Perma-Pipe International (NASDAQ: PPIH) financial statements
The consolidated income statement, balance sheet and cash flow statement of Perma-Pipe International for its last 10 fiscal years, as filed with the regulator, in millions of US dollars. At the end of fiscal 2026 it had $217.5m in total assets and $90.6m in equity.
Income statement
| Item | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $210.9m | $158.4m | $150.7m | $142.6m | $138.6m | $84.7m | $127.7m | $129.0m | $105.2m | $98.8m |
| Cost of sales | $141.4m | $105.1m | $109.2m | $104.3m | $106.0m | $73.5m | $98.6m | $105.6m | $93.5m | $87.1m |
| Gross profit | $69.5m | $53.2m | $41.5m | $38.3m | $32.5m | $11.2m | $29.0m | $23.3m | $11.7m | $11.7m |
| Operating profit | $29.4m | $20.3m | $13.4m | $11.1m | $8.1m | −$11.4m | $4.9m | $2.7m | −$9.5m | −$11.6m |
| Finance costs | $2.1m | $2.2m | $2.4m | $2.2m | $0.9m | $0.6m | $1.1m | $1.3m | $0.8m | $0.7m |
| Profit before tax | $27.5m | $18.5m | $9.9m | $9.6m | $8.3m | −$7.8m | $5.0m | $1.6m | −$10.2m | −$13.8m |
| Income tax | $6.8m | $5.4m | $3.3m | $3.6m | $2.3m | $0.1m | $1.5m | $2.2m | $0.2m | $0.6m |
| Net profit | $17.0m | $9.0m | $10.5m | $5.9m | $6.1m | −$7.6m | $3.6m | −$0.6m | −$10.0m | −$12.5m |
| Earnings per share | $2.12 | $1.13 | $1.31 | $0.75 | $0.75 | −$0.94 | $0.45 | −$0.07 | — | — |
| Diluted earnings per share | $2.09 | $1.12 | $1.30 | $0.73 | $0.72 | −$0.94 | $0.43 | −$0.07 | −$1.30 | −$1.67 |
| Depreciation and amortisation | $4.9m | $3.6m | $3.8m | $3.6m | $4.3m | $4.7m | $4.4m | $4.6m | $5.0m | $5.5m |
Balance sheet
| Item | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $217.5m | $165.2m | $155.7m | $123.0m | $123.4m | $102.7m | $112.2m | $102.2m | $104.6m | $101.6m |
| Current assets | $146.7m | $108.8m | $98.8m | $85.7m | $78.4m | $53.9m | $64.3m | $63.0m | $62.3m | $57.8m |
| Inventories | $18.1m | $16.6m | $15.5m | $14.7m | $13.8m | $12.2m | $14.5m | $12.3m | $16.9m | $13.6m |
| Property, plant and equipment | $44.1m | $35.4m | $37.6m | $26.5m | $24.8m | $26.9m | $28.6m | $30.4m | $34.5m | $36.3m |
| Goodwill | $2.2m | $2.1m | $2.2m | $2.2m | $2.3m | $2.3m | $2.3m | $2.3m | $2.4m | $2.3m |
| Cash | $18.7m | $15.7m | $5.8m | $5.8m | $8.2m | $7.2m | $13.4m | $10.2m | $7.1m | $7.6m |
| Current liabilities | $79.8m | $54.1m | $57.7m | $43.8m | $38.4m | $28.3m | $32.8m | $37.1m | $39.2m | $28.0m |
| Equity | $90.6m | $72.1m | $65.7m | $57.8m | $54.5m | $49.3m | $55.6m | $51.7m | $51.2m | $59.4m |
| Equity including minorities | $90.6m | $72.1m | $65.7m | $57.8m | $54.5m | $49.3m | $55.6m | $51.7m | $51.8m | $59.4m |
| Minority interests | — | — | — | — | — | — | — | — | $0.6m | $0.0m |
Cash flow statement
| Item | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $9.2m | $13.9m | $14.7m | −$1.2m | −$2.6m | $0.2m | $4.1m | $5.0m | −$1.8m | −$5.5m |
| Investing cash flow | −$10.4m | −$2.8m | −$11.1m | −$6.4m | −$2.3m | −$2.0m | −$1.9m | −$1.4m | −$2.4m | $10.2m |
| Financing cash flow | $6.6m | −$0.9m | −$3.3m | $4.5m | $6.2m | −$4.1m | −$0.3m | $1.1m | $3.5m | −$14.9m |
| Capital expenditure | −$10.4m | −$2.9m | −$11.1m | −$7.0m | −$2.3m | −$2.0m | −$1.9m | −$1.4m | −$2.5m | −$2.3m |
Where each figure comes from
From the annual report (Form 10-K) that Perma-Pipe International files with the SEC. The filing for each fiscal year: 2026 · 2025 · 2024 · 2023 · 2022 · 2021 · 2020 · 2019 · 2018 · 2017. If an item is not tagged in the filing, it is not in the table. The summary of the last fiscal year is on the Perma-Pipe International page.
Information prepared from the accounts the company files with the regulator, for information purposes only. It is not financial advice or a recommendation to buy or sell. Updated on 12 November 2026.