# Piper Sandler Companies: overview

PIPR · NYSE · CIK 1230245 · [Financials](/sectors/financials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/pipr.md) · [Financials](/companies/pipr/financials.md) · [Filings](/companies/pipr/filings.md) · [Insiders](/companies/pipr/insiders.md)

Latest reported revenue: [$473.1m](/filings/0001230245-26-000032.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 5, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001230245-26-000032).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [361](/filings/0001230245-26-000013.md) | [485](/filings/0001230245-26-000013.md) | [378](/filings/0001230245-26-000022.md) | [395](/filings/0001230245-26-000032.md) | [480](/filings/0001230245-26-000013.md) | [667](/filings/0001230245-26-000013.md) | [459](/filings/0001230245-26-000022.md) | [473](/filings/0001230245-26-000032.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | [9.6%](/filings/0001230245-26-000013.md) | [14.2%](/filings/0001230245-26-000013.md) | [17.2%](/filings/0001230245-26-000022.md) | [10.7%](/filings/0001230245-26-000032.md) | [12.6%](/filings/0001230245-26-000013.md) | [17.1%](/filings/0001230245-26-000013.md) | [14.2%](/filings/0001230245-26-000022.md) | [14.3%](/filings/0001230245-26-000032.md) |
| Diluted EPS | $ per share | [1.96](/filings/0001230245-26-000013.md) | [3.86](/filings/0001230245-26-000013.md) | [0.91](/filings/0001230245-26-000022.md) | [0.59](/filings/0001230245-26-000032.md) | [3.38](/filings/0001230245-26-000013.md) | [6.40](/filings/0001230245-26-000013.md) | [0.92](/filings/0001230245-26-000022.md) | [0.95](/filings/0001230245-26-000032.md) |
| Free cash flow | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [2,042](/filings/0001230245-24-000038.md) | [1,435](/filings/0001230245-25-000038.md) | [1,301](/filings/0001230245-26-000013.md) | [1,507](/filings/0001230245-26-000013.md) | [1,834](/filings/0001230245-26-000013.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | [13.6%](/filings/0001230245-24-000038.md) | [7.7%](/filings/0001230245-25-000038.md) | [6.6%](/filings/0001230245-26-000013.md) | [12.0%](/filings/0001230245-26-000013.md) | [15.3%](/filings/0001230245-26-000013.md) |
| Diluted EPS | $ per share | [16.43](/filings/0001230245-24-000038.md) | [6.52](/filings/0001230245-25-000038.md) | [4.96](/filings/0001230245-26-000013.md) | [10.24](/filings/0001230245-26-000013.md) | [15.82](/filings/0001230245-26-000013.md) |
| Free cash flow | $m | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/pipr/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $799.3m | 11,048,611 |  | Added +619,664 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $375.2m | 5,186,683 |  | Added +53,150 |
| [Invesco Ltd.](/funds/914208.md) | 2026-06-30 | $227.3m | 3,141,984 |  | Added +532,679 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $219.8m | 3,038,326 |  | Added +15,640 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $211.2m | 2,919,922 |  | Added +133,861 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $126.0m | 1,741,263 |  | Added +109,798 |
| [GOLDMAN SACHS GROUP INC](/funds/886982.md) | 2026-06-30 | $116.9m | 1,616,193 |  | Added +148,698 |
| [DIMENSIONAL FUND ADVISORS LP](/funds/354204.md) | 2026-06-30 | $103.0m | 1,424,002 |  | Added +48,437 |
| [North Reef Capital Management LP](/funds/1867831.md) | 2026-06-30 | $97.7m | 1,350,000 |  | Added +385,368 |
| [WESTWOOD HOLDINGS GROUP INC](/funds/1165002.md) | 2026-06-30 | $89.5m | 1,237,090 |  | Added +125,428 |

## Recent filings

[All 1,777 filings](/companies/pipr/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-30 | 08:06 ET | [8-K](/filings/0001230245-26-000038.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001230245-26-000038 |
| 2026-09-22 | 09:11 ET | [8-K](/filings/0001230245-26-000034.md) | 5.02 Departure or appointment of officers or directors; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001230245-26-000034 |
| 2026-08-05 | 14:19 ET | [10-Q](/filings/0001230245-26-000032.md) | Quarterly report, period 2026-06-30 | 0001230245-26-000032 |
| 2026-07-30 | 08:05 ET | [8-K](/filings/0001230245-26-000029.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001230245-26-000029 |
| 2026-05-21 | 14:08 ET | [8-K](/filings/0001230245-26-000025.md) | 5.07 Shareholder vote results | 0001230245-26-000025 |
| 2026-05-07 | 12:32 ET | [10-Q](/filings/0001230245-26-000022.md) | Quarterly report, period 2026-03-31 | 0001230245-26-000022 |
| 2026-05-01 | 07:34 ET | [8-K](/filings/0001230245-26-000019.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001230245-26-000019 |
| 2026-04-09 | 06:01 ET | [DEF 14A](/filings/0001104659-26-041101.md) | Proxy statement, period 2026-05-20 | 0001104659-26-041101 |
| 2026-03-23 | 16:30 ET | [8-K](/filings/0001104659-26-033351.md) | 5.03 Amendment to articles or bylaws; 8.01 Other events; 9.01 Financial statements and exhibits | 0001104659-26-033351 |
| 2026-02-26 | 14:02 ET | [10-K](/filings/0001230245-26-000013.md) | Annual report, period 2025-12-31 | 0001230245-26-000013 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001230245-26-000013.md), filed Feb 26, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/27fcd44d-0ba2-4fc5-a605-f887722c7cc4)

## About the filer

- CIK: 1230245
- Tickers: PIPR
- Exchange: NYSE
- SIC code: 6211 Security Brokers, Dealers & Flotation Companies
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 30, 2026, 08:07 ET. No prices; not investment advice.