Piper Sandler Companies (PIPR) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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PIPR Revenue Growth
Revenue Breakdown (FY 2025)
PIPR's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
PIPR Revenue Analysis (2014–2025)
As of May 6, 2026, Piper Sandler Companies (PIPR) generated trailing twelve-month (TTM) revenue of $1.87 billion, reflecting explosive growth of +42.5% year-over-year. The most recent quarter (Q4 2025) recorded $667.0 million in revenue, up 44.3% sequentially.
Looking at the longer-term picture, PIPR's 5-year compound annual growth rate (CAGR) stands at +9.8%, indicating steady revenue expansion. The company achieved its highest annual revenue of $1.98 billion in 2021.
Revenue diversification analysis shows PIPR's business is primarily driven by Advisory Services (57%), Equity Sales and Trading (13%), and Equities Financing (12%). With over half of revenue concentrated in Advisory Services, the company maintains significant focus in this area while developing other growth vectors.
When compared to Financial Services sector peers including MC, PJT, and HLI. Compare PIPR vs MC →
PIPR Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| PIPRCurrent | $1.9B | +42.5% | +9.8% | 20.2% | |
 MC | $1.5B | - | - | 18.1% | |
 PJT | $1.7B | - | - | 21.2% | |
 HLI | $2.4B | - | - | 21.0% | |
 LAZ | $3.2B | - | - | 13.0% | |
 EVR | $3.9B | - | - | 20.5% |
PIPR Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.90B | - | $1.78B | 93.6% | $385.5M | 20.2% |
| 2024 | $1.48B | - | $1.48B | 99.6% | $218.4M | 14.7% |
| 2023 | $1.31B | - | $1.30B | 99.2% | $122.6M | 9.4% |
| 2022 | $1.38B | - | $1.37B | 99.3% | $134.4M | 9.7% |
| 2021 | $1.98B | - | $1.97B | 99.5% | $441.5M | 22.3% |
| 2020 | $1.20B | - | $1.18B | 98.8% | $68.5M | 5.7% |
| 2019 | $810.3M | - | $798.6M | 98.6% | $119.0M | 14.7% |
| 2018 | $724.4M | - | $707.8M | 97.7% | $72.5M | 10.0% |
| 2017 | $835.7M | - | $815.5M | 97.6% | $79.3M | 9.5% |
| 2016 | $762.2M | - | $739.7M | 97.0% | $-30,874,000 | -4.1% |
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Start ComparisonPIPR — Frequently Asked Questions
Quick answers to the most common questions about buying PIPR stock.
Is PIPR's revenue growth accelerating or slowing?
PIPR revenue is accelerating at +42.5% year-over-year, exceeding the 5-year CAGR of +9.8%. TTM revenue reached $1.9B. Growth momentum has increased versus prior periods.
What is PIPR's long-term revenue growth rate?
Piper Sandler Companies's 5-year revenue CAGR of +9.8% reflects the sustained expansion pattern. Current YoY growth of +42.5% is above this long-term average.
How is PIPR's revenue distributed by segment?
PIPR reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.