Perma-Pipe International Holdings, Inc. (PPIH)

Industrial & Commercial Fans & Blowers & Air Purifing Equip

Latest Price

$29.70

TTM P/E

15.63

Normalized P/E

24.11

TTM Div Yield

Fwd Div Yield

Book Value

11.41

P/B Ratio

2.60

Valuation metrics

EPS: $2.09

Book value / share: $11.16

Formula: √(22.5 × EPS × BVPS)

Graham Number

$22.91

22% downside

Norm. op. income: $11M (median of 7yr)

Tax rate: 29%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$8.04

72% downside

Base FCF: $7M (median of recent 5yr)

Growth: 5%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$13.71

53% downside

EPS: $2.09

Target P/E: 24×

Formula: EPS × P/E

P/E Fair Value

$50.16

+72% upside

51.6% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
Raymond James Financial Inc	561.3K	$15.0M	6.85%	+52.8K	2026-06-30
BlackRock, Inc.	424.4K	$11.0M	5.18%	+383.9K	2026-06-30
Dimensional Fund Advisors LP	384.5K	$10.0M	4.69%	-3.7K	2026-06-30
Vanguard Capital Management LLC	343.0K	$9.0M	4.19%	+19.3K	2026-06-30
Caldwell Sutter Capital, Inc.	231.6K	$6.0M	2.83%	-2.6K	2026-06-30
Geode Capital Management, LLC	201.2K	$5.0M	2.46%	+107.9K	2026-06-30
Wedbush Securities Inc	196.9K	$5.0M	2.40%	+550	2026-06-30
Royce & Associates LP	196.8K	$5.0M	2.40%	+65.8K	2026-06-30
Morgan Stanley	172.3K	$4.0M	2.10%	+19.3K	2026-06-30
Renaissance Technologies LLC	154.4K	$4.0M	1.88%	-54.7K	2026-06-30