Piper Sandler Companies (PIPR) Financial Ratios
26 years of historical data (2000–2025) · Financial Services · Financial - Capital Markets
EV/EBITDA
↑
12.44
-8% vs avg
5yr avg: 13.55
30Y Low4.7·High26.4
P/FCF
↑
8.36
↓-21% vs avg
5yr avg: 10.56
30Y Low1.6·High24.5
P/B Ratio
↑
3.68
↑+30% vs avg
5yr avg: 2.82
30Y Low0.4·High3.8
ROE
↓
18.8%
↓+27% vs avg
5yr avg: 14.7%
30Y Low-22%·High26%
Debt/EBITDA
↓
0.28
↓-61% vs avg
5yr avg: 0.71
30Y Low0.3·High15.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
PIPR Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Piper Sandler Companies trades at 20.7x earnings, 12% below its 5-year average of 23.4x, sitting at the 58th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a premium of 52%. On a free-cash-flow basis, the stock trades at 8.4x P/FCF, 21% below the 5-year average of 10.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.8B | $6.0B | $5.3B | $3.0B | $2.2B | $3.0B | $1.5B | $1.1B | $884M | $1.1B | $927M |
| Enterprise Value | $5.1B | $5.3B | $4.9B | $2.8B | $2.1B | $2.3B | $1.3B | $1.1B | $883M | $1.5B | $1.5B |
| P/E Ratio → | 20.66 | 21.45 | 29.29 | 35.26 | 19.97 | 10.87 | 37.10 | 10.38 | 17.70 | — | — |
| P/S Ratio | 3.06 | 3.17 | 3.58 | 2.30 | 1.60 | 1.53 | 1.26 | 1.38 | 1.22 | 1.32 | 1.22 |
| P/B Ratio | 3.68 | 3.82 | 3.75 | 2.32 | 1.76 | 2.47 | 1.62 | 1.38 | 1.21 | 1.49 | 1.14 |
| P/FCF | 8.36 | 8.66 | 17.83 | 11.34 | — | 4.41 | 1.97 | 18.18 | 1.79 | 4.93 | 24.54 |
| P/OCF | 7.96 | 8.25 | 16.94 | 10.93 | — | 4.28 | 1.93 | 16.44 | 1.73 | 4.76 | 19.00 |
P/E links to full P/E history page with 30-year chart
PIPR EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Piper Sandler Companies's enterprise value stands at 12.4x EBITDA, 8% below its 5-year average of 13.5x. The Financial Services sector median is 11.4x, placing the stock at a 9% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.81 | 3.32 | 2.13 | 1.50 | 1.15 | 1.08 | 1.41 | 1.22 | 1.78 | 1.94 |
| EV / EBITDA | 12.44 | 12.95 | 20.06 | 17.46 | 12.56 | 4.69 | 10.41 | 8.30 | 9.68 | 14.57 | — |
| EV / EBIT | 13.32 | 13.87 | 22.54 | 22.79 | 15.46 | 5.14 | 18.82 | 9.64 | 12.19 | 18.73 | — |
| EV / FCF | — | 7.67 | 16.54 | 10.52 | — | 3.31 | 1.69 | 18.71 | 1.79 | 6.63 | 39.17 |
PIPR Profitability
Margins and return-on-capital ratios measuring operating efficiency
Piper Sandler Companies earns an operating margin of 20.2%, roughly in line with the Financial Services sector average. Operating margins have expanded from 9.4% to 20.2% over the past 3 years, signaling improving operational efficiency. ROE of 18.8% indicates solid capital efficiency, compared to the sector median of 9.0%. ROIC of 18.0% represents solid returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 93.6% | 93.6% | 99.6% | 99.2% | 99.3% | 99.5% | 98.8% | 98.6% | 97.7% | 97.6% | 97.0% |
| Operating Margin | 20.2% | 20.2% | 14.7% | 9.4% | 9.7% | 22.3% | 5.7% | 14.7% | 10.0% | 9.5% | -4.1% |
| Net Profit Margin | 14.8% | 14.8% | 12.2% | 6.5% | 8.0% | 14.0% | 3.4% | 13.8% | 7.9% | -7.4% | -2.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 18.8% | 18.8% | 13.3% | 6.7% | 8.9% | 25.9% | 4.7% | 14.5% | 7.8% | -8.0% | -2.7% |
| ROA | 11.6% | 11.6% | 8.2% | 4.0% | 4.7% | 12.2% | 2.2% | 7.5% | 3.4% | -3.0% | -1.0% |
| ROIC | 18.0% | 18.0% | 11.0% | 6.2% | 6.9% | 24.9% | 4.5% | 9.5% | 5.6% | 4.6% | -1.6% |
| ROCE | 16.2% | 16.2% | 10.3% | 5.9% | 5.9% | 20.0% | 3.9% | 10.4% | 7.9% | 6.4% | -2.2% |
PIPR Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Piper Sandler Companies carries a Debt/EBITDA ratio of 0.3x, which is very conservative (93% below the sector average of 4.3x). The company holds a net cash position — cash of $809M exceeds total debt of $116M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 79.6x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.07 | 0.07 | 0.07 | 0.13 | 0.19 | 0.17 | 0.32 | 0.35 | 0.07 | 0.56 | 0.73 |
| Debt / EBITDA | 0.28 | 0.28 | 0.40 | 1.03 | 1.42 | 0.44 | 2.38 | 2.04 | 0.55 | 4.07 | — |
| Net Debt / Equity | — | -0.44 | -0.27 | -0.17 | -0.10 | -0.62 | -0.23 | 0.04 | -0.00 | 0.51 | 0.68 |
| Net Debt / EBITDA | -1.68 | -1.68 | -1.56 | -1.37 | -0.79 | -1.56 | -1.72 | 0.23 | -0.00 | 3.74 | — |
| Debt / FCF | — | -0.99 | -1.29 | -0.82 | — | -1.10 | -0.28 | 0.52 | -0.00 | 1.70 | 14.63 |
| Interest Coverage | 79.64 | 79.64 | 38.45 | 12.08 | 14.17 | 41.13 | 4.75 | 10.14 | 4.38 | 3.91 | -1.37 |
Net cash position: cash ($809M) exceeds total debt ($116M)
PIPR Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Piper Sandler Companies's current ratio of 22.75x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 2.83x to 22.75x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 22.75 | 22.75 | 23.03 | 2.83 | 12.19 | 9.41 | 42.11 | 9.88 | 0.08 | 0.04 | 0.05 |
| Quick Ratio | 22.75 | 22.75 | 23.03 | 2.83 | 12.19 | 9.41 | 42.11 | 9.88 | 0.08 | 0.04 | 0.05 |
| Cash Ratio | 19.91 | 19.91 | 13.33 | 2.83 | 6.06 | 7.05 | 27.32 | 4.35 | 0.08 | 0.04 | 0.05 |
| Asset Turnover | — | 0.73 | 0.66 | 0.61 | 0.63 | 0.77 | 0.60 | 0.50 | 0.54 | 0.41 | 0.36 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
PIPR Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Piper Sandler Companies returns 4.1% to shareholders annually — split between a 2.0% dividend yield and 2.1% buyback yield. A payout ratio of 40.6% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 4.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.0% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 40.6% | 40.6% | 40.7% | 98.8% | 97.2% | 35.7% | 69.6% | 31.9% | 82.7% | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.8% | 4.7% | 3.4% | 2.8% | 5.0% | 9.2% | 2.7% | 9.6% | 5.7% | — | — |
| FCF Yield | 12.0% | 11.5% | 5.6% | 8.8% | — | 22.7% | 50.7% | 5.5% | 55.9% | 20.3% | 4.1% |
| Buyback Yield | 2.1% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 4.1% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $71M | $71M | $69M | $68M | $68M | $60M | $56M | $54M | $51M | $51M |
Peer Comparison
Compare PIPR with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 PIPRYou | $6B | 20.7 | 12.4 | 8.4 | 93.6% | 20.2% | 18.8% | 18.0% | 0.3 |
 MC | $5B | 22.9 | 16.4 | 9.1 | 99.2% | 18.1% | 40.2% | 24.9% | 0.9 |
 PJT | $4B | 23.3 | 9.2 | 7.8 | 32.4% | 21.2% | 18.9% | 20.3% | 1.1 |
 HLI | $10B | 24.2 | 17.1 | 12.1 | 38.5% | 21.0% | 19.9% | 15.5% | 0.8 |
 LAZ | $4B | 20.4 | 11.6 | 8.2 | 31.8% | 13.0% | 27.0% | 9.5% | 5.7 |
 EVR | $15B | 26.5 | 17.9 | 12.5 | 99.4% | 20.5% | 27.8% | 18.8% | 1.4 |
 PWP | $2B | 28.8 | 24.8 | 52.7 | 97.2% | 6.4% | 14.5% | 7.0% | 5.1 |
 SF | $11B | 12.5 | 12.1 | 9.5 | 86.6% | 13.8% | 11.7% | 7.9% | 2.3 |
 RJF | $31B | 15.1 | 5.0 | 13.7 | 88.2% | 28.7% | 17.7% | 20.9% | 1.0 |
 OPFI | $727M | 8.5 | 5.1 | 1.9 | 95.1% | 32.4% | 9.7% | 26.4% | 1.7 |
 FHN | $12B | 13.2 | 11.9 | 12.9 | 67.3% | 25.7% | 10.8% | 7.0% | 3.4 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 26 years · Updated daily
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PIPR — Frequently Asked Questions
Quick answers to the most common questions about buying PIPR stock.
What is Piper Sandler Companies's P/E ratio?
Piper Sandler Companies's current P/E ratio is 20.7x. The historical average is 21.7x. This places it at the 58th percentile of its historical range.
What is Piper Sandler Companies's EV/EBITDA?
Piper Sandler Companies's current EV/EBITDA is 12.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.6x.
What is Piper Sandler Companies's ROE?
Piper Sandler Companies's return on equity (ROE) is 18.8%. The historical average is 4.6%.
Is PIPR stock overvalued?
Based on historical data, Piper Sandler Companies is trading at a P/E of 20.7x. This is at the 58th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Piper Sandler Companies's dividend yield?
Piper Sandler Companies's current dividend yield is 1.96% with a payout ratio of 40.6%.
What are Piper Sandler Companies's profit margins?
Piper Sandler Companies has 93.6% gross margin and 20.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Piper Sandler Companies have?
Piper Sandler Companies's Debt/EBITDA ratio is 0.3x, indicating low leverage. A ratio below 2x is generally considered financially healthy.