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Side-by-side financial comparison of PJT Partners Inc. (PJT) and WYNDHAM HOTELS & RESORTS, INC. (WH). Click either name above to swap in a different company.
PJT Partners Inc. is the larger business by last-quarter revenue ($531.4M vs $334.0M, roughly 1.6× WYNDHAM HOTELS & RESORTS, INC.). PJT Partners Inc. runs the higher net margin — 10.0% vs -18.0%, a 28.0% gap on every dollar of revenue. On growth, PJT Partners Inc. posted the faster year-over-year revenue change (12.9% vs -76.3%). WYNDHAM HOTELS & RESORTS, INC. produced more free cash flow last quarter ($168.0M vs $138.6M). 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.
Wyndham Hotels & Resorts, Inc., is an American hospitality company based in Parsippany, New Jersey, United States. It describes itself as the largest hotel franchisor in the world, with 9,100 locations.
PJT vs WH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $531.4M | $334.0M |
| Net Profit | $53.4M | $-60.0M |
| Gross Margin | — | — |
| Operating Margin | 23.1% | — |
| Net Margin | 10.0% | -18.0% |
| Revenue YoY | 12.9% | -76.3% |
| Net Profit YoY | 4.0% | -170.6% |
| EPS (diluted) | — | $-0.80 |
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 | — | $334.0M | ||
| Q4 25 | $531.4M | $334.0M | ||
| Q3 25 | $442.3M | $382.0M | ||
| Q2 25 | $401.1M | $397.0M | ||
| Q1 25 | $321.9M | $316.0M | ||
| Q4 24 | $470.5M | $336.0M | ||
| Q3 24 | $320.3M | $396.0M | ||
| Q2 24 | $358.1M | $367.0M |
| Q1 26 | — | $-60.0M | ||
| Q4 25 | $53.4M | $-60.0M | ||
| Q3 25 | $39.8M | $105.0M | ||
| Q2 25 | $32.9M | $87.0M | ||
| Q1 25 | $54.0M | $61.0M | ||
| Q4 24 | $51.3M | $85.0M | ||
| Q3 24 | $22.1M | $102.0M | ||
| Q2 24 | $28.3M | $86.0M |
| Q1 26 | — | — | ||
| Q4 25 | 23.1% | -11.4% | ||
| Q3 25 | 20.6% | 46.6% | ||
| Q2 25 | 19.1% | 37.8% | ||
| Q1 25 | 16.3% | 35.4% | ||
| Q4 24 | 21.9% | 38.4% | ||
| Q3 24 | 15.4% | 43.2% | ||
| Q2 24 | 18.0% | 39.5% |
| Q1 26 | — | -18.0% | ||
| Q4 25 | 10.0% | -18.0% | ||
| Q3 25 | 9.0% | 27.5% | ||
| Q2 25 | 8.2% | 21.9% | ||
| Q1 25 | 16.8% | 19.3% | ||
| Q4 24 | 10.9% | 25.3% | ||
| Q3 24 | 6.9% | 25.8% | ||
| Q2 24 | 7.9% | 23.4% |
| Q1 26 | — | $-0.80 | ||
| Q4 25 | — | $-0.77 | ||
| Q3 25 | — | $1.36 | ||
| Q2 25 | — | $1.13 | ||
| Q1 25 | — | $0.78 | ||
| Q4 24 | — | $1.06 | ||
| Q3 24 | — | $1.29 | ||
| Q2 24 | — | $1.07 |
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 | $64.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $308.2M | $468.0M |
| Total Assets | $1.8B | $4.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $64.0M | ||
| Q4 25 | $538.9M | $64.0M | ||
| Q3 25 | $400.5M | $70.0M | ||
| Q2 25 | $214.6M | $50.0M | ||
| Q1 25 | $194.3M | $48.0M | ||
| Q4 24 | $483.9M | $103.0M | ||
| Q3 24 | $148.8M | $72.0M | ||
| Q2 24 | $164.2M | $70.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.5B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.4B |
| Q1 26 | — | $468.0M | ||
| Q4 25 | $308.2M | $468.0M | ||
| Q3 25 | $228.6M | $583.0M | ||
| Q2 25 | $167.4M | $570.0M | ||
| Q1 25 | $148.8M | $579.0M | ||
| Q4 24 | $187.0M | $650.0M | ||
| Q3 24 | $159.1M | $583.0M | ||
| Q2 24 | $133.8M | $623.0M |
| Q1 26 | — | $4.2B | ||
| Q4 25 | $1.8B | $4.2B | ||
| Q3 25 | $1.7B | $4.3B | ||
| Q2 25 | $1.5B | $4.3B | ||
| Q1 25 | $1.4B | $4.2B | ||
| Q4 24 | $1.6B | $4.2B | ||
| Q3 24 | $1.6B | $4.2B | ||
| Q2 24 | $1.4B | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.37× | ||
| Q3 25 | — | 4.43× | ||
| Q2 25 | — | 4.44× | ||
| Q1 25 | — | 4.29× | ||
| Q4 24 | — | 3.72× | ||
| Q3 24 | — | 4.19× | ||
| Q2 24 | — | 3.83× |
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 | $367.0M |
| Free Cash FlowOCF − Capex | $138.6M | $168.0M |
| FCF MarginFCF / Revenue | 26.1% | 50.3% |
| Capex IntensityCapex / Revenue | 3.2% | — |
| Cash ConversionOCF / Net Profit | 2.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | $480.4M | $437.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $367.0M | ||
| Q4 25 | $155.7M | $152.0M | ||
| Q3 25 | $256.1M | $86.0M | ||
| Q2 25 | $190.4M | $70.0M | ||
| Q1 25 | $-75.9M | $59.0M | ||
| Q4 24 | $195.7M | $134.0M | ||
| Q3 24 | $180.5M | $79.0M | ||
| Q2 24 | $193.6M | $1.0M |
| Q1 26 | — | $168.0M | ||
| Q4 25 | $138.6M | $136.0M | ||
| Q3 25 | $240.9M | $75.0M | ||
| Q2 25 | $178.9M | $58.0M | ||
| Q1 25 | $-77.9M | $52.0M | ||
| Q4 24 | $195.3M | $109.0M | ||
| Q3 24 | $178.5M | $71.0M | ||
| Q2 24 | $193.0M | $-6.0M |
| Q1 26 | — | 50.3% | ||
| Q4 25 | 26.1% | 40.7% | ||
| Q3 25 | 54.5% | 19.6% | ||
| Q2 25 | 44.6% | 14.6% | ||
| Q1 25 | -24.2% | 16.5% | ||
| Q4 24 | 41.5% | 32.4% | ||
| Q3 24 | 55.7% | 17.9% | ||
| Q2 24 | 53.9% | -1.6% |
| Q1 26 | — | — | ||
| Q4 25 | 3.2% | 4.8% | ||
| Q3 25 | 3.4% | 2.9% | ||
| Q2 25 | 2.9% | 3.0% | ||
| Q1 25 | 0.6% | 2.2% | ||
| Q4 24 | 0.1% | 7.4% | ||
| Q3 24 | 0.6% | 2.0% | ||
| Q2 24 | 0.1% | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | 2.92× | — | ||
| Q3 25 | 6.43× | 0.82× | ||
| Q2 25 | 5.79× | 0.80× | ||
| Q1 25 | -1.41× | 0.97× | ||
| Q4 24 | 3.81× | 1.58× | ||
| Q3 24 | 8.15× | 0.77× | ||
| Q2 24 | 6.84× | 0.01× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PJT
Segment breakdown not available.
WH
| Fee-related and other revenues | $334.0M | 100% |
| Management and other fees | $2.0M | 1% |
