Pershing Square Inc.

$42.74

+1.50%

2026-08-27 12:04:09 EDT+$0.63

Financial Services

Asset Management

NYSE

Active Trading

Pershing Square Inc., an alternative asset management firm, was established in 2024 and is headquartered in New York, New York. This entity ...

Price Action of PS

$42.74

+1.50%+$0.63

High—

Low—

52W High-21.9%

Rel. vol—

Interval

Range3.9h

Volume—SMA5SMA10

—

Pershing Square Inc. is a newly formed alternative asset management company, created in 2024 as part of the Pershing Square ecosystem founded by famed investor Bill Ackman. Headquartered in New York, the firm is listed on the New York Stock Exchange under the ticker 'PS' and serves as a permanent ...Pershing Square Inc. is a newly formed alternative asset management company, created in 2024 as part of the Pershing Square ecosystem founded by famed investor Bill Ackman. Headquartered in New York, the firm is listed on the New York Stock Exchange under the ticker 'PS' and serves as a permanent capital vehicle, aiming to generate predictable and recurring fee revenues. With a small but experienced team of 44 employees, the company manages a market capitalization of approximately $15.15 billion as of the latest data. The core business involves investing in large-capitalization equities and maintaining a concentrated portfolio, following a strategy similar to its parent firm. Financially, Pershing Square Inc. maintains a strong balance sheet with minimal debt, evidenced by a debt-to-equity ratio of just 0.067 and a current ratio of zero, indicating a focus on long-term investments rather than short-term liquidity. Despite negative earnings in the trailing twelve months, the firm exhibits solid operational metrics, with a return on equity of 4.9% and a net profit margin of 8.2%. The company generates revenue primarily through performance fees and management fees, with revenue per share at $1.79. As a newly listed entity, it has an IPO date of April 30, 2026, and is actively trading at approximately $37.88 per share, within a 52-week range of $22.01 to $54.94. Pershing Square Inc. is led by CEO William Ackman, a prominent activist investor, and is part of a broader organization that includes Pershing Square Capital Management and Pershing Square Holdings. The company's future prospects are tied to its ability to replicate the successful track record of its affiliates in delivering superior shareholder returns.ExpandCollapse

Founded

2024

Employees

CEO

William Albert Ackman

Full Name

Pershing Square Inc.

Sector

Financial Services

Industry

Asset Management

ROE

1.30%

Market Cap

$17.10B

Current Ratio

0.49

WACC

46.96%

ROIC

-644.48%

Contact Information

https://www.pershingsquareinc.com

212-813-3700

787 Eleventh Avenue, New York, NY 10019

Key Metrics of PS

Snapshot

Latest / TTM · 2 periods

Market Cap

$17.10B

ROCE

2.7%

EV / EBITDA

-201.82x

+16.0% YoY

FCF Yield

1.0%

+2.4% YoY

Cash Conversion Cycle

-4.2d

Current Ratio

0.49

Quick take

TTM —

Current ratio below 1.0

Negative working capital

Financial Highlights of PS

Profitability trend

Latest / TTM · 2 periods

Gross Margin

22.0%

Net Margin

2.1%

P/E Ratio

925.25x

n/a

Debt / Equity

0.19

n/a

Current Ratio

0.49

Dividend Yield

0.3%

Understanding

TTM —

Current ratio below 1.0

Calendar of PS

Upcoming

Dec 31, 2026
FY2026 · Estimated annual results
Est. EPS $0.53 · Revenue $306.69M · 4 analysts
Sep 30, 2027
Q3 FY2027 · Estimated results
Est. EPS $0.18 · Revenue $105.77M · 1 analysts
Dec 30, 2027
Q4 FY2027 · Estimated results
Est. EPS $0.45 · Revenue $235.78M · 1 analysts
Dec 31, 2027
FY2027 · Estimated annual results
Est. EPS $0.97 · Revenue $548.16M · 4 analysts

Recent history

Aug 13, 2026
Q2 FY2026 · Results reported
EPS $-0.11 · Revenue $54.18M
View filing
Jul 21, 2026
Dividend payment
$0.00 per share
Jul 13, 2026
Ex-dividend date
$0.00 per share
Jun 4, 2026
Q1 FY2026 · Results reported
EPS $-0.37 · Revenue $57.51M
View filing
Apr 30, 2026
IPO
Dec 31, 2025
FY2025 · Annual results
EPS $-0.53 · Revenue $750.01M

Financial Statements of PS

5Y Trend (Revenue, Earnings, FCF)

Metric	Latest	YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.	QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).	$750.0M	—	-5.8%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.	$-210.1M	—	+71.1%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.	+94.6%	—	-201.6%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).	-47.2%	—	-1444.9%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.	-28.0%	—	+69.3%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.	$-134.7M	—	-71.1%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.	-18.0%	—	-69.3%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.	16.2%	—	+176.4%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.	7.02x	—	—
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.	$2.8B	—	+83.0%

Actual vs Estimate

A Dec 31Q Sep 30

Metric	Annual (A vs E)	Annual Surprise	Quarter (A vs E)	Quarter Surprise
EPS Surprise	-0.53 vs 0.21	-357.1%	-0.11 vs 0.18	-161.1%
Revenue Surprise	$750.0M vs $767.7M	-2.3%	$54.2M vs $105.8M	-48.8%

Earnings Call Transcript of PS

1 transcript segments

Q2 2026

Unknown Speaker

Operator: Good day, and welcome to the Pershing Square 2026 Second Quarter Earnings Call. Today's call is being recorded. [Operator Instructions] It is now my pleasure to turn the conference over to Jill Chapman, Head of Corporate Investor Relations for Pershing Square. Jill Chapman: Thank you, Tara. Good morning, everyone, and welcome to Pershing's Second Quarter 2026 Earnings Call. Joining me today are CEO and Chairman, Bill Ackman; and CIO, Ryan Israel. Yesterday evening, we issued our earnings presentation and letter to shareholders, which are available on our website at pershingsquareinc.com under the Investors section. We expect to file our 10-Q after market close today. Before we begin, I would like to draw your attention to the legal disclaimers at the end of our earnings presentation. Today's call may include forward-looking statements, which involve risks and uncertainties and are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements due to a variety of factors described under forward-looking statements in our earnings presentation and IPO prospectus filed on April 30 as updated by our most recently filed Form 10-Q. We do not undertake any obligation to update forward-looking statements. We may also reference non-GAAP financial measures in response to questions. Reconciliations are included in our earnings presentation available on our website. Finally, please note that nothing on this call constitutes a prospectus, an offer to sell or a solicitation of an offer to purchase our common stock or any interest or security in any Pershing Square fund or securities of any other person. Furthermore, nothing on this call constitutes investment advice or an invitation or inducement to deal in securities. And with that, I would like to turn the call over to Bill Ackman. William Ackman: Thank you, Jill. Welcome to our first earnings call for Pershing Square, Inc. One of the -- we spent the last 22 years listening to other people's conference calls, and we learned from that, which is why we've taken the approach of the night before releasing earnings, releasing a detailed letter kind of covering what we think are kind of the key issues and considerations for the quarter, leaving the full hour for questions from analysts, shareholders, other investors. We're going to follow this call with a Space on X. If you go to X, you can find the link. We're also posting that effectively, replaying it. You'll be able to listen to it afterwards. Expect that discussion to be more focused on the kind of the underlying investments in the Pershing Square portfolio, and then we're happy to take some of those questions now. But the emphasis on our underlying holdings, one of the points we tried to make in the letter, what's interesting about this company is that if we never raise another investment vehicle, we just sit with the three permanent capital vehicles we have today. This …

Leadership Team of PS

5 executives

Name	Title	Compensation	Gender	Year Born	Status
William Albert Ackman	CEO & Chairman of the Board of Pershing Square Holdco GP, LLC and Founder	USD 142,775,160	Male	1966	Active
Ryan Michael Israel	Chief Investment Officer & Director of Pershing Square Holdco GP, LLC	USD 44,045,910	Male	1985	Active
Ben Hakim	President & Executive Director of Pershing Square Holdco GP, LLC	USD 17,771,413	Male	—	Active
Halit Coussin	Chief Legal Officer, Chief Compliance Officer & Director of Pershing Square Holdco GP, LLC	—	Female	1973	Active
Michael Gonnella	Chief Financial Officer of Pershing Square Holdco GP, LLC	—	Male	1981	Active

Recent News of PS

Fool - Investing News8/26/2026Neutral

Bill Ackman Thinks This Factor Is Even More Important Than Valuation For Long-Term Investments

It's better to buy a wonderful business at a fair price than a fair business at a wonderful price.

Fool - Investing News8/25/2026Neutral

Billionaire Bill Ackman Has 10.5% of His $19.5 Billion Portfolio in Amazon. What's the Thesis Behind Pershing Square's Bet?

The high-profile investor believes the company is crushing it in two key areas of its business.

The Motley Fool8/23/2026Neutral

Bill Ackman Just Made a Major Overhaul to Pershing Square's Portfolio. Here Are the Biggest Changes.

Ackman has created two new sources of capital to invest in for Pershing Square. He exited several positions last quarter and used the proceeds to invest in new opportunities.

Fool - Investing News8/21/2026Neutral

Bill Ackman Is Launching a New Way to Invest in Pre-IPO Companies

The next fund from Pershing Square could be complementary to its current options.

Zacks Investment Research8/19/2026Neutral

AMP or PS: Which Is the Better Value Stock Right Now?

Investors looking for stocks in the Financial - Investment Management sector might want to consider either Ameriprise Financial Services (AMP) or Pershing Square (PS). But which of these two companies is the best option for those looking for undervalued stocks?

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Pershing Square Inc.

Contact Information

Upcoming

FY2026 · Estimated annual results

Q3 FY2027 · Estimated results

Q4 FY2027 · Estimated results

FY2027 · Estimated annual results

Recent history

Q2 FY2026 · Results reported

Dividend payment

Ex-dividend date

Q1 FY2026 · Results reported

IPO

FY2025 · Annual results

Bill Ackman Thinks This Factor Is Even More Important Than Valuation For Long-Term Investments

Billionaire Bill Ackman Has 10.5% of His $19.5 Billion Portfolio in Amazon. What's the Thesis Behind Pershing Square's Bet?

Bill Ackman Just Made a Major Overhaul to Pershing Square's Portfolio. Here Are the Biggest Changes.

Bill Ackman Is Launching a New Way to Invest in Pre-IPO Companies

AMP or PS: Which Is the Better Value Stock Right Now?

Upcoming

FY2026 · Estimated annual results

Q3 FY2027 · Estimated results

Q4 FY2027 · Estimated results

FY2027 · Estimated annual results

Recent history

Q2 FY2026 · Results reported

Dividend payment

Ex-dividend date

Q1 FY2026 · Results reported

IPO

FY2025 · Annual results

Bill Ackman Thinks This Factor Is Even More Important Than Valuation For Long-Term Investments

Billionaire Bill Ackman Has 10.5% of His $19.5 Billion Portfolio in Amazon. What's the Thesis Behind Pershing Square's Bet?

Bill Ackman Just Made a Major Overhaul to Pershing Square's Portfolio. Here Are the Biggest Changes.

Bill Ackman Is Launching a New Way to Invest in Pre-IPO Companies

AMP or PS: Which Is the Better Value Stock Right Now?