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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues      
Investment banking $ 1,400,866 $ 1,105,135 $ 923,812
Institutional brokerage 433,198 401,442 377,539
Interest income 36,904 32,908 26,723
Investment income/(loss) 33,249 (7,890) 30,039
Total revenues 1,904,217 1,531,595 1,358,113
Interest expense 4,841 5,681 10,146
Net revenues 1,899,376 1,525,914 1,347,967
Non-interest expenses      
Compensation and benefits 1,186,370 1,004,173 897,034
Outside services 58,674 55,756 51,754
Occupancy and equipment 73,451 66,530 64,356
Communications 56,247 54,917 52,718
Marketing and business development 47,201 42,239 37,734
Deal-related expenses 43,483 30,491 28,189
Trade execution and clearance 19,599 19,836 19,972
Restructuring and integration costs 6,144 2,586 7,749
Intangible asset amortization 9,999 10,288 19,440
Other operating expenses 23,661 20,686 46,435
Total non-interest expenses 1,524,829 1,307,502 1,225,381
Income before income tax expense 374,547 218,412 122,586
Income tax expense 80,582 60,972 23,613
Net income 293,965 157,440 98,973
Net income/(loss) attributable to noncontrolling interests 12,634 (23,674) 13,482
Net income attributable to Piper Sandler Companies $ 281,331 $ 181,114 $ 85,491
Earnings per common share      
Basic $ 16.89 $ 11.44 $ 5.72
Diluted 15.82 10.24 4.96
Dividends declared per common share $ 5.70 $ 3.50 $ 3.65
Weighted average number of common shares outstanding      
Basic (in shares) 16,658 15,838 14,958
Diluted (in shares) 17,785 17,695 17,224