PIPR
Piper Sandler Companies
PIPR's fundamentals are strong and it looks cheap: trading at 16x earnings, below its usual 21x. Analysts expect earnings growth.
PIPR Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
PIPR's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like PIPR.
PIPR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 12x | $48.99 | -26% |
| Forward | 15x | $66.09 | — |
| Current | 16x | $66.09 | — |
| Fair | 21x | $88.71 | +34% |
| Expensive | 36x | $153 | +132% |
Historical ranges are pointers, not guarantees.
PIPR's PE is in its fair range at 16x. If earnings grow as analysts expect, today's price would be 15x next year's earnings, in its cheap range.
PIPR Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for PIPR, with profitability holding steady.
PIPR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.52 | +6.4% |
| Q3 2026 | $4.25 | +28% |
| Q2 2026 | $4.32 | +46% |
| Q1 2026 | $3.96 | +38% |
| Q4 2025 | $3.95 | +54% |
| Q3 2025 | $3.32 | +42% |
| Q2 2025 | $2.96 | +55% |
| Q1 2025 | $2.86 | +95% |
| Q4 2024 | $2.56 | +106% |
PIPR's earnings per share have climbed steadily: $4.25 over the past year, up 28% from the year before, and higher year over year for 10 quarters in a row.
PIPR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $443M | -7.6% |
| Q2 2026 | $495.5M | +25% |
| Q1 2026 | $474.4M | +33% |
| Q4 2025 | $666.1M | +38% |
| Q3 2025 | $479.3M | +33% |
| Q2 2025 | $396.8M | +17% |
| Q1 2025 | $357.3M | +4.1% |
| Q4 2024 | $484.1M | +2.6% |
PIPR's revenue is growing: $443M last quarter, down 7.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | -7.4 points |
| Q2 2026 | 20% | +7.9 points |
| Q1 2026 | 19% | +10 points |
| Q4 2025 | 28% | +11 points |
| Q3 2025 | 22% | +6.9 points |
| Q2 2025 | 12% | +4 points |
| Q1 2025 | 8.2% | -7 points |
| Q4 2024 | 17% | -1.2 points |
PIPR's operating margin was 15% last quarter, down 7.4 points from the same quarter a year ago.
PIPR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $349.9M | +997% |
| Q2 2026 | $36.3M | +13% |
| Q1 2026 | -$291.7M | -$84.5M |
| Q4 2025 | $729.8M | +345% |
| Q3 2025 | $31.9M | -60% |
| Q2 2025 | $32.1M | -88% |
| Q1 2025 | -$207.2M | -$10M |
| Q4 2024 | $163.8M | -61% |
PIPR's free cash flow was $824M over the past year, more than ten times what it generated the year before. Free cash flow isn't a meaningful measure for financial services companies like PIPR.
PIPR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.8% | -574K shares |
| 1 year | -0.8% | -565K shares |
| 3 years | +2.4% | +1.6M shares |
| 5 years | +3.6% | +2.5M shares |
| Available history | +25% | +14.3M shares |
PIPR has 71M diluted shares, down 0.8% from a year ago, with $160M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $39.4M |
| Q2 2026 | $31M |
| Q1 2026 | $69.9M |
| Q4 2025 | $19.8M |
| Q3 2025 | $3.7M |
| Q2 2025 | $20.9M |
| Q1 2025 | $80.6M |
| Q4 2024 | $6.5M |
PIPR spent $160M buying back its own shares over the past year, up 43% from the year before.
PIPR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.2x | Net Cash |
| Q2 2026 | -0.6x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
| Q4 2025 | -2.0x | Net Cash |
| Q3 2025 | -0.3x | Net Cash |
| Q2 2025 | -0.5x | Net Cash |
| Q1 2025 | -0.5x | Net Cash |
| Q4 2024 | -1.9x | Net Cash |
PIPR has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like PIPR.
PIPR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.8 | Neutral |
| Stochastic | 22.5 | Neutral |
PIPR's weekly RSI is 38 (neutral) and its Stochastic is 22 (neutral).
PIPR PE vs Financial Services Sector
| Metric | PIPR | Sector median | Relative |
|---|---|---|---|
| PE | 16x | 13x | 19% above |
| PE % | 34 | 63 | 29 pts below |
PIPR is trading at 16x earnings, a 19% premium to the Financial Services sector's median of 13x.
PIPR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $66.0 | 0.1% above |
| 20 week MA | $71.4 | 7.4% below |
| 50 week MA | $77.9 | 15% below |
| 100 week MA | $75.9 | 13% below |
| 200 week MA | $61.9 | 6.8% above |
PIPR's trend is mixed: it's above two of its five weekly moving averages, and 6.8% above its 200-week average.
PIPR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $19.9 | $25.0 | +26% |
| 2021 | $25.0 | $45.0 | +80% |
| 2022 | $45.0 | $33.5 | -26% |
| 2023 | $33.5 | $43.7 | +31% |
| 2024 | $43.7 | $75.3 | +72% |
| 2025 | $75.3 | $87.5 | +16% |
| 2026 YTD | $87.5 | $66.1 | -24% |
PIPR has finished higher in five of the last six years, two of them by more than 50%. It's down 24% so far in 2026.