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Earnings transcript
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PIPR
Piper Sandler Companies
$75.2
0.76
(1.01%)
| Exchange: | NYSE |
| Market Cap: | 5.076B |
| Shares Outstanding: | 19.06M |
Delayed data
About The Company
| Sector: | Financial Services | |||||
| Industry: | Investment – Banking & Investment Services | |||||
| CEO: | Chad R. Abraham | |||||
| Full Time Employees: | 1858 | |||||
| Address: |
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| Website: | https://www.pipersandler.com |
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. It offers investment banking services, institutional sales, and trading services for various equity and fixed income products; research services; advisory services, such as mergers and acquisitions, equity and debt financings, equity and debt private placements, debt capital markets advisory, restructuring and private capital advisory; municipal financial advisory and loan placement services; and various over-the-counter derivative products, as well as underwrites municipal issuances. The company also provides public finance investment banking services that focus on state and local governments, special districts and development infrastructure, project finance, and cultural and social service non-profit entities, as well as the education, healthcare, hospitality, senior living, housing, and transportation sectors. In addition, it offers equity and fixed income advisory and trade execution services for institutional investors, corporations, and government and non-profit entities. Further, the company has alternative asset management funds in merchant banking and healthcare to invest firm capital and to manage capital from outside investors; equity and debt capital markets products; public finance services; institutional brokerage services; fundamental equity and macro research services; alternative asset management strategies; and fixed income sales and trading solutions to banks, registered investment advisors, public entities, credit unions, asset managers, and insurance companies. The company was formerly known as Piper Jaffray Companies and changed its name to Piper Sandler Companies in January 2020. Piper Sandler Companies was founded in 1895 and is headquartered in Minneapolis, Minnesota.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 1,309,952 | 1,481,268 | 1,904,217 |
| Gross Profit | 1,299,806 | 1,475,587 | 1,782,461 |
| EBITDA | 159,958 | 245,483 | 412,919 |
| Operating Income | 122,586 | 218,412 | 385,532 |
| Net Income | 85,491 | 181,114 | 281,331 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 2,140,983 | 2,255,936 | 0 |
| Total Liabilities | 841,510 | 840,163 | -1,463,164 |
| Total Stockholders Equity | 1,085,498 | 1,227,830 | 1,463,164 |
| Total Debt | 164,164 | 98,819 | 0 |
| Cash and Cash Equivalents | 383,098 | 482,834 | 0 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 275,629 | 313,255 | 0 |
| Capital Expenditure | -10,051 | -15,498 | 0 |
| Free Cash Flow | 265,578 | 297,757 | 0 |
| Net Income | 85,491 | 157,440 | 281,331 |
| Net Change in Cash | 17,474 | 99,736 | -482,834 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2028 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 2,448,577.814 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 2,545,992.346 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 2,505,666 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 425,330.054 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 442,251.439 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 435,246.554 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 0 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 0 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 0 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 1,714,149.384 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 1,782,345.322 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 1,754,114.493 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 0 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 0 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 0 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 1 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 1 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: Piper Sandler reported strong adjusted net revenues of $405 million in Q2 2025, reflecting solid growth as highlighted in the earnings call transcript. Key metrics such as revenue and net income demonstrate consistent operational efficiency, supported by positive trends in operating cash flow from recent cash flow statements.
- High Profitability Metrics: The company exhibits strong gross profit margin (TTM) and net profit margin (TTM), indicating effective cost management and profitability compared to industry benchmarks, as per key metrics data.
- Sector Outperformance: PIPR's performance metrics (perf1w, perf1m, perf3m) show positive returns, often surpassing industry averages (industry_perf1w, industry_perf1m), reflecting resilience and competitive positioning within the financial services sector.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates PIPR intrinsic value between $247.60 – $323.08 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
[intrinsic_calculator]
Common questions about PIPR valuation
Is Piper Sandler Companies (PIPR) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Piper Sandler Companies (PIPR) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is PIPR a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether PIPR trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is PIPR’s P/E ratio?
You can see PIPR’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for PIPR?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is PIPR a good long-term investment?
Whether PIPR fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
PIPR
1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.
Daily snapshot
1.01
Trading Metrics:
| Open: | 75.21 | Previous Close: | 74.44 | |
| Day Low: | 74.48 | Day High: | 75.7 | |
| Year Low: | 68.7 | Year High: | 95.07 | |
| Price Avg 50: | 75.72 | Price Avg 200: | 80.87 | |
| Volume: | 138308 | Average Volume: | 599151 |
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Login — it's freePIPR full analysis
Welcome to MARKETSNAP’s SWOT analysis for Piper Sandler Companies, a name you might not hear every day in the investment world but one that’s carving out a solid spot in the financial services space. If you’re a long-term investor looking to diversify or dig into niche players with potential, you’re in the right place. Today, we’re breaking down the strengths, weaknesses, opportunities, and threats for Piper Sandler, a firm that’s been making waves in investment banking and financial advisory. Let’s…
