Stocktoria

Perma-Pipe International Holdings, Inc. PPIH

Nasdaq · stock · Industrial & Commercial Fans & Blowers & Air Purifing Equip · website · IPO 1989-12-15 · LEI

Perma-Pipe International Holdings, Inc. statistics & valuation

Market cap$224.8M
P / E13.2×
P / S1.1×
P / B2.5×
Net margin8.1%
Return on equity18.8%
FCF margin-0.6%
Net cash$6.0M
Net debt / EBITDA-0.2×
Enterprise value USD$218.8M
EV / EBITDA6.4×
Earnings yield EBIT/EV13.5%
Return on capital21.4%
Graham number -14%$22.87

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($22.87); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
-12.60% -9.50% -0.40% 2.80% -9.00% 4.40% 4.20% 6.90% 5.70% 8.10% 2017201820192020202120222023202420252026
Gross margin (%)
11.90% 11.20% 18.10% 22.80% 13.20% 23.50% 26.90% 27.50% 33.60% 32.90% 2017201820192020202120222023202420252026
Operating margin (%)
-11.70% -9.00% 2.10% 3.80% -13.40% 5.90% 7.80% 8.90% 12.80% 14.00% 2017201820192020202120222023202420252026
Return on equity (%)
-21.00% -19.30% -1.10% 6.40% -15.50% 11.10% 10.30% 15.90% 12.50% 18.80% 2017201820192020202120222023202420252026
Shares outstanding
7.6M 7.7M 7.9M 8.4M 8.2M 8.4M 8.1M 8.1M 8.0M 8.1M 2017201820192020202120222023202420252026
Net debt ($)
-$345000 $644000 -$3.4M -$6.7M -$906000 $6.2M $7.8M $9.4M -$496000 -$6.0M 2017201820192020202120222023202420252026
Share buybacks ($)
2017201820192020202120222023202420252026
Return on assets (%)
-12.30% -9.50% -0.50% 3.20% -7.40% 4.90% 4.80% 6.70% 5.40% 7.80% 2017201820192020202120222023202420252026
Free cash flow margin (%)
-7.80% -4.20% 2.80% 1.70% -2.10% -3.50% -5.80% 2.40% 7.00% -0.60% 2017201820192020202120222023202420252026
Debt / equity (×)
0.12× 0.15× 0.13× 0.12× 0.13× 0.26× 0.24× 0.23× 0.21× 0.14× 2017201820192020202120222023202420252026
EPS ($)
-$0.07 $0.42 -$0.94 $0.72 $0.73 $1.30 $1.12 $2.09 2017201820192020202120222023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Perma-Pipe International Holdings, Inc. trades at about 12.7× earnings — near its 10-year norm (10-year range 5.2×–20.8×, median 12.3×).

5.2× 20.8×

Shaded band = 10-year range (5.2×–20.8×); dot = today's 12.7×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Gross margin32.9%33.6%27.5%26.9%23.5%13.2%22.8%18.1%11.2%11.9%
Operating margin14.0%12.8%8.9%7.8%5.9%-13.4%3.8%2.1%-9.0%-11.7%
Net margin8.1%5.7%6.9%4.2%4.4%-9.0%2.8%-0.4%-9.5%-12.6%
FCF margin-0.6%7.0%2.4%-5.8%-3.5%-2.1%1.7%2.8%-4.2%-7.8%
Return on assets7.8%5.4%6.7%4.8%4.9%-7.4%3.2%-0.5%-9.5%-12.3%
Return on equity18.8%12.5%15.9%10.3%11.1%-15.5%6.4%-1.1%-19.3%-21.0%
Debt / equity0.14×0.21×0.23×0.24×0.26×0.13×0.12×0.13×0.15×0.12×
Current ratio1.842.011.711.962.041.911.961.701.592.07

Computed from company filings · US · as of 2026-01-31. Facts plus Stocktoria's own computed scores — not investment advice.