# Perma-Pipe International Holdings, Inc.: overview

PPIH · Nasdaq · CIK 914122 · [Industrials](/sectors/industrials.md) · fiscal year ends Jan 31

Pages: [Overview](/companies/ppih.md) · [Financials](/companies/ppih/financials.md) · [Filings](/companies/ppih/filings.md) · [Insiders](/companies/ppih/insiders.md)

Latest reported revenue: [$59.6m](/filings/0001437749-26-029988.md) for Q2 FY2026, three months to 2026-07-31, from the 10-Q filed Sep 9, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax, accession 0001437749-26-029988).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-10-31) | Q4 FY2024 (2025-01-31) | Q1 FY2025 (2025-04-30) | Q2 FY2025 (2025-07-31) | Q3 FY2025 (2025-10-31) | Q4 FY2025 (2026-01-31) | Q1 FY2026 (2026-04-30) | Q2 FY2026 (2026-07-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [41.6](/filings/0001437749-25-037631.md) | [45.0 d](/filings/0001437749-26-012499.md) | [46.7](/filings/0001437749-26-019930.md) | [47.9](/filings/0001437749-26-029988.md) | [61.1](/filings/0001437749-25-037631.md) | [55.1 d](/filings/0001437749-26-012499.md) | [50.3](/filings/0001437749-26-019930.md) | [59.6](/filings/0001437749-26-029988.md) |
| Gross margin | % | [33.9%](/filings/0001437749-25-037631.md) | [33.7% d](/filings/0001437749-26-012499.md) | [35.8%](/filings/0001437749-26-019930.md) | [30.1%](/filings/0001437749-26-029988.md) | [34.4%](/filings/0001437749-25-037631.md) | [31.4% d](/filings/0001437749-26-012499.md) | [29.1%](/filings/0001437749-26-019930.md) | [29.2%](/filings/0001437749-26-029988.md) |
| Operating margin | % | [13.4%](/filings/0001437749-25-037631.md) | [12.1% d](/filings/0001437749-26-012499.md) | [16.9%](/filings/0001437749-26-019930.md) | [6.7%](/filings/0001437749-26-029988.md) | [18.6%](/filings/0001437749-25-037631.md) | [12.6% d](/filings/0001437749-26-012499.md) | [9.2%](/filings/0001437749-26-019930.md) | [7.1%](/filings/0001437749-26-029988.md) |
| Net margin | % | [6.0%](/filings/0001437749-25-037631.md) | [3.9% d](/filings/0001437749-26-012499.md) | [10.6%](/filings/0001437749-26-029988.md) | [1.8%](/filings/0001437749-26-029988.md) | [10.3%](/filings/0001437749-25-037631.md) | [8.9% d](/filings/0001437749-26-012499.md) | [3.6%](/filings/0001437749-26-029988.md) | [4.3%](/filings/0001437749-26-029988.md) |
| Diluted EPS | $ per share | [0.31](/filings/0001437749-25-037631.md) | not reported | [0.61](/filings/0001437749-26-019930.md) | [0.10](/filings/0001437749-26-029988.md) | [0.77](/filings/0001437749-25-037631.md) | not reported | [0.22](/filings/0001437749-26-019930.md) | [0.31](/filings/0001437749-26-029988.md) |
| Free cash flow | $m | [4.8 d](/filings/0001437749-25-037631.md) | [4.7 d](/filings/0001437749-26-012499.md) | [(0.2)](/filings/0001437749-26-019930.md) | [(4.6) d](/filings/0001437749-26-029988.md) | [12.4 d](/filings/0001437749-25-037631.md) | [(8.8) d](/filings/0001437749-26-012499.md) | [4.9](/filings/0001437749-26-019930.md) | [5.3 d](/filings/0001437749-26-029988.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2022-01-31) | FY2022 (2023-01-31) | FY2023 (2024-01-31) | FY2024 (2025-01-31) | FY2025 (2026-01-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [139](/filings/0001437749-23-011368.md) | [143](/filings/0001437749-24-013321.md) | [151](/filings/0001437749-25-014095.md) | [158](/filings/0001437749-26-012499.md) | [211](/filings/0001437749-26-012499.md) |
| Gross margin | % | [23.5%](/filings/0001437749-23-011368.md) | [26.9%](/filings/0001437749-24-013321.md) | [27.5%](/filings/0001437749-25-014095.md) | [33.6%](/filings/0001437749-26-012499.md) | [32.9%](/filings/0001437749-26-012499.md) |
| Operating margin | % | [5.9%](/filings/0001437749-23-011368.md) | [7.8%](/filings/0001437749-24-013321.md) | [8.9%](/filings/0001437749-25-014095.md) | [12.8%](/filings/0001437749-26-012499.md) | [14.0%](/filings/0001437749-26-012499.md) |
| Net margin | % | [4.4%](/filings/0001437749-23-011368.md) | [4.2%](/filings/0001437749-24-013321.md) | [6.9%](/filings/0001437749-25-014095.md) | [5.7%](/filings/0001437749-26-012499.md) | [8.1%](/filings/0001437749-26-012499.md) |
| Diluted EPS | $ per share | [0.72](/filings/0001437749-23-011368.md) | [0.73](/filings/0001437749-24-013321.md) | [1.30](/filings/0001437749-25-014095.md) | [1.12](/filings/0001437749-26-012499.md) | [2.09](/filings/0001437749-26-012499.md) |
| Free cash flow | $m | [(4.8)](/filings/0001437749-23-011368.md) | [(8.2)](/filings/0001437749-24-013321.md) | [3.6](/filings/0001437749-25-014095.md) | [11.1](/filings/0001437749-26-012499.md) | [(1.3)](/filings/0001437749-26-012499.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/ppih/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [RAYMOND JAMES FINANCIAL INC](/funds/720005.md) | 2026-06-30 | $15.3m | 561,342 |  | Added +52,848 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $11.6m | 424,428 |  | Added +383,941 |
| [DIMENSIONAL FUND ADVISORS LP](/funds/354204.md) | 2026-06-30 | $10.5m | 384,491 |  | Reduced −3,702 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $9.3m | 343,022 |  | Added +19,332 |
| [CALDWELL SUTTER CAPITAL, INC.](/funds/702007.md) | 2026-06-30 | $6.3m | 231,638 |  | Reduced −2,600 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $5.5m | 201,234 |  | Added +107,885 |
| [ROYCE & ASSOCIATES LP](/funds/906304.md) | 2026-06-30 | $5.4m | 196,758 |  | Added +65,817 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $4.7m | 172,338 |  | Added +19,250 |
| [RENAISSANCE TECHNOLOGIES LLC](/funds/1037389.md) | 2026-06-30 | $4.2m | 154,393 |  | Reduced −54,700 |
| [Meros Investment Management, LP](/funds/1911372.md) | 2026-06-30 | $3.6m | 132,163 |  | Added +69,865 |

## Recent filings

[All 669 filings](/companies/ppih/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-09-09 | 16:39 ET | [10-Q](/filings/0001437749-26-029988.md) | Quarterly report, period 2026-07-31 | 0001437749-26-029988 |
| 2026-09-09 | 07:31 ET | [8-K](/filings/0001437749-26-029909.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001437749-26-029909 |
| 2026-08-27 | 07:43 ET | [8-K](/filings/0001437749-26-029064.md) | 1.01 Entry into a material agreement; 1.02 Termination of a material agreement; 2.03 New direct financial obligation; 9.01 Financial statements and exhibits | 0001437749-26-029064 |
| 2026-06-29 | 17:22 ET | [8-K](/filings/0001437749-26-022025.md) | 5.07 Shareholder vote results | 0001437749-26-022025 |
| 2026-06-09 | 08:37 ET | [10-Q](/filings/0001437749-26-019930.md) | Quarterly report, period 2026-04-30 | 0001437749-26-019930 |
| 2026-06-09 | 08:35 ET | [8-K](/filings/0001437749-26-019929.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001437749-26-019929 |
| 2026-05-13 | 08:50 ET | [DEF 14A](/filings/0001437749-26-016549.md) | Proxy statement, period 2026-06-24 | 0001437749-26-016549 |
| 2026-04-16 | 09:04 ET | [8-K](/filings/0001437749-26-012500.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001437749-26-012500 |
| 2026-04-16 | 09:03 ET | [10-K](/filings/0001437749-26-012499.md) | Annual report, period 2026-01-31 | 0001437749-26-012499 |
| 2026-04-14 | 11:13 ET | [8-K](/filings/0001437749-26-012209.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 9.01 Financial statements and exhibits | 0001437749-26-012209 |

## Latest annual report

[Form 10-K for the fiscal year ended Jan 31, 2026](/filings/0001437749-26-012499.md), filed Apr 16, 2026.

## Forecast league

Not in this season’s league. [This season’s league](/leagues.md)

## About the filer

- CIK: 914122
- Tickers: PPIH
- Exchange: Nasdaq
- SIC code: 3564 Industrial & Commercial Fans & Blowers & Air Purifing Equip
- State of incorporation: DE
- Filer category: Accelerated filer<br>Smaller reporting company

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 30, 2026, 13:56 ET. No prices; not investment advice.
