Weinberg Partners (PWP). Click either name above to swap in a different company.
Perella Weinberg Partners is the larger business by last-quarter revenue ($219.2M vs $172.5M, roughly 1.3× Donnelley Financial Solutions, Inc.). Perella Weinberg Partners runs the higher net margin — 6.3% vs 3.6%, a 2.7% gap on every dollar of revenue. On growth, Donnelley Financial Solutions, Inc. posted the faster year-over-year revenue change (10.4% vs -2.9%). Donnelley Financial Solutions, Inc. produced more free cash flow last quarter ($47.9M vs $30.5M). Over the past eight quarters, Perella Weinberg Partners's revenue compounded faster (46.5% CAGR vs -7.9%).
Donnelley Financial Solutions (DFIN) is a financial compliance company based in Chicago, Illinois, United States. The company provides software as a service (SaaS) products, software-enabled services (SeS), print, and compliance services related to US Securities and Exchange Commission regulations to companies in capital and investment markets.
PJT Partners, Inc. is a global advisory-focused investment bank, founded in October 2015 as part of The Blackstone Group's spin-off of its financial and strategic advisory services businesses.
DFIN vs PWP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $172.5M | $219.2M |
| Net Profit | $6.2M | $13.8M |
| Gross Margin | — | — |
| Operating Margin | 8.3% | 8.5% |
| Net Margin | 3.6% | 6.3% |
| Revenue YoY | 10.4% | -2.9% |
| Net Profit YoY | -1.6% | — |
| EPS (diluted) | $0.31 | $0.11 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $172.5M | $219.2M | ||
| Q3 25 | $175.3M | $164.6M | ||
| Q2 25 | $218.1M | $155.3M | ||
| Q1 25 | $201.1M | $211.8M | ||
| Q4 24 | $156.3M | $225.7M | ||
| Q3 24 | $179.5M | $278.2M | ||
| Q2 24 | $242.7M | $272.0M | ||
| Q1 24 | $203.4M | $102.1M |
| Q4 25 | $6.2M | $13.8M | ||
| Q3 25 | $-40.9M | $6.0M | ||
| Q2 25 | $36.1M | $2.7M | ||
| Q1 25 | $31.0M | $17.3M | ||
| Q4 24 | $6.3M | — | ||
| Q3 24 | $8.7M | $16.4M | ||
| Q2 24 | $44.1M | $-66.0M | ||
| Q1 24 | $33.3M | $-35.8M |
| Q4 25 | 8.3% | 8.5% | ||
| Q3 25 | 16.1% | 5.4% | ||
| Q2 25 | 24.2% | 5.8% | ||
| Q1 25 | 22.8% | 5.5% | ||
| Q4 24 | 6.0% | — | ||
| Q3 24 | 10.1% | 12.9% | ||
| Q2 24 | 26.6% | -30.2% | ||
| Q1 24 | 21.9% | -52.4% |
| Q4 25 | 3.6% | 6.3% | ||
| Q3 25 | -23.3% | 3.6% | ||
| Q2 25 | 16.6% | 1.8% | ||
| Q1 25 | 15.4% | 8.2% | ||
| Q4 24 | 4.0% | — | ||
| Q3 24 | 4.8% | 5.9% | ||
| Q2 24 | 18.2% | -24.3% | ||
| Q1 24 | 16.4% | -35.1% |
| Q4 25 | $0.31 | $0.11 | ||
| Q3 25 | $-1.49 | $0.08 | ||
| Q2 25 | $1.28 | $0.04 | ||
| Q1 25 | $1.05 | $0.24 | ||
| Q4 24 | $0.21 | — | ||
| Q3 24 | $0.29 | $0.24 | ||
| Q2 24 | $1.47 | $-1.21 | ||
| Q1 24 | $1.09 | $-0.91 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $24.5M | $255.9M |
| Total DebtLower is stronger | $171.3M | — |
| Stockholders' EquityBook value | $379.2M | $-127.4M |
| Total Assets | $800.4M | $797.6M |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.5M | $255.9M | ||
| Q3 25 | $22.7M | $185.5M | ||
| Q2 25 | $33.8M | $145.0M | ||
| Q1 25 | $16.2M | $111.2M | ||
| Q4 24 | $57.3M | $407.4M | ||
| Q3 24 | $33.6M | $335.1M | ||
| Q2 24 | $35.0M | $185.3M | ||
| Q1 24 | $43.7M | $156.7M |
| Q4 25 | $171.3M | — | ||
| Q3 25 | $154.7M | — | ||
| Q2 25 | $190.1M | — | ||
| Q1 25 | $189.5M | — | ||
| Q4 24 | $124.7M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $379.2M | $-127.4M | ||
| Q3 25 | $423.1M | $-302.4M | ||
| Q2 25 | $432.1M | $-318.4M | ||
| Q1 25 | $419.9M | $-323.1M | ||
| Q4 24 | $436.1M | $-421.4M | ||
| Q3 24 | $444.5M | $-360.8M | ||
| Q2 24 | $441.5M | $-283.0M | ||
| Q1 24 | $408.9M | $161.9M |
| Q4 25 | $800.4M | $797.6M | ||
| Q3 25 | $816.3M | $650.2M | ||
| Q2 25 | $874.7M | $606.7M | ||
| Q1 25 | $852.8M | $570.5M | ||
| Q4 24 | $841.6M | $876.8M | ||
| Q3 24 | $843.6M | $810.9M | ||
| Q2 24 | $882.9M | $645.5M | ||
| Q1 24 | $867.8M | $583.6M |
| Q4 25 | 0.45× | — | ||
| Q3 25 | 0.37× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.45× | — | ||
| Q4 24 | 0.29× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $59.8M | $34.8M |
| Free Cash FlowOCF − Capex | $47.9M | $30.5M |
| FCF MarginFCF / Revenue | 27.8% | 13.9% |
| Capex IntensityCapex / Revenue | 6.9% | 2.0% |
| Cash ConversionOCF / Net Profit | 9.65× | 2.52× |
| TTM Free Cash FlowTrailing 4 quarters | $107.8M | $-34.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $59.8M | $34.8M | ||
| Q3 25 | $74.4M | $59.2M | ||
| Q2 25 | $68.4M | $56.1M | ||
| Q1 25 | $-37.7M | $-176.5M | ||
| Q4 24 | $56.4M | $223.4M | ||
| Q3 24 | $86.4M | $200.3M | ||
| Q2 24 | $56.2M | $90.0M | ||
| Q1 24 | $-27.9M | $-206.3M |
| Q4 25 | $47.9M | $30.5M | ||
| Q3 25 | $59.2M | $57.6M | ||
| Q2 25 | $51.7M | $55.3M | ||
| Q1 25 | $-51.0M | $-177.6M | ||
| Q4 24 | $41.3M | $207.0M | ||
| Q3 24 | $67.3M | $199.3M | ||
| Q2 24 | $36.8M | $83.7M | ||
| Q1 24 | $-40.2M | $-214.8M |
| Q4 25 | 27.8% | 13.9% | ||
| Q3 25 | 33.8% | 35.0% | ||
| Q2 25 | 23.7% | 35.6% | ||
| Q1 25 | -25.4% | -83.8% | ||
| Q4 24 | 26.4% | 91.7% | ||
| Q3 24 | 37.5% | 71.6% | ||
| Q2 24 | 15.2% | 30.8% | ||
| Q1 24 | -19.8% | -210.3% |
| Q4 25 | 6.9% | 2.0% | ||
| Q3 25 | 8.7% | 0.9% | ||
| Q2 25 | 7.7% | 0.5% | ||
| Q1 25 | 6.6% | 0.5% | ||
| Q4 24 | 9.7% | 7.3% | ||
| Q3 24 | 10.6% | 0.4% | ||
| Q2 24 | 8.0% | 2.3% | ||
| Q1 24 | 6.0% | 8.3% |
| Q4 25 | 9.65× | 2.52× | ||
| Q3 25 | — | 9.85× | ||
| Q2 25 | 1.89× | 20.50× | ||
| Q1 25 | -1.22× | -10.18× | ||
| Q4 24 | 8.95× | — | ||
| Q3 24 | 9.93× | 12.23× | ||
| Q2 24 | 1.27× | — | ||
| Q1 24 | -0.84× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DFIN
| Technology Service | $68.0M | 39% |
| Capital Markets Compliance And Communications Management | $61.6M | 36% |
| Investment Companies Software Solutions | $30.9M | 18% |
| Print And Distribution Service | $13.6M | 8% |
PWP
Segment breakdown not available.
