PPIH · Perma-Pipe International Holdings, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q3 '26 | Q2 '25 | Q1 '25 | Q3 '25 | Q2 '24 | Q1 '24 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - |
| Cost of Revenue | - | $40.14M | $33.48M | $30.02M | $27.48M | $24.04M | $23.80M | $32.51M | $25.68M | $22.88M |
| Gross Profit | - | $21.00M | $14.42M | $16.72M | $14.09M | $13.47M | $10.52M | $13.18M | $9.46M | $6.77M |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | - | $8.35M | $10.03M | $7.75M | $7.33M | $5.98M | $6.15M | $5.67M | $5.28M | $5.46M |
| Total Operating Expenses | - | $9.60M | $11.24M | $8.84M | $8.50M | $7.33M | $7.38M | $7.14M | $6.77M | $6.70M |
| D&A | - | - | - | $937.0K | - | - | $829.0K | - | - | $915.0K |
| Operating Income | - | $11.40M | $3.19M | $7.89M | $5.59M | $6.14M | $3.13M | $6.04M | $2.69M | $75.0K |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | - | $2.99M | $1.49M | $1.58M | $1.61M | $1.31M | $770.0K | $1.53M | $966.0K | $758.0K |
| Net Income | - | $6.32M | $851.0K | $4.95M | $2.49M | $3.29M | $1.44M | $1.94M | $1.02M | ($1.12M) |
| EPS - Basic | - | $0.78 | $0.11 | $0.62 | $0.31 | $0.41 | $0.18 | $0.24 | $0.13 | ($0.14) |
| EPS - Diluted | - | $0.77 | $0.10 | $0.61 | $0.31 | $0.40 | $0.18 | $0.24 | $0.13 | ($0.14) |
Balance Sheet
| Line item | Q1 '26 | Q3 '26 | Q2 '25 | Q1 '25 | Q3 '25 | Q2 '24 | Q1 '24 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $18.72M | $27.24M | $17.26M | $18.84M | $13.31M | $9.46M | $7.67M | $6.02M | $6.10M | $8.78M |
| Accounts Receivable | $66.02M | $56.63M | $47.21M | $47.01M | $39.90M | $39.93M | $44.28M | $47.09M | $51.84M | $39.90M |
| Inventory | $18.11M | $19.14M | $15.88M | $14.53M | $15.96M | $15.82M | $15.41M | $16.05M | $13.88M | $12.88M |
| Accounts Payable | $24.54M | $32.31M | $23.07M | $20.05M | $20.79M | $21.41M | $24.67M | $26.10M | $23.49M | $14.32M |
| Current Assets | $146.73M | $151.58M | $125.35M | $120.70M | $104.41M | $100.76M | $98.99M | $94.65M | $93.60M | $85.54M |
| Total Assets | $217.49M | $216.99M | $188.99M | $178.31M | $160.75M | $159.19M | $157.16M | $144.21M | $143.31M | $124.79M |
| Current Liabilities | $79.79M | $86.30M | $66.81M | $61.75M | $53.79M | $56.47M | $59.41M | $57.54M | $57.77M | $47.00M |
| Long-term Debt | $4.17M | $12.66M | $3.71M | $3.78M | $8.86M | $8.91M | $4.07M | $4.16M | $4.43M | $4.28M |
| Total Liabilities | - | - | - | - | - | - | - | - | - | - |
| Stockholders' Equity | $90.64M | $85.75M | $80.20M | $77.87M | $71.21M | $68.58M | $65.55M | $56.97M | $57.47M | $56.45M |
| Retained Earnings | $37.14M | $32.22M | $25.91M | $25.06M | $18.34M | $16.82M | $13.53M | $3.45M | $1.52M | $494.0K |
Cash Flow
| Line item | Q1 '26 | Q3 '26 | Q2 '25 | Q1 '25 | Q3 '25 | Q2 '24 | Q1 '24 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | - | $733.0K | - | - | $1.35M | - | - | $3.81M |
| Investing Cash Flow | - | - | - | ($927.0K) | - | - | ($2.01M) | - | - | ($3.22M) |
| Financing Cash Flow | - | - | - | $3.20M | - | - | $2.56M | - | - | $2.46M |
| CapEx | - | - | - | $927.0K | - | - | $2.01M | - | - | $3.23M |
| Free Cash Flow | - | - | - | ($194.0K) | - | - | ($662.0K) | - | - | $585.0K |
Ratios
| Metric | Q1 '26 | Q3 '26 | Q2 '25 | Q1 '25 | Q3 '25 | Q2 '24 | Q1 '24 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | - | - | - | - | - | - | - | - | - | - |
| EBITDA margin | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | -0.04 | - | - | -0.46 | - | - | -0.52 |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | - | 32.1% | 63.6% | 24.2% | 39.3% | 28.4% | 34.8% | 44.2% | 48.6% | - |
| Return on assets | - | 2.9% | 0.5% | 2.8% | 1.5% | 2.1% | 0.9% | 1.3% | 0.7% | -0.9% |
| Return on equity | - | 7.4% | 1.1% | 6.4% | 3.5% | 4.8% | 2.2% | 3.4% | 1.8% | -2.0% |
| Return on invested capital | - | 7.9% | 1.9% | 7.3% | 4.2% | 5.7% | 2.9% | 5.5% | 2.2% | 0.1% |
| Liquidity | ||||||||||
| Current ratio | 1.84 | 1.76 | 1.88 | 1.95 | 1.94 | 1.78 | 1.67 | 1.65 | 1.62 | 1.82 |
| Quick ratio | 1.61 | 1.53 | 1.64 | 1.72 | 1.64 | 1.50 | 1.41 | 1.37 | 1.38 | 1.55 |
| Cash ratio | 0.23 | 0.32 | 0.26 | 0.31 | 0.25 | 0.17 | 0.13 | 0.10 | 0.11 | 0.19 |
| Leverage | ||||||||||
| Debt / Equity | 0.05 | 0.15 | 0.05 | 0.05 | 0.12 | 0.13 | 0.06 | 0.07 | 0.08 | 0.08 |
| Debt / Assets | 0.02 | 0.06 | 0.02 | 0.02 | 0.06 | 0.06 | 0.03 | 0.03 | 0.03 | 0.03 |
| Debt / EBITDA | - | - | - | 0.43 | - | - | 1.03 | - | - | 4.32 |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 2.40 | 2.53 | 2.36 | 2.29 | 2.26 | 2.32 | 2.40 | 2.53 | 2.49 | 2.21 |
| Liabilities / Assets | - | - | - | - | - | - | - | - | - | - |
| Efficiency | ||||||||||
| Asset turnover | - | - | - | - | - | - | - | - | - | - |
| Inventory turnover | - | 2.10 | 2.11 | 2.07 | 1.72 | 1.52 | 1.54 | 2.03 | 1.85 | 1.78 |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | 174d | 173d | 177d | 212d | 240d | 236d | 180d | 197d | 205d |
| Days payable outstanding | - | 294d | 252d | 244d | 276d | 325d | 378d | 293d | 334d | 228d |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | 36.0x | 221.6x | 19.7x | 41.9x | 23.7x | 47.8x | 28.0x | 62.7x | - |
| P / B | - | 2.6x | 2.2x | 1.2x | 1.5x | 1.1x | 1.1x | 0.9x | 1.2x | 1.5x |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | 9.3x | - | - | 16.6x | - | - | 83.8x |
| Growth | ||||||||||
| Revenue growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | 49.1% | 7.0% | 59.0% | - | 42.4% | 55.3% | - | - | - |
| Operating income growth (YoY) | - | 104.1% | -48.1% | 151.7% | - | 128.2% | 4078.7% | - | - | - |
| Net income growth (YoY) | - | 153.5% | -74.1% | 243.2% | - | 221.8% | - | - | - | - |
| EPS growth (YoY) | - | 148.4% | -75.0% | 238.9% | - | 207.7% | - | - | - | - |
| EPS CAGR (3y) | - | 47.5% | - | - | - | -0.8% | - | - | 63.0% | - |
| EPS CAGR (5y) | - | 66.6% | 27.2% | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | 70.7% | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 16.4% | 20.4% | 16.9% | 18.8% | - | 19.3% | 16.1% | - | - | 3.7% |
Peer comparison
Same SIC group: Industrial & Commercial Fans & Blowers & Air Purifing Equip
Comparing Perma-Pipe International Holdings against the 5 most active filers in the same SIC group.