PPIH
Perma-Pipe International Holdings Inc
NASDAQ: PPIH · INDUSTRIALS · BUILDING PRODUCTS & EQUIPMENT
$32.73
+3.87% today
Updated 2026-04-30
Market cap
$264.49M
P/E ratio
15.58
P/S ratio
1.25x
EPS (TTM)
$2.09
Dividend yield
—
52W range
$11 – $37
Volume
0.1M
Perma-Pipe International Holdings Inc (PPIH) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $213.47M | $239.49M | $303.07M | $230.38M | $218.60M | $233.50M | $212.02M | $226.84M | $194.86M | $122.70M | $98.84M | $105.25M | $128.97M | $127.66M | $84.69M | $138.55M | $142.57M | $150.67M | $158.38M | $210.93M |
| Revenue growth (YoY) | — | +12.2% | +26.5% | -24.0% | -5.1% | +6.8% | -9.2% | +7.0% | -14.1% | -37.0% | -19.4% | +6.5% | +22.5% | -1.0% | -33.7% | +63.6% | +2.9% | +5.7% | +5.1% | +33.2% |
| Cost of revenue | $169.07M | $198.24M | $244.12M | $178.44M | $174.14M | $197.20M | $173.91M | $174.62M | $156.33M | $95.95M | $87.13M | $93.51M | $105.63M | $98.62M | $73.52M | $106.02M | $104.27M | $109.21M | $105.14M | $141.44M |
| Gross profit | $44.41M | $41.25M | $58.95M | $51.95M | $44.46M | $36.29M | $38.11M | $52.22M | $38.53M | $26.74M | $11.72M | $11.74M | $23.34M | $29.05M | $11.18M | $32.53M | $38.30M | $41.46M | $53.25M | $69.49M |
| Gross margin | 20.8% | 17.2% | 19.5% | 22.5% | 20.3% | 15.5% | 18.0% | 23.0% | 19.8% | 21.8% | 11.9% | 11.2% | 18.1% | 22.8% | 13.2% | 23.5% | 26.9% | 27.5% | 33.6% | 32.9% |
| R&D | — | $4.99M | $2.52M | $2.48M | $1.80M | $2.10M | $2.20M | $700000.00 | $1.20M | $1.10M | $200000.00 | $300000.00 | $200000.00 | $300000.00 | $300000.00 | $400000.00 | $700000.00 | $500000.00 | $100000.00 | — |
| SG&A | $35.46M | $38.35M | $30.82M | $31.72M | $27.93M | $26.25M | $25.58M | $28.12M | $19.20M | $18.87M | $17.58M | $16.21M | $15.36M | $18.93M | $17.22M | $19.89M | $21.99M | $22.59M | $28.00M | $35.29M |
| Operating income | $8.94M | $2.90M | $10.79M | $7.20M | $2.90M | $-5.09M | $-7.26M | $13.08M | $2.21M | $2.88M | $-11.58M | $-9.51M | $2.72M | $4.88M | $-11.38M | $8.11M | $11.14M | $13.36M | $20.30M | $29.45M |
| Operating margin | 4.2% | 1.2% | 3.6% | 3.1% | 1.3% | -2.2% | -3.4% | 5.8% | 1.1% | 2.3% | -11.7% | -9.0% | 2.1% | 3.8% | -13.4% | 5.9% | 7.8% | 8.9% | 12.8% | 14.0% |
| EBITDA | $13.01M | $7.33M | $16.67M | $13.56M | $10.63M | $2.78M | $-1.12M | $19.94M | $11.74M | $9.89M | $-7.51M | $-4.37M | $7.30M | $10.58M | $-2.17M | $13.57M | $15.45M | $16.15M | $20.30M | $34.52M |
| EBITDA margin | 6.1% | 3.1% | 5.5% | 5.9% | 4.9% | 1.2% | -0.5% | 8.8% | 6.0% | 8.1% | -7.6% | -4.2% | 5.7% | 8.3% | -2.6% | 9.8% | 10.8% | 10.7% | 12.8% | 16.4% |
| EBIT | $8.94M | $2.90M | $10.90M | $7.22M | $4.56M | $-2.81M | $-6.92M | $14.15M | $5.85M | $3.96M | $-13.03M | $-9.40M | $2.72M | $6.14M | $-7.13M | $9.24M | $11.80M | $12.32M | $20.41M | $29.61M |
| Interest expense | $2.68M | $2.41M | $2.83M | $1.91M | $1.26M | $2.17M | $2.01M | $1.85M | $1.04M | $950000.00 | $746000.00 | $808000.00 | $1.29M | $1.11M | $649000.00 | $918000.00 | $2.24M | $2.43M | $2.22M | $2.12M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $4.59M | $-298000.00 | $6.69M | $4.67M | $4.51M | $-4.99M | $-18.48M | $21.03M | $-256000.00 | $-4.41M | $-12.47M | $-9.98M | $-550000.00 | $3.58M | $-7.64M | $6.06M | $5.95M | $10.47M | $8.98M | $17.04M |
| Net income growth (YoY) | — | -106.5% | +2344.6% | -30.2% | -3.4% | -210.6% | -270.7% | +213.8% | -101.2% | -1622.3% | -182.9% | +20.0% | +94.5% | +750.2% | -313.7% | +179.3% | -1.9% | +76.1% | -14.2% | +89.6% |
| Profit margin | 2.2% | -0.1% | 2.2% | 2.0% | 2.1% | -2.1% | -8.7% | 9.3% | -0.1% | -3.6% | -12.6% | -9.5% | -0.4% | 2.8% | -9.0% | 4.4% | 4.2% | 6.9% | 5.7% | 8.1% |