# Perma-Pipe International Holdings, Inc. (PPIH) · Edgar & Edgarette company card

> Perma-Pipe International Holdings (PPIH) grew revenue 33.2% in FY2026 to $211 million, operating margin 14.0%, in line with the 13.5% median for industrial & commercial fans & blowers & air purifing equip, equity 41.7% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 914122 · fiscal year ended 2026-01-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/PPIH) · [JSON](https://www.pops4.com/boards/company/PPIH.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $211M |
| Revenue growth, 1 year | 33.2% |
| Revenue growth per year | 11.1% |
| Operating margin | 14.0% (prior year 12.8%) |
| Net margin | 9.8% |
| Operating cash flow | $9M |
| Capital spending | $10M |
| Free cash flow | −$1M |
| Cash | $19M |
| Long-term debt | $4M |
| Total assets | $217M |
| Total equity | $91M |
| Equity ÷ assets | 41.7% |
| Return on equity | 22.8% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: 4.24 (safe zone)
- Piotroski F: 5 of 9 (middling)
- Health Harbor boat: Weathered boat · two warning signs · free cash flow was negative: capital spending outran operating cash (-$1.3M in FY2026); revenue is hard to predict: its 80% range is ±27%
- Cash Compass: In between · no clear cash pattern yet

## Edgarette's reading

Exposure: revenue $210.9M (FY2026), total debt $4.2M. Experience: revenue up 33.2% on the year, up 11.1% a year over 4 years; operating margin 14.0%, up from 12.8%. Soundness: equity 41.7% of assets, return on equity 22.8%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $194.7M and $336.7M next year (method v4.1: its own 5-year record of growth weighed at 57% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $169.5M to $388.9M. A statistical range, not company guidance. Against peers (23 filers, $50M+ revenue, its industry group): operating margin 14.0% against a 13.5% median; growth 33.2% against 5.8%.

Range logged 2026-09-29, receipt 0307e0eb8cfb7a69, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 3, latest 2026-04-07 ([filing](https://www.sec.gov/Archives/edgar/data/914122/000143774926011548/0001437749-26-011548-index.htm))

## Recent filings

- 10-Q · filed 2026-09-09 · [filing](https://www.sec.gov/Archives/edgar/data/914122/000143774926029988/0001437749-26-029988-index.htm)
- 8-K · filed 2026-09-09 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/914122/000143774926029909/0001437749-26-029909-index.htm)
- 8-K · filed 2026-08-27 · 1.01 Entry into a Material Definitive Agreement; 1.02 Termination of a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/914122/000143774926029064/0001437749-26-029064-index.htm)
- 8-K · filed 2026-06-29 · 5.07 Submission of Matters to a Vote of Security Holders · [filing](https://www.sec.gov/Archives/edgar/data/914122/000143774926022025/0001437749-26-022025-index.htm)
- 10-Q · filed 2026-06-09 · [filing](https://www.sec.gov/Archives/edgar/data/914122/000143774926019930/0001437749-26-019930-index.htm)
- 8-K · filed 2026-06-09 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/914122/000143774926019929/0001437749-26-019929-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0000914122.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=914122

## Cite

POPS4, Edgar & Edgarette: Perma-Pipe International Holdings, Inc. (PPIH) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/PPIH. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.