Stock fact sheet · data as of
Piper Sandler Companies (PIPR): fair value, margin of safety and Wheel Score
Financial Services · Investment - Banking & Investment Services · United States · High Growth
Is PIPR undervalued?
At 64.48 (close of 16 Oct 2026), PIPR trades 53% below the GLS average fair value of 137.37. That average comes from 9 models run on the latest filings, and 5 of them land above the current price. Margins of safety over 30% are the exception rather than the rule across the ~7,400 stocks we value each night, so the number earns Piper Sandler Companies the full Value points in the Wheel Score - and a closer look at what the market is pricing in.
There is a wide gap between DDM (29.43) and Payback Time (353.58). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files PIPR under High Growth: revenue and earnings growing fast enough that the growth-based models carry the valuation.
Nine valuation models for PIPR
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 39.90 | -38% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 45.51 | -29% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 164.36 | +155% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 64.75 | +0% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 277.91 | +331% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 210.41 | +226% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 353.58 | +448% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 29.43 | -54% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 50.44 | -22% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -1.20 | -102% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 80.00 | +24% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Piper Sandler Companies scores 5 of 9 on the Piotroski F-score: a middling result that falls one point short of the Sunday Scan's "6 or more" rule. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. On durability PIPR scores 6.0/10 on the GLS Moat - a middle reading; the Scorecard on the Quote page's Financials tab shows which ten-year lines are steady and which are not.
Returns on capital are high - ROIC 18.9%, ROE 20.5%, ROA 10.9% - with debt at 0.08 times equity and a free-cash-flow yield of 13.3%.
The dividend yield is 3.10% at a payout ratio of 46%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold. Revenue comes mainly from Advisory Services 58%, Equity Sales and Trading 13%, Debt Financing 11% (quarter Q2 FY2026).
Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded insider buy was on 11 Sep 2026.
| Piotroski F-score | 5 / 9 | ROIC | 18.9% |
|---|---|---|---|
| GLS Moat | 6.0 / 10 | ROE | 20.5% |
| Debt / equity | 0.08 | ROA | 10.9% |
| Free-cash-flow yield | 13.3% | Payout ratio | 46% |
| Institutions | 10 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 83: Prime
With a Wheel Score of 83, Piper Sandler Companies sits in the Prime band - price, quality and premium all line up for the wheel strategy. The parts: Value 25/25, Health 11/20, Moat 9/15, Premium 20/20, Stability 18/20. A high score is a ranking, not a signal: it says nothing about timing, the earnings date or your position size.
Implied volatility is 59% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 2,271 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 3.2M shares a day on a market cap of $4.6B, with a beta of 1.44 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score gives that 18 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 53% margin of safety | |
| Health | 11 / 20 | Piotroski 5/9 | |
| Moat | 9 / 15 | moat 6.0/10 | |
| Premium | 20 / 20 | implied volatility 59% | |
| Stability | 18 / 20 | 3.2M shares/day, $4.6B cap, beta 1.44 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
Piper Sandler Companies reports earnings on 30 Oct 2026 (before the open) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Investment - Banking & Investment Services
The 8 companies below are the closest to Piper Sandler Companies by market cap within the Investment - Banking & Investment Services industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| PJT PJT Partners Inc. | 132.18 | 267.10 | +51% | 85Prime | $3.4B |
| HLI Houlihan Lokey, Inc. | 128.51 | 165.16 | +22% | 77Good | $9.0B |
| BRBI BRBI BR Partners S.A. ADSs | 14.39 | 23.31 | +38% | 31No options | $378M |
| BNY Bank of New York Mellon Corp | 142.09 | 142.53 | +0% | 65Good | $96.4B |
| IBKR Interactive Brokers Group, Inc. | 86.03 | 198.39 | +57% | 90Prime | $151.2B |
| CURN Currency Exchange International, Corp. | 21.85 | 38.49 | +43% | 39No options | $129M |
| STEX Streamex Corp. | 0.4301 | - | - | 34Weak | $50M |
| AMTD AMTD IDEA Group | 0.5675 | 45.83 | +99% | 39No options | $4M |
⚖ Compare PIPR with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about PIPR
Is PIPR undervalued right now?
By the GLS models, yes: at 64.48 the stock is 53% below the average fair value of 137.37 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of PIPR and what does it mean?
PIPR scores 83 out of 100 (Prime). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for PIPR?
137.37 per share as of 16 Oct 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Piper Sandler Companies report earnings next?
The next earnings report is due on 30 Oct 2026 (before the open), 14 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does PIPR have listed options, and how liquid are they?
Yes. The nightly snapshot found 160 listed contracts with 2,271 open interest across all expiries and implied volatility of 59% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.