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PIPER SANDLER COMPANIES（PIPR）与思佳讯（SWKS）财务数据对比。点击上方公司名可切换其他公司
思佳讯的季度营收约是PIPER SANDLER COMPANIES的1.6倍（$1.0B vs $667.0M），PIPER SANDLER COMPANIES净利率更高（17.1% vs 7.6%，领先9.4%），PIPER SANDLER COMPANIES同比增速更快（37.4% vs 8.6%），过去两年PIPER SANDLER COMPANIES的营收复合增速更高（39.2% vs -0.5%）
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。
思佳讯是总部位于美国加利福尼亚州尔湾的半导体企业，公司股票在纳斯达克全球精选市场挂牌交易，股票代码为SWKS，同时也是标普500指数的成分股之一，在全球射频半导体领域拥有较高市场地位。
PIPR vs SWKS — 直观对比
营收规模更大
SWKS
是对方的1.6倍
$667.0M
营收增速更快
PIPR
高出28.8%
8.6%
净利率更高
PIPR
高出9.4%
7.6%
两年增速更快
PIPR
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $667.0M | $1.0B |
| 净利润 | $114.0M | $79.2M |
| 毛利率 | — | 41.3% |
| 营业利润率 | 28.3% | 10.0% |
| 净利率 | 17.1% | 7.6% |
| 营收同比 | 37.4% | 8.6% |
| 净利润同比 | 65.0% | 15.3% |
| 每股收益（稀释后） | $6.41 | $0.53 |
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PIPRSWKS
| Q1 26 | — | $1.0B | ||
| Q4 25 | $667.0M | $1.1B | ||
| Q3 25 | $480.1M | — | ||
| Q2 25 | $398.6M | $965.0M | ||
| Q1 25 | $358.6M | $953.2M | ||
| Q4 24 | $485.4M | $1.1B | ||
| Q3 24 | $360.9M | $1.0B | ||
| Q2 24 | $340.8M | $905.5M |
净利润PIPRSWKS
| Q1 26 | — | $79.2M | ||
| Q4 25 | $114.0M | $141.4M | ||
| Q3 25 | $60.3M | — | ||
| Q2 25 | $42.2M | $105.0M | ||
| Q1 25 | $64.9M | $68.7M | ||
| Q4 24 | $69.1M | $162.0M | ||
| Q3 24 | $34.8M | $60.5M | ||
| Q2 24 | $34.8M | $120.9M |
毛利率PIPRSWKS
| Q1 26 | — | 41.3% | ||
| Q4 25 | — | 40.7% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 41.6% | ||
| Q1 25 | — | 41.1% | ||
| Q4 24 | — | 41.4% | ||
| Q3 24 | — | 41.9% | ||
| Q2 24 | — | 40.2% |
营业利润率PIPRSWKS
| Q1 26 | — | 10.0% | ||
| Q4 25 | 28.3% | 10.1% | ||
| Q3 25 | 22.4% | — | ||
| Q2 25 | 12.3% | 11.5% | ||
| Q1 25 | 8.2% | 10.2% | ||
| Q4 24 | 16.9% | 16.9% | ||
| Q3 24 | 15.4% | 5.8% | ||
| Q2 24 | 8.3% | 14.4% |
净利率PIPRSWKS
| Q1 26 | — | 7.6% | ||
| Q4 25 | 17.1% | 12.9% | ||
| Q3 25 | 12.6% | — | ||
| Q2 25 | 10.6% | 10.9% | ||
| Q1 25 | 18.1% | 7.2% | ||
| Q4 24 | 14.2% | 15.2% | ||
| Q3 24 | 9.6% | 5.9% | ||
| Q2 24 | 10.2% | 13.4% |
每股收益（稀释后）PIPRSWKS
| Q1 26 | — | $0.53 | ||
| Q4 25 | $6.41 | $0.95 | ||
| Q3 25 | $3.38 | — | ||
| Q2 25 | $2.38 | $0.70 | ||
| Q1 25 | $3.65 | $0.43 | ||
| Q4 24 | $3.88 | $1.00 | ||
| Q3 24 | $1.96 | $0.36 | ||
| Q2 24 | $1.97 | $0.75 |
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 | — | $1.6B |
| 总债务越低越好 | — | $496.6M |
| 股东权益账面价值 | $1.4B | $5.8B |
| 总资产 | $2.6B | $7.9B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资PIPRSWKS
| Q1 26 | — | $1.6B | ||
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $1.3B |
总债务PIPRSWKS
| Q1 26 | — | $496.6M | ||
| Q4 25 | — | $496.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $496.2M | ||
| Q1 25 | — | $995.1M | ||
| Q4 24 | — | $994.7M | ||
| Q3 24 | — | $994.3M | ||
| Q2 24 | — | $994.0M |
股东权益PIPRSWKS
| Q1 26 | — | $5.8B | ||
| Q4 25 | $1.4B | $5.8B | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.2B | $5.7B | ||
| Q1 25 | $1.2B | $5.9B | ||
| Q4 24 | $1.2B | $6.4B | ||
| Q3 24 | $1.2B | $6.3B | ||
| Q2 24 | $1.1B | $6.3B |
总资产PIPRSWKS
| Q1 26 | — | $7.9B | ||
| Q4 25 | $2.6B | $7.9B | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $2.0B | $7.7B | ||
| Q1 25 | $1.8B | $7.9B | ||
| Q4 24 | $2.3B | $8.3B | ||
| Q3 24 | $2.0B | $8.3B | ||
| Q2 24 | $1.9B | $8.2B |
负债/权益比PIPRSWKS
| Q1 26 | — | 0.09× | ||
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.09× | ||
| Q1 25 | — | 0.17× | ||
| Q4 24 | — | 0.16× | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.16× |
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 | $395.5M |
| 自由现金流经营现金流 - 资本支出 | — | $339.0M |
| 自由现金流率自由现金流/营收 | — | 32.7% |
| 资本支出强度资本支出/营收 | — | 5.5% |
| 现金转化率经营现金流/净利润 | 6.40× | 4.99× |
| 过去12个月自由现金流最近4个季度 | — | $1.1B |
8季度趋势，按日历期对齐
经营现金流PIPRSWKS
| Q1 26 | — | $395.5M | ||
| Q4 25 | $729.8M | $200.0M | ||
| Q3 25 | $31.9M | — | ||
| Q2 25 | $32.1M | $314.2M | ||
| Q1 25 | $-207.2M | $409.4M | ||
| Q4 24 | $163.8M | $377.2M | ||
| Q3 24 | $80.1M | $476.1M | ||
| Q2 24 | $266.5M | $273.4M |
自由现金流PIPRSWKS
| Q1 26 | — | $339.0M | ||
| Q4 25 | — | $144.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $252.7M | ||
| Q1 25 | — | $370.9M | ||
| Q4 24 | — | $338.2M | ||
| Q3 24 | — | $393.3M | ||
| Q2 24 | — | $249.0M |
自由现金流率PIPRSWKS
| Q1 26 | — | 32.7% | ||
| Q4 25 | — | 13.1% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 26.2% | ||
| Q1 25 | — | 38.9% | ||
| Q4 24 | — | 31.7% | ||
| Q3 24 | — | 38.4% | ||
| Q2 24 | — | 27.5% |
资本支出强度PIPRSWKS
| Q1 26 | — | 5.5% | ||
| Q4 25 | — | 5.1% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 6.4% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 3.6% | ||
| Q3 24 | — | 8.1% | ||
| Q2 24 | — | 2.7% |
现金转化率PIPRSWKS
| Q1 26 | — | 4.99× | ||
| Q4 25 | 6.40× | 1.41× | ||
| Q3 25 | 0.53× | — | ||
| Q2 25 | 0.76× | 2.99× | ||
| Q1 25 | -3.19× | 5.96× | ||
| Q4 24 | 2.37× | 2.33× | ||
| Q3 24 | 2.30× | 7.87× | ||
| Q2 24 | 7.66× | 2.26× |
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% |
SWKS
| Sales Channel Through Intermediary | $915.6M | 88% |
| Sales Channel Directly To Consumer | $119.8M | 12% |
