PWP Perella Weinberg Partners - Class A Common Stock
$16.57
Price · Aug 18, 2026
Fundamentals as of Jul 31, 2026
52W Range
$14–$26
21% of range
Analyst Rating
BUY
8 analysts
Price Target
$22
+34% upside
P/E (TTM)
36.8
ROE
-15.9%
Net Profit Margin
4.7%
PWP Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$16.57
Market Cap
—
P/E (TTM)
36.8
EPS (TTM)
$0.47
Revenue (TTM)
$751M
Div Yield
—
ROE
-15.9%
Debt/Equity
—
52W Range
$14 – $26
PWP Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$751M
2019-12-31
→
2025-12-31
EPS
$0.47
2021-12-31
→
2025-12-31
Free Cash Flow
$30M
2021-12-31
→
2025-12-31
Margins
4.7%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
PWP
Peer Median
P/E (TTM)
36.8
19.6
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
PWP
Peer Median
Operating Margin
6.4%
—
Net Profit Margin
4.7%
8.1%
ROA
4.2%
3.0%
ROE
-15.9%
16.2%
ROIC
-35.1%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
PWP
Peer Median
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
PWP
Peer Median
Revenue YoY
-14.5%
—
Revenue CAGR 3Y
5.9%
—
Revenue CAGR 5Y
7.7%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
PWP
Peer Median
Payout Ratio
64.6%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
—
Payout Ratio
64.6%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| June 1, 2026 | $0.0700 |
| Feb. 17, 2026 | $0.0700 |
| Nov. 17, 2025 | $0.0700 |
| Aug. 29, 2025 | $0.0700 |
| May 14, 2025 | $0.0700 |
| Feb. 18, 2025 | $0.0700 |
| Dec. 4, 2024 | $0.0700 |
| Sept. 5, 2024 | $0.0700 |
| May 24, 2024 | $0.0700 |
| Feb. 27, 2024 | $0.0700 |
| Nov. 22, 2023 | $0.0700 |
| Aug. 31, 2023 | $0.0700 |
| May 25, 2023 | $0.0700 |
| Feb. 27, 2023 | $0.0700 |
| Nov. 23, 2022 | $0.0700 |
| Sept. 1, 2022 | $0.0700 |
| May 18, 2022 | $0.0700 |
| March 2, 2022 | $0.0700 |
| Dec. 2, 2021 | $0.0700 |
| Sept. 2, 2021 | $0.0700 |
PWP Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
8 analysts
- Strong Buy 2 25.0%
- Buy 4 50.0%
- Hold 1 12.5%
- Sell 1 12.5%
- Strong Sell 0 0.0%
12-Month Price Target
4 analysts · 2026-08-18
Median
$21.00
Mean
$22.25
← Below all targets
$16.57
Low
$17.00
High
$30.00
Median target
$21.00
+26.8%
Mean target
$22.25
+34.3%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.02%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.20 | $0.05 | 0.15% |
| March 31, 2026 | $0.05 | $0.16 | -0.11% |
| Dec. 31, 2025 | $0.17 | $0.13 | 0.04% |
| Sept. 30, 2025 | $0.13 | $0.16 | -0.03% |
| June 30, 2025 | $0.09 | $0.07 | 0.02% |
| March 31, 2025 | $0.28 | $0.22 | 0.06% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| PWP | — | 36.8 | -14.5% | 4.7% | -15.9% | — |
| LAZ | — | 22.4 | 1.5% | 7.4% | 31.4% | — |
| BULL | — | — | — | — | — | — |
| LCLN | — | — | — | — | — | — |
| BGC | — | 28.8 | 30.0% | — | — | — |
| OPY | — | 5.5 | 14.3% | 9.1% | 16.2% | — |
| SECZ | — | — | — | — | — | — |
| BTGO | — | — | — | — | — | — |
| RILY | $143M | 0.5 | 29.6% | 31.8% | -93.2% | — |
| MS | $281.00B | 17.4 | 14.4% | 23.9% | 15.6% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $751M | $878M | $649M | $632M | $802M | $519M | $533M | |
| SG&A Expense | $18M | $23M | $20M | $20M | $17M | $15M | $16M | |
| Operating Expenses | $703M | $957M | $764M | $679M | $735M | $534M | $688M | |
| Operating Income | $48M | $-79M | $-115M | $-48M | $67M | $-15M | $-155M | |
| Interest Expense | · | · | $276.0K | $276.0K | $8M | $16M | $15M | |
| Other Non-op | $4M | $10M | $2M | $26M | $-44M | $185.0K | $108.0K | |
| Pretax Income | $52M | $-68M | $-113M | $-21M | $23M | $-21M | $-162M | |
| Income Tax | $4M | $21M | $-980.0K | $10M | $19M | $3M | $2M | |
| Net Income | $35M | $-65M | $-17M | $18M | $-9M | $-5M | $-1.3K | |
| EPS (Basic) | $0.55 | $-1.22 | $-0.40 | $0.41 | $-0.22 | · | · | |
| EPS (Diluted) | $0.47 | $-1.22 | $-1.33 | $-0.46 | $-0.66 | · | · | |
| Shares (Basic) | 64,208,733 | 53,187,995 | 43,273,939 | 43,837,640 | 42,595,712 | · | · | |
| Shares (Diluted) | 100,848,937 | 53,187,995 | 86,779,052 | 89,755,632 | 92,749,911 | · | · | |
| EBITDA | $48M | $-79M | $-115M | $-48M | $67M | $-1M | · |
Balance Sheet 21
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $256M | $332M | $247M | $172M | $503M | $329M | $10.8K | |
| Short-term Investments | $0 | $76M | $91M | $140M | $0 | · | · | |
| Prepaid Expense | · | · | · | · | · | $275.8K | · | |
| Current Assets | · | · | · | · | · | $1M | $10.8K | |
| PP&E (Net) | $77M | $85M | $94M | $48M | $10M | $17M | · | |
| PP&E (Gross) | $120M | $114M | $120M | $120M | $82M | $108M | · | |
| Accum. Depreciation | $43M | $30M | $27M | $72M | $72M | $91M | · | |
| Goodwill | $73M | $34M | $34M | $34M | $34M | $34M | · | |
| Intangibles | $13M | $13M | $19M | $26M | $32M | $39M | · | |
| Total Assets | $798M | $877M | $761M | $717M | $718M | $543M | $65.6K | |
| Accrued Liabilities | · | · | · | · | · | $793.0K | $450 | |
| Current Liabilities | · | · | · | · | · | $793.0K | $42.9K | |
| Total Liabilities | $537M | $647M | $493M | $457M | $447M | $469M | $42.9K | |
| Long-term Debt | · | · | · | · | $0 | $147M | · | |
| Common Stock | · | · | · | · | · | $376 | · | |
| Paid-in Capital | · | · | · | · | · | $10M | $24.2K | |
| Retained Earnings | $-131M | $-304M | $-55M | $-18M | $-18M | $0 | $-2.3K | |
| Treasury Stock | $138M | $111M | $101M | $80M | $12M | $0 | · | |
| AOCI | $-3M | $-6M | $-4M | $-7M | $-2M | $-2M | · | |
| Stockholders' Equity | $-127M | $-421M | $268M | $260M | $126M | $74M | $22.7K | |
| Liabilities + Equity | $798M | $877M | $761M | $717M | $718M | $543M | $65.6K |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $21M | $20M | $15M | $11M | $14M | $16M | $16M | |
| Stock-based Comp | $110M | $189M | $184M | $156M | $97M | $25M | $193M | |
| Deferred Tax | $2M | $-2M | $-2M | $-3M | $-4M | $-589.0K | $691.0K | |
| Amort. of Intangibles | $7M | $7M | $7M | $7M | $7M | $7M | $7M | |
| Operating Cash Flow | $35M | $223M | $146M | $-18M | $235M | $86M | $-106M | |
| CapEx | $4M | $16M | $58M | $27M | $1M | $6M | $7M | |
| Investing Cash Flow | $52M | $-98.0K | $-6M | $-166M | $-2M | $-6M | $-7M | |
| Stock Issued | $0 | $66M | $0 | $35M | $0 | $0 | · | |
| Net Stock Activity | $0 | $66M | $0 | $37M | · | · | · | |
| Dividends Paid | $23M | $20M | $13M | $13M | $6M | $0 | $0 | |
| Financing Cash Flow | $-169M | $-137M | $-67M | $-137M | $-55M | $-22M | $-30M | |
| Net Change in Cash | $-76M | $83M | $76M | $-331M | $174M | $64M | $-142M | |
| Taxes Paid | $9M | $10M | $5M | · | · | · | · | |
| Free Cash Flow | $30M | $207M | $88M | $-44M | $233M | · | · | |
| Levered FCF | · | · | $88M | $-45M | $232M | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 6.4% | -8.9% | -17.7% | -7.6% | 8.3% | · | · | |
| Net Margin | 4.7% | -7.4% | -2.7% | 2.8% | -1.2% | · | · | |
| Pretax Margin | 6.9% | -7.8% | -17.4% | -3.4% | 2.9% | · | · | |
| EBITDA Margin | 6.4% | -8.9% | -17.7% | -7.6% | 8.3% | · | · | |
| ROA | 4.2% | -7.9% | -2.3% | 2.5% | -1.5% | -4.4% | · | |
| ROE | -15.9% | 16.6% | -8.3% | 13.6% | -9.4% | -203.3% | · | |
| ROIC | -35.1% | 24.4% | -74.7% | -51.5% | 9.2% | · | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | · | · | · | · | · | 1.8 | · | |
| Quick Ratio | · | · | · | · | · | 1.5 | · | |
| Interest Coverage | · | · | -417.0 | -172.9 | 8.8 | · | · |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.9 | 1.1 | 0.9 | 0.9 | 1.3 | · | · |
Growth Rates 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -14.5% | 35.4% | 2.7% | -21.2% | 54.5% | · | · | |
| Revenue CAGR 3Y | 5.9% | 3.1% | 7.7% | · | · | · | · | |
| Revenue CAGR 5Y | 7.7% | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 25.7% | · | · | · | · | · | · |
Valuation (TTM) 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $751M | $878M | $649M | $632M | $802M | $519M | · | |
| Net Income TTM | $35M | $-65M | $-17M | $18M | $-9M | $-5M | · | |
| P/E | 36.8 | -19.5 | -9.2 | -21.3 | -19.5 | · | · | |
| Earnings Yield | 2.7% | -5.1% | -10.9% | -4.7% | -5.1% | · | · | |
| Payout Ratio | 64.6% | -31.3% | -76.3% | 71.8% | -63.6% | · | · | |
| Annual Payout | $23M | $20M | $13M | $13M | $6M | $0 | · |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $157M | $149M | $219M | $165M | $155M | $212M | $226M | $278M | $272M | $102M | $213M | $139M | $166M | $131M | $183M | $145M | |
| SG&A Expense | $4M | $4M | $3M | $4M | $5M | $5M | $5M | $6M | $7M | $5M | $4M | $5M | $6M | $5M | $5M | $4M | |
| Operating Expenses | $151M | $162M | $201M | $156M | $146M | $200M | $204M | $242M | $354M | $156M | $257M | $166M | $187M | $154M | $203M | $154M | |
| Operating Income | $5M | $-13M | $19M | $9M | $9M | $12M | $21M | $36M | $-82M | $-54M | $-44M | $-27M | $-22M | $-23M | $-20M | $-9M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $69.0K | |
| Other Non-op | $1M | $2M | $3M | $3M | $-3M | $231.0K | $6M | $457.0K | $745.0K | $3M | $22.0K | $3M | $-1M | $556.0K | $9M | $529.0K | |
| Pretax Income | $6M | $-11M | $22M | $12M | $6M | $12M | $28M | $36M | $-81M | $-51M | $-44M | $-24M | $-23M | $-22M | $-23M | $-8M | |
| Income Tax | $-247.0K | $-10M | $8M | $3M | $2M | $-9M | $-5M | $8M | $-642.0K | $19M | $-2M | $-191.0K | $-5M | $5M | $-380.0K | $5M | |
| Net Income | $5M | $1M | $9M | $6M | $3M | $17M | $21M | $16M | $-66M | $-36M | $-10M | $-2M | $359.0K | $-5M | $-1M | $1M | |
| EPS (Basic) | $0.07 | $0.02 | $0.14 | $0.09 | $0.04 | $0.28 | $0.43 | $0.29 | $-1.21 | $-0.73 | $-0.24 | $-0.05 | $0.01 | $-0.12 | $-0.02 | $0.03 | |
| EPS (Diluted) | $0.06 | $0.02 | $0.11 | $0.08 | $0.04 | $0.24 | $0.66 | $0.24 | $-1.21 | $-0.91 | $-0.50 | $-0.27 | $-0.19 | $-0.37 | $-0.27 | $-0.19 | |
| Shares (Basic) | 74,162,048 | 70,398,710 | -125,066,079 | 64,071,958 | 63,064,731 | 62,138,123 | -106,114,989 | 55,513,159 | 54,589,542 | 49,200,283 | -84,910,964 | 43,123,465 | 42,743,611 | 42,317,827 | -88,927,903 | 42,263,427 | |
| Shares (Diluted) | 101,732,555 | 101,175,788 | -174,055,403 | 100,233,456 | 98,831,307 | 75,839,577 | -161,716,561 | 69,795,656 | 54,589,542 | 90,519,358 | -173,001,289 | 86,647,697 | 86,521,626 | 86,611,018 | -181,910,347 | 87,745,776 | |
| EBITDA | $5M | $-13M | · | $9M | $9M | $12M | · | $36M | $-82M | $-54M | · | $-27M | $-22M | $-23M | · | $-9M |
Balance Sheet 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $116M | $78M | $256M | $186M | $145M | $111M | $332M | $260M | $185M | $157M | · | $127M | $130M | $105M | · | $143M | |
| Short-term Investments | · | · | $0 | $0 | $0 | $0 | $76M | $75M | $0 | $0 | · | $70M | $50M | $25M | · | $139M | |
| PP&E (Net) | $73M | $75M | $77M | $79M | $81M | $82M | $85M | $89M | $91M | $93M | · | $82M | $71M | $61M | · | $21M | |
| PP&E (Gross) | $122M | $121M | $120M | $119M | $117M | $115M | $114M | $126M | $124M | $123M | · | $117M | $104M | $92M | · | $94M | |
| Accum. Depreciation | $50M | $46M | $43M | $40M | $37M | $33M | $30M | $37M | $33M | $30M | · | $35M | $33M | $31M | · | $73M | |
| Goodwill | $73M | $73M | $73M | $34M | $34M | $34M | $34M | $34M | $34M | $34M | · | $34M | $34M | $34M | · | $34M | |
| Intangibles | $8M | $10M | $13M | $8M | $9M | $11M | $13M | $14M | $16M | $18M | · | $21M | $22M | $24M | · | $27M | |
| Total Assets | $645M | $596M | $798M | $650M | $607M | $570M | $877M | $811M | $646M | $584M | · | $634M | $582M | $525M | · | $632M | |
| Total Liabilities | $381M | $368M | $537M | $450M | $431M | $409M | $647M | $569M | $422M | $305M | · | $369M | $324M | $275M | · | $357M | |
| Retained Earnings | $-137M | $-136M | $-131M | $-162M | $-179M | $-198M | $-304M | $-246M | $-168M | $-96M | · | $-40M | $-33M | $-28M | · | $-12M | |
| Treasury Stock | $135M | $135M | $138M | $138M | $138M | $121M | $111M | $111M | $114M | $99M | · | $101M | $101M | $94M | · | $65M | |
| AOCI | $-4M | $-4M | $-3M | $-2M | $-721.0K | $-4M | $-6M | $-3M | $-5M | $-5M | · | $-6M | $-5M | $-6M | · | $-8M | |
| Stockholders' Equity | $-46M | $-155M | $-127M | $-302M | $-318M | $-323M | $-421M | $-361M | $-283M | $162M | $268M | $144M | $141M | $133M | · | $140M | |
| Liabilities + Equity | $645M | $596M | $798M | $650M | $607M | $570M | $877M | $811M | $646M | $584M | · | $634M | $582M | $525M | · | $632M |
Cash Flow 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $6M | $6M | $6M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $4M | $4M | $3M | $3M | $2M | |
| Stock-based Comp | $36M | $31M | $28M | $28M | $28M | $26M | $23M | $29M | $90M | $47M | $50M | $43M | $43M | $48M | $40M | $38M | |
| Amort. of Intangibles | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Operating Cash Flow | $49M | $-110M | $96M | $59M | $56M | $-177M | $139M | $200M | $90M | $-206M | $158M | $38M | $82M | $-132M | $81M | $47M | |
| CapEx | $2M | $2M | $963.0K | $2M | $787.0K | $1M | $658.0K | $993.0K | $6M | $8M | $12M | $11M | $16M | $18M | $18M | $4M | |
| Investing Cash Flow | $-2M | $-2M | $-20M | $-2M | $-787.0K | $74M | $-658.0K | $-76M | $-6M | $83M | $-32M | $-30M | $-41M | $98M | $-19M | $-28M | |
| Stock Issued | · | · | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $66M | $0 | $0 | $0 | $0 | $-1M | $0 | |
| Net Stock Activity | · | · | · | · | · | $0 | · | · | · | $66M | · | · | · | $0 | · | · | |
| Dividends Paid | $6M | $9M | $5M | $6M | $4M | $8M | $5M | $7M | $4M | $5M | $3M | $4M | $3M | $4M | $3M | $3M | |
| Financing Cash Flow | $-9M | $-64M | $-6M | $-18M | $-24M | $-121M | $-63M | $-51M | $-57M | $34M | $-7M | $-10M | $-17M | $-33M | $-34M | $-25M | |
| Net Change in Cash | $38M | $-178M | $70M | $40M | $34M | $-220M | $71M | $75M | $27M | $-90M | $121M | $-3M | $25M | $-67M | $29M | $-8M | |
| Taxes Paid | $2M | $-166.0K | $391.0K | $-395.0K | $-355.0K | $10M | $11M | $-2M | $344.0K | $695.0K | $133.0K | · | · | · | · | · | |
| Free Cash Flow | · | $-112M | · | · | · | $-178M | · | · | · | $-215M | · | · | · | $-151M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 3.2% | -8.7% | · | 5.4% | 5.8% | 5.5% | · | 12.9% | -30.2% | -52.4% | · | -19.2% | -13.1% | -17.3% | · | -6.1% | |
| Net Margin | 3.4% | 1.0% | · | 3.6% | 1.8% | 8.2% | · | 5.9% | -24.3% | -35.1% | · | -1.5% | 0.22% | -3.9% | · | 0.78% | |
| Pretax Margin | 3.9% | -7.1% | · | 7.0% | 4.0% | 5.6% | · | 13.1% | -30.0% | -49.9% | · | -17.2% | -13.8% | -16.8% | · | -5.7% | |
| EBITDA Margin | 3.2% | -8.7% | · | 5.4% | 5.8% | 5.5% | · | 12.9% | -30.2% | -52.4% | · | -19.2% | -13.1% | -17.3% | · | -6.1% | |
| ROA | 0.85% | 0.26% | · | 0.82% | 0.44% | 3.0% | · | 2.3% | -10.8% | -6.5% | · | -0.32% | 0.06% | -1.0% | · | 0.18% | |
| ROE | -2.9% | -0.62% | · | -1.8% | -0.91% | -21.5% | · | -15.1% | 92.9% | -24.3% | · | -1.4% | 0.26% | -3.6% | · | 0.86% | |
| ROIC | -11.5% | 0.58% | · | -2.2% | -1.9% | -6.5% | · | -7.9% | 28.8% | -45.5% | · | -18.4% | -12.4% | -21.1% | · | -9.8% |
Liquidity & Solvency 1
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | -127.8 |
Efficiency 1
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.3 | · | 0.2 | 0.2 | 0.4 | · | 0.4 | 0.4 | 0.2 | · | 0.2 | 0.3 | 0.3 | · | 0.2 |
Valuation (TTM) 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $625M | $681M | · | $810M | $917M | $864M | · | $791M | $679M | $538M | · | $581M | $593M | $580M | · | $626M | |
| Net Income TTM | $16M | $28M | · | $42M | $-30M | $-68M | · | $-88M | $-104M | $-43M | · | $-6M | $6M | $14M | · | $23M | |
| P/E | 79.8 | 47.8 | · | 35.5 | -28.1 | -11.2 | · | -9.0 | -6.3 | -8.1 | · | -10.0 | -11.1 | -16.2 | · | -22.6 | |
| Earnings Yield | 1.2% | 2.1% | · | 2.8% | -3.5% | -8.9% | · | -11.1% | -15.9% | -12.3% | · | -10.0% | -9.0% | -6.2% | · | -4.4% | |
| Payout Ratio | · | 580.6% | · | · | · | 48.1% | · | · | · | -13.3% | · | · | · | -68.9% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $751M | $878M | $649M | $632M | $802M |
| Operating Margin % | 6.4% | -8.9% | -17.7% | -7.6% | 8.3% |
| Net Income | $35M | $-65M | $-17M | $18M | $-9M |
| Diluted EPS | $0.47 | $-1.22 | $-1.33 | $-0.46 | $-0.66 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $30M | $207M | $88M | $-44M | $233M |
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Institutional owners (13F) 171 filers · $931.2M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 33 (+10 vs prior Q) | 24 (-7 vs prior Q) | 65 (-5 vs prior Q) | 41 (+3 vs prior Q) | +8.8M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| FMR LLC | $120,887,025 | 7,574,375 | 12.98% | Shares |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | $70,073,034 | 4,390,541 | 7.52% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $58,335,125 | 3,655,083 | 6.26% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $52,853,423 | 3,311,618 | 5.68% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $48,397,982 | 3,032,455 | 5.20% | Shares |
| Capital World Investors | $42,702,384 | 2,675,588 | 4.59% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $40,686,000 | 2,549,221 | 4.37% | Shares |
| Boston Partners | $39,402,290 | 2,469,134 | 4.23% | Shares |
| AMERIPRISE FINANCIAL INC | $34,162,393 | 2,140,498 | 3.67% | Shares |
| STATE STREET CORP | $32,540,812 | 2,038,898 | 3.49% | Shares |
| Nuveen, LLC | $32,452,841 | 2,033,386 | 3.48% | Shares |
| WESTWOOD HOLDINGS GROUP INC | $29,693,915 | 1,860,521 | 3.19% | Shares |
| FRONTIER CAPITAL MANAGEMENT CO LLC | $25,922,152 | 1,624,195 | 2.78% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $24,952,168 | 1,563,043 | 2.68% | Shares |
| ROYCE & ASSOCIATES LP | $22,235,280 | 1,393,188 | 2.39% | Shares |
| WASATCH ADVISORS LP | $20,346,537 | 1,120,404 | 2.18% | Shares |
| Aristotle Capital Boston, LLC | $18,389,434 | 1,152,220 | 1.97% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $17,395,688 | 1,128,125 | 1.87% | Shares |
| Walleye Capital LLC | $15,331,128 | 960,597 | 1.65% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $14,832,953 | 929,383 | 1.59% | Shares |
| BASSWOOD CAPITAL MANAGEMENT, L.L.C. | $12,588,243 | 788,737 | 1.35% | Shares |
| Point72 Asset Management, L.P. | $11,557,578 | 724,159 | 1.24% | Shares |
| BANK OF AMERICA CORP /DE/ | $10,880,587 | 681,741 | 1.17% | Shares |
| Balyasny Asset Management L.P. | $10,453,624 | 654,989 | 1.12% | Shares |
| Rockefeller Capital Management L.P. | $9,993,651 | 626,168 | 1.07% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $9,492,976 | 594,798 | 1.02% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $9,457,226 | 592,558 | 1.02% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $8,123,177 | 508,971 | 0.87% | Shares |
| SILVERCREST ASSET MANAGEMENT GROUP LLC | $7,045,702 | 441,460 | 0.76% | Shares |
| LOOMIS SAYLES & CO L P | $6,627,246 | 415,241 | 0.71% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $6,464,470 | 405,042 | 0.69% | Shares |
| Ranger Investment Management, L.P. | $5,138,881 | 321,985 | 0.55% | Shares |
| Ceredex Value Advisors LLC | $3,736,236 | 234,100 | 0.40% | Shares |
| GOLDMAN SACHS GROUP INC | $3,281,376 | 205,600 | 0.35% | Shares |
| FIRST TRUST ADVISORS LP | $2,472,890 | 154,943 | 0.27% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $2,362,269 | 148,012 | 0.25% | Shares |
| Bank of New York Mellon Corp | $2,204,730 | 138,141 | 0.24% | Shares |
| Swiss National Bank | $2,146,620 | 134,500 | 0.23% | Shares |
| WESBANCO BANK INC | $1,979,040 | 124,000 | 0.21% | Shares |
| Freestone Grove Partners LP | $1,884,254 | 118,061 | 0.20% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $1,568,370 | 86,364 | 0.17% | Shares |
| Voleon Capital Management LP | $1,499,522 | 93,955 | 0.16% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,492,570 | 82,190 | 0.16% | Shares |
| Grandeur Peak Global Advisors, LLC | $1,421,972 | 89,096 | 0.15% | Shares |
| RHUMBLINE ADVISERS | $1,415,337 | 88,681 | 0.15% | Shares |
| BARCLAYS PLC | $1,322,414 | 82,858 | 0.14% | Shares |
| Atom Investors LP | $1,225,521 | 76,787 | 0.13% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $1,217,173 | 76,264 | 0.13% | Shares |
| CITIGROUP INC | $1,209,688 | 75,795 | 0.13% | Shares |
| Cinctive Capital Management LP | $1,202,171 | 75,324 | 0.13% | Shares |
| Private Advisor Group, LLC | $1,154,143 | 72,315 | 0.12% | Shares |
| UBS Group AG | $1,146,790 | 71,854 | 0.12% | Shares |
| CITADEL ADVISORS LLC | $1,071,475 | 67,135 | 0.12% | Shares |
| WELLS FARGO & COMPANY/MN | $1,022,876 | 64,090 | 0.11% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $934,618 | 58,560 | 0.10% | Shares |
| NEUBERGER BERMAN GROUP LLC | $910,167 | 57,028 | 0.10% | Shares |
| BlackRock, Inc. | $905,682 | 56,747 | 0.10% | Shares |
| Riverwater Partners LLC | $741,294 | 46,447 | 0.08% | Shares |
| ALGERT GLOBAL LLC | $730,808 | 45,790 | 0.08% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $709,039 | 44,426 | 0.08% | Shares |
| FIFTH THIRD BANCORP | $697,612 | 43,710 | 0.07% | Shares |
| RAYMOND JAMES FINANCIAL INC | $676,784 | 42,405 | 0.07% | Shares |
| Quantinno Capital Management LP | $671,027 | 42,044 | 0.07% | Shares |
| JANUS HENDERSON GROUP PLC | $662,549 | 36,494 | 0.07% | Shares |
| MetLife Investment Management, LLC | $641,385 | 40,187 | 0.07% | Shares |
| Jain Global LLC | $568,655 | 35,630 | 0.06% | Shares |
| Y-Intercept (Hong Kong) Ltd | $544,443 | 34,113 | 0.06% | Shares |
| Penn Capital Management Company, LLC | $516,498 | 32,362 | 0.06% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $516,322 | 32,351 | 0.06% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $469,368 | 29,409 | 0.05% | Shares |
| VANGUARD GROUP INC | $456,218 | 26,371 | 0.05% | Shares |
| Invesco Ltd. | $446,289 | 27,963 | 0.05% | Shares |
| EMERALD ADVISERS, LLC | $439,969 | 27,567 | 0.05% | Shares |
| XTX Topco Ltd | $432,644 | 27,108 | 0.05% | Shares |
| Vanguard Global Advisers, LLC | $420,881 | 26,371 | 0.05% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $393,494 | 24,655 | 0.04% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $370,671 | 23,225 | 0.04% | Shares |
| ALLSTATE CORP | $355,876 | 22,298 | 0.04% | Shares |
| Kings Path Partners LLC | $352,078 | 22,060 | 0.04% | Shares |
| IFP Advisors, Inc | $340,810 | 21,354 | 0.04% | Shares |
| CITADEL ADVISORS LLC | $333,564 | 20,900 | 0.04% | Call option |
| Police & Firemen's Retirement System of New Jersey | $330,707 | 20,721 | 0.04% | Shares |
| Wescott Financial Advisory Group, LLC | $327,382 | 20,513 | 0.04% | Shares |
| Bleakley Financial Group, LLC | $323,480 | 20,268 | 0.03% | Shares |
| ARIZONA STATE RETIREMENT SYSTEM | $295,180 | 18,495 | 0.03% | Shares |
| PDT Partners, LLC | $290,472 | 18,200 | 0.03% | Shares |
| US BANCORP \DE\ | $286,243 | 17,935 | 0.03% | Shares |
| Vanguard Investments Australia, Ltd. | $284,822 | 17,846 | 0.03% | Shares |
| Engineers Gate Manager LP | $272,916 | 17,100 | 0.03% | Shares |
| ExodusPoint Capital Management, LP | $272,325 | 17,063 | 0.03% | Shares |
| LPL Financial LLC | $263,171 | 16,489 | 0.03% | Shares |
| Pathstone Holdings, LLC | $238,330 | 14,933 | 0.03% | Shares |
| COMMERCE BANK | $237,628 | 14,889 | 0.03% | Shares |
| FRANKLIN RESOURCES INC | $234,883 | 14,717 | 0.03% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $229,808 | 14,399 | 0.02% | Shares |
| CWM, LLC | $229,579 | 12,642 | 0.02% | Shares |
| KLP KAPITALFORVALTNING AS | $226,632 | 14,200 | 0.02% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $220,056 | 13,788 | 0.02% | Shares |
| RITHOLTZ WEALTH MANAGEMENT | $218,812 | 13,710 | 0.02% | Shares |
| Nebula Research & Development LLC | $214,183 | 11,029 | 0.02% | Shares |
Company insiders 21 insiders · 5 officers · 8 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Peter A Weinberg | Chairman and CEO | March 4, 2022 A | 356,996 | 0 | 0 | $0 |
| Gary Barancik | Chief Financial Officer | March 4, 2022 A | 61,221 | 0 | 0 | $0 |
| Dietrich Becker | Co-President | March 4, 2022 A | 281,130 | 0 | 0 | $0 |
| Vladimir Shendelman | General Counsel | March 4, 2022 A | 51,831 | 0 | 0 | $0 |
| Alexandra Gottschalk | CAO and Managing Director | March 4, 2022 A | 37,229 | 0 | 0 | $0 |
| Robert K Steel | Director | June 12, 2026 S | 287,922 | 0 | 1 | $-1,576,000 |
| PWP Professional Partners LP | Director | Jan. 21, 2022 J | — | 0 | 0 | $0 |
| Daniel G Cohen | Director | Jan. 7, 2022 J | 781,132 | 0 | 0 | $0 |
| Jane Cecile Sherburne | Director | Aug. 31, 2021 A | 9,070 | 0 | 0 | $0 |
| Jorma J Ollila | Director | Aug. 31, 2021 A | 9,070 | 0 | 0 | $0 |
| Ivan G Seidenberg | Director | Aug. 31, 2021 A | 9,070 | 0 | 0 | $0 |
| Andrew Bednar | — | Aug. 7, 2026 S | 1,061,260 | 0 | 3 | $-4,080,380 |
| FinTech Masala Advisors IV, LLC | — | June 24, 2021 M | 4,506,446 | 0 | 0 | $0 |
| Laura Kohn | — | June 24, 2021 M | 20,456 | 0 | 0 | $0 |
| Jan Rock Zubrow | — | June 24, 2021 M | 20,456 | 0 | 0 | $0 |
| FinTech Investor Holdings IV, LLC | — | June 24, 2021 A | 2,950,221 | 0 | 0 | $0 |
| Madelyn Antoncic | — | June 24, 2021 M | 20,456 | 0 | 0 | $0 |
| Brittain Ezzes | — | June 24, 2021 M | 20,456 | 0 | 0 | $0 |
| James J Mcentee III | — | June 24, 2021 M | 204,562 | 0 | 0 | $0 |
| Joseph R Perella | — | June 24, 2021 A | — | 0 | 0 | $0 |
| COHEN BETSY Z | — | June 24, 2021 M | 914,736 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 35 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| GSC · Goldman Sachs ETF Trust | 0.98% | 144,718 NS | May 31, 2026 | N-PORT |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.28% | 128,606 NS | April 30, 2026 | N-PORT |
| IAI · iShares Trust | 0.11% | 86,076 SH | Aug. 8, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.09% | 15,573 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.08% | 646,466 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.07% | 75,321 SH | Aug. 8, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.06% | 11,991 NS | April 30, 2026 | N-PORT |
| RSSL · Global X Funds | 0.05% | 28,294 NS | April 30, 2026 | N-PORT |
| IWM · iShares Trust | 0.04% | 1,807,745 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.04% | 231,723 NS | April 30, 2026 | N-PORT |
| ISCV · iShares Trust | 0.04% | 15,255 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.03% | 404,207 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.03% | 3,075 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.02% | 320,154 NS | May 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.02% | 37,391 SH | Aug. 8, 2026 | Daily |
| ISCB · iShares Trust | 0.02% | 3,267 SH | Aug. 8, 2026 | Daily |
| FNCL · FIDELITY COVINGTON TRUST | 0.02% | 18,404 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.02% | 2,406 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.01% | 2,435 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 817,069 SH | Aug. 8, 2026 | Daily |
| VFH · VANGUARD WORLD FUND | 0.01% | 109,164 SH | Aug. 8, 2026 | Daily |
| WSML · iShares Trust | 0.01% | 3,194 SH | Aug. 8, 2026 | Daily |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 2,812 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.01% | 6,900 NS | April 30, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 61 NS | May 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 3,945 NS | April 30, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 15,840 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 19,918 NS | April 30, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.00% | 2,002 NS | April 30, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 101,250 SH | Aug. 8, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.00% | 35,319 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 40,489 NS | May 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 16,281 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 2,148,879 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 6,106 SH | Aug. 8, 2026 | Daily |