PIPER SANDLER COMPANIESPIPREarnings & Financial Report
Piper Sandler Companies is an American multinational investment bank and financial services company, focused on mergers and acquisitions, financial restructuring, public offerings, public finance, institutional brokerage, investment management, and securities research. Through its principal subsidiary, Piper Sandler & Co., the company targets corporations, institutional investors, and public entities.
Revenue
$340.8M
Gross Profit
N/A
Operating Profit
$28.2M
Net Profit
$34.8M
Gross Margin
N/A
Operating Margin
8.3%
Net Margin
10.2%
YoY Growth
17.0%
EPS
$1.97
PIPER SANDLER COMPANIES Q2 FY2024 Financial Summary
PIPER SANDLER COMPANIES reported revenue of $340.8M (up 17.0% YoY) for Q2 FY2024, with a net profit of $34.8M (up 779.4% YoY) (10.2% margin).
Key Financial Metrics
| Total Revenue | $340.8M |
|---|---|
| Net Profit | $34.8M |
| Gross Margin | N/A |
| Operating Margin | 8.3% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
PIPER SANDLER COMPANIES Q2 FY2024 revenue of $340.8M breaks down across 5 segments, led by Advisory Services at $183.9M (54.0% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Advisory Services | $183.9M | 54.0% |
| Equity Salesand Trading | $52.1M | 15.3% |
| Equities Financing | $50.6M | 14.9% |
| Fixed Income Salesand Trading | $39.7M | 11.6% |
| Debt Financing | $25.2M | 7.4% |
PIPER SANDLER COMPANIES Revenue by Segment — Quarterly Trend
PIPER SANDLER COMPANIES revenue by segment across the last 4 reported quarters, showing how each business line (such as Advisory Services and Equity Salesand Trading) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Advisory Services | $402.6M | $212.4M | $206.2M | $216.8M |
| Equity Salesand Trading | $64.2M | $53.8M | $58.1M | $54.3M |
| Equities Financing | $66.7M | $79.7M | $35.0M | $35.7M |
| Fixed Income Salesand Trading | $47.9M | $55.7M | $54.3M | $45.0M |
| Debt Financing | $38.9M | $38.5M | $41.9M | — |
PIPER SANDLER COMPANIES Annual Revenue by Year
PIPER SANDLER COMPANIES annual revenue history includes year-by-year totals (for example, 2025 revenue was $1.9B).
| Year | Annual Revenue |
|---|---|
| 2025 | $1.9B |
| 2024 | $1.5B |
| 2023 | $1.4B |
| 2022 | $1.4B |
PIPER SANDLER COMPANIES Quarterly Revenue & Net Profit History
PIPER SANDLER COMPANIES results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $667.0M | +37.4% | $114.0M | 17.1% |
| Q3 FY2025 | $480.1M | +33.0% | $60.3M | 12.6% |
| Q2 FY2025 | $398.6M | +16.9% | $42.2M | 10.6% |
| Q1 FY2025 | $358.6M | +4.1% | $64.9M | 18.1% |
| Q4 FY2024 | $485.4M | +2.4% | $69.1M | 14.2% |
| Q3 FY2024 | $360.9M | +23.6% | $34.8M | 9.6% |
| Q2 FY2024 | $340.8M | +17.0% | $34.8M | 10.2% |
| Q1 FY2024 | $344.4M | +14.6% | $42.5M | 12.3% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $344.4M | $340.8M | $360.9M | $485.4M | $358.6M | $398.6M | $480.1M | $667.0M |
| YoY Growth | 14.6% | 17.0% | 23.6% | 2.4% | 4.1% | 16.9% | 33.0% | 37.4% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $1.82B | $1.92B | $2.03B | $2.26B | $1.82B | $1.96B | $2.22B | $2.59B |
| Liabilities | $497.4M | $579.3M | $670.0M | $840.2M | $442.4M | $559.7M | $756.7M | $1.01B |
| Equity | $1.10B | $1.13B | $1.17B | $1.23B | $1.21B | $1.23B | $1.28B | $1.37B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-197.2M | $266.5M | $80.1M | $163.8M | $-207.2M | $32.1M | $31.9M | $729.8M |