Valuation, from the filing
| Public float | $174.85M | Market value of stock held by non-affiliates, as stated on the cover page for 2025-07-31 |
|---|---|---|
| Float per share | $21.52 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 10.3× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 0.8× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 1.9× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-07-31, not today, and each multiple below it uses the figures for the fiscal year ending 2026-01-31 — the year that filing covered.
Valuation over time
10.3× earnings today, against a median of 9.5× across 6 years on record. In line with its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-07-31 | $174.85M | 10.3× | |
| 2024-07-31 | $71.63M | 8.0× | |
| 2023-07-31 | $58.71M | 5.6× | |
| 2022-07-29 | $70.33M | 11.8× | |
| 2021-07-31 | $53.41M | 8.8× | |
| 2019-07-31 | $68.95M | 19.3× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
Perma-Pipe International Holdings, Inc. (PPIH) reported revenue of $226.11M and net income of $15.58M for the fiscal year ended 2026-07-31. This page shows 1 annual period of income statement, balance sheet and cash flow figures normalized from Perma-Pipe International Holdings, Inc.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Industrial & Commercial Fans & Blowers & Air Purifing Equip.
Income
| Metric | 2026-07-31 |
|---|---|
| Revenue | $226.11M |
| Cost of revenue | $155.72M |
| Gross profit | $70.38M |
| Operating income | $27.26M |
| Net income | $15.58M |
| Research & development | Unavailable |
| Weighted-average diluted shares | Unavailable |
| Pretax income | $25.09M |
| Income tax expense | $5.71M |
| Diluted EPS | Unavailable |
| Selling, general & administrative | Unavailable |
| General & administrative | $38.22M |
| Selling & marketing | Unavailable |
Balance
| Metric | 2026-07-31 |
|---|---|
| Cash & equivalents | $31.78M |
| Total assets | $232.63M |
| Current assets | $153.55M |
| Total liabilities | Unavailable |
| Current liabilities | $70.13M |
| Total equity incl. NCI | $93.49M |
| Temporary (mezzanine) equity | $17.51M |
| Inventory | $19.07M |
| Accounts receivable | $48.79M |
| Goodwill | $2.13M |
| Long-term debt | $29.98M |
| Accounts payable | $35.66M |
Cash flow
| Metric | 2026-07-31 |
|---|---|
| Operating cash flow | $23.82M |
| Capital expenditures | $10.18M |
| Investing cash flow | -$10.10M |
| Financing cash flow | $2.81M |
| Net change in cash | $16.05M |
| Stock-based compensation | $1.26M |
| Common dividends paid | Unavailable |
| Common share repurchases | Unavailable |
| Depreciation & amortization | $6.25M |
Derived
| Metric | 2026-07-31 |
|---|---|
| Free cash flow | $13.65M |
| Gross margin | 31.1% |
| Operating margin | 12.1% |
| FCF margin | 6.0% |
| SBC / revenue | 0.6% |
| Current ratio | 2.19x |
| Revenue YoY growth | 24.8% |
| Net margin | 6.9% |
| R&D / revenue | Unavailable |
| CapEx / revenue | 4.5% |
| Long-term debt / equity | 0.32x |
| Effective tax rate | 22.7% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open PPIH in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.