Pershing Square Inc is a main alternative asset manager. It employs a disciplined, research-intensive approach to fundamental value investing to preserve and grow its permanent capital at high rates of return using a set of core investment principles and opportunistic asymmetric hedges.
It is a $21.8B financial services company. Revenue grew 68.3% over the last year, and it keeps 2¢ of every dollar of sales as profit. It trades at 367.0× earnings.
- Location
- New York, NY
- Sector
- Financial Services
- Founded
- 1921
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Valuation, Profitability, Quality and Moat lag behind.
Valuation15
- P/E vs own history92th pct · 0/25
- FCF yield0.8% · 5/25
- P/S25.0x · 0/25
- EV/EBITDAn/a · 10/25
Growth62
- Revenue CAGR22.0% · 25/25
- Net income CAGR9.2% · 12/25
- EPS CAGR ~5Yn/a · 0/25
- Fwd implied growth485.7% · 25/25
Profitability43
- ROIC22.7% · 20/25
- ROE5.6% · 5/25
- Net margin2.1% · 6/25
- Operating margin8.7% · 12/25
Health70
- Altman Z32.42 · 25/25
- Current ratio0.35 · 0/25
- Interest coverageno interest expense · 25/25
- Net cash / debtD/A 1% · 20/25
Quality15
- Piotroski F6/9 · 15/25
- Beneish M1.97 · 0/25
- FCF conversionn/a · 0/25
- Margin stabilityσ 33.8% · 0/25
Moat27
- ROIC >12% years1/3 yrs · 6/25
- Median gross margin29.6% · 6/25
- FCF-positive years2/3 yrs · 10/25
- Worst-year net marginworst -3.1% · 5/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2025FinancialBest year on record$250M net income
- FY2024FinancialBecame debt-freecash now exceeds total debt
- FY2023FinancialFirst recorded profitable year$209M net income
- 2010AcquisitionOwnership of the Pershing Square Building passed to several companies
- 1945MilestoneThe Pershing Square Building was renamed the Continental Can Building when the American Can Company leased space in…
- 1923MilestoneWhen the Pershing Square Building was completed in 1923, it immediately became popular among tenants
- 1921FoundedConstruction started in 1921 and was completed in 1923
- 1919MilestoneThe 25-story building's site, and the portion of Park Avenue immediately adjacent to it, was renamed Pershing Square…
- 1918ProductThough the IRT Lexington Avenue Line's 42nd Street station opened in 1918, the site above the station was not…
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- Revenue growing 68.3% year over year
- Strong cash conversion — FCF is 22.4% of revenue
- Could repay net debt from ~1.4 years of free cash flow
- High returns on invested capital (ROIC 22.7%)
- Altman Z-Score 32.42 — low bankruptcy-risk zone
Watch-outs
- Loss-making in 1 of the recent years
- Short reporting history — trends are less reliable
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+68.3% YoY
- Profitable — makes more than it spends$16.1M TTM
- Profit growing — earnings are higher than last year+1865.1% YoY
- Generates cash — cash left after running and investing$172M TTM
- Debt under control — could handle its obligations~0.1y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$21.8B market cap
- Proven track record — years of profitability behind it2/3 profitable years
- Financially stable — balance sheet not near distressAltman Z 32.4 — safe
- Pays a dividend — returns cash to shareholdersno data
- Valuation not extreme — price not wildly above earningsP/E 367.0
Peer comparisonPershing Square Inc. vs 6 largest financial services peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| PS this company | $21.8B | 367.0 | +68.3% | 2.1% | Solid |
| BRK.A Berkshire Hathaway Inc. | $1.1T | 11.6 | +3.9% | 22.3% | Mixed |
| BRK.B Berkshire Hathaway | $1.1T | 11.6 | +0.0% | 18.0% | Strong |
| JPM JPMorgan Chase & Co. | $886.2B | 13.6 | +13.5% | 32.6% | Strained |
| V VISA Inc. | $723.9B | 31.9 | +14.4% | 50.8% | Solid |
| MA Mastercard Incorporated | $516.4B | 31.7 | +16.0% | 46.3% | Mixed |
| BAC Bank of America Corporation | $380.4B | 11.3 | +15.9% | 27.8% | Mixed |
Head-to-head: PS vs BRK.A · PS vs BRK.B · PS vs JPM
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2023–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/PS
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Deeper analysis of PS on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $54.59 · market cap $21.8B.