A Business at a Glance
0 of 1 daily views used (1 remaining). Sign up free for +5 more daily views (6 total), or try AAPL for a full preview.
Perma-Pipe International Holdings, Inc.
PPIH
$205M
Mkt Cap
$25.11
-2.07%
Perma-Pipe International Holdings, Inc. (PPIH) has a current P/E ratio of 14.7, compared to its historical median P/E of 13.7. The stock is currently considered Fair based on its historical valuation range.
Perma-Pipe International Holdings, Inc. (PPIH) has a 5-year average return on invested capital (ROIC) of 16.8%. This indicates strong capital allocation and a potential competitive advantage.
Perma-Pipe International Holdings, Inc. (PPIH) has a market capitalization of $205M. It is classified as a small-cap stock.
Perma-Pipe International Holdings, Inc. (PPIH) does not currently pay a regular dividend.
Based on historical P/E analysis, Perma-Pipe International Holdings, Inc. (PPIH) appears fair. The current P/E of 14.7 is 7% above its historical median of 13.7. The estimated fair value CAGR (P/E method) is 51.8%.
Perma-Pipe International Holdings, Inc. (PPIH) operates in the Industrial & Commercial Fans & Blowers & Air Purifing Equip industry, within the Industrials sector.
ITEM 1. BUSINESS Perma-Pipe International Holdings, Inc., collectively with its subsidiaries ("PPIH", the "Company", "we", "our" or the "Registrant"), is engaged in the manufacture and sale of products in one reportable segment: Piping Systems. The Company was incorporated in Delaware on October 12, 1993. The Company's common stock is traded on the Nasdaq Global Market and reported under the ticker symbol "PPIH". The Company's fiscal year ends on January 31. Years, results and balances described as 2025, 2024 and 2023 are for the fiscal year ending January 31, 2026 and the fiscal years ended January 31, 2025 and 2024, respectively. PRODUCTS AND SERVICES The Company engineers, designs, manufactures and sells specialty piping systems and leak detection systems.
| Metric | TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|---|
| Revenue | 0 | - | - | - | - | - |
| Net Income | 17M | 17M | 9.0M | 10M | 5.9M | 6.1M |
| EPS | $2.09 | $2.09 | $1.12 | $1.30 | $0.73 | $0.72 |
| Free Cash Flow | -1.3M | -1.3M | 11M | 3.6M | -8.2M | -4.8M |
| ROIC | 27.5% | 28.3% | 17.7% | 17.8% | 10.2% | 9.7% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.05 | 0.05 | 0.45 | 0.35 | 0.44 | 0.36 |
| Dividends/Share | $0.00 | $0.00 | - | - | - | - |
| Operating Income | 29M | 29M | 20M | 13M | 11M | 8.1M |
| Operating Margin | 0.0% | - | - | - | - | - |
| ROE | 18.8% | 20.9% | 13.0% | 17.0% | 10.6% | 11.7% |
| Shares Outstanding | 8M | 8M | 8M | 8M | 8M | 8M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 127M | 123M | 99M | 105M | -1.1M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| Gross Margin | 24.2% | 21.8% | 11.9% | 11.2% | -2078.3% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | 1.2M | 1.1M | 200K | 300K | 200K | 300K | 300K | 400K | 600K | 500K | 100K | N/A | N/A |
| SG&A | 19M | 19M | 18M | 16M | 15M | 19M | 17M | 20M | 22M | 23M | 28M | 35M | 35M |
| EBIT | 5.8M | 2.9M | -12M | -9.5M | 2.9M | 4.9M | -11M | 8.1M | 11M | 13M | 20M | 29M | 29M |
| Op. Margin | 4.6% | 2.3% | -11.7% | -9.0% | -257.2% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Net Income | -181K | -4.4M | -12M | -10.0M | -550K | 3.6M | -7.6M | 6.1M | 5.9M | 10M | 9.0M | 17M | 17M |
| Net Margin | -0.1% | -3.6% | -12.6% | -9.5% | 49.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Non-Recurring | 188K | 8.1M | 127K | -219K | -46K | -318K | -58K | -41K | -43K | 6K | -292K | 16K | 16K |
| Returns on Capital | |||||||||||||
| ROIC | 4.2% | 2.3% | -18.2% | -15.9% | 2.7% | 5.5% | -13.0% | 9.7% | 10.2% | 17.8% | 17.7% | 28.3% | 27.5% |
| ROE | -0.2% | -6.2% | -19.4% | -18.0% | -1.1% | 6.7% | -14.6% | 11.7% | 10.6% | 17.0% | 13.0% | 20.9% | 18.8% |
| ROA | -0.1% | -3.1% | -10.4% | -9.7% | -0.5% | 3.3% | -7.1% | 5.4% | 4.8% | 7.5% | 5.6% | 8.9% | 7.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 3.5M | -2.9M | -5.5M | -1.8M | 5.0M | 4.1M | 165K | -2.6M | -1.2M | 15M | 14M | 9.2M | 9.2M |
| Free Cash Flow | -2.4M | -9.4M | -7.7M | -5.2M | 3.6M | 1.3M | -1.8M | -4.8M | -8.2M | 3.6M | 11M | -1.3M | -1.3M |
| Owner Earnings | -2.5M | -9.1M | -12M | -8.3M | -762K | -1.4M | -5.6M | -8.0M | -5.9M | 10.0M | 9.4M | 1.7M | 1.7M |
| CapEx | 5.9M | 6.5M | 2.3M | 3.4M | 1.4M | 2.8M | 2.0M | 2.3M | 7.0M | 11M | 2.9M | 10M | 10M |
| Maint. CapEx | 5.9M | 5.9M | 5.5M | 5.0M | 4.6M | 4.4M | 4.7M | 4.3M | 3.6M | 3.8M | 3.6M | 4.9M | 4.9M |
| Growth CapEx | 0 | 528K | 0 | 0 | 0 | 0 | 0 | 0 | 3.3M | 7.3M | 0 | 5.5M | 5.5M |
| D&A | 5.9M | 5.9M | 5.5M | 5.0M | 4.6M | 4.4M | 4.7M | 4.3M | 3.6M | 3.8M | 3.6M | 4.9M | 4.9M |
| CapEx/OCF | 168.0% | N/A | N/A | N/A | N/A | 46.5% | 1189.7% | N/A | N/A | 75.4% | 20.6% | N/A | 113.9% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 290K | 0 | 0 | 0 | 0 | 0 | 2.0M | 69K | 942K | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | 0.0% | N/A | N/A | 2.7% | 0.1% | 1.4% | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 124K | 278K | 1.4M | 1.4M | 1.2M | 1.0M | 1.0M | 1.1M | 1.0M | 913K | 860K | 2.5M | 2.5M |
| Debt Repayment | 3.6M | 2.5M | 10M | 211K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 8.6M | 13M | 8.5M | 17M | 16M | 13M | 13M | 12M | 20M | 17M | 17M | -14M | -14M |
| Cash & Equiv. | 9.9M | 17M | 7.6M | 7.1M | 10M | 13M | 7.2M | 8.2M | 5.8M | 5.8M | 16M | 19M | 19M |
| Long-Term Debt | 2.4M | 1.5M | 7.3M | 7.7M | 6.8M | 6.7M | 6.3M | 5.1M | 4.4M | 4.2M | 3.7M | 4.2M | 4.2M |
| Debt/Equity | 0.25 | 0.43 | 0.27 | 0.46 | 0.50 | 0.48 | 0.40 | 0.36 | 0.44 | 0.35 | 0.45 | 0.05 | 0.05 |
| Interest Coverage | 5.6 | 3.0 | -15.5 | -11.8 | 2.2 | 4.4 | -17.5 | 8.8 | 5.0 | 5.5 | 9.1 | 13.9 | 13.9 |
| Equity | 73M | 69M | 59M | 51M | 52M | 56M | 49M | 54M | 58M | 66M | 72M | 91M | 91M |
| Total Assets | 148M | 138M | 102M | 105M | 102M | 112M | 103M | 123M | 123M | 156M | 165M | 217M | 217M |
| Total Liabilities | 75M | 69M | 42M | 53M | 51M | 57M | 53M | 69M | 65M | 84M | 82M | 111M | 111M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | N/A | N/A | -3.7M | -4.3M | -715K | -8.4M | -2.3M | 1.6M | 12M | 20M | 37M | 37M |
| Working Capital | 44M | 32M | 30M | 23M | 26M | 31M | 26M | 40M | 42M | 41M | 55M | 67M | 67M |
| Current Assets | 110M | 96M | 58M | 62M | 63M | 64M | 54M | 78M | 86M | 99M | 109M | 147M | 147M |
| Current Liabilities | 65M | 64M | 28M | 39M | 37M | 33M | 28M | 38M | 44M | 58M | 54M | 80M | 80M |
| Per Share Data | |||||||||||||
| EPS | -0.04 | -0.61 | -1.67 | -1.30 | -0.07 | 0.42 | -0.94 | 0.72 | 0.73 | 1.30 | 1.12 | 2.09 | 2.09 |
| Owner EPS | -0.56 | -1.26 | -1.66 | -1.08 | -0.10 | -0.16 | -0.69 | -0.95 | -0.72 | 1.24 | 1.18 | 0.21 | 0.21 |
| Book Value | 16.09 | 9.55 | 7.95 | 6.67 | 6.58 | 6.53 | 6.07 | 6.47 | 7.10 | 8.16 | 8.99 | 11.12 | 11.12 |
| Cash Flow/Share | 0.77 | -0.40 | -0.73 | -0.24 | 0.63 | 0.48 | 0.02 | -0.31 | -0.15 | 1.83 | 1.74 | 1.12 | 2.69 |
| Dividends/Share | N/A | N/A | N/A | N/A | 0.00 | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 | 0.00 |
| Shares Out. | 4.5M | 7.2M | 7.5M | 7.7M | 7.9M | 8.5M | 8.1M | 8.4M | 8.1M | 8.1M | 8.0M | 8.2M | 8.2M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | 21.9 | N/A | 12.2 | 15.1 | 6.4 | 13.7 | N/A | 12.0 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | 58.4 | N/A | N/A | N/A | 18.5 | 11.2 | N/A | N/A |
| EV/EBIT | 8.5 | 13.3 | N/A | N/A | N/A | 15.0 | N/A | 9.5 | 8.5 | 5.2 | 5.6 | N/A | 6.5 |
| Price/Book | N/A | N/A | N/A | N/A | N/A | 1.4 | 1.0 | 1.4 | 1.6 | 1.0 | 1.7 | N/A | 2.3 |
| Price/Sales | 0.8 | 0.3 | 0.6 | 0.6 | N/A | 0.6 | 0.6 | 0.4 | 0.6 | 0.5 | 0.5 | N/A | N/A |
| FCF Yield | -4.5% | -20.9% | -11.2% | -7.4% | N/A | 1.7% | -3.6% | -6.6% | -9.2% | 5.4% | 9.0% | N/A | -0.6% |
| Market Cap | 53M | 45M | 69M | 71M | 0 | 78M | 50M | 74M | 90M | 67M | 123M | 0 | 205M |
| Avg. Price | 10.78 | 5.88 | 7.65 | 8.28 | 0.00 | 8.95 | 6.24 | 7.34 | 9.81 | 8.98 | 10.75 | 0.00 | 25.11 |
| Year-End Price | 5.82 | 6.18 | 9.23 | 9.23 | 0.00 | 9.19 | 6.19 | 8.75 | 11.00 | 8.31 | 15.39 | 0.00 | 25.11 |
Perma-Pipe International Holdings, Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Perma-Pipe International Holdings, Inc. trades at 14.7x trailing earnings, compared to its 15-year median P/E of 13.7x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 16.6x vs a median of 18.5x. The company's 5-year average ROIC is 16.8%. At current prices, the estimated annualized return to fair value is +46.8%.
Perma-Pipe International Holdings, Inc. (PPIH) generated $-1 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Perma-Pipe International Holdings, Inc. (PPIH) has a debt-to-equity ratio of 0.05. This indicates a conservatively financed balance sheet.
Perma-Pipe International Holdings, Inc. (PPIH) reported earnings per share (EPS) of $2.09 in its most recent fiscal year.
Perma-Pipe International Holdings, Inc. (PPIH) has a return on equity (ROE) of 20.9%. This indicates the company generates strong returns for shareholders.
The Ledger Terminal provides 16 years of financial data for Perma-Pipe International Holdings, Inc. (PPIH), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Perma-Pipe International Holdings, Inc. (PPIH) has a book value per share of $11.12, based on its most recent annual SEC filing.