What is Piper Sandler Co`S's earnings per share (EPS)?

Piper Sandler Co`S (PIPR) reported diluted earnings per share of $15.82 for fiscal year 2025. This represents a 54.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Piper Sandler Co`S Financials

PIPR

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Piper Sandler Co`S (PIPR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 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).

Rhea AI PIPR FY2025 2026-04-22

Piper Sandler's profit engine is cyclical, but cash reserves rebuild quickly when revenue conditions improve.

Over the past two annual reports, net margin rose from 7.3% to 14.8%, showing the rebound came with real expense absorption, not just a busier year. That quality shows up in cash: operating cash flow reached $586.6M against $281.3M of net income, so earnings translated into liquidity fast enough to fund payouts and still rebuild cash reserves.

Balance-sheet flexibility improved meaningfully as cash more than doubled from $365.6M to $809.4M across the recovery, while long-term debt disappeared from disclosure after the downturn. That means the business was able to strengthen its funding cushion without depending on new borrowing, even as it kept returning capital.

The lean year showed why cash flow matters more than reported profit here: the company still earned $101.2M but used -$224.9M of operating cash. The return to positive cash generation afterward suggests working-capital and accrual swings can temporarily distort earnings, making the cash statement the cleaner read on how much financial capacity the business actually produced.

Financial Health Signals

Financial Profile 33/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). 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.

Growth

Piper Sandler Co`S's revenue surged 24.5% year-over-year to $1.9B, reflecting rapid business expansion. This strong growth earns a score of 65/100.

Leverage

Piper Sandler Co`S carries a low D/E ratio of 0.74, meaning only $0.74 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 87/100, indicating a strong balance sheet with room for future borrowing.

Returns

Piper Sandler Co`S's ROE of 20.5% shows moderate profitability relative to equity, earning a score of 48/100. This is up from 14.8% the prior year.

Piotroski F-Score Neutral

5/9

Piper Sandler Co`S passes 5 of 9 financial strength tests. 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.

Earnings Quality Cash-Backed

2.09x

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

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Earnings & Revenue

Revenue

$1.9B

YoY+24.5%

5Y CAGR+8.9%

10Y CAGR+10.9%

Piper Sandler Co`S generated $1.9B in revenue in fiscal year 2025. This represents an increase of 24.5% from the prior year.

EBITDA

N/A

Net Income

$281.3M

YoY+55.3%

5Y CAGR+47.3%

10Y CAGR+18.4%

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.

EPS (Diluted)

$15.82

YoY+54.5%

5Y CAGR+42.2%

10Y CAGR+16.8%

Piper Sandler Co`S earned $15.82 per diluted share (EPS) in fiscal year 2025. This represents an increase of 54.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$809.4M

YoY+67.6%

5Y CAGR+9.8%

10Y CAGR+15.6%

Piper Sandler Co`S held $809.4M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$5.70

YoY+62.9%

5Y CAGR+23.3%

Piper Sandler Co`S paid $5.70 per share in dividends in fiscal year 2025. This represents an increase of 62.9% from the prior year.

Shares Outstanding

17M

YoY+4.7%

5Y CAGR+4.1%

10Y CAGR+2.4%

Piper Sandler Co`S had 17M shares outstanding in fiscal year 2025. This represents an increase of 4.7% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

14.8%

YoY+2.9pp

5Y CAGR+11.5pp

10Y CAGR+7.1pp

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.

Return on Equity

20.5%

YoY+5.8pp

5Y CAGR+15.6pp

10Y CAGR+13.9pp

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.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$125.0M

YoY+88.2%

5Y CAGR+41.6%

10Y CAGR-0.6%

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.

Capital Expenditures

N/A

PIPR Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.9B+24.5%	$1.5B+13.2%	$1.3B-5.4%	$1.4B-29.8%	$2.0B+64.0%	$1.2B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$1.2B+18.1%	$1.0B+11.9%	$897.0M-8.8%	$983.5M-24.6%	$1.3B+48.7%	$877.5M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$80.6M+32.2%	$61.0M+158.2%	$23.6M-28.9%	$33.2M-70.1%	$111.1M+479.1%	$19.2M
Net Income	$281.3M+55.3%	$181.1M+83.0%	$99.0M-2.2%	$101.2M-69.4%	$330.4M+715.6%	$40.5M
EPS (Diluted)	$15.82+54.5%	$10.24+106.5%	$4.96-23.9%	$6.52-60.3%	$16.43+504.0%	$2.72

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$666.0M+39.0%	$479.3M+20.8%	$396.8M+11.1%	$357.3M-26.2%	$484.1M+34.6%	$359.6M+6.0%	$339.2M-1.1%	$343.1M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$477.3M+65.2%	$288.9M+11.9%	$258.2M+3.9%	$248.5M-38.2%	$402.0M+74.0%	$231.0M-1.6%	$234.7M+5.5%	$222.4M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	$24.9M+45.3%	$17.2M+334.1%	-$7.3M-124.8%	$29.6M+94.6%	$15.2M+14.7%	$13.3M+366.8%	$2.8M
Net Income	$114.0M+89.1%	$60.3M+42.9%	$42.2M-35.0%	$64.9M-6.0%	$69.1M+98.5%	$34.8M0.0%	$34.8M-18.2%	$42.5M
EPS (Diluted)	$6.40+89.3%	$3.38+42.0%	$2.38-34.8%	$3.65-5.4%	$3.86+96.9%	$1.96-0.5%	$1.97-18.9%	$2.43

PIPR Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$2.6B+14.9%	$2.3B+5.4%	$2.1B-1.9%	$2.2B-15.0%	$2.6B+28.4%	$2.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$809.4M+67.6%	$482.8M+26.0%	$383.1M+4.8%	$365.6M-62.3%	$971.0M+91.2%	$507.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$319.3M+2.3%	$312.0M+3.4%	$301.8M+0.2%	$301.2M+32.4%	$227.5M0.0%	$227.5M
Total Liabilities	$1.0B+20.2%	$840.2M-0.2%	$841.5M-9.3%	$927.5M-30.7%	$1.3B+25.0%	$1.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	$0-100.0%	$125.0M0.0%	$125.0M-35.9%	$195.0M
Total Equity	$1.4B+11.7%	$1.2B+13.1%	$1.1B+3.0%	$1.1B-0.8%	$1.1B+28.1%	$829.4M
Retained Earnings	$728.9M+29.8%	$561.7M+23.6%	$454.4M+0.2%	$453.3M+0.7%	$450.2M+66.1%	$271.0M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$2.6B+16.8%	$2.2B+13.3%	$2.0B+7.6%	$1.8B-19.3%	$2.3B+11.0%	$2.0B+5.8%	$1.9B+5.4%	$1.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$809.4M+610.0%	$114.0M-7.6%	$123.3M-2.2%	$126.1M-73.9%	$482.8M+37.9%	$350.2M+9.1%	$320.9M+358.8%	$70.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$319.3M0.0%	$319.4M+2.4%	$311.9M0.0%	$311.9M0.0%	$312.0M+0.5%	$310.3M+2.8%	$301.8M0.0%	$301.8M
Total Liabilities	$1.0B+33.5%	$756.7M+35.2%	$559.7M+26.5%	$442.4M-47.3%	$840.2M+25.4%	$670.0M+15.7%	$579.3M+16.5%	$497.4M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.4B+6.9%	$1.3B+4.3%	$1.2B+1.4%	$1.2B-1.2%	$1.2B+5.2%	$1.2B+3.6%	$1.1B+2.3%	$1.1B
Retained Earnings	$728.9M+15.7%	$629.8M+8.3%	$581.5M+4.5%	$556.4M-1.0%	$561.7M+11.2%	$505.3M+5.0%	$481.2M+4.3%	$461.2M

PIPR Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$586.6M+87.3%	$313.3M+13.7%	$275.6M+222.6%	-$224.9M-131.8%	$707.1M-9.3%	$779.8M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$43.7M-37.4%	-$31.8M-216.0%	-$10.1M+92.1%	-$127.1M-517.7%	-$20.6M+95.3%	-$435.0M
Financing Cash Flow	-$218.7M-21.1%	-$180.6M+27.6%	-$249.6M+0.2%	-$250.1M-12.1%	-$223.1M-154.8%	-$87.6M
Dividends Paid	$114.1M+54.8%	$73.7M-12.7%	$84.4M-21.5%	$107.5M+8.2%	$99.3M+252.7%	$28.2M
Share Buybacks	$125.0M+88.2%	$66.4M-6.0%	$70.7M-62.3%	$187.3M+168.0%	$69.9M+218.2%	$22.0M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$729.8M+2187.2%	$31.9M-0.7%	$32.1M+115.5%	-$207.2M-226.5%	$163.8M+104.5%	$80.1M-69.9%	$266.5M+235.1%	-$197.2M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$3.3M+77.8%	-$15.0M-5.3%	-$14.2M-27.5%	-$11.1M-31.6%	-$8.5M+54.6%	-$18.6M-452.0%	-$3.4M-164.9%	-$1.3M
Financing Cash Flow	-$31.3M-23.9%	-$25.2M-11.3%	-$22.7M+83.8%	-$139.6M-621.6%	-$19.3M+44.7%	-$35.0M-193.1%	-$11.9M+89.6%	-$114.4M
Dividends Paid	$14.9M+24.6%	$11.9M-30.2%	$17.1M-75.7%	$70.3M+457.1%	$12.6M+18.2%	$10.7M-27.9%	$14.8M-58.5%	$35.7M
Share Buybacks	$19.8M+439.6%	$3.7M-82.4%	$20.9M-74.1%	$80.6M+1148.9%	$6.5M+170.9%	$2.4M-56.6%	$5.5M-89.4%	$52.1M

PIPR Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	14.8%+2.9pp	11.9%+4.5pp	7.3%+0.2pp	7.1%-9.2pp	16.3%+13.0pp	3.3%
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%
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%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.74+0.1	0.68+0.7	0.00-0.1	0.120.0	0.12-0.1	0.24
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	17.1%+4.5pp	12.6%+1.9pp	10.6%-7.5pp	18.2%+3.9pp	14.3%+4.6pp	9.7%-0.6pp	10.3%-2.1pp	12.4%
Return on Equity	8.3%+3.6pp	4.7%+1.3pp	3.4%-1.9pp	5.3%-0.3pp	5.6%+2.6pp	3.0%-0.1pp	3.1%-0.8pp	3.9%
Return on Assets	4.4%+1.7pp	2.7%+0.6pp	2.1%-1.4pp	3.6%+0.5pp	3.1%+1.3pp	1.7%-0.1pp	1.8%-0.5pp	2.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.74+0.1	0.59+0.1	0.46+0.1	0.36-0.3	0.68+0.1	0.57+0.1	0.51+0.1	0.45
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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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.

Does Piper Sandler Co`S buy back shares?

Yes, Piper Sandler Co`S (PIPR) spent $125.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Piper Sandler Co`S have outstanding?

Piper Sandler Co`S (PIPR) had 17M shares outstanding as of fiscal year 2025.

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 9, indicating neutral financial health. 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 33 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.