Demonstrações financeiras detalhadas de Piper Sandler Companies (PIPR): demonstração de resultados, balanço patrimonial e fluxo de caixa. Acompanhe a evolução de margens, dívida, liquidez e rentabilidade ano a ano com até 20 anos de histórico.
Resumo da Análise
Piper Sandler Companies registou receitas de $1.90B no último exercício, com um CAGR de 5 anos de 9.8%. O lucro líquido atingiu $281.3M, com CAGR de 5 anos de 47.3%.
Margens dos últimos 12 meses: margem bruta 96.5%, margem operacional 23.2%, margem líquida 14.6%. O fluxo de caixa livre cresceu a CAGR de -1.8% em 5 anos.
Ao preço atual de $71.36, PIPR negocia a um P/L de 16.03 e um ROE de 22.90%. A capitalização de mercado é de $4.8B.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $762.2M | $835.7M | $724.4M | $810.3M | $1.20B | $1.98B | $1.38B | $1.31B | $1.48B | $1.90B |
| Custo da Receita | $22.5M | $20.3M | $16.6M | $11.7M | $14.4M | $10.7M | $9.5M | $10.1M | $5.7M | $121.8M |
| Lucro Bruto | $739.7M | $815.5M | $707.8M | $798.6M | $1.18B | $1.97B | $1.37B | $1.30B | $1.48B | $1.78B |
| P&D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Despesas Gerais e Administrativas | $541.0M | $618.3M | $515.4M | $544.9M | $890.9M | $1.33B | $1.03B | $934.8M | $1.05B | $1.27B |
| Despesas Operacionais | $770.6M | $736.1M | $635.3M | $679.6M | $1.11B | $1.53B | $1.24B | $1.18B | $1.26B | $1.40B |
| Lucro Operacional | -$30.9M | $79.3M | $72.5M | $119.0M | $68.5M | $441.5M | $134.4M | $122.6M | $218.4M | $385.5M |
| EBITDA | -$3.2M | $102.0M | $91.3M | $138.1M | $124.0M | $484.2M | $165.4M | $160.0M | $245.5M | $412.9M |
| Despesas com Juros | $22.5M | $20.3M | $16.6M | $11.7M | $14.4M | $10.7M | $9.5M | $10.1M | $5.7M | $4.8M |
| Lucro Antes de Impostos | -$30.9M | $79.3M | $72.5M | $119.0M | $68.5M | $441.5M | $134.4M | $122.6M | $218.4M | $374.5M |
| Imposto | -$17.1M | $53.8M | $18.0M | $24.6M | $19.2M | $111.1M | $33.2M | $23.6M | $61.0M | $80.6M |
| Lucro Líquido | -$22.0M | -$61.9M | $57.0M | $111.7M | $40.5M | $278.5M | $110.7M | $85.5M | $181.1M | $281.3M |
| LPA | $-0.43 | $-1.27 | $0.94 | $1.37 | $0.73 | $4.88 | $1.98 | $1.43 | $2.86 | $4.22 |
| LPA Diluído | $-0.43 | $-1.27 | $0.93 | $1.93 | $0.68 | $4.11 | $1.63 | $1.24 | $2.56 | $3.96 |
| Ações em Circulação (Diluídas) | $51.1M | $51.2M | $53.7M | $55.7M | $59.6M | $67.8M | $67.9M | $68.9M | $70.8M | $71.1M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $462.4M | $667.0M | $475.1M | $496.3M |
| Lucro Bruto | $461.6M | $635.2M | $456.4M | $474.1M |
| Lucro Operacional | $107.4M | $189.8M | $88.7M | $101.2M |
| EBITDA | $114.2M | $197.8M | $95.5M | $108.1M |
| Lucro Líquido | $60.3M | $114.0M | $65.2M | $67.8M |
| LPA | $0.90 | $1.69 | $0.96 | $1.00 |
| LPA Diluído | $0.84 | $1.60 | $0.92 | $0.95 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $41.4M | $33.8M | $50.4M | $250.0M | $507.9M | $971.0M | $365.6M | $383.1M | $482.8M | $809.4M |
| Investimentos de Curto Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Contas a Receber | 0 | 0 | 0 | $307.3M | $260.3M | $305.5M | $350.6M | $245.7M | $271.7M | $87.9M |
| Estoque | $464.6M | $663.3M | $479.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $41.4M | $33.8M | $50.4M | $568.0M | $782.9M | $1.30B | $734.9M | $383.1M | $834.0M | $924.9M |
| Imobilizado | $25.3M | $25.2M | $32.6M | $69.9M | $126.4M | $123.1M | $155.9M | $130.2M | $126.0M | $141.3M |
| Ágio | $196.2M | $81.9M | $81.9M | $87.6M | $227.5M | $227.5M | $301.2M | $301.8M | $312.0M | $319.3M |
| Ativos Intangíveis | $37.2M | $22.8M | $12.4M | $16.7M | $149.9M | $119.8M | $135.6M | $116.2M | $107.5M | $99.6M |
| Ativos Totais | $2.13B | $2.02B | $1.35B | $1.63B | $2.00B | $2.57B | $2.18B | $2.14B | $2.26B | $2.59B |
| Contas a Pagar | $40.8M | $19.4M | $8.7M | $7.5M | $18.6M | $13.2M | $4.6M | $979000 | $5.9M | $22.4M |
| Dívida de Curto Prazo | 0 | $289.9M | $50.0M | $50.0M | 0 | 0 | 0 | $30.0M | $10.0M | $15.0M |
| Passivos Circulantes | $772.4M | $916.4M | $617.9M | $57.5M | $18.6M | $137.7M | $60.3M | $135.3M | $36.2M | $40.7M |
| Dívida de Longo Prazo | $175.0M | $125.0M | 0 | $175.0M | $195.0M | $125.0M | $125.0M | $40.4M | 0 | 0 |
| Passivos Totais | $1.31B | $1.28B | $614.9M | $822.2M | $1.07B | $1.34B | $927.5M | $841.5M | $840.2M | $1.01B |
| Reservas | $257.2M | $176.3M | $182.6M | $258.7M | $271.0M | $450.2M | $453.3M | $454.4M | $561.7M | $728.9M |
| Patrimônio Líquido | $759.2M | $693.3M | $677.4M | $731.3M | $829.4M | $1.06B | $1.05B | $1.09B | $1.23B | $1.37B |
| Dívida Total | $593.8M | $414.9M | $50.0M | $282.1M | $294.5M | $214.6M | $234.8M | $164.2M | $98.8M | $116.4M |
| Dívida Líquida | $552.5M | $381.1M | -$411000 | $32.1M | -$213.5M | -$756.3M | -$130.9M | -$218.9M | -$384.0M | -$693.1M |
| Capital de Giro | -$731.1M | -$882.6M | -$567.5M | $510.5M | $764.3M | $1.16B | $674.6M | $247.8M | $797.8M | $884.3M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $114.0M | $809.4M | $344.4M | $304.2M |
| Ativos Totais | $2.22B | $2.59B | $2.13B | $2.33B |
| Passivos Totais | $756.7M | $1.01B | $572.2M | $759.4M |
| Patrimônio Líquido | $1.28B | $1.37B | $1.34B | $1.37B |
| Dívida Total | $114.7M | $116.4M | $112.2M | $175.0M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | -$13.7M | -$59.6M | $55.8M | $118.2M | $49.4M | $330.4M | $101.2M | $99.0M | $157.4M | $281.3M |
| Depreciação e Amortização | $27.6M | $22.7M | $18.8M | $19.1M | $55.4M | $42.7M | $31.0M | $37.4M | $27.1M | $27.4M |
| Compensação em Ações | $56.0M | $39.8M | $44.3M | $32.0M | $121.7M | $171.4M | $131.2M | $93.8M | $103.4M | 0 |
| Variação Capital de Giro | -$133.7M | $82.3M | $386.4M | -$84.4M | $585.9M | $207.0M | -$464.8M | $23.3M | -$8.9M | $256.1M |
| Fluxo de Caixa Operacional | $48.8M | $232.1M | $509.9M | $67.8M | $779.8M | $707.1M | -$224.9M | $275.6M | $313.3M | $732.2M |
| CapEx | -$11.0M | -$8.1M | -$15.9M | -$6.5M | -$17.6M | -$20.6M | -$30.6M | -$10.1M | -$15.5M | -$34.7M |
| Aquisições | -$72.7M | 0 | 0 | $33.2M | -$417.4M | 0 | -$96.5M | 0 | -$16.3M | -$9.0M |
| Recompra de Ações | -$70.9M | -$25.5M | -$70.9M | -$50.6M | -$22.0M | -$69.9M | -$187.3M | -$70.7M | -$66.4M | -$125.0M |
| Dividendos Pagos | 0 | -$18.9M | -$47.2M | -$35.6M | -$28.2M | -$99.3M | -$107.5M | -$84.4M | -$73.7M | -$114.1M |
| Fluxo de Caixa Livre | $37.8M | $224.0M | $494.0M | $61.3M | $762.2M | $686.5M | -$255.5M | $265.6M | $297.8M | $697.5M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $31.9M | $847.3M | -$314.7M | $59.3M |
| CapEx | -$6.0M | -$3.3M | -$2.2M | -$7.8M |
| Fluxo de Caixa Livre | $25.9M | $844.0M | -$316.9M | $51.5M |
| Dividendos Pagos | -$11.9M | -$14.9M | -$100.7M | -$13.8M |
| Compensação em Ações | $23.4M | 0 | 0 | $56.8M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +9.6% | -13.3% | +11.9% | +47.6% | +65.8% | -30.2% | -5.3% | +13.1% | +28.6% |
| Crescimento Lucro Líquido (anual) | | -182.2% | +192.1% | +95.9% | -63.7% | +587.6% | -60.3% | -22.8% | +111.9% | +55.3% |
| Crescimento LPA (anual) | | -193.1% | +174.6% | +44.7% | -46.3% | +563.9% | -59.4% | -27.8% | +100.0% | +47.6% |
| Variação de Ações (anual) | | +0.2% | +4.8% | +3.8% | +6.9% | +13.8% | +0.1% | +1.5% | +2.7% | +0.5% |
| Crescimento FCF (anual) | | +493.2% | +120.5% | -87.6% | +1143.7% | -9.9% | -137.2% | +203.9% | +12.1% | +134.3% |
| Margem Bruta | 97.0% | 97.6% | 97.7% | 98.6% | 98.8% | 99.5% | 99.3% | 99.2% | 99.6% | 93.6% |
| Margem Operacional | -4.1% | 9.5% | 10.0% | 14.7% | 5.7% | 22.3% | 9.7% | 9.4% | 14.7% | 20.2% |
| Margem EBITDA | -0.4% | 12.2% | 12.6% | 17.0% | 10.4% | 24.4% | 12.0% | 12.2% | 16.6% | 21.7% |
| Margem Líquida | -2.9% | -7.4% | 7.9% | 13.8% | 3.4% | 14.0% | 8.0% | 6.5% | 12.2% | 14.8% |
| Margem FCF | 5.0% | 26.8% | 68.2% | 7.6% | 63.7% | 34.6% | -18.5% | 20.3% | 20.1% | 36.6% |
| Taxa Efetiva de Imposto | 55.5% | 67.8% | 24.9% | 20.7% | 28.0% | 25.2% | 24.7% | 19.3% | 27.9% | 21.5% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $0.74 | $4.37 | $9.20 | $1.10 | $12.79 | $10.12 | $-3.77 | $3.85 | $4.21 | $9.81 |
| Dividendo por Ação | $0.00 | $0.37 | $0.88 | $0.64 | $0.47 | $1.46 | $1.58 | $1.23 | $1.04 | $1.60 |
| Ações em Circulação (Básicas) | $50.7M | $51.2M | $52.9M | $54.2M | $55.1M | $57.1M | $55.9M | $59.8M | $63.4M | $66.6M |
O que olhar em empresas de Financial Services
- Efficiency Ratio (≤55%) — Despesas operacionais / receita. Bancos top abaixo de 55%.
- ROA (≥1%) — Quanto ganham por cada euro de ativos. ROE engana em bancos pela alavancagem.
- ROTCE (≥12%) — Rentabilidade sobre Capital Tangível. Exclui goodwill e intangíveis.
- Capital / Ativos (proxy Tier 1) (≥8%) — Proxy do rácio de capital. FMP não expõe Tier 1 regulatório direto.
- P/B (1,0-1,5x) — Métrica clássica bancária. <1x pode ser oportunidade ou distress.
- Dividend yield sustentável (≥2%, <8%) — Bancos UE pagam 5-7% sem stress. >8% é sinal de distress.
Rentabilidade
| Retorno sobre patrimônio | 22.90% |
| Retorno sobre capital investido | 19.85% |
| Retorno sobre ativos | 13.21% |
| Margem bruta | 96.50% |
| Margem operacional | 23.19% |
| Margem líquida | 14.63% |
Saúde financeira
| Dívida / Patrimônio | 0.13 |
| Liquidez corrente | 2.09 |
| Piotroski F-Score | 3 |
| Altman Z-Score | 5.39 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | -41.92 | -17.01 | 17.42 | 14.62 | 34.33 | 9.15 | 16.44 | 30.57 | 26.22 | 20.13 |
| P/VP | 1.21 | 1.59 | 1.29 | 1.48 | 1.68 | 2.40 | 1.73 | 2.41 | 3.87 | 4.13 |
| P/V | 1.21 | 1.32 | 1.20 | 1.34 | 1.16 | 1.28 | 1.32 | 2.00 | 3.21 | 2.97 |
| Margem Bruta | 97.0% | 97.6% | 97.7% | 98.6% | 98.8% | 99.5% | 99.3% | 99.2% | 99.6% | 93.6% |
| Margem Operacional | -4.1% | 9.5% | 10.0% | 14.7% | 5.7% | 22.3% | 9.7% | 9.4% | 14.7% | 20.2% |
| Margem Líquida | -2.9% | -7.4% | 7.9% | 13.8% | 3.4% | 14.0% | 8.0% | 6.5% | 12.2% | 14.8% |