8-K Announcements
6Material company update
May 21, 2026·SEC
Material company update
May 1, 2026·SEC
Material company update
Mar 23, 2026·SEC
Piper Sandler Companies(PIPR)Earnings, Financials & Key Ratios
PIPR•NYSE
$75.08
19.0× P/E·Price updated Jul 7, 2026
AboutPiper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. The company offers investment banking and institutional sales, trading, and research services for various equity and fixed income products. It provides advisory services, such as mergers and acquisitions, equity private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and offers municipal financial advisory and loan placement services, as well as various over-the-counter derivative products. The company also offers public finance investment banking services that focus on state and local governments, and cultural and social service non-profit entities, as well as the education, healthcare, hospitality, senior living, and transportation sectors. In addition, it provides equity and fixed income advisory and trade execution services for institutional investors, and government and non-profit entities. Further, the company is involved in the alternative asset management funds merchant banking and healthcare to invest firm capital and to manage capital from outside investors, as well as trading activities. The company was formerly known as Piper Jaffray Companies and changed its name to Piper Sandler Companies in January 2020. Piper Sandler Companies was founded in 1895 and is headquartered in Minneapolis, Minnesota.Show more
- EBITDA$413M+68.2%
- Net Income$281M+55.3%
- EPS (Diluted)3.96+54.7%
- Gross Margin93.61%-6.0%
- EBITDA Margin21.68%+30.8%
- Operating Margin20.25%+37.3%
- Net Margin14.77%+20.8%
- ROE18.76%+40.7%
PIPR Price & Volume
Piper Sandler Companies (PIPR) stock price & volume — 10-year historical chart
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Cyclical Advisory Revenue Drives Scalable Margin Expansion
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Expanding
Profitability:Moderate
Financial:Fortress
Cash Flow:Mixed
Primary Risk:Cyclical M&A deal flow
Key Thesis Takeaways
- Piper Sandler demonstrates a robust recovery in mid-market M&A activity, evidenced by a revenue peak of $667.0M in 2025Q4, which highlights the firm's ability to capitalize on favorable transaction environments.
- While the firm maintains a fortress balance sheet with a 0.07 debt-to-equity ratio, investors should monitor the inherent volatility in cash flow conversion and the potential for regulatory headwinds within the FIG advisory segment.
- Long-term value creation appears supported by consistent capital returns, though the reliance on stock-based compensation, such as the $32.3M recorded in 2024Q4, warrants careful adjustment when assessing true economic earnings.
Verdict Logic
while the firm trades at a forward P/E of 16.14 and maintains a strong balance sheet, the extreme quarterly volatility in operating cash flow and reliance on cyclical advisory fees suggest a cautious entry point.
PIPR Growth Metrics
Piper Sandler Companies (PIPR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years10.71%
5 Years9.75%
3 Years11.25%
TTM-
Profit CAGR
10 Years18.37%
5 Years47.35%
3 Years36.48%
TTM38.38%
EPS CAGR
10 Years16.84%
5 Years42.25%
3 Years34.43%
TTM38.46%
Return on Capital
10 Years8.47%
5 Years11.68%
3 Years10.81%
Last Year16.16%
PIPR Recent Earnings
Piper Sandler Companies (PIPR) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
May 1, 2026Metric
Actual
Est
EPS
$1.00+17.6%
$0.85
Rev
$474M+8.7%
$436M
Q1 2026
Feb 6, 2026Metric
Actual
Est
EPS
$1.72+45.8%
$1.18
Rev
$635M+22.5%
$518M
Q4 2025
Oct 31, 2025Metric
Actual
Est
EPS
$3.82+20.5%
$3.17
Rev
$462M+9.2%
$424M
Q3 2025
Aug 1, 2025Metric
Actual
Est
EPS
$2.95+31.1%
$2.25
Rev
$394M-3.7%
$409M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 1, 2026 | $1.00vs $0.85+17.6% | $474Mvs $436M+8.7% |
| Q1 2026 | Feb 6, 2026 | $1.72vs $1.18+45.8% | $635Mvs $518M+22.5% |
| Q4 2025 | Oct 31, 2025 | $3.82vs $3.17+20.5% | $462Mvs $424M+9.2% |
| Q3 2025 | Aug 1, 2025 | $2.95vs $2.25+31.1% | $394Mvs $409M-3.7% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Piper Sandler Companies (PIPR)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $75.08 | $5.35B | 18.96 | 28.55% | 14.77% | 18.76% | 2.14% | |
| $69.84 | $5.19B | 23.76 | 26.98% | 14.46% | 35.15% | — | |
| $168.56 | $4.07B | 25.23 | 14.77% | 10.32% | 20.08% | — | |
| $139.12 | $9.61B | 22.37 | 9.55% | 16.26% | 18.57% | — | |
| $41.74 | $4.11B | 19.24 | 3.25% | 8.48% | 29.43% | — | |
| $346.87 | $13.42B | 24.69 | 29.49% | 16.3% | 35.52% | — |
Compare PIPR vs Peers
Piper Sandler Companies (PIPR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
PIPR SEC Filings & Documents
Piper Sandler Companies (PIPR) SEC filings — annual & quarterly reports (10-K, 10-Q)
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PIPR Frequently Asked Questions
Piper Sandler Companies (PIPR) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Piper Sandler Companies's revenue?
Piper Sandler Companies (PIPR) reported $2.00B in revenue for fiscal year 2025.
How fast is Piper Sandler Companies growing?
Piper Sandler Companies (PIPR) grew revenue by 28.6% over the past year. This is strong growth.
Is PIPR profitable?
Yes, Piper Sandler Companies (PIPR) is profitable, generating $281.7M in net income for fiscal year 2025 (14.8% net margin).
Dividend & Returns
Does PIPR pay dividends?
Yes, Piper Sandler Companies (PIPR) pays a dividend with a yield of 2.14%. This makes it attractive for income-focused investors.
What is PIPR's return on equity?
Piper Sandler Companies (PIPR) has a return on equity (ROE) of 18.8%. This is reasonable for most industries.
What is Piper Sandler Companies's free cash flow?
Piper Sandler Companies (PIPR) generated $571.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.