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Perma-pipe International Holdings, Inc. key statistics and ratios

In fiscal 2026, Perma-pipe International Holdings, Inc. had return on equity of 20.9% and a net margin of 8.1%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2011Jan 20112012Jan 20122013Jan 20132014Jan 20142015Jan 20152016Jan 20162017Jan 20172018Jan 20182019Jan 20192020Jan 20202021Jan 20212022Jan 20222023Jan 20232024Jan 20242025Jan 20252026Jan 2026LTMJul 2026
Net margin2.0%−2.1%−11.0%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%6.9%
Return on equity5.6%−6.6%−29.2%32.3%−0.2%−6.2%−19.4%−18.0%−1.1%6.7%−14.6%11.7%10.6%17.0%13.0%20.9%16.9%
Return on assets2.7%−3.1%−12.1%13.4%−0.1%−3.1%−10.4%−9.7%−0.5%3.3%−7.1%5.4%4.8%7.5%5.6%8.9%6.9%
Effective tax rate———−4.0%41.9%45.7%———29.0%—27.2%37.8%−33.6%29.1%24.9%22.7%
R&D as % of revenue——1.3%0.3%0.9%0.9%0.2%0.3%0.2%0.2%0.4%0.3%0.4%0.3%0.1%——

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 5 checks passed · July 31, 2026
What it owns · $233m
Short-term assets $154mLonger-term assets $79m
What it owes, and who funded it · $164m
Short-term liabilities $70mShareholders' equity $93m
  • Short-term assets cover short-term liabilities $154m of assets due within a year against $70m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $32m of cash against $36m of debt.
  • Debt below 40% of shareholders' equity Debt is 39% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 9% to 39% over five years.
  • A year's operating cash flow covers at least 20% of debt $24m of operating cash flow against $36m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Perma-pipe International Holdings, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

29 /100

Weak moat

How hard Perma-pipe International Holdings's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 2 / 20

    Net income has been a median 3.0% of total assets over 10 years.

  • Pricing power 4 / 20

    Gross margin has been a median 22.7%, moving by 7.1 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 5.1%; its worst year was -10.4%.

  • Cash conversion 7 / 20

    Free cash flow was positive in 6 of 10 years, at a median 1.9% of revenue.

  • Discipline 16 / 20

    The diluted share count rose 0.7% over five years; stock-based pay has been a median 0.8% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: GHM vs PPIHKEQU vs PPIHHURC vs PPIH

More: Industrial Machinery & Supplies & Components stocks compared, Industrials sector, rankings of US companies

Figures from Perma-pipe International Holdings, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Perma-pipe International Holdings, Inc.