v3.26.1
Business Segment and Revenues Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Business Segment and Revenues Information BUSINESS SEGMENT AND REVENUES INFORMATION
The Company's activities as an investment bank and institutional securities firm constitute a single business segment. Revenues for the Company are derived from investment banking services and institutional sales, trading and research services. The Company is organized as one reportable segment in order to maximize the value provided to clients by leveraging the diversified expertise and broad relationships of its experienced professionals across the Company. Substantially all of the Company's net revenues and long-lived assets are located in the U.S. The accounting policies for the reportable segment are the same as those described in Note 2.

The Company's chief operating decision maker ("CODM") is the chief executive officer. The CODM, who manages business activities on a consolidated basis, considers monthly plan-to-actual variances of net income attributable to Piper Sandler Companies in assessing performance, determining compensation and making decisions about the use of capital, including repurchases of common stock, dividend payments, and acquisitions.

The CODM evaluates the performance and allocates resources of the reportable segment based on net income attributable to Piper Sandler Companies as reported on the consolidated statements of operations. For the three months ended June 30, 2026 and 2025, net income attributable to Piper Sandler Companies was $67.8 million and $42.2 million, respectively. For the six months ended June 30, 2026 and 2025, net income attributable to Piper Sandler Companies was $133.1 million and $107.1 million, respectively. The significant expense categories of the reportable segment are consistent with the presentation of non-interest expenses on the consolidated statements of operations. The measure of reportable segment assets is reported on the consolidated statements of financial condition as total assets. At June 30, 2026 and December 31, 2025, total assets were $2.33 billion and $2.59 billion, respectively.

The components of net revenues are as follows:
Three Months EndedSix Months Ended
June 30,June 30,
(Amounts in thousands)2026202520262025
Revenues
Revenues from contracts with customers:
Investment banking:
Advisory services$274,211 $204,841 $525,173 $421,641 
Corporate financing37,805 34,246 111,120 67,307 
Municipal financing49,511 41,907 73,424 68,310 
Total investment banking361,527 280,994 709,717 557,258 
Institutional brokerage:
Equity brokerage62,907 58,083 123,377 112,337 
Fixed income services48,625 56,382 99,000 104,052 
Total institutional brokerage111,532 114,465 222,377 216,389 
Total revenues from contracts with customers473,059 395,459 932,094 773,647 
Interest income9,104 7,947 20,750 17,910 
Investment income/(loss)14,091 (4,829)18,555 (34,426)
Total revenues496,254 398,577 971,399 757,131 
Interest expense739 1,799 1,475 3,081 
Net revenues$495,515 $396,778 $969,924 $754,050