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Piper Sandler Companies (PIPR) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

NYSE · DATA UPDATED 2026-08-19

Piper Sandler Companies (PIPR) operates in the NYSE industry and is headquartered in Minneapolis, United States with about 1,915 employees. Its market capitalization is roughly $5 billion. In the fiscal year ended 2025-12-31, PIPR reported $1.9B in revenue and $281M in net income.

Piper 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.

Interactive charts & full statements → Open the PIPR valuation workbench →

PIPR Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$2.1B	$1.9B	$1.5B	$1.3B	$1.4B	$2.0B	$1.2B	$810M	$724M	$836M	$762M	$689M	$666M	$542M	$500M	$444M	$503M	$487M	$314M	$528M	$537M
Gross Profit	$2.0B	$1.8B	$1.5B	$1.3B	$1.4B	$2.0B	$1.2B	$799M	$708M	$815M	$740M	$665M	$641M	$517M	$481M	$423M	$469M	$469M	$295M	$504M	$505M
Gross Margin %	96.5%	93.6%	99.6%	99.2%	99.3%	99.5%	98.8%	98.6%	97.7%	97.6%	97.0%	96.6%	96.2%	95.4%	96.2%	95.3%	93.1%	96.3%	94.0%	95.5%	94.0%
Operating Income (EBIT)	$487M	$386M	$218M	$123M	$134M	$442M	$69M	$119M	$72M	$79M	($31M)	$86M	$110M	$76M	$69M	($80M)	$54M	$57M	($224M)	$30M	$33M
Operating Margin %	23.2%	20.2%	14.7%	9.4%	9.7%	22.3%	5.7%	14.7%	10.0%	9.5%	-4.0%	12.6%	16.6%	14.0%	13.8%	-18.1%	10.7%	11.6%	-71.3%	5.8%	6.2%
Net Income	$307M	$281M	$181M	$85M	$111M	$279M	$41M	$112M	$57M	($62M)	($22M)	$52M	$63M	$45M	$41M	($102M)	$24M	$30M	($183M)	$22M	$195M
Net Margin %	14.6%	14.8%	12.2%	6.5%	8.0%	14.1%	3.4%	13.8%	7.9%	-7.4%	-2.9%	7.6%	9.5%	8.3%	8.2%	-23.0%	4.8%	6.2%	-58.4%	4.2%	36.4%
EBITDA	$516M	$413M	$245M	$160M	$165M	$484M	$124M	$138M	$91M	$102M	($3M)	$99M	$125M	$89M	$84M	($65M)	$69M	$66M	($212M)	$42M	$48M
Earnings Per Share (EPS)	$4.31	$3.95	$2.56	$1.24	$1.63	$4.11	$0.68	$2.00	$4.25	$-1.21	$-0.43	$0.90	$1.05	$0.75	$0.66	$-1.63	$0.40	$0.47	$-2.89	$0.30	$2.58
Shares Outstanding (M)	71M	71M	71M	69M	68M	68M	60M	56M	13M	51M	51M	58M	60M	60M	62M	63M	62M	64M	63M	72M	76M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PIPR Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$496M	$475M	$667M	$462M	$394M	$348M	$468M	$350M
Gross Profit	$474M	$456M	$635M	$462M	$392M	$347M	$467M	$348M
Gross Margin %	95.5%	96.0%	95.2%	99.8%	99.5%	99.6%	99.7%	99.6%
Operating Income (EBIT)	$101M	$89M	$190M	$107M	$49M	$29M	$82M	$56M
Operating Margin %	20.4%	18.7%	28.5%	23.2%	12.4%	8.5%	17.5%	15.9%
Net Income	$68M	$65M	$114M	$60M	$42M	$65M	$69M	$35M
Net Margin %	13.7%	13.7%	17.1%	13.0%	10.7%	18.7%	14.8%	10.0%
EBITDA	$108M	$95M	$198M	$114M	$55M	$36M	$89M	$62M
Earnings Per Share (EPS)	$0.95	$0.92	$1.60	$0.85	$0.59	$0.90	$0.97	$0.49
Shares Outstanding (M)	71M	71M	71M	71M	71M	72M	71M	71M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PIPR Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$624M	$732M	$313M	$276M	($225M)	$707M	$780M	$68M	$510M	$232M	$49M	$380M	($50M)	$47M	($212M)	$203M	($27M)	($117M)	$62M	$135M	($72M)
Capital Expenditures (CapEx)	$19M	$35M	$15M	$10M	$31M	$21M	$18M	$7M	$16M	$8M	$11M	$6M	$7M	$5M	$2M	$8M	$12M	$4M	$2M	$10M	$8M
Free Cash Flow (FCF)	$604M	$698M	$298M	$266M	($256M)	$687M	$762M	$61M	$494M	$224M	$38M	$374M	($57M)	$41M	($214M)	$196M	($39M)	($120M)	$60M	$126M	($81M)
FCF Margin %	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Dividends Paid	$141M	$114M	$74M	$84M	$108M	$99M	$28M	$36M	$47M	$19M	$19M	$19M	—	—	—	—	—	—	—	—	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PIPR Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$59M	($315M)	$847M	$32M	$32M	($207M)	$164M	$80M
Capital Expenditures (CapEx)	$8M	$2M	$3M	$6M	$14M	$11M	$8M	$2M
Free Cash Flow (FCF)	$51M	($317M)	$844M	$26M	$18M	($218M)	$155M	$78M
FCF Margin %	—	—	—	—	—	—	—	—
Dividends Paid	$14M	$101M	$15M	$12M	$17M	$70M	$13M	$11M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PIPR Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$2.3B	$2.6B	$2.3B	$2.1B	$2.2B	$2.6B	$2.0B	$1.6B	$1.3B	$2.0B	$2.1B	$2.1B	$2.6B	$2.3B	$2.1B	$1.7B	$2.0B	$1.7B	$1.3B	$1.7B	$1.9B
Cash & Cash Equivalents	$304M	$809M	$483M	$383M	$366M	$971M	$508M	$250M	$50M	$34M	$41M	$190M	$16M	$124M	$105M	$86M	$51M	$62M	$78M	$202M	$70M
Total Liabilities	$759M	$1.0B	$840M	$842M	$928M	$1.3B	$1.1B	$822M	$615M	$1.3B	$1.3B	$1.3B	$1.7B	$1.4B	$1.3B	$905M	$1.2B	$925M	$572M	$811M	$927M
Total Debt (Short + Long-Term)	$15M	$15M	$10M	$70M	$235M	$215M	$294M	$225M	$100M	$415M	$594M	$621M	$503M	$515M	$477M	$309M	$319M	$90M	$9M	$0M	$0M
Total Shareholders' Equity	$1.4B	$1.4B	$1.2B	$1.1B	$1.1B	$1.1B	$829M	$731M	$730M	$693M	$759M	$784M	$820M	$735M	$733M	$718M	$813M	$779M	$748M	$913M	$924M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive PIPR viewer.

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