Perella Weinberg Partners logo PWP - Perella Weinberg Partners

Price: -- -- | CONSENSUS: Buy DETAILS
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BUY 3
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| PRICE TARGET: $20.25 DETAILS
HIGH: $21.00
LOW: $19.50
MEDIAN: $20.25
CONSENSUS: $20.25
UPSIDE: 8.40%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1
Revenue
Revenue 148.9 219.2 164.6 155.3 211.8 225.7 278.2 272.0 102.1 212.7 139.0 165.5 131.4 183.1 145.4 151.1 151.9 198.9 177.4 255.5 169.8 189.1 122.8 118.6 88.4
Cost of Revenue 5.8 (271.2) 88.7 80.3 123.0 133.3 174.1 150.0 68.6 165.5 84.9 106.2 70.0 127.2 86.3 90.6 87.2 117.2 113.3 164.4 109.5 144.8 84.8 144.8 0
Gross Profit 143.1 490.4 75.9 75.0 88.8 92.4 104.2 122.0 33.5 47.2 54.1 59.3 61.5 55.9 59.1 60.5 64.6 81.7 64.1 91.1 60.3 44.4 38.1 (26.2) 88.4
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.4) 0.4
SG&A Expenses 12.1 11.6 47 46.4 57.2 50.9 49.8 185.3 68.7 72.6 65.0 63.4 68.0 61.0 55.2 55.7 62.2 69.3 62.0 29.6 20.8 24.5 25.3 (26.9) 87.8
Other Expenses 143.8 460.3 20.0 19.6 19.9 20.1 18.5 18.9 18.4 18.5 15.9 17.7 16.1 14.5 12.7 13.8 12.8 13.1 12.5 12.1 11.5 11.7 11.2 21.8 3.8
Operating Expenses 156.0 471.8 67.0 66.0 77.2 71.0 68.3 204.3 87.1 91.1 80.8 81.1 84.2 75.5 67.9 69.5 75.0 82.4 74.4 41.6 32.3 36.2 36.5 (5.5) 92.0
Operating Income
Operating Income (12.9) 18.5 8.9 8.9 11.7 21.4 35.9 (82.2) (53.6) (44.0) (26.7) (21.8) (22.7) (19.5) (8.8) (9.0) (10.4) (0.6) (10.3) 49.5 28.0 8.2 1.5 (20.7) (3.6)
Interest Expense 0 0 0 0 0 0 0 0 0 0 0 0 0 0.1 0.1 0.1 0.1 0.1 0.1 3.6 3.9 3.9 3.9 8.0 0
Interest Income 0 0 0 0 0 0 0 0 0 0 0 1.4 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA (7.1) 27.5 13.9 14 16.7 26.4 41.0 (77.1) (48.5) (36.9) (23.0) (18.1) (19.9) (20.3) (6.4) (6.4) (7.4) 1.7 (5.8) 16.8 32.3 11.6 7.7 (8.9) 0
EBIT (12.9) 21.8 8.9 8.9 11.7 21.4 35.9 (82.2) (53.6) (41.4) (26.7) (21.8) (22.7) (22.9) (8.8) (9.0) (10.4) (1.7) (9.2) 13.1 28.4 7.7 3.8 (16.7) 0
Income Before Tax (10.6) 21.8 11.6 6.2 11.9 27.8 36.4 (81.5) (50.9) (43.9) (23.9) (22.8) (22.1) (23.0) (8.3) 5.8 4.0 (1.8) (9.3) 9.5 24.5 3.9 (0.1) (21.3) (3.4)
Income Tax Expense (9.9) 8.0 3.0 2.0 (9.5) (4.9) 7.5 (0.6) 19.1 (1.5) (0.2) (4.5) 5.3 (0.4) 4.6 3.1 3.0 16.2 0.1 0.5 2.0 0.9 1.0 0.8 0.7
Net Income 1.5 9.4 6.0 2.7 17.3 20.8 16.4 (66.0) (35.8) (10.4) (2.0) 0.4 (5.1) (1.4) 1.1 9.3 8.9 (0.4) 3.5 (12.5) 22.5 2.9 (1.1) (22.1) (4.1)
Per Share Data
EPS (Basic) 0.02 0.14 0.09 0.04 0.28 0.36 0.29 -1.21 -0.73 -0.23 -0.05 0.01 -0.12 -0.03 0.03 0.21 0.19 -0.01 0.08 -0.29 0.52 0.03 -0.01 -0.28
EPS (Diluted) 0.02 0.14 0.08 0.04 0.24 0.28 0.24 -1.21 -0.91 -0.49 -0.27 -0.19 -0.37 -0.27 -0.19 0.10 0.10 -0.00 0.04 -0.29 0.24 0.03 -0.01 -0.28
Shares Outstanding 70.4 67.5 64.1 63.1 62.1 58.0 55.5 54.6 49.2 44.9 43.1 42.7 42.3 42.6 42.3 44.6 45.9 42.6 42.6 43.0 43.0 46.4 50.5 50.5 50.5
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3
Current Assets
Cash & Cash Equivalents 77.7 255.9 185.5 145.0 111.2 331.6 260.2 185.3 156.7 247.2 129.2 132.4 107.6 174.2 145.5 153.0 225.1 504.8 417.7 351.5 0.8 1.2 1.6
Short-Term Investments 0 0 0 0 0 75.8 74.9 0 0 91.2 70.0 50.0 25.0 140.1 138.9 0 0 0 0 0 0 0 0
Net Receivables 34.1 62.7 41.4 48.4 47.2 74.4 91.1 94.1 61.4 51.3 72.4 54.5 48.8 71.3 50.3 42.5 78.4 51.1 66.1 86.3 0 0 0
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets (0.6) 0 1.1 1.2 1.3 1.2 1.3 1.2 2.9 2.9 39.5 33.8 36.9 0 26.4 24.4 27.1 0 37.6 21.3 0 0 0
Total Current Assets 111.1 318.6 228.0 194.6 159.7 483.0 427.5 280.6 221.1 392.6 311.1 270.7 218.2 385.5 361.0 219.9 330.7 555.9 521.4 459.2 1.1 1.4 1.7
Non-Current Assets
Property, Plant & Equipment 210.0 215.7 216.0 217.4 220.2 224.5 232.3 230.3 234.3 237.6 226.5 218.6 212.0 202.1 176.3 112.4 47.4 50.3 55.5 63.3 0 0 0
Goodwill 72.7 72.7 34.4 34.4 34.4 34.4 34.4 34.4 34.4 34.4 34.4 34.4 34.4 34.4 34.4 34.4 34.4 34.4 34.4 34.4 0 0 0
Intangible Assets 10.3 12.5 7.7 9.3 11.0 12.6 14.3 15.9 17.5 19.2 20.8 22.5 24.1 25.8 27.4 29.1 30.7 32.4 34.0 35.6 0 0 0
Long-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 114.8 0 0 0 0 230.0 230.0 230.0
Other Non-Current Assets 0 0 36.1 35.5 41.6 29.2 36.2 32.2 27.8 30.9 0 0 0 36.2 0 0 0 24.3 0 0 0 0 0
Total Non-Current Assets 432.8 430.5 422.2 412.2 410.7 393.7 383.4 364.9 362.5 368.5 323.0 311.4 306.3 331.5 270.6 320.2 140.0 162.4 142.3 151.3 230.0 230.0 230.0
Total Assets 595.8 797.6 650.2 606.7 570.5 876.8 810.9 645.5 583.6 761.1 634.2 582.1 524.5 717.1 631.6 540.2 470.6 718.3 663.7 610.5 231.1 231.4 231.7
Current Liabilities
Account Payables 41.5 35.8 47.2 63.4 73.2 68.9 84.7 67.2 57.8 52.1 44.8 34.8 41.7 46.3 34.4 33.8 42.8 31.0 0 0 0 0 0
Short-Term Debt 12.7 18.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Revenue 0.7 1 0 0 0 0 0 0 0 0 1.4 2.2 3.0 5.0 3.9 4.6 5.8 7.8 5.9 4.0 0 0 0
Other Current Liabilities 0 10.3 (131.6) 0 0 0 0 6.8 37.3 0 0 0 0 0 0 0 0 0 29.8 25.7 1.3 0.8 0.0
Total Current Liabilities 104.2 275.8 47.2 63.4 73.2 68.9 84.7 74.0 95.1 52.1 165.3 127.4 81.6 265.4 168.4 136.8 103.8 350.4 300.9 242.1 1.3 0.8 0.0
Non-Current Liabilities
Long-Term Debt 0 167.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 94.0 (74.1) 217.7 182.3 150.0 390.7 296.1 166.6 68.5 264.9 28.8 25.1 25.1 25.9 29.3 32.4 41.0 53.1 52.9 53.2 21.4 27.2 9.8
Total Non-Current Liabilities 263.4 261.1 402.6 367.3 335.6 578.1 484.5 348.1 244.8 440.8 204.1 196.4 193.9 191.5 189.0 134.6 81.2 96.6 100.8 107.6 21.4 27.2 9.8
Total Liabilities 367.5 536.9 449.7 430.6 408.8 647.0 569.2 422.1 304.6 492.9 369.4 323.8 275.5 457.0 357.4 271.4 185.1 447.0 401.7 349.7 22.7 28.0 9.8
Stockholders' Equity
Common Stock 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 203.4 198.5 216.8
Retained Earnings (135.6) (130.6) (161.9) (179.4) (197.6) (303.7) (246.4) (167.9) (96.0) (54.6) (39.5) (32.6) (28.1) (18.1) (12.2) (8.8) (13.4) (18.1) (13.3) (12.5) (0.2) (5.1) (0.0)
Accumulated Other Comprehensive Income (3.8) (2.5) (2.1) (0.7) (4.3) (6.2) (2.9) (5.2) (5.1) (4.5) (6.2) (4.8) (5.8) (6.5) (8.3) (5.3) (2.8) (1.7) (1.8) (0.8) 0 0 0
Total Stockholders' Equity (154.7) (127.4) (302.4) (318.4) (323.1) (421.4) (360.8) (283.0) 161.9 152.7 144.3 140.8 133.3 137.5 140.0 132.4 150.0 126.3 125.2 122.0 208.4 203.5 221.8
Total Liabilities & Equity 595.8 797.6 650.2 606.7 570.5 876.8 810.9 645.5 583.6 761.1 634.2 582.1 524.5 717.1 631.6 540.2 470.6 718.3 663.7 610.5 231.1 231.4 231.7
Debt Metrics
Total Debt 182.1 353.7 184.8 185.0 185.5 187.3 188.4 181.5 176.3 175.9 175.3 171.3 168.8 165.6 159.6 102.2 40.2 43.4 47.9 54.4 0 0 0
Net Debt 104.4 97.8 (0.7) 40.0 74.3 (144.2) (71.8) (3.8) 19.6 (71.3) 46.1 38.9 61.2 (8.6) 14.1 (50.9) (184.9) (461.3) (369.8) (297.1) (0.8) (1.2) (1.6)
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4
Operating Activities
Net Income 1.5 13.8 8.6 4.3 21.4 32.7 28.8 (80.8) (70) (42.4) (2.0) (18.3) (27.4) (22.6) (12.9) 2.7 1.1 (0.4) (9.5) 9 4.9 2.9
Depreciation & Amortization 5.8 5.8 5.0 5.1 5.0 5.1 5.1 5.1 5.1 4.5 3.7 3.6 2.8 2.6 2.5 2.7 2.9 7.7 3.5 3.7 (0.4) 3.9
Stock-Based Compensation (160.5) 77.6 27.8 28.2 26.4 22.9 28.6 90.1 47.3 50.2 43.4 42.6 48.3 40.5 37.6 37.0 41.4 0 38.2 7.1 51.7 6.3
Change in Working Capital (140.1) 37.0 15.1 11.1 (223.9) 81.0 128.6 72.9 (193.8) 142.9 8.6 48.2 (160.1) 51.6 18.5 66.9 (285.4) 73.9 58.4 86.3 (159.7) 119.5
Other Non-Cash Items 192.8 (48.3) 1.2 6.6 4.6 1.9 6.5 6.2 2.7 4.4 (15.8) 5.6 4.0 10.2 1.0 (5.4) (7.8) 31.7 7.5 44.2 (19.2) 4.9
Operating Cash Flow (109.7) 96.0 59.2 56.1 (176.5) 139.4 200.3 90.0 (206.3) 158.4 37.9 81.6 (131.9) 80.9 46.5 103.1 (248.4) 109.2 98.2 149.1 (121.6) 137.5
Investing Activities
Capital Expenditure (2.1) (1.0) (1.5) (0.8) (1.0) (0.7) (1.0) (6.3) (8.5) (12.1) (10.7) (16.5) (18.3) (18.3) (4.3) (2.6) (1.4) (0.8) (0.2) (0.0) (0.4) (0.6)
Acquisitions 0 (18.9) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments 0 0 0 0 0 0 (74.9) 0 0 (20.0) 0 (24.8) (25.0) 0.0 (24.2) (115.0) 0 0 0 0 0 0
Sales/Maturities of Investments 0 0 0 0 74.9 0 0 0 91.2 0 0 0 140.6 0 0 0 0 0 0 0 0 0
Other Investing Activities 0 0 0 0 0 0 0 0 0 0 (19.5) 0 0.5 (0.5) 0 0 0 0 0 0 (1.0) 0
Investing Cash Flow (2.1) (19.8) (1.5) (0.8) 73.9 (0.7) (75.9) (6.3) 82.7 (32.1) (30.2) (41.2) 97.7 (18.8) (28.4) (117.6) (1.4) (0.8) (0.2) (0.0) (1.4) (0.6)
Financing Activities
Net Debt Issuance 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1.4 0 0 0 0
Stock Repurchased 0 0 (1.9) (17.3) (42.7) (43.9) (0.1) (34.4) 0 0 (3.9) (7.7) (14.8) (14.9) (8.8) (43.5) (37.7) 0 (20.0) 0 0 0
Dividends Paid (8.6) (4.6) (9.8) (4.4) (8.3) (10.1) (14.6) (6.2) (7.6) (6.0) 5.2 (8.7) (6.6) (18.7) (13.4) (6.0) (19.2) (3.0) 44.4 (37.6) (9.8) (0.2)
Other Financing Activities (55.2) (1.3) (6.3) (2.2) (69.7) (8.9) (36.7) (16.2) (24.6) (1.0) (11.2) (0.5) (11.8) (0.6) (3.2) (0.4) (6.9) (19.1) (52.6) 40.9 0.4 0
Financing Cash Flow (63.8) (5.9) (17.9) (23.9) (120.8) (62.9) (51.4) (56.8) 33.8 (7.0) (9.9) (16.9) (33.2) (34.1) (25.4) (49.9) (27.3) (20.7) (28.2) 3.4 (9.5) (0.2)
Cash Position
Net Change in Cash (178.3) 70.4 40.5 33.7 (220.3) 71.3 75.0 26.9 (90.5) 120.9 (3.2) 24.8 (66.6) 28.7 (7.5) (72.1) (279.6) 87.1 66.2 152.5 (131.9) 142.8
Cash at Beginning 257.1 186.7 146.2 112.5 332.8 261.5 186.5 159.6 250.1 129.2 132.4 107.6 174.2 145.5 153.0 225.1 504.8 417.7 351.5 199.0 330.9 188.1
Cash at End 78.8 257.1 186.7 146.2 112.5 332.8 261.5 186.5 159.6 250.1 129.2 132.4 107.6 174.2 145.5 153.0 225.1 504.8 417.7 351.5 199.0 330.9
Free Cash Flow (111.8) 95.1 57.6 55.3 (177.6) 138.8 199.3 83.7 (214.8) 146.3 27.2 65.1 (150.3) 62.6 42.3 100.6 (249.8) 108.5 98.0 149.0 (122.0) 137.0
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1
Income Statement
Revenue 148.9 219.2 164.6 155.3 211.8 225.7 278.2 272.0 102.1 212.7 139.0 165.5 131.4 183.1 145.4 151.1 151.9 198.9 177.4 255.5 169.8 189.1 122.8 118.6 88.4
Gross Profit 143.1 490.4 75.9 75.0 88.8 92.4 104.2 122.0 33.5 47.2 54.1 59.3 61.5 55.9 59.1 60.5 64.6 81.7 64.1 91.1 60.3 44.4 38.1 (26.2) 88.4
Operating Income (12.9) 18.5 8.9 8.9 11.7 21.4 35.9 (82.2) (53.6) (44.0) (26.7) (21.8) (22.7) (19.5) (8.8) (9.0) (10.4) (0.6) (10.3) 49.5 28.0 8.2 1.5 (20.7) (3.6)
Net Income 1.5 9.4 6.0 2.7 17.3 20.8 16.4 (66.0) (35.8) (10.4) (2.0) 0.4 (5.1) (1.4) 1.1 9.3 8.9 (0.4) 3.5 (12.5) 22.5 2.9 (1.1) (22.1) (4.1)
EPS (Diluted) 0.02 0.14 0.08 0.04 0.24 0.28 0.24 -1.21 -0.91 -0.49 -0.27 -0.19 -0.37 -0.27 -0.19 0.10 0.10 -0.00 0.04 -0.29 0.24 0.03 -0.01 -0.28
Balance Sheet
Cash & Equivalents 77.7 255.9 185.5 145.0 111.2 331.6 260.2 185.3 156.7 247.2 129.2 132.4 107.6 174.2 145.5 153.0 225.1 504.8 417.7 351.5 0.8 1.2 1.6
Total Assets 595.8 797.6 650.2 606.7 570.5 876.8 810.9 645.5 583.6 761.1 634.2 582.1 524.5 717.1 631.6 540.2 470.6 718.3 663.7 610.5 231.1 231.4 231.7
Total Debt 182.1 353.7 184.8 185.0 185.5 187.3 188.4 181.5 176.3 175.9 175.3 171.3 168.8 165.6 159.6 102.2 40.2 43.4 47.9 54.4 0 0 0
Stockholders' Equity (154.7) (127.4) (302.4) (318.4) (323.1) (421.4) (360.8) (283.0) 161.9 152.7 144.3 140.8 133.3 137.5 140.0 132.4 150.0 126.3 125.2 122.0 208.4 203.5 221.8
Cash Flow
Operating Cash Flow (109.7) 96.0 59.2 56.1 (176.5) 139.4 200.3 90.0 (206.3) 158.4 37.9 81.6 (131.9) 80.9 46.5 103.1 (248.4) 109.2 98.2 149.1 (121.6) 137.5
Capital Expenditure (2.1) (1.0) (1.5) (0.8) (1.0) (0.7) (1.0) (6.3) (8.5) (12.1) (10.7) (16.5) (18.3) (18.3) (4.3) (2.6) (1.4) (0.8) (0.2) (0.0) (0.4) (0.6)
Free Cash Flow (111.8) 95.1 57.6 55.3 (177.6) 138.8 199.3 83.7 (214.8) 146.3 27.2 65.1 (150.3) 62.6 42.3 100.6 (249.8) 108.5 98.0 149.0 (122.0) 137.0