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Side-by-side financial comparison of Perma-Pipe International Holdings, Inc. (PPIH) and Neuronetics, Inc. (STIM). 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 $41.8M, roughly 1.5× Neuronetics, Inc.). Perma-Pipe International Holdings, Inc. runs the higher net margin — 10.3% vs -17.2%, a 27.6% gap on every dollar of revenue. On growth, Neuronetics, Inc. posted the faster year-over-year revenue change (85.7% vs 47.1%). Perma-Pipe International Holdings, Inc. produced more free cash flow last quarter ($12.4M vs $692.0K). Over the past eight quarters, Neuronetics, Inc.'s revenue compounded faster (54.9% 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.
Neuronetics is a Malvern, PA based, publicly traded company incorporated in Delaware in April 2003, that develops non-invasive treatments for psychiatric disorders that have shown resistance or lack of improvement using traditional medicine. The treatments are based upon neuromodulation technology.
PPIH vs STIM — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.1M | $41.8M |
| Net Profit | $6.3M | $-7.2M |
| Gross Margin | 34.4% | 52.0% |
| Operating Margin | 18.6% | -12.1% |
| Net Margin | 10.3% | -17.2% |
| Revenue YoY | 47.1% | 85.7% |
| Net Profit YoY | 153.5% | 43.2% |
| EPS (diluted) | $0.77 | $-0.10 |
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 | $61.1M | $41.8M | ||
| Q3 25 | $47.9M | $37.3M | ||
| Q2 25 | $46.7M | $38.1M | ||
| Q1 25 | $45.0M | $32.0M | ||
| Q4 24 | $41.6M | $22.5M | ||
| Q3 24 | $37.5M | $18.5M | ||
| Q2 24 | $34.3M | $16.4M | ||
| Q1 24 | $40.2M | $17.4M |
| Q4 25 | $6.3M | $-7.2M | ||
| Q3 25 | $851.0K | $-9.0M | ||
| Q2 25 | $5.0M | $-10.1M | ||
| Q1 25 | $1.8M | $-12.7M | ||
| Q4 24 | $2.5M | $-12.7M | ||
| Q3 24 | $3.3M | $-13.3M | ||
| Q2 24 | $1.4M | $-9.8M | ||
| Q1 24 | $8.6M | $-7.9M |
| Q4 25 | 34.4% | 52.0% | ||
| Q3 25 | 30.1% | 45.9% | ||
| Q2 25 | 35.8% | 46.6% | ||
| Q1 25 | 33.7% | 49.2% | ||
| Q4 24 | 33.9% | 66.2% | ||
| Q3 24 | 35.9% | 75.6% | ||
| Q2 24 | 30.6% | 74.0% | ||
| Q1 24 | 30.0% | 75.1% |
| Q4 25 | 18.6% | -12.1% | ||
| Q3 25 | 6.7% | -19.6% | ||
| Q2 25 | 16.9% | -21.1% | ||
| Q1 25 | 12.1% | -34.4% | ||
| Q4 24 | 13.4% | -51.0% | ||
| Q3 24 | 16.4% | -41.7% | ||
| Q2 24 | 9.1% | -51.7% | ||
| Q1 24 | 11.3% | -39.4% |
| Q4 25 | 10.3% | -17.2% | ||
| Q3 25 | 1.8% | -24.3% | ||
| Q2 25 | 10.6% | -26.6% | ||
| Q1 25 | 3.9% | -39.6% | ||
| Q4 24 | 6.0% | -56.4% | ||
| Q3 24 | 8.8% | -72.0% | ||
| Q2 24 | 4.2% | -59.8% | ||
| Q1 24 | 21.5% | -45.2% |
| Q4 25 | $0.77 | $-0.10 | ||
| Q3 25 | $0.10 | $-0.13 | ||
| Q2 25 | $0.61 | $-0.15 | ||
| Q1 25 | $0.23 | $-0.21 | ||
| Q4 24 | $0.31 | $-0.34 | ||
| Q3 24 | $0.40 | $-0.44 | ||
| Q2 24 | $0.18 | $-0.33 | ||
| Q1 24 | $1.07 | $-0.27 |
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 | $28.1M |
| Total DebtLower is stronger | $12.7M | $65.8M |
| Stockholders' EquityBook value | $85.8M | $22.4M |
| Total Assets | $217.0M | $141.6M |
| Debt / EquityLower = less leverage | 0.15× | 2.94× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.2M | $28.1M | ||
| Q3 25 | $17.3M | $28.0M | ||
| Q2 25 | $18.8M | $11.0M | ||
| Q1 25 | $15.7M | $20.2M | ||
| Q4 24 | $13.3M | $18.5M | ||
| Q3 24 | $9.5M | $20.9M | ||
| Q2 24 | $7.7M | $42.6M | ||
| Q1 24 | $5.8M | $47.7M |
| Q4 25 | $12.7M | $65.8M | ||
| Q3 25 | — | $65.7M | ||
| Q2 25 | — | $55.5M | ||
| Q1 25 | $15.2M | $55.3M | ||
| Q4 24 | — | $55.2M | ||
| Q3 24 | — | $46.0M | ||
| Q2 24 | — | $59.8M | ||
| Q1 24 | $15.2M | $59.4M |
| Q4 25 | $85.8M | $22.4M | ||
| Q3 25 | $80.2M | $27.4M | ||
| Q2 25 | $77.9M | $27.1M | ||
| Q1 25 | $72.1M | $35.5M | ||
| Q4 24 | $71.2M | $27.7M | ||
| Q3 24 | $68.6M | $9.4M | ||
| Q2 24 | $65.5M | $19.4M | ||
| Q1 24 | $65.7M | $27.7M |
| Q4 25 | $217.0M | $141.6M | ||
| Q3 25 | $189.0M | $145.5M | ||
| Q2 25 | $178.3M | $134.7M | ||
| Q1 25 | $165.2M | $142.0M | ||
| Q4 24 | $160.7M | $140.9M | ||
| Q3 24 | $157.8M | — | ||
| Q2 24 | $155.7M | $96.8M | ||
| Q1 24 | $155.7M | $103.8M |
| Q4 25 | 0.15× | 2.94× | ||
| Q3 25 | — | 2.40× | ||
| Q2 25 | — | 2.05× | ||
| Q1 25 | 0.21× | 1.56× | ||
| Q4 24 | — | 1.99× | ||
| Q3 24 | — | 4.90× | ||
| Q2 24 | — | 3.08× | ||
| Q1 24 | 0.23× | 2.15× |
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 | $908.0K |
| Free Cash FlowOCF − Capex | $12.4M | $692.0K |
| FCF MarginFCF / Revenue | 20.2% | 1.7% |
| Capex IntensityCapex / Revenue | 8.1% | 0.5% |
| Cash ConversionOCF / Net Profit | 2.74× | — |
| TTM Free Cash FlowTrailing 4 quarters | $12.3M | $-21.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $17.3M | $908.0K | ||
| Q3 25 | $-2.0M | $-785.0K | ||
| Q2 25 | $733.0K | $-3.5M | ||
| Q1 25 | $6.0M | $-17.0M | ||
| Q4 24 | $5.2M | $-8.6M | ||
| Q3 24 | $2.8M | $-5.4M | ||
| Q2 24 | $-73.0K | $-5.0M | ||
| Q1 24 | $7.1M | $-12.0M |
| Q4 25 | $12.4M | $692.0K | ||
| Q3 25 | $-4.6M | $-899.0K | ||
| Q2 25 | $-194.0K | $-3.8M | ||
| Q1 25 | $4.7M | $-17.2M | ||
| Q4 24 | $4.8M | $-8.7M | ||
| Q3 24 | $2.2M | $-5.8M | ||
| Q2 24 | $-662.0K | $-5.6M | ||
| Q1 24 | $4.2M | $-12.4M |
| Q4 25 | 20.2% | 1.7% | ||
| Q3 25 | -9.6% | -2.4% | ||
| Q2 25 | -0.4% | -9.9% | ||
| Q1 25 | 10.5% | -53.8% | ||
| Q4 24 | 11.6% | -38.6% | ||
| Q3 24 | 5.8% | -31.3% | ||
| Q2 24 | -1.9% | -34.0% | ||
| Q1 24 | 10.5% | -71.1% |
| Q4 25 | 8.1% | 0.5% | ||
| Q3 25 | 5.3% | 0.3% | ||
| Q2 25 | 2.0% | 0.7% | ||
| Q1 25 | 2.9% | 0.7% | ||
| Q4 24 | 0.8% | 0.4% | ||
| Q3 24 | 1.7% | 2.1% | ||
| Q2 24 | 1.7% | 3.7% | ||
| Q1 24 | 7.2% | 2.2% |
| 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× | — | ||
| Q1 24 | 0.82× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
