Perma-Pipe International Holdings Inc (PPIH) — Working Capital to Net Assets Ratio
Perma-Pipe International Holdings Inc (PPIH) has a Working Capital to Net Assets ratio of 63.0% as of January 2026. Working capital of $66.94 Million (current assets of $146.73 Million minus current liabilities of $79.79 Million) is measured against net assets of $106.30 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See PPIH FCF to total liabilities ratio to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Perma-Pipe International Holdings Inc Working Capital to Net Assets (1990–2026)
This chart shows how Perma-Pipe International Holdings Inc's Working Capital to Net Assets ratio has evolved across 37 annual periods from 1990 to 2026. As of January 2026, the ratio stands at 63.0%, reflecting working capital of $66.94 Million against net assets of $106.30 Million USD. See PPIH days of operational coverage to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Perma-Pipe International Holdings Inc (1990–2026)
The table below presents the year-by-year Working Capital to Net Assets ratio for Perma-Pipe International Holdings Inc from 1990 to 2026, covering 37 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see market value of Perma-Pipe International Holdings Inc.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2026 | 63.0% | $66.94 Million | $106.30 Million | $146.73 Million | $79.79 Million | ▼ -2.9 pp |
| 2025 | 65.9% | $54.74 Million | $83.11 Million | $108.80 Million | $54.06 Million | ▲ +8.8 pp |
| 2024 | 57.1% | $41.08 Million | $71.98 Million | $98.82 Million | $57.74 Million | ▼ -15.4 pp |
| 2023 | 72.5% | $41.87 Million | $57.78 Million | $85.66 Million | $43.79 Million | ▼ -1.0 pp |
| 2022 | 73.4% | $39.99 Million | $54.46 Million | $78.39 Million | $38.40 Million | ▲ +21.5 pp |
| 2021 | 52.0% | $25.62 Million | $49.31 Million | $53.88 Million | $28.25 Million | ▼ -4.5 pp |
| 2020 | 56.5% | $31.42 Million | $55.63 Million | $64.25 Million | $32.84 Million | ▲ +6.4 pp |
| 2019 | 50.0% | $25.87 Million | $51.70 Million | $62.96 Million | $37.09 Million | ▲ +5.4 pp |
| 2018 | 44.7% | $23.14 Million | $51.81 Million | $62.32 Million | $39.18 Million | ▼ -5.5 pp |
| 2017 | 50.2% | $29.82 Million | $59.41 Million | $57.82 Million | $28.00 Million | ▲ +2.5 pp |
| 2016 | 47.7% | $32.96 Million | $69.05 Million | $97.05 Million | $64.08 Million | ▲ +17.5 pp |
| 2015 | 30.3% | $22.18 Million | $73.26 Million | $87.60 Million | $65.43 Million | ▼ -31.9 pp |
| 2014 | 62.1% | $47.61 Million | $76.64 Million | $101.09 Million | $53.48 Million | ▼ -2.6 pp |
| 2013 | 64.8% | $35.14 Million | $54.25 Million | $84.35 Million | $49.21 Million | ▲ +5.2 pp |
| 2012 | 59.6% | $42.95 Million | $72.12 Million | $82.43 Million | $39.49 Million | ▼ -15.8 pp |
| 2011 | 75.4% | $58.81 Million | $78.05 Million | $99.07 Million | $40.25 Million | ▼ -4.8 pp |
| 2010 | 80.1% | $57.03 Million | $71.16 Million | $95.31 Million | $38.28 Million | ▼ -10.2 pp |
| 2009 | 90.3% | $57.98 Million | $64.18 Million | $128.25 Million | $70.27 Million | ▲ +24.2 pp |
| 2008 | 66.1% | $39.54 Million | $59.78 Million | $95.95 Million | $56.40 Million | ▼ -13.0 pp |
| 2007 | 79.2% | $30.73 Million | $38.82 Million | $80.67 Million | $49.94 Million | ▼ -10.6 pp |
| 2006 | 89.7% | $28.54 Million | $31.81 Million | $52.78 Million | $24.23 Million | ▲ +5.5 pp |
| 2005 | 84.2% | $26.33 Million | $31.27 Million | $51.62 Million | $25.29 Million | ▲ +51.6 pp |
| 2004 | 32.6% | $8.76 Million | $26.87 Million | $41.88 Million | $33.12 Million | ▼ -57.5 pp |
| 2003 | 90.1% | $23.99 Million | $26.61 Million | $45.08 Million | $21.09 Million | ▲ +51.1 pp |
| 2002 | 39.1% | $14.84 Million | $37.99 Million | $45.61 Million | $30.77 Million | ▼ -36.9 pp |
| 2001 | 76.0% | $29.48 Million | $38.80 Million | $55.97 Million | $26.49 Million | ▲ +2.6 pp |
| 2000 | 73.3% | $27.74 Million | $37.83 Million | $51.49 Million | $23.75 Million | ▼ -8.2 pp |
| 1999 | 81.5% | $29.50 Million | $36.18 Million | $52.20 Million | $22.70 Million | ▼ -6.1 pp |
| 1998 | 87.6% | $31.10 Million | $35.50 Million | $50.80 Million | $19.70 Million | ▲ +3.1 pp |
| 1997 | 84.5% | $27.80 Million | $32.90 Million | $45.20 Million | $17.40 Million | ▲ +9.3 pp |
| 1996 | 75.2% | $19.70 Million | $26.20 Million | $36.90 Million | $17.20 Million | ▲ +2.8 pp |
| 1995 | 72.4% | $17.30 Million | $23.90 Million | $33.60 Million | $16.30 Million | ▲ +5.4 pp |
| 1994 | 67.0% | $14.20 Million | $21.20 Million | $26.10 Million | $11.90 Million | ▼ -15.7 pp |
| 1993 | 82.7% | $8.60 Million | $10.40 Million | $10.50 Million | $1.90 Million | ▼ -4.3 pp |
| 1992 | 87.0% | $8.00 Million | $9.20 Million | $10.30 Million | $2.30 Million | ▲ +1.9 pp |
| 1991 | 85.1% | $7.40 Million | $8.70 Million | $9.80 Million | $2.40 Million | ▼ -0.1 pp |
| 1990 | 85.1% | $6.30 Million | $7.40 Million | $8.30 Million | $2.00 Million | — |