Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides advisory, capital markets, and asset management services. The firm generates revenue through advisory fees on mergers and acquisitions and restructurings, underwriting fees from equity and debt capital markets transactions, institutional brokerage commissions, and asset management fees. The filing excerpts provided from the 10-K filed 2026-02-26 (accession 000123024526000013) for the fiscal year ended December 31, 2025 do not contain sufficient detail to specify segment revenue breakdowns, geographic mix, customer concentration, headcount, or named competitors. Based solely on the available excerpts, specific financial metrics, market position details, and operational specifics cannot be reported.

Revenue model

The filing excerpts do not provide sufficient revenue model detail to report specific figures or segment breakdowns for FY2025.

Products and services

The filing excerpts do not provide sufficient product and service detail to enumerate specific offerings beyond the general characterization of an investment bank filing a 10-K for the fiscal year ended December 31, 2025.

Customers and end markets

The filing excerpts do not provide sufficient detail on customer types, end markets, or customer concentration to report specifics.

Value-chain role

Financial intermediary providing advisory, capital markets, and institutional securities services, as indicated by the general nature of the 10-K filing.

Geographic exposure

The filing excerpts do not provide geographic revenue or operational footprint detail.

Source: SEC 10-K, filed 2026-02-26

Industry: Security Brokers, Dealers & Flotation Companies Peers: BRC Group Holdings Inc Bgc Group Inc Freedom Holding Corp Morgan Stanley Evercore Inc Houlihan Lokey Inc StoneX Group Inc Moelis & Co PJT Partners Inc Virtu Financial Inc