P10, Inc.

P10, Inc. (PX) Market Cap

P10, Inc. has a market capitalization of $829.7M.

Price: $7.55

▲ 0.16 (2.17%)

Market Cap: 829.75M

NYSE · time unavailable

CEO: Luke A. Sarsfield

Sector: Financial Services

Industry: Asset Management

IPO Date: 2021-10-21

Website: https://www.p10alts.com

P10, Inc. (PX) - Company Information

Market Cap: 829.75M|Sector: Financial Services

Company Profile

P10, Inc., together with its subsidiaries, operates as a multi-asset class private market solutions provider in the alternative asset management industry in the United States. The company offers private equity, venture capital, private credit, impact investing, and private credit services, as well as primary fund of funds, secondary investment, and direct and co-investments services. It also provides tax credit transaction and consulting services. The company was founded in 1992 and is headquartered in Dallas, Texas.

Analyst Sentiment

73%
Strong Buy

From 8 Active Polls

1Y Forecast: $25.00

▲ +231.1% Potential Upside

Consensus Target Metrics

Low Bound

$25

Median

$25

High Bound

$25

Average

$25

Price & Moving Averages

Loading chart...

🎯 Wall Street Analyst Intelligence Report

1-Year structural target targets, chart projections, and sentiment maps.

Average 1Y Target
$25.00
▲ +231.13% Upside
Low Target
$25.00
231% Risk
Median Target
$25.00
231% Mid
High Target
$25.00
231% Max
Consensus
Buy
4 / 8 Buys

Consensus Trend Projection

Trailing closures vs. 12-month metrics map.

Analyst Vote Distribution

Aggregate institutional coverage sentiment weights.

valuation & financial ratiosdetailed financials

📊 Historical Valuation Multiples

Real-time Trailing Twelve Month (TTM) momentum side-by-side with discrete quarterly metrics.

Fiscal QuarterTTMQ1 2026Q4 2025Q3 2025Q2 2025Q1 2025
Period EndingTrailing 12MMar 31, 2026Dec 31, 2025Sep 30, 2025Jun 30, 2025Mar 31, 2025
Market Cap ($M)8307951,1531,1481,1591,158
Enterprise Value ($M)1,0111,1691,5271,5321,5291,466
Price to Earnings Ratio (P/E)37.9823.4130.49133.7685.6364.01
Price/Earnings-to-Growth Ratio (PEG)——0.0030.1611.50—
Price to Sales Ratio (P/S)2.0910.6014.2215.1215.9417.11
Price to Book Ratio (P/B)2.542.263.283.333.433.46
Price to Free Cash Flow Ratio (P/FCF)15.6347.5452.19-119.63100.50-188.89
Enterprise Value to Sales (EV/Sales)—15.5818.8420.1721.0321.67
Enterprise Value to EBITDA (EV/EBITDA)9.7444.9437.1486.3280.7285.91
Debt to Equity Ratio3.601.151.151.231.191.14

📘 Full Research Report

ℹ️

AI-Generated Research: This report is for informational purposes only.

📘 P10 INC CLASS A (PX) — Investment Overview

🧩 Business Model Overview

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💰 Revenue Streams & Monetisation Model

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🧠 Competitive Advantages & Market Positioning

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🚀 Multi-Year Growth Drivers

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⚠ AI-generated — informational only. Validate using filings before investing.

📰 Market News & Coverage

15 Stories Available

Real-time institutional reporting and market updates for PX.

newsfilecorp.com•2026-06-01

Pelangio Exploration Reports Interim Drill Results from the Manfo Project, Ghana; Drilling to Transition to Dankran with Further Drilling Planned at Manfo

Toronto, Ontario--(Newsfile Corp. - June 1, 2026) - Pelangio Exploration Inc. (TSXV: PX) (OTC Pink: PGXPF) ("Pelangio" or the "Company") reports interim results from its ongoing drilling program on its 100% owned Manfo Project and provides an update on its exploration programs, including a planned transition to drilling to the Dankran property upon completion of this phase of the Manfo drilling program and the planned Controlled Source Electromagnetic ("CSEM") surveys to be conducted at both Manfo and Obuasi. The updated 2,900-metre resource expansion drilling program at the Pokukrom East and West deposits is approximately 72% complete, with seven of fourteen planned holes completed and two additional holes nearing completion.

newsfilecorp.com•2026-02-27

Pelangio Exploration Commissions a Deep-Penetrating CSEM Survey for the Obuasi and Manfo Projects, Ghana

Toronto, Ontario--(Newsfile Corp. - February 27, 2026) - Pelangio Exploration Inc. (TSXV: PX) (OTC Pink: PGXPF) ("Pelangio" or the "Company") is pleased to announce that a controlled-source electromagnetic ("CSEM") survey has been commissioned for the Obuasi and Manfo projects to be conducted by SEMS Exploration Services of Ghana. CSEM surveys will be conducted on Pelangio's Obuasi and Manfo projects to delineate targets up to 1+ kilometre depth below prospective exploration target areas.

prnewswire.com•2026-02-05

Stellus Capital Management to Become Part of Alternative Asset Manager P10

Transaction to provide complementary resources, expertise, and relationships to enhance Stellus' existing platform Stellus investment processes, strategy, and operations to remain unchanged HOUSTON, Feb. 5, 2026 /PRNewswire/ -- Stellus Capital Management ("Stellus" or the "Company), a U.S. direct lender with $3.8 billion of AUM specializing in senior secured loans in the lower-middle market, announced that it has entered into a definitive agreement to be acquired by P10, Inc. (NYSE: PX) ("P10"), a leading private markets solutions provider that similarly serves the lower-middle market. Stellus will continue to be managed by its current partners who will retain control of its day-to-day operations, including investment decisions and investment committee processes.

globenewswire.com•2026-02-05

P10 Expands into Lower-Middle Market Direct Lending with Acquisition of Stellus Capital Management

Established direct lender with a 20+ year track record will add approximately $3.8 billion in assets under management Lower-middle market focus a natural fit with existing P10 strategies

globenewswire.com•2026-01-30

Bonaccord Capital Partners Named 2025 Middle Market GP Stakes Firm of the Year by GP Stakes News

DALLAS, Jan. 30, 2026 (GLOBE NEWSWIRE) -- P10, Inc.  (NYSE: PX) (the “Company”), a leading private markets solutions provider, and Bonaccord Capital Partners (“Bonaccord”), a private equity firm focused on providing growth capital and strategic support to middle-market private markets sponsors, are pleased to announce that Bonaccord has been named 2025 Middle Market GP Stakes Firm of the Year by GP Stakes News.

globenewswire.com•2026-01-29

P10 and Bonaccord Capital Partners Team with CAIS to Expand Wealth Channel Access to GP Stakes Solutions

DALLAS, Jan. 29, 2026 (GLOBE NEWSWIRE) -- P10, Inc. (NYSE: PX), (“P10” or the “Company”), and Bonaccord Capital Partners (“Bonaccord”), today announced a new collaboration with CAIS, the leading alternative investment platform for financial advisors. Bonaccord is a private equity firm focused on providing growth capital and strategic support to middle-market private markets sponsors, and this collaboration with CAIS provides advisors with expanded access to GP stakes solutions.

newsfilecorp.com•2026-01-26

Pelangio Refiles Technical Report for Manfo Gold Project

Toronto, Ontario--(Newsfile Corp. - January 26, 2026) - Pelangio Exploration Inc. (TSXV: PX) ("Pelangio" or the "Company") announces that, as a result of an issue oriented continuous disclosure review by staff of the Ontario Securities Commission ("OSC"), the Company has amended and refiled its technical report for the Manfo Gold Project, Ghana (the "Technical Report"). As a consequence of the OSC Review, the Company amended the Technical Report to bring it into conformity with certain requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").

globenewswire.com•2026-01-22

P10 Schedules Fourth Quarter and Full Year 2025 Earnings Release for Thursday, February 12, 2026

DALLAS, Jan. 22, 2026 (GLOBE NEWSWIRE) -- P10, Inc.  (NYSE: PX) (the “Company”), a leading private markets solutions provider, today announced it will release its fourth quarter and full year 2025 results on Thursday, February 12, 2026, before U.S. markets open. The upcoming financial results will mark the Company's inaugural quarterly report and conference call as Ridgepost Capital, Inc., after the new name becomes effective on February 11, 2026.

globenewswire.com•2026-01-12

P10 Announces Upcoming Name Change

DALLAS, Jan. 12, 2026 (GLOBE NEWSWIRE) -- P10, Inc.  (NYSE: PX) (the “Company”), a leading private markets solutions provider, today announced it will change its name to Ridgepost Capital, Inc. The name change will become effective on February 11, 2026. Starting that day, the Company's stock will trade on the New York Stock Exchange and NYSE Texas under the new ticker symbol “RPC.

globenewswire.com•2026-01-06

P10 Opens New Office in Dubai, Strengthening Capabilities in the Middle East Region

DALLAS, Jan. 06, 2026 (GLOBE NEWSWIRE) -- P10, Inc. (NYSE: PX), (“P10” or the “Company”), a leading private markets solutions provider, today announced the opening of a new office in Dubai, located within the Dubai International Financial Centre (“DIFC”). The office is licensed by the Dubai Financial Services Authority (“DFSA”) and deepens P10's long-term commitment to the United Arab Emirates (UAE), supporting client partnerships across the Middle East. Through the opening of the new office within the DIFC, P10 and its clients will benefit from the advantages provided by working within the DFSA's regulatory framework.

newsfilecorp.com•2025-12-23

Pelangio Exploration Announces Receipt of $1,395,933 in Proceeds from Warrant Exercise

Toronto, Ontario--(Newsfile Corp. - December 23, 2025) - Pelangio Exploration Inc. (TSXV: PX) (OTC Pink: PGXPF) ("Pelangio" or the "Company") announces that it has received gross proceeds of $1,395,933.35 from the exercise of 27,918,667 common share purchase warrants at an exercise price of $0.05 per warrant. The Company issued 27,918,667 common shares upon exercise of these warrants.

globenewswire.com•2025-12-18

RCP Advisors Recognized by Pensions & Investments' Best Places to Work in Money Management and Crain's 2025 Best Places to Work in Chicago

DALLAS, Dec. 18, 2025 (GLOBE NEWSWIRE) -- P10, Inc.  (NYSE: PX) (the “Company”), a leading private markets solutions provider, and RCP Advisors (“RCP”), a private equity firm specializing in North American small buyout strategies, are pleased to announce that RCP was recognized in Pensions & Investments' 2025 Best Places to Work in Money Management awards. The 14th annual survey and recognition program is dedicated to identifying and recognizing the best employers in the money management industry.

globenewswire.com•2025-12-15

Hark Capital provides $57.5 million NAV facility to Insignia Capital Group

NEW YORK, Dec. 15, 2025 (GLOBE NEWSWIRE) -- Hark Capital, through its managed funds, today announced the closing of a $57.5 million NAV facility to fund investment activity for Insignia Capital Group, a middle-market private equity firm focused on investments in North American companies within the business services and consumer products industries. The proceeds from the facility will be used to finance a new platform investment and provide a bridge to Insignia's third flagship fund.

seekingalpha.com•2025-11-06

P10, Inc. (PX) Q3 2025 Earnings Call Transcript

P10, Inc. ( PX ) Q3 2025 Earnings Call November 6, 2025 8:30 AM EST Company Participants Mark Hood - Executive VP of Operations & Chief Administrative Officer Luke A. Sarsfield - Chairman of the Board, President & CEO Amanda Coussens - Executive VP & CFO Conference Call Participants Michael Cyprys - Morgan Stanley, Research Division Benjamin Budish - Barclays Bank PLC, Research Division Presentation Operator Hello, and welcome to the P10 Third Quarter 2025 Conference Call.

zacks.com•2025-11-06

How Much Upside is Left in P10 (PX)? Wall Street Analysts Think 46.5%

The consensus price target hints at a 46.5% upside potential for P10 (PX). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

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📊 AI Financial Analysis

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Earnings Data: Q Ending 2026-03-31

"PX reported Q1’26 revenue of $75.0M and net income of $17.7M (EPS $0.08). Relative to Q1’25, revenue was up 10.8% (from $67.7M) while net income rose 292.5% (from $4.5M). On a QoQ basis, revenue declined 14.4% versus Q4’25 ($8.76B, likely non-comparable reporting), while net income increased 1.2% (from $1.53B in Q4’25). Over the most comparable quarters (Q1–Q3’25), margins generally improved into mid-year: gross margin increased from 45.2% (Q1’25) to 55.8% (Q2’25) before easing to 44.3% (Q3’25); Q1’26 gross margin improved to 48.7%. Net margin expanded materially to 23.6% in Q1’26 from 6.7% in Q1’25, indicating profitability normalization upward. Cash flow remains positive in the latest quarter: operating cash flow was $17.1M and free cash flow $16.7M. The company continued shareholder distributions via buybacks ($6.0M) and dividends ($4.1M), with a modest net cash increase to $29.0M at quarter-end. Balance sheet resilience is moderate: total assets were $910M with $403M equity and net cash (net debt -$29M). Price/return data is not available (marketPerformance fields are undefined), so total shareholder return (price gain + yield) cannot be reliably scored from the provided inputs."

Revenue Growth

Positive

QoQ comparisons are distorted by Q4’25 revenue ($8.76B). On a like-for-like basis, Q1’26 revenue was +10.8% YoY (to $75.0M).

Profitability

Good

Net income surged +292.5% YoY (to $17.7M) and net margin expanded to 23.6% from 6.7% in Q1’25. Gross margin improved to 48.7%.

Cash Flow Quality

Positive

Q1’26 operating cash flow was $17.1M and free cash flow $16.7M. Shareholder returns via buybacks ($6.0M) and dividends ($4.1M) continue alongside positive FCF.

Leverage & Balance Sheet

Neutral

Equity was $403M with total assets of $910M. The company had net cash in Q1’26 (net debt -$29M), indicating resilience, though equity was lower than Q4’25.

Shareholder Returns

Caution

Buybacks and dividends are present, but marketPerformance/price momentum is unavailable (1y_change undefined), so total return cannot be fully credited.

Analyst Sentiment & Valuation

Positive

Consensus price target is $25 versus current price shown as $0 in inputs, so valuation context is unreliable; however target implies upside if current pricing were available.

Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.

RevenueEarningsP/E RatioSharesDebtMargin %

Fundamentals Overview

Loading fundamentals overview...

PX reported a strong Q1 2026 with fee-paying AUM rising to ~$31B (+18% YoY) and record fundraising/deployment of ~$2B, driven largely by TrueBridge (~$1B) and GP stakes activation at Bonaccord (~$872M). Operating metrics matched guidance: core fee rate was 97 bps in Q1 (97 bps excluding catch-ups) and 103 bps LTM, with full-year 2026 core fee rate guidance reiterated at 103 bps (excluding Stellus). FRE margin was ~44%, consistent with expectations, and management guided to mid-40s FRE margin for 2026 and near-50% over time (ex-acquisitions). The Stellus acquisition (midyear 2026 close) is positioned as a complementary lower middle market direct lending entry, with stated tax savings of ~$2M annually and described credit/technology exposure limits (1.1% default rate; SaaS/software <8%). While industry headlines reference redemption/valuation stress, management claims limited exposure given product structure and investor base durability.

AI IconGrowth Catalysts

  • Fee-paying AUM crossed $30B for the first time; increased to ~$31B (+18% YoY)
  • Record Q1 fundraising and deployment totaling ~$2B, including ~$1B from TrueBridge venture capital activity
  • Private equity fundraising driven by fee activation for the next vintage of GP stakes flagship fund at Bonaccord (~$872M)
  • Core fee rate strength: 97 bps average in Q1 (excluding catch-up), 103 bps on an LTM basis; management expects 103 bps full-year 2026 (excluding Stellus)

Business Development

  • Stellus Capital Management acquisition agreement (announced February 2026), with expected midyear 2026 closing
  • Stellus private fund IV closed at ~$775M (vs ~$750M communicated), dry powder ~$450M
  • Stellus private BDC described: ~$400M gross assets (~15% of Stellus fee-paying AUM), launched 2021 with ~75% institutional seed investors

AI IconFinancial Highlights

  • Fee-related revenue ~$75M in Q1 (+11% YoY)
  • FRE margin ~44% in Q1, consistent with prior guidance; management expects FRE margin growth to mid-40s for 2026 and toward near 50% over the next few years (excluding acquisitions)
  • Core fee rate guidance: expect 103 bps for full-year 2026 excluding Stellus; seasonality expected to drive expansion in 2H
  • Cash tax rate: 2.5% in Q1; higher in Q2 due to two cash tax payments; management expects to fully utilize NOL and become a federal taxpayer in 2026
  • Stellus deal tax savings: ~$2M annual tax savings from additional amortization tied to $125M upfront cash consideration
  • Dividend: quarterly cash dividend $0.04/share payable June 18, 2026; record date May 29, 2026
  • Share repurchase: 701,000 shares repurchased in the quarter at avg $8.55; total ~$6M repurchased; ~$15M remaining on repurchase program

AI IconCapital Funding

  • Share repurchase program: ~$6M spent in Q1; ~$15M remaining
  • Dividend payout: $0.04/share (payable June 18, 2026; record May 29, 2026)
  • Post-Stellus capital allocation plan: allocate capital to debt paydown and share repurchase (timing tied to closing)

AI IconStrategy & Ops

  • Durability positioning: commingled funds/SMAs with long-dated locked-up capital; weighted average remaining duration ~7 years across strategies/vehicles
  • Investor-base quality: majority of fee-paying AUM from wealth/high net worth, pensions, and endowments/foundations; wealth/high net worth sourced ~1/3 of LP base but characterized as institutionally oriented via high net worth aggregators
  • Cross-marketing traction: >10% of capital raised since Investor Day stems from successful cross-marketing; ~$1.2B since June 2024 reference date
  • Automation/ops referenced indirectly via data advantage and strategy integration narrative; no specific automation metrics disclosed
  • M&A financing stance: management stated Ridgepost will not issue stock at recent trading levels in new M&A transactions

AI IconMarket Outlook

  • Next update: Q2 2026 results expected in August
  • Full-year 2026 core fee rate target: 103 bps (excluding Stellus acquisition impact)
  • FRE margin outlook: mid-40s for 2026; expansion to near 50% over the next few years (excluding acquisitions)
  • Stellus closing: expected midyear 2026

AI IconRisks & Headwinds

  • Industry backdrop: private credit valuation pressure and higher redemption requests tied to software/AI disruption concerns (management claims Ridgepost has very little exposure)
  • Concentration/technology exposure for Stellus: total exposure to SaaS/software <8%, with no single Stellus position >2% of overall portfolio
  • Stellus credit performance metrics cited as risk mitigants: 1.1% annualized default rate and 14 bps annualized loss rate since inception through year-end 2025
  • Tax execution timing risk: Q2 cash tax rate expected to rise due to two cash tax payments

Q&A: Analyst Interest

  • Private equity performance resilience: Management attributed strong PE performance to middle/lower-middle market focus, more selective deal sourcing from founder owners (primary, less intermediated), lower purchase price levels, and less leverage versus peers—plus portfolio insulation via co-investments/secondaries and a GP stakes engine publishing resilient results each quarter.
  • Differentiation vs “direct private equity” volatility: Management clarified differentiation as investing behind best-of-breed managers with portfolio skew toward co-investments, secondaries, and GP stakes, arguing this reduces the volatility typically seen in direct private equity peers. They also reiterated forward opportunism without citing peers’ metrics.
  • Portfolio underwriting and value creation drivers: Management emphasized ability to drive meaningful value creation through primary founder-owner transactions, buying at lower valuations and using less leverage, translating accretion benefits to both GP sponsors and Ridgepost. They reinforced that these structural factors protect performance as the opportunity set remains robust.

Sentiment: POSITIVE

Note: This summary was synthesized by AI from the PX Q1 2026 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.

📋 Official Regulatory 10-K / 10-Q SEC Filings

Direct authenticated documentation links to audited SEC database reports for PX.

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10-K
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SEC Filings (PX)

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