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Piper Sandler PIPR Q4 2025 Annual earnings

Reported February 6, 2026 · Before market open

Revenue$635.0MBeat by $116.8M
EPS$1.72Beat by $0.54
Revenue estimate$518.2M
EPS estimate$1.18

Next report

Jul 30, 2026 (Today)
Revenue estimate$445.3M
EPS estimate$0.88

Financials

Q4 2025

Income statement

See full
Revenue$666.1M+37.6%
Net income$114.0M+65.0%
EPS (diluted)$6.40+65.8%

Balance sheet

See full
Cash & equivalents$809.4M+67.6%
Total debt$116.4M+17.7%
Total equity$1.4B+11.7%
Total assets$2.6B+14.9%

Cash flow

See full
Operating cash flow$729.8M+345%
CapEx$3.3M-60.4%
Free cash flow$726.5M+367%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$5.65B+18.8%
Enterprise value$4.96B+13.4%
P/E20.1×-6.2×
P/S3×-0.1×

Profitability

See full
Net margin14.8%+2.9pp

Returns & leverage

See full
Return on equity21.7%+6.0pp
Debt / equity0.1×0.0×

Versus estimates

Revenue

Q1 2026$474.4MBeat by $38.1M
Q4 2025$635.0MBeat by $116.8M
Q3 2025$462.4MBeat by $38.9MQ2 2025$393.9MMiss by $15.2MQ1 2025$347.9MMiss by $48.3MQ4 2024$468.0MBeat by $90.5M

Diluted EPS

Q1 2026$1.00Beat by $0.15
Q4 2025$1.72Beat by $0.54
Q3 2025$3.82Beat by $0.65Q2 2025$2.95Beat by $0.70Q1 2025$4.09Beat by $1.44Q4 2024$4.80Beat by $0.81

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Questions, answered.

When did Piper Sandler report Q4 2025 earnings?
Piper Sandler (PIPR) reported Q4 2025 earnings on February 6, 2026 before market open.
What were Piper Sandler's Q4 2025 revenue and EPS?
Piper Sandler reported revenue of $635.0M and eps of $1.72 for Q4 2025.
Did Piper Sandler beat estimates in Q4 2025?
Revenue beat the consensus estimate of $518.2M by $116.8M. EPS beat the consensus estimate of $1.18 by $0.54.
How did Piper Sandler's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 35.7% from $468.0M a year earlier and eps declined 64.2% from $4.80.
Where can I find Piper Sandler's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001230245-26-000005) and the 10-K periodic report (0001230245-26-000013) directly on SEC EDGAR. The filing index links above go to sec.gov.