NYSE : PS
Pershing Square Inc. — Financial statements
Financials · Asset Management · United States
Last price 45.66 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 18.26B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Pershing Square Inc. (PS) reported revenue of 768.71M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | 768.71M | 762.51M | 455.50M | 512.66M |
| Cost of Revenue | 596.11M | 536.66M | 408.43M | 231.54M |
| Gross Profit | 172.60M | 225.85M | 47.06M | 281.12M |
| Selling, General & Admin | 124.65M | 62.30M | 63.98M | 35.77M |
| Operating Expenses | 126.94M | 64.60M | 66.75M | 38.53M |
| Operating Income | 45.66M | 161.25M | -19.69M | 242.59M |
| Interest Expense | -4.17M | -2.30M | -3.10M | -7.07M |
| Interest & Investment Income | 2.76M | 16.91M | 28.51M | 738.64K |
| Other Non Operating Income (Expenses) | 15.55M | 5.24M | 5.67M | 4.27M |
| EBT Excluding Unusual Items | 59.80M | 181.09M | 11.39M | 240.53M |
| Gain (Loss) on Sale of Investments | -19.68M | 122.92M | 6.99M | 11.36M |
| Pretax Income | 40.12M | 304.02M | 18.38M | 251.89M |
| Income Tax Expense | 10.18M | 22.31M | 15.99M | 18.17M |
| Earnings From Continuing Operations | 29.95M | 281.71M | 2.39M | 233.72M |
| Minority Interest in Earnings | -13.86M | -31.93M | -16.54M | -24.26M |
| Net Income | 16.09M | 249.78M | -14.15M | 209.46M |
| Net Income to Common | 16.09M | 249.78M | -14.15M | 209.46M |
| Free Cash Flow | 172.02M | -134.68M | 292.92M | 83.78M |
| Gross Margin | 22.45% | 29.62% | 10.33% | 54.84% |
| Operating Margin | 5.94% | 21.15% | -4.32% | 47.32% |
| Profit Margin | 2.09% | 32.76% | -3.11% | 40.86% |
| Free Cash Flow Margin | 22.38% | -17.66% | 64.31% | 16.34% |
| EBITDA | 63.17M | 163.55M | -16.91M | 245.35M |
| EBITDA Margin | 8.22% | 21.45% | -3.71% | 47.86% |
| D&A For EBITDA | 17.51M | 2.30M | 2.78M | 2.76M |
| EBIT | 45.66M | 161.25M | -19.69M | 242.59M |
| EBIT Margin | 5.94% | 21.15% | -4.32% | 47.32% |
| Effective Tax Rate | 25.36% | 7.34% | 86.99% | 7.21% |
| Revenue as Reported | 768.71M | 762.51M | 455.50M | 512.66M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Cash & Equivalents | 8.91M | 55.40M | 964.86M | 4.27M |
| Cash & Short-Term Investments | 8.91M | 55.40M | 964.86M | 4.27M |
| Accounts Receivable | 497.33M | 232.67M | 321.70M | |
| Other Receivables | 1.27M | 15.61M | 8.07M | 7.68M |
| Receivables | 1.27M | 512.94M | 240.74M | 329.37M |
| Prepaid Expenses | 4.54M | 1.34M | 865.52K | 1.40M |
| Restricted Cash | 118.94K | 118.94K | 118.94K | 382.44K |
| Other Current Assets | 63.07M | |||
| Total Current Assets | 14.84M | 569.81M | 1.21B | 398.49M |
| Property, Plant & Equipment | 21.76M | 43.42M | 47.42M | 53.69M |
| Long-Term Investments | 899.88M | 797.22M | 59.51M | 65.82M |
| Other Long-Term Assets | 876.18M | 290.75M | 5.27M | 5.65M |
| Total Assets | 1.81B | 1.70B | 1.32B | 523.66M |
| Accounts Payable | 7.92M | 8.62M | 6.98M | 5.58M |
| Accrued Expenses | 13.20M | 505.08M | 241.06M | 221.23M |
| Current Portion of Leases | 6.43M | |||
| Current Income Taxes Payable | 17.03M | 13.63M | 12.82M | |
| Other Current Liabilities | 10.10M | 8.74M | ||
| Total Current Liabilities | 21.12M | 547.26M | 270.40M | 239.63M |
| Long-Term Debt | 231.99M | 34.80M | 34.80M | 108.73M |
| Long-Term Leases | 21.06M | 36.24M | 46.33M | 50.61M |
| Long-Term Unearned Revenue | 3.79M | 3.79M | ||
| Total Liabilities | 403.48M | 622.09M | 351.53M | 398.96M |
| Common Stock | 400.00K | 1.02B | 920.47M | 78.84M |
| Total Common Equity | 1.36B | 1.02B | 920.47M | 78.84M |
| Minority Interest | 48.24M | 62.69M | 46.79M | 45.85M |
| Shareholders' Equity | 1.41B | 1.08B | 967.26M | 124.69M |
| Total Liabilities & Equity | 1.81B | 1.70B | 1.32B | 523.66M |
| Total Debt | 253.05M | 77.47M | 81.13M | 159.33M |
| Net Cash (Debt) | -244.14M | -22.08M | 883.73M | -155.06M |
| Working Capital | -6.29M | 22.55M | 936.18M | 158.86M |
| Tangible Book Value | 1.36B | 1.02B | 920.47M | 78.84M |
| Machinery | 3.73M | 3.70M | 3.33M | 47.80M |
| Leasehold Improvements | 28.41M | 28.40M | 28.33M | 28.33M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Net Income | 16.09M | 249.78M | -14.15M | 209.46M |
| Depreciation & Amortization | 17.51M | 2.30M | 2.78M | 2.76M |
| Loss (Gain) From Sale of Investments | 36.43M | -110.70M | ||
| Other Operating Activities | 30.66M | 45.31M | 132.06M | 28.24M |
| Change in Accounts Receivable | 1.01M | -264.66M | 89.03M | -321.66M |
| Change in Accounts Payable | -1.97M | 1.64M | 1.40M | 1.46M |
| Change in Unearned Revenue | 36.00K | 3.79M | ||
| Change in Income Taxes | 3.40M | 804.02K | 12.60M | |
| Change in Other Net Operating Assets | -8.56M | -65.09M | 82.56M | 150.95M |
| Operating Cash Flow | 172.22M | -134.23M | 294.48M | 83.80M |
| Capital Expenditures | -199.99K | -449.44K | -1.56M | -17.79K |
| Investment in Securities | -232.88M | -607.23M | ||
| Investing Cash Flow | -233.08M | -607.68M | -1.56M | -17.79K |
| Long-Term Debt Issued | 16.38M | |||
| Long-Term Debt Repaid | -80.54M | -2.87M | ||
| Net Debt Issued (Repaid) | 197.02M | -64.15M | -2.87M | |
| Issuance of Common Stock | 1.05B | |||
| Other Financing Activities | -174.86M | -167.55M | -315.61M | -81.42M |
| Financing Cash Flow | 22.15M | -167.55M | 667.40M | -84.29M |
| Net Cash Flow | -38.71M | -909.46M | 960.32M | -507.42K |
| Free Cash Flow | 172.02M | -134.68M | 292.92M | 83.78M |
| Free Cash Flow Margin | 22.38% | -17.66% | 64.31% | 16.34% |
| Levered Free Cash Flow | 153.76M | 98.93M | 170.25M | |
| Unlevered Free Cash Flow | 156.20M | 100.37M | 172.18M | |
| Cash Interest Paid | 4.53M | 2.36M | 4.33M | 6.49M |
| Cash Income Tax Paid | 21.21M | 19.44M | 15.18M | 5.57M |
| Change in Working Capital | -18.41M | -320.92M | 173.79M | -156.66M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Market Capitalization | 18.64B | |||
| Enterprise Value | 18.89B | |||
| Debt / Equity Ratio | 0.18 | 0.07 | 0.08 | 1.28 |
| Debt / EBITDA Ratio | 4.01 | 0.47 | 0.64 | |
| Debt / FCF Ratio | 1.47 | 0.28 | 1.90 | |
| Net Debt / Equity Ratio | 0.17 | 0.02 | -0.91 | 1.24 |
| Net Debt / EBITDA Ratio | 3.87 | 0.14 | 52.25 | 0.63 |
| Net Debt / FCF Ratio | 1.42 | -0.16 | -3.02 | 1.85 |
| Asset Turnover | 0.53 | 0.51 | 0.49 | |
| Quick Ratio | 0.48 | 1.04 | 4.46 | 1.39 |
| Current Ratio | 0.70 | 1.04 | 4.46 | 1.66 |
| Return on Equity (ROE) | 2.53% | 27.53% | 0.44% | |
| Return on Assets (ROA) | 1.98% | 6.67% | -1.34% | |
| Return on Invested Capital (ROIC) | 2.68% | 25.22% | -1.41% | 80.46% |
| Return on Capital Employed (ROCE) | 2.50% | 14.00% | -1.90% | 85.40% |