Piper Sandler Companies

PIPRNYSEFinancial Services● Active

$76.91

+$0.24(+0.31%)

Market Cap$5.5B

P/E Ratio—

52W High$95.065

52W Low$62.495

Avg Volume670K

Open$77.54

Beta1.42

Free Cash Flow Financials Revenue

Piper Sandler Companies (PIPR) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

PIPR · free cash flow · updated Jun 8, 2026

Core FCF metrics

PIPR · FCF · TTM · margin & CAGR

Free cash flow was $697.5M for FY2025 (fiscal year ending 2025-12-31), up 134.3% year-over-year The FCF margin was 36.6%. Five-year CAGR stands at -1.8%.

FY2025 Free Cash Flow$697.5M▲ +134.3% YoY

Trailing 12M (TTM)$571.0Mtrailing 4 quarters sum

FCF Margin36.6%$697.5M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGR-1.8%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

PIPR · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$732.2M(35M)$697.5M▲ +134.3%36.6%

FY2024$313.3M(15M)$297.8M▲ +12.1%20.1%

FY2023$275.6M(10M)$265.6M▲ +203.9%20.3%

FY2022−$224.9M(31M)−$255.5M▼ 137.2%-18.5%

FY2021$707.1M(21M)$686.5M▼ 9.9%34.6%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

PIPR · P/FCF · FCF yield · FCF per share

Piper Sandler Companies (PIPR) trades at a FCF yield of 10.45% and a price-to-free-cash-flow ratio of 9.0x. FCF per share stands at $8.57, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

10.45%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$8.57

TTM FCF ÷ Shares Outstanding

Price / FCF

x9.0

Share Price ÷ FCF per Share

EV / FCF (TTM)

x9.2

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

PIPR · cash flow statement · operating / investing / financing

For FY2025, Piper Sandler Companies generated $732.2M in operating cash flow and spent 35M in capital expenditures, yielding $697.5M in free cash flow.

Operating Activities

+$732.2M

Cash from core business operations

2025-12-31

Investing Activities

−$178.0M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$229.9M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($732.2M) − |CapEx| (35M) = FCF ($697.5M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

PIPR vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Piper Sandler CompaniesYOU

PIPR

$697.5M+134.3%36.6%

Berkshire Hathaway Inc.

BRK-B

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Piper Sandler Companies (PIPR) reported free cash flow of $697.5M for FY2025 (fiscal year ending 2025-12-31), up 134.3% year-over-year. The FCF margin was 36.6%.

Based on available data, Piper Sandler Companies has maintained positive free cash flow for at least 12 fiscal year(s). FCF peaked at $762.2M in FY2020. The 5-year CAGR stands at -1.8%.

Piper Sandler Companies's FCF yield is 10.45% and price-to-FCF ratio is 9.0x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

PIPR free cash flow · 8 questions

Piper Sandler Companies free cash flow was $697.5M for FY2025, up 134.3% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $571.0M.

PIPR free cash flowPIPR FCFPIPR FCF 2025PIPR free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Piper Sandler Companies · Piper Sandler Companies SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026