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Side-by-side financial comparison of Globalstar, Inc. (GSAT) and Perma-Pipe International Holdings, Inc. (PPIH). Click either name above to swap in a different company.
Globalstar, Inc. is the larger business by last-quarter revenue ($72.0M vs $61.1M, roughly 1.2× Perma-Pipe International Holdings, Inc.). Perma-Pipe International Holdings, Inc. runs the higher net margin — 10.3% vs -16.1%, a 26.5% gap on every dollar of revenue. On growth, Perma-Pipe International Holdings, Inc. posted the faster year-over-year revenue change (47.1% vs 17.6%). Over the past eight quarters, Perma-Pipe International Holdings, Inc.'s revenue compounded faster (23.4% CAGR vs 12.9%).
Globalstar, Inc. is an American telecommunications company that operates a satellite constellation in low Earth orbit (LEO) for satellite phone, low-speed data transmission and Earth observation. The Globalstar second-generation constellation consists of 25 satellites.
Perma-Pipe International Holdings, Inc. designs, manufactures and supplies pre-insulated piping systems and integrated leak detection solutions. Its offerings cater to oil & gas, district heating and cooling, industrial, and municipal infrastructure segments, with a global footprint spanning North America, the Middle East, Europe and Asia.
GSAT vs PPIH — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $72.0M | $61.1M |
| Net Profit | $-11.6M | $6.3M |
| Gross Margin | — | 34.4% |
| Operating Margin | -0.5% | 18.6% |
| Net Margin | -16.1% | 10.3% |
| Revenue YoY | 17.6% | 47.1% |
| Net Profit YoY | 76.9% | 153.5% |
| EPS (diluted) | $-0.11 | $0.77 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $72.0M | $61.1M | ||
| Q3 25 | $73.8M | $47.9M | ||
| Q2 25 | $67.1M | $46.7M | ||
| Q1 25 | $60.0M | $45.0M | ||
| Q4 24 | $61.2M | $41.6M | ||
| Q3 24 | $72.3M | $37.5M | ||
| Q2 24 | $60.4M | $34.3M | ||
| Q1 24 | $56.5M | $40.2M |
| Q4 25 | $-11.6M | $6.3M | ||
| Q3 25 | $1.1M | $851.0K | ||
| Q2 25 | $19.2M | $5.0M | ||
| Q1 25 | $-17.3M | $1.8M | ||
| Q4 24 | $-50.2M | $2.5M | ||
| Q3 24 | $9.9M | $3.3M | ||
| Q2 24 | $-9.7M | $1.4M | ||
| Q1 24 | $-13.2M | $8.6M |
| Q4 25 | — | 34.4% | ||
| Q3 25 | — | 30.1% | ||
| Q2 25 | — | 35.8% | ||
| Q1 25 | — | 33.7% | ||
| Q4 24 | — | 33.9% | ||
| Q3 24 | — | 35.9% | ||
| Q2 24 | — | 30.6% | ||
| Q1 24 | — | 30.0% |
| Q4 25 | -0.5% | 18.6% | ||
| Q3 25 | 13.8% | 6.7% | ||
| Q2 25 | 9.2% | 16.9% | ||
| Q1 25 | -14.2% | 12.1% | ||
| Q4 24 | -6.9% | 13.4% | ||
| Q3 24 | 13.0% | 16.4% | ||
| Q2 24 | -2.4% | 9.1% | ||
| Q1 24 | -8.3% | 11.3% |
| Q4 25 | -16.1% | 10.3% | ||
| Q3 25 | 1.5% | 1.8% | ||
| Q2 25 | 28.6% | 10.6% | ||
| Q1 25 | -28.9% | 3.9% | ||
| Q4 24 | -82.1% | 6.0% | ||
| Q3 24 | 13.7% | 8.8% | ||
| Q2 24 | -16.0% | 4.2% | ||
| Q1 24 | -23.4% | 21.5% |
| Q4 25 | $-0.11 | $0.77 | ||
| Q3 25 | $-0.01 | $0.10 | ||
| Q2 25 | $0.13 | $0.61 | ||
| Q1 25 | $-0.16 | $0.23 | ||
| Q4 24 | $-0.57 | $0.31 | ||
| Q3 24 | $0.00 | $0.40 | ||
| Q2 24 | $-0.01 | $0.18 | ||
| Q1 24 | $-0.01 | $1.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $447.5M | $27.2M |
| Total DebtLower is stronger | $483.8M | $12.7M |
| Stockholders' EquityBook value | $355.7M | $85.8M |
| Total Assets | $2.3B | $217.0M |
| Debt / EquityLower = less leverage | 1.36× | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $447.5M | $27.2M | ||
| Q3 25 | $346.3M | $17.3M | ||
| Q2 25 | $308.2M | $18.8M | ||
| Q1 25 | $241.4M | $15.7M | ||
| Q4 24 | $391.2M | $13.3M | ||
| Q3 24 | $51.9M | $9.5M | ||
| Q2 24 | $64.3M | $7.7M | ||
| Q1 24 | $59.3M | $5.8M |
| Q4 25 | $483.8M | $12.7M | ||
| Q3 25 | $508.6M | — | ||
| Q2 25 | $491.5M | — | ||
| Q1 25 | $502.7M | $15.2M | ||
| Q4 24 | $511.4M | — | ||
| Q3 24 | $394.4M | — | ||
| Q2 24 | $393.1M | — | ||
| Q1 24 | $398.7M | $15.2M |
| Q4 25 | $355.7M | $85.8M | ||
| Q3 25 | $364.8M | $80.2M | ||
| Q2 25 | $360.9M | $77.9M | ||
| Q1 25 | $344.3M | $72.1M | ||
| Q4 24 | $358.9M | $71.2M | ||
| Q3 24 | $394.1M | $68.6M | ||
| Q2 24 | $383.0M | $65.5M | ||
| Q1 24 | $377.1M | $65.7M |
| Q4 25 | $2.3B | $217.0M | ||
| Q3 25 | $2.2B | $189.0M | ||
| Q2 25 | $1.9B | $178.3M | ||
| Q1 25 | $1.7B | $165.2M | ||
| Q4 24 | $1.7B | $160.7M | ||
| Q3 24 | $917.6M | $157.8M | ||
| Q2 24 | $926.2M | $155.7M | ||
| Q1 24 | $917.0M | $155.7M |
| Q4 25 | 1.36× | 0.15× | ||
| Q3 25 | 1.39× | — | ||
| Q2 25 | 1.36× | — | ||
| Q1 25 | 1.46× | 0.21× | ||
| Q4 24 | 1.43× | — | ||
| Q3 24 | 1.00× | — | ||
| Q2 24 | 1.03× | — | ||
| Q1 24 | 1.06× | 0.23× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $175.9M | $17.3M |
| Free Cash FlowOCF − Capex | — | $12.4M |
| FCF MarginFCF / Revenue | — | 20.2% |
| Capex IntensityCapex / Revenue | — | 8.1% |
| Cash ConversionOCF / Net Profit | — | 2.74× |
| TTM Free Cash FlowTrailing 4 quarters | — | $12.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $175.9M | $17.3M | ||
| Q3 25 | $236.0M | $-2.0M | ||
| Q2 25 | $157.9M | $733.0K | ||
| Q1 25 | $51.9M | $6.0M | ||
| Q4 24 | $340.7M | $5.2M | ||
| Q3 24 | $32.0M | $2.8M | ||
| Q2 24 | $36.7M | $-73.0K | ||
| Q1 24 | $29.8M | $7.1M |
| Q4 25 | — | $12.4M | ||
| Q3 25 | — | $-4.6M | ||
| Q2 25 | — | $-194.0K | ||
| Q1 25 | — | $4.7M | ||
| Q4 24 | — | $4.8M | ||
| Q3 24 | — | $2.2M | ||
| Q2 24 | — | $-662.0K | ||
| Q1 24 | — | $4.2M |
| Q4 25 | — | 20.2% | ||
| Q3 25 | — | -9.6% | ||
| Q2 25 | — | -0.4% | ||
| Q1 25 | — | 10.5% | ||
| Q4 24 | — | 11.6% | ||
| Q3 24 | — | 5.8% | ||
| Q2 24 | — | -1.9% | ||
| Q1 24 | — | 10.5% |
| Q4 25 | — | 8.1% | ||
| Q3 25 | — | 5.3% | ||
| Q2 25 | — | 2.0% | ||
| Q1 25 | — | 2.9% | ||
| Q4 24 | — | 0.8% | ||
| Q3 24 | — | 1.7% | ||
| Q2 24 | — | 1.7% | ||
| Q1 24 | — | 7.2% |
| Q4 25 | — | 2.74× | ||
| Q3 25 | 216.53× | -2.40× | ||
| Q2 25 | 8.22× | 0.15× | ||
| Q1 25 | — | 3.42× | ||
| Q4 24 | — | 2.07× | ||
| Q3 24 | 3.23× | 0.86× | ||
| Q2 24 | — | -0.05× | ||
| Q1 24 | — | 0.82× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
PPIH
Segment breakdown not available.
