Piper Sandler Companies (PIPR) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | -314.73M | 847.3M | 31.91M | 32.14M | -207.22M | 163.84M | 80.13M | 266.48M | -197.19M | 423.01M | 27.25M | 27.27M | -201.91M | 160.77M | 64.6M | 33.97M | -484.24M | 487.45M | 208.38M | 274.83M |
| Operating CF Margin % | -66.24% | 127.03% | 6.9% | 8.16% | -59.56% | 35.01% | 22.91% | 79.23% | -59.18% | 91.79% | 9.72% | 9.52% | -69.72% | 42.51% | 20.11% | 9.98% | -141.07% | 76.7% | 48.06% | 55.14% |
| Operating CF Growth % | -51.88% | 417.16% | -60.18% | -87.94% | -5.09% | -61.27% | 193.99% | 877.07% | 2.34% | 163.11% | -57.81% | -19.71% | 58.3% | -67.02% | -69% | -87.64% | -83.72% | 97.38% | 31.48% | 101.02% |
| Net Income | 65.24M | 113.97M | 82.48M | 31.75M | 36.77M | 52.5M | 40.39M | 14.97M | 49.58M | 64.57M | -13.68M | 14.63M | 33.45M | 38.01M | 10.73M | 27.77M | 24.66M | 125.58M | 52.2M | 86.99M |
| Depreciation & Amortization | 6.79M | 8.06M | 6.81M | 6.23M | 6.29M | 7.13M | 6.73M | 6.6M | 6.62M | 9.2M | 9.38M | 9.46M | 9.33M | 9.53M | 7.84M | 7.11M | 6.53M | 10.93M | 10.87M | 10.73M |
| Stock-Based Compensation | 0 | 0 | 23.41M | 21.26M | 31.16M | 32.25M | 20.52M | 23.77M | 26.82M | 31.02M | 21.57M | 13.68M | 27.5M | 38.55M | 32.22M | 28.45M | 31.98M | 52.24M | 40.67M | 44.62M |
| Deferred Taxes | 0 | 0 | 2.77M | -9.57M | 32.27M | -5.41M | -8.91M | -8.74M | 40.69M | 14.59M | 7.42M | -2.39M | -8.19M | -24.18M | -6.46M | -9.41M | 7.25M | -24.51M | -14.87M | -16.43M |
| Other Non-Cash Items | 56.36M | 65.11M | -425.16M | 5.34M | 5.02M | 6.3M | 3.3M | 2.21M | 4.83M | 3.09M | 2.32M | 2.79M | 2.61M | 2.6M | 2.57M | 2.06M | 2.09M | 2.72M | 3.92M | 1.58M |
| Working Capital Changes | -443.12M | 660.16M | 341.61M | -22.87M | -318.74M | 71.06M | 18.11M | 227.67M | -325.72M | 300.52M | 241K | -10.88M | -266.61M | 96.25M | 17.7M | -22.02M | -556.75M | 320.48M | 115.59M | 147.34M |
| Change in Receivables | -57.59M | 423.63M | -7.71M | -134.13M | 141.84M | -75.57M | 18.43M | 59.05M | 35.61M | 126.09M | -124.6M | -86.64M | 173.6M | -65.72M | -28.53M | -24.86M | 75.72M | -28.4M | 96.51M | -50.56M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 18.55M | -35.73M | -269K | 5.37M | -5.1M | 4.11M | -20.19M | 18.57M | 2.4M | -10.85M | 0 | 0 | -603K | -22.3M | 16.51M | 8.03M | -10.86M | 4.66M | -3.82M | -5.75M |
| Cash from Investing | 20.87M | -118.35M | -14.97M | -14.22M | -11.15M | -8.47M | -18.64M | -3.38M | -1.27M | -1.76M | -3.59M | -2.84M | -1.85M | -69.51M | -10.19M | -17.71M | -29.69M | -4.56M | -1.13M | -5.62M |
| Capital Expenditures | -2.15M | -3.32M | -5.98M | -14.22M | -11.15M | -8.37M | -2.48M | -3.38M | -1.27M | -1.76M | -3.59M | -2.84M | -1.85M | -6.05M | -10.19M | -9.62M | -4.73M | -4.56M | -1.13M | -5.62M |
| CapEx % of Revenue | 0.45% | 0.5% | 1.29% | 3.61% | 3.2% | 1.79% | 0.71% | 1% | 0.38% | 0.38% | 1.28% | 0.99% | 0.64% | 1.6% | 3.17% | 2.83% | 1.38% | 0.72% | 0.26% | 1.13% |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | 863.55M | 818.16M | 708.16M | 748.6M | 720.38M | 678.67M | 654.14M | 620.61M | 456.87M | 666.66M | 669.45M | 649.51M | 661.49M | 646.37M | 628.7M | 599.47M | 576.83M | 494.51M | 579.73M | 535.17M |
| Other Investing | 34.58M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | -170.09M | -33.73M | -25.23M | -22.66M | -139.56M | -19.34M | -34.98M | -11.94M | -114.36M | -91.22M | -37.79M | -3.83M | -116.74M | -2.29M | -15.74M | -23.27M | -208.76M | -83.09M | -32.8M | -23.68M |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | -69.37M | -18.87M | -1.9M | -20.89M | -80.63M | -6.46M | -2.38M | -5.5M | -52.09M | -3.06M | -3.9M | -2.89M | -60.83M | -1.53M | -21.61M | -50.32M | -113.87M | -1.53M | -32.2M | -17.22M |
| Dividends Paid | -100.72M | -14.87M | -11.93M | -17.09M | -70.26M | -12.61M | -10.67M | -14.79M | -35.66M | -10.24M | -10.08M | -13.27M | -50.86M | -8.51M | -9.21M | -8.41M | -81.39M | -50.24M | -8.1M | -6.46M |
| Share Repurchases | -69.89M | -19.85M | -3.68M | -20.89M | -80.63M | -6.46M | -2.38M | -5.5M | -52.09M | -3.06M | -3.9M | -2.89M | -60.83M | -1.53M | -21.61M | -50.32M | -113.87M | -1.53M | -32.2M | -17.22M |
| Other Financing | 0 | 0 | -11.41M | 15.31M | 6.33M | 9.73M | -24.59M | 8.35M | 3.4M | -107.92M | -23.81M | 12.32M | -5.05M | 7.76M | 15.09M | 35.46M | -13.5M | 18.68M | 7.5M | -2K |
| Net Change in Cash | -464.98M | 695.42M | -9.33M | -2.76M | -356.75M | 132.65M | 29.25M | 250.98M | -313.14M | 331.22M | -15.35M | 21.25M | -319.66M | 91.14M | 36.7M | -9.25M | -723.93M | 399.9M | 173.56M | 245.7M |
| Free Cash Flow | -316.88M | 843.98M | 25.92M | 17.93M | -218.37M | 155.47M | 77.65M | 263.1M | -198.46M | 421.24M | 23.66M | 24.43M | -203.76M | 154.72M | 54.41M | 24.34M | -488.98M | 482.89M | 207.25M | 269.21M |
| FCF Margin % | -66.69% | 126.54% | 5.61% | 4.55% | -62.77% | 33.22% | 22.2% | 78.23% | -59.56% | 91.41% | 8.44% | 8.53% | -70.36% | 40.91% | 16.94% | 7.15% | -142.45% | 75.98% | 47.79% | 54.01% |
| FCF Growth % | -45.11% | 442.87% | -66.62% | -93.19% | -10.03% | -63.09% | 228.13% | 976.95% | 2.6% | 172.27% | -56.5% | 0.36% | 58.33% | -67.96% | -73.75% | -90.96% | -79.22% | 101.59% | 33.75% | 103.24% |
| FCF per Share | -4.45 | 11.85 | 0.36 | 0.25 | -3.04 | 2.17 | 1.09 | 3.73 | -2.83 | 6.06 | 0.34 | 0.36 | -2.96 | 2.29 | 0.81 | 0.36 | -7.07 | 6.96 | 3.04 | 3.97 |
| FCF Conversion (FCF/Net Income) | -4.82x | 7.43x | 0.53x | 0.76x | -3.19x | 2.37x | 2.30x | 7.66x | -4.64x | 8.13x | 7.03x | 6.90x | -7.88x | 4.22x | 4.45x | 1.59x | -13.21x | 4.29x | 4.56x | 3.94x |
| Interest Paid | 0 | 0 | 844K | 1.8M | 1.23M | 1.32M | 1.42M | 1.65M | 1.3M | 2.41M | 2.63M | 2.58M | 2.55M | 2.27M | 2.74M | 2.63M | 1.84M | 2.71M | 2.52M | 2.71M |
| Taxes Paid | 0 | 0 | 101K | 39.3M | 168K | -5.91M | 1.17M | 4.62M | 127K | -2.2M | 1.44M | 19.47M | 737K | 25.14M | 15.16M | 36.85M | 8.28M | 41.84M | 64.17M | 50.26M |