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What this page is: Delvantic's full research page for Piper Sandler Companies (PIPR) — AI-driven forensic equity research: mechanical valuation models (DCF, EPV, anchored-PE, scenario) plus three independent AI lenses (Quality / Value / Sentiment). Everything below is rendered server-side; you are not missing content that requires JavaScript. All scores are predictions and research opinions, not financial advice.
Page map (sections in order; each card carries a stable
reference-name attribute you can cite):
profile-header/price-overview— company profile, live quote, market capextended-analysis— the core: three AI lens reads with findings, scores, and the analyst memofuture-predictions— our forward price-band predictionsmarket-narrative/ai-findings/gpt-critique— narrative context, cross-model findings, and an adversarial critique of our own analysis (near the end of the document)- Members-only sections (render as login gates for anonymous readers):
price-history,income-trend,key-metrics,financials(statement tables),insider-trading. The analysis above is public; the raw data tables require a free account.
More for machine readers: site briefing at
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any ticker resolves at delvantic.com/stock/TICKER ·
raw inputs are public-company filings and market data (via licensed data feeds);
every model, score, lens read, and prediction on this page is Delvantic's own analysis.
Financial Services · Capital Markets
Minneapolis, MN 55401-5711, United States
pipersandler.com
Price
$74.79
Market Cap
$5.0B
Employees
1,915
Beta
1.42
Avg Volume
675,217
Last Dividend
$1.98
CEO
Mr. Chad R. Abraham
Piper Sandler Companies operates as an investment bank and institutional securities firm serving corporations, private equity groups, public entities, non-profit organizations, and institutional investors in the United States and internationally. It provides a comprehensive range of financial services, including financial advisory for mergers and acquisitions, equity and debt capital markets products, public finance services, institutional brokerage, fundamental equity and macro research, fixed income services, and alternative asset management strategies. The firm focuses on sectors such as healthcare, technology, consumer, and financial services, delivering tailored solutions to middle-market clients. Advisory services represent its primary revenue source, complemented by capital markets and trading activities. Founded in 1895 and headquartered in Minneapolis, Minnesota, Piper Sandler Companies plays a key role in facilitating complex transactions and providing market intelligence in the global financial landscape.
Runs with full report
Earnings Schedule
Checked daily · calendar updated Aug 9 No upcoming print on the calendar yet — companies typically confirm a few weeks ahead. Last print was Jul 30, 2026.
EPS surprise history — vs analyst consensus · 3 prints of vendor history
+12.9%
Feb '26
+32.0%
Apr '26
+18.2%
Jul '26
| Print date | EPS est. | EPS actual | Revenue est. | Revenue actual |
|---|---|---|---|---|
| Jul 30, 2026 | $0.88 | $1.04 +18.2% | — | — |
| Apr 30, 2026 | $2.03 | $2.68 +32.0% | — | — |
| Feb 4, 2026 | $0.62 | $0.70 +12.9% | — | — |
Green = beat the estimate, red = missed. An earnings print is the fastest way a thesis changes — our designations should be re-read after each one.
Recent SEC Filings
| Filed | Form | Document |
|---|---|---|
| Aug 5, 2026 | 10-Q | View |
| Jul 31, 2026 | SCHEDULE 13G | View |
| Jul 30, 2026 | 8-K | View |
| Jul 1, 2026 | 4 | View |
| Jul 1, 2026 | 4 | View |
| Jul 1, 2026 | 4 | View |
| Jun 15, 2026 | 4 | View |
| Jun 15, 2026 | 4 | View |
| Jun 15, 2026 | 4 | View |
| Jun 15, 2026 | 4 | View |
| Jun 15, 2026 | 4 | View |
| Jun 15, 2026 | 4 | View |
Filings link to the SEC’s EDGAR system. Annual/quarterly reports (10-K, 10-Q, 20-F) carry the full story; 8-K/6-K current reports are the fastest signal that something material happened.
Price Overview
Last updated: Aug 9, 2026 4:14am (just now)
Current data · timestamped when a report runs
$74.79
Change · Aug 9
+0.39 (+0.52%)
Day Range
$73.68 – $75.51
52-Week Range
$68.70 – $95.07
50-Day MA
$76.38
200-Day MA
$81.40
Volume
540,600.00
Share Structure
Outstanding
70,670,291.00
Float
68,421,562.00
Free Float
96.8%
High free float
— 96.8% of shares trade freely, ~3.2% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
TD Twelve Data statement
HEX SEC filing
P/E Ratio (Price per dollar of earnings)
HEXStock Price / EPS (Diluted)
18.91
Stock Price: $74.79
EPS (Diluted): 3.96
EPS (Diluted): 3.96
P/B Ratio (Price vs net asset value)
HEXStock Price / Book Value Per Share
3.36
Stock Price: $74.79
Total Equity: $1.58B
Shares: 71,132,996
Total Equity: $1.58B
Shares: 71,132,996
EV/EBITDA (Total value vs operating profit)
HEXEnterprise Value / EBITDA
—
Market Cap: $5.05B
Total Debt: $15.00M
Cash: $809.42M
EBITDA: N/A
Total Debt: $15.00M
Cash: $809.42M
EBITDA: N/A
EBITDA not available
Enterprise Value (Takeover price (cap + debt - cash))
HEXMarket Cap + Total Debt - Cash
$4.3B
Market Cap: $5.05B
Total Debt: $15.00M
Cash: $809.42M
Total Debt: $15.00M
Cash: $809.42M
Gross Margin (Revenue left after direct costs)
HEXGross Profit / Revenue
—
Gross Profit: N/A
Revenue: $1.84B
Revenue: $1.84B
Missing from API: Gross Profit
Operating Margin (Revenue left after all operations)
HEXOperating Income / Revenue
—
Operating Income: N/A
Revenue: $1.84B
Revenue: $1.84B
Missing from API: Operating Income
Net Margin (Revenue left as actual profit)
HEXNet Income / Revenue
15.3%
Net Income: $281.33M
Revenue: $1.84B
Revenue: $1.84B
ROE (Profit from shareholder equity)
HEXNet Income / Total Equity
17.8%
Net Income: $281.33M
Total Equity: $1.58B
Total Equity: $1.58B
ROIC (Profit from all invested capital)
HEXNOPAT / Invested Capital
—
Operating Income: N/A
Tax Rate: 21.5%
Equity: $1.58B
Total Debt: $15.00M
Cash: $809.42M
Tax Rate: 21.5%
Equity: $1.58B
Total Debt: $15.00M
Cash: $809.42M
Missing from API: Operating Income
Current Ratio (Can it pay short-term bills)
HEXCurrent Assets / Current Liabilities
—
Current Assets: N/A
Current Liabilities: N/A
Current Liabilities: N/A
Missing from API: Current Assets, Current Liabilities
Debt/Equity (Leverage — debt vs equity)
HEXTotal Debt / Total Equity
0.01
Short-Term Debt: $15.00M
Long-Term Debt: $0.00
Total Debt: $15.00M
Total Equity: $1.58B
Long-Term Debt: $0.00
Total Debt: $15.00M
Total Equity: $1.58B
Rev/Share (Top-line per share)
HEXRevenue / Shares Outstanding
$25.81
Revenue: $1.84B
Shares: 71,132,996
Shares: 71,132,996
Book Value/Share (Net assets per share)
HEX(Total Assets - Total Liabilities) / Shares
$22.25
Total Equity: $1.58B
Shares: 71,132,996
Shares: 71,132,996
FCF/Share (Real cash generated per share)
HEX(Operating Cash Flow + CapEx) / Shares
$8.25
Operating CF: $586.63M
CapEx: $0.00
Shares: 71,132,996
CapEx: $0.00
Shares: 71,132,996
Div Yield (Annual income from holding)
TDLast Annual Dividend / Stock Price
2.6%
Last Dividend: $1.98
Stock Price: $74.79
Stock Price: $74.79
Payout Ratio (Earnings paid out as dividends)
HEXDividends Paid / Net Income
40.6%
Dividends Paid: -$114.15M
Net Income: $281.33M
Net Income: $281.33M
Income Statement (Annual)
Last updated: Aug 9, 2026 4:14am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $2.0B | $1.4B | $1.3B | $1.5B | $1.8B |
| Cost of Revenue | — | — | — | — | — |
| Gross Profit | — | — | — | — | — |
| Operating Expenses | $1.3B | $1.0B | $934.8M | $1.0B | $1.2B |
| Operating Income | — | — | — | — | — |
| Net Income | $278.5M | $110.7M | $85.5M | $181.1M | $281.3M |
| EBITDA | — | — | — | — | — |
| EPS | $19.52 | $7.92 | $5.72 | $11.44 | $4.22 |
| EPS (Diluted) | $16.43 | $6.52 | $4.96 | $10.24 | $3.96 |
Balance Sheet (Annual)
Last updated: Aug 9, 2026 4:14am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $971.0M | $365.6M | $383.1M | $482.8M | $809.4M |
| Total Current Assets | — | — | — | — | — |
| Total Assets | $2.6B | $2.2B | $2.1B | $2.3B | $2.6B |
| Current Liabilities | — | — | — | — | — |
| Long-Term Debt | $125.0M | $125.0M | $0 | — | — |
| Total Liabilities | $1.3B | $927.5M | $841.5M | $840.2M | $1.0B |
| Total Equity | $1.2B | $1.3B | $1.3B | $1.4B | $1.6B |
| Retained Earnings | $450.2M | $453.3M | $454.4M | $561.7M | $728.9M |
Cash Flow (Annual)
Last updated: Aug 9, 2026 4:14am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $707.1M | -$224.9M | $275.6M | $313.3M | $586.6M |
| Capital Expenditure | — | — | — | — | — |
| Free Cash Flow | — | — | — | — | — |
| Acquisitions (net) | $0 | -$96.5M | $0 | -$16.3M | -$9.0M |
| Net Debt Issued / (Repaid) | -$70.0M | $0 | -$125.0M | $0 | $0 |
| Dividends Paid | -$99.4M | -$107.5M | -$84.4M | -$73.7M | -$114.1M |
| Stock Buybacks | -$69.9M | -$187.3M | -$70.7M | -$66.4M | -$125.0M |
| Net Change in Cash | $463.0M | -$605.3M | $17.5M | $99.7M | $326.6M |
Growth Trends (YoY %)
Last updated: Aug 9, 2026 4:14am (just now)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | -30.3% | -5.4% | +13.5% | +24.4% |
| Gross Profit Growth | — | — | — | — |
| Operating Income Growth | — | — | — | — |
| Net Income Growth | -60.3% | -22.8% | +111.9% | +55.3% |
| EBITDA Growth | — | — | — | — |
Dividend History (Last 20)
Last updated: Aug 9, 2026 4:14am (just now)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-05-29 | $0.20 | — | — | — |
| 2026-03-03 | $5.70 | — | — | — |
| 2025-11-25 | $0.70 | — | — | — |
| 2025-08-29 | $0.70 | — | — | — |
| 2025-05-30 | $0.65 | — | — | — |
| 2025-03-04 | $3.00 | — | — | — |
| 2024-11-22 | $0.65 | — | — | — |
| 2024-08-29 | $0.65 | — | — | — |
| 2024-05-23 | $0.60 | — | — | — |
| 2024-03-01 | $1.00 | — | — | — |
| 2023-11-20 | $0.60 | — | — | — |
| 2023-08-24 | $0.60 | — | — | — |
| 2023-05-25 | $0.60 | — | — | — |
| 2023-03-02 | $1.25 | — | — | — |
| 2022-11-22 | $0.60 | — | — | — |
| 2022-08-25 | $0.60 | — | — | — |
| 2022-05-26 | $0.60 | — | — | — |
| 2022-03-01 | $5.10 | — | — | — |
| 2021-11-22 | $3.55 | — | — | — |
| 2021-08-26 | $0.55 | — | — | — |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-30 | Sterling Brian R | A-Award | 345.00 | $0.00 | $0 |
| 2026-06-30 | SORAN PHILIP | A-Award | 345.00 | $0.00 | $0 |
| 2026-06-30 | Gallo Ann C | A-Award | 345.00 | $0.00 | $0 |
| 2026-06-12 | TAYLOR SCOTT C | A-Award | 87.00 | $0.00 | $0 |
| 2026-06-12 | Sterling Brian R | A-Award | 31.00 | $0.00 | $0 |
| 2026-06-12 | SORAN PHILIP | A-Award | 206.00 | $0.00 | $0 |
| 2026-06-12 | Mitchell Robbin | A-Award | 40.00 | $0.00 | $0 |
| 2026-06-12 | HOLT VICTORIA M | A-Award | 76.00 | $0.00 | $0 |
| 2026-06-12 | Gallo Ann C | A-Award | 20.00 | $0.00 | $0 |
| 2026-05-20 | TAYLOR SCOTT C | A-Award | 1,875.00 | $0.00 | $0 |
| 2026-05-20 | Sterling Brian R | A-Award | 1,875.00 | $0.00 | $0 |
| 2026-05-20 | SORAN PHILIP | A-Award | 1,875.00 | $0.00 | $0 |
| 2026-05-20 | SCHREIER THOMAS S JR | A-Award | 1,875.00 | $0.00 | $0 |
| 2026-05-20 | Mitchell Robbin | A-Award | 1,875.00 | $0.00 | $0 |
| 2026-05-20 | HOLT VICTORIA M | A-Award | 1,875.00 | $0.00 | $0 |
| 2026-05-20 | ESSIG STUART | A-Award | 1,875.00 | $0.00 | $0 |
| 2026-05-20 | Gallo Ann C | A-Award | 1,875.00 | $0.00 | $0 |
| 2026-05-05 | Doyle Jonathan J | S-Sale | 6,100.00 | $79.24 | $483,364 |
| 2026-05-05 | Doyle Jonathan J | S-Sale | 38,600.00 | $80.66 | $3.1M |
| 2026-05-05 | Doyle Jonathan J | S-Sale | 300.00 | $81.08 | $24,324 |
Industry Benchmarks
Compares PIPR against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for PIPR — it's generated by the pipeline (
market-narrative step).
Claude Reading
No AI findings yet for PIPR — they're generated by the
pipeline (
ai-findings step) when a report is run on this ticker.
GPT Reading
No GPT reading yet for PIPR — it's generated by the
pipeline (
gpt-critique step) after the other Big-3 seats, when a
report is run on this ticker.
Grok Reading
No Grok reading yet for PIPR — it's generated by the
pipeline (
grok-critique step) alongside the other Big-3 seats, when a
report is run on this ticker.
Advanced Analysis Forensic deep-dive · three lenses
Character & Durability Scorecard
Ten long-horizon business-character traits the Quality / Value / Sentiment lenses don’t break out, scored 1–10.
No scorecard yet for PIPR — the ten traits are scored by the
pipeline (
ext-scorecard step) when a report is run on this ticker.
No community reviews yet for PIPR.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
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Data via Financial Modeling Prep · Cached for performance · twelvedata
v1.1.515 · 9f7cac68 · 2026-08-08 13:09:58