Perma-Pipe International Holdings, Inc. (PPIH) Financial Statements
Industry: Industrial & Commercial Fans & Blowers & Air Purifing Equip
In fiscal 2026, Perma-Pipe International reported revenue of $210.9M, up 33.2% from $158.4M the year before. Net income was $17.0M (a 8.1% net margin), or $2.09 per diluted share. Gross margin was 32.9% and operating margin was 14.0%. Operating activities generated $9.2M of cash, leaving -$1.3M of free cash flow. At fiscal year end, Perma-Pipe International held $217.5M in total assets against $126.8M in total liabilities, including $18.7M of cash and equivalents.
Open the full interactive Perma-Pipe International financials → Quarterly statements, key ratios, valuation history and price charts.
Perma-Pipe International Key Stats
| Share Price | $30.65 |
|---|---|
| Market Cap | $253.2M |
| P/E Ratio | 14.7 |
| Revenue YoY Growth | +33.2% |
| 52-Week Range | $23.02 – $35.29 |
| Shares Outstanding | 8.2 million (basic, 2027 Q2) |
Perma-Pipe International Income Statement
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|---|
| Revenue | $84.7M | $138.6M | $142.6M | $150.7M | $158.4M | $210.9M |
| Gross Profit | $11.2M | $32.5M | $38.3M | $41.5M | $53.2M | $69.5M |
| Operating Income | -$11.4M | $8.1M | $11.1M | $13.4M | $20.3M | $29.4M |
| Pre-Tax Income | -$7.8M | $8.3M | $9.6M | $9.9M | $18.5M | $27.5M |
| Income Tax | -$133,000 | $2.3M | $3.6M | -$3.3M | $5.4M | $6.8M |
| Net Income | -$7.6M | $6.1M | $5.9M | $10.5M | $9.0M | $17.0M |
| Diluted EPS | -$0.94 | $0.72 | $0.73 | $1.30 | $1.12 | $2.09 |
Perma-Pipe International Quarterly Results
| 2026 Q3 | 2026 Q4 | 2027 Q1 | 2027 Q2 | |
|---|---|---|---|---|
| Revenue | $61.1M | $55.1M | $50.3M | $59.6M |
| Net Income | $6.3M | $4.9M | $1.8M | $2.5M |
| Diluted EPS | $0.77 | $0.60 | $0.22 | $0.31 |
Perma-Pipe International Balance Sheet
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $7.2M | $8.2M | $5.8M | $5.8M | $15.7M | $18.7M |
| Current Assets | $53.9M | $78.4M | $85.7M | $98.8M | $108.8M | $146.7M |
| Total Assets | $102.7M | $123.4M | $123.0M | $155.7M | $165.2M | $217.5M |
| Current Liabilities | $28.3M | $38.4M | $43.8M | $57.7M | $54.1M | $79.8M |
| Total Long-Term Debt | $13.0M | $12.4M | $15.0M | $4.2M | $12.9M | $4.2M |
| Total Liabilities | $53.4M | $68.9M | $65.2M | $90.0M | $93.1M | $126.8M |
| Shareholders' Equity | $49.3M | $54.5M | $57.8M | $65.7M | $72.1M | $90.6M |
Perma-Pipe International Cash Flow Statement
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $165,000 | -$2.6M | -$1.2M | $14.7M | $13.9M | $9.2M |
| Cash From Investing | -$2.0M | -$2.3M | -$6.4M | -$11.1M | -$2.8M | -$10.4M |
| Cash From Financing | -$4.1M | $6.2M | $4.5M | -$3.3M | -$907,000 | $6.6M |
| Free Cash Flow | -$1.8M | -$4.8M | -$8.2M | $3.6M | $11.1M | -$1.3M |
Figures from Perma-Pipe International's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Perma-Pipe International financials page for every line item.
Perma-Pipe International Company Profile
| Ticker | PPIH |
|---|---|
| Exchange | Nasdaq |
| Industry | Industrial & Commercial Fans & Blowers & Air Purifing Equip |
| Headquarters | The Woodlands, Texas |
| Incorporated in | Delaware |
| Fiscal Year End | January 31 |
| SEC Filer Category | Accelerated filer, smaller reporting company |
| SEC CIK | 0000914122 |
Frequently Asked Questions
What was Perma-Pipe International's revenue in fiscal 2026?
Perma-Pipe International (PPIH) reported revenue of $210.9M for fiscal 2026.
What is Perma-Pipe International's annual revenue history?
Perma-Pipe International's annual revenue by fiscal year: 2021: $84.7M; 2022: $138.6M; 2023: $142.6M; 2024: $150.7M; 2025: $158.4M; 2026: $210.9M.
What was Perma-Pipe International's net income in fiscal 2026?
Perma-Pipe International reported net income of $17.0M for fiscal 2026.
What was Perma-Pipe International's earnings per share (EPS) in fiscal 2026?
Perma-Pipe International's diluted EPS was $2.09 for fiscal 2026 (adjusted for any later stock splits).
How much free cash flow did Perma-Pipe International generate in fiscal 2026?
Perma-Pipe International generated -$1.3M of free cash flow in fiscal 2026.
What was Perma-Pipe International's revenue last quarter?
In its most recent reported quarter (2027 Q2), Perma-Pipe International reported revenue of $59.6M.
How much debt does Perma-Pipe International have?
Perma-Pipe International reported $4.2M of long-term debt, including the current portion, at the end of fiscal 2026.
How many shares of Perma-Pipe International are outstanding?
Perma-Pipe International reported a weighted average of 8.2 million basic shares outstanding in 2027 Q2.
What is Perma-Pipe International's market cap?
Based on its latest closing price, Perma-Pipe International (PPIH) has a market capitalization of about $253.2M.
When does Perma-Pipe International's fiscal year end?
Perma-Pipe International's fiscal year end, as registered with the SEC, is January 31.
Where is Perma-Pipe International headquartered?
Perma-Pipe International lists its business address in The Woodlands, Texas in its SEC filings.
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