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Side-by-side financial comparison of Piedmont Realty Trust, Inc. (PDM) 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 $143.3M, roughly 1.5× Piedmont Realty Trust, Inc.). Perella Weinberg Partners runs the higher net margin — 6.3% vs -31.4%, a 37.7% gap on every dollar of revenue. On growth, Piedmont Realty Trust, Inc. posted the faster year-over-year revenue change (0.4% vs -2.9%). Over the past eight quarters, Perella Weinberg Partners's revenue compounded faster (46.5% CAGR vs 0.0%).
Piedmont Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality office properties primarily located in high-growth metropolitan areas across the United States. It serves corporate tenants across multiple industry sectors including technology, professional services, and healthcare, and pursues stable long-term returns for stakeholders via strategic property management and portfolio optimization.
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.
PDM vs PWP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $143.3M | $219.2M |
| Net Profit | $-45.0M | $13.8M |
| Gross Margin | — | — |
| Operating Margin | — | 8.5% |
| Net Margin | -31.4% | 6.3% |
| Revenue YoY | 0.4% | -2.9% |
| Net Profit YoY | -27.9% | — |
| EPS (diluted) | $-0.10 | $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.
| Q1 26 | $143.3M | — | ||
| Q4 25 | $142.9M | $219.2M | ||
| Q3 25 | $139.2M | $164.6M | ||
| Q2 25 | $140.3M | $155.3M | ||
| Q1 25 | $142.7M | $211.8M | ||
| Q4 24 | $143.2M | $225.7M | ||
| Q3 24 | $139.3M | $278.2M | ||
| Q2 24 | $143.3M | $272.0M |
| Q1 26 | $-45.0M | — | ||
| Q4 25 | $-43.2M | $13.8M | ||
| Q3 25 | $-13.5M | $6.0M | ||
| Q2 25 | $-16.8M | $2.7M | ||
| Q1 25 | $-10.1M | $17.3M | ||
| Q4 24 | $-30.0M | — | ||
| Q3 24 | $-11.5M | $16.4M | ||
| Q2 24 | $-9.8M | $-66.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 8.5% | ||
| Q3 25 | — | 5.4% | ||
| Q2 25 | — | 5.8% | ||
| Q1 25 | — | 5.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 12.9% | ||
| Q2 24 | — | -30.2% |
| Q1 26 | -31.4% | — | ||
| Q4 25 | -30.3% | 6.3% | ||
| Q3 25 | -9.7% | 3.6% | ||
| Q2 25 | -12.0% | 1.8% | ||
| Q1 25 | -7.1% | 8.2% | ||
| Q4 24 | -20.9% | — | ||
| Q3 24 | -8.3% | 5.9% | ||
| Q2 24 | -6.8% | -24.3% |
| Q1 26 | $-0.10 | — | ||
| Q4 25 | $-0.34 | $0.11 | ||
| Q3 25 | $-0.11 | $0.08 | ||
| Q2 25 | $-0.14 | $0.04 | ||
| Q1 25 | $-0.08 | $0.24 | ||
| Q4 24 | $-0.25 | — | ||
| Q3 24 | $-0.09 | $0.24 | ||
| Q2 24 | $-0.08 | $-1.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.3M | $255.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.5B | $-127.4M |
| Total Assets | $4.0B | $797.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.3M | — | ||
| Q4 25 | $731.0K | $255.9M | ||
| Q3 25 | $3.0M | $185.5M | ||
| Q2 25 | $3.3M | $145.0M | ||
| Q1 25 | $2.9M | $111.2M | ||
| Q4 24 | $109.6M | $407.4M | ||
| Q3 24 | $133.6M | $335.1M | ||
| Q2 24 | $138.5M | $185.3M |
| Q1 26 | — | — | ||
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.2B | — | ||
| Q2 24 | $2.2B | — |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.5B | $-127.4M | ||
| Q3 25 | $1.5B | $-302.4M | ||
| Q2 25 | $1.5B | $-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 26 | $4.0B | — | ||
| Q4 25 | $4.0B | $797.6M | ||
| Q3 25 | $4.0B | $650.2M | ||
| Q2 25 | $4.0B | $606.7M | ||
| Q1 25 | $4.0B | $570.5M | ||
| Q4 24 | $4.1B | $876.8M | ||
| Q3 24 | $4.1B | $810.9M | ||
| Q2 24 | $4.2B | $645.5M |
| Q1 26 | — | — | ||
| Q4 25 | 1.49× | — | ||
| Q3 25 | 1.43× | — | ||
| Q2 25 | 1.41× | — | ||
| Q1 25 | 1.40× | — | ||
| Q4 24 | 1.40× | — | ||
| Q3 24 | 1.36× | — | ||
| Q2 24 | 1.34× | — |
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 | — | $34.8M |
| Free Cash FlowOCF − Capex | — | $30.5M |
| FCF MarginFCF / Revenue | — | 13.9% |
| Capex IntensityCapex / Revenue | 110.3% | 2.0% |
| Cash ConversionOCF / Net Profit | — | 2.52× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-34.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $140.6M | $34.8M | ||
| Q3 25 | $35.8M | $59.2M | ||
| Q2 25 | $50.1M | $56.1M | ||
| Q1 25 | $3.7M | $-176.5M | ||
| Q4 24 | $198.1M | $223.4M | ||
| Q3 24 | $42.9M | $200.3M | ||
| Q2 24 | $66.8M | $90.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $30.5M | ||
| Q3 25 | — | $57.6M | ||
| Q2 25 | — | $55.3M | ||
| Q1 25 | — | $-177.6M | ||
| Q4 24 | — | $207.0M | ||
| Q3 24 | — | $199.3M | ||
| Q2 24 | — | $83.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | 13.9% | ||
| Q3 25 | — | 35.0% | ||
| Q2 25 | — | 35.6% | ||
| Q1 25 | — | -83.8% | ||
| Q4 24 | — | 91.7% | ||
| Q3 24 | — | 71.6% | ||
| Q2 24 | — | 30.8% |
| Q1 26 | 110.3% | — | ||
| Q4 25 | — | 2.0% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 2.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.52× | ||
| Q3 25 | — | 9.85× | ||
| Q2 25 | — | 20.50× | ||
| Q1 25 | — | -10.18× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 12.23× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
