Company	Price	Valuation					Profitability					Cash & leverage					Quality				Rating
		P/E	P/B	P/S	EV / EBITDA	DCF upside	Gross margin	Operating margin	Net margin	ROE	ROIC	FCF yield	Debt / equity	Net debt / EBITDA	Interest coverage	Current ratio	Dividend yield	Piotroski (0-9)	Altman Z	Rating score (1-5)
PIPRthis companyPiper Sandler Companies	$67.23	20.13×	4.13×	2.97×	12.03×	-39.2%	93.6%	20.2%	14.8%	20.5%	11.8%	12.3%	0.08×	-1.68×	79.64×	22.75×	2.0%	4	5.83	1	C-
FAFFirst American Financial Corporation	$67.00	10.21×	1.15×	0.85×	5.72×	-23.6%	95.6%	11.1%	8.4%	11.3%	18.5%	12.0%	0.35×	0.43×	5.26×	0×	3.5%	6	1.23	4	A
HUTHut 8 Corp.	$56.76	-21.47×	3.4×	20.58×	-23.73×	-114.1%	54.2%	-93.6%	-105.5%	-17.4%	-7.1%	-16.3%	0.3×	-1.75×	-7.32×	1.09×	0.0%	3	1.35	1	D+
LAZLazard Inc	$39.62	19.98×	5.42×	1.49×	12.92×	-3.7%	31.8%	13.0%	7.4%	27.1%	8.8%	10.7%	2.95×	2.39×	4.74×	29.35×	3.9%	7	2.46	3	B+
MCMoelis & Company	$58.03	22.1×	9.07×	3.4×	14.49×	-58.0%	99.2%	18.1%	15.4%	41.0%	12.0%	10.5%	0.47×	-0.71×	0×	21.47×	4.0%	7	4.62	3	B+
MKTXMarketAxess Holdings Inc.	$165.52	27.21×	5.82×	7.86×	14.22×	-7.8%	69.9%	41.2%	29.0%	21.5%	16.3%	5.6%	0.25×	-0.52×	235.35×	1.84×	1.7%	5	5.88	4	A-
Peer median	—	19.98×	5.42×	3.4×	12.92×	-23.6%	69.9%	13.0%	8.4%	21.5%	12.0%	10.5%	0.35×	-0.52×	4.74×	1.84×	3.5%	6	2.46	3	—