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Piper Sandler Companies PIPR

Financial — Capital Markets
Cash Flow Champion (3y)
Growth Flags show if company had growth for consecutive years

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Insider Decisions

Total sells
12.89
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — 4 — — 1 — — 1 — — — —
Insider Ownership
0.00%

Capital & Financial Ratios

Market Cap
5,090.00
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
15.89
P/S ratio
2.32
P/B ratio
3.13
Past 5Y EPS Growth
13.97%
This Y EPS Growth
4.28%
Next Y EPS Growth
18.86%
Next 5Y EPS Growth
26.40%
in millions of $

Dividends

Payout Ratio
0.49
Annual Dividend Rate
2.40
Annual Dividend Yield
3.12%
total individual payouts
2028 ‡‡‡‡
2027 ‡‡‡‡
2026 2.19
—
—
—
2025 6.64
—
—
—
—
2024 0.63
—
—
—
—
2023 0.45
—
—
—
—
2022 0.60
—
—
—
—
2021 0.35
—
—
—
—
2020 0.22
—
—
—
—
2019 1.50
—
—
—
—
2018 1.13
—
—
—
—
2017 1.56
—
—
—
—
—
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 383.10 482.83 809.42 304.23
Receivables 212.00 174.49 53.61 205.28
Inventory 434.56 425.73 502.27 558.08
Other — — — —
1,029.66 1,083.05 1,365.30 1,067.59
2023 2024 2025 Q'26
Payables 0.98 5.86 22.36 2.00
ST’ Debt — — — —
Other 230.66 172.39 168.30 182.39
841.51 840.16 1,009.85 759.43
in millions of $

Compound Annual Growth

10y 5y 3y
Sales ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Cash Flow ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡
Earnings ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Book Value ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡

Revenue

Mar Jun Sep Dec Year
’26 474.41 495.52 — —
—
’25 357.27 396.78 479.28 666.05
1,899.38
’24 343.06 339.18 359.57 484.11
1,525.91
’23 297.91 288.73 289.49 471.85
1,347.97
’22 350.65 352.19 331.75 391.05
1,425.64
’21 428.61 508.65 445.57 648.24
2,031.06
’20 236.17 292.44 303.72 405.89
1,238.21
in millions of $

Operating Cash Flow

Mar Jun Sep Dec Year
’26 (291.72) 36.25 — —
—
’25 (207.22) 32.14 31.91 729.80
586.63
’24 (197.19) 266.48 80.13 163.84
313.26
’23 (201.91) 27.27 27.26 423.01
275.63
’22 (484.24) 33.97 64.60 160.77
(224.91)
’21 (263.58) 274.84 208.38 487.45
707.09
’20 237.59 136.72 158.49 246.96
779.77
in millions of $

Free Cash Flow

Mar Jun Sep Dec Year
’26 (293.87) 28.46 — —
—
’25 (218.37) 17.93 25.92 726.48
551.96
’24 (198.46) 263.10 77.65 155.47
297.76
’23 (203.76) 24.43 23.67 421.24
265.58
’22 (488.97) 24.34 54.41 154.72
(255.51)
’21 (272.83) 269.21 207.25 482.89
686.51
’20 235.23 132.46 154.95 239.54
762.18
in millions of $

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

Target Price Range

High
‡‡‡‡‡
‡‡‡‡
Average
‡‡‡‡‡
‡‡‡‡‡
Low
‡‡‡‡‡
‡‡‡‡

Recommendation Rating

2
1
Buy
2
3
Hold
4
5
Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ 25.65 30.24 40.63 50.73 — — —
Low Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ 46.75 45.72 87.95 93.69 — — —
High Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,790 1,725 1,805 1,858 — — —
Employees
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.80 0.78 0.85 1.02 — — —
Revenue/Emp
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,425.64 1,347.97 1,525.91 1,899.38 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 98.58% 98.52% 98.70% 98.97% — — —
Gross Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 134.37 122.59 218.41 374.55 — — —
EBT
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 9.43% 9.09% 14.31% 19.72% ‡‡‡ ‡‡‡ ‡‡‡
EBT Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 101.18 98.97 157.44 293.97 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Net Income
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 40.34 48.19 43.71 52.74 — — —
Depreciation
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 25.49 22.53 24.09 28.51 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ 1.98 1.43 2.86 4.22 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Earnings/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (4.02) 4.61 4.94 8.80 — — —
Cash Flow/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (0.55) (0.17) (0.24) (0.52) ‡‡‡ ‡‡‡ ‡‡‡
Capex/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (4.57) 4.44 4.70 8.28 — — —
Free CF/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ 22.42 21.72 22.35 23.75 — — —
Book Value/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 55.93 59.83 63.35 66.63 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Shares
‡‡‡ ‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 17.06 29.87 26.27 20.14 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
PE Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.32 1.90 3.11 2.98 ‡‡‡ ‡‡‡ ‡‡‡
PS Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.50 1.97 3.36 3.58 ‡‡‡ ‡‡‡ ‡‡‡
PB Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.23 1.78 2.94 2.67 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
EV/Sales
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (6.87) 9.03 15.07 9.18 — — —
EV/FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (224.91) 275.63 313.26 586.63 ‡‡‡ ‡‡‡ ‡‡‡
Op' Cash Flow
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (30.60) (10.05) (15.50) (34.66) — — —
Capex
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (255.51) 265.58 297.76 551.96 — — —
FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 203.54 188.15 242.89 355.44 — — —
Working Cap'
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 235.00 — — — — — —
Total Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (130.62) (383.10) (482.83) (809.41) — — —
Net Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,254.03 1,299.47 1,415.77 1,582.79 — — —
Sh' Equity
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 4.66% 3.96% 8.24% 11.60% ‡‡‡‡‡ — —
ROA
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 9.25% 10.28% 16.67% 33.78% — — —
ROIC
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 8.92% 6.70% 13.34% 18.76% ‡‡‡‡‡ — —
ROE
predictions in italic, sparklines do not include predictions

Analyst Commentary (Summary)

Piper Sandler Companies (PIPR), a specialized mid-market investment bank excelling in healthcare, technology, and consumer finance, has demonstrated remarkable resilience through market cycles, surging from $747 million in revenues in 2016 to a 2021 peak of $2.03 billion amid M&A and SPAC booms, before normalizing to $1.53 billion in 2024. With revenue per employee at a robust $845,000 and forecasts projecting 25% growth to $1.90 billion in 2025 and $2.11 billion in 2026—fueled by anticipated rate cuts and deal revival—the firm is poised for a strong rebound, mirroring its historical alignment between earnings momentum and stock highs reaching $352 in 2024.

Profitability underscores this trajectory: EBT margins hit 21.7% in 2021, dipped to 9-10%, and recovered to 14.3% in 2024 with net income up 59% to $157 million and EPS at $11.44, supported by a cash-rich balance sheet (net cash $483 million) and ROE of 13.3%. Valuations remain attractive at a forward P/E of 17-18x and a discount to peers like Evercore, with book value per share up 39% since 2016.

Analysts forecast 22-43% upside, driven by healthcare M&A and trading leverage, though notable insider selling ($12.3 million in late 2025) tempers enthusiasm amid potential macro risks. PIPR’s sector expertise and operational efficiency position it as a compelling play on dealmaking’s resurgence—read the full analysis for Q1 2026 catalysts and deeper risk assessment.

Read full commentary →

Piper Sandler Companies (PIPR) Latest News

News by impact score

Fine-tune

10 Sep

4 , 2:00 AM
Piper Sandler opens new Paris office to launch equities trading operations across Europe. New European equities trading platform marks major strategic expansion into key international markets.

12 Aug

3 , 9:39 AM
Piper Sandler issues bullish outlook on Mercury Systems, citing strong growth prospects in ruggedized compute. Positive research note on Mercury Systems highlights Piper Sandler's analyst coverage and can modestly lift its market visibility.

6 Aug

4 , 4:12 PM
Piper Sandler Companies delivered stronger Q2 earnings and executed capital returns that have positively altered its investment narrative and outlook. Stronger Q2 earnings and capital returns signal material improvement in financial performance and investor sentiment for Piper Sandler.

31 Jul

3 transcript www.marketbeat.com, 8:03 PM
Piper Sandler Companies held Q2 earnings call highlighting financial results and performance updates. Q2 earnings call highlights deliver financial metrics that can shift near-term investor views and trading activity.

30 Jul

4 transcript , 5:01 PM
Piper Sandler reported record advisory revenue during its Q2 2026 earnings call alongside strong overall results. Record advisory revenue signals major positive shift in core business performance and investor outlook.

3 , 9:35 AM
Piper Sandler Companies reported second-quarter earnings and revenues that surpassed analyst estimates. Q2 earnings and revenue beats signal better-than-expected quarterly financial results with potential to influence near-term stock sentiment.

3 , 8:27 AM
Piper Sandler beat expectations with strong Q2 CY2026 results. Strong quarterly earnings beat can lift near-term sentiment and stock price.

3 , 8:00 AM
Piper Sandler Companies reported second quarter 2026 results and declared a quarterly dividend of $0.20 per share. Quarterly earnings releases and dividend declarations deliver performance data that can shift near-term valuation and sentiment.

29 Jul

4 , 2:29 PM
Piper Sandler (PIPR) prepares to release Q2 earnings with key preview details for investors. Q2 earnings release can drive major shifts in valuation and investor sentiment.

23 Jul

3 , 10:00 AM
Piper Sandler Companies (PIPR) earnings are projected to grow, prompting questions on whether to buy the stock. Projected earnings growth for Piper Sandler may moderately influence its financial performance and market sentiment.

15 Jul

3 , 4:24 PM
Piper Sandler revises its insurance coverage strategy by upgrading Gallagher while downgrading five other ratings. Internal strategy shift on insurance ratings may moderately affect Piper Sandler's operational positioning and investor views.

10 Jun

3 StockStory, 5:05 PM
Piper Sandler (PIPR) Q1 earnings are examined relative to other investment banking and brokerage firms. Q1 earnings analysis provides context on Piper Sandler's performance versus sector peers.

4 Jun

3 PR Newswire, 6:00 AM
CereVasc raises oversubscribed $85 million Series C to advance eShunt system for normal pressure hydrocephalus treatment. Piper Sandler participation in CereVasc financing delivers moderate short-term revenue without altering core trajectory.

27 May

3 www.marketbeat.com, 11:55 AM
Piper Sandler posted record revenue and raised dividends yet analysts withhold buy ratings on the stock. Record results and dividend growth create moderate positive momentum tempered by persistent analyst caution.

14 May

4 www.fool.com, 3:15 PM
Select analysts recommend Piper Sandler Companies (PIPR) as the one software stock to buy before it doubles. Analyst endorsement predicting PIPR stock will double drives significant positive investor sentiment and potential price surge.

11 May

4 Business Wire, 9:01 AM
Piper Sandler strengthens its fixed income platform by adding a distressed debt and special asset group. Adding a distressed debt and special asset group represents a major strategic expansion in Piper Sandler's core fixed income operations, enhancing competitive positioning and growth potential.

4 May

4 StockStory, 6:54 AM
Piper Sandler Companies (NYSE:PIPR) reported strong sales in Q1 CY2026. Strong Q1 sales reflect significant revenue growth, likely boosting investor sentiment and future market performance.

2 May

4 www.marketbeat.com, 3:47 AM
Piper Sandler Companies released Q1 earnings call highlights covering financial results, strategic updates, and forward guidance. Q1 earnings call highlights detail financial performance and outlook, significantly influencing stock price and investor expectations.

4 GuruFocus.com, 3:01 AM
Piper Sandler Companies (PIPR) announced record revenues in Q1 2026 earnings call, driven by strong advisory and capital markets performance, alongside strategic growth in asset management and healthcare. Record revenues and strategic growth in key sectors position PIPR for enhanced market performance and investor confidence.

1 May

4 Zacks, 8:45 AM
Piper Sandler Companies (PIPR) beat Q1 earnings and revenue estimates. Beating Q1 earnings and revenue estimates boosts investor confidence and signals strong financial performance, significantly impacting future stock trajectory.

4 Business Wire, 7:30 AM
Piper Sandler Companies reported first quarter 2026 results and increased its quarterly dividend to $0.20 per share. Q1 2026 earnings report with dividend increase to $0.20 per share signals financial strength and positively influences investor sentiment and stock performance.

3 app.moby.co, 4:49 PM
Piper Sandler Companies released Q1 2026 earnings call summary highlighting financial results, strategic updates, and forward guidance. Q1 earnings call summary affects financial performance and investor sentiment moderately.

28 Apr

3 Zacks, 12:10 PM
Piper Sandler Companies (PIPR) is positioned to exceed earnings estimates again due to strong fundamentals and positive analyst outlook. Anticipated earnings beat signals moderate boost to financial performance and investor sentiment ahead of results.

24 Apr

3 Zacks, 10:00 AM
Analysts expect Piper Sandler Companies (PIPR) to beat Q1 earnings estimates, driven by a positive Earnings ESP of +3.93% and Zacks Rank #2 (Buy), with historical tendency to surpass consensus in recent quarters ahead of the upcoming release. Earnings beat expectations can moderately influence short-term financial performance and investor sentiment without fundamentally altering long-term trajectory.

27 Feb

4 StockStory, 6:31 AM
Piper Sandler (NYSE:PIPR) Q4 earnings exhibit highs and lows compared to other investment banking and brokerage stocks. Q4 earnings comparison to peers signals major shifts in financial performance and competitive positioning.

25 Feb

3 Business Wire, 9:00 AM
Piper Sandler appoints Aamer Naseer as Head of Life Sciences Outsourcing and B2B Med Tech. Appointing a new head for life sciences outsourcing and B2B med tech enhances sector expertise and competitive positioning with moderate impact on performance.

13 Feb

4 TipRanks, 6:15 AM
Piper Sandler Companies has identified two software stocks as top picks for 2026, despite current market challenges. The firm emphasizes the potential of these stocks to outperform in the coming years, highlighting their strong fundamentals and growth prospects. Analysts believe that these selections could provide significant returns as the software sector evolves and adapts to changing market conditions. Identifying top software stocks for 2026 indicates a strategic focus that could significantly influence Piper Sandler's future performance and investor sentiment.

3 transcript StockStory, 12:37 AM
Piper Sandler Companies (PIPR) held its Q4 earnings call, addressing key analyst questions regarding financial performance, market conditions, and strategic initiatives. The discussion highlighted the firm's focus on enhancing client relationships and adapting to evolving market dynamics. Analysts sought clarity on revenue projections and the impact of economic factors on the company's operations. Management provided insights into their growth strategies and competitive positioning, emphasizing a commitment to innovation and client service. Overall, the call underscored Piper Sandler's proactive approach in navigating challenges and capitalizing on opportunities in the financial services sector. The earnings call revealed insights into strategic initiatives and market conditions that could moderately influence Piper Sandler's financial performance and competitive positioning.

12 Feb

4 Insider Monkey, 8:59 AM
Piper Sandler Companies emphasizes the importance of hyperscaler and vertical strength for SAP SE, highlighting strategic opportunities in the cloud computing sector. The firm believes that SAP's focus on these areas will enhance its competitive positioning and drive future growth. Analysts suggest that SAP's initiatives align well with market demands, potentially leading to increased market share and improved financial performance. SAP's strategic focus on hyperscalers and verticals is expected to significantly impact its competitive position and growth trajectory.

3 Insider Monkey24/7 Wall St.BarchartMotley Fool24/7 Wall St., 10:38 AM
Analysts at Piper Sandler Companies remain optimistic about Salesforce (CRM) despite ongoing weakness in the broader sector. They believe that Salesforce's strong fundamentals and market position will help it navigate current challenges effectively. The analysts highlight the company's resilience and potential for growth, suggesting that it could outperform its peers in the near term. Salesforce's performance may influence market sentiment and competitive positioning for Piper Sandler Companies.
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