Piper Sandler Companies Financial Ratios — PIPR Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	-79.24	41.95	31.86	32.28	20.56	-8.18	-28.55	31.76	50.59	15.28	77.2	24.49	18.83	35.64	43.58
Return on Assets (%)	-5.53	2.2	2.05	2.56	2.19	-1.03	-2.98	3.38	7.51	2.23	12.21	4.66	3.96	8.24	11.6
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	3.69	3.05	2.65	2.27	1.91	3.73	2.78	2.66	2.39	4.69	2.17	2.26	2.88	1.83	1.49
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	-18.95	14.35	14.63	17.22	12.99	-4.17	9.73	10.24	14.9	5.8	22.39	9.78	9.43	14.8	20.4
Profit Margin (%)	-24.11	8.58	8.72	9.86	7.83	-2.97	-7.6	8.06	13.99	3.43	14.13	8.06	6.58	12.27	15.32
Net Income to Common Margin (%)	-24.11	8.58	8.72	9.86	7.83	-2.97	-7.6	8.06	13.99	3.43	14.13	8.06	6.58	12.27	15.32
Effective Tax Rate (%)	- -	28.21	26.97	32.62	32.33	- -	67.84	24.89	20.66	28	25.17	24.7	19.26	27.92	21.51
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	67.92	88.58	35.29	48.4	25.99	117.28	75.09	55.12	37.23
Sustainable Growth Rate (%)	-79.24	41.95	31.86	32.28	20.56	-8.18	-9.16	3.63	32.74	7.89	57.13	-4.23	4.69	15.99	27.36

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	284	602	640	503	621	594	415	50	282	294	215	235	124	99	116
ST Debt	194	477	515	378	446	419	290	50	50	- -	- -	- -	30	10	15
LT Debt	90	125	125	125	175	175	125	- -	232	294	215	235	94	89	101
Total Debt/EBITDA	18.17	41.03	46.67	34.58	48.84	21.5	18.32	2.65	14.75	5.31	5.03	7.57	3.31	3.65	4.25
Net Debt/EBITDA	12.72	33.85	37.65	33.48	33.91	20	16.83	-0.02	-1.31	-5.65	-19.81	-7.76	-8.37	-17.47	-29.01
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	4.69	5.7	7.08	8.66	13.06	12.11	8.72	13.58	15.89	13.58	17.56	20.79	21.23	24.91	28.12
Long-Term Debt/Equity (%)	11.99	15.82	14.17	12.89	21.01	21.44	16.86	- -	28.79	31.8	17.49	18.72	7.21	6.27	6.4
Long-Term Debt/Capital (%)	22.86	16.07	13.14	14.21	18.43	19.27	19.55	- -	37.67	44.46	25.87	26.43	11.83	10.47	9.59
Long-Term Debt/Total Assets (%)	5.44	5.99	5.39	4.76	8.18	8.23	6.17	- -	14.25	14.74	8.37	10.76	4.38	3.94	3.91
Total Debt/Equity (%)	37.8	76.19	72.52	51.86	74.59	72.75	55.98	6.84	34.98	31.8	17.49	18.72	9.52	6.98	7.35
Total Debt/Capital (%)	72.07	77.39	67.25	57.16	65.41	65.38	64.9	17.49	45.78	44.46	25.87	26.43	15.62	11.64	11
Total Debt/Total Assets (%)	17.13	28.84	27.6	19.16	29.05	27.94	20.49	3.71	17.32	14.74	8.37	10.76	5.78	4.38	4.49
Net Debt to Equity	26.47	62.85	58.5	50.22	51.79	67.68	51.42	-0.06	-3.1	-33.79	-68.95	-19.19	-24.06	-33.4	-50.19
Net Debt/Capital (%)	64.38	73.85	62.36	56.37	56.76	63.73	62.95	-0.17	-6.84	-202.68	598.55	-46.04	-76.42	-129.24	-320.53
EBITDA	16	15	14	15	13	28	23	19	19	55	43	31	37	27	27
EBITDA-CapEx	8	13	8	7	7	17	15	3	13	38	22	- -	27	12	-7
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	4.69	5.7	7.08	8.66	13.06	12.11	8.72	13.58	15.89	13.58	17.56	20.79	21.23	24.91	28.12
Long-Term Debt/Equity (%)	11.99	15.82	14.17	12.89	21.01	21.44	16.86	- -	28.79	31.8	17.49	18.72	7.21	6.27	6.4
Long-Term Debt/Capital (%)	22.86	16.07	13.14	14.21	18.43	19.27	19.55	- -	37.67	44.46	25.87	26.43	11.83	10.47	9.59
Long-Term Debt/Total Assets (%)	5.44	5.99	5.39	4.76	8.18	8.23	6.17	- -	14.25	14.74	8.37	10.76	4.38	3.94	3.91
Total Debt/Equity (%)	37.8	76.19	72.52	51.86	74.59	72.75	55.98	6.84	34.98	31.8	17.49	18.72	9.52	6.98	7.35
Total Debt/Capital (%)	72.07	77.39	67.25	57.16	65.41	65.38	64.9	17.49	45.78	44.46	25.87	26.43	15.62	11.64	11
Total Debt/Total Assets (%)	17.13	28.84	27.6	19.16	29.05	27.94	20.49	3.71	17.32	14.74	8.37	10.76	5.78	4.38	4.49
CFO/Total Liabilities	22.69	-16.32	2.94	-3.03	29.07	-0.25	15.82	82.91	8.25	72.8	52.83	-24.25	32.75	37.29	58.09
CFO/CapEx	26.85	-99.38	7.7	-6.78	64.17	-0.29	25.39	32.26	10.4	44.35	34.36	-7.35	27.42	20.21	16.92
Altman's Z-Score	0.59	0.58	0.61	0.72	0.83	1	1.07	1.62	1.55	1.74	2.31	2.33	2.99	4.62	4.68

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	3.31	13.48	10.04	12.87	12.16	11.41	17.75	27.71	35.66	39.12	43.7	29.21	36.92	23.62	19.85
Days Sales Outstanding	110.39	27.08	36.37	28.36	30	32	20.56	13.17	10.23	9.33	8.35	12.5	9.89	15.45	18.39
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	317	502	595	870	580	919	1,104	871	1,084	1,391	2,547	1,820	2,616	4,751	5,659
- Cash & Cash Equivalents	85	105	124	16	190	41	34	50	250	508	971	366	383	483	809
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	32	57	147	150	49	57	48	53	75	97	165	200	214	188	212
+ Total Debt	284	602	640	503	621	594	415	50	282	294	215	235	124	99	116
Enterprise Value	547	1,055	1,259	1,506	1,061	1,529	1,534	924	1,191	1,274	1,955	1,890	2,570	4,555	5,178
Total Capital	394	778	951	880	950	908	639	286	616	662	830	888	792	849	1,057
Total Debt/Capital (%)	72.07	77.39	67.25	57.16	65.41	65.38	64.9	17.49	45.78	44.46	25.87	26.43	15.62	11.64	11
Total Debt / EV	0.52	0.57	0.51	0.33	0.59	0.39	0.27	0.05	0.24	0.23	0.11	0.12	0.05	0.02	0.02
EV/Sales	1.29	2.19	2.43	2.35	1.6	2.07	1.88	1.31	1.49	1.08	0.99	1.38	1.98	3.09	2.82
EV/EBITDA	35.06	71.9	91.82	103.57	83.4	55.34	67.7	49.1	62.29	22.98	45.77	60.93	68.78	168.25	189.06
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	2.67	- -	29.85	- -	2.8	- -	7.55	1.81	17.57	1.63	2.76	- -	9.33	14.54	8.83
EV/Free Cash Flow to Firm	2.57	- -	26.42	- -	2.75	196.18	7.27	1.76	16.03	1.6	2.69	- -	9	13.85	8.33
Diluted Market Cap	317	502	596	873	581	927	1,119	884	1,114	1,504	3,027	2,209	3,012	5,308	6,042
Diluted Enterprise Value	547	1,055	1,259	1,509	1,062	1,536	1,548	936	1,222	1,387	2,435	2,278	2,967	5,112	5,561
EV per Share	8.73	16.89	20.91	25.15	18.46	30.15	29.94	17.45	21.97	23.11	34.26	33.79	42.96	71.9	77.71
TTM Sales	423	481	517	641	665	740	815	708	799	1,181	1,972	1,374	1,300	1,476	1,836
TTM EBITDA	16	15	14	15	13	28	23	19	19	55	43	31	37	27	27
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	205	-212	42	-50	380	-3	203	510	68	780	707	-225	276	313	587
TTM Free Cash Flow to Firm	213	-210	48	-43	385	8	211	526	74	797	728	-194	286	329	621

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	1.49	-2.39	12.51	-20.45	1.51	118.93	5.3	1.68	15	1.89	4.16	-11.37	10.54	16.15	9.72
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	547	1,055	1,259	1,506	1,061	1,529	1,534	924	1,191	1,274	1,955	1,890	2,570	4,555	5,178
Low Price	4.18	4.84	7.37	9.22	8.29	7.92	13.19	15.34	16.17	7.99	22.71	25.65	30.24	40.63	50.73
EV/Sales	1.29	2.19	2.43	2.35	1.6	2.07	1.88	1.31	1.49	1.08	0.99	1.38	1.98	3.09	2.82
EV/EBITDA	35.06	71.9	91.82	103.57	83.4	55.34	67.7	49.1	62.29	22.98	45.77	60.93	68.78	168.25	189.06
Price/Earnings	- -	12.15	13.2	13.76	11.15	- -	- -	15.28	9.7	34.34	9.14	16.45	30.6	26.23	20.12
Price/Earnings Average	-4.52	9.33	11.8	11.52	12.64	-27.39	-13.55	18.16	9.06	24.39	6.84	16.26	25	21.07	17.79
Price/Earnings High	-6.85	12.34	14.2	14.21	16.25	-44.92	-18.08	23.16	10.02	36.12	9.92	23.62	32	30.76	22.19
Price/Earnings Low	-2.57	7.33	9.84	8.74	9.15	-18.29	-10.91	14.24	7.85	10.87	4.65	12.96	21.16	14.21	12.02
Price/Book Value	4.07	4.21	3.63	3.83	2.08	3.57	6.26	4.77	4.19	5.13	5.65	4.01	5.75	8.45	7.76
Price/Book Value Average	5.93	3.24	3.24	3.2	2.36	2.34	4.76	5.67	3.91	3.64	4.23	3.97	4.7	6.79	6.87
Price/Book Value High	8.98	4.28	3.9	3.95	3.03	3.83	6.35	7.23	4.32	5.39	6.13	5.77	6.02	9.92	8.56
Price/Book Value Low	3.37	2.54	2.7	2.43	1.71	1.56	3.83	4.44	3.39	1.62	2.88	3.16	3.98	4.58	4.64
Price/Tangible Book Value	0.63	0.91	0.94	1.2	0.99	1.58	1.74	1.35	1.54	2.53	2.9	2.23	2.97	4.77	4.86
Price/Tangible Book Value Average	0.91	0.7	0.84	1	1.13	1.03	1.32	1.61	1.44	1.8	2.16	2.2	2.42	3.83	4.3
Price/Tangible Book Value High	1.38	0.92	1.01	1.23	1.45	1.69	1.76	2.05	1.59	2.67	3.14	3.2	3.1	5.59	5.36
Price/Tangible Book Value Low	0.52	0.55	0.7	0.76	0.82	0.69	1.06	1.26	1.25	0.8	1.47	1.76	2.05	2.58	2.9
Price/Sales	0.75	1.04	1.15	1.36	0.87	1.24	1.35	1.23	1.36	1.18	1.29	1.33	2.01	3.22	3.08
Price/Sales Average	1.09	0.8	1.03	1.14	0.99	0.81	1.03	1.46	1.27	0.84	0.97	1.31	1.64	2.59	2.73
Price/Sales High	1.65	1.06	1.24	1.4	1.27	1.33	1.37	1.87	1.4	1.24	1.4	1.9	2.1	3.78	3.4
Price/Sales Low	0.62	0.63	0.86	0.86	0.72	0.54	0.83	1.15	1.1	0.37	0.66	1.04	1.39	1.74	1.84
Price/Cash Flow	1.54	-2.37	14.12	-17.37	1.53	-285	5.44	1.71	15.99	1.78	3.6	-8.09	9.49	15.17	9.65
Price/Cash Flow Average	2.25	-1.82	12.61	-14.53	1.73	-186.43	4.14	2.03	14.93	1.27	2.69	-8	7.75	12.18	8.53
Price/Cash Flow High	3.4	-2.4	15.19	-17.93	2.23	-305.75	5.52	2.59	16.51	1.88	3.91	-11.63	9.92	17.79	10.64
Price/Cash Flow Low	1.28	-1.43	10.52	-11.03	1.26	-124.5	3.33	1.59	12.93	0.56	1.83	-6.38	6.56	8.22	5.76
Price/Free Cash Flow Average	2.16	-1.84	11.18	-17.11	1.71	77.8	4.03	2	14.01	1.34	3.11	-11.24	8.61	12.97	8.6
Price/Free Cash Flow High	3.28	-2.43	13.46	-21.11	2.2	127.59	5.38	2.55	15.48	1.98	4.51	-16.33	11.03	18.94	10.73
Price/Free Cash Flow Low	1.23	-1.44	9.32	-12.98	1.24	51.96	3.25	1.57	12.13	0.6	2.12	-8.96	7.29	8.75	5.81
EV/Sales Average	1.64	1.95	2.31	2.13	1.71	1.64	1.56	1.54	1.4	0.74	0.67	1.36	1.61	2.45	2.46
EV/Sales High	2.2	2.21	2.52	2.4	1.99	2.16	1.9	1.94	1.54	1.14	1.1	1.95	2.07	3.64	3.14
EV/Sales Low	1.16	1.78	2.14	1.86	1.44	1.37	1.35	1.22	1.23	0.27	0.36	1.09	1.36	1.61	1.58
EV/EBITDA Average	44.31	63.97	87.2	93.8	89.5	43.83	56	57.82	58.55	15.72	30.73	60.27	55.97	133.74	165.2
EV/EBITDA High	59.51	72.41	95.12	105.5	104.28	57.76	68.38	72.98	64.14	24.29	50.81	86.53	71.98	198.58	210.37
EV/EBITDA Low	31.57	58.32	80.76	81.74	75.23	36.6	48.77	45.95	51.46	5.84	16.49	48.48	47.2	87.84	105.85
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	5.05	8.03	9.89	14.52	10.1	18.13	21.56	16.46	19.99	25.23	44.63	32.55	43.72	74.99	84.93
High Price	11.14	8.15	10.64	14.99	14.72	19.45	21.86	24.95	20.64	26.54	48.4	46.75	45.72	87.95	93.69
Enterprise Value Average	692	939	1,195	1,364	1,138	1,211	1,269	1,088	1,120	871	1,313	1,869	2,092	3,620	4,524
Enterprise Value High	929	1,063	1,304	1,534	1,326	1,596	1,549	1,373	1,226	1,346	2,170	2,684	2,690	5,376	5,761
Enterprise Value Low	493	856	1,107	1,189	957	1,011	1,105	865	984	324	704	1,504	1,764	2,378	2,899

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	63	61	58	61	53	50	52	52	55	55	56	55	61	64	67
Diluted Weighted Avg Shares	63	62	60	60	58	51	52	54	56	60	68	68	69	71	71
Basic Weighted Avg Shares	63	62	60	60	57	51	51	53	54	55	57	56	60	63	67
Revenue per Share	6.75	7.7	8.59	10.7	11.57	14.59	15.92	13.37	14.73	21.43	34.55	24.56	21.72	23.29	27.56
EBITDA per Share	0.25	0.23	0.23	0.24	0.22	0.54	0.44	0.36	0.35	1.01	0.75	0.55	0.62	0.43	0.41
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	-1.63	0.66	0.75	1.05	0.91	-0.43	-1.21	1.08	2.06	0.73	4.88	1.98	1.43	2.86	4.22
Basic EPS from Cont Ops	-1.42	0.79	0.92	1.24	1.02	-0.27	0.5	1.03	1.74	0.9	5.79	1.81	1.65	2.49	4.41
Diluted EPS, GAAP	-1.63	0.66	0.75	1.05	0.9	-0.43	-1.19	1.06	2	0.68	4.11	1.63	1.24	2.56	3.95
Diluted EPS from Cont Ops	-1.42	0.79	0.92	1.24	1.02	-0.27	0.49	1.01	1.69	0.83	4.87	1.49	1.44	2.22	4.13
Dividend per Share	- -	- -	- -	- -	- -	- -	0.37	0.89	0.66	0.51	1.74	1.92	1.41	1.16	1.71
Cash Flow per Share	3.28	-3.39	0.7	-0.84	6.6	-0.06	3.96	9.63	1.25	14.15	12.39	-4.02	4.61	4.94	8.8
Free Cash Flow per Basic Share	3.15	-3.42	0.61	-0.96	6.5	-0.28	3.81	9.33	1.13	13.83	12.03	-4.57	4.44	4.7	8.28
Cash & Equivalents per Share	1.36	1.69	2.06	0.26	3.3	0.82	0.66	0.95	4.61	9.21	17.02	6.54	6.4	7.62	12.15
Book Value per Share	1.24	1.91	2.73	3.8	4.86	5.08	3.44	3.45	4.77	4.92	7.89	8.11	7.6	8.87	10.94
Tangible Book Value per Share	8.06	8.84	10.49	12.14	10.17	11.5	12.43	12.17	12.95	9.95	15.41	14.61	14.73	15.73	17.47

Piper Sandler Companies

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

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Per Share Data Items (USD)