Perma-Pipe International Holdings (PPIH) Gross Margin (2010 - 2026)
Perma-Pipe International Holdings posted quarterly Gross Margin of 31.45% for Q1 2026, down 228.0% year-on-year from 24.57% in Q1 2025, and down 8.45% on a QoQ basis from 34.35% in Q4 2025.
Perma-Pipe International Holdings (PPIH) has 17 years of Gross Margin data on file, last reported at 31.45% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin fell 228.0% year-over-year to 31.45%; the trailing twelve-month figure through Jan 2026 stood at 32.94% (down 67.0% YoY), and the FY2026 full-year result was 32.94%, down 68.0% from the prior year.
- Gross Margin for Q1 2026 stood at 31.45%, down from 34.35% in the prior quarter.
- Across five years, Gross Margin topped out at 35.92% in Q3 2024 and bottomed at 22.58% in Q2 2022.
- The 5-year median for Gross Margin is 29.95% (2024), against an average of 29.76%.
- The widest annual swing landed in 2022, when Gross Margin jumped 1335 bps; it then sank 581 bps in 2025.
- A 5-year view of Gross Margin shows it stood at 29.36% in 2022, then fell by 2 bps to 28.86% in 2023, then advanced by 17 bps to 33.89% in 2024, then grew by 1 bps to 34.35% in 2025, then declined by 8 bps to 31.45% in 2026.
- The last three Gross Margin figures came in at 31.45% (Q1 2026), 34.35% (Q4 2025), and 30.11% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Trane Technologies | 99.95 Bn | 98.89 Bn | 1.73 Bn | 34.77% |
| 2 | Johnson Controls International | 84.54 Bn | 84.01 Bn | 2.07 Bn | 35.78% |
| 3 | Carrier Global | 52.72 Bn | 51.70 Bn | 4.82 Bn | 90.17% |
| 4 | Lennox International | 16.87 Bn | 16.82 Bn | 351.30 Mn | 30.95% |
| 5 | Masco | 13.72 Bn | 13.60 Bn | 686.00 Mn | 35.77% |
| 6 | Carlisle Companies | 13.62 Bn | 12.85 Bn | 363.20 Mn | 34.52% |
| 7 | Aaon | 10.97 Bn | 10.97 Bn | 109.77 Mn | 25.88% |
| 8 | SPX Technologies | 10.37 Bn | 10.22 Bn | 230.60 Mn | 40.68% |
| 9 | Advanced Drainage Systems | 10.34 Bn | 10.19 Bn | 237.66 Mn | 35.12% |
| 10 | Perma-Pipe International Holdings | 251.39 Mn | 244.76 Mn | 17.34 Mn | 31.45% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Apr 30, 2021 | 18.45% |
| Jan 31, 2021 | 11.32% |
| Oct 31, 2020 | 14.48% |
| Jul 31, 2020 | 11.61% |
| Apr 30, 2020 | 15.24% |
| Jan 31, 2020 | 21.78% |
| Oct 31, 2019 | 22.18% |
| Jul 31, 2019 | 26.33% |
| Apr 30, 2019 | 19.45% |
| Jan 31, 2019 | 18.08% |
| Oct 31, 2018 | 20.98% |
| Jul 31, 2018 | 18.23% |
| Apr 30, 2018 | 14.62% |
| Jan 31, 2018 | 13.06% |
| Oct 31, 2017 | 12.07% |
| Jul 31, 2017 | 11.39% |
| Apr 30, 2017 | 7.60% |
| Jan 31, 2017 | 11.03% |
| Oct 31, 2016 | 14.61% |
| Jul 31, 2016 | 13.04% |
| Apr 30, 2016 | 8.63% |
| Jan 31, 2016 | 22.90% |
| Oct 31, 2015 | 30.49% |
| Jul 31, 2015 | 12.43% |
| Apr 30, 2015 | 11.61% |
| Jan 31, 2015 | 8.33% |
| Oct 31, 2014 | 15.34% |
| Jul 31, 2014 | 19.76% |
| Apr 30, 2014 | 26.86% |
| Jan 31, 2014 | 17.20% |
| Oct 31, 2013 | 29.13% |
| Jul 31, 2013 | 22.09% |
| Apr 30, 2013 | 23.26% |
| Jan 31, 2013 | 13.33% |
| Oct 31, 2012 | 18.37% |
| Jul 31, 2012 | 17.68% |
| Apr 30, 2012 | 15.35% |
| Jan 31, 2012 | 10.86% |
| Oct 31, 2011 | 17.43% |
| Jul 31, 2011 | 16.85% |
| Apr 30, 2011 | 15.43% |
| Jan 31, 2011 | 13.34% |
| Oct 31, 2010 | 23.04% |
| Jul 31, 2010 | 22.21% |