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PIPER SANDLER COMPANIES（PIPR）与Ryerson Holding Corp（RYI）财务数据对比。点击上方公司名可切换其他公司
Ryerson Holding Corp的季度营收约是PIPER SANDLER COMPANIES的1.7倍（$1.1B vs $667.0M），PIPER SANDLER COMPANIES净利率更高（17.1% vs -3.4%，领先20.5%），PIPER SANDLER COMPANIES同比增速更快（37.4% vs 9.7%），过去两年PIPER SANDLER COMPANIES的营收复合增速更高（39.2% vs -5.6%）
Piper Sandler是一家美国跨国投资银行及金融服务提供商，核心业务覆盖并购重组、财务重整、公开募股、公共财政、机构经纪、投资管理、证券研究等领域，通过旗下核心子公司Piper Sandler & Co.为企业、机构投资者及公共组织提供专业金融服务。
莱森控股集团旗下的约瑟夫·T·莱森父子公司是一家金属加工分销服务商，业务覆盖美国、墨西哥、加拿大与中国。公司创立于1842年，总部位于芝加哥，在全球约100个网点拥有约4200名员工，是金属流通领域资历深厚的专业服务商。
PIPR vs RYI — 直观对比
营收规模更大
RYI
是对方的1.7倍
$667.0M
营收增速更快
PIPR
高出27.7%
9.7%
净利率更高
PIPR
高出20.5%
-3.4%
两年增速更快
PIPR
近两年复合增速
-5.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $667.0M | $1.1B |
| 净利润 | $114.0M | $-37.9M |
| 毛利率 | — | 15.3% |
| 营业利润率 | 28.3% | -3.4% |
| 净利率 | 17.1% | -3.4% |
| 营收同比 | 37.4% | 9.7% |
| 净利润同比 | 65.0% | -781.4% |
| 每股收益（稀释后） | $6.41 | $-1.18 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收PIPRRYI
| Q4 25 | $667.0M | $1.1B | ||
| Q3 25 | $480.1M | $1.2B | ||
| Q2 25 | $398.6M | $1.2B | ||
| Q1 25 | $358.6M | $1.1B | ||
| Q4 24 | $485.4M | $1.0B | ||
| Q3 24 | $360.9M | $1.1B | ||
| Q2 24 | $340.8M | $1.2B | ||
| Q1 24 | $344.4M | $1.2B |
净利润PIPRRYI
| Q4 25 | $114.0M | $-37.9M | ||
| Q3 25 | $60.3M | $-14.8M | ||
| Q2 25 | $42.2M | $1.9M | ||
| Q1 25 | $64.9M | $-5.6M | ||
| Q4 24 | $69.1M | $-4.3M | ||
| Q3 24 | $34.8M | $-6.6M | ||
| Q2 24 | $34.8M | $9.9M | ||
| Q1 24 | $42.5M | $-7.6M |
毛利率PIPRRYI
| Q4 25 | — | 15.3% | ||
| Q3 25 | — | 17.2% | ||
| Q2 25 | — | 17.9% | ||
| Q1 25 | — | 18.0% | ||
| Q4 24 | — | 19.0% | ||
| Q3 24 | — | 17.9% | ||
| Q2 24 | — | 18.2% | ||
| Q1 24 | — | 17.6% |
营业利润率PIPRRYI
| Q4 25 | 28.3% | -3.4% | ||
| Q3 25 | 22.4% | -0.1% | ||
| Q2 25 | 12.3% | 0.5% | ||
| Q1 25 | 8.2% | 0.2% | ||
| Q4 24 | 16.9% | 0.3% | ||
| Q3 24 | 15.4% | 0.5% | ||
| Q2 24 | 8.3% | 1.9% | ||
| Q1 24 | 15.2% | 0.1% |
净利率PIPRRYI
| Q4 25 | 17.1% | -3.4% | ||
| Q3 25 | 12.6% | -1.3% | ||
| Q2 25 | 10.6% | 0.2% | ||
| Q1 25 | 18.1% | -0.5% | ||
| Q4 24 | 14.2% | -0.4% | ||
| Q3 24 | 9.6% | -0.6% | ||
| Q2 24 | 10.2% | 0.8% | ||
| Q1 24 | 12.3% | -0.6% |
每股收益（稀释后）PIPRRYI
| Q4 25 | $6.41 | $-1.18 | ||
| Q3 25 | $3.38 | $-0.46 | ||
| Q2 25 | $2.38 | $0.06 | ||
| Q1 25 | $3.65 | $-0.18 | ||
| Q4 24 | $3.88 | $-0.13 | ||
| Q3 24 | $1.96 | $-0.20 | ||
| Q2 24 | $1.97 | $0.29 | ||
| Q1 24 | $2.43 | $-0.22 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $26.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.4B | $753.1M |
| 总资产 | $2.6B | $2.4B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资PIPRRYI
| Q4 25 | — | $26.9M | ||
| Q3 25 | — | $29.8M | ||
| Q2 25 | — | $30.8M | ||
| Q1 25 | — | $33.6M | ||
| Q4 24 | — | $27.7M | ||
| Q3 24 | — | $35.0M | ||
| Q2 24 | — | $28.0M | ||
| Q1 24 | — | $41.9M |
股东权益PIPRRYI
| Q4 25 | $1.4B | $753.1M | ||
| Q3 25 | $1.3B | $787.3M | ||
| Q2 25 | $1.2B | $811.5M | ||
| Q1 25 | $1.2B | $803.9M | ||
| Q4 24 | $1.2B | $815.3M | ||
| Q3 24 | $1.2B | $832.9M | ||
| Q2 24 | $1.1B | $877.9M | ||
| Q1 24 | $1.1B | $888.5M |
总资产PIPRRYI
| Q4 25 | $2.6B | $2.4B | ||
| Q3 25 | $2.2B | $2.5B | ||
| Q2 25 | $2.0B | $2.5B | ||
| Q1 25 | $1.8B | $2.5B | ||
| Q4 24 | $2.3B | $2.4B | ||
| Q3 24 | $2.0B | $2.5B | ||
| Q2 24 | $1.9B | $2.6B | ||
| Q1 24 | $1.8B | $2.7B |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $729.8M | $112.7M |
| 自由现金流经营现金流 - 资本支出 | — | $91.9M |
| 自由现金流率自由现金流/营收 | — | 8.3% |
| 资本支出强度资本支出/营收 | — | 1.9% |
| 现金转化率经营现金流/净利润 | 6.40× | — |
| 过去12个月自由现金流最近4个季度 | — | $35.5M |
8季度趋势，按日历期对齐
经营现金流PIPRRYI
| Q4 25 | $729.8M | $112.7M | ||
| Q3 25 | $31.9M | $-8.3M | ||
| Q2 25 | $32.1M | $23.8M | ||
| Q1 25 | $-207.2M | $-41.2M | ||
| Q4 24 | $163.8M | $92.2M | ||
| Q3 24 | $80.1M | $134.6M | ||
| Q2 24 | $266.5M | $25.9M | ||
| Q1 24 | $-197.2M | $-47.8M |
自由现金流PIPRRYI
| Q4 25 | — | $91.9M | ||
| Q3 25 | — | $-21.1M | ||
| Q2 25 | — | $13.9M | ||
| Q1 25 | — | $-49.2M | ||
| Q4 24 | — | $68.7M | ||
| Q3 24 | — | $103.0M | ||
| Q2 24 | — | $3.2M | ||
| Q1 24 | — | $-69.6M |
自由现金流率PIPRRYI
| Q4 25 | — | 8.3% | ||
| Q3 25 | — | -1.8% | ||
| Q2 25 | — | 1.2% | ||
| Q1 25 | — | -4.3% | ||
| Q4 24 | — | 6.8% | ||
| Q3 24 | — | 9.1% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | -5.6% |
资本支出强度PIPRRYI
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 1.1% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | — | 2.8% | ||
| Q2 24 | — | 1.9% | ||
| Q1 24 | — | 1.8% |
现金转化率PIPRRYI
| Q4 25 | 6.40× | — | ||
| Q3 25 | 0.53× | — | ||
| Q2 25 | 0.76× | 12.53× | ||
| Q1 25 | -3.19× | — | ||
| Q4 24 | 2.37× | — | ||
| Q3 24 | 2.30× | — | ||
| Q2 24 | 7.66× | 2.62× | ||
| Q1 24 | -4.64× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
PIPR
| Advisory Services | $402.6M | 60% |
| Equities Financing | $66.7M | 10% |
| Equity Salesand Trading | $64.2M | 10% |
| Fixed Income Salesand Trading | $47.9M | 7% |
| Other | $46.7M | 7% |
| Debt Financing | $38.9M | 6% |
RYI
| US | $988.3M | 89% |
| Non Us | $116.5M | 11% |
