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Side-by-side financial comparison of PJT Partners Inc. (PJT) and Royalty Pharma plc (RPRX). Click either name above to swap in a different company.
Royalty Pharma plc is the larger business by last-quarter revenue ($622.0M vs $531.4M, roughly 1.2× PJT Partners Inc.). Royalty Pharma plc runs the higher net margin — 34.4% vs 10.0%, a 24.4% gap on every dollar of revenue. On growth, PJT Partners Inc. posted the faster year-over-year revenue change (12.9% vs 4.8%). Over the past eight quarters, PJT Partners Inc.'s revenue compounded faster (27.5% CAGR vs 4.6%).
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.
Acceleron Pharma, Inc. is an American clinical stage biopharmaceutical company based in Cambridge, Massachusetts with a broad focus on developing medicines that regulate the transforming growth factor beta (TGF-β) superfamily of proteins, which play fundamental roles in the growth and repair of cells and tissues such as red blood cells, muscle, bone, and blood vessels.
PJT vs RPRX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $531.4M | $622.0M |
| Net Profit | $53.4M | $214.2M |
| Gross Margin | — | — |
| Operating Margin | 23.1% | 62.4% |
| Net Margin | 10.0% | 34.4% |
| Revenue YoY | 12.9% | 4.8% |
| Net Profit YoY | 4.0% | 2.9% |
| EPS (diluted) | — | $0.49 |
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 | $531.4M | $622.0M | ||
| Q3 25 | $442.3M | $609.3M | ||
| Q2 25 | $401.1M | $578.7M | ||
| Q1 25 | $321.9M | $568.2M | ||
| Q4 24 | $470.5M | $593.6M | ||
| Q3 24 | $320.3M | $564.7M | ||
| Q2 24 | $358.1M | $537.3M | ||
| Q1 24 | $327.1M | $568.0M |
| Q4 25 | $53.4M | $214.2M | ||
| Q3 25 | $39.8M | $288.2M | ||
| Q2 25 | $32.9M | $30.2M | ||
| Q1 25 | $54.0M | $238.3M | ||
| Q4 24 | $51.3M | $208.2M | ||
| Q3 24 | $22.1M | $544.0M | ||
| Q2 24 | $28.3M | $102.0M | ||
| Q1 24 | $32.6M | $4.8M |
| Q4 25 | 23.1% | 62.4% | ||
| Q3 25 | 20.6% | 70.1% | ||
| Q2 25 | 19.1% | 36.3% | ||
| Q1 25 | 16.3% | 94.0% | ||
| Q4 24 | 21.9% | 60.9% | ||
| Q3 24 | 15.4% | — | ||
| Q2 24 | 18.0% | 50.2% | ||
| Q1 24 | 16.5% | -13.0% |
| Q4 25 | 10.0% | 34.4% | ||
| Q3 25 | 9.0% | 47.3% | ||
| Q2 25 | 8.2% | 5.2% | ||
| Q1 25 | 16.8% | 41.9% | ||
| Q4 24 | 10.9% | 35.1% | ||
| Q3 24 | 6.9% | 96.3% | ||
| Q2 24 | 7.9% | 19.0% | ||
| Q1 24 | 10.0% | 0.8% |
| Q4 25 | — | $0.49 | ||
| Q3 25 | — | $0.67 | ||
| Q2 25 | — | $0.07 | ||
| Q1 25 | — | $0.55 | ||
| Q4 24 | — | $0.46 | ||
| Q3 24 | — | $1.21 | ||
| Q2 24 | — | $0.23 | ||
| Q1 24 | — | $0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $538.9M | $618.7M |
| Total DebtLower is stronger | — | $9.0B |
| Stockholders' EquityBook value | $308.2M | $9.7B |
| Total Assets | $1.8B | $19.6B |
| Debt / EquityLower = less leverage | — | 0.92× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $538.9M | $618.7M | ||
| Q3 25 | $400.5M | $938.9M | ||
| Q2 25 | $214.6M | $631.9M | ||
| Q1 25 | $194.3M | $1.1B | ||
| Q4 24 | $483.9M | $929.0M | ||
| Q3 24 | $148.8M | $950.1M | ||
| Q2 24 | $164.2M | $1.8B | ||
| Q1 24 | $215.5M | $843.0M |
| Q4 25 | — | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | — | $7.6B | ||
| Q2 24 | — | $7.6B | ||
| Q1 24 | — | $6.1B |
| Q4 25 | $308.2M | $9.7B | ||
| Q3 25 | $228.6M | $9.6B | ||
| Q2 25 | $167.4M | $9.5B | ||
| Q1 25 | $148.8M | $9.8B | ||
| Q4 24 | $187.0M | $10.3B | ||
| Q3 24 | $159.1M | $10.3B | ||
| Q2 24 | $133.8M | $9.8B | ||
| Q1 24 | $174.6M | $9.9B |
| Q4 25 | $1.8B | $19.6B | ||
| Q3 25 | $1.7B | $19.3B | ||
| Q2 25 | $1.5B | $18.3B | ||
| Q1 25 | $1.4B | $17.6B | ||
| Q4 24 | $1.6B | $18.2B | ||
| Q3 24 | $1.6B | $18.0B | ||
| Q2 24 | $1.4B | $17.7B | ||
| Q1 24 | $1.3B | $16.1B |
| Q4 25 | — | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.62× |
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 | $155.7M | $827.1M |
| Free Cash FlowOCF − Capex | $138.6M | — |
| FCF MarginFCF / Revenue | 26.1% | — |
| Capex IntensityCapex / Revenue | 3.2% | — |
| Cash ConversionOCF / Net Profit | 2.92× | 3.86× |
| TTM Free Cash FlowTrailing 4 quarters | $480.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $155.7M | $827.1M | ||
| Q3 25 | $256.1M | $702.6M | ||
| Q2 25 | $190.4M | $364.0M | ||
| Q1 25 | $-75.9M | $596.1M | ||
| Q4 24 | $195.7M | $742.5M | ||
| Q3 24 | $180.5M | $703.6M | ||
| Q2 24 | $193.6M | $658.2M | ||
| Q1 24 | $-38.8M | $664.6M |
| Q4 25 | $138.6M | — | ||
| Q3 25 | $240.9M | — | ||
| Q2 25 | $178.9M | — | ||
| Q1 25 | $-77.9M | — | ||
| Q4 24 | $195.3M | — | ||
| Q3 24 | $178.5M | — | ||
| Q2 24 | $193.0M | — | ||
| Q1 24 | $-39.2M | — |
| Q4 25 | 26.1% | — | ||
| Q3 25 | 54.5% | — | ||
| Q2 25 | 44.6% | — | ||
| Q1 25 | -24.2% | — | ||
| Q4 24 | 41.5% | — | ||
| Q3 24 | 55.7% | — | ||
| Q2 24 | 53.9% | — | ||
| Q1 24 | -12.0% | — |
| Q4 25 | 3.2% | — | ||
| Q3 25 | 3.4% | — | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 0.6% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.6% | — | ||
| Q2 24 | 0.1% | — | ||
| Q1 24 | 0.1% | — |
| Q4 25 | 2.92× | 3.86× | ||
| Q3 25 | 6.43× | 2.44× | ||
| Q2 25 | 5.79× | 12.06× | ||
| Q1 25 | -1.41× | 2.50× | ||
| Q4 24 | 3.81× | 3.57× | ||
| Q3 24 | 8.15× | 1.29× | ||
| Q2 24 | 6.84× | 6.45× | ||
| Q1 24 | -1.19× | 139.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PJT
Segment breakdown not available.
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
