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Side-by-side financial comparison of Perella Weinberg Partners (PWP) and ONE Group Hospitality, Inc. (STKS). Click either name above to swap in a different company.
Perella Weinberg Partners is the larger business by last-quarter revenue ($219.2M vs $207.0M, roughly 1.1× ONE Group Hospitality, Inc.). Perella Weinberg Partners runs the higher net margin — 6.3% vs -3.1%, a 9.4% gap on every dollar of revenue. On growth, Perella Weinberg Partners posted the faster year-over-year revenue change (-2.9% vs -6.7%). Perella Weinberg Partners produced more free cash flow last quarter ($30.5M vs $-329.0K). Over the past eight quarters, ONE Group Hospitality, Inc.'s revenue compounded faster (56.1% CAGR vs 46.5%).
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.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
PWP vs STKS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $219.2M | $207.0M |
| Net Profit | $13.8M | $-6.4M |
| Gross Margin | — | — |
| Operating Margin | 8.5% | 2.2% |
| Net Margin | 6.3% | -3.1% |
| Revenue YoY | -2.9% | -6.7% |
| Net Profit YoY | — | -531.8% |
| EPS (diluted) | $0.11 | $-0.50 |
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 | $219.2M | $207.0M | ||
| Q3 25 | $164.6M | $180.2M | ||
| Q2 25 | $155.3M | $207.4M | ||
| Q1 25 | $211.8M | $211.1M | ||
| Q4 24 | $225.7M | $221.9M | ||
| Q3 24 | $278.2M | $194.0M | ||
| Q2 24 | $272.0M | $172.5M | ||
| Q1 24 | $102.1M | $85.0M |
| Q4 25 | $13.8M | $-6.4M | ||
| Q3 25 | $6.0M | $-76.7M | ||
| Q2 25 | $2.7M | $-10.1M | ||
| Q1 25 | $17.3M | $975.0K | ||
| Q4 24 | — | $1.5M | ||
| Q3 24 | $16.4M | $-9.3M | ||
| Q2 24 | $-66.0M | $-7.3M | ||
| Q1 24 | $-35.8M | $-2.1M |
| Q4 25 | 8.5% | 2.2% | ||
| Q3 25 | 5.4% | -4.4% | ||
| Q2 25 | 5.8% | 0.3% | ||
| Q1 25 | 5.5% | 5.1% | ||
| Q4 24 | — | 5.5% | ||
| Q3 24 | 12.9% | -1.9% | ||
| Q2 24 | -30.2% | 0.6% | ||
| Q1 24 | -52.4% | -0.7% |
| Q4 25 | 6.3% | -3.1% | ||
| Q3 25 | 3.6% | -42.6% | ||
| Q2 25 | 1.8% | -4.9% | ||
| Q1 25 | 8.2% | 0.5% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | 5.9% | -4.8% | ||
| Q2 24 | -24.3% | -4.3% | ||
| Q1 24 | -35.1% | -2.4% |
| Q4 25 | $0.11 | $-0.50 | ||
| Q3 25 | $0.08 | $-2.75 | ||
| Q2 25 | $0.04 | $-0.59 | ||
| Q1 25 | $0.24 | $-0.21 | ||
| Q4 24 | — | $-0.18 | ||
| Q3 24 | $0.24 | $-0.53 | ||
| Q2 24 | $-1.21 | $-0.38 | ||
| Q1 24 | $-0.91 | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $255.9M | $4.2M |
| Total DebtLower is stronger | — | $354.2M |
| Stockholders' EquityBook value | $-127.4M | $-75.8M |
| Total Assets | $797.6M | $884.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $255.9M | $4.2M | ||
| Q3 25 | $185.5M | $5.5M | ||
| Q2 25 | $145.0M | $4.7M | ||
| Q1 25 | $111.2M | $21.4M | ||
| Q4 24 | $407.4M | $27.6M | ||
| Q3 24 | $335.1M | $28.2M | ||
| Q2 24 | $185.3M | $32.2M | ||
| Q1 24 | $156.7M | $15.4M |
| Q4 25 | — | $354.2M | ||
| Q3 25 | — | $355.0M | ||
| Q2 25 | — | $347.4M | ||
| Q1 25 | — | $348.3M | ||
| Q4 24 | — | $348.3M | ||
| Q3 24 | — | $349.1M | ||
| Q2 24 | — | $350.0M | ||
| Q1 24 | — | $73.5M |
| Q4 25 | $-127.4M | $-75.8M | ||
| Q3 25 | $-302.4M | $-61.5M | ||
| Q2 25 | $-318.4M | $23.0M | ||
| Q1 25 | $-323.1M | $40.5M | ||
| Q4 24 | $-421.4M | $45.9M | ||
| Q3 24 | $-360.8M | $51.4M | ||
| Q2 24 | $-283.0M | $68.1M | ||
| Q1 24 | $161.9M | $68.3M |
| Q4 25 | $797.6M | $884.2M | ||
| Q3 25 | $650.2M | $879.5M | ||
| Q2 25 | $606.7M | $935.7M | ||
| Q1 25 | $570.5M | $956.0M | ||
| Q4 24 | $876.8M | $960.1M | ||
| Q3 24 | $810.9M | $953.5M | ||
| Q2 24 | $645.5M | $945.9M | ||
| Q1 24 | $583.6M | $309.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 15.07× | ||
| Q1 25 | — | 8.61× | ||
| Q4 24 | — | 7.59× | ||
| Q3 24 | — | 6.79× | ||
| Q2 24 | — | 5.14× | ||
| Q1 24 | — | 1.08× |
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 | $13.1M |
| Free Cash FlowOCF − Capex | $30.5M | $-329.0K |
| FCF MarginFCF / Revenue | 13.9% | -0.2% |
| Capex IntensityCapex / Revenue | 2.0% | 6.5% |
| Cash ConversionOCF / Net Profit | 2.52× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-34.1M | $-27.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $34.8M | $13.1M | ||
| Q3 25 | $59.2M | $5.9M | ||
| Q2 25 | $56.1M | $2.8M | ||
| Q1 25 | $-176.5M | $8.5M | ||
| Q4 24 | $223.4M | $18.5M | ||
| Q3 24 | $200.3M | $19.1M | ||
| Q2 24 | $90.0M | $-3.8M | ||
| Q1 24 | $-206.3M | $10.4M |
| Q4 25 | $30.5M | $-329.0K | ||
| Q3 25 | $57.6M | $-6.1M | ||
| Q2 25 | $55.3M | $-15.0M | ||
| Q1 25 | $-177.6M | $-5.8M | ||
| Q4 24 | $207.0M | $733.0K | ||
| Q3 24 | $199.3M | $287.0K | ||
| Q2 24 | $83.7M | $-23.0M | ||
| Q1 24 | $-214.8M | $-5.4M |
| Q4 25 | 13.9% | -0.2% | ||
| Q3 25 | 35.0% | -3.4% | ||
| Q2 25 | 35.6% | -7.2% | ||
| Q1 25 | -83.8% | -2.7% | ||
| Q4 24 | 91.7% | 0.3% | ||
| Q3 24 | 71.6% | 0.1% | ||
| Q2 24 | 30.8% | -13.3% | ||
| Q1 24 | -210.3% | -6.4% |
| Q4 25 | 2.0% | 6.5% | ||
| Q3 25 | 0.9% | 6.7% | ||
| Q2 25 | 0.5% | 8.6% | ||
| Q1 25 | 0.5% | 6.8% | ||
| Q4 24 | 7.3% | 8.0% | ||
| Q3 24 | 0.4% | 9.7% | ||
| Q2 24 | 2.3% | 11.1% | ||
| Q1 24 | 8.3% | 18.6% |
| Q4 25 | 2.52× | — | ||
| Q3 25 | 9.85× | — | ||
| Q2 25 | 20.50× | — | ||
| Q1 25 | -10.18× | 8.76× | ||
| Q4 24 | — | 12.54× | ||
| Q3 24 | 12.23× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PWP
Segment breakdown not available.
STKS
| Benihanas | $111.3M | 54% |
| Steakhouse Restaurant | $59.2M | 29% |
| Grill Concepts | $32.3M | 16% |
| Other | $4.2M | 2% |
