PPIH
Perma-Pipe International Holdings, Inc.
PPIH trails on the overall score without a compensating advantage in the available component scores.
VRT
Vertiv Holdings Co
VRT has the edge over PPIH overall, supported by stronger valuation and stronger modeled upside.
PPIH Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Strong |
PPIH's revenue, profitability, cash flow and balance sheet are all currently healthy.
VRT Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
VRT's revenue, profitability, cash flow and balance sheet are all currently strong.
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.
VRT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 23x | $210 | — |
| Current | 39x | $210 | — |
| Cheap | 58x | $308 | +47% |
| Fair | 72x | $383 | +83% |
| Expensive | 88x | $472 | +125% |
Historical ranges are pointers, not guarantees.
VRT has the edge over PPIH in the historical PE scenario, which offers more potential upside but is not a forecast.
PPIH Forward outlook
There aren't enough analyst estimates for PPIH to show an outlook.
VRT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Moderate |
Analysts expect strong earnings and revenue growth for VRT, with profitability improving.
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 earned $1.91 per share over the past year, up 53% from the year before.
VRT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.14 | +71% |
| Q3 2026 | $5.35 | +102% |
| Q2 2026 | $4.42 | +111% |
| Q1 2026 | $3.98 | +131% |
| Q4 2025 | $3.41 | +166% |
| Q3 2025 | $2.65 | +75% |
| Q2 2025 | $2.09 | +62% |
| Q1 2025 | $1.72 | +64% |
| Q4 2024 | $1.28 | +7.6% |
VRT has the edge over PPIH on earnings, with more consistent year-over-year improvement.
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's operating margin was 7.1% last quarter, about level with the same quarter a year ago.
VRT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.3B | +61% |
| Q2 2026 | $3.3B | +24% |
| Q1 2026 | $2.6B | +30% |
| Q4 2025 | $2.9B | +23% |
| Q3 2025 | $2.7B | +29% |
| Q2 2025 | $2.6B | +35% |
| Q1 2025 | $2B | +24% |
| Q4 2024 | $2.3B | +26% |
VRT has the edge over PPIH on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 23% | +3.5 points |
| Q2 2026 | 19% | +2.7 points |
| Q1 2026 | 17% | +2.3 points |
| Q4 2025 | 20% | +0.7 points |
| Q3 2025 | 19% | +1.4 points |
| Q2 2025 | 17% | -0.4 points |
| Q1 2025 | 14% | +1.9 points |
| Q4 2024 | 19% | +4.2 points |
VRT has the edge over PPIH on profitability, with a higher operating margin.
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 generated $14M in free cash flow over the past year, up 187% from the year before.
VRT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $654.9M | +41% |
| Q2 2026 | $926.5M | +233% |
| Q1 2026 | $654.2M | +145% |
| Q4 2025 | $885.6M | +143% |
| Q3 2025 | $463.5M | +36% |
| Q2 2025 | $277.9M | -19% |
| Q1 2025 | $266.8M | +162% |
| Q4 2024 | $364.5M | +18% |
VRT has the edge over PPIH on cash flow, with more consistent year-over-year improvement.
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 8M diluted shares, up 1.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2025 | — |
| Q4 2024 | — |
| Q1 2024 | $1,000 |
| Q4 2023 | $629,000 |
| Q1 2023 | $26,000 |
| Q4 2022 | — |
| Q1 2022 | $1.5M |
VRT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -64.9K shares |
| 1 year | +0.4% | +1.8M shares |
| 3 years | +1.1% | +4.4M shares |
| 5 years | +10% | +36M shares |
| Available history | +63% | +152M shares |
VRT has the edge over PPIH on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | $599.9M |
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.
VRT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.8x | Very low |
| Q2 2025 | 0.7x | Very low |
| Q1 2025 | 0.8x | Very low |
| Q4 2024 | 1.0x | Healthy |
VRT has the edge over PPIH on leverage, with a lower net debt burden relative to earnings.
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).
VRT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.0 | Neutral |
| Stochastic | 26.4 | Neutral |
VRT's weekly RSI is 43 (neutral) and its Stochastic is 26 (neutral).
PPIH PE vs Industrials Sector
| Metric | PPIH | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 24x | 37% below |
| PE % | 52 | 58 | 6 pts below |
PPIH has the edge over VRT on valuation relative to its sector.
VRT PE vs Industrials Sector
| Metric | VRT | Sector median | Relative |
|---|---|---|---|
| PE | 39x | 24x | 63% above |
| PE % | 3 | 58 | 55 pts below |
VRT is trading at 39x earnings, a 63% premium to the Industrials sector's median of 24x.
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 VRT on trend strength, trading above more of its moving averages.
VRT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $221.8 | 5.5% below |
| 20 week MA | $254.4 | 18% below |
| 50 week MA | $253.9 | 17% below |
| 100 week MA | $189.1 | 11% above |
| 200 week MA | $123.5 | 70% above |
VRT has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 70% above 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.
VRT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.9 | $18.9 | +73% |
| 2021 | $18.9 | $24.9 | +31% |
| 2022 | $24.9 | $12.8 | -48% |
| 2023 | $12.8 | $48.0 | +275% |
| 2024 | $48.0 | $115.1 | +140% |
| 2025 | $115.1 | $167.6 | +46% |
| 2026 YTD | $167.6 | $209.6 | +25% |
VRT has the edge over PPIH on returns for 2026, with the stronger performance.