Perma-Pipe International Holdings (PPIH) Fair Value & Analysis
Industrials · US · Market cap $230M
Perma-Pipe International Holdings
PPIH · US
Fair value as of: Jul 21, 2026
From 15 valuation models · updated 21 days ago
Share price +8.1% over the past month.
A solid business, currently priced close to our fair value.
What matters now
- The model range is unusually wide ($14.26 to $43.72). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.
How to read this chart
60‑month range $5.99 – $35.29 · fair‑value band $14.26 – $43.72 · the $26.45 price screens below the $26.90 fair value. Dashed = 300-day average. As of Jul 21, 2026.
Analysis
Perma-Pipe International Holdings (PPIH) currently trades at $26.45, while our model-based Fair Value estimate is $26.90, implying the stock looks roughly 1.7% fairly valued today. The Quality Score stands at 51/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.
Over the trailing twelve months, Perma-Pipe International Holdings generated revenue of $214M at a net margin of 6.5%. Revenue grew 7.5% year over year. It earns a return on equity of 17.5%. Net debt stands at $28.1M. Fundamentals as of Jul 21, 2026
Our scenario range runs from $14.26 (bear case) to $43.72 (bull case); at $26.45, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 28% below its 52-week high and 26% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -33% fair-value upside, at 2%, PPIH screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 15 models by family
Widest divergence: Multiples ($44.03) versus Asset-Based ($7.47). Highest evidence: Residual Income (76).
Notify me when PPIH reaches fair value
Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 52 · Market factors (momentum, volatility) 41
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
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.
Full company description
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. 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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Perma-Pipe International Holdings 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.
Watch PPIH: get an alert when its fair value changes →
Peer Group
Building Products & Equipment · 247 stocks
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.
Valuation Multiples vs Building Products & Equipment median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 30/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Building Products & Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Trane Technologies plc TT | $469.98 | $212.34 | -55% |
| Johnson Controls International plc JCI | $142.81 | $45.65 | -68% |
| Carrier Global Corporation CARR | $68.61 | $17.35 | -75% |
| Compagnie de Saint-Gobain S.A SGO | €76.62 | €101.60 | +33% |
| Geberit AG GEBN | CHF 523.20 | CHF 307.66 | -41% |
| Lennox International Inc LII | $543.93 | $363.09 | -33% |
| Kingspan Group KRX | €87.30 | €70.76 | -19% |
| Masco Corporation MAS | $78.04 | $54.36 | -30% |
| PT Impack Pratama Industri Tbk, IMPC | 1,420 IDR | 179.76 IDR | -87% |
| NIBE Industrier AB NIBEB | kr 36.03 | kr 25.37 | -30% |
Compare Perma-Pipe International Holdings with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Industrials stocks →
Frequently asked questions
Is Perma-Pipe International Holdings (PPIH) overvalued or undervalued?
What is the fair value of PPIH?
What is the quality score of PPIH?
What is the revenue of Perma-Pipe International Holdings (PPIH)?
What is the net profit margin of PPIH?
How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
Track Perma-Pipe International Holdings and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.