Last 47 quarters of trend data · Financial Services · Financial - Capital Markets
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Piper Sandler Companies's quarterly P/E stands at 25.7x, down 29.1% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 30.8% YoY to 13.5x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 28.86 | 25.66 | 29.20 | 16.96 | 19.43 | 36.20 | 29.21 | 20.42 | 14.57 | 165.13 | 140.50 | 23.26 | 14.47 |
| — | -29.1% | -0.0% | -16.9% | +33.3% | -78.1% | -79.2% | -12.2% | +0.7% | +448.6% | +524.7% | +50.3% | +112.0% | |
| P/S Ratio | 3.34 | 3.34 | 3.13 | 3.20 | 2.86 | 3.60 | 3.02 | 2.61 | 1.65 | 2.23 | 1.93 | 2.06 | 1.46 |
| — | -7.3% | +3.7% | +22.6% | +73.8% | +61.3% | +56.5% | +26.8% | +13.1% | +63.8% | +36.8% | +24.4% | +19.5% | |
| P/B Ratio | 3.69 | 4.22 | 3.52 | 3.23 | 3.79 | 3.70 | 3.03 | 2.62 | 2.34 | 2.06 | 1.75 | 1.92 | 1.76 |
| — | +14.1% | +16.3% | +23.1% | +62.0% | +80.0% | +72.5% | +36.5% | +33.0% | +40.0% | +7.7% | -2.1% | -30.4% | |
| P/FCF | 16.61 | 59.59 | 68.70 | — | 8.62 | 16.24 | 3.86 | — | 1.80 | 26.49 | 22.60 | — | 3.56 |
| — | +267.0% | +1681.4% | — | +378.2% | -38.7% | -82.9% | — | -49.4% | +228.9% | +14.7% | — | +122.0% | |
| EV / EBITDA | 18.58 | 13.52 | 22.30 | 31.06 | 13.94 | 19.54 | 27.99 | 14.80 | 7.41 | 112.75 | 24.82 | 18.26 | 9.93 |
| — | -30.8% | -20.3% | +109.8% | +88.0% | -82.7% | +12.8% | -18.9% | -25.3% | +603.8% | +128.7% | +36.5% | +204.8% | |
| EV / EBIT | 20.88 | 14.38 | 25.14 | 37.70 | 15.15 | 21.90 | 34.53 | 16.67 | 8.21 | — | 41.15 | 24.87 | 12.14 |
| — | -34.3% | -27.2% | +126.1% | +84.6% | — | -16.1% | -33.0% | -32.4% | — | +218.2% | +57.1% | +250.2% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Piper Sandler Companies's operating margin was 23.2% in Q3 2025, up 10.8 pp QoQ and up 7.3 pp YoY. This marks the 3rd consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 15.4% lags the current quarter, suggesting the recent improvement is above-trend.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 99.6% | 99.8% | 99.5% | 99.6% | 99.7% | 99.6% | 99.5% | 99.6% | 99.5% | 99.1% | 99.1% | 99.1% | 99.4% |
| — | +0.2% | +0.0% | +0.0% | +0.2% | +0.5% | +0.4% | +0.5% | +0.1% | -0.1% | -0.2% | -0.3% | -0.2% | |
| Operating Margin | 14.7% | 23.2% | 12.4% | 8.5% | 17.5% | 15.9% | 8.4% | 15.7% | 18.6% | -1.2% | 5.0% | 8.9% | 11.3% |
| — | +46.1% | +47.9% | -46.2% | -5.8% | +1393.0% | +67.3% | +76.6% | +65.1% | -120.9% | -54.0% | -14.2% | -57.5% | |
| Net Margin | 12.2% | 13.0% | 10.7% | 18.7% | 14.8% | 9.9% | 10.3% | 12.8% | 11.3% | 1.4% | 1.4% | 8.9% | 10.1% |
| — | +31.0% | +3.6% | +46.3% | +30.7% | +619.5% | +649.1% | +44.1% | +12.1% | -69.4% | -78.0% | -17.1% | -43.6% |
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.3% | 4.2% | 3.0% | 4.6% | 5.0% | 2.6% | 2.6% | 3.2% | 4.1% | 0.3% | 0.3% | 2.1% | 3.1% |
| — | +63.6% | +16.4% | +43.5% | +20.3% | +722.2% | +724.0% | +57.5% | +32.7% | -74.5% | -82.7% | -33.2% | -67.9% | |
| ROA | 8.2% | 2.9% | 2.2% | 3.2% | 3.2% | 1.8% | 1.9% | 2.1% | 2.5% | 0.2% | 0.2% | 1.3% | 1.8% |
| — | +63.8% | +20.1% | +48.5% | +27.1% | +786.5% | +779.9% | +66.7% | +40.4% | -72.7% | -81.1% | -22.0% | -62.2% | |
| ROIC | 11.0% | 5.2% | 2.4% | 1.5% | 4.0% | 2.7% | 1.5% | 2.7% | 4.4% | -0.2% | 0.7% | 1.3% | 2.2% |
| — | +90.2% | +68.1% | -46.2% | -9.1% | +1647.2% | +98.7% | +108.7% | +102.2% | -117.8% | -63.2% | -30.7% | -75.6% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Piper Sandler Companies's Debt/EBITDA ratio is 1.0x, down from 2.1x last quarter — comfortably within a safe range. The current ratio has weakened 16.7% YoY to 6.99x, tightening the short-term liquidity position.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.07 | 0.08 | 0.08 | 0.08 | 0.07 | 0.13 | 0.12 | 0.07 | 0.13 | 0.18 | 0.18 | 0.19 | 0.19 |
| — | -40.5% | -32.0% | +21.6% | -44.7% | -27.1% | -31.9% | -63.0% | -32.5% | -8.5% | -12.7% | -7.4% | +7.0% | |
| Debt / EBITDA | 0.40 | 1.00 | 2.11 | 3.24 | 1.11 | 2.88 | 4.70 | 1.55 | 1.73 | 37.12 | 9.48 | 6.59 | 4.50 |
| — | -65.1% | -55.2% | +109.0% | -35.9% | -92.2% | -50.4% | -76.5% | -61.6% | +321.4% | +73.3% | +19.1% | +276.8% | |
| Current Ratio | 23.03 | 6.99 | 20.16 | 5.33 | 23.03 | 8.40 | 8.24 | — | 2.83 | 40.07 | 285.49 | 2.32 | 12.19 |
| — | -16.7% | +144.8% | — | +713.5% | -79.0% | -97.1% | — | -76.8% | +86.6% | +484.6% | -98.8% | +29.5% | |
| Quick Ratio | 23.03 | 6.99 | 20.16 | 5.33 | 23.03 | 8.40 | 8.24 | — | 2.83 | 40.07 | 285.49 | 2.32 | 12.19 |
| — | -16.7% | +144.8% | — | +713.5% | -79.0% | -97.1% | — | -76.8% | +86.6% | +484.6% | -98.8% | +29.5% | |
| Interest Coverage | 38.45 | 131.33 | 27.20 | 22.96 | 64.31 | 41.01 | 16.96 | 37.90 | 36.44 | -1.36 | 5.52 | 9.78 | 18.76 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Start ComparisonPiper Sandler Companies's current P/E is 28.9x. The average P/E over the last 4 quarters is 22.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Piper Sandler Companies's current operating margin is 14.7%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Piper Sandler Companies's business trajectory between earnings reports.