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PIPR

Piper Sandler Companies

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Piper Sandler Companies operates in the Security Brokers, Dealers & Flotation Companies industry.

$64.48+0.96%

Oct 14 close · 1D EOD · Databento

Financial ServicesSecurity Brokers, Dealers & Flotation CompaniesMid-capSEC EDGAR FY 2025-12-31

On the Wire · latest 1

All stories →

Oct 14 · Financial TimesPerella Weinberg and Piper Sandler end talks on proposed $6bn mergerPerella Weinberg and Piper Sandler have abandoned merger talks that would have created an independent investment bank valued at $6bn. The breakdown leaves both firms operating separately and removes the proposed combination as a near-term consolidation catalyst.

On the Wire · latest 1

All stories →

Oct 14 · Financial TimesPerella Weinberg and Piper Sandler end talks on proposed $6bn mergerPerella Weinberg and Piper Sandler have abandoned merger talks that would have created an independent investment bank valued at $6bn. The breakdown leaves both firms operating separately and removes the proposed combination as a near-term consolidation catalyst.

What happened

Daily closes · dots are Wire stories

What’s next

Expected around late October, going by its own filing history. The company has not announced a date yet. Its matching report came Oct 31, 2025 and Oct 25, 2024, before the open.

Last report

Jul 30, 2026+3.20%

before the open

Last 4, next close

median 6.06% either way

up 2 of 4

Every report since 2022 →Earnings calendar →

DateEventSourceNext close

Jul 30Earnings release, before the open · 8-KSEC EDGARSEC EDGAR ↗+3.20%

Next close = the first close after the event against the close before it. Prior-session closes only; not a call, not advice.

What happened · big days

19 big days in a year, and what we hold on each

A big day is a close more than 3.82% from the one before, three times PIPR’s median day (1.27%). On 6 of the 19, its peer group moved the same way at least half as far. We show what we hold. We never name a cause.

every other trading daya big day, numbered in the list below±3.82%Hover a bar for its day. Click a big day to open it.

Shaded: since our stories began, Jun 10. Tap a bar for its day.

#DayPIPRWhat we hold that dayGroup (median of 4) · each

1 Oct 16, 2025−5.11%
Before our storiesgroup −1.4%, did not move with it
1Oct 16, 2025−5.11%
Before our stories
−1.4% did not move with itBLK −2.6 · MS −1.6 · GS −1.3 · SCHW −1.0
2 Oct 29, 2025−5.66%
Before our storiesgroup −0.9%, did not move with it
2Oct 29, 2025−5.66%
Before our stories
−0.9% did not move with itBLK −2.4 · GS −1.1 · MS −0.7 · SCHW +0.8
3 Nov 17, 2025−4.18%
Before our storiesgroup −2.7%, moved with PIPR
3Nov 17, 2025−4.18%
Before our stories
−2.7% moved with PIPRBLK −3.2 · MS −2.7 · SCHW −2.6 · GS −1.9
4 Jan 5, 2026+4.60%
Before our storiesgroup +2.9%, moved with PIPR
4Jan 5, 2026+4.60%
Before our stories
+2.9% moved with PIPRGS +3.7 · BLK +3.2 · MS +2.5 · SCHW +2.1
5 Jan 23, 2026−4.68%
Before our storiesgroup −2.0%, did not move with it
5Jan 23, 2026−4.68%
Before our stories
−2.0% did not move with itGS −3.8 · MS −2.2 · SCHW −1.8 · BLK −0.9
6 Feb 6, 2026+9.88%
Resultsgroup +2.7%, did not move with it
6Feb 6, 2026+9.88%
ResultsFirst close after the Feb 6 results filing
+2.7% did not move with itGS +4.3 · SCHW +3.0 · MS +2.3 · BLK +0.1
7 Feb 11, 2026−5.02%
Before our storiesgroup −0.6%, did not move with it
7Feb 11, 2026−5.02%
Before our stories
−0.6% did not move with itSCHW −3.8 · MS −0.7 · GS −0.5 · BLK −0.5
8 Feb 12, 2026−5.98%
Before our storiesgroup −3.4%, moved with PIPR
8Feb 12, 2026−5.98%
Before our stories
−3.4% moved with PIPRMS −4.9 · GS −4.2 · BLK −2.5 · SCHW −0.4
9 Feb 23, 2026−6.32%
Before our storiesgroup −2.7%, did not move with it
9Feb 23, 2026−6.32%
Before our stories
−2.7% did not move with itMS −4.9 · GS −3.3 · BLK −2.1 · SCHW −1.4
10 Feb 27, 2026−6.63%
Before our storiesgroup −4.3%, moved with PIPR
10Feb 27, 2026−6.63%
Before our stories
−4.3% moved with PIPRGS −7.5 · MS −6.2 · BLK −2.5 · SCHW −2.4
11 Mar 24, 2026−75.31%
Before our storiesgroup +0.5%, did not move with it
11Mar 24, 2026−75.31%
Before our stories
+0.5% did not move with itBLK +0.1 · SCHW +0.4 · GS +0.5 · MS +0.9
12 Apr 8, 2026+4.22%
Before our storiesgroup +4.5%, moved with PIPR
12Apr 8, 2026+4.22%
Before our stories
+4.5% moved with PIPRGS +4.8 · MS +4.5 · BLK +4.5 · SCHW +3.6
13 May 1, 2026−8.92%
Resultsgroup −0.2%, did not move with it
13May 1, 2026−8.92%
ResultsFirst close after the May 1 results filing
−0.2% did not move with itBLK −0.4 · MS −0.2 · SCHW −0.1 · GS −0.0
14 Jun 29, 2026−4.58%
Nothing on PIPRgroup −0.1%, did not move with it
14Jun 29, 2026−4.58%
Nothing on PIPRNo PIPR story, brief or results filing in our record that day
−0.1% did not move with itBLK −1.5 · MS −0.1 · SCHW −0.1 · GS +0.1
15 Jul 8, 2026−5.58%
Nothing on PIPRgroup −1.5%, did not move with it
15Jul 8, 2026−5.58%
Nothing on PIPRNo PIPR story, brief or results filing in our record that day
−1.5% did not move with itBLK −1.9 · MS −1.8 · GS −1.3 · SCHW −0.2
16 Jul 14, 2026+4.11%
Nothing on PIPRgroup +1.2%, did not move with it
16Jul 14, 2026+4.11%
Nothing on PIPRNo PIPR story, brief or results filing in our record that day
+1.2% did not move with itGS +9.0 · MS +3.0 · BLK −0.6 · SCHW −1.3
17 Jul 29, 2026−4.71%
Nothing on PIPRgroup −2.8%, moved with PIPR
17Jul 29, 2026−4.71%
Nothing on PIPRNo PIPR story, brief or results filing in our record that day
−2.8% moved with PIPRGS −5.1 · MS −4.0 · BLK −1.7 · SCHW −1.4
18 Aug 13, 2026+3.84%
Nothing on PIPRgroup +0.6%, did not move with it
18Aug 13, 2026+3.84%
Nothing on PIPRNo PIPR story, brief or results filing in our record that day
+0.6% did not move with itBLK +1.9 · SCHW +0.7 · GS +0.5 · MS +0.3
19 Sep 29, 2026−9.72%
Nothing on PIPRgroup −0.1%, did not move with it
19Sep 29, 2026−9.72%
Nothing on PIPRNo PIPR story, brief or results filing in our record that day
−0.1% did not move with itMS −0.5 · BLK −0.3 · GS 0.0 · SCHW +0.8

A story on the same day is not a cause, and a group move is not proof either. Group: the median of MS, GS, BLK and SCHW that day, the largest companies in PIPR’s SEC industry; “moved with PIPR” means the same direction and at least half the size.

What’s next · results

Before the next report: what the first day after the last four did

Six trading days after each results filing (SEC 8-K, Item 2.02). PIPR reports before the open, so day 1 is that day’s close. 3 of 4 times, day 6 ended on the same side as day 1.

Reported Oct 31, 2025

day 1−2.40%day 6−0.03%

Reported Feb 6, 2026

day 1+9.88%day 6−2.69%

Reported May 1, 2026

day 1−8.92%day 6−7.08%

Reported Jul 30, 2026

day 1+3.20%day 6+0.79%

Next report: expected late OctoberEstimated from the dates of its last four results filings. Not announced. Since the Jul 30 report: −12.65%. Four reports is a small sample.

Every report since 2022 →

Each line is PIPR’s close against its close before the filing, on licensed end-of-day closes. What happened after each report, not a forecast; a move on the day is not a cause.

The numbers · FY2025, filed

SEC EDGAR

Market cap$4.6B

Revenue$1.9B+24.30%

Net income$281.3M

EPS, diluted$15.82+54.50%

Return on equity17.8%

All filed figures

Snapshot

SEC EDGAR · FY 2025-12-31

SectorFinancial Services

Market Cap$4.6B

Enterprise Value$3.7B

Income$281.3M

Sales$1.9B

Book/sh$22.40

Cash/sh$11.45

Dividend TTM$5.70

Payout41%

Employees—

IPO—

Quick Ratio—

Current Ratio—

Debt/Eq—

EPS (ttm)$15.82

EPS this Y54.5%

EPS past 3/5Y34.4%

Sales past 3/5Y9.9%

EPS Y/Y TTM54.5%

Sales Y/Y TTM24.3%

Shs Outstand70.67M

ROA10.9%

ROE17.8%

ROIC—

Gross Margin—

Oper. Margin—

Profit Margin14.8%

Every figure here is filed with the SEC. Valuation and estimate metrics (P/E, PEG, EV/EBITDA, price targets, forward EPS) are omitted until our market-data feed is licensed for display — we’d rather show fewer numbers than blank ones. Deeper lines (cash flow, balance sheet) below.

Revenue by fiscal year

$2.0B

FY21

$1.4B

FY22

$1.4B

FY23

$1.5B

FY24

$1.9B

FY25

Operating leverage — margins

GrossOperatingNet

Financials, annual · income and cash flowSEC EDGAR · open ▸

Financials — annual

SEC EDGAR · last 5 FY · tap a row to explain it

USD	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$2.0B	$1.4B	$1.4B	$1.5B	$1.9B
Gross Profit	—	—	—	—	—
Operating Income	—	—	—	—	—
Net Income	$330.4M	$101.2M	$99.0M	$181.1M	$281.3M
Diluted EPS	$16.43	$6.52	$4.96	$10.24	$15.82
Operating Cash Flow	$707.1M	$-224.9M	$275.6M	$313.3M	$586.6M
Free Cash Flow	—	—	—	—	—

Same industry

PIPR against four brokerage peers, a year at 100

PIPR is down 80.4% in a year. Goldman Sachs is up 17.0%, Morgan Stanley 14.4%, Charles Schwab 2.8% and BlackRock is down 7.5%. All four did more. Weekly closes, Oct 17, 2025 = 100, on a log scale, so the same percentage move is the same height on every line.

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PIPR −80.4%. Goldman Sachs +17.0%, Morgan Stanley +14.4%, Charles Schwab +2.8%, BlackRock −7.5%. Weekly closes, Oct 17, 2025 = 100, log scale.

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End-of-day closes (Databento EOD), the last close of each week. The four peers are the largest US-listed companies by market value in PIPR’s SEC industry (Security Brokers, Dealers & Flotation Companies) with a year of closes. It shows what the closes did; a move here is not a cause, a forecast or a call.

Same industry

In the screener →

MS$285.1B GS$255.9B BLK$172.7B SCHW$167.4B HOOD$92.9B IBKR$37.3B RJF$30.2B FUTU$15.5B

Follow the news. Track the move.

PIPR story timeline

Company updates and connected market context, with the dated price move attached.

Stories

Direct

Sector context/Earnings

Oct 14

Perella Weinberg and Piper Sandler end talks on proposed $6bn merger

Perella Weinberg and Piper Sandler have abandoned merger talks that would have created an independent investment bank valued at $6bn. The breakdown leaves both firms operating separately and removes the proposed combination as a near-term consolidation catalyst.

Price history unavailable

Financial Times · 1d ago

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