Perella Weinberg Partners (PWP) closed FY 2025 with fourth quarter revenue of US$219.2 million and basic EPS of US$0.14, alongside net income of US$9.4 million, putting hard numbers around its recent turn into profitability over the last 12 months. The firm has seen quarterly revenue move from US$211.8 million in Q1 2025 to US$164.6 million in Q3 2025 and then to US$219.2 million in Q4 2025. Basic EPS over the same period ran from US$0.28 to US$0.09 and then US$0.14, setting up a picture of a business that is now profitable with margins that investors will be watching closely.

See our full analysis for Perella Weinberg Partners.

With the headline numbers on the table, the next step is to set these results against the widely followed narratives around PWP to see which stories hold up and which ones the latest margins and earnings might challenge.

Trailing US$751 million revenue with modest profit

• On a trailing twelve month basis to Q4 2025, PWP booked US$750.9 million of revenue and US$35.5 million of net income, which works out to basic EPS of US$0.55.
• What stands out for the bullish view that highlights improving operations is that the company has moved from a trailing twelve month loss of US$64.7 million at Q4 2024 to a profit of US$35.5 million at Q4 2025. However, EPS over that same trailing period eased from US$0.98 at Q2 2025 to US$0.55 at Q4 2025, so investors who like the profitability story also need to weigh the more recent step down in trailing earnings.

To see how this earnings shift fits into the broader story that investors are building around the stock, you can read through the wider community views on PWP via Curious how numbers become stories that shape markets? Explore Community Narratives.

Premium 43.7x P/E against sector

• The trailing P/E sits at 43.7x, which is above both the US Capital Markets industry average of 22.9x and the peer average of 14.4x, so the shares are trading at a higher multiple than the comparison groups in the dataset.
• Bears point to this valuation gap as a key issue, and the data supports their concern because the DCF fair value of US$12.27 is below the current share price of US$23.26. Revenue in the dataset is only referenced with a 19.9% forecast growth rate, so cautious investors may question whether that forecast plus the recent US$0.55 of trailing EPS are enough to justify both a 43.7x P/E and the gap between share price and DCF fair value.

Revenue forecast at 19.9% growth

• The dataset shows revenue forecast at about 19.9% annual growth and flags this as higher than the 10.2% expected growth for the wider US market, while the latest reported quarterly revenue sits at US$219.2 million after three quarters in FY 2025 ranging from US$155.3 million to US$211.8 million.
• For investors leaning bullish on that near 20% revenue growth figure, the trailing twelve month revenue trend in the data, which moves from US$878.0 million at Q4 2024 down to US$750.9 million at Q4 2025, is an important cross check. It shows that the historical run rate in the dataset does not yet mirror the faster growth profile implied by the forecast, so the case for stronger top line momentum is still based on forward expectations rather than what the trailing numbers currently show.

Next Steps

Don't just look at this quarter; the real story is in the long-term trend. We've done an in-depth analysis on Perella Weinberg Partners's growth and its valuation to see if today's price is a bargain. Add the company to your watchlist or portfolio now so you don't miss the next big move.

See What Else Is Out There

PWP’s rich 43.7x P/E against sector peers, trailing EPS step down, and DCF fair value below the share price all point to valuation pressure.

If that premium price tag has you questioning the upside, it could be worth shifting your focus to 53 high quality undervalued stocks that pair stronger value signals with more conservative expectations.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.