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Side-by-side financial comparison of Perma-Pipe International Holdings, Inc. (PPIH) and RHYTHM PHARMACEUTICALS, INC. (RYTM). 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 $60.1M, roughly 1.0× RHYTHM PHARMACEUTICALS, INC.). Perma-Pipe International Holdings, Inc. runs the higher net margin — 10.3% vs -92.6%, a 102.9% gap on every dollar of revenue. On growth, RHYTHM PHARMACEUTICALS, INC. posted the faster year-over-year revenue change (83.8% vs 47.1%). Over the past eight quarters, RHYTHM PHARMACEUTICALS, INC.'s revenue compounded faster (43.8% CAGR vs 23.4%).
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.
Rhythm Pharmaceuticals is a biopharmaceutical firm focused on developing and commercializing targeted therapies for rare genetic disorders causing severe unmanageable obesity, including POMC deficiency, LEPR deficiency, and Bardet-Biedl syndrome. It serves patients in North America and Europe who lack effective standard treatments for their chronic life-altering conditions.
PPIH vs RYTM — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $61.1M | $60.1M |
| Net Profit | $6.3M | $-55.6M |
| Gross Margin | 34.4% | 88.1% |
| Operating Margin | 18.6% | -87.1% |
| Net Margin | 10.3% | -92.6% |
| Revenue YoY | 47.1% | 83.8% |
| Net Profit YoY | 153.5% | — |
| EPS (diluted) | $0.77 | $-0.83 |
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.
| Q1 26 | — | $60.1M | ||
| Q4 25 | $61.1M | $57.3M | ||
| Q3 25 | $47.9M | $51.3M | ||
| Q2 25 | $46.7M | $48.5M | ||
| Q1 25 | $45.0M | $32.7M | ||
| Q4 24 | $41.6M | $41.8M | ||
| Q3 24 | $37.5M | $33.3M | ||
| Q2 24 | $34.3M | $29.1M |
| Q1 26 | — | $-55.6M | ||
| Q4 25 | $6.3M | $-47.5M | ||
| Q3 25 | $851.0K | $-52.9M | ||
| Q2 25 | $5.0M | $-46.6M | ||
| Q1 25 | $1.8M | $-49.5M | ||
| Q4 24 | $2.5M | $-43.3M | ||
| Q3 24 | $3.3M | $-43.6M | ||
| Q2 24 | $1.4M | $-32.3M |
| Q1 26 | — | 88.1% | ||
| Q4 25 | 34.4% | 91.6% | ||
| Q3 25 | 30.1% | 89.3% | ||
| Q2 25 | 35.8% | 88.6% | ||
| Q1 25 | 33.7% | 88.8% | ||
| Q4 24 | 33.9% | 90.9% | ||
| Q3 24 | 35.9% | 88.5% | ||
| Q2 24 | 30.6% | 89.9% |
| Q1 26 | — | -87.1% | ||
| Q4 25 | 18.6% | -82.2% | ||
| Q3 25 | 6.7% | -102.6% | ||
| Q2 25 | 16.9% | -93.4% | ||
| Q1 25 | 12.1% | -143.7% | ||
| Q4 24 | 13.4% | -98.6% | ||
| Q3 24 | 16.4% | -132.0% | ||
| Q2 24 | 9.1% | -139.2% |
| Q1 26 | — | -92.6% | ||
| Q4 25 | 10.3% | -83.0% | ||
| Q3 25 | 1.8% | -103.1% | ||
| Q2 25 | 10.6% | -96.1% | ||
| Q1 25 | 3.9% | -151.4% | ||
| Q4 24 | 6.0% | -103.6% | ||
| Q3 24 | 8.8% | -131.2% | ||
| Q2 24 | 4.2% | -110.9% |
| Q1 26 | — | $-0.83 | ||
| Q4 25 | $0.77 | $-0.73 | ||
| Q3 25 | $0.10 | $-0.82 | ||
| Q2 25 | $0.61 | $-0.75 | ||
| Q1 25 | $0.23 | $-0.81 | ||
| Q4 24 | $0.31 | $-0.71 | ||
| Q3 24 | $0.40 | $-0.73 | ||
| Q2 24 | $0.18 | $-0.55 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $27.2M | $340.6M |
| Total DebtLower is stronger | $12.7M | — |
| Stockholders' EquityBook value | $85.8M | $122.9M |
| Total Assets | $217.0M | $442.3M |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $340.6M | ||
| Q4 25 | $27.2M | $388.9M | ||
| Q3 25 | $17.3M | $416.1M | ||
| Q2 25 | $18.8M | $291.0M | ||
| Q1 25 | $15.7M | $314.5M | ||
| Q4 24 | $13.3M | $320.6M | ||
| Q3 24 | $9.5M | $298.4M | ||
| Q2 24 | $7.7M | $319.1M |
| Q1 26 | — | — | ||
| Q4 25 | $12.7M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $15.2M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $122.9M | ||
| Q4 25 | $85.8M | $139.1M | ||
| Q3 25 | $80.2M | $148.8M | ||
| Q2 25 | $77.9M | $-11.9M | ||
| Q1 25 | $72.1M | $18.9M | ||
| Q4 24 | $71.2M | $21.7M | ||
| Q3 24 | $68.6M | $11.2M | ||
| Q2 24 | $65.5M | $39.3M |
| Q1 26 | — | $442.3M | ||
| Q4 25 | $217.0M | $480.2M | ||
| Q3 25 | $189.0M | $506.9M | ||
| Q2 25 | $178.3M | $372.7M | ||
| Q1 25 | $165.2M | $386.7M | ||
| Q4 24 | $160.7M | $392.3M | ||
| Q3 24 | $157.8M | $363.6M | ||
| Q2 24 | $155.7M | $381.8M |
| Q1 26 | — | — | ||
| Q4 25 | 0.15× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.21× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $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.
| Q1 26 | — | — | ||
| Q4 25 | $17.3M | $-25.4M | ||
| Q3 25 | $-2.0M | $-26.6M | ||
| Q2 25 | $733.0K | $-23.3M | ||
| Q1 25 | $6.0M | $-40.4M | ||
| Q4 24 | $5.2M | $-18.8M | ||
| Q3 24 | $2.8M | $-25.2M | ||
| Q2 24 | $-73.0K | $-29.1M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 2.74× | — | ||
| Q3 25 | -2.40× | — | ||
| Q2 25 | 0.15× | — | ||
| Q1 25 | 3.42× | — | ||
| Q4 24 | 2.07× | — | ||
| Q3 24 | 0.86× | — | ||
| Q2 24 | -0.05× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
