Piper Sandler Companies
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $67.8M | $65.2M | $114.0M | $60.3M | $42.2M | $64.9M | $69.1M | $34.8M |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | $4.9M | $4.7M | $4.4M | $4.7M | $4.1M | $4.2M | $4.1M | $4.2M |
| Amortization | $2.1M | $2.1M | $3.6M | $2.1M | $2.1M | $2.1M | $3.0M | $2.6M |
| Stock-Based Compensation | $28.8M | $28.0M | $48.1M | $23.4M | $21.3M | $31.2M | $32.3M | $20.5M |
| Net Cash from Operating Activities | $36.3M | $-291.7M | $729.8M | $31.9M | $32.1M | $-207.2M | $163.8M | $80.1M |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — |
| Business Acquisitions | $0 | $1.2M | $0 | $9.0M | $0 | $0 | — | — |
| Net Cash from Investing Activities | $-7.8M | $-3.3M | $-3.3M | $-15.0M | $-14.2M | $-11.1M | $-8.5M | $-18.6M |
| Financing Activities | ||||||||
| Dividends Paid | $13.8M | $100.7M | $14.9M | $11.9M | $17.1M | $70.3M | $12.6M | $10.7M |
| Stock Repurchases | $31.0M | $69.9M | $19.8M | $3.7M | $20.9M | $80.6M | $6.5M | $2.4M |
| Net Cash from Financing Activities | $-68.4M | $-168.9M | $-31.3M | $-25.2M | $-22.7M | $-139.6M | $-19.3M | $-35.0M |
| Net Change in Cash | $-40.2M | $-465.0M | $695.4M | $-9.3M | $-2.8M | $-356.8M | $132.6M | $29.3M |
| Free Cash Flow | — | — | — | — | — | — | — | — |