What is Perma-Pipe International Holdings, Inc.'s earnings per share (EPS)?

Perma-Pipe International Holdings, Inc. (PPIH) reported diluted earnings per share of $2.09 for fiscal year 2026. This represents a 86.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Perma-Pipe International Holdings, Inc. (PPIH) Financials

PPIH

Trailing 12 months to July 31, 2026

Revenue $226.1M +24.8% YoY

Net Income $15.6M +55.0% YoY

EPS (Diluted) $1.90 +53.2% YoY

Free Cash Flow $13.6M +187.0% YoY

Market Cap $262.4M as of Oct 6, 2026

Price / Sales 1.2x on $226.1M revenue, trailing 12 months to July 31, 2026

Price / Earnings 16.8x on $15.6M net income, trailing 12 months to July 31, 2026

Price / Book 2.8x on $93.5M equity, Q2 FY2027

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2027, ended Jul 31, 2026 Reported Sep 9, 2026 Currency USD FYE January

Newest figures come from the 10-Q for Q2 FY2027, filed Sep 9, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PPIH SEC filings page.

Perma-Pipe International Holdings, Inc. (PPIH) reported $226.1M in revenue over the twelve months to Jul 31, 2026, up 24.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI PPIH FY2026 2026-10-04

Profitability has scaled faster than sales, but FY2026's heavy reinvestment turned positive operating cash into slightly negative free cash flow.

Operating margin widened from 7.8% in FY2023 to 14.0% in FY2026 as sales expanded materially, pointing to improving cost absorption. Yet FY2026 operating cash flow of $9.2M did not cover $10.4M of capital expenditures, so accounting profit did not translate into reinvestment-funded free cash flow.

The margin step-up was not accompanied by equivalent cash conversion: net income reached $17.0M, but operating cash flow was only $9.2M in FY2026. Receivables also climbed from $43.1M to $66.0M, making working-capital absorption a plausible part of the gap.

Liquidity remains adequate on the reported balance sheet, with a FY2026 current ratio of 1.8x, indicating current assets exceeded near-term obligations. Long-term debt rose from $3.7M in FY2025 to $12.7M in FY2026, so expansion was funded with more borrowing even as equity increased.

Financial Health Signals

Financial Health Score 69/100

Scored against operating companies for FY2026. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Perma-Pipe International Holdings, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Perma-Pipe International Holdings, Inc. has an operating margin of 14.0%, meaning the company retains $14 of operating profit per $100 of revenue. This strong profitability earns a score of 71/100, reflecting efficient cost management and pricing power. This is up from 12.8% the prior year.

Growth

Perma-Pipe International Holdings, Inc.'s revenue surged 33.2% year-over-year to $210.9M, reflecting rapid business expansion. This strong growth earns a score of 80/100.

Leverage

Perma-Pipe International Holdings, Inc. carries a low D/E ratio of 0.14, meaning only $0.14 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 92/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Perma-Pipe International Holdings, Inc.'s current ratio of 1.84 indicates adequate short-term liquidity, earning a score of 54/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While Perma-Pipe International Holdings, Inc. generated $9.2M in operating cash flow, capex of $10.4M consumed most of it, leaving -$1.3M in free cash flow. This results in a low score of 34/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Perma-Pipe International Holdings, Inc. earns a strong 18.8% return on equity (ROE), meaning it generates $19 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 83/100. This is up from 12.4% the prior year.

Altman Z-Score Safe

3.27

Perma-Pipe International Holdings, Inc. scores 3.27, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

4/9

Perma-Pipe International Holdings, Inc. passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Mixed

0.54x

For every $1 of reported earnings, Perma-Pipe International Holdings, Inc. generates $0.54 in operating cash flow ($9.2M OCF vs $17.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage Safe

13.89x

Perma-Pipe International Holdings, Inc. earns $13.89 in operating income for every $1 of interest expense ($29.4M vs $2.1M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$59.6M

YoY+24.4%

QoQ+18.5%

5Y CAGR+8.4%

10Y CAGR+10.1%

Perma-Pipe International Holdings, Inc. generated $59.6M in revenue in Q2 2027. This represents an increase of 24.4% from the same quarter a year earlier. Against the prior quarter it is up 18.5%.

EBITDA

$5.9M

YoY+42.6%

QoQ-5.0%

5Y CAGR+2.5%

Perma-Pipe International Holdings, Inc.'s EBITDA was $5.9M in Q2 2027, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 42.6% from the same quarter a year earlier. Against the prior quarter it is down 5.0%.

Net Income

$2.5M

YoY+199.3%

QoQ+41.4%

5Y CAGR-5.7%

10Y CAGR+38.4%

Perma-Pipe International Holdings, Inc. reported $2.5M in net income in Q2 2027. This represents an increase of 199.3% from the same quarter a year earlier. Against the prior quarter it is up 41.4%.

EPS (Diluted)

$0.31

YoY+210.0%

QoQ+40.9%

5Y CAGR-5.4%

Perma-Pipe International Holdings, Inc. earned $0.31 per diluted share (EPS) in Q2 2027. This represents an increase of 210.0% from the same quarter a year earlier. Against the prior quarter it is up 40.9%.

Cash & Balance Sheet

Free Cash Flow

$5.3M

YoY+214.9%

QoQ+8.7%

Perma-Pipe International Holdings, Inc. generated $5.3M in free cash flow in Q2 2027, representing cash available after capex. This represents an increase of 214.9% from the same quarter a year earlier. Against the prior quarter it is up 8.7%.

Cash & Debt

$31.8M

YoY+84.1%

QoQ+12.3%

5Y CAGR+42.0%

10Y CAGR+10.6%

Perma-Pipe International Holdings, Inc. held $31.8M in cash against $30.0M in long-term debt as of Q2 2027.

Shares Outstanding

YoY+1.2%

QoQ+0.9%

5Y CAGR+0.1%

10Y CAGR+0.8%

Perma-Pipe International Holdings, Inc. had 8M shares outstanding in Q2 2027. This represents an increase of 1.2% from the same quarter a year earlier. Against the prior quarter it is up 0.9%.

Dividends Per Share

Not reported for Q2 2027.

Margins & Returns

Gross Margin

29.2%

YoY-0.9pp

QoQ+0.1pp

5Y change+2.2pp

10Y change+16.2pp

Perma-Pipe International Holdings, Inc.'s gross margin was 29.2% in Q2 2027, indicating the percentage of revenue retained after direct costs. This is down 0.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.1 percentage points.

Operating Margin

7.1%

YoY+0.5pp

QoQ-2.1pp

5Y change-3.1pp

10Y change+16.7pp

Perma-Pipe International Holdings, Inc.'s operating margin was 7.1% in Q2 2027, reflecting core business profitability. This is up 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.1 percentage points.

Net Margin

4.3%

YoY+2.5pp

QoQ+0.7pp

5Y change-4.3pp

10Y change+3.9pp

Perma-Pipe International Holdings, Inc.'s net profit margin was 4.3% in Q2 2027, showing the share of revenue converted to profit. This is up 2.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.7 percentage points.

Return on Equity

2.7%

YoY+1.7pp

QoQ+0.8pp

5Y change-3.8pp

10Y change+2.6pp

Perma-Pipe International Holdings, Inc.'s ROE was 2.7% in Q2 2027, measuring profit generated per dollar of shareholder equity. This is up 1.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.8 percentage points.

Capital Allocation

Capital Expenditures

$2.0M

YoY-23.2%

QoQ+56.3%

5Y CAGR+32.1%

10Y CAGR+25.8%

Perma-Pipe International Holdings, Inc. invested $2.0M in capex in Q2 2027, funding long-term assets and infrastructure. This represents a decrease of 23.2% from the same quarter a year earlier. Against the prior quarter it is up 56.3%.

R&D Spending

Not reported for Q2 2027.

Share Buybacks

Not reported for Q2 2027.

PPIH Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PPIH quarterly income statement

Metric	TTM	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Revenue	$226.1M	$210.9M+33.2%	$158.4M+5.1%	$150.7M+5.7%	$142.6M+2.9%	$138.6M+63.6%	$84.7M-33.7%	$127.7M-1.0%	$129.0M+22.5%	$105.2M+6.5%	$98.8M-19.4%	$122.7M-3.3%	$126.9M-44.0%	$226.8M+34.4%	$168.8M-27.7%	$233.5M
Cost of Revenue	$155.7M	$141.4M+34.5%	$105.1M-3.7%	$109.2M+4.7%	$104.3M-1.7%	$106.0M+44.2%	$73.5M-25.5%	$98.6M-6.7%	$105.6M+13.0%	$93.5M+7.3%	$87.1M-9.2%	$96.0M-0.2%	$96.1M-44.9%	$174.6M+23.6%	$141.3M-28.3%	$197.2M
Gross Profit	$70.4M	$69.5M+30.5%	$53.2M+28.4%	$41.5M+8.2%	$38.3M+17.7%	$32.5M+191.0%	$11.2M-61.5%	$29.0M+24.6%	$23.3M+98.6%	$11.7M+0.2%	$11.7M-56.2%	$26.7M-13.1%	$30.8M-41.1%	$52.2M+89.9%	$27.5M-24.3%	$36.3M
R&D Expenses	N/A	N/A	$100K-80.0%	$500K-16.7%	$600K+50.0%	$400K+33.3%	$300K0.0%	$300K+50.0%	$200K-33.3%	$300K+50.0%	$200K-81.8%	$1.1M-8.3%	$1.2M+71.4%	$700K-68.2%	$2.2M	N/A
SG&A Expenses	$38.2M	$35.3M+26.0%	$28.0M+23.9%	$22.6M+2.7%	$22.0M+10.6%	$19.9M+15.5%	$17.2M-9.0%	$18.9M+23.3%	$15.4M-5.3%	$16.2M-7.8%	$17.6M-6.8%	$18.9M-1.7%	$19.2M-31.7%	$28.1M+9.9%	$25.6M-2.6%	$26.3M
Operating Income	$27.3M	$29.4M+45.1%	$20.3M+52.0%	$13.4M+19.9%	$11.1M+37.4%	$8.1M+171.3%	-$11.4M-333.1%	$4.9M+79.3%	$2.7M+128.6%	-$9.5M+17.9%	-$11.6M-502.5%	$2.9M-50.8%	$5.8M-55.3%	$13.1M+248.3%	-$8.8M-74.2%	-$5.1M
EBITDA	N/A	$34.4M+43.6%	$23.9M+39.2%	$17.2M+16.2%	$14.8M+18.9%	$12.4M+287.3%	-$6.6M-171.2%	$9.3M+27.7%	$7.3M+262.8%	-$4.5M+26.1%	-$6.1M-168.8%	$8.8M-25.0%	$11.7M-37.8%	$18.9M+726.0%	-$3.0M-680.7%	$519K
Interest Expense	N/A	$2.1M-4.7%	$2.2M-8.4%	$2.4M+8.3%	$2.2M+144.3%	$918K+41.4%	$649K-41.3%	$1.1M-14.0%	$1.3M+59.2%	$808K+8.3%	$746K-21.5%	$950K-9.1%	$1.0M-43.7%	$1.9M-7.7%	$2.0M-7.2%	$2.2M
Income Tax	$5.7M	$6.8M+27.3%	$5.4M+262.0%	-$3.3M-191.9%	$3.6M+59.5%	$2.3M+1803.0%	-$133K-109.1%	$1.5M-32.1%	$2.1M+1022.7%	-$233K+61.9%	-$611K-144.4%	$1.4M-54.9%	$3.1M+718.9%	-$493K-104.2%	$11.8M+69458.8%	$17K
Net Income	$15.6M	$17.0M+89.6%	$9.0M-14.2%	$10.5M+76.1%	$5.9M-1.9%	$6.1M+179.3%	-$7.6M-313.7%	$3.6M+750.2%	-$550K+94.5%	-$10.0M+20.0%	-$12.5M-182.9%	-$4.4M-2335.9%	-$181K-100.9%	$21.0M+213.8%	-$18.5M-272.8%	-$5.0M
EPS (Basic)	N/A	$2.12+87.6%	$1.13-13.7%	$1.31+74.7%	$0.750.0%	$0.75+179.8%	-$0.94-308.9%	$0.45+742.9%	-$0.07	N/A	N/A	N/A	-$0.04-101.3%	$2.99+212.0%	-$2.67-265.8%	-$0.73
EPS (Diluted)	$1.90	$2.09+86.6%	$1.12-13.8%	$1.30+78.1%	$0.73+1.4%	$0.72+176.6%	-$0.94-323.8%	$0.42+700.0%	-$0.07	N/A	N/A	N/A	-$0.04	$2.96+210.9%	-$2.67	N/A
Diluted Shares (Avg)	N/A	8M+1.7%	8M-0.7%	8M-0.5%	8M-3.3%	8M+3.3%	8M-3.5%	8M+7.8%	8M+1.7%	8M+2.6%	7M+1.6%	7M+0.6%	7M	7M+2.5%	7M+100539.7%	6,878

Metric	Q2'2710-Q	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q
Revenue	$59.6M+24.4%	$50.3M+7.5%	$55.1M+22.5%	$61.1M+47.1%	$47.9M+27.7%	$46.7M+36.2%	$45.0M+12.0%	$41.6M-9.0%
Cost of Revenue	$42.2M+25.9%	$35.6M+18.7%	$37.8M+26.8%	$40.1M+46.1%	$33.5M+39.3%	$30.0M+26.1%	$29.8M+5.9%	$27.5M-15.5%
Gross Profit	$17.4M+20.7%	$14.6M-12.5%	$17.3M+14.3%	$21.0M+49.1%	$14.4M+7.0%	$16.7M+59.0%	$15.2M+26.0%	$14.1M+6.8%
SG&A Expenses	$11.9M+18.3%	$8.8M+14.0%	$9.2M+7.3%	$8.3M+13.9%	$10.0M+67.8%	$7.7M+26.0%	$8.5M+38.4%	$7.3M+29.2%
Operating Income	$4.3M+33.4%	$4.6M-41.2%	$7.0M+28.1%	$11.4M+104.1%	$3.2M-48.1%	$7.9M+151.7%	$5.4M+19.4%	$5.6M-7.5%
EBITDA	$5.9M+42.6%	$6.2M-29.5%	$9.0M+41.1%	$12.4M+88.9%	$4.1M-41.1%	$8.8M+122.7%	$6.4M+13.7%	$6.6M-6.6%
Interest Expense	N/A	-$605K-49.0%	$3.4M-7.4%	-$497K-6.2%	-$415K+19.3%	-$406K+19.9%	$3.7M-12.0%	-$468K+26.9%
Income Tax	$604K-59.4%	$1.3M-15.8%	$787K-53.3%	$3.0M+84.9%	$1.5M+14.0%	$1.6M+105.5%	$1.7M+125.6%	$1.6M+5.3%
Net Income	$2.5M+199.3%	$1.8M-63.6%	$4.9M+179.4%	$6.3M+153.5%	$851K-74.1%	$5.0M+243.2%	$1.8M-79.6%	$2.5M+28.7%
EPS (Basic)	$0.31+181.8%	$0.22-64.5%	$0.61+177.3%	$0.78+151.6%	$0.11-73.2%	$0.62+244.4%	$0.22-79.6%	$0.31+29.2%
EPS (Diluted)	$0.31+210.0%	$0.22-63.9%	$0.60+172.7%	$0.77+148.4%	$0.10-75.0%	$0.61+238.9%	$0.22-79.4%	$0.31+29.2%
Diluted Shares (Avg)	8M+1.6%	8M+2.0%	N/A	8M+1.9%	8M+0.1%	8M+0.3%	N/A	8M+0.1%

Not reported in any period shown, so not listed: R&D Expenses.

PPIH Balance Sheet

PPIH quarterly balance sheet

Metric	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Total Assets	$217.5M+31.6%	$165.2M+6.1%	$155.7M+26.6%	$123.0M-0.4%	$123.4M+20.2%	$102.7M-8.5%	$112.2M+9.8%	$102.2M-2.3%	$104.6M+2.9%	$101.6M-26.4%	$138.1M-6.7%	$148.1M-9.3%	$163.3M+9.2%	$149.5M-5.0%	$157.3M
Current Assets	$146.7M+34.9%	$108.8M+10.1%	$98.8M+15.4%	$85.7M+9.3%	$78.4M+45.5%	$53.9M-16.2%	$64.3M+2.1%	$63.0M+1.0%	$62.3M+7.8%	$57.8M-39.7%	$95.9M-12.6%	$109.7M+8.5%	$101.1M+19.9%	$84.3M+2.0%	$82.7M
Cash & Equivalents	$18.7M+19.1%	$15.7M+168.9%	$5.8M+1.2%	$5.8M-29.7%	$8.2M+14.5%	$7.2M-46.3%	$13.4M+31.7%	$10.2M+43.4%	$7.1M-6.8%	$7.6M-54.3%	$16.6M+68.0%	$9.9M-26.1%	$13.4M+90.4%	$7.0M+67.1%	$4.2M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$18.1M+9.0%	$16.6M+7.0%	$15.5M+5.4%	$14.7M+7.1%	$13.8M+13.2%	$12.2M-16.1%	$14.5M+18.0%	$12.3M-27.1%	$16.9M+24.3%	$13.6M-13.2%	$15.6M+14.2%	$13.7M-59.2%	$33.5M-10.6%	$37.5M-6.7%	$40.2M
Accounts Receivable	$66.0M+53.0%	$43.1M-7.5%	$46.6M+11.0%	$42.0M-5.5%	$44.4M+76.2%	$25.2M-14.2%	$29.4M-9.6%	$32.5M-1.3%	$32.9M+5.3%	$31.3M-13.4%	$36.1M-13.8%	$41.8M-8.3%	$45.7M+96.1%	$23.3M-17.2%	$28.1M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$2.2M+6.4%	$2.1M-7.4%	$2.2M-0.2%	$2.2M-4.9%	$2.3M+0.4%	$2.3M+3.5%	$2.3M-0.7%	$2.3M-6.4%	$2.4M+6.3%	$2.3M	$0	N/A	N/A	N/A	N/A
Total Liabilities	$126.8M+36.2%	$93.1M+3.4%	$90.0M+38.1%	$65.2M-5.5%	$68.9M+29.2%	$53.4M-5.7%	$56.6M+12.1%	$50.5M-5.4%	$53.4M+26.6%	$42.2M-38.9%	$69.1M-8.2%	$75.3M-13.9%	$87.4M-8.2%	$95.2M+12.1%	$84.9M
Current Liabilities	$79.8M+47.6%	$54.1M-6.4%	$57.7M+31.9%	$43.8M+14.0%	$38.4M+35.9%	$28.3M-14.0%	$32.8M-11.5%	$37.1M-5.3%	$39.2M+39.9%	$28.0M-56.3%	$64.1M-2.0%	$65.4M+22.3%	$53.5M+8.7%	$49.2M+24.6%	$39.5M
Non-Current Liabilities	$31.4M+11.8%	$28.1M+8.0%	$26.0M+21.5%	$21.4M-30.0%	$30.5M+21.6%	$25.1M+5.8%	$23.8M+77.1%	$13.4M-1.3%	$13.6M-4.3%	$14.2M+184.8%	$5.0M-49.4%	$9.8M-70.3%	$33.1M-28.0%	$46.0M+1.3%	$45.4M
Long-Term Debt	$12.7M+246.0%	$3.7M-13.2%	$4.2M-3.6%	$4.4M-13.2%	$5.1M-19.3%	$6.3M-6.7%	$6.7M-0.5%	$6.8M-12.6%	$7.7M+6.5%	$7.3M+393.7%	$1.5M-37.6%	$2.4M-90.0%	$23.5M-34.0%	$35.6M+2.6%	$34.7M
Total Equity	$90.6M+25.6%	$72.1M+9.8%	$65.7M+13.7%	$57.8M+6.1%	$54.5M+10.4%	$49.3M-11.4%	$55.6M+7.6%	$51.7M+1.0%	$51.2M-13.9%	$59.4M-13.9%	$69.0M-5.2%	$72.8M-4.0%	$75.8M+39.8%	$54.3M-25.0%	$72.4M
Retained Earnings	$37.1M+84.7%	$20.1M+66.3%	$12.1M+647.6%	$1.6M+170.5%	-$2.3M+72.5%	-$8.4M-1068.8%	-$715K+83.3%	-$4.3M-14.7%	-$3.7M	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2710-Q	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q
Total Assets	$232.6M+23.1%	$221.6M+24.3%	$217.5M+31.6%	$217.0M+35.0%	$189.0M+19.8%	$178.3M+14.5%	$165.2M+6.1%	$160.7M+11.5%
Current Assets	$153.6M+22.5%	$146.4M+21.3%	$146.7M+34.9%	$151.6M+45.2%	$125.3M+24.8%	$120.7M+21.9%	$108.8M+10.1%	$104.4M+10.3%
Cash & Equivalents	$31.8M+84.1%	$28.3M+50.2%	$18.7M+19.1%	$27.2M+104.7%	$17.3M+82.5%	$18.8M+145.5%	$15.7M+168.9%	$13.3M+121.0%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$19.1M+20.1%	$19.1M+31.2%	$18.1M+9.0%	$19.1M+19.9%	$15.9M+0.4%	$14.5M-5.7%	$16.6M+7.0%	$16.0M-0.6%
Accounts Receivable	$48.8M+3.3%	$51.2M+9.0%	$66.0M+53.0%	$56.6M+41.9%	$47.2M+19.3%	$47.0M+6.2%	$43.1M-7.5%	$39.9M-15.3%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$2.1M+3.4%	$2.2M+1.3%	$2.2M+6.4%	$2.1M-0.6%	$2.1M-4.6%	$2.2M-0.7%	$2.1M-7.4%	$2.1M-0.5%
Total Liabilities	$139.1M+27.9%	$129.4M+28.8%	$126.8M+36.2%	$131.2M+46.6%	$108.8M+22.0%	$100.4M+11.4%	$93.1M+3.4%	$89.5M+2.6%
Current Liabilities	$70.1M+5.0%	$63.4M+2.6%	$79.8M+47.6%	$86.3M+60.4%	$66.8M+21.4%	$61.8M+6.5%	$54.1M-6.4%	$53.8M-6.5%
Non-Current Liabilities	$51.5M+73.1%	$49.5M+87.1%	$31.4M+11.8%	$30.7M+14.6%	$29.7M+14.1%	$26.5M+5.1%	$28.1M+8.0%	$26.8M+4.9%
Long-Term Debt	$30.0M+707.7%	$19.2M+407.2%	$12.7M+246.0%	$12.7M+43.0%	$3.7M-58.4%	$3.8M-7.1%	$3.7M-13.2%	$8.9M+113.0%
Total Equity	$93.5M+16.6%	$92.2M+18.5%	$90.6M+25.6%	$85.8M+20.4%	$80.2M+16.9%	$77.9M+18.8%	$72.1M+9.8%	$71.2M+25.0%
Retained Earnings	$41.5M+60.1%	$38.9M+55.4%	$37.1M+84.7%	$32.2M+75.7%	$25.9M+54.0%	$25.1M+85.2%	$20.1M+66.3%	$18.3M+431.6%

PPIH Cash Flow Statement

PPIH quarterly cash flow statement

Metric	TTM	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Operating Cash Flow	$23.8M	$9.2M-34.2%	$13.9M-5.5%	$14.7M+1287.0%	-$1.2M+51.8%	-$2.6M-1660.0%	$165K-96.0%	$4.1M-17.8%	$5.0M+370.2%	-$1.8M+66.2%	-$5.5M-88.4%	-$2.9M-182.8%	$3.5M-45.3%	$6.4M+19.7%	$5.3M+2914.2%	-$190K
Depreciation & Amortization	N/A	$4.9M+35.3%	$3.6M-5.2%	$3.8M+5.0%	$3.6M-15.7%	$4.3M-8.8%	$4.7M+6.8%	$4.4M-3.0%	$4.6M-9.1%	$5.0M-8.9%	$5.5M-6.9%	$5.9M+0.5%	$5.9M+1.9%	$5.8M-0.4%	$5.8M+4.0%	$5.6M
Stock-Based Compensation	N/A	$2.5M+195.0%	$860K-5.8%	$913K-8.9%	$1.0M-9.0%	$1.1M+5.5%	$1.0M+3.3%	$1.0M-13.2%	$1.2M-19.5%	$1.4M+0.1%	$1.4M+420.1%	$278K+124.2%	$124K-36.7%	$196K-59.5%	$484K-22.1%	$621K
Capital Expenditures	$10.2M	$10.4M+263.1%	$2.9M-74.1%	$11.1M+59.2%	$7.0M+208.4%	$2.3M+15.2%	$2.0M+3.2%	$1.9M+39.8%	$1.4M-46.2%	$2.5M+12.2%	$2.3M-65.0%	$6.5M+9.9%	$5.9M+112.9%	$2.8M-48.5%	$5.4M-46.9%	$10.1M
Free Cash Flow	$13.6M	-$1.3M-111.5%	$11.1M+204.9%	$3.6M+144.1%	-$8.2M-69.9%	-$4.8M-169.0%	-$1.8M-182.2%	$2.2M-39.5%	$3.6M+182.7%	-$4.4M+43.3%	-$7.7M+17.5%	-$9.4M-293.0%	-$2.4M-165.4%	$3.6M+28092.3%	-$13K+99.9%	-$10.3M
Investing Cash Flow	-$10.1M	-$10.4M-266.0%	-$2.8M+74.3%	-$11.1M-73.9%	-$6.4M-183.3%	-$2.3M-14.9%	-$2.0M-3.1%	-$1.9M-39.8%	-$1.4M+43.0%	-$2.4M-123.4%	$10.2M-26.3%	$13.9M+341.3%	-$5.7M-146.2%	$12.4M+298.7%	-$6.3M+37.9%	-$10.1M
Financing Cash Flow	$2.8M	$6.6M+826.1%	-$907K+72.1%	-$3.3M-171.7%	$4.5M-27.1%	$6.2M+250.4%	-$4.1M-1276.7%	-$301K-126.5%	$1.1M-67.2%	$3.5M+123.1%	-$14.9M-394.0%	-$3.0M-454.0%	-$546K+95.3%	-$11.7M-409.1%	$3.8M+303.5%	-$1.9M
Share Buybacks	N/A	N/A	$0-100.0%	$942K+1265.2%	$69K-96.5%	$2.0M	$0	N/A	N/A	N/A	N/A	-$290K	N/A	N/A	N/A	N/A

Metric	Q2'2710-Q	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q
Operating Cash Flow	$7.2M+454.6%	$6.1M+733.6%	-$6.8M-213.0%	$17.3M+234.8%	-$2.0M-172.5%	$733K+1104.1%	$6.0M-15.4%	$5.2M+26.4%
Depreciation & Amortization	$1.7M+72.9%	$1.6M+68.8%	$2.0M+115.7%	$984K+1.4%	$957K+7.8%	$937K+13.0%	$942K-10.8%	$970K-1.3%
Stock-Based Compensation	$232K-84.2%	$180K-19.6%	N/A	N/A	$1.5M	$224K-1.8%	N/A	N/A
Capital Expenditures	$2.0M-23.2%	$1.3M+35.3%	$2.0M+54.1%	$4.9M+1430.4%	$2.6M+296.1%	$927K+57.4%	$1.3M-54.5%	$322K-77.1%
Free Cash Flow	$5.3M+214.9%	$4.9M+2603.1%	-$8.8M-287.9%	$12.4M+155.2%	-$4.6M-311.3%	-$194K+70.7%	$4.7M+11.6%	$4.8M+80.8%
Investing Cash Flow	-$1.9M+25.3%	-$1.3M-35.3%	-$2.0M-56.0%	-$4.9M-1430.4%	-$2.6M-296.1%	-$927K-57.4%	-$1.3M+55.4%	-$322K+77.1%
Financing Cash Flow	-$2.3M-173.9%	$4.8M+49.6%	$2.5M+210.1%	-$2.2M-142.2%	$3.1M+1061.1%	$3.2M+25.0%	-$2.2M+49.5%	-$896K+64.7%
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$0-100.0%

Not reported in any period shown, so not listed: Dividends Paid.

PPIH Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PPIH quarterly financial ratios

Metric	FY2610-K	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Gross Margin	32.9%-0.7pp	33.6%+6.1pp	27.5%+0.7pp	26.9%+3.4pp	23.5%+10.3pp	13.2%-9.6pp	22.8%+4.7pp	18.1%+6.9pp	11.2%-0.7pp	11.8%-9.9pp	21.8%-2.5pp	24.3%+1.2pp	23.0%+6.7pp	16.3%+0.7pp	15.6%
Operating Margin	14.0%+1.1pp	12.8%+4.0pp	8.9%+1.0pp	7.8%+2.0pp	5.9%+19.3pp	-13.4%-17.3pp	3.8%+1.7pp	2.1%+11.1pp	-9.0%+2.7pp	-11.7%-14.1pp	2.4%-2.3pp	4.6%-1.2pp	5.8%+11.0pp	-5.2%-3.1pp	-2.2%
Net Margin	8.1%+2.4pp	5.7%-1.3pp	7.0%+2.8pp	4.2%-0.2pp	4.4%+13.4pp	-9.0%-11.8pp	2.8%+3.2pp	-0.4%+9.0pp	-9.5%+3.1pp	-12.6%-9.0pp	-3.6%-3.5pp	-0.1%-9.4pp	9.3%+20.2pp	-10.9%-8.8pp	-2.1%
Return on Equity	18.8%+6.3pp	12.4%-3.5pp	15.9%+5.6pp	10.3%-0.8pp	11.1%+26.6pp	-15.5%-21.9pp	6.4%+7.5pp	-1.1%+18.4pp	-19.5%+1.5pp	-21.0%-14.6pp	-6.4%-6.1pp	-0.3%-28.0pp	27.7%+61.8pp	-34.1%-27.2pp	-6.9%
Return on Assets	7.8%+2.4pp	5.4%-1.3pp	6.7%+1.9pp	4.8%-0.1pp	4.9%+12.3pp	-7.4%-10.6pp	3.2%+3.7pp	-0.5%+9.0pp	-9.5%+2.7pp	-12.3%-9.1pp	-3.2%-3.1pp	-0.1%-13.0pp	12.9%+25.3pp	-12.4%-9.2pp	-3.1%
Current Ratio	1.84-0.2x	2.01+0.3x	1.71-0.2x	1.96-0.1x	2.04+0.1x	1.910.0x	1.96+0.3x	1.70+0.1x	1.59-0.5x	2.07+0.6x	1.50-0.2x	1.68-0.2x	1.89+0.2x	1.71-0.4x	2.09
Debt-to-Equity	0.14+0.1x	0.050.0x	0.060.0x	0.080.0x	0.090.0x	0.130.0x	0.120.0x	0.130.0x	0.150.0x	0.12+0.1x	0.020.0x	0.03-0.3x	0.31-0.3x	0.66+0.2x	0.48
Asset Turnover	0.970.0x	0.960.0x	0.97-0.2x	1.160.0x	1.12+0.3x	0.82-0.3x	1.14-0.1x	1.26+0.3x	1.010.0x	0.97+0.1x	0.890.0x	0.86-0.5x	1.39+0.3x	1.13-0.4x	1.48
FCF Margin	-0.6%-7.6pp	7.0%+4.6pp	2.4%+8.2pp	-5.8%-2.3pp	-3.5%-1.4pp	-2.1%-3.8pp	1.7%-1.1pp	2.8%+7.0pp	-4.2%+3.6pp	-7.8%-0.2pp	-7.6%-5.7pp	-1.9%-3.5pp	1.6%+1.6pp	0.0%+4.4pp	-4.4%

Metric	Q2'2710-Q	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q
Gross Margin	29.2%-0.9pp	29.1%-6.7pp	31.4%-2.3pp	34.4%+0.5pp	30.1%-5.8pp	35.8%+5.1pp	33.7%+3.8pp	33.9%+5.0pp
Operating Margin	7.1%+0.5pp	9.2%-7.7pp	12.6%+0.6pp	18.6%+5.2pp	6.7%-9.7pp	16.9%+7.8pp	12.1%+0.8pp	13.4%+0.2pp
Net Margin	4.3%+2.5pp	3.6%-7.0pp	8.9%+5.0pp	10.3%+4.3pp	1.8%-7.0pp	10.6%+6.4pp	3.9%-17.6pp	6.0%+1.8pp
Return on Equity	2.7%+1.7pp	1.9%-4.4pp	5.4%+3.0pp	7.4%+3.9pp	1.1%-3.7pp	6.4%+4.2pp	2.4%-10.7pp	3.5%+0.1pp
Return on Assets	1.1%+0.6pp	0.8%-2.0pp	2.3%+1.2pp	2.9%+1.4pp	0.4%-1.6pp	2.8%+1.8pp	1.1%-4.5pp	1.6%+0.2pp
Current Ratio	2.19+0.3x	2.31+0.4x	1.84-0.2x	1.76-0.2x	1.88+0.1x	1.95+0.2x	2.01+0.3x	1.94+0.3x
Debt-to-Equity	0.32+0.3x	0.21+0.2x	0.14+0.1x	0.150.0x	0.05-0.1x	0.050.0x	0.050.0x	0.12+0.1x
Asset Turnover	0.260.0x	0.230.0x	0.250.0x	0.280.0x	0.250.0x	0.260.0x	0.270.0x	0.26-0.1x
FCF Margin	8.9%+18.4pp	9.7%+10.1pp	-16.0%-26.5pp	20.2%+8.6pp	-9.6%-15.4pp	-0.4%+1.5pp	10.4%0.0pp	11.6%+5.8pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Perma-Pipe International Holdings, Inc. PPIH	FY2026	$210.9M	$17.0M	8.1%	$262.4M	69/100
AirJoule Technologies Corporation AIRJ	FY2025	N/A	-$9.0M	N/A	$287.5M	—
INVE Technologies, Inc. INVE	FY2025	$21.5M	-$18.0M	-83.8%	$57.0M	37/100
Alpha Pro Tech, Ltd. APT	FY2025	$59.1M	$3.5M	5.9%	$51.9M	60/100
Aspen Aerogels, Inc. ASPN	FY2025	$271.1M	-$389.6M	N/A	$472.2M	41/100
Quanex Building Products Corporation NX	FY2025	$1.8B	-$250.8M	-13.7%	$870.7M	50/100

Where Perma-Pipe International Holdings, Inc. Ranks

Frequently Asked Questions

What is Perma-Pipe International Holdings, Inc.'s annual revenue?

Perma-Pipe International Holdings, Inc. (PPIH) reported $210.9M in total revenue for fiscal year 2026. This represents a 33.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Perma-Pipe International Holdings, Inc.'s revenue growing?

Perma-Pipe International Holdings, Inc. (PPIH) revenue grew by 33.2% year-over-year, from $158.4M to $210.9M in fiscal year 2026.

Is Perma-Pipe International Holdings, Inc. profitable?

Yes, Perma-Pipe International Holdings, Inc. (PPIH) reported a net income of $17.0M in fiscal year 2026, with a net profit margin of 8.1%.

What is Perma-Pipe International Holdings, Inc.'s EBITDA?

Perma-Pipe International Holdings, Inc. (PPIH) had EBITDA of $34.4M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Perma-Pipe International Holdings, Inc. have?

As of fiscal year 2026, Perma-Pipe International Holdings, Inc. (PPIH) had $18.7M in cash and equivalents against $12.7M in long-term debt.

What is Perma-Pipe International Holdings, Inc.'s gross margin?

Perma-Pipe International Holdings, Inc. (PPIH) had a gross margin of 32.9% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

What is Perma-Pipe International Holdings, Inc.'s operating margin?

Perma-Pipe International Holdings, Inc. (PPIH) had an operating margin of 14.0% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

What is Perma-Pipe International Holdings, Inc.'s net profit margin?

Perma-Pipe International Holdings, Inc. (PPIH) had a net profit margin of 8.1% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

What is Perma-Pipe International Holdings, Inc.'s return on equity (ROE)?

Perma-Pipe International Holdings, Inc. (PPIH) has a return on equity of 18.8% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is Perma-Pipe International Holdings, Inc.'s free cash flow?

Perma-Pipe International Holdings, Inc. (PPIH) recorded an outflow of $1.3M in free cash flow during fiscal year 2026. This represents a -111.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Perma-Pipe International Holdings, Inc.'s operating cash flow?

Perma-Pipe International Holdings, Inc. (PPIH) generated $9.2M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are Perma-Pipe International Holdings, Inc.'s total assets?

Perma-Pipe International Holdings, Inc. (PPIH) had $217.5M in total assets as of fiscal year 2026, including both current and long-term assets.

What are Perma-Pipe International Holdings, Inc.'s capital expenditures?

Perma-Pipe International Holdings, Inc. (PPIH) invested $10.4M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

How many shares does Perma-Pipe International Holdings, Inc. have outstanding?

Perma-Pipe International Holdings, Inc. (PPIH) had 8M shares outstanding as of fiscal year 2026.

What is Perma-Pipe International Holdings, Inc.'s current ratio?

Perma-Pipe International Holdings, Inc. (PPIH) had a current ratio of 1.84 as of fiscal year 2026, which is generally considered healthy.

What is Perma-Pipe International Holdings, Inc.'s debt-to-equity ratio?

Perma-Pipe International Holdings, Inc. (PPIH) had a debt-to-equity ratio of 0.14 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Perma-Pipe International Holdings, Inc.'s return on assets (ROA)?

Perma-Pipe International Holdings, Inc. (PPIH) had a return on assets of 7.8% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is Perma-Pipe International Holdings, Inc.'s P/E ratio?

Perma-Pipe International Holdings, Inc. (PPIH) trades at 16.8x earnings, its market capitalization divided by net income of $15.6M net income, trailing 12 months to July 31, 2026. The market capitalization is $262.4M as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Perma-Pipe International Holdings, Inc.'s price-to-sales ratio?

Perma-Pipe International Holdings, Inc. (PPIH) trades at 1.2x sales, its market capitalization divided by revenue of $226.1M revenue, trailing 12 months to July 31, 2026. The market capitalization is $262.4M as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Perma-Pipe International Holdings, Inc.'s Altman Z-Score?

Perma-Pipe International Holdings, Inc. (PPIH) has an Altman Z-Score of 3.27, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Perma-Pipe International Holdings, Inc.'s Piotroski F-Score?

Perma-Pipe International Holdings, Inc. (PPIH) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Perma-Pipe International Holdings, Inc.'s earnings high quality?

Perma-Pipe International Holdings, Inc. (PPIH) has an earnings quality ratio of 0.54x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Perma-Pipe International Holdings, Inc. cover its interest payments?

Perma-Pipe International Holdings, Inc. (PPIH) has an interest coverage ratio of 13.89x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Perma-Pipe International Holdings, Inc.?

Perma-Pipe International Holdings, Inc. (PPIH) scores 69 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.