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Side-by-side financial comparison of Perma-Pipe International Holdings, Inc. (PPIH) and REGIS CORP (RGS). Click either name above to swap in a different company.

Perma-Pipe International Holdings, Inc. is the larger business by last-quarter revenue ($61.1M vs $57.1M, roughly 1.1× REGIS CORP). Perma-Pipe International Holdings, Inc. runs the higher net margin — 10.3% vs 0.8%, a 9.5% gap on every dollar of revenue. On growth, Perma-Pipe International Holdings, Inc. posted the faster year-over-year revenue change (47.1% vs 22.3%). Perma-Pipe International Holdings, Inc. produced more free cash flow last quarter ($12.4M vs $891.0K). Over the past eight quarters, Perma-Pipe International Holdings, Inc.'s revenue compounded faster (23.4% CAGR vs 7.8%).

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.

Regis Corporation is an American operator of hair salons. As of August 2021, it has 5,563 franchised and 276 company-owned salons. Its headquarters are in Minneapolis, Minnesota.

PPIH vs RGS — Head-to-Head

Bigger by revenue
PPIH
PPIH
1.1× larger
PPIH
$61.1M
$57.1M
RGS
Growing faster (revenue YoY)
PPIH
PPIH
+24.9% gap
PPIH
47.1%
22.3%
RGS
Higher net margin
PPIH
PPIH
9.5% more per $
PPIH
10.3%
0.8%
RGS
More free cash flow
PPIH
PPIH
$11.5M more FCF
PPIH
$12.4M
$891.0K
RGS
Faster 2-yr revenue CAGR
PPIH
PPIH
Annualised
PPIH
23.4%
7.8%
RGS

Income Statement — Q3 FY2026 vs Q2 FY2026

Metric
PPIH
PPIH
RGS
RGS
Revenue
$61.1M
$57.1M
Net Profit
$6.3M
$456.0K
Gross Margin
34.4%
Operating Margin
18.6%
10.8%
Net Margin
10.3%
0.8%
Revenue YoY
47.1%
22.3%
Net Profit YoY
153.5%
-94.0%
EPS (diluted)
$0.77
$0.16

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.

Revenue
PPIH
PPIH
RGS
RGS
Q4 25
$61.1M
$57.1M
Q3 25
$47.9M
$59.0M
Q2 25
$46.7M
$60.4M
Q1 25
$45.0M
$57.0M
Q4 24
$41.6M
$46.7M
Q3 24
$37.5M
$46.1M
Q2 24
$34.3M
$49.4M
Q1 24
$40.2M
$49.2M
Net Profit
PPIH
PPIH
RGS
RGS
Q4 25
$6.3M
$456.0K
Q3 25
$851.0K
$1.4M
Q2 25
$5.0M
$116.5M
Q1 25
$1.8M
$250.0K
Q4 24
$2.5M
$7.6M
Q3 24
$3.3M
$-853.0K
Q2 24
$1.4M
$91.2M
Q1 24
$8.6M
$-2.3M
Gross Margin
PPIH
PPIH
RGS
RGS
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%
Operating Margin
PPIH
PPIH
RGS
RGS
Q4 25
18.6%
10.8%
Q3 25
6.7%
10.0%
Q2 25
16.9%
12.1%
Q1 25
12.1%
8.8%
Q4 24
13.4%
11.8%
Q3 24
16.4%
4.6%
Q2 24
9.1%
Q1 24
11.3%
8.3%
Net Margin
PPIH
PPIH
RGS
RGS
Q4 25
10.3%
0.8%
Q3 25
1.8%
2.3%
Q2 25
10.6%
192.9%
Q1 25
3.9%
0.4%
Q4 24
6.0%
16.4%
Q3 24
8.8%
-1.9%
Q2 24
4.2%
184.7%
Q1 24
21.5%
-4.7%
EPS (diluted)
PPIH
PPIH
RGS
RGS
Q4 25
$0.77
$0.16
Q3 25
$0.10
$0.49
Q2 25
$0.61
$43.67
Q1 25
$0.23
$0.08
Q4 24
$0.31
$2.71
Q3 24
$0.40
$-0.36
Q2 24
$0.18
$38.40
Q1 24
$1.07
$-1.00

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
PPIH
PPIH
RGS
RGS
Cash + ST InvestmentsLiquidity on hand
$27.2M
$18.4M
Total DebtLower is stronger
$12.7M
$113.3M
Stockholders' EquityBook value
$85.8M
$188.7M
Total Assets
$217.0M
$588.3M
Debt / EquityLower = less leverage
0.15×
0.60×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
PPIH
PPIH
RGS
RGS
Q4 25
$27.2M
$18.4M
Q3 25
$17.3M
$16.6M
Q2 25
$18.8M
$17.0M
Q1 25
$15.7M
$13.3M
Q4 24
$13.3M
$10.2M
Q3 24
$9.5M
$6.3M
Q2 24
$7.7M
$10.1M
Q1 24
$5.8M
$5.9M
Total Debt
PPIH
PPIH
RGS
RGS
Q4 25
$12.7M
$113.3M
Q3 25
$111.3M
Q2 25
$110.8M
Q1 25
$15.2M
$112.0M
Q4 24
$111.5M
Q3 24
$95.2M
Q2 24
$99.5M
Q1 24
$15.2M
$179.7M
Stockholders' Equity
PPIH
PPIH
RGS
RGS
Q4 25
$85.8M
$188.7M
Q3 25
$80.2M
$187.6M
Q2 25
$77.9M
$185.6M
Q1 25
$72.1M
$68.6M
Q4 24
$71.2M
$66.7M
Q3 24
$68.6M
$56.4M
Q2 24
$65.5M
$56.8M
Q1 24
$65.7M
$-35.8M
Total Assets
PPIH
PPIH
RGS
RGS
Q4 25
$217.0M
$588.3M
Q3 25
$189.0M
$592.1M
Q2 25
$178.3M
$599.0M
Q1 25
$165.2M
$511.2M
Q4 24
$160.7M
$530.1M
Q3 24
$157.8M
$508.9M
Q2 24
$155.7M
$530.5M
Q1 24
$155.7M
$543.7M
Debt / Equity
PPIH
PPIH
RGS
RGS
Q4 25
0.15×
0.60×
Q3 25
0.59×
Q2 25
0.60×
Q1 25
0.21×
1.63×
Q4 24
1.67×
Q3 24
1.69×
Q2 24
1.75×
Q1 24
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
PPIH
PPIH
RGS
RGS
Operating Cash FlowLast quarter
$17.3M
$1.7M
Free Cash FlowOCF − Capex
$12.4M
$891.0K
FCF MarginFCF / Revenue
20.2%
1.6%
Capex IntensityCapex / Revenue
8.1%
1.4%
Cash ConversionOCF / Net Profit
2.74×
3.65×
TTM Free Cash FlowTrailing 4 quarters
$12.3M
$14.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
PPIH
PPIH
RGS
RGS
Q4 25
$17.3M
$1.7M
Q3 25
$-2.0M
$2.3M
Q2 25
$733.0K
$6.8M
Q1 25
$6.0M
$6.2M
Q4 24
$5.2M
$2.1M
Q3 24
$2.8M
$-1.3M
Q2 24
$-73.0K
$5.1M
Q1 24
$7.1M
$-277.0K
Free Cash Flow
PPIH
PPIH
RGS
RGS
Q4 25
$12.4M
$891.0K
Q3 25
$-4.6M
$1.9M
Q2 25
$-194.0K
$6.2M
Q1 25
$4.7M
$5.9M
Q4 24
$4.8M
$1.7M
Q3 24
$2.2M
$-1.4M
Q2 24
$-662.0K
$5.1M
Q1 24
$4.2M
$-326.0K
FCF Margin
PPIH
PPIH
RGS
RGS
Q4 25
20.2%
1.6%
Q3 25
-9.6%
3.2%
Q2 25
-0.4%
10.3%
Q1 25
10.5%
10.3%
Q4 24
11.6%
3.6%
Q3 24
5.8%
-3.0%
Q2 24
-1.9%
10.3%
Q1 24
10.5%
-0.7%
Capex Intensity
PPIH
PPIH
RGS
RGS
Q4 25
8.1%
1.4%
Q3 25
5.3%
0.7%
Q2 25
2.0%
0.9%
Q1 25
2.9%
0.6%
Q4 24
0.8%
0.9%
Q3 24
1.7%
0.0%
Q2 24
1.7%
0.0%
Q1 24
7.2%
0.1%
Cash Conversion
PPIH
PPIH
RGS
RGS
Q4 25
2.74×
3.65×
Q3 25
-2.40×
1.68×
Q2 25
0.15×
0.06×
Q1 25
3.42×
24.80×
Q4 24
2.07×
0.28×
Q3 24
0.86×
Q2 24
-0.05×
0.06×
Q1 24
0.82×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

PPIH
PPIH

Segment breakdown not available.

RGS
RGS

Franchise Segment$37.9M66%
Royalty$13.6M24%
Other$2.8M5%
Fees$1.8M3%
Franchise Fees$1.0M2%

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