Piper Sandler Companies (PIPR) investor relations material

Value proposition and growth

• Adjusted net revenues reached $2.0B LTM 1Q 2026, with an 11% CAGR since 2016 and operations in six countries.

• Average share price increased 552% since 2016, reflecting strong shareholder returns.

• Growth driven by a capital-light, diversified business model and disciplined operating management.

• 11 acquisitions since 2016 expanded products and sectors, with $589M returned via share repurchases and $580M in dividends since 2020.

• No increase in share count since 2020, maintaining a 40% dividend payout ratio.

Diversified platform and business lines

• Broad product capabilities across investment banking, public finance, equity brokerage, and fixed income.

• Sector coverage includes business services, chemicals, consumer, education, energy, financial services, government, healthcare, industrials, infrastructure, real estate, and technology.

• Client base spans private equity, alternative capital, municipalities, asset managers, banks, and insurance companies.

• Strategic acquisitions enhanced sector and geographic reach, including Simmons & Company, Sandler O'Neill, and Aviditi Advisors.

Investment banking and market leadership

• Investment banking revenues grew from $362M in 2016 to $1.3B LTM 1Q 2026, with a 14% CAGR.

• Managing director headcount rose from 88 to 192, with international MDs increasing from 3 to 21.

• Ranked #2 in U.S. M&A by number of deals for LTM 1Q 2026, with 179 transactions.

• Expanded non-M&A capabilities in equity capital markets, debt capital markets, private capital advisory, and restructuring.

• Advised on high-profile transactions across multiple industries, including healthcare, financial services, and technology.