Saturday 17 October 2026 Export PIPR’s income statement to Excel — free account

Piper Sandler Companies

Piper Sandler Companies' revenue for fiscal 2025 (year ended December 2025) was $1.9 billion, up 24.5% from fiscal 2024. In the quarter to June 2026, revenue grew 24.9%, EPS grew 58.1% and free cash flow grew 58.8%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.

64.70 0.13 +0.20%

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Market cap: $4.6B
P/E: 14.2×
Fwd P/E: 16.3×
Dividend yield: 0.89%
F-score: 8/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 12.89

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	4	—	—	1	—	—	1	—	—	—	—	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 4,560.00

Revenue 2,115.25

Net Income 363.85

Free Cash Flow 487.00

Net Debt (304.23)

Current Ratio 1.41

Debt/Equity 0.00

P/E ratio 14.20

Fwd P/E 16.30

P/S ratio 2.07

P/B ratio 2.79

Past 5Y EPS Growth 42.21%

This Y EPS Growth 3.60%

Next Y EPS Growth 16.57%

Next Y revenue growth 9.77%

Next 5Y EPS Growth 10.60%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 30.02%

10-year low 10-year high

P/S against its own 10 years 75.30%

10-year low 10-year high

P/B against its own 10 years 79.76%

10-year low 10-year high

Dividends

Payout Ratio 0.13

Annual Dividend Rate 0.58

Annual Dividend Yield 0.89%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	2.18	1.25 0.20 0.20
2025	6.64	0.16 0.16 0.18 0.18
2024	0.63	0.15 0.15 0.16 0.16
2023	0.45	0.31 0.15 0.15 0.15
2022	0.60	0.15 0.15 0.15 0.15
2021	0.35	0.10 0.11 0.14 0.75
2020	0.22	0.19 0.05 0.08 0.09
2019	1.50	0.38 0.38 0.38 0.38
2018	1.13	2.00 0.38 0.38 0.38
2017	1.56	0.31 0.31 0.31 0.31 0.31

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	383	483	809	304
Receivables	212	174	54	205
Inventory	435	426	502	558
Other	—	—	—	—
	1,030	1,083	1,365	1,068

	2023	2024	2025	Q'26
Payables	1	6	22	2
ST’ Debt	—	—	—	—
Other	231	172	168	182
	842	840	1,010	759

Compound Annual Growth %

	10y	5y	3y
Sales	10.93%	8.93%	10.04%
Cash Flow	4.45%	(5.53%)	0.00%
Earnings	19.33%	47.35%	36.48%
Book Value	6.63%	11.32%	8.07%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	474	496	—	—	—
’25	357	397	479	666	1,899
’24	343	339	360	484	1,526
’23	298	289	289	472	1,348
’22	351	352	332	391	1,426
’21	429	509	446	648	2,031
’20	236	292	304	406	1,238

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(292)	36	—	—	—
’25	(207)	32	32	730	587
’24	(197)	266	80	164	313
’23	(202)	27	27	423	276
’22	(484)	34	65	161	(225)
’21	(264)	275	208	487	707
’20	238	137	158	247	780

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(294)	28	—	—	—
’25	(218)	18	26	726	552
’24	(198)	263	78	155	298
’23	(204)	24	24	421	266
’22	(489)	24	54	155	(256)
’21	(273)	269	207	483	687
’20	235	132	155	240	762

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.92	0.95	—	—	—
’25	0.91	0.60	0.85	1.60	3.96
’24	0.61	0.49	0.49	0.97	2.56
’23	0.37	0.06	0.06	0.75	1.24
’22	0.53	0.32	0.22	0.56	1.63
’21	0.75	1.03	0.67	1.64	4.11
’20	(0.27)	0.03	0.20	0.67	0.68

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	7.92	13.19	15.34	16.17	7.99	22.71	25.65	30.24	40.63	50.73	Analyst estimates 2026–2028 Powerpack
	High	19.45	21.86	24.95	20.64	26.54	48.40	46.75	45.72	87.95	93.69
People
People	Employees	1,315	1,301	1,262	1,565	1,511	1,665	1,790	1,725	1,805	1,858
	Revenue/emp, $m	0.57	0.63	0.59	0.53	0.82	1.22	0.80	0.78	0.85	1.02
Income, $m
Income, $m	Revenue	747	824	741	835	1,238	2,031	1,426	1,348	1,526	1,899
	Gross margin, %	98.98	99.01	98.92	98.78	98.47	99.19	98.58	98.52	98.70	98.97
	EBT	(31)	79	72	119	69	442	134	123	218	375
	EBT margin, %	(4.13)	9.63	9.78	14.26	5.54	21.74	9.43	9.09	14.31	19.72
	Net income	(14)	(60)	56	118	49	330	101	99	157	294
	Depreciation	119	144	24	24	59	52	40	48	44	53
Per share, $
Per share, $	Revenue	14.74	16.08	14.00	15.39	22.46	35.60	25.49	22.53	24.09	28.51
	Earnings	(0.43)	(1.27)	0.95	1.98	0.74	4.88	1.98	1.43	2.86	4.22
	Cash flow	(0.06)	3.96	9.63	1.25	14.15	12.39	(4.02)	4.61	4.94	8.80
	Capex	(0.22)	(0.16)	(0.30)	(0.12)	(0.32)	(0.36)	(0.55)	(0.17)	(0.24)	(0.52)
	Free cash flow	(0.28)	3.81	9.33	1.13	13.83	12.03	(4.57)	4.44	4.70	8.28
	Book value	16.10	14.47	13.80	14.88	16.80	21.50	22.42	21.72	22.35	23.75
	Shares, m	51	51	53	54	55	57	56	60	63	67
Valuation, ×
Valuation, ×	P/E	0.00	0.00	18.44	10.05	34.21	9.13	17.06	29.87	26.27	20.14
	P/S	1.23	1.33	1.18	1.30	1.12	1.25	1.32	1.90	3.11	2.98
	P/B	1.13	1.48	1.19	1.34	1.50	2.08	1.50	1.97	3.36	3.58
	EV/Sales	1.16	1.44	1.28	1.34	0.95	0.92	1.28	1.84	2.99	2.71
	EV/FCF	(60.88)	6.10	1.91	18.21	1.54	2.73	(7.12)	9.33	15.34	9.33
Cash, $m
Cash, $m	Operating cash flow	(3)	203	510	68	780	707	(225)	276	313	587
	Capex	(11)	(8)	(16)	(7)	(18)	(21)	(31)	(10)	(15)	(35)
	Free cash flow	(14)	195	494	61	762	687	(256)	266	298	552
Balance, $m
Balance, $m	Working capital	399	404	308	526	255	361	204	188	243	355
	Total debt	175	125	50	175	195	125	125	—	—	—
	Net debt	(55)	91	(50)	(75)	(313)	(846)	(241)	(383)	(483)	(809)
	Shareholders’ equity	816	741	730	807	926	1,227	1,254	1,299	1,416	1,583
Returns, %
Returns, %	ROA	(1.03)	(3.13)	3.38	7.21	2.23	12.21	4.66	3.96	8.24	11.60
	ROIC	(2.49)	6.25	8.97	12.37	10.87	79.49	10.25	10.28	16.67	33.78
	ROE	(2.66)	(8.33)	7.75	13.95	4.68	25.87	8.92	6.70	13.34	18.76

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
FIGR Figure Technology Solutions, Inc.	$6.2B	17.7×	30.4×	+112.66% (above 0%: growing)	−9.34% (below 0%: shrinking)	−119.20% (below 0%: shrinking)	87.18%	34.46%	Compare
RIOT Riot Platforms, Inc.	$5.8B	— (loss-making)	— (loss-making)	+13.89% (above 0%: growing)	n/m	+49.16% (above 0%: growing)	23.67%	(137.42%)	Compare
MKTX MarketAxess Holdings Inc.	$5.8B	19.4×	14.6×	−0.48% (below 0%: shrinking)	+1.05% (above 0%: growing)	−83.73% (below 0%: shrinking)	100.00%	41.15%	Compare
BGC BGC Group, Inc.	$5.4B	28.3×	7.4×	+7.85% (above 0%: growing)	+36.36% (above 0%: growing)	+164.18% (above 0%: growing)	97.58%	12.38%	Compare
MRX Marex Group PLC	$5.2B	16.7×	11.3×	+76.97% (above 0%: growing)	+94.87% (above 0%: growing)	+54.74% (above 0%: growing)	100.00%	21.10%	Compare
PIPR Piper Sandler Companies	$4.6B	14.2×	16.3×	+24.88% (above 0%: growing)	+58.10% (above 0%: growing)	+58.77% (above 0%: growing)	98.91%	20.27%
MC Moelis & Company	$4.5B	18.0×	21.5×	+12.05% (above 0%: growing)	+16.36% (above 0%: growing)	+8.25% (above 0%: growing)	100.00%	17.79%	Compare
LAZ Lazard, Inc.	$3.5B	16.3×	14.6×	+1.47% (above 0%: growing)	−94.64% (below 0%: shrinking)	+434.39% (above 0%: growing)	100.00%	4.66%	Compare
PJT PJT Partners Inc.	$3.5B	17.9×	23.7×	+19.52% (above 0%: growing)	+34.65% (above 0%: growing)	+26.53% (above 0%: growing)	33.04%	20.99%	Compare
Median of peers	$5.3B	17.9×	14.6×	+12.97%	+16.36%	+37.84%	98.79%	19.39%

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Piper Sandler Companies (PIPR) key facts

Strength: Piper Sandler Companies' revenue for fiscal 2025 (year ended December 2025) was $1.9 billion, up 24.5% from fiscal 2024.
Strength: Net income was $294.0 million, or $4.22 per share (basic), a net margin of 14.8%.
Piper Sandler Companies (PIPR) is a Capital Markets company in the Financial sector, listed on the New York Stock Exchange.
As of October 16, 2026, PIPR traded at $64.70, a market capitalization of $4.6 billion.
At that price the stock trades at 14.2× trailing-twelve-month earnings and 2.1× sales; its P/E is higher than 30% of its own readings over the past ten years.
Piper Sandler Companies pays an annual dividend of $0.58 per share, a yield of 0.89%, with a payout ratio of 13.3%.
Return on equity was 18.8% and debt-to-equity 0.00.
Its Piotroski F-score is 8 out of 9 for fiscal 2025.