Saturday 17 October 2026
Export PIPR’s income statement to Excel — free account
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%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
0.00 | 0.00 | 18.44 | 10.05 | 34.21 | 9.13 | 17.06 | 29.87 | 26.27 | 20.14 |
Piotroski F-Score |
4 | 5 | 7 | 5 | 5 | 8 | 3 | 5 | 8 | 8 |
P/S ratio |
1.23 | 1.33 | 1.18 | 1.30 | 1.12 | 1.25 | 1.32 | 1.90 | 3.11 | 2.98 |
P/FCF ratio |
0.00 | 5.63 | 1.76 | 17.69 | 1.82 | 3.71 | 0.00 | 9.64 | 15.96 | 10.25 |
P/Operating CF |
(19.96) | (5.04) | 5.83 | 21.85 | 5.63 | 5.22 | 11.72 | 6.05 | 29.00 | 7.75 |
P/B ratio |
1.13 | 1.48 | 1.19 | 1.34 | 1.50 | 2.08 | 1.50 | 1.97 | 3.36 | 3.58 |
Price to Tangible BV |
1.58 | 1.73 | 1.35 | 1.54 | 2.53 | 2.90 | 2.31 | 2.90 | 4.77 | 4.86 |
EV/Sales |
1.16 | 1.44 | 1.28 | 1.34 | 0.95 | 0.92 | 1.28 | 1.84 | 2.99 | 2.71 |
EV/EBITDA |
9.74 | 5.24 | 7.78 | 6.62 | 7.11 | 3.50 | 8.81 | 12.45 | 15.61 | 10.94 |
EV/Operating CF |
(268.86) | 5.86 | 1.86 | 16.46 | 1.51 | 2.65 | (8.09) | 8.99 | 14.58 | 8.78 |
EV/FCF |
(60.88) | 6.10 | 1.91 | 18.21 | 1.54 | 2.73 | (7.12) | 9.33 | 15.34 | 9.33 |
Quick Ratio |
0.42 | 0.15 | 0.47 | 0.82 | 0.83 | 1.01 | 0.83 | 0.71 | 0.78 | 0.85 |
Current Ratio |
1.35 | 1.35 | 1.51 | 1.81 | 1.29 | 1.30 | 1.25 | 1.22 | 1.29 | 1.35 |
Net Debt/EBITDA |
(0.62) | 0.40 | (0.41) | (0.44) | (1.89) | (1.58) | (1.16) | (1.93) | (1.65) | (1.72) |
Debt/Assets |
8.23% | 6.17% | 0.00% | 10.74% | 9.76% | 4.87% | 5.73% | 0.00% | 0.00% | 0.00% |
Debt/Equity |
0.21 | 0.17 | 0.00 | 0.22 | 0.21 | 0.10 | 0.10 | 0.00 | 0.00 | 0.00 |
Asset Turnover |
0.35 | 0.40 | 0.44 | 0.56 | 0.68 | 0.89 | 0.60 | 0.62 | 0.69 | 0.78 |
Operating CF/Net income |
0.15 | (3.13) | 8.94 | 0.63 | 19.25 | 2.54 | (2.03) | 3.22 | 1.73 | 2.09 |
Capex/Depreciation |
(0.09) | (0.06) | (0.66) | (0.27) | (0.30) | (0.39) | (0.76) | (0.21) | (0.35) | (0.66) |
| (2.66%) | (8.33%) | 7.75% | 13.95% | 4.68% | 25.87% | 8.92% | 6.70% | 13.34% | 18.76% | |
| (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% |
Return on Tangible Assets |
(5.17%) | (15.11%) | 16.75% | 19.30% | 13.56% | 67.54% | 40.73% | 34.34% | 59.91% | 65.01% |
Average Days of Receivables |
119.48 | 64.43 | 115.90 | 123.82 | 65.29 | 45.67 | 76.93 | 57.41 | 41.74 | 10.30 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
81.01% | 82.16% | 78.04% | 73.38% | 79.90% | 70.26% | 80.05% | 78.03% | 76.54% | 71.77% |
Intangible Assets out of Total Assets |
0.11 | 0.05 | 0.06 | 0.06 | 0.19 | 0.14 | 0.20 | 0.20 | 0.19 | 0.16 |
Share Based Compensation of Revenue |
7.49% | 4.84% | 5.98% | 3.83% | 9.83% | 8.44% | 9.20% | 6.96% | 6.77% | 6.52% |
Graham Net Nets |
0.24 | 0.25 | 0.34 | 0.32 | 0.04 | 0.09 | 0.04 | 0.07 | 0.05 | 0.06 |
Graham Number |
0.00 | 0.00 | 16.65 | 25.81 | 16.70 | 48.64 | 31.57 | 26.46 | 37.89 | 47.48 |
Earnings Yield |
(2.78%) | (6.20%) | 5.42% | 9.95% | 2.92% | 10.96% | 5.86% | 3.35% | 3.81% | 4.97% |
Free Cash Flow Yield |
(1.54%) | 17.75% | 56.69% | 5.65% | 54.80% | 26.96% | (13.56%) | 10.37% | 6.27% | 9.75% |
Revenue per Share |
14.74 | 16.08 | 14.00 | 15.39 | 22.46 | 35.60 | 25.49 | 22.53 | 24.09 | 28.51 |
Operating CF per Share |
(0.06) | 3.96 | 9.63 | 1.25 | 14.15 | 12.39 | (4.02) | 4.61 | 4.94 | 8.80 |
Capex per Share |
(0.22) | (0.16) | (0.30) | (0.12) | (0.32) | (0.36) | (0.55) | (0.17) | (0.24) | (0.52) |
Free Cash Flow per Share |
(0.28) | 3.81 | 9.33 | 1.13 | 13.83 | 12.03 | (4.57) | 4.44 | 4.70 | 8.28 |
Cash per Share |
4.54 | 0.66 | 0.95 | 4.61 | 9.21 | 17.02 | 6.54 | 6.40 | 7.62 | 12.15 |
Shareholders Equity per Share |
16.10 | 14.47 | 13.80 | 14.88 | 16.80 | 21.50 | 22.42 | 21.72 | 22.35 | 23.75 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
16.10 | 14.47 | 13.80 | 14.88 | 16.80 | 21.50 | 22.42 | 21.72 | 22.35 | 23.75 |
Free Cash Flow |
(14.24) | 195.01 | 493.99 | 61.28 | 762.18 | 686.51 | (255.51) | 265.58 | 297.76 | 551.96 |
Working Capital |
399.45 | 404.12 | 308.22 | 525.70 | 254.92 | 360.62 | 203.54 | 188.15 | 242.89 | 355.44 |
Capital Expenditures |
(11.02) | (7.99) | (15.80) | (6.52) | (17.58) | (20.58) | (30.60) | (10.05) | (15.50) | (34.66) |
Net Current Asset Value |
224.45 | 279.12 | 298.01 | 350.70 | 59.92 | 235.62 | 78.54 | 188.15 | 242.89 | 355.44 |
EV/EBIT |
0.00 | 14.30 | 9.69 | 7.71 | 11.04 | 3.87 | 10.94 | 16.43 | 18.35 | 12.32 |
Capex to Sales |
0.01 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 | 0.02 |
Price to Operating Income |
0.00 | 13.20 | 8.93 | 7.49 | 13.04 | 5.26 | 11.34 | 16.98 | 19.09 | 13.54 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
4.71 | 5.71 | 0.74 | 0.80 | 1.35 | 1.01 | 0.59 | 0.79 | 0.74 | 0.68 |
Cash ROIC |
(1.17%) | 21.67% | 63.27% | 4.98% | 46.79% | 29.56% | (14.65%) | 15.78% | 15.68% | 23.07% |
Accounts Receivable Turnover |
3.45 | 4.22 | 3.89 | 3.22 | 4.91 | 8.54 | 5.14 | 5.26 | 7.90 | 16.65 |
Accounts Payable Turnover |
0.10 | 0.18 | 0.57 | 1.26 | 1.45 | 1.04 | 2.26 | 7.13 | 5.80 | 1.39 |
Inventory Turnover |
0.01 | 0.01 | 0.01 | 0.02 | 0.04 | 0.04 | 0.06 | 0.05 | 0.05 | 0.04 |
Average Days of Payables |
3,348.69 | 866.77 | 394.29 | 269.25 | 358.39 | 292.45 | 83.58 | 17.89 | 107.87 | 416.38 |
Days of Inventory on Hand |
50,519.46 | 61,833.53 | 28,567.01 | 22,924.91 | 7,740.91 | 7,704.32 | 6,147.75 | 7,941.78 | 7,833.77 | 9,353.97 |
Average Receivables |
216.88 | 195.02 | 190.34 | 259.19 | 252.30 | 237.81 | 277.30 | 256.23 | 193.25 | 114.05 |
Average Payables |
77.84 | 44.79 | 14.02 | 8.09 | 13.05 | 15.92 | 8.93 | 2.80 | 3.42 | 14.11 |
Average Inventory |
1,024.95 | 1,221.17 | 1,005.30 | 633.49 | 520.66 | 375.26 | 344.48 | 387.27 | 430.14 | 464.00 |
Average Assets |
2,132.01 | 2,075.09 | 1,684.98 | 1,486.99 | 1,812.93 | 2,281.22 | 2,373.43 | 2,161.27 | 2,198.46 | 2,424.29 |
Average Common Equity |
824.54 | 778.75 | 735.83 | 768.47 | 866.30 | 1,076.47 | 1,240.44 | 1,276.75 | 1,357.62 | 1,499.28 |
Columns are period end dates