PIPER SANDLER COMPANIES
Profit Margins
| Fiscal Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| FY2012 | — | 13.6% | 8.1% |
| FY2013 | — | 13.7% | 8.2% |
| FY2014 | — | 16.4% | 9.4% |
| FY2015 | — | 12.4% | 7.5% |
| FY2016 | — | -4.0% | -2.9% |
| FY2017 | — | 9.4% | -7.3% |
| FY2018 | — | 9.6% | 7.5% |
| FY2019 | — | 14.1% | 13.2% |
| FY2020 | — | 5.5% | 3.2% |
| FY2021 | — | 21.6% | 13.6% |