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Side-by-side financial comparison of Kennedy-Wilson Holdings, Inc. (KW) 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 $120.6M, roughly 1.8× Kennedy-Wilson Holdings, Inc.). Kennedy-Wilson Holdings, Inc. runs the higher net margin — 48.1% vs 6.3%, a 41.8% gap on every dollar of revenue. On growth, Perella Weinberg Partners posted the faster year-over-year revenue change (-2.9% vs -11.0%). Perella Weinberg Partners produced more free cash flow last quarter ($30.5M vs $-55.2M). Over the past eight quarters, Perella Weinberg Partners's revenue compounded faster (46.5% CAGR vs -6.0%).
Kennedy Wilson is a real estate investment company headquartered in Beverly Hills, California, United States.
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.
KW vs PWP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $120.6M | $219.2M |
| Net Profit | $58.0M | $13.8M |
| Gross Margin | — | — |
| Operating Margin | 57.3% | 8.5% |
| Net Margin | 48.1% | 6.3% |
| Revenue YoY | -11.0% | -2.9% |
| Net Profit YoY | 32.7% | — |
| EPS (diluted) | $0.22 | $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 | $120.6M | $219.2M | ||
| Q3 25 | $116.4M | $164.6M | ||
| Q2 25 | $135.7M | $155.3M | ||
| Q1 25 | $128.3M | $211.8M | ||
| Q4 24 | $135.5M | $225.7M | ||
| Q3 24 | $127.5M | $278.2M | ||
| Q2 24 | $132.0M | $272.0M | ||
| Q1 24 | $136.4M | $102.1M |
| Q4 25 | $58.0M | $13.8M | ||
| Q3 25 | $-10.2M | $6.0M | ||
| Q2 25 | $5.6M | $2.7M | ||
| Q1 25 | $-29.6M | $17.3M | ||
| Q4 24 | $43.7M | — | ||
| Q3 24 | $-66.8M | $16.4M | ||
| Q2 24 | $-48.3M | $-66.0M | ||
| Q1 24 | $37.7M | $-35.8M |
| Q4 25 | 57.3% | 8.5% | ||
| Q3 25 | -6.2% | 5.4% | ||
| Q2 25 | 7.4% | 5.8% | ||
| Q1 25 | -26.9% | 5.5% | ||
| Q4 24 | 36.7% | — | ||
| Q3 24 | -60.8% | 12.9% | ||
| Q2 24 | -45.5% | -30.2% | ||
| Q1 24 | 47.2% | -52.4% |
| Q4 25 | 48.1% | 6.3% | ||
| Q3 25 | -8.8% | 3.6% | ||
| Q2 25 | 4.1% | 1.8% | ||
| Q1 25 | -23.1% | 8.2% | ||
| Q4 24 | 32.3% | — | ||
| Q3 24 | -52.4% | 5.9% | ||
| Q2 24 | -36.6% | -24.3% | ||
| Q1 24 | 27.6% | -35.1% |
| Q4 25 | $0.22 | $0.11 | ||
| Q3 25 | $-0.15 | $0.08 | ||
| Q2 25 | $-0.05 | $0.04 | ||
| Q1 25 | $-0.30 | $0.24 | ||
| Q4 24 | $0.24 | — | ||
| Q3 24 | $-0.56 | $0.24 | ||
| Q2 24 | $-0.43 | $-1.21 | ||
| Q1 24 | $0.19 | $-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 | $184.5M | $255.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.5B | $-127.4M |
| Total Assets | $6.6B | $797.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $184.5M | $255.9M | ||
| Q3 25 | $382.6M | $185.5M | ||
| Q2 25 | $309.1M | $145.0M | ||
| Q1 25 | $356.6M | $111.2M | ||
| Q4 24 | $217.5M | $407.4M | ||
| Q3 24 | $367.1M | $335.1M | ||
| Q2 24 | $366.5M | $185.3M | ||
| Q1 24 | $541.9M | $156.7M |
| Q4 25 | $1.5B | $-127.4M | ||
| Q3 25 | $1.5B | $-302.4M | ||
| Q2 25 | $1.6B | $-318.4M | ||
| Q1 25 | $1.6B | $-323.1M | ||
| Q4 24 | $1.6B | $-421.4M | ||
| Q3 24 | $1.6B | $-360.8M | ||
| Q2 24 | $1.7B | $-283.0M | ||
| Q1 24 | $1.7B | $161.9M |
| Q4 25 | $6.6B | $797.6M | ||
| Q3 25 | $6.7B | $650.2M | ||
| Q2 25 | $6.8B | $606.7M | ||
| Q1 25 | $7.2B | $570.5M | ||
| Q4 24 | $7.0B | $876.8M | ||
| Q3 24 | $7.4B | $810.9M | ||
| Q2 24 | $7.5B | $645.5M | ||
| Q1 24 | $7.7B | $583.6M |
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 | $11.4M | $34.8M |
| Free Cash FlowOCF − Capex | $-55.2M | $30.5M |
| FCF MarginFCF / Revenue | -45.8% | 13.9% |
| Capex IntensityCapex / Revenue | 55.2% | 2.0% |
| Cash ConversionOCF / Net Profit | 0.20× | 2.52× |
| TTM Free Cash FlowTrailing 4 quarters | $-103.5M | $-34.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.4M | $34.8M | ||
| Q3 25 | $-7.6M | $59.2M | ||
| Q2 25 | $42.0M | $56.1M | ||
| Q1 25 | $-51.9M | $-176.5M | ||
| Q4 24 | $55.1M | $223.4M | ||
| Q3 24 | $-5.6M | $200.3M | ||
| Q2 24 | $36.7M | $90.0M | ||
| Q1 24 | $-5.6M | $-206.3M |
| Q4 25 | $-55.2M | $30.5M | ||
| Q3 25 | $-18.0M | $57.6M | ||
| Q2 25 | $29.4M | $55.3M | ||
| Q1 25 | $-59.7M | $-177.6M | ||
| Q4 24 | $-76.5M | $207.0M | ||
| Q3 24 | $-27.7M | $199.3M | ||
| Q2 24 | $-500.0K | $83.7M | ||
| Q1 24 | $-57.1M | $-214.8M |
| Q4 25 | -45.8% | 13.9% | ||
| Q3 25 | -15.5% | 35.0% | ||
| Q2 25 | 21.7% | 35.6% | ||
| Q1 25 | -46.5% | -83.8% | ||
| Q4 24 | -56.5% | 91.7% | ||
| Q3 24 | -21.7% | 71.6% | ||
| Q2 24 | -0.4% | 30.8% | ||
| Q1 24 | -41.9% | -210.3% |
| Q4 25 | 55.2% | 2.0% | ||
| Q3 25 | 8.9% | 0.9% | ||
| Q2 25 | 9.3% | 0.5% | ||
| Q1 25 | 6.1% | 0.5% | ||
| Q4 24 | 97.1% | 7.3% | ||
| Q3 24 | 17.3% | 0.4% | ||
| Q2 24 | 28.2% | 2.3% | ||
| Q1 24 | 37.8% | 8.3% |
| Q4 25 | 0.20× | 2.52× | ||
| Q3 25 | — | 9.85× | ||
| Q2 25 | 7.50× | 20.50× | ||
| Q1 25 | — | -10.18× | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | — | 12.23× | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.15× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KW
| Consolidated Portfolio Segment | $84.9M | 70% |
| Investment Management Fees | $30.4M | 25% |
| Real Estate | $5.1M | 4% |
PWP
Segment breakdown not available.
