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DONALDSON vs Perma-Pipe International: revenue, profit, margins and growth compared

DONALDSON brought in $3.9B of revenue in fiscal 2026, Perma-Pipe International $210.9M in fiscal 2026. Revenue changed by +5.3% at DONALDSON and +33.2% at Perma-Pipe International on the year before, so Perma-Pipe International grew faster. DONALDSON kept 11.7% of its revenue as net profit, Perma-Pipe International 8.1%. Free cash flow was $426.3M at DONALDSON and -$1.3M at Perma-Pipe International.

Side by side, latest fiscal year

DCIPPIH
Fiscal year endedFY2026 (July 31, 2026)FY2026 (January 31, 2026)
Revenue$3.9B$210.9M
Revenue growth+5.3%+33.2%
Net income$453.8M$17M
Net margin11.7%8.1%
Free cash flow$426.3M-$1.3M
Free cash flow margin11.0%-0.6%
Earnings per share (diluted)$3.85$2.09
Cash$250.4M$18.7M
Debt$1.3B$12.7M
Price to earnings22.715.2
Market value$10.1B$257.9M
Dividend yield1.42%n/a
Rank by revenue in sector#147 of 451 · Industrials#354 of 451 · Industrials

Over the years

Revenue
DCI FY2019: $2.8BDCI FY2020: $2.6BDCI FY2021: $2.9BDCI FY2022: $3.3BDCI FY2023: $3.4BDCI FY2024: $3.6BDCI FY2025: $3.7BDCI FY2026: $3.9BPPIH FY2019: $129MPPIH FY2019: $127.7MPPIH FY2020: $84.7MPPIH FY2021: $138.6MPPIH FY2023: $142.6MPPIH FY2024: $150.7MPPIH FY2025: $158.4MPPIH FY2026: $210.9MFY19FY20FY21FY22FY23FY24FY25FY26
DCI $3.9BPPIH $210.9M
Net income
DCI FY2019: $267.2MDCI FY2020: $257MDCI FY2021: $286.9MDCI FY2022: $332.8MDCI FY2023: $358.8MDCI FY2024: $414MDCI FY2025: $367MDCI FY2026: $453.8MPPIH FY2019: -$550KPPIH FY2019: $3.6MPPIH FY2020: -$7.6MPPIH FY2021: $6.1MPPIH FY2023: $5.9MPPIH FY2024: $10.5MPPIH FY2025: $9MPPIH FY2026: $17MFY19FY20FY21FY22FY23FY24FY25FY26
DCI $453.8MPPIH $17M
Net margin
DCI FY2019: 9.4%DCI FY2020: 10.0%DCI FY2021: 10.1%DCI FY2022: 10.1%DCI FY2023: 10.5%DCI FY2024: 11.5%DCI FY2025: 9.9%DCI FY2026: 11.7%PPIH FY2019: -0.4%PPIH FY2019: 2.8%PPIH FY2020: -9.0%PPIH FY2021: 4.4%PPIH FY2023: 4.2%PPIH FY2024: 6.9%PPIH FY2025: 5.7%PPIH FY2026: 8.1%FY19FY20FY21FY22FY23FY24FY25FY26
DCI 11.7%PPIH 8.1%
Revenue growth
DCI FY2020: -9.2%DCI FY2021: +10.5%DCI FY2022: +15.9%DCI FY2023: +3.8%DCI FY2024: +4.5%DCI FY2025: +2.9%DCI FY2026: +5.3%PPIH FY2019: -1.0%PPIH FY2020: -33.7%PPIH FY2021: +63.6%PPIH FY2023: +2.9%PPIH FY2024: +5.7%PPIH FY2025: +5.1%PPIH FY2026: +33.2%FY19FY20FY21FY22FY23FY24FY25FY26
DCI +5.3%PPIH +33.2%
Free cash flow
DCI FY2019: $195.1MDCI FY2020: $262.6MDCI FY2021: $342.9MDCI FY2022: $167.3MDCI FY2023: $426MDCI FY2024: $406.9MDCI FY2025: $339.9MDCI FY2026: $426.3MPPIH FY2019: $3.6MPPIH FY2019: $2.2MPPIH FY2020: -$1.8MPPIH FY2021: -$4.8MPPIH FY2023: -$8.2MPPIH FY2024: $3.6MPPIH FY2025: $11.1MPPIH FY2026: -$1.3MFY19FY20FY21FY22FY23FY24FY25FY26
DCI $426.3MPPIH -$1.3M

Fiscal years as each company reports them; the two may end in different months.

Questions about DONALDSON and Perma-Pipe International

Which is bigger by revenue, DONALDSON or Perma-Pipe International?

DONALDSON is bigger by revenue: $3.9B in fiscal 2026, against $210.9M for Perma-Pipe International in fiscal 2026.

Which keeps more of its revenue as profit, DONALDSON or Perma-Pipe International?

DONALDSON had a net margin of 11.7% in fiscal 2026; Perma-Pipe International had 8.1% in fiscal 2026.

Which grew revenue faster, DONALDSON or Perma-Pipe International?

In their latest fiscal years revenue changed by +5.3% at DONALDSON and +33.2% at Perma-Pipe International.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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