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Side-by-side financial comparison of Perella Weinberg Partners (PWP) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Perella Weinberg Partners is the larger business by last-quarter revenue ($219.2M vs $117.3M, roughly 1.9× Latham Group, Inc.). Perella Weinberg Partners runs the higher net margin — 6.3% vs -7.3%, a 13.6% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (5.3% vs -2.9%). Over the past eight quarters, Perella Weinberg Partners's revenue compounded faster (46.5% CAGR vs -14.4%).
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.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
PWP vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $219.2M | $117.3M |
| Net Profit | $13.8M | $-8.5M |
| Gross Margin | — | 31.7% |
| Operating Margin | 8.5% | — |
| Net Margin | 6.3% | -7.3% |
| Revenue YoY | -2.9% | 5.3% |
| Net Profit YoY | — | -43.1% |
| EPS (diluted) | $0.11 | $-0.07 |
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 | — | $117.3M | ||
| Q4 25 | $219.2M | $100.0M | ||
| Q3 25 | $164.6M | $161.9M | ||
| Q2 25 | $155.3M | $172.6M | ||
| Q1 25 | $211.8M | $111.4M | ||
| Q4 24 | $225.7M | $87.3M | ||
| Q3 24 | $278.2M | $150.5M | ||
| Q2 24 | $272.0M | $160.1M |
| Q1 26 | — | $-8.5M | ||
| Q4 25 | $13.8M | $-7.0M | ||
| Q3 25 | $6.0M | $8.1M | ||
| Q2 25 | $2.7M | $16.0M | ||
| Q1 25 | $17.3M | $-6.0M | ||
| Q4 24 | — | $-29.2M | ||
| Q3 24 | $16.4M | $5.9M | ||
| Q2 24 | $-66.0M | $13.3M |
| Q1 26 | — | 31.7% | ||
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 32.4% | ||
| Q2 24 | — | 33.1% |
| Q1 26 | — | — | ||
| Q4 25 | 8.5% | -10.7% | ||
| Q3 25 | 5.4% | 13.3% | ||
| Q2 25 | 5.8% | 14.3% | ||
| Q1 25 | 5.5% | -4.4% | ||
| Q4 24 | — | -14.9% | ||
| Q3 24 | 12.9% | 8.9% | ||
| Q2 24 | -30.2% | 12.5% |
| Q1 26 | — | -7.3% | ||
| Q4 25 | 6.3% | -7.0% | ||
| Q3 25 | 3.6% | 5.0% | ||
| Q2 25 | 1.8% | 9.3% | ||
| Q1 25 | 8.2% | -5.4% | ||
| Q4 24 | — | -33.4% | ||
| Q3 24 | 5.9% | 3.9% | ||
| Q2 24 | -24.3% | 8.3% |
| Q1 26 | — | $-0.07 | ||
| Q4 25 | $0.11 | $-0.06 | ||
| Q3 25 | $0.08 | $0.07 | ||
| Q2 25 | $0.04 | $0.13 | ||
| Q1 25 | $0.24 | $-0.05 | ||
| Q4 24 | — | $-0.24 | ||
| Q3 24 | $0.24 | $0.05 | ||
| Q2 24 | $-1.21 | $0.11 |
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 | — |
| Total DebtLower is stronger | — | $3.3M |
| Stockholders' EquityBook value | $-127.4M | $396.7M |
| Total Assets | $797.6M | $856.4M |
| Debt / EquityLower = less leverage | — | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $255.9M | — | ||
| Q3 25 | $185.5M | — | ||
| Q2 25 | $145.0M | — | ||
| Q1 25 | $111.2M | — | ||
| Q4 24 | $407.4M | — | ||
| Q3 24 | $335.1M | — | ||
| Q2 24 | $185.3M | — |
| Q1 26 | — | $3.3M | ||
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M |
| Q1 26 | — | $396.7M | ||
| Q4 25 | $-127.4M | $405.9M | ||
| Q3 25 | $-302.4M | $408.4M | ||
| Q2 25 | $-318.4M | $398.4M | ||
| Q1 25 | $-323.1M | $381.1M | ||
| Q4 24 | $-421.4M | $387.2M | ||
| Q3 24 | $-360.8M | $416.6M | ||
| Q2 24 | $-283.0M | $408.1M |
| Q1 26 | — | $856.4M | ||
| Q4 25 | $797.6M | $823.2M | ||
| Q3 25 | $650.2M | $844.4M | ||
| Q2 25 | $606.7M | $822.1M | ||
| Q1 25 | $570.5M | $824.6M | ||
| Q4 24 | $876.8M | $794.2M | ||
| Q3 24 | $810.9M | $853.4M | ||
| Q2 24 | $645.5M | $830.0M |
| Q1 26 | — | 0.01× | ||
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× |
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 | $-47.7M |
| Free Cash FlowOCF − Capex | $30.5M | — |
| FCF MarginFCF / Revenue | 13.9% | — |
| Capex IntensityCapex / Revenue | 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 | — | $-47.7M | ||
| Q4 25 | $34.8M | $23.3M | ||
| Q3 25 | $59.2M | $51.0M | ||
| Q2 25 | $56.1M | $36.0M | ||
| Q1 25 | $-176.5M | $-46.9M | ||
| Q4 24 | $223.4M | $6.2M | ||
| Q3 24 | $200.3M | $37.2M | ||
| Q2 24 | $90.0M | $52.4M |
| Q1 26 | — | — | ||
| Q4 25 | $30.5M | $14.1M | ||
| Q3 25 | $57.6M | $45.2M | ||
| Q2 25 | $55.3M | $29.1M | ||
| Q1 25 | $-177.6M | $-50.3M | ||
| Q4 24 | $207.0M | $-98.0K | ||
| Q3 24 | $199.3M | $33.2M | ||
| Q2 24 | $83.7M | $47.9M |
| Q1 26 | — | — | ||
| Q4 25 | 13.9% | 14.1% | ||
| Q3 25 | 35.0% | 27.9% | ||
| Q2 25 | 35.6% | 16.8% | ||
| Q1 25 | -83.8% | -45.2% | ||
| Q4 24 | 91.7% | -0.1% | ||
| Q3 24 | 71.6% | 22.1% | ||
| Q2 24 | 30.8% | 29.9% |
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 9.2% | ||
| Q3 25 | 0.9% | 3.6% | ||
| Q2 25 | 0.5% | 4.0% | ||
| Q1 25 | 0.5% | 3.1% | ||
| Q4 24 | 7.3% | 7.2% | ||
| Q3 24 | 0.4% | 2.7% | ||
| Q2 24 | 2.3% | 2.8% |
| Q1 26 | — | — | ||
| Q4 25 | 2.52× | — | ||
| Q3 25 | 9.85× | 6.29× | ||
| Q2 25 | 20.50× | 2.25× | ||
| Q1 25 | -10.18× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 12.23× | 6.32× | ||
| Q2 24 | — | 3.95× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
