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Stocks · Industrials · Industrial & Commercial Fans & Blowers & Air Purifing Equip

Perma-Pipe International Holdings, Inc.

PPIH Clue Score70
United States Fiscal year ends January CIK 0000914122
$31.32 +0.48% Close, 9 Oct 2026
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Price $31.32 +270.65% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 17 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue98.8Operating income−11.6Net income−12.5Fiscal year 2018Revenue105.2 +6.5%Operating income−9.5Net income−10.0Fiscal year 2019Revenue129.0 +22.5%Operating income2.7Net income−0.6EPS, diluted−0.07Fiscal year 2020Revenue127.7 −1.0%Operating income4.9Net income3.6EPS, diluted0.42Fiscal year 2021Revenue84.7 −33.7%Operating income−11.4Net income−7.6 −313.7%EPS, diluted−0.94 −323.8%Fiscal year 2022Revenue138.6 +63.6%Operating income8.1Net income6.1EPS, diluted0.72Fiscal year 2023Revenue142.6 +2.9%Operating income11.1Net income5.9 −1.9%EPS, diluted0.73 +1.4%Fiscal year 2024Revenue150.7 +5.7%Operating income13.4Net income10.5 +76.1%EPS, diluted1.30 +78.1%Fiscal year 2025Revenue158.4 +5.1%Operating income20.3Net income9.0 −14.2%EPS, diluted1.12 −13.8%Fiscal year 2026Revenue210.9 +33.2%Operating income29.4Net income17.0 +89.6%EPS, diluted2.09 +86.6%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue 98.8 105.2 129.0 127.7 84.7 138.6 142.6 150.7 158.4 210.9
Growth +6.5% +22.5% −1.0% −33.7% +63.6% +2.9% +5.7% +5.1% +33.2%
Operating income −11.6 −9.5 2.7 4.9 −11.4 8.1 11.1 13.4 20.3 29.4
Net income −12.5 −10.0 −0.6 3.6 −7.6 6.1 5.9 10.5 9.0 17.0
Growth −313.7% −1.9% +76.1% −14.2% +89.6%
EPS, diluted n/a n/a −0.07 0.42 −0.94 0.72 0.73 1.30 1.12 2.09
Growth −323.8% +1.4% +78.1% −13.8% +86.6%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin11.9%Operating margin−11.7%Net margin−12.6%Free cash flow margin−7.8%Fiscal year 2018Gross margin11.2%Operating margin−9.0%Net margin−9.5%Free cash flow margin−4.2%Fiscal year 2019Gross margin18.1%Operating margin2.1%Net margin−0.4%Free cash flow margin2.8%Fiscal year 2020Gross margin22.8%Operating margin3.8%Net margin2.8%Free cash flow margin1.7%Fiscal year 2021Gross margin13.2%Operating margin−13.4%Net margin−9.0%Free cash flow margin−2.1%Fiscal year 2022Gross margin23.5%Operating margin5.9%Net margin4.4%Free cash flow margin−3.5%Fiscal year 2023Gross margin26.9%Operating margin7.8%Net margin4.2%Free cash flow margin−5.8%Fiscal year 2024Gross margin27.5%Operating margin8.9%Net margin6.9%Free cash flow margin2.4%Fiscal year 2025Gross margin33.6%Operating margin12.8%Net margin5.7%Free cash flow margin7.0%Fiscal year 2026Gross margin32.9%Operating margin14.0%Net margin8.1%Free cash flow margin−0.6%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Gross margin 11.9% 11.2% 18.1% 22.8% 13.2% 23.5% 26.9% 27.5% 33.6% 32.9%
Operating margin −11.7% −9.0% 2.1% 3.8% −13.4% 5.9% 7.8% 8.9% 12.8% 14.0%
Net margin −12.6% −9.5% −0.4% 2.8% −9.0% 4.4% 4.2% 6.9% 5.7% 8.1%
Free cash flow margin −7.8% −4.2% 2.8% 1.7% −2.1% −3.5% −5.8% 2.4% 7.0% −0.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow−5.5Capital expenditure−2.3Free cash flow−7.7Fiscal year 2018Operating cash flow−1.8Capital expenditure−2.5Free cash flow−4.4Fiscal year 2019Operating cash flow5.0Capital expenditure−1.4Free cash flow3.6Fiscal year 2020Operating cash flow4.1Capital expenditure−1.9Free cash flow2.2 −39.5%Fiscal year 2021Operating cash flow0.2Capital expenditure−2.0Free cash flow−1.8 −182.2%Buybacks0.0Fiscal year 2022Operating cash flow−2.6Capital expenditure−2.3Free cash flow−4.8Buybacks−2.0Fiscal year 2023Operating cash flow−1.2Capital expenditure−7.0Free cash flow−8.2Buybacks−0.1Fiscal year 2024Operating cash flow14.7Capital expenditure−11.1Free cash flow3.6Buybacks−0.9Fiscal year 2025Operating cash flow13.9Capital expenditure−2.9Free cash flow11.1 +204.9%Buybacks0.0Fiscal year 2026Operating cash flow9.2Capital expenditure−10.4Free cash flow−1.3 −111.5%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow −5.5 −1.8 5.0 4.1 0.2 −2.6 −1.2 14.7 13.9 9.2
Capital expenditure −2.3 −2.5 −1.4 −1.9 −2.0 −2.3 −7.0 −11.1 −2.9 −10.4
Free cash flow −7.7 −4.4 3.6 2.2 −1.8 −4.8 −8.2 3.6 11.1 −1.3
Growth −39.5% −182.2% +204.9% −111.5%
Buybacks n/a n/a n/a n/a 0.0 −2.0 −0.1 −0.9 0.0 n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash7.6Total debt11.8Net cash (debt)−4.2Shareholders’ equity59.4Debt to equity0.20Fiscal year 2018Cash7.1Total debt15.8Net cash (debt)−8.7Shareholders’ equity51.2Debt to equity0.31Fiscal year 2019Cash10.2Total debt16.3Net cash (debt)−6.1Shareholders’ equity51.7Debt to equity0.32Fiscal year 2020Cash13.4Total debt16.8Net cash (debt)−3.4Shareholders’ equity55.6Debt to equity0.30Fiscal year 2021Cash7.2Total debt13.0Net cash (debt)−5.9Shareholders’ equity49.3Debt to equity0.26Fiscal year 2022Cash8.2Total debt12.4Net cash (debt)−4.2Shareholders’ equity54.5Debt to equity0.23Fiscal year 2023Cash5.8Total debt15.0Net cash (debt)−9.2Shareholders’ equity57.8Debt to equity0.26Fiscal year 2024Cash5.8Total debt13.8Net cash (debt)−8.0Shareholders’ equity65.7Debt to equity0.21Fiscal year 2025Cash15.7Total debt12.9Net cash (debt)2.8Shareholders’ equity72.1Debt to equity0.18Fiscal year 2026Cash18.7Total debt4.2Net cash (debt)14.6Shareholders’ equity90.6Debt to equity0.05
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash 7.6 7.1 10.2 13.4 7.2 8.2 5.8 5.8 15.7 18.7
Total debt 11.8 15.8 16.3 16.8 13.0 12.4 15.0 13.8 12.9 4.2
Net cash (debt) −4.2 −8.7 −6.1 −3.4 −5.9 −4.2 −9.2 −8.0 2.8 14.6
Shareholders’ equity 59.4 51.2 51.7 55.6 49.3 54.5 57.8 65.7 72.1 90.6
Debt to equity 0.20 0.31 0.32 0.30 0.26 0.23 0.26 0.21 0.18 0.05

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending January, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 31 Jan 2017 FY2018 31 Jan 2018 FY2019 31 Jan 2019 FY2020 31 Jan 2020 FY2021 31 Jan 2021 FY2022 31 Jan 2022 FY2023 31 Jan 2023 FY2024 31 Jan 2024 FY2025 31 Jan 2025 FY2026 31 Jan 2026
Revenue and profit
98.8 105.2 129.0 127.7 84.7 138.6 142.6 150.7 158.4 210.9
Growth +6.5% +22.5% −1.0% −33.7% +63.6% +2.9% +5.7% +5.1% +33.2%
n/a 93.5 105.6 98.6 73.5 106.0 104.3 109.2 105.1 141.4
11.7 11.7 23.3 29.0 11.2 32.5 38.3 41.5 53.2 69.5
Growth +0.2% +98.6% +24.6% −61.5% +191.0% +17.7% +8.2% +28.4% +30.5%
0.2 0.3 0.2 0.3 0.3 0.4 0.6 0.5 0.1 n/a
17.6 16.2 15.4 18.9 17.2 19.9 22.0 22.6 28.0 35.3
−11.6 −9.5 2.7 4.9 −11.4 8.1 11.1 13.4 20.3 29.4
Growth +79.3% −333.1% +37.4% +19.9% +52.0% +45.1%
−13.8 −10.2 1.6 5.0 −7.8 8.3 9.6 9.9 18.5 27.5
−0.6 −0.2 2.2 1.5 −0.1 2.3 3.6 −3.3 5.4 6.8
−12.5 −10.0 −0.6 3.6 −7.6 6.1 5.9 10.5 9.0 17.0
Growth −313.7% −1.9% +76.1% −14.2% +89.6%
Per share
n/a n/a −0.07 0.45 −0.94 0.75 0.75 1.31 1.13 2.12
n/a n/a −0.07 0.42 −0.94 0.72 0.73 1.30 1.12 2.09
Growth −323.8% +1.4% +78.1% −13.8% +86.6%
7.5 7.7 7.8 8.0 8.1 8.1 8.0 8.0 8.0 8.0
7.5 7.7 7.8 8.4 8.1 8.4 8.1 8.1 8.0 8.1
Growth +2.6% +1.7% +7.8% −3.5% +3.3% −3.3% −0.5% −0.7% +1.7%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 20.0% a year over five years.
  • The share count barely moved in five years.
  • Operating margin is up 27.4 points on five years ago, at 14.0%.
  • A net loss in 4 of 10 years on file.