Piper Sandler Companies (PIPR) Fair Value & Analysis
Financial Services · US · Market cap $5.2B
Piper Sandler Companies
PIPR · US
Fair value as of: Jul 20, 2026
From 13 valuation models · updated 20 days ago
Share price +5.5% over the past month.
A strong business, but screening 62% overvalued on our models.
What matters now
- A high-quality business (quality 83/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case ($35.50). The favourable scenario is already priced in.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.
How to read this chart
60‑month range $23.64 – $92.51 · fair‑value band $21.30 – $35.50 · the $74.79 price screens above the $28.40 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.
Analysis
Piper Sandler Companies (PIPR) currently trades at $74.79, while our model-based Fair Value estimate is $28.40, implying the stock looks roughly 62.0% overvalued today. The Quality Score stands at 83/100 (high quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, Piper Sandler Companies generated revenue of $2.0B at a net margin of 14.0%. Revenue grew 32.8% year over year. It earns a return on equity of 22.2%. The balance sheet holds a net cash position of $693M. Fundamentals as of Jul 20, 2026
Our scenario range runs from $21.30 (bear case) to $35.50 (bull case); at $74.79, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 20% below its 52-week high and 23% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 11% fair-value upside, at -62%, PIPR screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 13 models by family
Widest divergence: Growth DCF ($114.75) versus Asset-Based ($13.59). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 82 · Market factors (momentum, volatility) 34
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally.
Full company description
Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. It offers investment banking services, institutional sales, and trading services for various equity and fixed income products; research services; advisory services, such as mergers and acquisitions, equity and debt financings, equity and debt private placements, debt capital markets advisory, restructuring and private capital advisory; municipal financial advisory and loan placement services; and various over-the-counter derivative products, as well as underwrites municipal issuances. The company also provides public finance investment banking services that focus on state and local governments, special districts and development infrastructure, project finance, and cultural and social service non-profit entities, as well as the education, healthcare, hospitality, senior living, housing, and transportation sectors. In addition, it offers equity and fixed income advisory and trade execution services for institutional investors, corporations, and government and non-profit entities. Further, the company has alternative asset management funds in merchant banking and healthcare to invest firm capital and to manage capital from outside investors; equity and debt capital markets products; public finance services; institutional brokerage services; fundamental equity and macro research services; alternative asset management strategies; and fixed income sales and trading solutions to banks, registered investment advisors, public entities, credit unions, asset managers, and insurance companies. The company was formerly known as Piper Jaffray Companies and changed its name to Piper Sandler Companies in January 2020. Piper Sandler Companies was founded in 1895 and is headquartered in Minneapolis, Minnesota.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Piper Sandler Companies reported revenue of $1.9B in FY2025 versus $2.0B in FY2021, a compound −1.0%/yr. Reported net income was $281M in FY2025, compounding +0.3%/yr from FY2021.
PIPR screens 62% overvalued. Compare with Huatai Securities Co →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- How Stronger Q2 Earnings and Capital Returns At Piper Sandler Companies (PIPR) Have Changed Its Investment Story
- AppLovin stock: Piper Sandler cuts rating after first guidance miss since IPO
- Piper Sandler Just Cut Its Price Target on SpaceX Stock. Here's Why.
- Piper Sandler Names CoreWeave Its Top AI Cloud Pick Over Nebius
Peer Group
Capital Markets · 425 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Capital Markets median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 46/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Huatai Securities Co HTSC | $0.2700 | $0.0400 | -85% |
| Mirae Asset Securities Co 006800 | 38,750 KRW | 31,645 KRW | -18% |
| Meritz Financial Group 138040 | 117,000 KRW | 87,706 KRW | -25% |
| Korea Investment Holdings 071050 | 239,000 KRW | 318,825 KRW | +33% |
| NH Investment & Securities Co 005940 | 31,000 KRW | 37,133 KRW | +20% |
| Samsung Securities Co 016360 | 107,700 KRW | 126,487 KRW | +17% |
| Motilal Oswal Financial Services Limited MOTILALOFS | ₹967.00 | ₹299.65 | -69% |
| Kiwoom Securities Co 039490 | 322,000 KRW | 358,091 KRW | +11% |
| SSI Securities Corporation SSI | 24,250 VND | 28,021 VND | +16% |
| Bolsas y Mercados Argentinos S.A BYMA | 313.75 ARS | 120.22 ARS | -62% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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