What is Piper Sandler's fails to deliver?

Piper Sandler (PIPR) reported fails to deliver of $111.2M in Q1 2026.

How has Piper Sandler's fails to deliver changed year-over-year?

Piper Sandler's fails to deliver increased by 240.5% year-over-year, from $32.65M to $111.2M.

What is the long-term trend for Piper Sandler's fails to deliver?

Over 5 years (2020 to 2025), Piper Sandler's fails to deliver has grown at a -24.7% compound annual growth rate (CAGR), from $221.49M to $53.61M.

Piper Sandler PIPR Fails to deliver

Fails to deliver at other companies

Jefferies Financial GroupJEF

——

Stifel FinancialSF

——

StoneX Group Inc.SNEX

——

Interactive Brokers Group, Inc.IBKR

——

Other financials

Income statement

See full

Revenue$474.4M+32.8%

Net income$65.2M+0.5%

EPS (diluted)$0.92+1.1%

Balance sheet

See full

Cash & equivalents$344.4M+173%

Total debt$112.2M-3.0%

Total equity$1.3B+10.6%

Total assets$2.1B+17.0%

Cash flow

See full

Operating cash flow-$291.7M-40.8%

CapEx$2.2M-80.7%

Free cash flow-$293.9M-34.6%

Valuation

See full

Market cap$5.53B+24.3%

Enterprise value$5.3B+19.3%

P/E19.6×-2.2×

P/S2.7×-0.1×

Profitability

See full

Net margin14%+0.8pp

FCF margin18%—

Returns & leverage

See full

Return on equity22%+4.5pp

Debt / equity0.1×0.0×

Where this comes from

Reported directly by Piper Sandler in its filing.

Tagged under the XBRL concept us-gaap:ReceivablesFromBrokersDealersAndClearingOrganizations.

The official record: Piper Sandler’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

Ask your AI about Piper Sandler's fails to deliver.

Connect your AI assistant and compare it to peers, right in your chat.

Connect your AI

Claude

Questions, answered.

What is Piper Sandler's fails to deliver?: Piper Sandler (PIPR) reported fails to deliver of $111.2M in Q1 2026.
How has Piper Sandler's fails to deliver changed year-over-year?: Piper Sandler's fails to deliver increased by 240.5% year-over-year, from $32.65M to $111.2M.
What is the long-term trend for Piper Sandler's fails to deliver?: Over 5 years (2020 to 2025), Piper Sandler's fails to deliver has grown at a -24.7% compound annual growth rate (CAGR), from $221.49M to $53.61M.