Perma-Pipe International Holdings Inc (PPIH) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Perma-Pipe International Holdings Inc stock $27.69, price $28.42, that is 2.6% below the price, quality 51 out of 100. Rating: fairly valued. Calculated from audited financials with 15 of our 26 valuation models and 37 quality factors, updated daily.
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Perma-Pipe International Holdings Inc
PPIH · USThe stock costs about what our calculation considers fair.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range $6.22 – $35.29 · fair‑value band $23.75 – $31.66 · the $28.42 price screens above the $27.69 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 6, 2026.
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Company profile
Perma-Pipe International Holdings, Inc., together with its subsidiaries, designs, engineers, manufactures, and sells specialty piping and leak detection systems in the United States, Canada, the United Arab Emirates, Saudi Arabia, and internationally.
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The company offers insulated and jacketed district heating and cooling piping systems for energy distribution from central energy plants to other locations; and primary and secondary containment piping systems for transporting chemicals, hazardous fluids, and petroleum products.
It also provides coating and insulation of oil and gas gathering and transmission pipelines; liquid and powder based anti-corrosion coatings for external and internal surfaces of steel pipe, including shapes comprising bends, reducers, tees, and other spools/fittings used in pipelines for the transportation of oil and gas products and potable water.
In addition, the company offers cables, leak detection products, heat trace products, and material/goods not bundled with piping or flowline systems. Further, it provides containment systems, custom fabrications, and leak detection, as well as technical support, field service, and logistics services.
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 founded in 1909 and is headquartered in The Woodlands, Texas.
Stock analysis
Perma-Pipe International Holdings Inc (PPIH) currently trades at $28.42, while our model-based Fair Value estimate is $27.69, so the stock looks roughly fairly valued today (gap 2.6%).
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Valuation
Bull case: the Multiples group reads highest at a median of $43.27 per share, and 7 of the 15 models we run sit above the $28.42 price.
Bear case: the DCF Models group reads lowest at $4.90, and 8 of the 15 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $23.75 (bear) to $31.66 (bull), the price of $28.42 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 51/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Perma-Pipe International Holdings Inc reported revenue of $211M in FY2026 versus $139M in FY2022, a compound +11.1%/yr. Reported net income was $17.0M in FY2026, compounding +29.5%/yr from FY2022.
Key figures
Market cap $235M Micro · P/E ratio 15.0 · P/S ratio 1.04 · EPS (TTM) $1.90 · Net margin 6.9% · Return on equity 19.1% · Return on assets (EBIT) 10.0% (5-year average) · Operating margin 7.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 19% below its 52-week high and 23% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at −3%, PPIH screens cheaper than that median.
Fair Value models
All 15 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Insider trades
In the last 6 months, no officer or director bought or sold shares on the open market.
Plus 9 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Source: SEC Form 4, as of Nov 6, 2026. All filings at the SEC ↗
Revenue & earnings trend
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Compare Perma-Pipe International Holdings Inc with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Building Products & Equipment · 255 stocks
Valuation Multiplesvs Building Products & Equipment median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Revenue growth by industry
- PEG ratio by industry
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Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Building Products & Equipment stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Compagnie de Saint-Gobain S.A SGO | €74.10 | €93.79 | +27% | vs PPIH |
| Carlisle Companies Incorporated CSL | $375.74 | $347.14 | −8% | vs PPIH |
| Madison Air Solutions Corporation MAIR | $23.04 | $20.32 | −12% | vs PPIH |
| Kingspan Group KRX | €95.15 | €68.99 | −27% | vs PPIH |
| Masco Corporation MAS | $82.22 | $56.97 | −31% | vs PPIH |
| Trane Technologies plc TT | $401.76 | $223.94 | −44% | vs PPIH |
| Johnson Controls International plc JCI | $135.03 | $73.99 | −45% | vs PPIH |
| Geberit AG GEBN | CHF 580.00 | CHF 303.40 | −48% | vs PPIH |
| Carrier Global Corporation CARR | $52.38 | $19.35 | −63% | vs PPIH |
| BELIMO Holding BEAN | CHF 727.00 | CHF 236.88 | −67% | vs PPIH |
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Key figures of Perma-Pipe International Holdings Inc
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