Stocks Comparison
Fuel Tech vs Perma-Pipe International: revenue, profit, margins and growth compared
Fuel Tech brought in $26.7M of revenue in fiscal 2025, Perma-Pipe International $210.9M in fiscal 2026. Revenue changed by +6.1% at Fuel Tech and +33.2% at Perma-Pipe International on the year before, so Perma-Pipe International grew faster. Fuel Tech kept -8.7% of its revenue as net profit, Perma-Pipe International 8.1%. Free cash flow was $2.3M at Fuel Tech and -$1.3M at Perma-Pipe International.
Side by side, latest fiscal year
| FTEK | PPIH | |
|---|---|---|
| Fiscal year ended | FY2025 (December 31, 2025) | FY2026 (January 31, 2026) |
| Revenue | $26.7M | $210.9M |
| Revenue growth | +6.1% | +33.2% |
| Net income | -$2.3M | $17M |
| Net margin | -8.7% | 8.1% |
| Free cash flow | $2.3M | -$1.3M |
| Free cash flow margin | 8.8% | -0.6% |
| Earnings per share (diluted) | -$0.08 | $2.09 |
| Cash | $11.9M | $18.7M |
| Debt | n/a | $12.7M |
| Price to earnings | n/a | 15.2 |
| Market value | $53.5M | $257.9M |
| Dividend yield | n/a | n/a |
| Rank by revenue in sector | #420 of 451 · Industrials | #354 of 451 · Industrials |
Over the years
Questions about Fuel Tech and Perma-Pipe International
Which is bigger by revenue, Fuel Tech or Perma-Pipe International?
Perma-Pipe International is bigger by revenue: $210.9M in fiscal 2026, against $26.7M for Fuel Tech in fiscal 2025.
Which keeps more of its revenue as profit, Fuel Tech or Perma-Pipe International?
Fuel Tech had a net margin of -8.7% in fiscal 2025; Perma-Pipe International had 8.1% in fiscal 2026.
Which grew revenue faster, Fuel Tech or Perma-Pipe International?
In their latest fiscal years revenue changed by +6.1% at Fuel Tech 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.