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. In the quarter to July 2026, revenue grew 24.4%, EPS grew 181.8%, free cash flow grew 216.1% and total debt rose 258.1%, each against the same quarter a year earlier. Revenue growth for five consecutive years.
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An Income Statement, also known as a Profit and Loss Statement, summarizes a company's revenues, expenses, and profits over a specific period. It highlights how revenue is transformed into net income, showcasing operational efficiency. Key components include total revenue, cost of goods sold (COGS), gross profit, operating expenses, and net profit. Businesses use the Income Statement to assess financial performance, make strategic decisions, and ensure profitability. Investors and stakeholders analyze it to gauge the company’s financial health and future growth potential.
| Jan '26 | Jan '25 | Jan '24 | Jan '23 | Jan '23 | Jan '22 | Jan '22 | Jan '21 | Jan '21 | Jan '20 | |
|---|---|---|---|---|---|---|---|---|---|---|
Revenue |
210.93 | 158.38 | 150.67 | 142.57 | — | 138.55 | — | 84.69 | — | 127.66 |
Revenue Growth |
33.17% | 5.12% | 5.68% | 2.90% | 2.90% | 63.59% | 63.59% | (33.66%) | (33.66%) | (1.01%) |
Cost of Revenue |
141.44 | 105.14 | 109.21 | 104.27 | — | 106.02 | — | 73.52 | — | 98.62 |
Gross Profit |
69.49 | 53.25 | 41.46 | 38.30 | — | 32.53 | — | 11.18 | — | 29.05 |
SG&A Expenses |
40.04 | 32.95 | 28.10 | 27.16 | — | 24.42 | — | 22.56 | — | 24.17 |
Operating Income |
29.45 | 20.30 | 13.36 | 11.14 | — | 8.11 | — | (11.38) | — | 4.88 |
Non-operating Income/Expense |
(1.96) | (1.83) | (3.47) | (1.59) | — | 0.22 | — | 3.60 | — | 0.15 |
Non-operating Interest Expenses |
1.82 | 1.94 | 2.27 | 2.12 | — | 0.83 | — | 0.38 | — | 0.91 |
| 27.49 | 18.47 | 9.89 | 9.56 | — | 8.33 | — | (7.77) | — | 5.04 | |
Income Tax Provision |
6.84 | 5.38 | (3.32) | 3.61 | — | 2.27 | — | (0.13) | — | 1.46 |
Income after Tax |
20.65 | 13.09 | 13.21 | 5.95 | — | 6.06 | — | (7.64) | — | 3.58 |
Dividends (Preferred) |
— | — | 0.00 | 0.00 | — | 0.00 | — | — | — | 0.00 |
Non-Controlling Interest |
3.61 | 4.11 | 2.74 | — | — | — | — | — | — | — |
Net Income Common |
17.04 | 8.98 | 10.47 | 5.95 | — | 6.06 | — | (7.64) | — | 3.58 |
EPS (Basic) |
2.12 | 1.13 | 1.31 | 0.75 | — | 0.75 | — | (0.94) | — | 0.45 |
EPS (Diluted) |
2.09 | 1.12 | 1.30 | 0.73 | — | 0.72 | — | (0.94) | — | 0.43 |
Shares (Basic, Weighted) |
8.05 | 7.96 | 7.98 | 7.98 | — | 8.11 | — | 8.13 | — | 7.99 |
Shares (Diluted, Weighted) |
8.15 | 8.02 | 8.07 | 8.12 | — | 8.40 | — | 8.13 | — | 8.42 |
Gross Margin |
32.94% | 33.62% | 27.52% | 26.86% | 26.86% | 23.48% | 23.48% | 13.20% | 13.20% | 22.75% |
EBIT Margin |
13.96% | 12.82% | 8.87% | 7.82% | 15.52% | 5.85% | 11.59% | (13.43%) | (27.06%) | 3.82% |
EBT margin |
13.03% | 11.66% | 6.56% | 6.70% | 6.70% | 6.01% | 6.01% | (9.18%) | (9.18%) | 3.94% |
Net Profit Margin |
8.08% | 5.67% | 6.95% | 4.17% | 4.17% | 4.38% | 4.38% | (9.02%) | (9.02%) | 2.80% |
Free Cash Flow Margin |
(0.59%) | 7.00% | 2.41% | (5.70%) | (0.87%) | (3.48%) | (1.86%) | (2.12%) | 0.19% | 1.71% |
EBITDA |
34.36 | 23.93 | 17.19 | 14.79 | — | 12.44 | — | (6.64) | — | 9.32 |
EBIT |
29.45 | 20.30 | 13.36 | 11.14 | — | 8.11 | — | (11.38) | — | 4.88 |
Income from Continuous Operations |
20.65 | 13.09 | 13.21 | 5.95 | — | 6.06 | — | (7.64) | — | 3.58 |
Consolidated Net Income/Loss |
20.65 | 13.09 | 13.21 | 5.95 | — | 6.06 | — | (7.64) | — | 3.58 |
EPS (Basic, from Continuous Ops) |
2.57 | 1.65 | 1.66 | 0.75 | — | 0.75 | — | (0.94) | — | 0.45 |
EPS (Basic, Consolidated) |
2.57 | 1.65 | 1.66 | 0.75 | — | 0.75 | — | (0.94) | — | 0.45 |
EPS (Diluted, from Cont. Ops) |
2.53 | 1.63 | 1.64 | 0.73 | — | 0.72 | — | (0.94) | — | 0.42 |
Shares (Diluted, Average) |
8.15 | 8.02 | 8.07 | 8.12 | — | 8.42 | — | 8.13 | — | 8.28 |
EPS (Diluted, Consolidated) |
2.53 | 1.63 | 1.64 | 0.73 | — | 0.72 | — | (0.94) | — | 0.42 |
EBITDA Margin |
16.29% | 15.11% | 11.41% | 10.37% | 10.52% | 8.97% | 9.09% | (7.84%) | (7.68%) | 7.30% |
Operating Cash Flow Margin |
4.35% | 8.79% | 9.78% | (0.87%) | (0.87%) | (1.86%) | (1.86%) | 0.19% | 0.19% | 3.20% |