PJT vs. HLI
PJT (PJT Partners Inc.) and HLI (Houlihan Lokey, Inc.) are both stocks. Both operate in the Capital Markets industry within the Financial Services sector. Over the past 10 years, PJT returned 23.00%/yr vs 20.83%/yr for HLI. Their 0.60 correlation means they have sometimes moved together and sometimes differently.
Performance
PJT vs. HLI - Performance Comparison
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Returns By Period
In the year-to-date period, PJT achieves a 1.00% return, which is significantly higher than HLI's -27.33% return. Over the past 10 years, PJT has outperformed HLI with an annualized return of 23.00%, while HLI has yielded a comparatively lower 20.83% annualized return.
PJT
- 1D
- 0.45%
- 1M
- 3.26%
- 6M
- -2.41%
- YTD
- 1.00%
- 1Y
- -5.40%
- 3Y*
- 28.82%
- 5Y*
- 18.58%
- 10Y*
- 23.00%
- ALL TIME*
- 21.10%
HLI
- 1D
- -2.22%
- 1M
- -10.46%
- 6M
- -24.80%
- YTD
- -27.33%
- 1Y
- -32.88%
- 3Y*
- 9.41%
- 5Y*
- 9.05%
- 10Y*
- 20.83%
- ALL TIME*
- 19.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $142.65M | $141.77M | $121.60M | |
| $66.97M | $77.62M | $67.92M |
PJT vs. HLI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PJT PJT Partners Inc. | 1.00% | 6.62% | 56.23% | 40.00% | 0.92% | 2.62% | 67.34% | 17.00% | -14.67% | 48.41% |
HLI Houlihan Lokey, Inc. | -27.33% | 1.64% | 47.04% | 40.67% | -13.88% | 57.04% | 40.61% | 36.33% | -17.20% | 49.30% |
Correlation
The correlation between PJT and HLI is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.73 |
Correlation (3Y) Balances recent behavior with more history. | 0.73 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.71 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2015 | 0.60 |
The correlation between PJT and HLI shifts across timeframes, from 0.60 (all time) to 0.73 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
PJT:
$4.35B
HLI:
$8.77B
PJT:
$6.96
HLI:
$5.96
PJT:
24.18
HLI:
21.06
PJT:
3.09
HLI:
6.51
PJT:
2.56
HLI:
3.39
PJT:
15.44
HLI:
3.76
PJT:
$1.89B
HLI:
$2.52B
PJT:
$620.91M
HLI:
$1.28B
PJT:
$429.26M
HLI:
$602.44M
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Return for Risk
PJT vs. HLI — Risk / Return Rank
PJT
HLI
PJT vs. HLI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PJT Partners Inc. (PJT) and Houlihan Lokey, Inc. (HLI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PJT | HLI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.99 | ||
| Sortino ratioReturn per unit of downside risk | +1.56 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 0.80 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.16 | -0.85 | +0.69 |
| Martin ratioReturn relative to average drawdown | -0.34 | -1.53 | +1.19 |
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Drawdowns
PJT vs. HLI - Drawdown Comparison
The maximum PJT drawdown since its inception was -58.44%, which is greater than HLI's maximum drawdown of -39.28%. Use the drawdown chart below to compare losses from any high point for PJT and HLI.
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Drawdown Indicators
| PJT | HLI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.44% | -39.28% | -19.16% |
Max Drawdown (1Y)Largest decline over 1 year | -32.47% | -39.28% | +6.81% |
Max Drawdown (3Y)Largest decline over 3 years | -32.47% | -39.28% | +6.81% |
Max Drawdown (5Y)Largest decline over 5 years | -37.80% | -39.28% | +1.48% |
Max Drawdown (10Y)Largest decline over 10 years | -58.44% | -39.28% | -19.16% |
Current DrawdownCurrent decline from peak | -11.78% | -39.28% | +27.50% |
Average DrawdownAverage peak-to-trough decline | -13.03% | -9.87% | -3.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.29% | 21.68% | -6.39% |
Volatility
PJT vs. HLI - Volatility Comparison
PJT Partners Inc. (PJT) has a higher volatility of 14.14% compared to Houlihan Lokey, Inc. (HLI) at 13.13%. This indicates that PJT's price experiences larger fluctuations and is considered to be riskier than HLI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PJT | HLI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.14% | 13.13% | +1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 24.74% | 21.93% | +2.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.09% | 28.85% | +3.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.72% | 28.49% | +2.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.61% | 27.02% | +6.59% |
Dividends
PJT vs. HLI - Dividend Comparison
PJT's dividend yield for the trailing twelve months is around 0.59%, less than HLI's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HLI Houlihan Lokey, Inc. | 1.99% | 1.36% | 1.30% | 1.82% | 2.32% | 1.56% | 1.90% | 2.46% | 2.74% | 1.76% | 2.12% | 0.57% |
PJT PJT Partners Inc. | 0.59% | 0.60% | 0.63% | 0.98% | 1.36% | 4.32% | 0.27% | 0.44% | 0.52% | 0.44% | 0.65% | 0.00% |
Financials
PJT vs. HLI - Financials Comparison
This section allows you to compare key financial metrics between PJT Partners Inc. and Houlihan Lokey, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
PJT vs. HLI - Profitability Comparison
PJT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, PJT Partners Inc. reported a gross profit of -115.63M and revenue of 486.29M. Therefore, the gross margin over that period was -23.8%.
HLI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Houlihan Lokey, Inc. reported a gross profit of 157.00M and revenue of 511.00M. Therefore, the gross margin over that period was 30.7%.
PJT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, PJT Partners Inc. reported an operating income of 102.14M and revenue of 486.29M, resulting in an operating margin of 21.0%.
HLI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Houlihan Lokey, Inc. reported an operating income of 78.00M and revenue of 511.00M, resulting in an operating margin of 15.3%.
PJT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, PJT Partners Inc. reported a net income of 45.83M and revenue of 486.29M, resulting in a net margin of 9.4%.
HLI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Houlihan Lokey, Inc. reported a net income of 78.00M and revenue of 511.00M, resulting in a net margin of 15.3%.
Frequently Asked Questions
PJT and HLI have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PJT has higher volatility (14.14%) compared to HLI (13.13%). In terms of maximum drawdown, PJT dropped -58.44% vs HLI's -39.28%.
PJT currently has the higher Sharpe Ratio (-0.16 vs -1.15), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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