Piper Sandler Co`S Financials
Piper Sandler Co`S (PIPR) reported $1.9B in revenue for fiscal year 2025, up 24.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cash conversion and a leaner expense mix are doing more of the work than pure top-line recovery.
The least obvious shift is earnings quality: FY2022 paired$101M of net income with-$225M of operating cash flow. By FY2023-FY2025, the business produced$1.18B of operating cash flow against$561M of net income, so the recovery was arriving in cash, not only on the income statement.
This is a people-cost business, so the most revealing operating question is how much revenue is consumed by compensation-like overhead rather than inventory. SG&A fell from
The balance sheet has become more self-funding: cash rose from
Financial Health Signals
Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Piper Sandler Co`S's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Piper Sandler Co`S, and counted as zero in the overall score.
Piper Sandler Co`S passes 5 of 6 computable financial strength tests (3 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Piper Sandler Co`S generates $2.09 in operating cash flow ($586.6M OCF vs $281.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Piper Sandler Co`S generated $1.9B in revenue in fiscal year 2025. This represents an increase of 24.5% from the prior year.
Piper Sandler Co`S reported $281.3M in net income in fiscal year 2025. This represents an increase of 55.3% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Piper Sandler Co`S held $809.4M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Piper Sandler Co`S paid $5.70 per share in dividends in fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Piper Sandler Co`S's net profit margin was 14.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.9 percentage points from the prior year.
Piper Sandler Co`S's ROE was 20.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 5.8 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Piper Sandler Co`S spent $125.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 88.2% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
PIPR Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.1B | $1.9B+24.5% | $1.5B+13.2% | $1.3B-5.4% | $1.4B-29.8% | $2.0B+64.0% | $1.2B+48.4% | $834.6M+12.6% | $741.0M-10.0% | $823.6M+10.2% | $747.3M+11.1% | $672.9M+3.8% | $648.1M+23.4% | $525.2M+7.4% | $489.0M+13.2% | $432.1M |
| SG&A Expenses | $1.4B | $1.2B+18.1% | $1.0B+11.9% | $897.0M-8.8% | $983.5M-24.6% | $1.3B+48.7% | $877.5M+70.0% | $516.1M+5.7% | $488.5M-17.2% | $589.6M+15.5% | $510.6M+21.1% | $421.7M+6.9% | $394.5M+22.3% | $322.5M+8.6% | $296.9M+12.0% | $265.0M |
| Income Tax | N/A | $80.6M+32.2% | $61.0M+158.2% | $23.6M-28.9% | $33.2M-70.1% | $111.1M+479.1% | $19.2M-21.9% | $24.6M+36.2% | $18.0M-66.5% | $53.8M+414.2% | -$17.1M-161.3% | $27.9M-22.4% | $36.0M+76.5% | $20.4M+4.7% | $19.5M+113.5% | $9.1M |
| Net Income | $307.3M | $281.3M+55.3% | $181.1M+83.0% | $99.0M-2.2% | $101.2M-69.4% | $330.4M+715.6% | $40.5M-63.7% | $111.7M+95.9% | $57.0M+192.1% | -$61.9M-182.2% | -$22.0M-142.2% | $52.1M-17.6% | $63.2M+40.1% | $45.1M+9.3% | $41.3M+140.5% | -$102.0M |
| EPS (Diluted) | — | $15.82 | $10.24+106.5% | $4.96-23.9% | $6.52-60.3% | $16.43+504.0% | $2.72-64.6% | $7.69+106.7% | $3.72+174.5% | -$4.99-188.4% | -$1.73-151.8% | $3.34-13.7% | $3.87+43.3% | $2.70+19.5% | $2.26+134.7% | -$6.51 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, Interest Expense.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
PIPR Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.6B+14.9% | $2.3B+5.4% | $2.1B-1.9% | $2.2B-15.0% | $2.6B+28.4% | $2.0B+22.6% | $1.6B+21.1% | $1.3B-33.6% | $2.0B-4.7% | $2.1B-0.6% | $2.1B-18.5% | $2.6B+13.2% | $2.3B+11.0% | $2.1B+26.1% | $1.7B |
| Cash & Equivalents | $809.4M+67.6% | $482.8M+26.0% | $383.1M+4.8% | $365.6M-62.3% | $971.0M+91.2% | $507.9M+103.2% | $250.0M+396.4% | $50.4M+49.0% | $33.8M-52.0% | $70.4M-62.9% | $189.9M+1096.9% | $15.9M-87.2% | $123.7M+17.4% | $105.4M+23.9% | $85.0M |
| Goodwill | $319.3M+2.3% | $312.0M+3.4% | $301.8M+0.2% | $301.2M+32.4% | $227.5M0.0% | $227.5M+159.6% | $87.6M+7.1% | $81.9M0.0% | $81.9M-58.3% | $196.2M-10.0% | $218.0M+2.9% | $211.9M+0.6% | $210.6M+7.0% | $196.8M0.0% | $196.8M |
| Total Liabilities | $1.0B+20.2% | $840.2M-0.2% | $841.5M-9.3% | $927.5M-30.7% | $1.3B+25.0% | $1.1B+30.3% | $822.2M+33.7% | $614.9M-52.1% | $1.3B-2.0% | $1.3B+0.3% | $1.3B-21.1% | $1.7B+15.2% | $1.4B+10.7% | $1.3B+43.4% | $905.1M |
| Long-Term Debt | N/A | N/A | $0-100.0% | $125.0M0.0% | $125.0M-35.9% | $195.0M+11.4% | $175.0M | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% | $115.0M |
| Total Equity | $1.4B+11.7% | $1.2B+13.1% | $1.1B+3.0% | $1.1B-0.8% | $1.1B+28.1% | $829.4M+13.4% | $731.3M+7.9% | $677.4M-2.3% | $693.3M-8.7% | $759.3M-3.1% | $783.7M-4.4% | $819.9M+11.6% | $734.7M+0.2% | $733.3M+2.1% | $718.4M |
| Retained Earnings | $728.9M+29.8% | $561.7M+23.6% | $454.4M+0.2% | $453.3M+0.7% | $450.2M+66.1% | $271.0M+4.8% | $258.7M+41.7% | $182.6M+3.6% | $176.3M-31.5% | $257.2M-7.9% | $279.1M+22.9% | $227.1M+38.5% | $163.9M+38.0% | $118.8M+53.2% | $77.5M |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities.
PIPR Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $506.2M | $586.6M+87.3% | $313.3M+13.7% | $275.6M+222.6% | -$224.9M-131.8% | $707.1M-9.3% | $779.8M+1050.1% | $67.8M-86.7% | $509.8M+151.1% | $203.0M+6394.6% | -$3.2M-100.8% | $379.5M+858.0% | -$50.1M-218.8% | $42.2M+119.9% | -$211.8M-203.1% | $205.3M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $5.5M+157.0% | $2.1M-72.1% | $7.6M |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $36.7M+117.2% | -$213.9M-208.2% | $197.7M |
| Investing Cash Flow | -$29.4M | -$43.7M-37.4% | -$31.8M-216.0% | -$10.1M+92.1% | -$127.1M-517.7% | -$20.6M+95.3% | -$435.0M-1729.7% | $26.7M+268.9% | -$15.8M-97.7% | -$8.0M+90.5% | -$83.7M-418.3% | -$16.2M-199.9% | -$5.4M+82.0% | -$30.0M-1305.5% | -$2.1M+72.3% | -$7.7M |
| Financing Cash Flow | -$293.8M | -$218.7M-21.1% | -$180.6M+27.6% | -$249.6M+0.2% | -$250.1M-12.1% | -$223.1M-154.8% | -$87.6M-183.7% | $104.7M+122.0% | -$476.8M-104.5% | -$233.1M-109.0% | -$111.6M+41.0% | -$189.0M-263.3% | -$52.0M-997.2% | $5.8M-97.5% | $234.3M+244.0% | -$162.7M |
| Dividends Paid | $141.9M | $114.1M+54.8% | $73.7M-12.7% | $84.4M-21.5% | $107.5M+8.2% | $99.3M+252.7% | $28.2M-20.9% | $35.6M-24.5% | $47.2M+148.9% | $18.9M | $0 | $0 | N/A | N/A | N/A | N/A |
| Share Buybacks | $124.4M | $125.0M+88.2% | $66.4M-6.0% | $70.7M-62.3% | $187.3M+168.0% | $69.9M+218.2% | $22.0M-56.6% | $50.6M-28.7% | $70.9M+178.3% | $25.5M-64.0% | $70.9M-46.7% | $132.9M+1124.7% | $10.9M-84.8% | $71.5M+51.5% | $47.2M+77.8% | $26.5M |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
PIPR Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 14.8%+2.9pp | 11.9%+4.5pp | 7.3%+0.2pp | 7.1%-9.2pp | 16.3%+13.0pp | 3.3%-10.1pp | 13.4%+5.7pp | 7.7%+15.2pp | -7.5%-4.6pp | -2.9%-10.7pp | 7.7%-2.0pp | 9.8%+1.2pp | 8.6%+0.2pp | 8.4%+32.0pp | -23.6% |
| Return on Equity | 20.5%+5.8pp | 14.8%+5.6pp | 9.1%-0.5pp | 9.6%-21.5pp | 31.1%+26.2pp | 4.9%-10.4pp | 15.3%+6.9pp | 8.4%+17.3pp | -8.9%-6.0pp | -2.9%-9.5pp | 6.7%-1.0pp | 7.7%+1.6pp | 6.1%+0.5pp | 5.6%+19.8pp | -14.2% |
| Return on Assets | 10.8%+2.8pp | 8.0%+3.4pp | 4.6%0.0pp | 4.6%-8.2pp | 12.9%+10.8pp | 2.0%-4.8pp | 6.9%+2.6pp | 4.2%+7.3pp | -3.1%-2.0pp | -1.0%-3.5pp | 2.4%0.0pp | 2.4%+0.5pp | 1.9%0.0pp | 2.0%+8.1pp | -6.2% |
| Debt-to-Equity | 0.74+0.1x | 0.68+0.7x | 0.00-0.1x | 0.120.0x | 0.12-0.1x | 0.240.0x | 0.24-0.7x | 0.91-0.9x | 1.85+0.1x | 1.72+0.1x | 1.67-0.4x | 2.02+0.1x | 1.95+2.0x | 0.00-0.2x | 0.16 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 7.0%+50.7pp | -43.8%-89.5pp | 45.8% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.
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Where Piper Sandler Co`S Ranks
Frequently Asked Questions
What is Piper Sandler Co`S's annual revenue?
Piper Sandler Co`S (PIPR) reported $1.9B in total revenue for fiscal year 2025. This represents a 24.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Piper Sandler Co`S's revenue growing?
Piper Sandler Co`S (PIPR) revenue grew by 24.5% year-over-year, from $1.5B to $1.9B in fiscal year 2025.
Is Piper Sandler Co`S profitable?
Yes, Piper Sandler Co`S (PIPR) reported a net income of $281.3M in fiscal year 2025, with a net profit margin of 14.8%.
What is Piper Sandler Co`S's net profit margin?
Piper Sandler Co`S (PIPR) had a net profit margin of 14.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Piper Sandler Co`S pay dividends?
Yes, Piper Sandler Co`S (PIPR) paid $5.70 per share in dividends during fiscal year 2025.
What is Piper Sandler Co`S's return on equity (ROE)?
Piper Sandler Co`S (PIPR) has a return on equity of 20.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Piper Sandler Co`S's operating cash flow?
Piper Sandler Co`S (PIPR) generated $586.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Piper Sandler Co`S's total assets?
Piper Sandler Co`S (PIPR) had $2.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Piper Sandler Co`S's debt-to-equity ratio?
Piper Sandler Co`S (PIPR) had a debt-to-equity ratio of 0.74 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Piper Sandler Co`S's return on assets (ROA)?
Piper Sandler Co`S (PIPR) had a return on assets of 10.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Piper Sandler Co`S's Piotroski F-Score?
Piper Sandler Co`S (PIPR) has a Piotroski F-Score of 5 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Piper Sandler Co`S's earnings high quality?
Piper Sandler Co`S (PIPR) has an earnings quality ratio of 2.09x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Piper Sandler Co`S?
Piper Sandler Co`S (PIPR) scores 50 out of 100 on our Financial Health Score, indicating moderate standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.