Partners Group Holding AG (PGHN) AI Stock Analysis

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Partners Group Holding AG

(PGHN)

71Outperform

Partners Group Holding AG's overall stock score is driven by strong financial performance and positive earnings call insights, particularly the growth in performance fees and investment activities. However, the stock's technical indicators suggest caution due to bearish trends and oversold conditions. The moderate valuation with a decent dividend yield adds to its attractiveness, balancing the risks associated with increased debt and challenges in the real estate sector.

Partners Group Holding AG (PGHN) vs. S&P 500 (SPY)

Market Cap

CHF28.91B

Dividend Yield3.6%

Average Volume (3M)86.46K

Price to Earnings (P/E)25.0

Beta (1Y)1.48

Revenue Growth9.45%

EPS Growth12.15%

CountryCH

Employees1,775

SectorFinancial

Sector Strength83

IndustryAsset Management

Share Statistics

EPS (TTM)43.40

Shares Outstanding26,700,000

10 Day Avg. Volume66,612

30 Day Avg. Volume86,464

Financial Highlights & Ratios

PEG Ratio2.06

Price to Book (P/B)N/A

Price to Sales (P/S)N/A

Price to Cash Flow (P/CF)N/A

P/FCF RatioN/A

Enterprise Value/Market CapN/A

Enterprise Value/RevenueN/A

Enterprise Value/Gross ProfitN/A

Enterprise Value/EbitdaN/A

Forecast

1Y Price Target

CHF1,198.63

Price Target Upside9.12% Upside

Rating ConsensusModerate Buy

Number of Analyst Covering8

Partners Group Holding AG Business Overview & Revenue Model

Company DescriptionPartners Group Holding AG is a leading global private markets investment management firm, headquartered in Baar, Switzerland. The company specializes in private equity, private debt, private real estate, and private infrastructure. It offers a wide range of tailored solutions to its clients, including institutional investors, private banks, family offices, and other financial intermediaries. With a strong focus on sustainable investing, Partners Group manages a diverse portfolio of assets across various sectors and geographies.

How the Company Makes MoneyPartners Group Holding AG generates revenue primarily through management fees and performance fees. Management fees are charged based on a percentage of the assets under management (AUM) and provide a steady income stream as long as the assets remain invested. Performance fees, on the other hand, are earned when the returns on investments exceed a predefined benchmark or hurdle rate, aligning the company's interests with those of its clients. Additionally, Partners Group benefits from its significant experience and expertise in sourcing, executing, and managing investments, which enhances its ability to generate attractive returns and grow its AUM. The company also collaborates with various institutional investors and partners to co-invest in opportunities, which can lead to additional revenue through shared investments and increased scale.

Partners Group Holding AG Financial Statement Overview

Summary

Income Statement

Balance Sheet

Cash Flow

TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Breakdown
Income Statement		Total Revenue
1.97B	2.02B	1.94B	2.10B	2.93B	1.60B
	Gross Profit
1.55B	1.63B	1.34B	1.83B	2.59B	1.37B
	EBIT
1.25B	0.00	1.34B	1.15B	1.77B	937.10M
	EBITDA
1.22B	1.45B	1.26B	1.19B	1.81B	975.50M
	Net Income Common Stockholders
960.20M	1.13B	1.00B	1.00B	1.46B	804.80M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
933.00M	288.90M	281.00M	779.50M	910.70M	1.23B
	Total Assets
3.95B	5.68B	4.80B	4.58B	4.83B	4.03B
	Total Debt
866.20M	2.14B	1.48B	1.15B	859.90M	865.80M
	Net Debt
-66.80M	1.86B	1.19B	367.40M	-50.80M	-361.80M
	Total Liabilities
1.66B	3.27B	2.38B	2.16B	1.93B	1.76B
	Stockholders Equity
2.29B	2.41B	2.43B	2.42B	2.90B	2.27B
Cash Flow		Free Cash Flow
662.50M	792.80M	534.40M	968.80M	639.70M	1.12B
	Operating Cash Flow
765.10M	933.90M	643.10M	1.06B	695.90M	1.15B
	Investing Cash Flow
-543.20M	-279.00M	-450.80M	-74.10M	-24.60M	-10.50M
	Financing Cash Flow
-397.50M	-653.10M	-676.70M	-1.15B	-969.30M	-827.50M

Partners Group Holding AG Technical Analysis

Technical Analysis Sentiment

Negative

Last Price1098.50

Price Trends

50DMA

1246.55

Negative

100DMA

1278.84

Negative

200DMA

1246.19

Negative

Market Momentum

MACD

-54.73

Negative

RSI

43.85

Neutral

STOCH

78.21

Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:PGHN, the sentiment is Negative. The current price of 1098.5 is below the 20-day moving average (MA) of 1106.50, below the 50-day MA of 1246.55, and below the 200-day MA of 1246.19, indicating a bearish trend. The MACD of -54.73 indicates Negative momentum. The RSI at 43.85 is Neutral, neither overbought nor oversold. The STOCH value of 78.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CH:PGHN.

Partners Group Holding AG Peers Comparison

Overall Rating

UnderperformOutperform

Sector (63)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PGHN	71 Outperform	CHF28.91B	24.99		3.60%	9.45%	12.15%
BAER	66 Neutral	CHF10.26B	10.38		5.03%	7.69%	126.15%
VONN	63 Neutral	CHF3.22B	11.90	12.22%	4.95%	9.24%	―
Sector *	63 Neutral	$12.32B	9.52	7.89%	79.24%	12.74%	-4.55%
EFGN	62 Neutral	$3.75B	11.82	13.89%	4.78%	11.14%	7.22%
BALN	61 Neutral	CHF7.90B	20.64		4.03%	-4.03%	60.24%

* Financial Sector Average

Performance Comparison

CH:PGHN

Partners Group Holding AG

1,098.50

-63.84

-5.49%

CH:BALN

Baloise Holding AG

184.20

46.10

33.38%

CH:BAER

Julius Baer Group Ltd

52.02

5.04

10.73%

CH:EFGN

EFG International AG

12.02

1.69

16.39%

CH:VONN

Vontobel Holding AG

57.30

7.82

15.82%

Partners Group Holding AG Earnings Call Summary

Earnings Call Date: Mar 11, 2025 | % Change Since: -14.98% | Next Earnings Date: Sep 2, 2025

Earnings Call Sentiment Positive

The earnings call reflected strong financial performance with significant growth in performance fees, investment activity, and U.S. market penetration. Despite slight pressure on management fee margins and challenges in the real estate sector, the overall sentiment remains positive due to robust operational results and strategic growth initiatives.

Highlights

Significant Increase in Performance Fees

Performance fees reached CHF511 million, up 38% from the prior year, contributing 24% of total revenues. This was largely driven by private equity and infrastructure, which contributed approximately 89% of the performance fees.

Strong Growth in Investment Activity

Investment activity grew by 66% to $22 billion, and realization activity was up 53% to $18 billion. Fundraising increased by 18% to $22 billion, with bespoke solutions accounting for 78% of the fundraising.

Record U.S. Market Growth

U.S. fundraising increased by more than 50%, with the U.S. now accounting for 24% of the total mix, up 8 points since the U.S. push began 5 years ago.

Stable EBITDA Margin

The EBITDA margin remained stable at approximately 63%, with a proposed dividend increase to CHF42 per share, reflecting confidence in business strength.

Lowlights

Pressure on Management Fee Margins

Management fees grew by only 3% in 2024, slightly below the 4% growth in average AUM, due to currency impacts. The management fee margin decreased slightly.

Challenges in Real Estate Performance

Real estate was the lowest contributor to performance fees, with the industry continuing to be in a state of transition.

Currency Impact on Financial Performance

The strengthening Swiss franc had a negative translation effect on the EBITDA margin of approximately 0.3 percentage points.

Company Guidance

During the call, Partners Group provided detailed guidance on several key metrics for fiscal year 2024 and beyond. Management fees were reported at CHF1.6 billion, consistent with a management fee margin of 1.25% and representing a stable portion of their business at 24% of total revenues. Performance fees were notably up by 38% from the previous year, reaching CHF511 million, and are expected to increase as a percentage of revenue from 20% to 30% in 2025, and potentially between 25% and 40% by 2026 and beyond. The EBITDA margin remained strong at around 63%, while the firm achieved a profit of CHF1.1 billion, marking a 12% increase. The firm proposed a dividend of CHF42 per share, reflecting an 8% rise. Additionally, the investment activity grew significantly by 66% to $22 billion, with realization activity up 53% to $18 billion. The U.S. market contributed 33% of inflows, and total U.S. fundraising increased by more than 50%. Looking forward, the company expects new client assets to range between $26 billion and $31 billion for 2025, maintaining a positive outlook based on a robust fundraising pipeline.

Partners Group Holding AG Corporate Events

Generali and Partners Group Launch Private Credit Secondaries Fund

Apr 22, 2025

Generali Investments, in collaboration with Partners Group, has launched its inaugural Private Credit Secondaries Fund, targeting professional investors in Europe, the Middle East, and Asia. The fund aims to capture market share in the rapidly growing private credit secondaries space by leveraging Generali’s origination and underwriting strengths and Partners Group’s expertise in private credit markets. This strategic collaboration is expected to enhance origination capacity, underwriting capabilities, and client reporting support, while also expanding fundraising efforts. The partnership aims to capitalize on the rising private credit assets under management, estimated at $1.6 trillion, and the increasing use of the secondary market as a portfolio management tool by LPs.

Partners Group Invests EUR 120 Million in Spain’s Largest Organic Waste Manager

Apr 3, 2025

Partners Group has announced a significant investment of over EUR 120 million in Gestcompost, Spain’s largest organic waste manager, through its infrastructure secondaries business. This investment will support Gestcompost’s expansion in biomethane production, benefiting from thematic tailwinds such as higher landfill costs and energy transition targets. The move positions Partners Group as a key player in the European circular economy, with Gestcompost set to leverage its market-leading position to drive growth and contribute to emissions reduction goals.

Partners Group Acquires 1.9 GW Natural Gas Power Portfolio in California

Mar 18, 2025

Partners Group has agreed to acquire a 1.9 GW portfolio of natural gas power plants in California, operated by Middle River Power, for USD 2.2 billion. This acquisition aligns with the firm’s strategy to enhance grid reliability and decarbonization through the development of Hybrid Energy Centers, leveraging battery energy storage systems. The transaction is expected to strengthen Partners Group’s position in the energy transition sector, offering long-term value creation opportunities and supporting California’s clean energy goals.

Partners Group Sells Greenlink Interconnector for Over EUR 1 Billion

Mar 17, 2025

Partners Group has agreed to sell Greenlink, a 504 MW subsea electricity interconnector between Great Britain and Ireland, to Baltic Cable AB and Equitix for over EUR 1 billion. Greenlink, which can power approximately 380,000 homes, plays a crucial role in integrating renewable energy and enhancing energy security in the region. The project, completed on time in early 2025, is the first project-financed interconnector in Europe and supports the energy transition by improving grid flexibility and market competition.

Partners Group Unveils Ambitious Growth Strategy at Capital Markets Day

Mar 12, 2025

Partners Group, a major player in the private markets industry, announced its strategy to significantly expand its assets under management by focusing on three strategic pillars: enhancing its transformational investing platform, growing its bespoke mandate and evergreen fund business, and adding high-performance investment engines. The firm aims to triple its assets under management to over USD 450 billion by 2033, positioning itself as a leader in various asset classes such as private equity, private credit, infrastructure, real estate, and royalties. This strategy reflects the firm’s response to the evolving private markets landscape, characterized by democratization of access and industry consolidation, and aims to capture new investment opportunities while delivering attractive returns for investors and shareholders.

Partners Group Reports Strong Financial Performance and Dividend Increase for 2024

Mar 11, 2025

Partners Group reported a 12% increase in profit to CHF 1.13 billion for 2024, driven by a 38% rise in performance fees due to successful exits and strong portfolio performance. The company proposed an 8% increase in dividends to CHF 42.00 per share, reflecting its robust financial health and strategic growth initiatives, particularly in North America and private wealth business expansion.

Glossary

OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.

NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.

UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.