(PPIH) Perma-Pipe International - Overview
Sector: Industrials | Industry: Building Products & Equipment | Exchange: NASDAQ (USA) | Market Cap: 254m USD | Total Return: 127.2% in 12m
Avg Turnover: 2.50M
EPS Trend: 72.8%
Rev. Trend: 93.6%
Warnings
Choppy Below Avwap Earnings
Tailwinds
No distinct edge detected
Perma-Pipe International Holdings, Inc. (PPIH) specializes in the engineering and manufacture of insulated piping, leak detection systems, and anti-corrosion coatings. The company serves diverse infrastructure needs, ranging from district heating and cooling systems to hazardous fluid containment and oil and gas transmission. Headquartered in Texas, its operations span North America and the Middle East, providing both physical products and technical field services.
The industrial piping sector often operates on a project-based business model, where revenue is tied to large-scale infrastructure developments and energy cycles. Specialty piping providers like PPIH differentiate themselves through proprietary leak detection technology and complex insulation methods required for extreme temperature or high-pressure environments.
Investors may find additional context on the companys valuation metrics by exploring the data available on ValueRay.
- Middle East infrastructure spending drives regional project backlog and revenue growth
- Fluctuations in global steel prices impact manufacturing margins and contract profitability
- Expansion of district heating and cooling systems increases North American market share
- Oil and gas pipeline activity levels dictate demand for anti-corrosion coating services
- High project concentration risk creates significant quarterly earnings and cash flow volatility
| Net Income: 17.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.01 > 0.02 and ΔFCF/TA -6.75 > 1.0 |
| NWC/Revenue: 31.74% < 20% (prev 34.56%; Δ -2.82% < -1%) |
| CFO/TA 0.04 > 3% & CFO 9.17m > Net Income 17.0m |
| Net Debt (51.2m) to EBITDA (34.3m): 1.49 < 3 |
| Current Ratio: 1.84 > 1.5 & < 3 |
| Outstanding Shares: last quarter (8.21m) vs 12m ago 2.80% < -2% |
| Gross Margin: 32.94% > 18% (prev 0.34%; Δ 3.26k% > 0.5%) |
| Asset Turnover: 110.2% > 50% (prev 95.85%; Δ 14.37% > 0%) |
| Interest Coverage Ratio: 16.11 > 6 (EBITDA TTM 34.3m / Interest Expense TTM 1.82m) |
| A: 0.31 (Total Current Assets 146.7m - Total Current Liabilities 79.8m) / Total Assets 217.5m |
| B: 0.17 (Retained Earnings 37.1m / Total Assets 217.5m) |
| C: 0.15 (EBIT TTM 29.4m / Avg Total Assets 191.4m) |
| D: 0.27 (Book Value of Equity 29.5m / Total Liabilities 111.2m) |
| Altman-Z'' = 3.89 = AA |
| DSRI: 1.73 (Receivables 99.5m/43.1m, Revenue 210.9m/158.4m) |
| GMI: 1.02 (GM 32.94% / 33.62%) |
| AQI: 0.80 (AQ_t 0.06 / AQ_t-1 0.08) |
| SGI: 1.33 (Revenue 210.9m / 158.4m) |
| TATA: 0.04 (NI 17.0m - CFO 9.17m) / TA 217.5m) |
| Beneish M = -2.25 (Cap -4..+1) = BBB |
As of May 30, 2026, the stock is trading at USD 30.69 with a total of 81,420 shares traded.
Over the past week, the price has changed by -2.11%,
over one month by -2.60%,
over three months by -5.19% and
over the past year by +127.17%.
Perma-Pipe International has no consensus analysts rating.
| Analysts Target Price | 39 | 27.1% |
P/E Trailing = 14.9474
P/E Forward = 27.6243
P/S = 1.2031
P/B = 2.8079
P/EG = 2.8193
Revenue TTM = 210.9m USD
EBIT TTM = 29.4m USD
EBITDA TTM = 34.3m USD
Long Term Debt = 4.17m USD (from longTermDebt, last quarter)
Short Term Debt = 22.0m USD (from shortTermDebt, last quarter)
Debt = 69.9m USD (from shortLongTermDebtTotal, last quarter) + Leases 23.0m
Net Debt = 51.2m USD (calculated: Debt 69.9m - CCE 18.7m)
Enterprise Value = 304.9m USD (253.8m + Debt 69.9m - CCE 18.7m)
Interest Coverage Ratio = 16.11 (Ebit TTM 29.4m / Interest Expense TTM 1.82m)
EV/FCF = -239.9x (Enterprise Value 304.9m / FCF TTM -1.27m)
FCF Yield = -0.42% (FCF TTM -1.27m / Enterprise Value 304.9m)
FCF Margin = -0.60% (FCF TTM -1.27m / Revenue TTM 210.9m)
Net Margin = 8.08% (Net Income TTM 17.0m / Revenue TTM 210.9m)
Gross Margin = 32.94% ((Revenue TTM 210.9m - Cost of Revenue TTM 141.4m) / Revenue TTM)
Gross Margin QoQ = 31.45% (prev 34.35%)
Tobins Q-Ratio = 1.40 (Enterprise Value 304.9m / Total Assets 217.5m)
Interest Expense / Debt = 2.61% (Interest Expense 1.82m / Debt 69.9m)
Taxrate = 12.28% (787k / 6.41m)
NOPAT = 25.8m (EBIT 29.4m * (1 - 12.28%))
Current Ratio = 1.84 (Total Current Assets 146.7m / Total Current Liabilities 79.8m)
Debt / Equity = 0.77 (Debt 69.9m / totalStockholderEquity, last quarter 90.6m)
Debt / EBITDA = 1.49 (Net Debt 51.2m / EBITDA 34.3m)
Debt / FCF = -40.25 (negative FCF - burning cash) (Net Debt 51.2m / FCF TTM -1.27m)
Total Stockholder Equity = 83.6m (last 4 quarters mean from totalStockholderEquity)
RoA = 8.90% (Net Income 17.0m / Total Assets 217.5m)
RoE = 20.37% (Net Income TTM 17.0m / Total Stockholder Equity 83.6m)
RoCE = 33.46% (EBIT 29.4m / Capital Employed (Equity 83.6m + L.T.Debt 4.17m))
RoIC = 16.13% (NOPAT 25.8m / Invested Capital 159.7m)
WACC = 8.16% (E(253.8m)/V(323.7m) * Re(9.78%) + D(69.9m)/V(323.7m) * Rd(2.61%) * (1-Tc(0.12)))
Discount Rate = 9.78% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 0.0 | Cagr: 0.0%
[DCF] Fair Price = unknown (Cash Flow -1.27m)
EPS Correlation: 72.75 | EPS CAGR: 44.34% | SUE: N/A | # QB: 0
Revenue Correlation: 93.58 | Revenue CAGR: 14.78% | SUE: N/A | # QB: 0
EPS current Quarter (2026-07-31): EPS=0.48 | Chg30d=+23.08% | Revisions=+20% | Analysts=1
EPS current Year (2027-01-31): EPS=2.07 | Chg30d=+20.35% | Revisions=+20% | GrowthEPS=-1.0% | GrowthRev=+7.6%
EPS next Year (2028-01-31): EPS=2.37 | Chg30d=+25.40% | Revisions=+20% | GrowthEPS=+14.5% | GrowthRev=+9.2%