Expectations trend
FY2028 · fiscal year ending 2028-01-31 · fmp
Perma-Pipe International Holdings Inc (PPIH)
NASDAQIndustrialsIndustrial - MachinerySnapshot 2026-11-05
$27.21-7.61%
Close 2026-11-05 · 1-day change
NASDAQIndustrialsIndustrial - MachinerySnapshot 2026-11-05
The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.
Next-FY EPS estimate change · 30 days
2.49 → 2.49 EPS · FY ending Jan 31, 2028 · 1 analyst
One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.
Change in the same fiscal period’s mean EPS estimate from Oct 6, 2026 to Nov 5, 2026: (new ÷ prior − 1). Contributor count changed from 1 to 1; this is not the number of analysts revising. The ±10% axis is a display range.
The EPS and P/E reference is not available for PPIH yet.
| Measure / period | Management expectations | Analyst expectations |
|---|
Management figures unavailable.
Current consensus figures unavailable.
Three published thesis conditions, with dated milestones shown separately.
| Key Factor | Why It Matters | Current Status | Break Condition | Latest Evidence |
|---|---|---|---|---|
EPS reaches $2.09 for fiscal year 2026 | A primary condition in Perma-Pipe International Holdings Inc's published investment case. The stated target is EPS >= $2.09. | Broken | EPS falls below $1.80 in FY26 | Diluted EPS: $0.31 per share FY2027-Q2; GAAP. Published target: EPS >= $2.09. Annual target cannot be compared with a quarterly or TTM observation. Sep 9, 20260.31 USD/share · source valueLast status assessment Nov 5, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Compare these dated observations with the operating requirements above
FY2028 · fiscal year ending 2028-01-31 · fmp
The evidence, the remaining questions, and what comes next
No recovery evidence is reported in the available driver assessments.
Dec 11, 2026
Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.
Observed price history; separate from operating scenarios
The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.
This is a small-cap industrial growth story, not yet a proven durable compounder. The long-term thesis is on watch: recent revenue and earnings growth are encouraging, but earnings quality is fragile and confidence has eased to medium.
The valuation evidence is mixed: PPIH is described as cheap versus peers, while the peer premium measure points the other way. The expectations gap is negative, and the priced-in assessment says the current fragility is justified rather than unusually concentrated.
Near-term results show growth, with revenue and net income rising year over year in the latest reported quarter, and management’s growth priority remains on track. The Ohio facility is operating but still has start-up costs, while recent performance remains below its industry cohort and earnings surprises have been erratic.
Over the next few quarters, the main company-specific swing factor is whether management sustains growth without cutting guidance. The multi-year view also depends on the Ohio ramp progressing and on industrial-sector bellwethers continuing to support the sector backdrop, rather than weakening.
PPIH has visible growth progress, but the 1-to-3-year thesis remains conditional because execution quality is fragile, risks are elevated, and the sector is a headwind. Not investment advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
| A primary condition in Perma-Pipe International Holdings Inc's published investment case. The stated target is >=8% YoY revenue growth. |
| Intact |
| YoY revenue growth falls below 5% in FY26 |
Revenue growth: 24.35% FY2027-Q2; GAAP. Published target: >=8% YoY revenue growth. Annual target cannot be compared with a quarterly or TTM observation. Sep 9, 202624.351802 percent · calculatedLast status assessment Nov 5, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management contextStated in 3 of 3 supplied quarters. Management reported: “Second Quarter Fiscal 2026 Results Net sales were $59.6 million for the three months ended July 31, 2026, an increase of $11.7 million, or 24.4%, compared to $47.9 million in the same quarter of the prior year.” “Backlog and New Awards Backlog was $142.3 million at July 31, 2026, compared to $136.5 million at April 30, 2026, and $121.6 million at January 31, 2026, and remains well diversified across geographies, customers, and end-markets.” Revenue was $61.148 million in 2026-Q3. Delivery assessment Nov 5, 2026 |
Maintain valuation discount to peers | A supporting condition in Perma-Pipe International Holdings Inc's published investment case. The stated target is PE <= 18. | Intact | PE rises above 20 without earnings growth | P/E (TTM): 11.42x As of 2026-11-05; trailing twelve months. The target timing and basis require a separate assessment. Nov 5, 202611.4227 ratio · calculatedLast status assessment Nov 5, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.
$2.52 → $2.49 · observed estimates
$0.24B → $0.26B · observed estimates
One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.
| Snapshot | EPS | Revenue | EPS / revenue analysts |
|---|---|---|---|
| 2026-07-24 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-07-25 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-07-26 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-07-27 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-07-28 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-07-29 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-07-30 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-07-31 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-01 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-02 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-03 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-04 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-05 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-06 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-07 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-08 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-09 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-10 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-12 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-13 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-14 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-15 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-16 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-17 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-18 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-19 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-20 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-21 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-22 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-23 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-24 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-25 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-26 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-27 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-28 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-29 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-30 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-08-31 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-09-01 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-09-02 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-09-03 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-09-04 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-09-05 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-09-06 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-09-07 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-09-08 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-09-09 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-09-10 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-09-11 | $2.52 | $242,000,000 | 1 / 1 |
| 2026-09-12 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-09-13 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-09-14 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-09-15 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-09-16 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-09-17 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-09-18 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-09-19 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-09-20 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-09-21 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-09-22 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-09-23 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-09-24 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-09-25 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-09-26 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-09-27 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-09-28 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-09-29 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-09-30 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-01 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-02 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-03 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-04 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-05 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-06 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-07 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-08 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-09 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-10 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-11 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-12 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-13 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-14 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-15 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-16 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-17 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-18 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-19 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-20 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-21 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-22 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-23 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-24 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-25 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-26 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-27 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-28 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-29 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-30 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-10-31 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-11-01 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-11-02 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-11-03 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-11-04 | $2.49 | $257,000,000 | 1 / 1 |
| 2026-11-05 | $2.49 | $257,000,000 | 1 / 1 |
Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.
Latest: 1 Buy / Strong Buy · 0 Hold · 0 Sell / Strong Sell
Recent actions · Oct 7–Nov 5 · 0 recorded
Individual price-target observations are unavailable.
0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior
Oct 7, 2026–Nov 5, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.
3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.
The dated weekly assessment and its assumptions are available in Read detailed Outlook.