NYSE : PIPR
Piper Sandler Companies — Financial statements
Financials · Capital Markets · United States
Last price 63.81 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 4.29B
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Financial statements
Piper Sandler Companies (PIPR) reported revenue of 2.08B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest and Dividend Income | 83.65M | 70.15M | 25.02M | 56.76M | 20.34M | 101.00M |
| Total Interest Expense | 3.02M | 4.84M | 5.68M | 10.15M | 9.48M | 10.73M |
| Net Interest Income | 80.63M | 65.31M | 19.34M | 46.62M | 10.86M | 90.27M |
| Brokerage Commission | 442.73M | 433.20M | 401.44M | 377.54M | 405.27M | 387.58M |
| Underwriting & Investment Banking Fee | 1.56B | 1.40B | 1.11B | 923.81M | 1.01B | 1.55B |
| Revenue | 2.08B | 1.90B | 1.53B | 1.35B | 1.43B | 2.03B |
| Salaries & Employee Benefits | 1.25B | 1.15B | 955.45M | 897.03M | 983.52M | 1.31B |
| Cost of Services Provided | 308.43M | 298.65M | 268.81M | 253.18M | 262.91M | 227.25M |
| Other Operating Expenses | 33.93M | 22.86M | 24.69M | 28.14M | 13.62M | 22.33M |
| Total Operating Expenses | 1.61B | 1.49B | 1.26B | 1.20B | 1.28B | 1.58B |
| Operating Income | 473.28M | 414.15M | 266.68M | 150.18M | 150.21M | 446.24M |
| EBT Excluding Unusual Items | 473.28M | 414.15M | 266.68M | 150.18M | 150.21M | 446.24M |
| Merger & Restructuring Charges | -102.00K | -6.14M | -2.59M | -7.75M | -11.44M | -4.72M |
| Legal Settlements | -800.00K | -800.00K | 2.20M | -20.20M | ||
| Other Unusual Items | -28.62M | -32.66M | -47.88M | 352.00K | -4.40M | |
| Pretax Income | 443.76M | 374.55M | 218.41M | 122.59M | 134.37M | 441.51M |
| Income Tax Expense | 122.23M | 80.58M | 60.97M | 23.61M | 33.19M | 111.14M |
| Earnings From Continuing Ops. | 321.53M | 293.96M | 157.44M | 98.97M | 101.18M | 330.37M |
| Net Income to Company | 321.53M | 293.96M | 157.44M | 98.97M | 101.18M | 330.37M |
| Minority Interest in Earnings | -19.06M | -12.63M | 23.67M | -13.48M | 9.49M | -51.85M |
| Net Income | 302.47M | 281.33M | 181.11M | 85.49M | 110.67M | 278.51M |
| Net Income to Common | 302.47M | 281.33M | 181.11M | 85.49M | 110.67M | 278.51M |
| Shares Outstanding (Basic) | 67.53M | 66.63M | 63.35M | 59.83M | 55.93M | 57.06M |
| Shares Outstanding (Diluted) | 71.10M | 71.14M | 70.78M | 68.90M | 67.86M | 67.82M |
| EPS (Basic) | 4.48 | 4.22 | 2.86 | 1.43 | 1.98 | 4.88 |
| EPS (Diluted) | 4.26 | 3.96 | 2.56 | 1.24 | 1.63 | 4.11 |
| Free Cash Flow | 551.96M | 297.76M | 265.58M | -255.51M | 686.51M | |
| Free Cash Flow Per Share | 7.76 | 4.21 | 3.85 | -3.77 | 10.12 | |
| Dividend Per Share | 0.75 | 0.68 | 0.62 | 0.60 | 0.60 | 0.49 |
| Operating Margin | 22.77% | 21.80% | 17.48% | 11.14% | 10.54% | 21.97% |
| Profit Margin | 14.55% | 14.81% | 11.87% | 6.34% | 7.76% | 13.71% |
| Free Cash Flow Margin | 29.06% | 19.51% | 19.70% | -17.92% | 33.80% | |
| Effective Tax Rate | 27.54% | 21.52% | 27.92% | 19.26% | 24.70% | 25.17% |
| Revenue as Reported | 2.08B | 1.90B | 1.53B | 1.36B | 1.44B | 2.04B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 809.41M | 482.83M | 383.10M | 365.62M | 970.97M | |
| Short-Term Investments | 502.27M | 425.73M | 434.56M | 339.98M | 348.97M | |
| Accounts Receivable | 53.61M | 174.49M | 212.00M | 300.46M | 254.13M | |
| Other Receivables | 148.30M | 142.71M | 49.48M | 63.31M | 63.44M | |
| Property, Plant & Equipment | 141.33M | 126.02M | 130.16M | 155.95M | 123.10M | |
| Goodwill | 319.26M | 312.02M | 301.76M | 301.15M | 227.51M | |
| Other Intangible Assets | 99.60M | 107.50M | 116.20M | 135.64M | 119.78M | |
| Investments in Debt & Equity Securities | 305.47M | 267.60M | 286.16M | 274.40M | 239.99M | |
| Other Current Assets | 27.66M | 26.48M | 22.40M | 18.66M | 18.99M | |
| Long-Term Deferred Tax Assets | 156.12M | 161.58M | 179.21M | 191.00M | 158.20M | |
| Other Long-Term Assets | 29.60M | 28.97M | 25.97M | 35.37M | 40.23M | |
| Total Assets | 2.59B | 2.26B | 2.14B | 2.18B | 2.57B | |
| Accounts Payable | 22.36M | 5.86M | 979.00K | 4.62M | 13.25M | |
| Accrued Expenses | 702.85M | 563.09M | 486.14M | 565.74M | 900.08M | |
| Short-Term Debt | 16.81M | 12.38M | 34.19M | 5.15M | 4.22M | |
| Current Portion of Leases | 26.84M | |||||
| Other Current Liabilities | 46.70M | 74.60M | 144.79M | 117.25M | 206.28M | |
| Long-Term Debt | 125.00M | 125.00M | ||||
| Long-Term Leases | 74.52M | 88.82M | 93.73M | 109.77M | 89.62M | |
| Other Long-Term Liabilities | 119.78M | 95.41M | 81.68M | |||
| Total Liabilities | 1.01B | 840.16M | 841.51M | 927.53M | 1.34B | |
| Common Stock | 195.00K | 195.00K | 195.00K | 195.00K | 195.00K | |
| Additional Paid-In Capital | 957.73M | 981.72M | 988.14M | 1.04B | 925.39M | |
| Retained Earnings | 728.93M | 561.75M | 454.36M | 453.31M | 450.17M | |
| Comprehensive Income & Other | 2.73M | -1.18M | -894.00K | -2.50M | -964.00K | |
| Total Common Equity | 1.37B | 1.37B | 1.23B | 1.09B | 1.05B | 1.06B |
| Minority Interest | 211.79M | 187.94M | 213.97M | 199.96M | 164.65M | |
| Shareholders' Equity | 1.57B | 1.58B | 1.42B | 1.30B | 1.25B | 1.23B |
| Total Liabilities & Equity | 2.59B | 2.26B | 2.14B | 2.18B | 2.57B | |
| Total Debt | 176.63M | 118.16M | 101.20M | 127.92M | 239.92M | 218.84M |
| Net Cash (Debt) | 685.68M | 1.19B | 807.36M | 689.74M | 465.68M | 1.10B |
| Net Cash Per Share | 9.64 | 16.78 | 11.41 | 10.01 | 6.86 | 16.24 |
| Filing Date Shares Outstanding | 67.10M | 67.84M | 63.96M | 60.35M | 54.67M | 57.55M |
| Total Common Shares Outstanding | 67.10M | 67.48M | 64.45M | 60.80M | 54.69M | 56.52M |
| Working Capital | 725.70M | 596.31M | 435.43M | 395.28M | 532.67M | |
| Book Value Per Share | 20.32 | 20.32 | 19.05 | 17.85 | 19.27 | 18.79 |
| Tangible Book Value | 956.87M | 952.15M | 808.30M | 667.54M | 617.28M | 714.92M |
| Tangible Book Value Per Share | 14.17 | 14.11 | 12.54 | 10.98 | 11.29 | 12.65 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 281.33M | 181.11M | 85.49M | 110.67M | 278.51M | |
| Depreciation & Amortization, Total | 27.39M | 27.07M | 37.37M | 31.01M | 42.71M | |
| Stock-Based Compensation | 123.91M | 103.36M | 93.77M | 131.20M | 171.45M | |
| Change in Accounts Receivable | 120.88M | 37.51M | 88.46M | -43.39M | -32.64M | |
| Change in Accounts Payable | 16.50M | 4.88M | -3.64M | -8.62M | -5.34M | |
| Change in Other Net Operating Assets | -26.82M | -51.27M | -61.54M | -412.81M | 245.02M | |
| Other Operating Activities | 18.09M | -6.05M | 24.91M | -42.30M | -2.13M | |
| Operating Cash Flow | 586.63M | 313.25M | 275.63M | -224.91M | 707.09M | |
| Capital Expenditures | -34.66M | -15.50M | -10.05M | -30.60M | -20.58M | |
| Cash Acquisitions | -8.99M | -16.27M | -96.50M | |||
| Investing Cash Flow | -43.65M | -31.77M | -10.05M | -127.10M | -20.58M | |
| Short-Term Debt Issued | 5.00M | 30.00M | ||||
| Total Debt Issued | 5.00M | 30.00M | ||||
| Short-Term Debt Repaid | -37.34M | |||||
| Long-Term Debt Repaid | -125.00M | -70.00M | ||||
| Total Debt Repaid | -37.34M | -125.00M | -70.00M | |||
| Net Debt Issued (Repaid) | 5.00M | -37.34M | -95.00M | -70.00M | ||
| Issuance of Common Stock | 4.25M | 792.00K | ||||
| Repurchase of Common Stock | -125.04M | -66.43M | -70.68M | -187.33M | -69.90M | |
| Common Dividends Paid | -54.07M | -52.66M | -55.52M | -37.40M | -72.32M | |
| Other Financing Activities | 11.21M | -3.91M | 538.00K | 44.80M | 16.13M | |
| Financing Cash Flow | -218.73M | -180.61M | -249.59M | -250.06M | -223.12M | |
| Foreign Exchange Rate Adjustments | 2.34M | -1.14M | 1.48M | -3.27M | -363.00K | |
| Net Cash Flow | 326.58M | 99.74M | 17.47M | -605.34M | 463.03M | |
| Free Cash Flow | 551.96M | 297.76M | 265.58M | -255.51M | 686.51M | |
| Free Cash Flow Margin | 29.06% | 19.51% | 19.70% | -17.92% | 33.80% | |
| Free Cash Flow Per Share | 7.76 | 4.21 | 3.85 | -3.77 | 10.12 | |
| Cash Interest Paid | 4.91M | 5.69M | 10.16M | 9.48M | 10.78M | |
| Cash Income Tax Paid | 41.09M | 10.90M | 19.40M | 85.43M | 165.91M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.52B | 5.65B | 4.76B | 2.63B | 1.84B | 2.51B |
| Last Close Price | 63.81 | 82.90 | 71.77 | 41.19 | 29.90 | 39.03 |
| PE Ratio | 15.79 | 20.09 | 26.26 | 30.77 | 16.62 | 9.01 |
| PS Ratio | 2.06 | 2.98 | 3.12 | 1.95 | 1.29 | 1.24 |
| PB Ratio | 3.14 | 3.57 | 3.36 | 2.02 | 1.47 | 2.05 |
| P/FCF Ratio | 8.80 | 10.24 | 15.97 | 9.90 | 3.66 | |
| P/OCF Ratio | 8.47 | 9.63 | 15.18 | 9.54 | 3.55 | |
| Debt / Equity Ratio | 0.11 | 0.07 | 0.07 | 0.10 | 0.19 | 0.18 |
| Debt / FCF Ratio | 0.21 | 0.34 | 0.48 | 0.32 | ||
| Net Debt / Equity Ratio | -0.44 | -0.75 | -0.57 | -0.53 | -0.37 | -0.90 |
| Net Debt / FCF Ratio | -2.16 | -2.71 | -2.60 | 1.82 | -1.60 | |
| Asset Turnover | 0.78 | 0.69 | 0.62 | 0.60 | 0.89 | |
| Quick Ratio | 1.86 | 1.87 | 1.62 | 1.54 | 1.46 | |
| Current Ratio | 1.89 | 1.91 | 1.65 | 1.57 | 1.47 | |
| Return on Equity (ROE) | 19.61% | 11.60% | 7.75% | 8.16% | 30.69% | |
| Return on Assets (ROA) | 12.13% | 7.16% | 4.58% | 4.26% | 14.48% | |
| Return on Invested Capital (ROIC) | 19.66% | 20.20% | 13.06% | 8.30% | 7.70% | 25.00% |
| Earnings Yield | 6.33% | 4.98% | 3.81% | 3.25% | 6.02% | 11.09% |
| FCF Yield | 11.36% | 9.77% | 6.26% | 10.10% | -13.89% | 27.35% |
| Dividend Yield | 3.08% | 0.81% | 0.85% | 1.39% | 1.78% | 1.10% |
| Payout Ratio | 47.00% | 19.22% | 29.08% | 64.95% | 33.79% | 25.97% |
| Buyback Yield / Dilution | 0.14% | -0.51% | -2.73% | -1.53% | -0.06% | -13.78% |
| Total Shareholder Return | 3.35% | 0.30% | -1.89% | -0.14% | 1.73% | -12.69% |