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Piper Sandler Companies vs Oppenheimer Holdings: PIPR and OPY compared
Piper Sandler Companies is the larger company: $444M of revenue in its latest quarter (Q3 2026) against $382M for Oppenheimer Holdings (Q3 2026). Piper Sandler Companies is growing faster (-8% against -10% a year earlier). Piper Sandler Companies is more profitable, with an operating margin of 15.0% against 2.3%.
Where the money goes: PIPR and OPY
Piper Sandler Companies (PIPR) · Q3 2026
Piper Sandler Companies, Q3 2026: revenue $444M (-8% year over year), operating margin 15.0%, net earnings $55.4M, operating cash flow $350M. The chart follows the revenue to costs, profit and cash.
Oppenheimer Holdings (OPY) · Q3 2026
Oppenheimer Holdings, Q3 2026: revenue $382M (-10% year over year), operating margin 2.3%, net earnings $5.4M, operating cash flow $132M. The chart follows the revenue to costs, profit and cash.
| Piper Sandler Companies (PIPR) | Oppenheimer Holdings (OPY) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $444M | $382M |
| Revenue growth, Y/Y | -8% | -10% |
| Operating margin | 15.0% | 2.3% |
| Net earnings | $55.4M | $5.4M |
| Net margin | 12.5% | 1.4% |
| Operating cash flow | $350M | $132M |
| Free cash flow | — | $129M |
| Market value | $4.7B | $1.1B |
| P/E | 14.5× | 12.2× |
| Analysts’ mean target | $74.75 | — |
Where the revenue comes from
Oppenheimer Holdings
- Advisory Fees: $155M (41%)
- Commissions from sales and trading: $107M (28%)
- Other revenues: $45.6M (12%)
- Bank Deposit Sweep Income: $25.6M (7%)
Questions
Which is bigger, Piper Sandler Companies or Oppenheimer Holdings?
Piper Sandler Companies is the larger company: $444M of revenue in its latest quarter (Q3 2026) against $382M for Oppenheimer Holdings (Q3 2026).
Is Piper Sandler Companies or Oppenheimer Holdings growing faster?
Piper Sandler Companies is growing faster (-8% against -10% a year earlier).
Which is more profitable, Piper Sandler Companies or Oppenheimer Holdings?
Piper Sandler Companies is more profitable, with an operating margin of 15.0% against 2.3%.
More: Piper Sandler Companies earnings · how Piper Sandler Companies makes money · Oppenheimer Holdings earnings · how Oppenheimer Holdings makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Oct 30, 2026). Fiscal quarters can end on different dates. Not investment advice.