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Piper Sandler PIPR Fixed income services — Institutional brokerage

Other segment segments

Equity brokerage
$60.47M+11.5%

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Other financials

Income statement

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Revenue$474.4M+32.8%
Net income$65.2M+0.5%
EPS (diluted)$0.92+1.1%

Balance sheet

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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

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Operating cash flow-$291.7M-40.8%
CapEx$2.2M-80.7%
Free cash flow-$293.9M-34.6%

Valuation

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Market cap$5.53B+24.3%
Enterprise value$5.3B+19.3%
P/E19.6×-2.2×
P/S2.7×-0.1×

Profitability

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Net margin14%+0.8pp
FCF margin18%—

Returns & leverage

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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 pipr:InstitutionalBrokerageRevenue.

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

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Questions, answered.

What is Piper Sandler's fixed income services — institutional brokerage?
Piper Sandler (PIPR) reported fixed income services — institutional brokerage of $50.38M in Q1 2026.
How has Piper Sandler's fixed income services — institutional brokerage changed year-over-year?
Piper Sandler's fixed income services — institutional brokerage increased by 5.7% year-over-year, from $47.67M to $50.38M.
What is the long-term trend for Piper Sandler's fixed income services — institutional brokerage?
Over 2 years (2023 to 2025), Piper Sandler's fixed income services — institutional brokerage has grown at a 10.6% compound annual growth rate (CAGR), from $168.03M to $205.59M.
What does fixed income services — institutional brokerage mean?
This metric represents the revenue generated from facilitating the trading and brokerage of debt instruments for institutional clients. It captures the firm's role as an intermediary in the secondary market for corporate, government, and municipal fixed-income securities. This revenue stream reflects the company's market-making capabilities and the volume of client activity within the broader fixed-income landscape.