PIPER SANDLER COMPANIES
Profit Margins
| Period | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| Mar 2022 | — | 10.1% | 10.4% |
| Jun 2022 | — | 10.5% | 6.0% |
| Sep 2022 | — | 5.7% | 4.3% |
| Dec 2022 | — | 10.8% | 9.7% |
| Mar 2023 | — | 8.6% | 8.5% |
| Jun 2023 | — | 4.9% | 1.4% |
| Sep 2023 | — | -1.2% | 1.3% |
| Dec 2023 | — | 18.1% | 11.0% |
| Mar 2024 | — | 15.2% | 12.3% |
| Jun 2024 | — | 8.3% | 10.2% |
| Sep 2024 | — | 15.4% | 9.6% |
| Dec 2024 | — | 16.9% | 14.2% |
| Mar 2025 | — | 8.2% | 18.1% |
| Jun 2025 | — | 12.3% | 10.6% |
| Sep 2025 | — | 22.4% | 12.6% |
| Dec 2025 | — | 28.3% | 17.1% |
| Mar 2026 | — | 18.5% | 13.7% |
| Jun 2026 | — | 20.2% | 13.7% |