A Business at a Glance
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PIPER SANDLER COMPANIES
PIPR
$5.4B
Mkt Cap
$76.09
+0.37%
PIPER SANDLER COMPANIES (PIPR) has a current P/E ratio of 4.8, compared to its historical median P/E of 20.6. The stock is currently considered Cheap based on its historical valuation range.
PIPER SANDLER COMPANIES (PIPR) has a 5-year average return on invested capital (ROIC) of 15.9%. This indicates strong capital allocation and a potential competitive advantage.
PIPER SANDLER COMPANIES (PIPR) has a market capitalization of $5.2B. It is classified as a mid-cap stock.
Yes, PIPER SANDLER COMPANIES (PIPR) pays a dividend with a trailing twelve-month yield of 2.80%. The company also returns capital through share buybacks, with a buyback yield of 2.21%.
Based on historical P/E analysis, PIPER SANDLER COMPANIES (PIPR) appears cheap. The current P/E of 4.8 is 77% below its historical median of 20.6. The estimated fair value CAGR (P/E method) is 12.5%.
PIPER SANDLER COMPANIES (PIPR) operates in the Security Brokers, Dealers & Flotation Companies industry, within the Financials sector.
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 ("U.S.") and internationally. Founded in 1895, Piper Sandler Companies provides a broad set of products and services, including financial advisory services; equity and debt capital markets products; public finance services; institutional brokerage services; fundamental equity and macro research services; fixed income services; and alternative asset management strategies. Our headquarters are located in Minneapolis, Minnesota and we have offices across the U.S. and international locations in London, Aberdeen, Munich, Paris, Zurich, Abu Dhabi Global Markets ("ADGM") and Hong Kong.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.0B | 1.9B | 1.5B | 1.4B | 1.4B | 2.0B |
| Net Income | 282M | 281M | 181M | 85M | 111M | 279M |
| EPS | $13.85 | $3.96 | $2.56 | $1.24 | $1.63 | $4.11 |
| Free Cash Flow | 476M | 552M | 298M | 266M | -256M | 687M |
| ROIC | 0.0% | 21.7% | 15.7% | 7.6% | 9.4% | 25.2% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.01 | 0.01 | 0.01 | 0.03 | 0.12 | 0.12 |
| Dividends/Share | $2.13 | $1.43 | $0.88 | $0.91 | $1.73 | $1.70 |
| Operating Income | 0 | 375M | 218M | 123M | 134M | 442M |
| Operating Margin | 0.0% | 19.7% | 14.3% | 9.0% | 9.4% | 21.6% |
| ROE | 21.0% | 21.7% | 15.7% | 8.0% | 10.5% | 29.4% |
| Shares Outstanding | 68M | 71M | 71M | 69M | 68M | 68M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 673M | 696M | 770M | 844M | 758M | 846M | 1.3B | 2.0B | 1.4B | 1.4B | 1.5B | 1.9B | 2.0B |
| Gross 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 | N/A |
| R&D | 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 |
| SG&A | 395M | 422M | 511M | 590M | 488M | 516M | 877M | 1.3B | 984M | 897M | 1.0B | 1.2B | 1.2B |
| EBIT | 110M | 86M | -31M | 79M | 72M | 119M | 69M | 442M | 134M | 123M | 218M | 375M | 0 |
| Op. Margin | 16.4% | 12.4% | -4.0% | 9.4% | 9.6% | 14.1% | 5.5% | 21.6% | 9.4% | 9.0% | 14.3% | 19.7% | 0.0% |
| Net Income | 63M | 52M | -22M | -62M | 57M | 112M | 41M | 279M | 111M | 85M | 181M | 281M | 282M |
| Net Margin | 9.4% | 7.5% | -2.9% | -7.3% | 7.5% | 13.2% | 3.2% | 13.6% | 7.7% | 6.3% | 11.8% | 14.8% | 13.9% |
| Non-Recurring | 0 | 9.4M | 92M | 114M | 3.5M | 7.5M | 6.4M | 3.7M | 6.3M | 7.7M | 42K | 4.7M | 4.7M |
| Returns on Capital | |||||||||||||
| ROIC | 7.9% | 5.9% | -2.6% | -8.5% | 8.3% | 14.1% | 4.2% | 25.2% | 9.4% | 7.6% | 15.7% | 21.7% | 0.0% |
| ROE | 8.1% | 6.5% | -2.8% | -8.5% | 8.3% | 15.9% | 5.2% | 29.4% | 10.5% | 8.0% | 15.7% | 21.7% | 21.0% |
| ROA | 2.6% | 2.2% | -1.0% | -3.0% | 3.4% | 7.5% | 2.2% | 12.2% | 4.7% | 4.0% | 8.2% | 11.6% | 13.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -50M | 380M | -3.2M | 203M | 510M | 68M | 780M | 707M | -225M | 276M | 313M | 587M | 502M |
| Free Cash Flow | -57M | 374M | -14M | 195M | 494M | 61M | 762M | 687M | -256M | 266M | 298M | 552M | 476M |
| Owner Earnings | -84M | 326M | -66M | 156M | 457M | 26M | 647M | 523M | -372M | 164M | 193M | 445M | 381M |
| CapEx | 7.4M | 5.9M | 11M | 8.0M | 16M | 6.5M | 18M | 21M | 31M | 10M | 15M | 35M | 26M |
| Maint. CapEx | 5.3M | 5.1M | 6.4M | 7.0M | 8.1M | 9.3M | 11M | 13M | 16M | 18M | 17M | 17M | 167K |
| Growth CapEx | 2.1M | 814K | 4.6M | 994K | 7.7M | 0 | 6.9M | 8.0M | 15M | 0 | 0 | 17M | 26M |
| D&A | 5.3M | 5.1M | 6.4M | 7.0M | 8.1M | 9.3M | 11M | 13M | 16M | 18M | 17M | 17M | 167K |
| CapEx/OCF | N/A | 1.6% | 22.6% | 4.0% | 3.1% | 9.6% | 2.3% | 2.9% | N/A | 3.6% | 4.9% | 5.9% | 5.1% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 19M | 47M | 36M | 28M | 99M | 108M | 84M | 74M | 114M | 145M |
| Dividend Yield | N/A | N/A | N/A | 0.8% | 1.2% | 1.0% | 0.8% | 1.3% | 1.3% | 0.9% | 0.4% | 0.5% | 2.8% |
| Share Buybacks | 11M | 133M | 71M | 25M | 71M | 51M | 22M | 70M | 187M | 71M | 66M | 125M | 114M |
| Buyback Yield | 1.5% | 27.6% | 9.9% | 3.1% | 8.7% | 5.3% | 1.7% | 2.5% | 8.9% | 2.4% | 1.3% | 2.0% | 2.2% |
| Stock-Based Comp | 29M | 49M | 56M | 40M | 44M | 32M | 122M | 171M | 131M | 94M | 103M | 124M | 121M |
| Debt Repayment | 137M | 68M | 27M | 129M | 125M | 0 | 0 | 70M | 0 | 125M | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 412M | 381M | 348M | 256M | -411K | -25M | -313M | -846M | -241M | -353M | -473M | -794M | -329M |
| Cash & Equiv. | 16M | 190M | 70M | 34M | 50M | 250M | 508M | 971M | 366M | 383M | 483M | 809M | 344M |
| Long-Term Debt | 50M | 125M | 0 | 0 | 0 | 175M | 195M | 125M | 125M | 0 | 0 | 0 | N/A |
| Debt/Equity | 0.52 | 0.73 | 0.55 | 0.42 | 0.07 | 0.31 | 0.24 | 0.12 | 0.12 | 0.03 | 0.01 | 0.01 | 0.01 |
| Interest Coverage | 0.2 | 0.1 | -0.0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 |
| Equity | 820M | 784M | 759M | 693M | 677M | 731M | 829M | 1.1B | 1.1B | 1.1B | 1.2B | 1.4B | 1.3B |
| Total Assets | 2.6B | 2.1B | 2.1B | 2.0B | 1.3B | 1.6B | 2.0B | 2.6B | 2.2B | 2.1B | 2.3B | 2.6B | 2.1B |
| Total Liabilities | 1.7B | 1.3B | 1.3B | 1.3B | 615M | 822M | 1.1B | 1.3B | 928M | 842M | 840M | 1.0B | 572M |
| Intangibles | 31M | 31M | 37M | 9.1M | 4.3M | 17M | 150M | 120M | 136M | 116M | 108M | 100M | 99M |
| Retained Earnings | 227M | 279M | 257M | 176M | 183M | 259M | 271M | 450M | 453M | 454M | 562M | 729M | 681M |
| Working Capital | 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 |
| Current Assets | 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 |
| Current Liabilities | 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 |
| Per Share Data | |||||||||||||
| EPS | 0.97 | 0.84 | -0.43 | -1.25 | 0.93 | 1.92 | 0.68 | 4.11 | 1.63 | 1.24 | 2.56 | 3.96 | 13.85 |
| Owner EPS | -1.29 | 5.22 | -1.29 | 3.15 | 7.46 | 0.46 | 10.87 | 7.71 | -5.47 | 2.38 | 2.73 | 6.26 | 5.62 |
| Book Value | 12.56 | 12.57 | 14.96 | 13.96 | 11.05 | 12.59 | 13.92 | 15.67 | 15.52 | 15.74 | 17.36 | 19.27 | 19.77 |
| Cash Flow/Share | -0.77 | 6.09 | -0.06 | 4.09 | 8.31 | 1.17 | 13.09 | 10.43 | -3.31 | 4.00 | 4.43 | 8.25 | 4.15 |
| Dividends/Share | N/A | 0.00 | 0.00 | 0.31 | 0.78 | 0.63 | 0.50 | 1.70 | 1.73 | 0.91 | 0.88 | 1.43 | 2.13 |
| Shares Out. | 65.3M | 62.4M | 50.8M | 49.7M | 61.3M | 58.1M | 59.6M | 67.8M | 67.9M | 68.9M | 70.7M | 71.1M | 67.9M |
| Valuation | |||||||||||||
| P/E Ratio | 11.4 | 9.3 | N/A | N/A | 14.2 | 8.6 | 31.9 | 10.1 | 19.1 | 34.3 | 28.8 | 22.1 | 5.5 |
| P/FCF | N/A | 5.2 | N/A | 17.0 | 6.6 | 62.7 | 6.8 | 16.3 | N/A | 44.2 | 70.1 | 45.1 | 10.8 |
| EV/EBIT | 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 |
| Price/Book | 0.9 | 0.6 | 0.9 | 1.2 | 1.2 | 1.3 | 1.6 | 2.6 | 2.0 | 2.7 | 4.3 | 4.5 | 3.8 |
| Price/Sales | 0.9 | 0.8 | 0.6 | 0.7 | 1.3 | 1.1 | 0.7 | 1.0 | 1.4 | 1.7 | 2.7 | 2.8 | 2.6 |
| FCF Yield | -7.9% | 77.5% | -2.0% | 23.9% | 60.8% | 6.4% | 59.1% | 24.5% | -12.1% | 9.0% | 5.7% | 8.9% | 9.2% |
| Market Cap | 723M | 482M | 718M | 818M | 812M | 961M | 1.3B | 2.8B | 2.1B | 2.9B | 5.2B | 6.2B | 5.2B |
| Avg. Price | 36.79 | 34.96 | 35.84 | 50.28 | 62.16 | 61.35 | 60.48 | 116.00 | 119.92 | 136.25 | 234.36 | 298.06 | 76.09 |
| Year-End Price | 44.27 | 30.90 | 56.59 | 66.92 | 52.99 | 66.15 | 86.67 | 165.21 | 124.39 | 170.29 | 295.21 | 350.07 | 76.09 |
PIPER SANDLER COMPANIES passes 6 of 9 quality checks, suggesting mixed fundamentals.
PIPER SANDLER COMPANIES trades at 4.8x trailing earnings, compared to its 15-year median P/E of 20.6x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 2.5x vs a median of 30.6x. The company's 5-year average ROIC is 15.9%. Total shareholder yield (dividends + buybacks) is 5.0%. At current prices, the estimated annualized return to fair value is -19.0%.
PIPER SANDLER COMPANIES (PIPR) reported annual revenue of $1.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
PIPER SANDLER COMPANIES (PIPR) has a net profit margin of 14.8%. This is a healthy margin.
PIPER SANDLER COMPANIES (PIPR) generated $552 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
PIPER SANDLER COMPANIES (PIPR) has a debt-to-equity ratio of 0.01. This indicates a conservatively financed balance sheet.
PIPER SANDLER COMPANIES (PIPR) reported earnings per share (EPS) of $3.96 in its most recent fiscal year.
PIPER SANDLER COMPANIES (PIPR) has a return on equity (ROE) of 21.7%. This indicates the company generates strong returns for shareholders.
The Ledger Terminal provides 16 years of financial data for PIPER SANDLER COMPANIES (PIPR), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
PIPER SANDLER COMPANIES (PIPR) has a book value per share of $19.27, based on its most recent annual SEC filing.