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Research & education only — not financial advice.TENK is not a registered investment adviser; calls are impersonal, generated from SEC filings and a delayed/third-party price feed, and may be wrong or out of date. The operator and an affiliated trading operation may hold or trade the securities TENK rates — see Disclosures. Do your own research.

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Home›PPIH›Financials
Annual statements · SEC XBRL · FY2017 – FY2026

Perma-Pipe International Holdings, Inc. (PPIH) financials

Income statement

Perma-Pipe International Holdings, Inc. (PPIH) income statement, annual, from SEC filings
Fiscal yearFY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue$98.8M$105M$129M$128M$84.7M$139M$143M$151M$158M$211M
Revenue growth—6.5%22.5%-1.0%-33.7%63.6%2.9%5.7%5.1%33.2%
Gross profit$11.7M$11.7M$23.3M$29.0M$11.2M$32.5M$38.3M$41.5M$53.2M$69.5M
Gross margin11.9%11.2%18.1%22.8%13.2%23.5%26.9%27.5%33.6%32.9%
Operating income-$11.6M-$9.51M$2.72M$4.88M-$11.4M$8.11M$11.1M$13.4M$20.3M$29.4M
Operating margin-11.7%-9.0%2.1%3.8%-13.4%5.9%7.8%8.9%12.8%14.0%
Net income-$12.5M-$9.98M-$550K$3.58M-$7.64M$6.06M$5.95M$10.5M$8.98M$17.0M
Net margin-12.6%-9.5%-0.4%2.8%-9.0%4.4%4.2%6.9%5.7%8.1%
EPS (diluted)-$1.67-$1.30-$0.07$0.42-$0.94$0.72$0.73$1.30$1.12$2.09

Cash flow

Perma-Pipe International Holdings, Inc. (PPIH) cash flow, annual, from SEC filings
Fiscal yearFY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow-$5.46M-$1.84M$4.98M$4.09M$165K-$2.57M-$1.24M$14.7M$13.9M$9.17M
Capital expenditures$2.26M$2.53M$1.36M$1.90M$1.96M$2.26M$6.97M$11.1M$2.88M$10.4M
Free cash flow-$7.71M-$4.37M$3.62M$2.19M-$1.80M-$4.84M-$8.22M$3.63M$11.1M-$1.27M
Share buybacks————$0.00$1.99M$69.0K$942K$0.00—

Balance sheet

Perma-Pipe International Holdings, Inc. (PPIH) balance sheet, annual, from SEC filings
Fiscal yearFY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash & equivalents$7.60M$7.08M$10.2M$13.4M$7.17M$8.21M$5.77M$5.84M$15.7M$18.7M
Total assets$102M$105M$102M$112M$103M$123M$123M$156M$165M$217M
Long-term debt$7.26M$7.73M$6.75M$6.72M$6.27M$5.06M$4.39M$4.23M$3.67M$4.17M
Shareholders' equity$59.4M$51.2M$51.7M$55.6M$49.3M$54.5M$57.8M$65.7M$72.1M$90.6M
Retained earnings—-$3.74M-$4.29M-$715K-$8.36M-$2.29M$1.62M$12.1M$20.1M$37.1M
Shares (wtd avg diluted)7.49M7.68M7.81M8.42M8.13M8.39M8.12M8.07M8.02M8.15M

Every figure is extracted from Perma-Pipe International Holdings, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.

Common questions

What is Perma-Pipe International Holdings, Inc.'s annual revenue?
Perma-Pipe International Holdings, Inc. (PPIH) reported $211M of revenue for fiscal year 2026 — up 33.2% from $158M in FY2025, per its annual report filed with the SEC.
Is Perma-Pipe International Holdings, Inc. profitable?
Yes — PPIH earned $17.0M of net income in FY2026, a 8.1% net margin, per SEC filings.
What is Perma-Pipe International Holdings, Inc.'s free cash flow?
-$1.27M in FY2026 (operating cash flow $9.17M minus $10.4M of capital expenditures), from the SEC cash-flow statement.
Does PPIH pay a dividend?
Perma-Pipe International Holdings, Inc. reported no cash dividends paid in FY2026, per its SEC cash-flow statement.
Full PPIH analysis — verdict, score & filings →Is PPIH a buy? →

Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.