Stock

Partners Group Holding AG

PGHN.SW
76
Asset Management · Financial Services
Also trades as: 0QOQ.L GBP 5.91 (-2.89%)
Price
CHF 591.40
-18.00 (-2.95%)
Market Cap
CHF 15.25B
Exchange
SIX Swiss Exchange
Winston Score
76
Winston is happy
A high-quality business with solid fundamentals.
Data as of Oct 8, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Exceptional
30/30
Growth
Mixed
8/20
Cash Flow
Exceptional
10/10
Stability
Strong
7/10
Valuation
Good
6/10
Ownership
Good
10/15
Dividends
Exceptional
5/5

76 of 100 counted points = Winston Score 76.

Share count falling — buybacks

−2.0% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 26.6M (2021) → 26.0M (2025)

§Winston Score History

The full picture

Partners Group is a Swiss investment firm that manages money on behalf of large institutions — like pension funds, insurance companies, and sovereign wealth funds. It specializes in private markets, meaning it invests in companies, real estate, infrastructure, and debt that are not traded on public stock exchanges. It is one of the largest private markets asset managers in the world, headquartered in Baar, Switzerland.

The company makes money by charging management fees on the assets it oversees, plus performance fees when investments deliver strong returns. It operates globally, with offices across Europe, the Americas, and Asia-Pacific, and manages roughly $150 billion in assets. Its moat comes from long-standing client relationships, a strong track record, and the fact that private markets investing requires deep expertise and scale that is hard to replicate quickly. The key risk is that rising interest rates or a slowdown in deal activity can reduce both new fundraising and the performance fees that make up a meaningful share of its revenue.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+9.2% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-12.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

CHF 0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

17.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

CHF 1.5B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Partners Group Holding AG is growing revenue at 9% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
82.2%
Premium pricing power — 82.2% gross margin
Profit after running costs
Operating Margin
52.5%
Excellent — 52.5% operating margin
Return on the money invested
ROCE
36.9%
Exceptional — 36.9% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth
Sales YoY
+20.7%
Fast-growing sales (+20.7% YoY)
Profit growth
EPS YoY
-0.7%
Earnings shrinking (-0.7% YoY)

Slight earnings drop. Typical near a cyclical low.

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash
Cash Conversion
130%
Turns 130% of profit into real cash
Spare cash per sale
FCF Margin
54.8%
Converts sales into free cash efficiently (54.8%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns
Debt / Equity
1.87
Elevated debt (1.87)
Covers its interest
Interest Cover
26.94x
Comfortably covers interest (26.9x)

Interest coverage above 8. Profits cover interest many times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit
P/E Ratio (TTM)
12.9x
Attractive valuation — P/E 12.9

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+0.3
GROWING
Earnings roughly flat

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend
Dividend Yield
7.11%
Healthy income — 7.11% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record
Dividend Growth
+51.9%
Dividend growing fast (51.9% YoY)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free
🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.
Start free trial