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Perma-Pipe International Holdings, Inc. PPIH

Industrials — Building Products & Equipment

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Insider Decisions

in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership
5.47%

Capital & Financial Ratios

Market Cap
247.58
Revenue
226.11
Net Income
19.39
Free Cash Flow
13.72
Net Debt
1.31
Current Ratio
2.19
Debt/Equity
0.39
P/E ratio
15.91
P/S ratio
1.10
P/B ratio
2.67
Past 5Y EPS Growth
21.02%
This Y EPS Growth
(27.27%)
Next Y EPS Growth
63.82%
Next 5Y EPS Growth
6.15%
in millions of $

Dividends

Payout Ratio
0.00
Annual Dividend Rate
—
Annual Dividend Yield
—
total individual payouts
2028 ‡‡‡‡
2027 ‡‡‡‡
2026 ‡‡‡‡
2021 ‡‡‡
2020 ‡‡‡
2019 ‡‡‡
2018 ‡‡‡
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2024 2025 2026 Q'26
Cash 7.24 17.12 22.30 34.75
Receivables 63.24 62.08 94.84 86.65
Inventory 15.54 16.62 18.12 19.07
Other 3.10 2.93 4.65 7.05
98.82 108.80 146.73 153.55
2024 2025 2026 Q'26
Payables 25.32 23.69 24.54 35.66
ST’ Debt 4.07 9.25 19.84 6.09
Other 4.76 3.76 14.01 8.75
57.74 54.06 79.79 70.13
in millions of $

Compound Annual Growth

10y 5y 3y
Sales ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Cash Flow ‡‡‡‡‡ ‡‡‡ ‡‡‡
Earnings ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Book Value ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡

Revenue

Apr Jul Oct Jan Year
’26 50.27 59.57 — —
—
’26 46.75 47.90 61.15 55.13
210.93
’25 34.32 37.51 41.56 44.99
158.38
’24 29.66 35.14 45.69 40.18
150.67
’23 — — — 36.44
142.57
’23 31.22 37.00 37.90 —
142.57
’22 — — — 39.13
138.55
in millions of $

Operating Cash Flow

Apr Jul Oct Jan Year
’26 6.11 7.24 — —
—
’26 0.73 (2.04) 17.28 (6.80)
9.17
’25 (0.07) 2.82 5.16 6.02
13.93
’24 3.81 (0.28) 4.08 7.11
14.73
’23 — — — 3.86
(1.24)
’23 (7.11) (4.06) 6.07 —
(1.24)
’22 — — — (2.54)
(2.57)
in millions of $

Free Cash Flow

Apr Jul Oct Jan Year
’26 4.86 5.33 — —
—
’26 (0.19) (4.59) 12.35 (8.82)
(1.25)
’25 (0.66) 2.17 4.84 4.73
11.08
’24 0.58 (3.85) 2.68 4.22
3.63
’23 — — — 0.10
(8.12)
’23 (7.44) (5.69) 4.91 —
(1.24)
’22 — — — (2.89)
(4.83)
in millions of $

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 — — — 0.39
0.73
’23 (0.11) 0.23 0.21 —
0.73
’22 — — — 0.36
0.72

Target Price Range

High
‡‡‡‡‡
‡‡‡‡
Average
‡‡‡‡‡
‡‡‡‡
Low
‡‡‡‡‡
‡‡‡‡

Recommendation Rating

1
1
Buy
2
3
Hold
4
5
Sell
2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
‡‡‡ ‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ 7.50 6.17 6.83 8.81 23.04 — — —
Low Price
‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ ‡‡‡ 15.70 11.49 17.58 36.48 36.72 — — —
High Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 184 194 179 175 909 — — —
Employees
‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡ 0.00 0.00 0.84 0.91 0.23 — — —
Revenue/Emp
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 138.55 142.57 150.67 158.38 210.93 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 23.48% 26.86% 27.52% 33.62% 32.94% — — —
Gross Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 8.33 9.56 9.89 18.47 27.49 — — —
EBT
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 6.01% 6.70% 6.56% 11.66% 13.03% ‡‡‡ ‡‡‡ ‡‡‡
EBT Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 6.06 5.95 13.21 13.09 20.65 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Net Income
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 4.32 3.65 3.83 3.63 4.91 — — —
Depreciation
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 17.04 17.87 18.89 19.91 26.21 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue/Sh
‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ 0.72 0.73 1.31 1.13 2.12 ‡‡‡‡ ‡‡‡‡ ‡‡‡
Earnings/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (0.32) (0.16) 1.85 1.75 1.14 — — —
Cash Flow/Sh
‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡ 0.00 0.00 (1.39) (0.36) (1.30) ‡‡‡ ‡‡‡ ‡‡‡
Capex/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (0.32) (0.16) 0.45 1.39 (0.16) — — —
Free CF/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 6.70 7.24 8.24 9.07 11.26 — — —
Book Value/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 8.13 7.98 7.98 7.96 8.05 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Shares
‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡‡‡ ‡‡‡ 123.29 13.07 6.08 13.56 14.03 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
PE Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.58 0.51 0.43 0.76 1.13 ‡‡‡ ‡‡‡ ‡‡‡
PS Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.34 1.36 0.97 1.68 2.64 ‡‡‡ ‡‡‡ ‡‡‡
PB Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.57 0.52 0.43 0.74 1.18 ‡‡‡‡ ‡‡‡‡ ‡‡‡
EV/Sales
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (16.82) (6.85) 17.95 10.53 (199.01) — — —
EV/FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (2.57) (1.24) 14.73 13.93 9.17 ‡‡‡ ‡‡‡ ‡‡‡
Op' Cash Flow
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (2.26) (6.97) (11.10) (2.85) (10.42) — — —
Capex
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (2.57) (1.24) 3.63 11.08 (1.25) — — —
FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 39.99 41.87 41.08 54.74 66.95 — — —
Working Cap'
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 34.54 29.38 8.30 12.92 24.01 — — —
Total Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 24.77 22.59 1.06 (4.20) 1.72 — — —
Net Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 54.46 57.78 65.71 72.14 90.64 — — —
Sh' Equity
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 5.36% 4.83% 7.51% 5.60% 8.90% — — —
ROA
‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡ 0.00% 0.00% 12.50% 18.68% 19.93% — — —
ROIC
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 11.68% 10.59% 16.96% 13.03% 20.93% — — —
ROE
predictions in italic, sparklines do not include predictions

Analyst Commentary (Summary)

Perma-Pipe International Holdings (PPIH) has clawed its way through a brutal decade of oil slumps, COVID carnage, and ruthless cost-cutting, slashing headcount by 67% to under 200 while boosting revenue per employee to a stellar $900K. Revenue crept up 3% annually to $151M in 2024 before analysts dream of a 40% explosion to $211M in 2025, fueled by fatter 33%+ gross margins from high-end leak detection gigs and U.S. energy booms. The stock lurks 12% below unanimous targets, with a dirt-cheap 6x trailing PE and net-cash balance sheet after 76% debt shredding—but is this lean machine primed for liftoff or just a cyclical trap waiting to snag on steel spikes and project delays?

Profitability swings wildly from deep losses to $1.31 EPS and 17% ROE, with cash flow finally positive at $1.85/share, yet historical free cash black holes and ballooning working capital scream vulnerability in lumpy energy contracts. ROIC could hit 20%+, but scalability post-headcount purge raises red flags: can they triple revenue without rehiring or margins crumbling? Consensus whispers modest upside, but as a contrarian, I see underappreciated risks in geopolitical oil whiplash and execution fumbles that have fueled 50%+ drawdowns before.

This turnaround tempts with EV/FCF at 11x and PS under 1x amid infra tailwinds, yet low insider action and razor-thin historical margins (1.8% average) demand proof before piling in. Watch quarterly backlogs like a hawk—PPIH could reward patient hunters or humble the hype. Dive into the full analysis for the unvarnished risks and rewards.

Read full commentary →

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

News by impact score

Fine-tune

12 Sep

4 , 7:36 AM
Perma-Pipe (PPIH) advances its Middle East strategy with concrete new developments that strengthen regional operations and growth outlook. Middle East expansion moves represent major strategic progress likely to lift revenue trajectory and investor sentiment.

9 Sep

4 transcript , 5:01 PM
Perma-Pipe International Holdings Inc (PPIH) achieved record sales during its Q2 2026 earnings call. Record sales point to major positive effects on financial results and market standing.

3 transcript www.fool.com, 10:59 PM
Perma-Pipe International Holdings (PPIH) held its Q2 2027 earnings call, covering financial results, operations, and outlook. Quarterly earnings results typically influence near-term stock sentiment and operations visibility without guaranteeing major strategic shifts.

3 transcript app.moby.co, 8:31 PM
Perma-Pipe International Holdings, Inc. held its Q2 2027 earnings call covering financial results and operational updates. Quarterly earnings results and guidance can moderately shift near-term investor views and valuation.

3 www.marketbeat.com, 12:05 PM
Perma-Pipe International Holdings reported Q2 financial results and operational updates during its earnings call, including revenue figures, segment performance, and management commentary on future outlook. Quarterly earnings details and guidance typically affect near-term sentiment and valuation without major strategic shifts.

3 transcript app.moby.co, 8:30 AM
Perma-Pipe International Holdings, Inc. held its Q2 2026 earnings call, covering financial performance and strategic updates. Q2 earnings call provides financial results and guidance with moderate effects on near-term market views.

3 , 7:30 AM
Perma-Pipe International Holdings, Inc. released its second quarter fiscal 2026 financial results. Quarterly financial results typically influence near-term stock movement and sentiment without fundamentally reshaping long-term strategy.

1 Sep

4 , 8:00 AM
Perma-Pipe and Welspun sign MOU to establish pipe manufacturing and coating facilities in Jordan. MOU launches new international manufacturing facilities expanding PPIH operations and market reach.

27 Aug

4 , 7:47 AM
Perma-Pipe International Holdings closes global credit facility of up to $139 million. Access to $139 million in credit supplies major liquidity that supports operations and strategic growth.

20 Aug

4 , 1:02 PM
Perma-Pipe International Holdings secured more than $67 million in new orders during the second quarter of 2026. Major order wins expand backlog and directly support revenue growth for the company.

29 Jun

3 , 7:00 AM
Perma-Pipe International Holdings, Inc. joins the Russell 2000 and Russell 3000 indexes. Russell index inclusion raises passive fund demand and trading visibility but leaves core operations and strategy unchanged.

15 Jun

3 , 12:30 PM
PPIH stock falls 19% after Q1 earnings decline year-over-year on elevated operating costs. Quarterly earnings miss from high costs drives immediate stock drop and signals ongoing margin pressure.

9 Jun

3 Business Wire, 8:49 AM
Perma-Pipe International Holdings, Inc. reported its financial results for the first quarter of 2026. Quarterly financial results provide key data points affecting near-term valuation and sentiment.

22 Apr

3 Zacks, 12:44 PM
Perma-Pipe International Holdings, Inc. (PPIH) reported Q4 earnings growth year-over-year, driven by higher sales volumes. Q4 earnings rose year-over-year due to volume growth, indicating moderate positive financial influence without transformative changes.

3 Zacks, 12:44 PM
Perma-Pipe International Holdings, Inc. (PPIH) reported Q4 earnings growth year-over-year, driven by higher sales volumes. Q4 earnings rise on volume growth signals improved financial results with moderate influence on future performance.

3 Simply Wall St., 8:38 AM
Perma-Pipe International Holdings (NASDAQ:PPIH) offers investors a strong opportunity due to its robust earnings per share (EPS) growth prospects. PPIH's highlighted EPS growth potential may moderately boost investor sentiment and financial outlook.

20 Apr

4 , 11:32 AM
Perma-Pipe International Holdings, Inc. announces $54 million in Q1 2026 awards, demonstrating continued growth across key end markets. $54 million in Q1 2026 awards significantly bolsters PPIH's revenue backlog and signals strong demand in core markets.

16 Apr

4 Business Wire, 9:00 AM
Perma-Pipe International Holdings, Inc. announced record fourth quarter and fiscal 2025 results, with net sales increasing 33% and net income growing 89%. Record results with 33% sales growth and 89% net income increase indicate significant positive momentum for future performance and investor sentiment.

19 Mar

4 Business Wire, 9:00 AM
Perma-Pipe International Holdings, Inc. invests in new U.S. Northeast facility to serve AI data center customers, accelerating growth; provides update on Middle East operations; board concludes review of strategic alternatives. Investment in AI data center-targeted facility represents major strategic expansion into high-growth market, enhancing future revenue potential.

31 Jan

3 Simply Wall St., 7:29 AM
Perma-Pipe International Holdings, Inc. (PPIH) is being evaluated for its strong financial prospects, which may suggest that the market's current perception could be misaligned with the company's potential. Analysts are considering various factors, including revenue growth and profitability, that could indicate a more favorable outlook for PPIH. The discussion revolves around whether the company's fundamentals justify a reassessment of its market valuation. Strong financial prospects may moderately influence investor sentiment and market performance.

20 Jan

4 Zacks, 1:00 PM
Perma-Pipe International Holdings, Inc. (PPIH) has experienced a remarkable 43% surge in its stock price over the past six months, driven by strong financial performance and strategic initiatives. The company specializes in providing piping solutions for various industries, including oil and gas, and has seen increased demand for its products. Analysts are evaluating whether this upward trend will continue, considering market conditions and the company's growth potential. Investors are encouraged to assess the stock's valuation and future prospects before making decisions. The significant stock price increase indicates strong market sentiment and potential for continued growth driven by strategic initiatives.

18 Dec

4 ZacksStockStory, 12:45 PM
Perma-Pipe International Holdings, Inc. (PPIH) reported a significant year-over-year increase in Q3 earnings, driven by strong demand in the Middle East and the U.S. The company's performance reflects a robust market environment and strategic positioning in key regions, contributing to improved financial results. Strong demand in key markets is likely to significantly impact future performance and investor sentiment.

12 Dec

4 Business Wire, 9:00 AM
Perma-Pipe International Holdings, Inc. reported its financial results for the third quarter of 2025, highlighting significant revenue growth and improved profitability compared to the previous year. The company attributed this success to increased demand for its products and services, particularly in the energy and industrial sectors. Management expressed optimism about future performance, citing ongoing projects and a strong pipeline of opportunities. The results reflect the company's strategic initiatives and operational efficiencies aimed at enhancing market position. The financial results indicate significant revenue growth and improved profitability, suggesting a strong market position and future opportunities.

5 Dec

3 Business WireMT NewswiresGuruFocus.comInsider MonkeyGuruFocus.comStockStoryMotley FoolInsider Monkey, 9:00 AM
Perma-Pipe International Holdings, Inc. has appointed Richard Sherrill to its Board of Directors, enhancing its leadership team. Sherrill brings extensive experience in the manufacturing and construction sectors, which is expected to benefit the company's strategic direction and operational efficiency. The appointment of a new board member with relevant industry experience may moderately influence the company's strategic direction and operational performance.

3 Dec

4 Business WireStockStoryStockStoryOffshore TechnologyGuruFocus.comSimply Wall St.Oilprice.comStockStory, 8:45 AM
Perma-Pipe International Holdings, Inc. has secured $52 million in awards during the third quarter, significantly enhancing its global presence through projects with U.S. data centers and Saudi Aramco. This expansion reflects the company's strategic growth initiatives and commitment to increasing its market footprint. Securing substantial contracts and expanding into new markets are likely to significantly impact future performance and investor sentiment.

13 Nov

3 Simply Wall St., 2:45 PM
Perma-Pipe International Holdings, Inc. (PPIH) is analyzed for its intrinsic value, considering various financial metrics and market conditions. The assessment includes a review of the company's performance, growth potential, and competitive positioning within the industry. Key factors influencing PPIH's valuation are discussed, providing insights into its future prospects and investment appeal. The analysis highlights key financial metrics and market conditions that may moderately influence PPIH's performance.

30 Oct

3 Zacks, 2:54 PM
Perma-Pipe International Holdings, Inc. (PPIH) is highlighted as a small-cap company benefiting from geographic expansion and increased demand for its products. The company specializes in providing piping solutions for various industries, including energy and construction. Recent developments indicate a positive outlook for PPIH, driven by strategic initiatives and market trends that favor its growth. Investors are encouraged to consider PPIH as a potential opportunity in the small-cap sector, particularly due to its focus on innovative solutions and expanding market presence. PPIH is expected to experience moderate influence from market trends and strategic initiatives that may enhance its competitive positioning.

28 Oct

4 Simply Wall St., 10:17 AM
Perma-Pipe International Holdings, Inc. (PPIH) is experiencing a positive momentum in returns, driven by strategic initiatives and market demand for its products. The company is focusing on expanding its service offerings and enhancing operational efficiencies, which are expected to contribute to improved financial performance. Analysts are optimistic about PPIH's growth potential, citing favorable market conditions and the company's strong positioning in the industry. Strategic initiatives and market demand are likely to significantly impact PPIH's future performance and investor sentiment.

6 Oct

4 Simply Wall St., 1:55 PM
Perma-Pipe International Holdings, Inc. (PPIH) has delivered an impressive 280% return to its investors over the past five years, reflecting strong performance and growth in the company's operations. This significant increase highlights the effectiveness of PPIH's strategies and market positioning, contributing positively to investor sentiment. The substantial return indicates a significant impact on investor sentiment and suggests strong future performance potential.

25 Sep

4 Business Wire, 9:00 AM
Perma-Pipe International Holdings, Inc. has engaged Energy Capital Solutions to explore strategic alternatives aimed at enhancing shareholder value. This decision reflects the company's proactive approach to evaluating its options in a competitive market environment. Engaging a financial advisor to evaluate strategic alternatives indicates a significant potential shift in company strategy that could impact future performance.
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