Piper Sandler CompaniesPIPRNYSE

Revenue (LTM)

$1.9B

+28.6% YoY

Net Income (LTM)

$281M

+55.3% YoY

Free Cash Flow

$698M

Revenue CAGR (5Y)

+9.8%

—Marginsstable

FCF$0.7B

Profitable

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Revenue	1,982	1,383↓30.2%	1,310↓5.3%	1,481↑13.1%	1,904↑28.6%
Gross Profit	1,972	1,374↓30.3%	1,300↓5.4%	1,476↑13.5%	1,782↑20.8%
Operating Income	442	134↓69.6%	123↓8.8%	218↑78.2%	386↑76.5%
Net Income	279	111↓60.3%	85↓22.8%	181↑111.9%	281↑55.3%
EBITDA	484	165↓65.8%	160↓3.3%	245↑53.5%	413↑68.2%
EPS Diluted	16.43	6.52↓60.3%	4.96↓23.9%	10.24↑106.5%	15.82↑54.5%

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Cash & Equivalents	971	366↓62.3%	383↑4.8%	483↑26.0%	0
Total Current Assets	1,295	735↓43.3%	383↓47.9%	834↑117.7%	0
Total Assets	2,565	2,182↓15.0%	2,141↓1.9%	2,256↑5.4%	0
Total Current Liabilities	138	60↓56.2%	135↑124.4%	36↓73.2%	0
Total Liabilities	1,338	928↓30.7%	842↓9.3%	840↓0.2%	-1,463↓274.2%
Total Equity	1,062	1,054↓0.8%	1,085↑3.0%	1,228↑13.1%	1,463↑19.2%
Total Debt	215	235↑9.4%	164↓30.1%	99↓39.8%	0
Net Debt	-756	-131↑82.7%	-219↓67.3%	-384↓75.4%	0

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Operating Cash Flow	707	-225↓131.8%	276↑222.6%	313↑13.7%	732↑133.7%
Capital Expenditure	-21	-31↓48.7%	-10↑67.2%	-15↓54.2%	-35↓123.7%
Free Cash Flow	687	-256↓137.2%	266↑203.9%	298↑12.1%	698↑134.3%
Stock-Based Comp	171	131↓23.5%	94↓28.5%	103↑10.2%	0
Net Change in Cash	463	-605↓230.7%	17↑102.9%	100↑470.8%	327↑227.4%

Values in millions except EPS · Ratios shown as percentages · Click any metric to drill down

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