Is Piper Sandler Companies (PIPR) overvalued or fairly valued?

MarketChacha shows Piper Sandler Companies's valuation in context — a trailing P/E of about 5.5, a forward P/E of about 11.9, a price-to-book of about 3.2 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Piper Sandler Companies's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (2.15×) from reported figures — education, not a rating.

What is Piper Sandler Companies's revenue?

Piper Sandler Companies reported revenue of $1.8B for FY2025, with net profit of $281.3M, per official filings.

What is the share price of Piper Sandler Companies (PIPR)?

Piper Sandler Companies last traded at $64.27 (+1.3% on the day), as of 10/20/2026 — a delayed quote shown for education, not investment advice.

Piper Sandler Companies

PIPR · NYSE · Financials · United States

Snapshot

TickerPIPR

ExchangeNYSE

SectorFinancials

IndustryCapital Markets

CountryUnited States

Employees1,915

HeadquartersMinneapolis, United States

Websitewww.pipersandler.com

Filings tracked13

About Piper Sandler Companies

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.

Who owns it

Insiders3.8%
Institutions89.0%
Public & other7.3%

551 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.15.63%
Vanguard Portfolio Management LLC7.34%
Invesco Ltd.4.45%
Vanguard Capital Management LLC4.30%
State Street Corporation4.13%
Geode Capital Management, LLC2.46%
Goldman Sachs Group Inc2.29%
Dimensional Fund Advisors LP2.01%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

No major accounting red flags in the fundamentals we have — profit is backed by cash and returns look healthy.

Cash conversion2.15×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend6.6% → 15.3%

Margin has expanded by about 8.8 points — the business is getting more profitable.

Return on equity20.5%

Latest ROE of 20.5% — capital is generating a healthy return.

Growth qualityrev 19% · PAT 81%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $656.4M · EPS 1.63

Est. earnings growth -5.2%

Next fiscal year

Rev $2.3B · EPS 5.41

Est. earnings growth +17.4%

Analyst consensus estimates — not the company's own guidance.

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$1.8B

Net margin

15.3%

ROE

20.5%

Revenue CAGR (2y)

+18.7%

Profit CAGR (2y)

+81.4%

EPS (FY2025)

15.82

Net profit (FY2025)

$281.3M

Ask MarketChacha about PIPR

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Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$1.8B	$281.3M	15.82	15.3%	20.5%
FY2024	$1.5B	$181.1M	10.24	12.0%	14.8%
FY2023	$1.3B	$85.5M	4.96	6.6%	7.9%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$473.1M	$67.8M	0.95	14.3%
2026Q1	$459.0M	$65.2M	0.92	14.2%
2025Q4	$667.0M	$114.0M	6.40	17.1%
2025Q3	$480.1M	$60.3M	3.38	12.6%
2025Q2	$395.5M	$42.2M	0.59	10.7%
2025Q1	$378.2M	$64.9M	0.91	17.2%
2024Q4	$485.4M	$69.1M	3.86	14.2%
2024Q3	$360.9M	$34.8M	1.96	9.6%
2024Q2	$340.8M	$34.8M	1.97	10.2%
2024Q1	$344.4M	$42.5M	2.43	12.3%
2023Q4	$474.2M	$52.0M	3.00	11.0%
2023Q3	$292.0M	$3.9M	0.22	1.3%
2023Q2	$291.3M	$4.0M	0.23	1.4%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

10-Q filing
SEC8/5/2026
8-K — Results of operations, Exhibits
SEC7/30/2026material
8-K — Shareholder vote results
SEC5/21/2026material
10-Q filing
SEC5/7/2026
8-K — Results of operations, Exhibits
SEC5/1/2026material
8-K — Bylaw/charter change, Other events, Exhibits
SEC3/23/2026material
10-K filing
SEC2/26/2026
8-K — Results of operations, Other events, Exhibits
SEC2/6/2026material
8-K — Executive/director change, Reg FD disclosure, Exhibits
SEC2/4/2026material

2025

10-Q filing
SEC11/4/2025
8-K — Results of operations, Exhibits
SEC10/31/2025material
10-Q filing
SEC8/6/2025
8-K — Results of operations, Exhibits
SEC8/1/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.