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Piper Sandler PIPR Minimum net capital requirement

Minimum net capital requirement at other companies

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Moelis & CompanyMC
$250K0.0%

Other financials

Income statement

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Revenue$495.5M+24.9%
Net income$67.8M+60.8%
EPS (diluted)$0.95+61.0%

Balance sheet

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Cash & equivalents$304.2M+147%
Total debt$175.0M+50.6%
Total equity$1.4B+11.6%
Total assets$2.3B+18.8%

Cash flow

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Operating cash flow-$291.7M-40.8%
CapEx$7.8M-45.2%
Free cash flow-$293.9M-34.6%

Valuation

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Market cap$5.26B-2.5%
Enterprise value$5.13B-4.7%
P/E17.1×-8.4×
P/S2.5×-0.9×

Profitability

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Net margin14.5%+1.3pp
FCF margin18%

Returns & leverage

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Return on equity23.6%+5.7pp
Debt / equity0.1×0.0×

Where this comes from

Reported directly by Piper Sandler in its filing.

Tagged under the XBRL concept srt:AlternativeNetCapitalRequirement1.

The source filing: Piper Sandler’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 2:19 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001230245-26-000032

Piper Sandler is registered as a securities broker dealer with the SEC and is a member of various SROs and securities exchanges. FINRA serves as Piper Sandler's primary SRO. Piper Sandler is subject to the uniform net capital rule of the SEC and the net capital rule of FINRA. Piper Sandler has elected to use the alternative method permitted by the SEC rule which requires that it maintain minimum net capital of $1.0 million. Advances to affiliates, repayment of subordinated debt, dividend payments and other equity withdrawals by Piper Sandler are subject to certain approvals, notifications and other provisions of SEC and FINRA rules.

Item 1. Financial Statements.

FAQ

What is Piper Sandler's minimum net capital requirement?
Piper Sandler (PIPR) reported minimum net capital requirement of $1M in Q2 2026.
How has Piper Sandler's minimum net capital requirement changed year-over-year?
Piper Sandler's minimum net capital requirement decreased by 0.0% year-over-year, from $1M to $1M.
What is the long-term trend for Piper Sandler's minimum net capital requirement?
Over 5 years (2020 to 2025), Piper Sandler's minimum net capital requirement has grown at a 0.0% compound annual growth rate (CAGR), from $1M to $1M.
What does minimum net capital requirement mean?
This is the minimum amount of liquid assets a broker-dealer must maintain to satisfy regulatory capital standards, typically calculated under SEC Rule 15c3-1. It serves as a mandatory financial buffer to ensure the firm can meet its obligations to customers and creditors in the event of liquidation. This requirement is a fundamental regulatory constraint that dictates the firm's operational leverage and capital adequacy.

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