Is PJT Partners, Inc. overvalued or undervalued?

As of 7 July 2025, the valuation grade for PJT Partners, Inc. moved from fair to very expensive. The company appears overvalued based on its current metrics, which include a P/E ratio of 39, a price to book value of 41.19, and an EV to EBITDA of 19.83. In comparison to peers, Jefferies Financial Group, Inc. has a more attractive P/E of 29.53, while Evercore, Inc. is also very expensive with a P/E of 58.99, highlighting PJT's relative overvaluation.
Despite its strong recent performance, with a year-to-date return of 19.30% compared to the S&P 500's 12.22%, the high valuation ratios suggest that the stock may not be a sustainable investment at current levels. The significant disparity in valuation ratios among peers further reinforces the conclusion that PJT Partners, Inc. is overvalued.