Perma-Pipe International Holdings (PPIH) AI Stock Analysis

• Market Cap: $250.89M
• Dividend Yield: N/A
• Average Volume (3M): 106.81K
• Price to Earnings (P/E): 19.7
• Beta (1Y): 1.17
• Revenue Growth: 9.97%
• EPS Growth: -4.70%
• Country: US
• Employees: 750
• Sector: Industrials
• Sector Strength: 74
• Industry: Construction
• EPS (TTM): 0.61
• Shares Outstanding: 7,982,568
• 10 Day Avg. Volume: 146,641
• 30 Day Avg. Volume: 106,805
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.50
• Enterprise Value/Revenue: 0.74
• Enterprise Value/Gross Profit: 2.12
• Enterprise Value/Ebitda: 4.32
• 1Y Price Target: $34.00
• Price Target Upside: 11.44% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 75 Outperform
• Price Target: $34.00 ▲(11.44% Upside)

Perma-Pipe International Holdings scores well due to its strong financial performance and positive corporate leadership change. However, technical indicators suggest caution due to overbought conditions, and the valuation is moderate with no dividend yield.

Perma-Pipe International Holdings Business Overview & Revenue Model

Company Description

Perma-Pipe International Holdings, Inc. (PPIH) is a leading provider of engineered piping systems and solutions for the energy, industrial, and commercial markets. The company specializes in the design, manufacturing, and installation of pre-insulated piping systems used for district heating and cooling, as well as for the transportation of fluids in various applications. PPIH operates in multiple sectors, including oil and gas, chemical processing, and water management, offering a range of products from insulated pipe systems to monitoring and leak detection technologies.

How the Company Makes Money

PPIH generates revenue primarily through the sale of its engineered piping systems and related services. This includes the manufacturing and installation of pre-insulated piping products, which are critical for efficiency in heating and cooling applications in large buildings and industrial processes. The company also earns money through maintenance contracts and service agreements that support its installed systems. Key revenue streams include project-based contracts with large corporations and government entities, as well as recurring revenues from ongoing service and maintenance. Additionally, strategic partnerships with construction firms and energy companies enhance its market reach and contribute to its earnings, allowing PPIH to secure large-scale projects and leverage its technological expertise in the piping industry.

Perma-Pipe International Holdings Financial Statement Overview

Summary

Perma-Pipe International Holdings demonstrates strong financial performance with consistent revenue growth and improving profitability. The balance sheet is stable, though increasing liabilities may require attention. Strong cash flow generation supports the company's financial health.

Income Statement

Perma-Pipe International Holdings shows strong financial performance with consistent revenue growth and improving profitability. The TTM revenue is up by 7.8% compared to the previous year, with a notable increase in gross profit margin from 33.6% to 34.8%. The net profit margin for TTM stands at 7.3%, reflecting better cost management. EBIT and EBITDA margins have also improved, indicating operational efficiency.

Balance Sheet

The company's balance sheet reflects a stable financial position with a debt-to-equity ratio of 0.48, which is manageable within the construction industry. The equity ratio of 43.7% signifies a solid capital structure. However, the total liabilities have been increasing, which could pose a risk if not managed properly.

Cash Flow

The cash flow statements indicate strong cash generation, with free cash flow showing robust growth. The operating cash flow to net income ratio is healthy, suggesting efficient conversion of earnings into cash. The free cash flow to net income ratio is also positive, indicating good cash management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	170.81M	158.38M	150.67M	142.57M	138.55M	84.69M
Gross Profit	59.45M	53.25M	41.46M	38.30M	32.53M	11.18M
EBITDA	29.20M	20.30M	15.99M	15.45M	13.57M	-2.17M
Net Income	12.49M	8.98M	10.47M	5.95M	6.06M	-7.64M
Balance Sheet
Total Assets	178.31M	165.24M	155.71M	122.97M	123.40M	102.69M
Cash, Cash Equivalents and Short-Term Investments	18.84M	15.72M	5.84M	5.77M	8.21M	7.17M
Total Debt	37.15M	33.25M	32.79M	29.38M	34.54M	27.61M
Total Liabilities	88.21M	82.14M	83.73M	65.18M	68.94M	53.38M
Stockholders Equity	77.87M	72.14M	65.71M	57.78M	54.46M	49.31M
Cash Flow
Free Cash Flow	10.66M	11.05M	3.63M	-8.22M	-4.84M	-1.80M
Operating Cash Flow	14.40M	13.93M	14.73M	-1.24M	-2.57M	165.00K
Investing Cash Flow	-3.71M	-2.85M	-11.10M	-6.38M	-2.25M	-1.96M
Financing Cash Flow	-268.00K	-907.00K	-3.26M	4.54M	6.23M	-4.14M

Perma-Pipe International Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 30.51
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PPIH, the sentiment is Positive. The current price of 30.51 is above the 20-day moving average (MA) of 28.83, above the 50-day MA of 25.70, and above the 200-day MA of 17.25, indicating a bullish trend. The MACD of 1.81 indicates Negative momentum. The RSI at 60.11 is Neutral, neither overbought nor oversold. The STOCH value of 69.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PPIH.

Perma-Pipe International Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JBI	76 Outperform	$1.42B	33.59	7.93%	―	-14.06%	-65.38%
PPIH	75 Outperform	$250.89M	19.75	17.42%	―	9.97%	-4.70%
SWIM	72 Outperform	$932.34M	77.89	-3.29%	―	-0.11%	-213.56%
GMS	65 Neutral	$4.20B	42.37	6.97%	―	-1.10%	-57.18%
Sector *	64 Neutral	$10.73B	15.74	7.56%	2.01%	2.76%	-15.10%
JELD	52 Neutral	$551.70M	―	-56.74%	―	-15.16%	-1232.39%
ASPN	47 Neutral	$522.99M	35.31	-75.47%	―	11.18%	-3810800.00%

Perma-Pipe International Holdings Corporate Events

Perma-Pipe Appoints New Chairman After Annual Meeting

On June 25, 2025, Perma-Pipe International Holdings held its Annual Meeting where stockholders voted on several key proposals. Four directors were elected to serve until the 2026 Annual Meeting, with some directors tendering their resignations due to not receiving a majority of votes. Additionally, David J. Mansfield resigned from the Board. Over 94% of shares approved the compensation of the company’s executive officers, and over 86% voted for an annual advisory vote on executive compensation. PricewaterhouseCoopers LLP was ratified as the independent registered public accounting firm for the fiscal year ending January 31, 2026, with over 99% approval. Jon C. Biro was appointed as the new Chairman of the Board, succeeding Jerome T. Walker.

Perma-Pipe Appoints Saleh Sagr as New CEO

On June 12, 2025, Perma-Pipe International Holdings, Inc. announced the departure of David Mansfield as CEO, effective June 7, 2025, and the appointment of Saleh Sagr as the new President and CEO. Saleh Sagr, who joined the company in 2019 and has extensive experience in the energy and infrastructure sectors, is expected to lead Perma-Pipe towards continued growth and innovation, enhancing its market position and stakeholder value.