Perma-Pipe International Holdings (PPIH) Gross Margin (2010 - 2026)
Perma-Pipe International Holdings' (PPIH) quarterly Gross Margin came in at 29.12% in Q2 2026, down 666.0% YoY from 5.14% in Q2 2025, and down 7.41% on a QoQ basis from 31.45% in Q1 2026.
Perma-Pipe International Holdings (PPIH) Gross Margin (2010 - 2026) Analysis & Trends
Perma-Pipe International Holdings (PPIH) has 17 years of Gross Margin data on file, last reported at 29.12% in Q2 2026.
- Quarterly Gross Margin fell 666.0% year-over-year to 29.12% in Q2 2026, while the trailing twelve-month figure through Apr 2026 was 31.43% (down 338.0% YoY) and the FY2026 annual result came in at 32.94%, down 68.0% from the prior year.
- Gross Margin eased to 29.12% in Q2 2026, from 31.45% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 35.92% in Q3 2024 to a low of 22.58% in Q2 2022.
- A 5-year average of 29.72% and a median of 29.66% in 2022 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2022 — Gross Margin jumped 1335 bps — and 2026, when it slumped 666 bps.
- Tracing PPIH's Gross Margin over 5 years: stood at 29.36% in 2022, then declined by 2 bps to 28.86% in 2023, then gained by 17 bps to 33.89% in 2024, then climbed by 1 bps to 34.35% in 2025, then decreased by 15 bps to 29.12% in 2026.
- The last three Gross Margin figures came in at 29.12% (Q2 2026), 31.45% (Q1 2026), and 34.35% (Q4 2025), per Business Quant data.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Trane Technologies | 99.71 Bn | 98.39 Bn | 2.26 Bn | 35.57% |
| 2 | Johnson Controls International | 87.29 Bn | 86.65 Bn | 2.47 Bn | 37.41% |
| 3 | Carrier Global | 49.78 Bn | 48.43 Bn | 1.94 Bn | 30.59% |
| 4 | Masco | 14.62 Bn | 14.07 Bn | 868.00 Mn | 43.57% |
| 5 | Carlisle Companies | 14.41 Bn | 13.74 Bn | 568.40 Mn | 36.20% |
| 6 | Lennox International | 14.06 Bn | 14.01 Bn | 539.50 Mn | 34.91% |
| 7 | Owens Corning | 11.84 Bn | 11.57 Bn | 793.00 Mn | 28.77% |
| 8 | Advanced Drainage Systems | 10.91 Bn | 10.75 Bn | 408.05 Mn | 40.76% |
| 9 | SPX Technologies | 10.27 Bn | 10.10 Bn | 272.80 Mn | 40.18% |
| 10 | Perma-Pipe International Holdings | 217.53 Mn | 185.69 Mn | 14.64 Mn | 29.12% |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | 29.12% |
| Jan 31, 2026 | 31.45% |
| Oct 31, 2025 | 34.35% |
| Jul 31, 2025 | 30.11% |
| Apr 30, 2025 | 35.78% |
| Jan 31, 2025 | 33.72% |
| Oct 31, 2024 | 33.89% |
| Jul 31, 2024 | 35.92% |
| Apr 30, 2024 | 30.64% |
| Jan 31, 2024 | 29.95% |
| Oct 31, 2023 | 28.86% |
| Jul 31, 2023 | 26.93% |
| Apr 30, 2023 | 22.84% |
| Jan 31, 2023 | 28.09% |
| Oct 31, 2022 | 29.36% |
| Jul 31, 2022 | 26.72% |
| Apr 30, 2022 | 22.58% |
| Jan 31, 2022 | 24.67% |
| Oct 31, 2021 | 21.67% |
| Jul 31, 2021 | 26.99% |