COMP <GO>
PIPR vs MIAX // FORWARD P/E MULTIPLE
Piper Sandler Companies (NYSE) VS. Miami International Holdings Inc. (NYSE) • 15-METRIC TALLY: PIPR 9
— MIAX 1
■ METRIC PARITY
LAST: $67.42 (+5.66%) • MKT CAP: $4.51B
forward-pe
14.5x
LAST: $34.88 (+3.72%) • MKT CAP: $3.34B
forward-pe
—
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (PIPR VS. MIAX)
EMERALD CELL = QUANTITATIVE EDGE
| INSTITUTIONAL METRIC | PIPR | MIAX | SPREAD (A - B) | ADVANTAGE | DEDICATED URL |
|---|---|---|---|---|---|
| Gross Profit Margin | — | — | — | TIE | /gross-margins <GO> |
| Return on Invested Capital (ROIC) | 18.30% | 16.20% | +2.10 | PIPR | /roic <GO> |
| EV/EBITDA & P/E Valuation | 12.0x | 24.1x | -12.10 | PIPR | /valuation <GO> |
| Free Cash Flow Yield | 10.38% | 4.65% | +5.73 | PIPR | /fcf-yield <GO> |
| Operating Margin | 18.70% | 6.70% | +12.00 | PIPR | /operating-margins <GO> |
| Net Profit Margin | 15.30% | -5.10% | +20.40 | PIPR | /net-margins <GO> |
| Revenue Growth (YoY) | 21.70% | 19.60% | +2.10 | PIPR | /revenue-growth <GO> |
| Dividend Yield & FCF Payout Safety | 2.35% | 0.00% | +2.35 | PIPR | /dividend-safety <GO> |
| Altman Z-Score & Debt/Equity | — | — | — | TIE | /balance-sheet <GO> |
| Piotroski F-Score Quality | 9/9 | 5/9 | +4.00 | PIPR | /piotroski-score <GO> |
| Options Implied Move & Put/Call Skew | — | — | — | TIE | /options-implied-move <GO> |
| RSI-14 & 200D SMA Momentum | 43.1 | 51.0 | -7.90 | MIAX | /rsi-technicals <GO> |
| 10Y Yield & FRED Macro Beta | 0.99 | — | — | TIE | /macro-sensitivity <GO> |
| Forward P/E Multiple ACTIVE | 14.5x | — | — | TIE | /forward-pe <GO> |
| Enterprise Scale & Market Cap | $4.51B | $3.34B | $1.17B | PIPR | /market-cap <GO> |
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
| FISCAL YEAR | PIPR REV | MIAX REV | PIPR GROSS % | MIAX GROSS % | PIPR FCF | MIAX FCF |
|---|---|---|---|---|---|---|
| FY 2025 | $1.83B | $1.36B | — | — | $504.1M | $145.0M |
| FY 2024 | $1.51B | $1.14B | — | — | $245.5M | $84.7M |
| FY 2023 | $1.30B | $1.04B | — | — | $217.1M | -$49.2M |
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
PIPR // BETA 0.99
MIAX // BETA —