Saturday 17 October 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. 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.
27.91
1.36
−4.65%
Follow PPIH
| Jan '26 | Jan '25 | Jan '24 | Jan '23 | Jan '23 | Jan '22 | Jan '22 | Jan '21 | Jan '21 | Jan '20 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
5 | 7 | 6 | 4 | — | 7 | — | 3 | — | 7 |
P/E ratio |
14.03 | 13.56 | 6.08 | 13.72 | 13.07 | 11.80 | 123.29 | 0.00 | 0.00 | 20.07 |
P/S ratio |
1.13 | 0.76 | 0.43 | 0.57 | 0.51 | 0.52 | 0.58 | 0.59 | 0.52 | 0.57 |
Altman Z-Score |
3.12 | 2.71 | 2.10 | 2.63 | 2.87 | 2.33 | 2.53 | 1.20 | 0.83 | 2.37 |
Altman Z″-Score (non-manufacturers) |
4.24 | 4.21 | 3.33 | 3.82 | 4.42 | 3.34 | 3.77 | 1.60 | 0.84 | 3.14 |
P/FCF ratio |
0.00 | 10.91 | 17.66 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 43.63 | 32.97 |
P/Operating CF |
(35.18) | 20.07 | 9.00 | 20.98 | 12.23 | (28.24) | 13.50 | (27.66) | (77.37) | 55.84 |
Beneish M-Score |
(1.83) | (2.58) | (2.18) | (2.36) | (2.47) | (1.75) | (1.98) | (2.44) | (2.64) | (2.27) |
P/B ratio |
2.64 | 1.68 | 0.97 | 1.40 | 1.36 | 1.32 | 1.34 | 1.01 | 0.98 | 1.30 |
Price to Tangible BV |
2.71 | 1.72 | 1.01 | 1.46 | 1.41 | 1.38 | 1.40 | 1.06 | 1.03 | 1.35 |
EV/Sales |
1.18 | 0.74 | 0.43 | 0.59 | 0.52 | 0.53 | 0.57 | 0.61 | 0.53 | 0.51 |
EV/EBITDA |
7.26 | 4.87 | 3.79 | 5.73 | 5.03 | 5.94 | 10.47 | 0.00 | 0.00 | 7.05 |
EV/Operating CF |
27.22 | 8.38 | 4.42 | (68.32) | (9.96) | (28.68) | (37.32) | 313.50 | 15.45 | 16.05 |
EV/FCF |
(199.01) | 10.53 | 17.95 | (10.44) | (6.85) | (15.29) | (16.82) | (28.80) | 43.78 | 30.01 |
Quick Ratio |
1.47 | 1.47 | 1.22 | 1.38 | 1.45 | 1.48 | 1.54 | 1.20 | 1.33 | 1.34 |
Current Ratio |
1.84 | 2.01 | 1.71 | 1.96 | 1.96 | 2.04 | 2.04 | 1.91 | 1.91 | 1.96 |
Net Debt/EBITDA |
0.05 | (0.18) | 0.06 | 0.26 | 1.51 | 0.16 | 1.97 | (0.28) | (2.96) | (0.70) |
Debt/Assets |
11.04% | 7.82% | 5.33% | 8.63% | 23.89% | 9.57% | 27.99% | 9.94% | 26.89% | 7.28% |
Debt/Equity |
0.26 | 0.18 | 0.13 | 0.18 | 0.51 | 0.22 | 0.63 | 0.21 | 0.56 | 0.15 |
Asset Turnover |
1.10 | 0.99 | 1.08 | 1.16 | 0.00 | 1.23 | 0.00 | 0.79 | 0.00 | 1.19 |
Operating CF/Net income |
0.54 | 1.55 | 1.41 | (0.21) | (0.21) | (0.42) | (0.42) | (0.02) | (0.02) | 1.14 |
Capex/Depreciation |
(2.12) | (0.78) | (2.90) | (1.89) | 0.00 | (0.52) | 0.00 | (0.41) | 0.00 | (0.43) |
Interest Coverage |
16.16 | 10.46 | 5.90 | 5.26 | 178.44 | 9.80 | 178.44 | (29.86) | (85.51) | 5.39 |
| 20.93% | 13.03% | 16.96% | 10.59% | 0.00% | 11.68% | 0.00% | (14.56%) | 0.00% | 6.66% | |
| 8.90% | 5.60% | 7.51% | 4.83% | 0.00% | 5.36% | 0.00% | (7.11%) | 0.00% | 3.34% | |
ROIC |
19.93% | 18.68% | 12.50% | 11.31% | 0.00% | 8.97% | 0.00% | (13.90%) | 0.00% | 6.21% |
Return on Tangible Assets |
15.34% | 9.97% | 13.31% | 8.69% | 8.15% | 9.36% | 7.98% | (14.55%) | (11.60%) | 5.96% |
Average Days of Receivables |
164.11 | 143.07 | 153.21 | 137.34 | 145.34 | 124.09 | 130.18 | 109.78 | 125.98 | 84.06 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
18.98% | 20.80% | 18.65% | 19.05% | 18.61% | 17.62% | 17.39% | 26.63% | 26.37% | 18.93% |
Intangible Assets out of Total Assets |
0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
Share Based Compensation of Revenue |
1.20% | 0.54% | 0.61% | 0.70% | 0.00% | 0.79% | 0.00% | 1.23% | 0.00% | 0.79% |
Graham Net Nets |
0.08 | 0.13 | 0.14 | 0.25 | 0.25 | 0.13 | 0.08 | 0.01 | 0.08 | 0.11 |
Graham Number |
23.18 | 15.12 | 15.64 | 10.98 | 10.98 | 10.64 | 10.64 | 0.00 | 0.00 | 8.40 |
Earnings Yield |
7.13% | 7.37% | 16.44% | 7.29% | 7.65% | 8.47% | 0.81% | (15.31%) | (7.15%) | 4.98% |
Free Cash Flow Yield |
(0.52%) | 9.17% | 5.66% | (10.03%) | (14.95%) | (6.73%) | (5.81%) | (3.60%) | 2.29% | 3.03% |
Revenue per Share |
26.21 | 19.91 | 18.89 | 17.87 | 17.87 | 17.08 | 17.04 | 10.42 | 10.42 | 15.98 |
Operating CF per Share |
1.14 | 1.75 | 1.85 | (0.16) | (0.16) | (0.32) | (0.32) | 0.02 | 0.02 | 0.51 |
Capex per Share |
(1.30) | (0.36) | (1.39) | (0.86) | 0.00 | (0.28) | 0.00 | (0.24) | 0.00 | (0.24) |
Free Cash Flow per Share |
(0.16) | 1.39 | 0.45 | (1.02) | (0.16) | (0.60) | (0.32) | (0.22) | 0.02 | 0.27 |
Cash per Share |
2.77 | 2.15 | 0.91 | 0.85 | 0.85 | 1.20 | 1.20 | 1.03 | 1.03 | 1.83 |
Shareholders Equity per Share |
11.26 | 9.07 | 8.24 | 7.24 | 7.24 | 6.71 | 6.70 | 6.07 | 6.07 | 6.96 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
11.26 | 9.07 | 8.24 | 7.24 | 7.24 | 6.71 | 6.70 | 6.07 | 6.07 | 6.96 |
Free Cash Flow |
(1.25) | 11.08 | 3.63 | (8.12) | (1.24) | (4.83) | (2.57) | (1.80) | 0.17 | 2.19 |
Working Capital |
66.95 | 54.74 | 41.08 | 41.87 | 41.87 | 39.99 | 39.99 | 25.62 | 25.62 | 31.42 |
Capital Expenditures |
(10.42) | (2.85) | (11.10) | (6.88) | (6.97) | (2.25) | (2.26) | (1.96) | (1.96) | (1.90) |
Net Current Asset Value |
19.89 | 15.70 | 8.82 | 20.48 | 20.48 | 9.45 | 9.45 | 0.50 | 0.50 | 7.66 |
EV/EBIT |
8.47 | 5.75 | 4.87 | 7.61 | 6.74 | 9.10 | 31.65 | 0.00 | 0.00 | 13.45 |
Capex to Sales |
0.05 | 0.02 | 0.07 | 0.05 | 0.00 | 0.02 | 0.00 | 0.02 | 0.00 | 0.01 |
Price to Operating Income |
8.13 | 5.95 | 4.79 | 7.26 | 6.58 | 8.85 | 32.39 | 0.00 | 0.00 | 14.78 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.11 | 0.10 | 0.10 | 0.14 | 0.12 | 0.17 | 0.12 | 0.18 | 0.12 | 0.16 |
Cash ROIC |
(0.92%) | 10.84% | 4.47% | (10.80%) | (1.32%) | (6.35%) | (2.61%) | (2.65%) | 0.19% | 2.79% |
Accounts Receivable Turnover |
2.69 | 2.53 | 2.58 | 2.83 | 0.00 | 3.82 | 0.00 | 3.09 | 0.00 | 4.12 |
Accounts Payable Turnover |
5.86 | 4.29 | 5.45 | 7.35 | 0.00 | 8.84 | 0.00 | 7.37 | 0.00 | 9.14 |
Inventory Turnover |
8.14 | 6.54 | 7.21 | 7.32 | 0.00 | 8.18 | 0.00 | 5.52 | 0.00 | 7.36 |
Average Days of Payables |
63.33 | 82.25 | 84.63 | 51.65 | 51.65 | 46.88 | 46.88 | 51.46 | 51.46 | 35.45 |
Days of Inventory on Hand |
46.75 | 57.71 | 51.94 | 51.59 | 51.59 | 47.37 | 47.37 | 60.36 | 60.36 | 53.66 |
Average Receivables |
78.46 | 62.66 | 58.44 | 50.37 | 51.94 | 36.29 | 37.44 | 27.44 | 29.32 | 30.96 |
Average Payables |
24.12 | 24.51 | 20.04 | 14.19 | 14.19 | 11.99 | 11.99 | 9.97 | 9.97 | 10.79 |
Average Inventory |
17.37 | 16.08 | 15.14 | 14.25 | 14.25 | 12.96 | 12.96 | 13.33 | 13.33 | 13.39 |
Average Assets |
191.36 | 160.48 | 139.34 | 123.18 | 123.18 | 113.05 | 113.05 | 107.46 | 107.46 | 107.22 |
Average Common Equity |
81.39 | 68.93 | 61.75 | 56.12 | 56.12 | 51.89 | 51.89 | 52.47 | 52.47 | 53.67 |
Columns are period end dates