Pricing Log in Create free account
Friday 6 November 2026 Export PPIH’s income statement to Excel — free account

Perma-Pipe International Holdings, Inc.

PPIH Industrials Building Products & Equipment

Perma-Pipe International Holdings, Inc.’s revenue for fiscal 2026 (year ended January 2026) was $210.9 million, up 33.2% from fiscal 2025.

Revenue
+24.4%
EPS
+181.8%
Free cash flow
+216.1%
Total debt
+258.1%

Quarter to July 2026, against a year earlier

27.87 0.66 +2.43%
Market cap
$223.0M
P/E
14.2×
Fwd P/E
19.3×
Dividend yield
—
F-score
5/9
Altman Z
3.12
Beneish M
−1.83
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 5.47%

Capital & Financial Ratios $m

Size
Market Cap 222.99
Revenue ttm 226.11
Net income ttm 19.39
Free cash flow ttm 13.72
Net debt Q 1.31
Valuation
P/E 14.22
Forward P/E 19.30
Price / sales 0.99
Forward P/S Powerpack
Price / FCF 16.26
Price / book 2.39
Financial health
Current ratio Q 2.19 (at or above 1.5: strong)
Debt / equity Q 0.39 (at or below 0.5: strong)
Interest coverage Q 8.39
Growth
Revenue growth Q +24.35% (above 0%: growing)
Operating income growth Q +33.45% (above 0%: growing)
EPS, this year −27.27% (below 0%: weak)
EPS, next year A +63.82% (at or above 15%: strong)
Revenue, next year A +11.41% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +6.15%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.0×, against a ten-year median of 0.6×; over the ten years it ranged from 0.3× in 2020 to 1.3× in 2026.
P/E against its own 10 years 47.69%
10-year low 10-year high
P/S against its own 10 years 89.15%
10-year low 10-year high
P/B against its own 10 years 90.50%
10-year low 10-year high
EV/Sales against its own 10 years 89.88%
10-year low 10-year high
EV/FCF against its own 10 years 48.13%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 7 17 22 35
Receivables 63 62 95 87
Inventory 16 17 18 19
Other 3 3 5 7
99 109 147 154
2024 2025 2026 Q'26
Payables 25 24 25 36
ST’ Debt 4 9 20 6
Other 5 4 14 9
58 54 80 70

Compound Annual Growth %

10y 5y 3y
Sales 5.57% 20.02% 13.95%
Cash Flow 0.00% 123.34% 0.00%
Earnings 0.00% 0.00% 42.04%
Book Value 2.76% 12.95% 16.19%

EPS $

Apr Jul Oct Jan Year
’26 0.22 0.31 — — —
’26 0.61 0.10 0.77 0.60 2.09
’25 0.18 0.40 0.31 0.22 1.12
’24 (0.14) 0.13 0.24 1.08 1.30
’23 (0.11) 0.23 0.21 0.39 0.73
’22 (0.10) 0.41 0.06 0.36 0.72
’21 (0.31) 0.03 (0.35) (0.31) (0.94)
Fiscal quarters ending in the months shown.

Revenue $m

Apr Jul Oct Jan Year
’26 50 60 — — —
’26 47 48 61 55 211
’25 34 38 42 45 158
’24 30 35 46 40 151
’23 31 37 38 36 143
’22 24 40 35 39 139
’21 23 20 20 21 85
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Apr Jul Oct Jan Year
’26 6 7 — — —
’26 1 (2) 17 (7) 9
’25 0 3 5 6 14
’24 4 0 4 7 15
’23 (7) (4) 6 4 (1)
’22 (2) (3) 5 (3) (3)
’21 1 2 (1) (2) 0
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Apr Jul Oct Jan Year
’26 5 5 — — —
’26 0 (5) 12 (9) (1)
’25 (1) 2 5 5 11
’24 1 (4) 3 4 4
’23 — — — 0 (8)
’23 (7) (6) 5 — (1)
’22 — — — (3) (5)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to January

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Jul ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 99 105 129 128 85 139 143 151 158 211 226 +8.8% 235 257 277 +9.5%
Gross margin, % 11.85 11.16 18.08 22.75 13.20 23.48 26.86 27.52 33.62 32.94 31.13 +21.1 pt
EBT (14) (10) 2 5 (8) 8 10 10 18 27 25 n/m
EBT margin, % (13.93) (9.70) 1.24 3.94 (9.18) 6.01 6.70 6.56 11.66 13.03 11.10 +27.0 pt
Net income (12) (10) (1) 4 (8) 6 6 13 13 21 19 n/m
Per share, $
Per share, $ Revenue 13.20 13.70 16.51 15.98 10.42 17.08 17.87 18.89 19.91 26.21 27.69 +7.9%
Earnings (1.56) (1.30) (0.07) 0.45 (0.94) 0.75 0.75 1.31 1.13 2.12 1.92 n/m
Cash flow (0.73) (0.24) 0.64 0.51 0.02 (0.32) (0.16) 1.85 1.75 1.14 2.92 n/m
Capex 0.28 (0.33) (0.17) (0.24) (0.24) (0.28) (0.86) (1.39) (0.36) (1.30) (1.24) n/m
Free cash flow (0.45) (0.57) 0.46 0.27 (0.22) (0.60) (1.02) 0.45 1.39 (0.16) 1.68 (11.1%)
Book value 7.93 6.75 6.62 6.96 6.07 6.71 7.24 8.24 9.07 11.26 11.45 +4.0%
Shares, m 7 8 8 8 8 8 8 8 8 8 8 +0.8%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 20.07 0.00 11.80 13.72 6.08 13.56 14.03 14.22 7.9
P/S 0.66 0.66 0.53 0.57 0.59 0.52 0.57 0.43 0.76 1.13 0.99 0.6
P/B 1.10 1.34 1.32 1.30 1.01 1.32 1.40 0.97 1.68 2.64 2.39 1.4
EV/Sales 0.65 0.66 0.49 0.51 0.61 0.53 0.59 0.43 0.74 1.18 0.99 0.6
EV/FCF (19.28) (15.93) 17.40 30.01 (28.80) (15.29) (10.44) 17.95 10.53 (199.01) 16.35 (21.3)
Cash, $m
Cash, $m Operating cash flow (5) (2) 5 4 0 (3) (1) 15 14 9 24 n/m
Capex 2 (3) (1) (2) (2) (2) (7) (11) (3) (10) (10) n/m
Free cash flow (3) (4) 4 2 (2) (5) (8) 4 11 (1) 14 (10.4%)
Balance, $m
Balance, $m Working capital 30 23 26 31 26 40 42 41 55 67 83 +9.4%
Net debt (1) 0 (5) (6) 2 2 4 1 (4) 2 1 n/m
Shareholders’ equity 59 52 52 56 49 54 58 66 72 91 93 +4.8%
Returns, %
Returns, % ROA (10.41) (9.68) (0.53) 3.34 (7.11) 5.36 4.83 7.51 5.60 8.90 7.39 +19.3 pt
ROIC (12.35) (11.44) 3.67 6.21 (13.90) 8.97 11.31 12.50 18.68 19.93 17.97 +32.3 pt
ROE (19.42) (17.94) (1.06) 6.66 (14.56) 11.68 10.59 16.96 13.03 20.93 17.94 +40.4 pt
People
People Employees 710 196 193 193 167 184 194 179 175 909 — +2.8%
Revenue/emp, $m 0.14 0.54 0.67 0.66 0.51 0.75 0.73 0.84 0.91 0.23 — +5.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jan 2026 · latest quarter Jul 2026

Perma-Pipe International Holdings, Inc. vs peers in Building Products & Equipment (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NPKI NPK International Inc. $723.4M 17.3× 17.2× +10.81% (above 0%: growing) 0.00% −135.14% (below 0%: shrinking) 31.34% 12.01% Compare
JBI Janus International Group, Inc. $650.8M 19.8× 17.5× +2.37% (above 0%: growing) −46.67% (below 0%: shrinking) −51.57% (below 0%: shrinking) 34.39% 8.82% Compare
LMB Limbach Holdings, Inc. $639.3M 20.9× 14.9× +24.85% (above 0%: growing) +4.59% (above 0%: growing) +50.45% (above 0%: growing) 23.36% 6.54% Compare
AEHL Antelope Enterprise Holdings L $331.6M — (loss-making) — +475.97% (above 0%: growing) n/m +10.99% (above 0%: growing) 15.26% 0.00% Compare
PPIH Perma-Pipe International Holdings, Inc. $223.0M 14.2× 19.3× +24.35% (above 0%: growing) +181.82% (above 0%: growing) +216.09% (above 0%: growing) 29.22% 7.14%
AIRJ AirJoule Technologies Corporation $157.9M — (loss-making) — — n/m +36.98% (above 0%: growing) — 0.00% Compare
JLHL Julong Holding Limited $142.0M — — — — — — — Compare
JELD JELD-WEN Holding, Inc. $87.6M — (loss-making) — (loss-making) −1.36% (below 0%: shrinking) n/m +262.03% (above 0%: growing) 17.23% 1.10% Compare
INVE Identiv, Inc. $60.8M — (loss-making) — (loss-making) +12.72% (above 0%: growing) n/m −32.64% (below 0%: shrinking) 16.12% (97.01%) Compare
Median of peers $244.8M 19.8× 17.2× +11.77% 0.00% +10.99% 20.30% 1.10%

All 34 Building Products & Equipment stocks →

Pay and ownership Proxy statement filed 13 May 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2024 1.72m 2.26m 150.00
2023 1.52m 1.36m 79.00

Ownership

Directors and executive officers, together 1.10%
Raymond James & Associates 6.80%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Perma-Pipe International Holdings, Inc. (PPIH) Latest News

3 Nov

Impact 3 · · Business Wire

26 Oct

Impact 3 · · Zacks

20 Oct

Impact 4 · · Business Wire

24 Sep

Impact 3 · · Zacks

12 Sep

Impact 4 ·

9 Sep

Impact 4 · transcript
Impact 3 · · The Motley Fool transcript
Impact 3 · · Moby transcript
Impact 3 · · MarketBeat
Impact 3 · · Moby transcript
Impact 3 ·

1 Sep

Impact 4 ·

27 Aug

Impact 4 ·

20 Aug

Impact 4 ·

29 Jun

Impact 3 ·

15 Jun

Impact 3 ·

9 Jun

Impact 3 · · Business Wire

22 Apr

Impact 3 · · Zacks
Impact 3 · · Zacks
Impact 3 · · Simply Wall St.

20 Apr

Impact 4 ·

16 Apr

Impact 4 · · Business Wire

19 Mar

Impact 4 · · Business Wire

31 Jan

Impact 3 · · Simply Wall St.

20 Jan

Impact 4 · · Zacks

18 Dec

Impact 4 · · ZacksStockStory

12 Dec

Impact 4 · · Business Wire

5 Dec

Impact 3 · · Business WireMT NewswiresGuruFocus.comInsider MonkeyGuruFocus.comStockStoryMotley FoolInsider Monkey

3 Dec

Impact 4 · · Business WireStockStoryStockStoryOffshore TechnologyGuruFocus.comSimply Wall St.Oilprice.comStockStory

13 Nov

Impact 3 · · Simply Wall St.
stockrow.com/PPIH · Data as of Jul 31, 2026 · For information only; not investment advice. · © 2026 stockrow.com