PJT Partners Inc. Segments Disclosure
The Company’s activities of providing advisory services constitute a single reportable segment. An operating segment is a component of an entity that conducts business and incurs revenues and expenses for which discrete financial information is available that is reviewed by the chief operating decision maker ("CODM") in assessing performance and making resource allocation decisions. The Company's CODM is the . The Company has a operating segment and therefore a reportable segment.
The Company is organized as one operating segment in order to maximize the value of advice to clients by drawing upon the diversified expertise and broad relationships of senior professionals across the Company. The accounting policies of the reportable segment are the same as those described in the summary of significant accounting policies. The CODM assesses performance and allocates resources on a consolidated basis based on
consolidated Net Income that is presented on the Consolidated Statements of Operations as well as other broad considerations, including the market opportunity, available expertise across the Company and the strength and efficacy of professionals’ collaboration. The measure of segment assets is presented on the Consolidated Statements of Financial Condition as total consolidated assets. The CODM reviews segment assets at the same level or category as presented on the Consolidated Statements of Financial Condition. The CODM is regularly provided with the consolidated expenses as presented on the Consolidated Statements of Operations.
Since the financial markets are global in nature, the Company generally manages its business based on the operating results of the Company taken as a whole, not by geographic region. The following tables set forth the geographical distribution of revenues and assets based on the location of the office that generates the revenues or holds the assets and therefore may not be reflective of the geography in which the Company’s clients are located.
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Year Ended December 31, |
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2025 |
|
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2024 |
|
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2023 |
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Revenues from Contracts with Customers |
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|
|
|
|
|
|
|
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|||
United States |
|
$ |
1,449,161 |
|
|
$ |
1,260,982 |
|
|
$ |
957,509 |
|
United Kingdom |
|
|
205,234 |
|
|
|
159,186 |
|
|
|
165,583 |
|
Other International |
|
|
42,261 |
|
|
|
55,888 |
|
|
|
23,184 |
|
Total Revenues from Contracts with Customers |
|
|
1,696,656 |
|
|
|
1,476,056 |
|
|
|
1,146,276 |
|
Interest Income and Other1 |
|
|
17,015 |
|
|
|
17,121 |
|
|
|
6,906 |
|
Total Revenues |
|
$ |
1,713,671 |
|
|
$ |
1,493,177 |
|
|
$ |
1,153,182 |
|
|
|
December 31, |
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|
2025 |
|
|
2024 |
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||
Assets |
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|
|
|
|
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United States |
|
$ |
1,520,017 |
|
|
$ |
1,363,744 |
|
United Kingdom |
|
|
220,295 |
|
|
|
176,551 |
|
Other International |
|
|
102,938 |
|
|
|
95,039 |
|
Total |
|
$ |
1,843,250 |
|
|
$ |
1,635,334 |
|
1 Includes revenues not otherwise derived from contracts with customers.
The Company was not subject to any material concentrations with respect to its revenues for the years ended December 31, 2025, 2024 and 2023. The Company was not subject to any material concentrations of credit risk with respect to its accounts receivable as of December 31, 2025 and 2024.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2021 | Feb 25, 2022 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.