Perma-Pipe International Holdings (PPIH) Stock Analysis & Winston Score

Perma-Pipe International Holdings, Inc., together with its subsidiaries, engineers, designs, manufactures, and sells specialty piping and leak detection systems. It offers provides and jacketed district heating and cooling piping systems for energy distribution from central energy plants to various locations; and primary and secondary containment piping systems for transporting chemicals, hazardous fluids, and petroleum products, as well as engages in the coating and insulation of oil and gas ga

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+22.5% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+177.3% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

5.7%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~6 months

$19M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

Perma-Pipe International Holdings has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

31.4%

Modest — 31.4% gross margin

Operating Margin

12.6%

Healthy — 12.6% operating margin

ROCE

6.1%

Weak — 6.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+26.0%

Fast-growing sales (26.0% YoY)

EPS YoY

-29.2%

Earnings shrinking (-29.2% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

104%

Turns 104% of profit into real cash

FCF Margin

1.7%

Thin free cash flow (1.7%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.26

Conservative — low debt load (0.26)

Interest Cover

12.55x

Comfortably covers interest (12.5x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

14.6x

no trend

Attractive valuation — P/E 14.6

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

+4.5

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (14.6 → 10.1)

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Dividends

Not applicable for this business.

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