Investment banking firm PJT Partners (NYSE: PJT) fell short of the market’s revenue expectations in Q3 2026, with revenue falling 13.9% year on year to $385.1 million. Its non-GAAP profit of $1.41 per share was 4.7% above analysts’ consensus estimates.

For more on PJT, read our free full research report.

Revenue growth

Examining a company’s long-term performance can provide clues about its quality. Any business can post a good quarter or two, but the best consistently grow over the long haul. PJT’s revenue grew at a solid 12.8% compounded annual growth rate over the last five years. Its growth beat the average financials company and shows its offerings resonate with customers.

Long-term growth matters most, but within financials, a half-decade historical view may miss recent interest rate changes, market returns and industry trends. PJT’s annualized revenue growth of 16.5% over the last two years is above its five-year trend, suggesting demand was strong and recently accelerated. Note: Quarters not shown were determined to be outliers because they were impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.

This quarter, PJT missed Wall Street’s consensus estimates and reported an uninspiring 13.9% year-on-year revenue decline, generating $385.1 million in revenue.

Key takeaways from PJT’s Q3 results

PJT’s EPS beat analysts’ consensus estimates, but revenue fell slightly short of expectations, leaving the quarter softer overall. Shares remained flat at $152.96 immediately after the results.

When deciding whether to invest in PJT, consider the bigger picture of valuation and business quality as well as the latest earnings. Read more in our full research report here (it’s free).