PPIH
Perma-Pipe International Holdings, Inc.
PPIH has lower modeled downside risk, despite its lower overall score.
RDW
Redwire Corporation
RDW has a slight edge over PPIH overall, supported by stronger modeled upside and stronger valuation.
PPIH Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Strong |
PPIH's revenue, profitability, cash flow and balance sheet are all currently healthy.
RDW Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Unavailable |
RDW's revenue is currently healthy, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
PPIH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.3x | $15.87 | -45% |
| Fair | 15x | $28.42 | -1.2% |
| Current | 15x | $28.77 | — |
| Expensive | 19x | $36.96 | +28% |
Historical ranges are pointers, not guarantees.
PPIH's PE is in its fair range at 15x.
RDW PE Valuation
RDW has no meaningful PE right now: it lost money over the past year.
PPIH Forward outlook
There aren't enough analyst estimates for PPIH to show an outlook.
RDW Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect RDW's losses to shrink, with revenue growing.
PPIH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $1.91 | +53% |
| Q2 2026 | $1.70 | +9.7% |
| Q1 2026 | $2.09 | +87% |
| Q4 2025 | $1.71 | -13% |
| Q3 2025 | $1.25 | -34% |
| Q2 2025 | $1.55 | -4.3% |
| Q1 2025 | $1.12 | -14% |
| Q4 2024 | $1.96 | +211% |
PPIH has the edge over RDW on earnings quality, reporting a profit while its opponent remains loss making.
RDW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.17 | +$2.01 |
| Q2 2026 | -$1.37 | +$1.89 |
| Q1 2026 | -$2.59 | -$0.32 |
| Q4 2025 | -$2.28 | +$0.07 |
| Q3 2025 | -$3.18 | -$1.97 |
| Q2 2025 | -$3.26 | -$2.28 |
| Q1 2025 | -$2.27 | -$1.55 |
| Q4 2024 | -$2.35 | -$1.62 |
RDW is still losing money, but far less than before: $1.17 per share over the past year, against $3.26 at its worst in mid-2025.
PPIH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $59.6M | +24% |
| Q2 2026 | $50.3M | +7.5% |
| Q1 2026 | $55.1M | +23% |
| Q4 2025 | $61.1M | +47% |
| Q3 2025 | $47.9M | +28% |
| Q2 2025 | $46.7M | +36% |
| Q1 2025 | $45M | +12% |
| Q4 2024 | $41.6M | -9% |
PPIH's revenue has grown year over year for seven quarters in a row: $60M last quarter, up 24% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 7.1% | +0.5 points |
| Q2 2026 | 9.2% | -7.6 points |
| Q1 2026 | 13% | +0.6 points |
| Q4 2025 | 19% | +5.2 points |
| Q3 2025 | 6.7% | -9.7 points |
| Q2 2025 | 17% | +7.7 points |
| Q1 2025 | 12% | +0.8 points |
| Q4 2024 | 13% | +0.2 points |
PPIH has the edge over RDW on profitability, with a higher operating margin.
RDW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $109M | +5.4% |
| Q2 2026 | $117.1M | +90% |
| Q1 2026 | $97M | +58% |
| Q4 2025 | $108.8M | +56% |
| Q3 2025 | $103.4M | +51% |
| Q2 2025 | $61.8M | -21% |
| Q1 2025 | $61.4M | -30% |
| Q4 2024 | $69.6M | +9.6% |
RDW's revenue has grown year over year for five quarters in a row: $109M last quarter, up 5.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -24% | +16 points |
| Q2 2026 | -19% | +130 points |
| Q1 2026 | -72% | -49 points |
| Q4 2025 | -75% | -48 points |
| Q3 2025 | -40% | -22 points |
| Q2 2025 | -149% | -140 points |
| Q1 2025 | -23% | -19 points |
| Q4 2024 | -27% | -17 points |
RDW's operating margin was −24% last quarter, up 16 points from the same quarter a year ago.
PPIH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $5.3M | +$9.9M |
| Q2 2026 | $4.9M | +$5.1M |
| Q1 2026 | -$8.8M | -288% |
| Q4 2025 | $12.4M | +155% |
| Q3 2025 | -$4.6M | -311% |
| Q2 2025 | -$194K | +$468K |
| Q1 2025 | $4.7M | +12% |
| Q4 2024 | $4.8M | +81% |
PPIH has the edge over RDW on cash generation, producing positive trailing cash flow while its opponent burns cash.
RDW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$65.3M | -$38.5M |
| Q2 2026 | -$33.5M | +$57.2M |
| Q1 2026 | -$11.4M | +$35.5M |
| Q4 2025 | -$26.5M | -659% |
| Q3 2025 | -$26.9M | -$7.6M |
| Q2 2025 | -$90.6M | -$80.2M |
| Q1 2025 | -$46.9M | -3996% |
| Q4 2024 | $4.7M | -65% |
RDW has burned cash in most quarters: −$137M over the past year, against −$160M the year before.
PPIH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +18K shares |
| 1 year | +1.6% | +127K shares |
| 3 years | +1.5% | +121K shares |
| 5 years | -0.7% | -61K shares |
| Available history | +2.8% | +223K shares |
PPIH has the edge over RDW on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q1 2025 | — |
| Q4 2024 | — |
| Q1 2024 | $1,000 |
| Q4 2023 | $629,000 |
| Q1 2023 | $26,000 |
| Q4 2022 | — |
| Q1 2022 | $1.5M |
RDW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +13% | +29.6M shares |
| 1 year | +179% | +160M shares |
| 3 years | +289% | +186M shares |
| 5 years | +319% | +190M shares |
RDW has 250M diluted shares, up 179% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
PPIH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.1x | Very low |
| Q2 2026 | 0.0x | Very low |
| Q1 2026 | -0.4x | Net Cash |
| Q4 2025 | 1.0x | Healthy |
| Q3 2025 | -0.5x | Net Cash |
| Q2 2025 | -0.5x | Net Cash |
| Q1 2025 | 0.3x | Very low |
| Q4 2024 | -0.2x | Net Cash |
PPIH's net debt is less than a year of its operating earnings (EBITDA), after holding more cash than debt a year ago.
RDW Net Leverage
RDW's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
PPIH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.7 | Neutral |
| Stochastic | 54.0 | Neutral |
PPIH's weekly RSI is 50 (neutral) and its Stochastic is 54 (neutral).
RDW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.3 | Neutral |
| Stochastic | 16.1 | Oversold |
RDW's weekly RSI is 42 (neutral) and its Stochastic is 16 (oversold).
PPIH PE vs Industrials Sector
| Metric | PPIH | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 24x | 37% below |
| PE % | 52 | 58 | 6 pts below |
PPIH is trading at 15x earnings, a 37% discount to the Industrials sector's median of 24x.
RDW PE vs Industrials Sector
RDW has no meaningful PE right now: it lost money over the past year.
PPIH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $29.7 | 3.3% below |
| 20 week MA | $28.0 | 2.6% above |
| 50 week MA | $29.7 | 3.2% below |
| 100 week MA | $24.6 | 17% above |
| 200 week MA | $17.1 | 68% above |
PPIH has the edge over RDW on trend strength, trading above more of its moving averages.
RDW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $9.06 | 11% below |
| 20 week MA | $10.1 | 20% below |
| 50 week MA | $10.6 | 24% below |
| 100 week MA | $11.6 | 31% below |
| 200 week MA | $8.07 | 0.5% below |
RDW is in a downtrend: it's below all five of its weekly moving averages, and 0.5% below its 200-week average.
PPIH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $9.25 | $6.10 | -34% |
| 2021 | $6.10 | $8.11 | +33% |
| 2022 | $8.11 | $8.95 | +10% |
| 2023 | $8.95 | $7.94 | -11% |
| 2024 | $7.94 | $15.9 | +100% |
| 2025 | $15.9 | $33.0 | +107% |
| 2026 YTD | $33.0 | $28.8 | -13% |
PPIH has finished higher in four of the last six years, two of them by more than 50%. It's down 13% so far in 2026.
RDW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $10.2 | $7.34 | -28% |
| 2022 | $7.34 | $1.92 | -74% |
| 2023 | $1.92 | $2.85 | +48% |
| 2024 | $2.85 | $17.1 | +501% |
| 2025 | $17.1 | $7.15 | -58% |
| 2026 YTD | $7.15 | $8.03 | +12% |
RDW has the edge over PPIH on returns for 2026, with the stronger performance.