OverviewSuggest Edit

Perma-Pipe (formerly known as MFRI) is a global company that engineers, designs, manufactures, and sells specialty piping and leak detection systems. The company offers insulated and jacketed district heating and cooling (DHC) piping systems for energy distribution from central energy plants to multiple locations, primary and secondary containment piping systems for transporting chemicals, hazardous fluids and petroleum products, and the coating and insulation of oil and gas gathering and transmission pipelines. Its leak detection systems are used to monitor areas where fluid intrusion may contaminate the environment, endanger personal safety, cause a fire hazard, impair essential services, and damage equipment or property.

TypePublic
Founded1993
HQNiles, IL, US
Websitepermapipe.com
Employee Ratings3.2
Overall CultureF

Latest Updates

Employees (est.) (Jan 2019)701(+6%)
Revenue (FY, 2018)$129 M(+23%)
Share Price (Jan 2022)$8.8
Cybersecurity ratingBMore
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Key People/Management at Perma-Pipe

Wayne M. Bosch

Wayne M. Bosch

Vice President and Chief Human Resources Officer
Scott James

Scott James

Senior Vice President, Americas
D. Bryan Norwood

D. Bryan Norwood

Vice President and Chief Financial Officer
Grant Dewbre

Grant Dewbre

Senior Vice President, Middle East & North Africa
David S. Barrie

David S. Barrie

Independent Director and Chairman of the Board of Directors
David B. Brown

David B. Brown

Independent Director
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Perma-Pipe Office Locations

Perma-Pipe has offices in Niles, Lebanon, New Iberia, Spring and in 7 other locations
Niles, IL, US (HQ)
6410 Howard St
Lebanon, TN, US
1310 Quarles Dr
New Iberia, LA, US
5008 Curtis Ln
Spring, TX, US
24900 Pitkin Rd Suite 309
Calgary, CA
407 2 St SW #1600
Camrose, CA
5233 39 St
Show all (11)

Perma-Pipe Financials and Metrics

Perma-Pipe Revenue

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Perma-Pipe's revenue was reported to be $128.97 m in FY, 2018 which is a 22.5% increase from the previous period.
USD

Revenue (Q3, 2019)

34.5m

Gross profit (Q3, 2019)

7.6m

Gross profit margin (Q3, 2019), %

22.2%

Net income (Q3, 2019)

(145.0k)

EBIT (Q3, 2019)

1.7m

Market capitalization (10-Jan-2022)

70.6m

Closing stock price (10-Jan-2022)

8.8

Cash (31-Oct-2019)

12.2m

EV

78.7m
Perma-Pipe's current market capitalization is $70.6 m.
Annual
USDFY, 2016FY, 2017FY, 2018

Revenue

98.8m105.2m129.0m

Revenue growth, %

(19%)6%23%

Cost of goods sold

87.1m93.5m105.6m

Gross profit

11.7m11.7m23.3m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019

Revenue

23.5m26.9m27.5m28.9m32.3m32.8m24.3m36.7m34.5m

Cost of goods sold

21.7m23.8m24.2m24.7m26.4m25.9m19.6m27.0m26.8m

Gross profit

1.8m3.1m3.3m4.2m5.9m6.9m4.7m9.7m7.6m

Gross profit Margin, %

8%11%12%15%18%21%19%26%22%
Annual
USDFY, 2016FY, 2017FY, 2018

Cash

7.6m7.1m10.2m

Accounts Receivable

31.3m32.9m32.5m

Prepaid Expenses

2.7m3.8m

Inventories

13.6m16.9m12.3m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019

Cash

9.1m8.5m8.4m9.9m5.2m9.6m8.0m8.1m12.2m

Accounts Receivable

23.8m26.6m28.9m29.3m29.7m32.3m24.8m30.4m28.2m

Prepaid Expenses

3.8m3.4m3.1m2.8m3.8m3.3m3.7m4.5m3.6m

Inventories

15.3m16.0m14.0m15.8m14.7m14.3m16.1m16.6m16.3m
Annual
USDFY, 2016FY, 2017FY, 2018

Net Income

(11.7m)(10.0m)(529.0k)

Depreciation and Amortization

5.5m5.0m4.6m

Inventories

5.5m(3.3m)4.4m

Accounts Payable

(1.9m)4.6m(3.6m)
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019

Net Income

(3.5m)(5.2m)(8.5m)(1.1m)(1.4m)(1.5m)(1.5m)2.2m2.1m

Depreciation and Amortization

1.2m2.5m3.8m1.2m2.3m3.5m1.2m2.3m3.3m

Inventories

(1.8m)(2.3m)(375.0k)934.0k2.0m2.3m(3.9m)(4.2m)(4.0m)

Accounts Payable

(936.0k)(713.0k)(1.6m)(2.9m)(4.1m)(5.5m)172.0k641.0k525.0k
USDFY, 2017

Revenue/Employee

139.2k

Debt/Equity

0.2 x

Debt/Assets

0.1 x

Financial Leverage

1.7 x
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Perma-Pipe Operating Metrics

Perma-Pipe's Backlog was reported to be $52.7m in Q3, 2019.
FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017Q3, 2017FY, 2017Q1, 2018Q2, 2018Q3, 2018FY, 2018Q1, 2019Q2, 2019Q3, 2019

Backlog

$47.94 m$47.85 m$41.53 m$52.76 m$44.62 m$49.37 m$62.66 m$59.27 m$46.7 m$53.8 m$65.1 m$70.1 m$61 m$63.2 m$63.9 m$52.7 m
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Perma-Pipe Acquisitions / Subsidiaries

Company NameDateDeal Size
H & D Environmental ServicesJuly 26, 2006
MFRI Holdings (B.V.I) Ltd
Midwesco Filter Resources, Denmark A/S
Midwesco Filter Resources, Inc.
MM Niles, Inc.
Perma-Pipe Canada, Inc.
Perma-Pipe Canada, LTD.
Perma-Pipe, Inc.
Perma-Pipe India Pvt. Ltd.
Perma-Pipe International Co. LLC
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Perma-Pipe Revenue Breakdown

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Perma-Pipe revenue breakdown by geographic segment: 39.0% from United States, 27.0% from Canada , 27.2% from Middle East and 6.8% from Other

Perma-Pipe Cybersecurity Score

Cybersecurity ratingPremium dataset

B

89/100

SecurityScorecard logo

Perma-Pipe Online and Social Media Presence

Embed Graph

Perma-Pipe Company Culture

  • Overall Culture

    F

    22/100

  • CEO Rating

    F

    30/100

  • Compensation

    F

    33/100

Learn more on Comparably

Perma-Pipe Blogs

Perma-Pipe International Holdings, Inc. Announces its Second Quarter and Year-to-Date Fiscal 2021 Financial Results

Company Release – 9/8/2021 9:00 AM ET  The Company generated net sales of $39.8 million for the second quarter Net income was $3.4 million in the second quarter compared to $0.3 million in the same quarter of 2020 Backlog stood at $53.2 million on July 31, 2021 compared to $52.6 million on January 3…

Perma-Pipe International Holdings Appoints Grant Dewbre to Chief Operating Officer, Saleh Sagr to Senior Vice President, Middle East North Africa

Company Release – 6/22/2021 9:00 AM ET  SPRING, Texas–(BUSINESS WIRE)– Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced the appointment of Grant Dewbre to Chief Operating Officer and Saleh Sagr to Senior Vice President, Middle East and North Africa (MENA). Grant joined Perma-Pi…

Perma-Pipe International Holdings Announces Contract Award in Excess of $4.5 Million in Canada

  Company Release – 5/10/2021 10:55 AM ET SPRING, Texas–(BUSINESS WIRE)– Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced it has been awarded a contract for a district heating and cooling network for a healthcare infrastructure project in Eastern Canada valued at over $4.5 mill…

Perma-Pipe International Holdings, Inc. Announces Sale and Leaseback Transaction Generating $8.7 Million in Net Proceeds

Perma-Pipe International Holdings, Inc. Announces Sale and Leaseback Transaction Generating $8.7 Million in Net Proceeds Company Release – 4/19/2021 11:45 AM ET NILES, Ill.–(BUSINESS WIRE)– Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today that it has completed a sale and leaseb…

Perma-Pipe International Holdings, Inc. Announces Fourth Quarter and Fiscal 2020 Financial Results

Perma-Pipe International Holdings, Inc. Announces Fourth Quarter and Fiscal 2020 Financial Results Company Release – 4/15/2021 4:15 PM ET Net sales of $21.3 million for the quarter and $84.7 million for the year Net loss of $2.5 million for the quarter and $7.6 million for the year Backlog of $52.6 …

Perma-Pipe Frequently Asked Questions

  • When was Perma-Pipe founded?

    Perma-Pipe was founded in 1993.

  • Who are Perma-Pipe key executives?

    Perma-Pipe's key executives are Wayne M. Bosch, Scott James and D. Bryan Norwood.

  • How many employees does Perma-Pipe have?

    Perma-Pipe has 701 employees.

  • What is Perma-Pipe revenue?

    Latest Perma-Pipe annual revenue is $129 m.

  • What is Perma-Pipe revenue per employee?

    Latest Perma-Pipe revenue per employee is $184 k.

  • Who are Perma-Pipe competitors?

    Competitors of Perma-Pipe include Northwest Pipe, Ichor Systems and Wasco Energy.

  • Where is Perma-Pipe headquarters?

    Perma-Pipe headquarters is located at 6410 Howard St, Niles.

  • Where are Perma-Pipe offices?

    Perma-Pipe has offices in Niles, Lebanon, New Iberia, Spring and in 7 other locations.

  • How many offices does Perma-Pipe have?

    Perma-Pipe has 11 offices.