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PPIH · CIK 0000914122 · FY2026 live · 2026-01-31

Perma-Pipe International Holdings, Inc.

DistressSEC 10-KClassic ZIndustrials44th percentile in Industrials · 430 names

View as

Model

Classic Z

FY2026

1.48

Zone

Distress

Prior

—

Market DD

—

1y PD

—

Meridian Rank

54.55

0–100 · Classic Z tape · not a PD

  • Book standing

    54

  • Year change

    —

  • Market PD

    —

  • O-score

    56

Events on this name

Same published rows as Today. Not a live recompute.

  • MARKET PD UNAVAILABLE

    watch · 41

    • mertonPd: — → —

1.48

Z″ 4.24

−21.83.08+

Score 1.48 · distress below 1.80, grey to 2.99, safe at 3.00 and above.

Classic Z factor contributions

  • X1 Working capital / assets

    Short-term liquidity versus the size of the balance sheet.

    0.31
    1.2 × = 0.37

  • X2 Retained earnings / assets

    Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.

    0.17
    1.4 × = 0.24

  • X3 EBIT / assets

    Operating return on assets. Highest weight in the original model.

    0.14
    3.3 × = 0.45

  • X4 Book equity / liabilities

    Book equity versus the liability stack. Mega-caps often look greyer here than they would if X4 used market cap.

    0.71
    0.6 × = 0.43

  • X5 Sales / assets

    Asset turnover — how much revenue the asset base supports.

    0.00
    1 × = 0.00

Five-year path

Need two annual 10-Ks to draw a path. The desk will pull this issuer’s filings rather than invent a series.

Overview

rule-v1

Perma-Pipe International Holdings, Inc. is on classic Z at 1.48 (distress) for FY2026, from an SEC 10-K. EBIT / assets is the line that sets the print; book equity / liabilities is the runner-up. This is the first live year on the desk. No market tape loaded. Classic Z was fit on manufacturers; buybacks can send retained earnings negative at otherwise healthy issuers, and X4 is book equity, not market cap.

Book screen Distress; market PD —. Tape not priced — not a single default call.

Market DD · naive Merton

No market tape yet.

Pull a year of closes (Yahoo, Nasdaq if Yahoo is limited) and size equity from Nasdaq cap or EDGAR shares. Distance-to-default and 1-year PD stay blank until then.

Sector peers

Closest Classic Z scores · 44th percentile in Industrials.

KPI widgets

Current assets

$147M

Total assets

$217M

Current liabilities

$80M

Total liabilities

$127M

Working capital

$67M

Retained earnings

$37M

EBIT

$29M

Total sales

$0

Book equity

$91M

Accession 0001437749-26-012499. Live rank is the latest 10-K on EDGAR (FY2026, period 2026-01-31). Classic Z is the live score. View as does not rewrite the live rank. X4 is book equity. Pulled 13 Sept 2026.