Perma-Pipe International Holdings, Inc.
$32.26
-1.1%Perma-Pipe International Holdings, Inc., together with its subsidiaries, engineers, designs, manufactures, and sells specialty piping and leak detection systems. It offers provides and jacketed district heating and cooling piping systems for energy distribution from central energy plants to various locations; and primary and secondary containment piping systems for transporting chemicals, hazardous fluids, and petroleum products, as well as engages in the coating and insulation of oil and gas gathering and transmission pipelines. The company also offers liquid and powder based anti-corrosion coatings for external and internal surfaces of steel pipe, including shapes like bends, reducers, tees, and other spools/fittings that is used in pipelines for the transportation of oil and gas products and potable water. It has operations in the United States, Canada, the Middle East, Europe, India, and internationally. The company was formerly known as MFRI, Inc. and changed its name to Perma-Pipe International Holdings, Inc. in March 2017. Perma-Pipe International Holdings, Inc. was incorporated in 1993 and is headquartered in Niles, Illinois.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
High confidenceValuation multiple is mid-range (P/E 15.2).
Valuation inputs: P/E 15.2, earnings yield +6.6%, momentum -1.1%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is strong (ROE +18.8%, ROIC +13.9%).
Profitability stack: net margin +8.1%, ROE +18.8%, ROIC +13.9%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceRisk profile is balanced but has notable pressure points to monitor.
Risk factors: liabilities/assets +51.1%, momentum -1.1%, net margin +8.1%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
Perma-Pipe International Holdings, Inc. Market vs Earnings Trajectory
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Perma-Pipe International Holdings, Inc. Fair Value Envelope
Perma-Pipe International Holdings, Inc. Profit Bridge
Profitability Analysis
Gross Margin
Moderate margins typical of competitive industries. Monitor for pricing pressure or rising costs.
Operating Margin
Acceptable margins but limited operational leverage. Operating expense control is important.
Net Profit Margin
Moderate profitability with room for improvement. Monitor interest expenses and tax efficiency.
Effective Tax Rate
Moderate tax rate typical for most corporations. Represents standard tax burden on profits.
Profitability Insight
Room for improvement: Moderate profitability with opportunities to enhance margins through better cost management or pricing strategy.
Perma-Pipe International Holdings, Inc. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Negative free cash flow despite positive earnings raises concerns about cash generation ability or heavy capital requirements.
CapEx Intensity
Very high capital intensity consumes most operating cash flow. Limited flexibility for dividends or debt reduction.
FCF Growth Trend
Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.
Working Capital Impact
Significant working capital drain. Growth may be consuming cash through inventory buildup or receivables extension—monitor closely.
Cash Flow Quality Insight
Cash flow concerns: Despite profitability, the company is burning cash. Review working capital management, CapEx levels, and sustainability of current operations.
Perma-Pipe International Holdings, Inc. Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Strong liquidity. The company has adequate resources to meet short-term liabilities.
Debt-to-Equity Ratio
Elevated leverage. Debt exceeds equity, which amplifies both gains and risks. Monitor debt servicing ability.
Working Capital
Strong working capital position provides significant operational flexibility and financial cushion.
Asset Composition
Asset-light business model with high liquidity. Majority of assets are easily convertible to cash.
Perma-Pipe International Holdings, Inc. Street Expectations Map
Wall Street analysts project that PPIH stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 36.00, with estimates ranging from a low of 36.00 to a high of 36.00.
The consensus 1-year price target stands at 36.00, with estimates ranging from a low of 36.00 to a high of 36.00.
Analyst Consensus Analysis
Upside Potential
Moderate upside. Analysts expect positive returns but with limited margin of safety. Consider entry timing.
Analyst Agreement
High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.
Analyst Conviction
Positive outlook with reasonable agreement. Analysts generally optimistic about prospects with manageable uncertainty.
Market Sentiment Insight
Monitor and evaluate: Current analyst consensus suggests limited conviction or near-term catalysts. Stay informed on company developments and reassess positioning as new information emerges.
Perma-Pipe International Holdings, Inc. Insider Positioning
During the last 12 months, insiders have sold $539K worth of PPIH shares, with no buying activity reported.
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22.6K
538.86K
-539K
-$539K
Top Buyers
No buying activity
Top Sellers
Mansfield David J
Other: Former President & Ceo
$509K
Lewicki Matthew Earl
Officer: Chief Financial Officer
$30K
Insider Activity Analysis
Net Insider Sentiment
Strong bearish signal with $539K net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.
Buy/Sell Ratio
Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.
Insider Participation
2 insider sellers vs. 0 buyers. Widespread selling across multiple insiders may signal concerns.
No Dividend Yield Data
PPIH has not reported any dividend yield values in the available annual periods.
ppih Dividend History
Learning Layer
Related Guides
Build conviction on PPIH by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.