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Side-by-side financial comparison of Perella Weinberg Partners (PWP) and XBP Global Holdings, Inc. (XBP). Click either name above to swap in a different company.
Perella Weinberg Partners is the larger business by last-quarter revenue ($219.2M vs $152.4M, roughly 1.4× XBP Global Holdings, Inc.). Perella Weinberg Partners runs the higher net margin — 6.3% vs -200.7%, a 207.0% gap on every dollar of revenue. On growth, Perella Weinberg Partners posted the faster year-over-year revenue change (-2.9% vs -34.7%). Perella Weinberg Partners produced more free cash flow last quarter ($30.5M vs $10.5M).
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.
PWP vs XBP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $219.2M | $152.4M |
| Net Profit | $13.8M | $-305.8M |
| Gross Margin | — | 21.7% |
| Operating Margin | 8.5% | -191.7% |
| Net Margin | 6.3% | -200.7% |
| Revenue YoY | -2.9% | -34.7% |
| Net Profit YoY | — | -980.1% |
| EPS (diluted) | $0.11 | $-2.60 |
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 | — | ||
| Q3 25 | $164.6M | $152.4M | ||
| Q2 25 | $155.3M | — | ||
| Q1 25 | $211.8M | — | ||
| Q4 24 | $225.7M | — | ||
| Q3 24 | $278.2M | $233.4M | ||
| Q2 24 | $272.0M | — | ||
| Q1 24 | $102.1M | — |
| Q4 25 | $13.8M | — | ||
| Q3 25 | $6.0M | $-305.8M | ||
| Q2 25 | $2.7M | — | ||
| Q1 25 | $17.3M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $16.4M | $-28.3M | ||
| Q2 24 | $-66.0M | — | ||
| Q1 24 | $-35.8M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 21.7% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 18.9% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 8.5% | — | ||
| Q3 25 | 5.4% | -191.7% | ||
| Q2 25 | 5.8% | — | ||
| Q1 25 | 5.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 12.9% | 0.9% | ||
| Q2 24 | -30.2% | — | ||
| Q1 24 | -52.4% | — |
| Q4 25 | 6.3% | — | ||
| Q3 25 | 3.6% | -200.7% | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 8.2% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 5.9% | -12.1% | ||
| Q2 24 | -24.3% | — | ||
| Q1 24 | -35.1% | — |
| Q4 25 | $0.11 | — | ||
| Q3 25 | $0.08 | $-2.60 | ||
| Q2 25 | $0.04 | — | ||
| Q1 25 | $0.24 | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $0.24 | $-0.09 | ||
| Q2 24 | $-1.21 | — | ||
| Q1 24 | $-0.91 | — |
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 | $34.5M |
| Total DebtLower is stronger | — | $381.5M |
| Stockholders' EquityBook value | $-127.4M | $130.5M |
| Total Assets | $797.6M | $947.9M |
| Debt / EquityLower = less leverage | — | 2.92× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $255.9M | — | ||
| Q3 25 | $185.5M | $34.5M | ||
| Q2 25 | $145.0M | — | ||
| Q1 25 | $111.2M | — | ||
| Q4 24 | $407.4M | — | ||
| Q3 24 | $335.1M | $7.8M | ||
| Q2 24 | $185.3M | — | ||
| Q1 24 | $156.7M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $381.5M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $31.5M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-127.4M | — | ||
| Q3 25 | $-302.4M | $130.5M | ||
| Q2 25 | $-318.4M | — | ||
| Q1 25 | $-323.1M | — | ||
| Q4 24 | $-421.4M | — | ||
| Q3 24 | $-360.8M | $-1.3B | ||
| Q2 24 | $-283.0M | — | ||
| Q1 24 | $161.9M | — |
| Q4 25 | $797.6M | — | ||
| Q3 25 | $650.2M | $947.9M | ||
| Q2 25 | $606.7M | — | ||
| Q1 25 | $570.5M | — | ||
| Q4 24 | $876.8M | — | ||
| Q3 24 | $810.9M | $99.6M | ||
| Q2 24 | $645.5M | — | ||
| Q1 24 | $583.6M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.92× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $13.9M |
| Free Cash FlowOCF − Capex | $30.5M | $10.5M |
| FCF MarginFCF / Revenue | 13.9% | 6.9% |
| Capex IntensityCapex / Revenue | 2.0% | 2.2% |
| Cash ConversionOCF / Net Profit | 2.52× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-34.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $34.8M | — | ||
| Q3 25 | $59.2M | $13.9M | ||
| Q2 25 | $56.1M | — | ||
| Q1 25 | $-176.5M | — | ||
| Q4 24 | $223.4M | — | ||
| Q3 24 | $200.3M | $-1.5M | ||
| Q2 24 | $90.0M | — | ||
| Q1 24 | $-206.3M | — |
| Q4 25 | $30.5M | — | ||
| Q3 25 | $57.6M | $10.5M | ||
| Q2 25 | $55.3M | — | ||
| Q1 25 | $-177.6M | — | ||
| Q4 24 | $207.0M | — | ||
| Q3 24 | $199.3M | $-6.1M | ||
| Q2 24 | $83.7M | — | ||
| Q1 24 | $-214.8M | — |
| Q4 25 | 13.9% | — | ||
| Q3 25 | 35.0% | 6.9% | ||
| Q2 25 | 35.6% | — | ||
| Q1 25 | -83.8% | — | ||
| Q4 24 | 91.7% | — | ||
| Q3 24 | 71.6% | -2.6% | ||
| Q2 24 | 30.8% | — | ||
| Q1 24 | -210.3% | — |
| Q4 25 | 2.0% | — | ||
| Q3 25 | 0.9% | 2.2% | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | 7.3% | — | ||
| Q3 24 | 0.4% | 2.0% | ||
| Q2 24 | 2.3% | — | ||
| Q1 24 | 8.3% | — |
| Q4 25 | 2.52× | — | ||
| Q3 25 | 9.85× | — | ||
| Q2 25 | 20.50× | — | ||
| Q1 25 | -10.18× | — | ||
| Q4 24 | — | — | ||
| 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.
XBP
| Related And Non Related Party | $136.5M | 90% |
| Technology | $8.2M | 5% |
| Other | $5.7M | 4% |
| Deferred Revenue As Of July312025 | $1.9M | 1% |
