PJT Partners (PJT) FY2019 results: revenue $718 million, up 23.7% on the year
PJT Partners Inc. (PJT) reported revenue of $718 million for fiscal 2019, the year ended 31 December 2019, up 23.7% on the year before. Net income was $30 million, up 8.8%, and diluted earnings per share $1.21. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2020.
Revenue
$718 million
+23.7% on the year
FY2013FY2019
Operating margin
11.5%
7.2% a year earlier
FY2013FY2019
Net income
$30 million
+8.8% on the year
FY2013FY2019
Diluted EPS
$1.21
+4.3% on the year
FY2013FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
718
580
499
+23.7%
Operating income
82.2
41.5
10.1
+98.0%
Operating margin
11.5%
7.2%
2.0%
Pre-tax income
82.2
41.5
10.1
+98.0%
Income tax
18.4
-1.0
38.4
Effective tax rate
22.4%
-2.5%
381.7%
Net income
29.6
27.2
-32.6
+8.8%
Net margin
4.1%
4.7%
-6.5%
Diluted EPS
$1.21
$1.16
-$1.73
+4.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
211
123
111
+72.0%
Capital expenditure
8.8
7.2
1.1
+22.3%
Free cash flow
203
116
110
+75.1%
Free cash flow margin
28.2%
19.9%
22.1%
Cash from investing
-1.7
-31.5
-38.2
Cash from financing
-101
-131
-79.6
Depreciation and amortisation
14.5
10.0
8.1
+45.4%
Share-based compensation
112
118
116
-5.4%
Buybacks
47.8
64.9
2.3
-26.3%
Dividends paid
4.6
4.3
3.8
+7.5%
Diluted shares, weighted
n/a
n/a
19m
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
31.4
-26.5
-157
Non-controlling interest
543
514
580
+5.6%
Debt
21.5
30.0
0.0
-28.3%
Other liabilities
357
154
137
+131.6%
Total liabilities and equity
953
672
559
+41.8%
Fixed assets
37.1
34.8
33.8
+6.7%
Goodwill
173
176
72.3
-1.9%
Intangible assets
39.8
49.2
12.3
-19.0%
Cash and equivalents
216
106
146
+103.5%
Other assets
487
306
295
+59.4%
Total assets
953
672
559
+41.8%
10-K for the year ended 31 December 2019, filed 27 February 2020: the filing.