Who are Pershing Square's main competitors?

Named competitors: Berkshire Hathaway (BRK-B), Blackstone (BX), Third Point (private or unlisted), Trian Partners (private or unlisted), Icahn Enterprises (IEP), KKR (KKR). The cockpit's measured peer set (industry) also includes China Merchants Securities (6099.HK), Partners (PGHN.SW), Amundi (AMUN.PA), T. Rowe Price (TROW), CSC Financial (601066.SS), Principal Financial (PFG).

Is Pershing Square expensive compared with its peers?

On forward p/e it trades at 84.9× against a peer median of 12.3×, most expensive of 21 in its peer set.

How has Pershing Square stock performed?

Over six months to 6 Nov 2026 the shares returned +23.6% against +6.5% for the median peer.

← CockpitCompetitor Analysis › PS Pershing Square Inc.Open in the cockpit ↗

Pershing Square Inc.PSCompetitor analysis, valuation and peers

United States · USD·Financials›Investment Managers

Bill Ackman's newly public asset management firm, managing a concentrated portfolio via Pershing Square funds.

Momentum leader 90

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$20.6B

US dollars, full cap

Free float

21%

of shares outstanding

$/day

$15.8M

20-day average traded

Fwd P/E

84.9×

forward earnings

ROIC−WACC

n/a

WACC 19.7%

Hurdle

n/a

no reverse DCF

Next earnings

117 days

3 Mar 2027

Close · USD$51.45

1D+2.2%

1W+12.7%

1M-5.5%

3M+37.8%

6M+23.6%

YTDn/a

1Yn/a

ATR %7.1%

52w lowhigh14.8% off high

What Pershing Square does

Bill Ackman's newly public asset management firm, managing a concentrated portfolio via Pershing Square funds.

Earns fees for running outside investors' money in its funds, including a share of investment gains in some vehicles, with its own capital invested alongside. Founder Bill Ackman runs the firm and picks the concentrated portfolio, so the fee base is the capital in a small number of vehicles.

Products and services

Asset management fees (Pershing Square funds)
Pershing Square Holdings
Pershing Square USA (PSUS fund)

Customers

Institutional and retail investors in Pershing Squ

Where it sits in the supply chain

Financial services
Alternative/hedge fund asset management
Concentrated public equity investing

What could go right

Performance-fee income from strong fund returns
Asset growth via PSUS and future vehicles

What could go wrong

Performance/concentration risk in a small number of holdings
Key-person (Ackman) dependency

Moat: narrow (brand, process know-how). Bill Ackman's investing track record and public profile attract capital, but the model is easy to conceptually copy.

Headquarters: New York, New York, US · Founded: 2026 · Employees: 44

Named competitors

Berkshire Hathaway BRK-B
Blackstone BX
Third Point private or unlisted
Trian Partners private or unlisted
Icahn Enterprises IEP
KKR KKR
Apollo Global Management APO

Pershing Square at a glance

Size Pershing Square (PS) is a United States Financials company (Investment Managers) with a market value of $20.6B, the 488th largest of 3,117 United States companies the cockpit tracks. Shares closed at $51.45 on 6 Nov 2026.

Performance Over six months the shares gained 23.6%, against +6.5% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd highest of 21 in its peer set.

Growth Revenue grew 67.4% over the last twelve months (peer median +9.4%); the operating margin is 37.3% (peer median 30.5%).

Valuation It trades at 84.9× forward earnings against a peer median of 12.3× (most expensive of 21).

Short interest Short interest is 0.6% of the free float (15 Oct 2026).

Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: Pershing Square against the median of its 20 peers (local-currency closes).

Pershing Square financials

Reported figures in USD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023
Revenue	n/a	$763M	$455M	$513M
Revenue growth	—	+67%	-11%	—
Gross profit	n/a	$224M	$44.3M	$278M
EBITDA	n/a	$286M	-$16.9M	$245M
Net income	n/a	$250M	-$14.2M	$209M
Free cash flow	n/a	-$135M	$293M	$83.8M
Capital expenditure	n/a	$449,438	$1.56M	$17,785
Total debt	$297M	$77.5M	$81.1M	$159M

Quarterly statements and history in the cockpit →

Pershing Square competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Pershing Square is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Pershing Square is the large dot.

Pershing Square competitors and peer comparison

Head to head with its named competitors (PS vs BRK-B vs BX vs IEP)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
Pershing Square PS	$20.6B	+24%	+67%	37%	84.9×	n/a
Berkshire Hathaway BRK-B	$1.22T	+20%	+4%	16%	26.0×	n/a
Blackstone BX	$149B	-3%	+9%	57%	18.1×	n/a
Icahn Enterprises L.P IEP	$3.38B	-41%	+16%	-7%	9.5×	n/a
KKR & KKR	$86.6B	-6%	+32%	23%	11.4×	n/a
Apollo Global Management APO	$68.9B	-12%	+11%	11%	11.5×	n/a

How Pershing Square compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Pershing Square against its 20 peers (data as of 6 Nov 2026)
Measure	PS	Peer median	Rank in peer set
1-month return	-5.5%	+2.7%	4th lowest of 21
6-month return	+23.6%	+6.5%	2nd highest of 21
Distance from 52-week high	-14.8%	-15.4%	11th highest of 21
Revenue growth (TTM)	+67.4%	+9.4%	2nd highest of 21
Operating margin	37.3%	30.5%	6th highest of 21
Forward P/E	84.9×	12.3×	most expensive of 21

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Pershing Square PS	United States	$20.6B	+24%	+67%	37%	84.9×	n/a	n/a
China Merchants Securities 6099.HK	Hong Kong	$20.2B	-10%	+98%	34%	4.5×	n/a	n/a
Partners PGHN.SW	Switzerland	$21.3B	-24%	+9%	56%	16.7×	n/a	n/a
Amundi AMUN.PA	France	$21.7B	+9%	+1%	23%	11.9×	n/a	n/a
T. Rowe Price TROW	United States	$23.1B	+4%	+7%	36%	10.8×	n/a	n/a
CSC Financial 601066.SS	China	$23.4B	-3%	-2%	49%	14.2×	n/a	n/a
Principal Financial PFG	United States	$23.6B	+10%	+5%	15%	11.3×	n/a	n/a
TPG TPG	United States	$17.9B	+4%	+21%	17%	13.8×	n/a	n/a
Franklin Resources BEN	United States	$17.1B	+10%	+8%	15%	10.6×	n/a	n/a
CVC Capital Partners CVC.AS	Netherlands	$16.9B	+10%	+14%	57%	18.1×	n/a	n/a
Nomura 8604.T	Japan	$26.5B	+15%	+12%	12%	9.0×	n/a	n/a
Blue Owl Capital OWL	United States	$15.4B	-7%	+11%	17%	10.4×	n/a	n/a
ICICI Prudential Asset Management ICICIAMC.NS	India	$15.4B	-11%	+22%	73%	39.2×	n/a	n/a
DWS Group GmbH & Co. KGaA DWS.DE	Germany	$14.7B	+7%	+24%	37%	12.6×	n/a	n/a
Carlyle CG	United States	$14.1B	-22%	-44%	14%	10.2×	n/a	n/a
Ares Management ARES	United States	$30.0B	+7%	+7%	27%	20.5×	n/a	n/a
Guosen Securities 002736.SZ	China	$13.9B	-16%	-10%	34%	7.9×	n/a	n/a
Raymond James Financial RJF	United States	$31.3B	+6%	+10%	21%	11.4×	n/a	n/a
Northern Trust NTRS	United States	$31.3B	+8%	+7%	24%	13.7×	n/a	n/a
IGM Financial IGM.TO	Canada	$13.3B	+7%	+20%	36%	14.0×	n/a	n/a
iA Financial IAG.TO	Canada	$13.1B	+29%	+13%	59%	13.9×	n/a	n/a

Questions

Who are Pershing Square's main competitors?: Named competitors: Berkshire Hathaway (BRK-B), Blackstone (BX), Third Point (private or unlisted), Trian Partners (private or unlisted), Icahn Enterprises (IEP), KKR (KKR). The cockpit's measured peer set (industry) also includes China Merchants Securities (6099.HK), Partners (PGHN.SW), Amundi (AMUN.PA), T. Rowe Price (TROW), CSC Financial (601066.SS), Principal Financial (PFG).
Is Pershing Square expensive compared with its peers?: On forward p/e it trades at 84.9× against a peer median of 12.3×, most expensive of 21 in its peer set.
How has Pershing Square stock performed?: Over six months to 6 Nov 2026 the shares returned +23.6% against +6.5% for the median peer.