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NYSE · SECURITY BROKERS, DEALERS & FLOTATION COMPANIES · LARGE CAP

Piper Sandler Companies PIPR

18 fiscal years on record · USD · FY2025 reported · SEC filings only
$1.9B
▲ 24.3% YoY
$281.3M
▲ 55.3% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Piper Sandler Companies is an investment bank and institutional securities firm, serving the needs of corporations, private equity groups, public entities, non-profit entities and institutional investors in the United States and internationally. Its headquarters are located in Minneapolis, Minnesota, and it maintains offices across the U.S. and in international locations including London, Aberdeen, Munich, Paris, Zurich, Abu Dhabi Global Markets and Hong Kong. As of December 31, 2025, the firm had 1,858 full-time employees, of which 1,735 were employed in the U.S. and 123 in the United Kingdom, Germany, France, Switzerland and Hong Kong. It operates in a single reportable segment that provides investment banking services, institutional sales and trading services for equity and fixed income products, and research services. For corporate clients and financial sponsors, it provides advisory services that include mergers and acquisitions, equity and debt financings, equity and debt private placements, debt capital markets advisory, restructuring and private capital advisory. Its fundamental equity research analysts provide investment ideas and support to trading clients on approximately 840 companies. It has created alternative asset management funds in merchant banking and healthcare to invest firm capital and manage capital from outside investors. Piper Sandler Companies was founded in 1895.

Written from the business description in PIPER SANDLER COMPANIES's annual report to the U.S. Securities and Exchange Commission, filed 26 February 2026. Every sentence was checked against that document before publication.

Growth

USD 1.9B
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 1.9 · Net income 0.3
1B2B
2008201120142017202020232025
Compound annual growth
+9.9%
+8.7%
+10.6%
+9.1%
+36.5%
+47.3%
+18.4%
+17.7%
+34.4%
+42.2%
+16.8%
+18.6%
−6.2%
+23.3%
−7.3%
+36.2%
+6.0%
+9.8%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +8.7% a year over the five years to FY2025 — but profit grew faster: net income at +47.3%, earnings per share at +42.2%.

The share count rose from 0.01B to 0.02B over the period.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

·
Operating margin Net margin
FY2011 · Net -22.2%
-20%-40%
200820162025
ROE
FY2025 · ROE 21.7%
10%20%-10%-20%
200820162025
Three returns, three denominators.
Return on capital employedNot available: we don't have total assets or current liabilities for this period.

Each USD of equity produced 22 cents of profit this year.

Cash & shareholders

USD 234.9M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2013 · FCF 36.7
100M200M-100M-200M
200820162025
Net buybacks $M Dividends $M
FY2025 · Dividends 114.1 · Net buybacks 120.8
150M300MDividendsNet buybacks
2008201120142017202020232025

USD 114.1M in dividends and USD 120.8M in buybacks — 84% of the year's profit went back to shareholders.

Total assetsUSD 2.6B
EquityUSD 1.4B
CashUSD 809.4M
Gross debtUSD 15.0M
Net debtUSD -794.4M

The company holds more cash than debt.

The 18-year record

18 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
PIPR, 18-year financial record
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B1.91.51.41.42.01.30.80.80.80.80.70.70.60.50.50.50.50.3
Operating income $B0.40.20.10.10.40.10.10.10.1−0.00.10.10.10.1◌◌◌◌
EBITDA $B0.40.20.10.10.50.10.10.10.1−0.00.10.10.10.1◌◌◌◌
Income tax $B0.10.10.00.00.10.00.00.00.1−0.00.00.00.00.00.00.00.0−0.0
Net income $B0.30.20.10.10.30.00.10.1−0.1−0.00.10.10.00.0−0.10.00.0−0.2
Free cash flow $B◌◌◌◌◌◌◌◌◌◌◌◌0.0−0.20.2−0.0−0.10.1
EPS, diluted $15.8210.244.966.5216.432.727.693.72−4.99−1.733.343.872.702.26−6.511.231.55−11.55
Dividend / sh $5.703.503.656.906.802.002.513.121.250.000.00◌◌◌◌◌◌◌
Payout %4141999736703283−31−00———————
ROE %21.715.78.010.529.45.215.98.3−8.5−2.86.58.16.15.7−13.33.14.0−24.5
Shares out B0.020.020.020.010.010.010.010.010.010.010.010.020.010.020.020.010.02◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

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Provenance

Company facts, as filed

How we verify · 3 failures · 6 divergences in 53 reconciliationsAUDITED

Reconciled in 9 of the 18 fiscal years we could check. 6 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. Two checks were skipped: the balance sheet is not tagged before 2009. One check was skipped: EPS is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency3 failures6 divergent
ActivitySecurity Brokers, Dealers & Flotation Companies
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2008

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