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%

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Market cap: $239.9M
P/E: 14.5×
Fwd P/E: 15.0×
Dividend yield: —
F-score: 5/9
Altman Z: 3.12
Beneish M: −1.83
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 5.47%

Capital & Financial Ratios $m

Market Cap 239.87

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 14.54

Fwd P/E 15.00

P/S ratio 1.01

P/B ratio 2.44

Past 5Y EPS Growth —

This Y EPS Growth (27.27%)

Next Y EPS Growth 63.82%

Next Y revenue growth 11.41%

Next 5Y EPS Growth 6.15%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 51.34%

10-year low 10-year high

P/S against its own 10 years 90.01%

10-year low 10-year high

P/B against its own 10 years 91.67%

10-year low 10-year high

EV/Sales against its own 10 years 91.01%

10-year low 10-year high

EV/FCF against its own 10 years 49.27%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2018	Powerpack

predictions special payouts not included in total or ratios

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%

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.

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.

Group	Line	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027e
Price, $
Price, $	Low	7.10	8.30	7.87	4.51	5.77	7.50	6.17	6.83	8.81	23.04	Analyst estimates 2027–2029 Powerpack
	High	9.35	10.43	10.14	9.36	9.00	15.70	11.49	17.58	36.48	36.72
People
People	Employees	710	196	193	193	167	184	194	179	175	909
	Revenue/emp, $m	0.14	0.54	0.67	0.66	0.51	0.75	0.73	0.84	0.91	0.23
Income, $m
Income, $m	Revenue	99	105	129	128	85	139	143	151	158	211
	Gross margin, %	11.85	11.16	18.08	22.75	13.20	23.48	26.86	27.52	33.62	32.94
	EBT	(14)	(10)	2	5	(8)	8	10	10	18	27
	EBT margin, %	(13.93)	(9.70)	1.24	3.94	(9.18)	6.01	6.70	6.56	11.66	13.03
	Net income	(12)	(10)	(1)	4	(8)	6	6	13	13	21
	Depreciation	6	5	5	4	5	4	4	4	4	5
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
	Earnings	(1.56)	(1.30)	(0.07)	0.45	(0.94)	0.75	0.75	1.31	1.13	2.12
	Cash flow	(0.73)	(0.24)	0.64	0.51	0.02	(0.32)	(0.16)	1.85	1.75	1.14
	Capex	0.28	(0.33)	(0.17)	(0.24)	(0.24)	(0.28)	(0.86)	(1.39)	(0.36)	(1.30)
	Free cash flow	(0.45)	(0.57)	0.46	0.27	(0.22)	(0.60)	(1.02)	0.45	1.39	(0.16)
	Book value	7.93	6.75	6.62	6.96	6.07	6.71	7.24	8.24	9.07	11.26
	Shares, m	7	8	8	8	8	8	8	8	8	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
	P/S	0.66	0.66	0.53	0.57	0.59	0.52	0.57	0.43	0.76	1.13
	P/B	1.10	1.34	1.32	1.30	1.01	1.32	1.40	0.97	1.68	2.64
	EV/Sales	0.65	0.66	0.49	0.51	0.61	0.53	0.59	0.43	0.74	1.18
	EV/FCF	(19.28)	(15.93)	17.40	30.01	(28.80)	(15.29)	(10.44)	17.95	10.53	(199.01)
Cash, $m
Cash, $m	Operating cash flow	(5)	(2)	5	4	0	(3)	(1)	15	14	9
	Capex	2	(3)	(1)	(2)	(2)	(2)	(7)	(11)	(3)	(10)
	Free cash flow	(3)	(4)	4	2	(2)	(5)	(8)	4	11	(1)
Balance, $m
Balance, $m	Working capital	30	23	26	31	26	40	42	41	55	67
	Total debt	8	8	7	8	10	12	11	8	13	24
	Net debt	(1)	0	(5)	(6)	2	2	4	1	(4)	2
	Shareholders’ equity	59	52	52	56	49	54	58	66	72	91
Returns, %
Returns, %	ROA	(10.41)	(9.68)	(0.53)	3.34	(7.11)	5.36	4.83	7.51	5.60	8.90
	ROIC	(12.35)	(11.44)	3.67	6.21	(13.90)	8.97	11.31	12.50	18.68	19.93
	ROE	(19.42)	(17.94)	(1.06)	6.66	(14.56)	11.68	10.59	16.96	13.03	20.93

Negative figures in brackets.

All 10 years →

Fiscal years to Jan 2026 · latest quarter Jul 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
JBI Janus International Group, Inc.	$575.8M	17.3×	16.7×	+2.37% (above 0%: growing)	−46.67% (below 0%: shrinking)	−51.57% (below 0%: shrinking)	34.39%	8.82%	Compare
LMB Limbach Holdings, Inc.	$570.0M	18.8×	20.2×	+21.95% (above 0%: growing)	−40.30% (below 0%: shrinking)	+931.20% (above 0%: growing)	21.50%	4.18%	Compare
ASPN Aspen Aerogels, Inc.	$448.1M	— (loss-making)	— (loss-making)	−36.11% (below 0%: shrinking)	n/m	−7.06% (below 0%: shrinking)	6.55%	(57.74%)	Compare
AIRJ AirJoule Technologies Corporation	$240.7M	— (loss-making)	—	—	n/m	+36.98% (above 0%: growing)	—	0.00%	Compare
PPIH Perma-Pipe International Holdings, Inc.	$239.9M	14.5×	15.0×	+24.35% (above 0%: growing)	+181.82% (above 0%: growing)	+216.09% (above 0%: growing)	29.22%	7.14%
AEHL Antelope Enterprise Holdings L	$217.2M	— (loss-making)	—	+475.97% (above 0%: growing)	n/m	+10.99% (above 0%: growing)	15.26%	0.00%	Compare
JELD JELD-WEN Holding, Inc.	$118.0M	— (loss-making)	— (loss-making)	−0.72% (below 0%: shrinking)	n/m	−1,089.93% (below 0%: shrinking)	16.79%	(0.62%)	Compare
JLHL Julong Holding Limited	$102.3M	—	—	—	—	—	—	—	Compare
CSTE Caesarstone Ltd.	$93.4M	— (loss-making)	— (loss-making)	−4.52% (below 0%: shrinking)	n/m	+111.99% (above 0%: growing)	24.01%	(10.60%)	Compare
Median of peers	$228.9M	—	—	+0.83%	—	+10.99%	19.15%	0.00%

All 35 Building Products & Equipment stocks →

Perma-Pipe International Holdings, Inc. (PPIH) key facts

Strength: Perma-Pipe International Holdings, Inc.’s revenue for fiscal 2026 (year ended January 2026) was $210.9 million, up 33.2% from fiscal 2025.
Strength: Net income was $20.6 million, or $2.12 per share (basic), a net margin of 8.08%.
Perma-Pipe International Holdings, Inc. (PPIH) is a Building Products & Equipment company in the Industrials sector, listed on Nasdaq.
As of October 16, 2026, PPIH traded at $27.91, a market capitalization of $239.9 million.
At that price the stock trades at 14.5× trailing-twelve-month earnings and 1.0× sales; its P/E is higher than 51% of its own readings over the past ten years.
Return on equity was 20.9% and debt-to-equity 0.39.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 3.12 (safe zone) for fiscal 2026.