Piper Sandler Companies

PIPR Financial Capital Markets

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%
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

An Income Statement, also known as a Profit and Loss Statement, summarizes a company's revenues, expenses, and profits over a specific period. It highlights how revenue is transformed into net income, showcasing operational efficiency. Key components include total revenue, cost of goods sold (COGS), gross profit, operating expenses, and net profit. Businesses use the Income Statement to assess financial performance, make strategic decisions, and ensure profitability. Investors and stakeholders analyze it to gauge the company’s financial health and future growth potential.

Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Dec '20 Dec '19 Dec '18 Dec '17 Dec '16
Revenue
1,899.38 1,525.91 1,347.97 1,425.64 2,031.06 1,238.21 834.57 740.95 823.62 747.35
Revenue Growth
24.47% 13.20% (5.45%) (29.81%) 64.03% 48.37% 12.63% (10.04%) 10.21% 11.06%
Cost of Revenue
19.60 19.84 19.97 20.19 16.53 18.93 10.19 8.01 8.17 7.65
Gross Profit
1,879.78 1,506.08 1,328.00 1,405.45 2,014.53 1,219.28 824.38 732.94 815.46 739.70
SG&A Expenses
1,363.27 1,167.86 1,051.84 1,141.19 1,427.02 989.30 612.43 578.27 676.68 605.46
Operating Income
418.03 248.90 150.78 166.24 484.43 106.62 144.80 97.61 83.24 (30.31)
Non-operating Income/Expense
(43.48) (30.49) (28.19) (31.87) (42.92) (38.07) (25.82) (25.12) (3.93) (0.56)
EBT
374.55 218.41 122.59 134.37 441.51 68.55 118.98 72.49 79.32 (30.87)
Income Tax Provision
80.58 60.97 23.61 33.19 111.14 19.19 24.58 18.05 53.81 (17.13)
Income after Tax
293.97 157.44 98.97 101.18 330.37 49.36 94.40 54.44 25.51 (13.75)
Dividends (Preferred)
— — — — — 0.00 4.51 7.04 2.94 —
Non-Controlling Interest
12.63 (23.67) 13.48 (9.49) 51.85 8.85 6.46 (1.21) 2.39 8.21
Net Income Common
281.33 181.11 85.49 110.67 278.51 40.50 107.20 57.04 (64.87) (21.95)
EPS (Basic)
4.22 2.86 1.43 1.98 4.88 0.74 1.98 0.95 (1.27) (0.43)
EPS (Diluted)
3.96 2.56 1.24 1.63 4.11 0.68 1.92 0.93 (1.27) (0.43)
Shares (Basic, Weighted)
66.63 63.35 59.83 55.93 57.06 55.12 54.22 52.94 51.23 50.70
Shares (Diluted, Weighted)
71.14 70.78 68.90 67.86 67.82 59.60 55.75 53.70 51.91 51.12
Gross Margin
98.97% 98.70% 98.52% 98.58% 99.19% 98.47% 98.78% 98.92% 99.01% 98.98%
EBIT Margin
22.01% 16.31% 11.19% 11.66% 23.85% 8.61% 17.35% 13.17% 10.11% (4.06%)
EBT margin
19.72% 14.31% 9.09% 9.43% 21.74% 5.54% 14.26% 9.78% 9.63% (4.13%)
Net Profit Margin
14.81% 11.87% 6.34% 7.76% 13.71% 3.27% 12.84% 7.70% (7.88%) (2.94%)
Free Cash Flow Margin
29.06% 19.51% 19.70% (17.92%) 33.80% 61.56% 7.34% 66.67% 23.68% (1.91%)
EBITDA
470.77 292.61 198.96 206.58 536.65 165.59 168.56 121.57 227.00 89.00
EBIT
418.03 248.90 150.78 166.24 484.43 106.62 144.80 97.61 83.24 (30.31)
Income from Continuous Operations
293.97 157.44 98.97 101.18 330.37 49.36 94.40 54.44 25.51 (13.75)
Income from Discontinued Operations
— — — — — — 23.77 1.39 (85.06) —
Consolidated Net Income/Loss
293.97 157.44 98.97 101.18 330.37 49.36 118.17 55.83 (59.55) (13.75)
EPS (Basic, from Continuous Ops)
4.41 2.49 1.65 1.81 5.79 0.90 1.55 0.92 0.39 (0.27)
EPS (Basic, from Discontinued Ops)
— — — — — — 0.42 0.02 (1.66) —
EPS (Basic, Consolidated)
4.41 2.49 1.65 1.81 5.79 0.90 2.18 1.05 (1.16) (0.27)
EPS (Diluted, from Cont. Ops)
4.13 2.22 1.44 1.49 4.87 0.83 1.51 0.91 0.39 (0.27)
EPS (Diluted, from Disc. Ops)
— — — — — — 0.00 0.00 0.00 —
Shares (Diluted, Average)
71.14 70.78 68.90 67.86 67.82 59.60 55.75 53.70 51.91 51.12
EPS (Diluted, Consolidated)
4.13 2.22 1.44 1.49 4.87 0.83 2.12 1.04 (1.15) (0.27)
EBITDA Margin
24.79% 19.18% 14.76% 14.49% 26.42% 13.37% 20.20% 16.41% 27.56% 11.91%
Operating Cash Flow Margin
30.89% 20.53% 20.45% (15.78%) 34.81% 62.98% 8.12% 68.80% 24.65% (0.43%)

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In millions of $ except per-share values · columns are period end dates