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Ceco Environmental vs Perma-Pipe International Holdings: CECO and PPIH compared
Ceco Environmental is the larger company: $285M of revenue in its latest quarter (Q2 2026) against $59.6M for Perma-Pipe International Holdings (Q2 FY27). Ceco Environmental is growing faster (+54% against +24% a year earlier). Perma-Pipe International Holdings is more profitable, with an operating margin of 7.1% against -11.6%.
Where the money goes: CECO and PPIH
Ceco Environmental (CECO) · Q2 2026
Ceco Environmental, Q2 2026: revenue $285M (+54% year over year), operating margin -11.6%, net loss $34.5M, operating cash flow −$19.3M. The chart follows the revenue to costs, profit and cash.
Perma-Pipe International Holdings (PPIH) · Q2 FY27
Perma-Pipe International Holdings, Q2 FY27: revenue $59.6M (+24% year over year), operating margin 7.1%, net earnings $2.5M, operating cash flow $7.2M. The chart follows the revenue to costs, profit and cash.
| Ceco Environmental (CECO) | Perma-Pipe International Holdings (PPIH) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q2 FY27 |
| Revenue | $285M | $59.6M |
| Revenue growth, Y/Y | +54% | +24% |
| Gross margin | — | 29.2% |
| Operating margin | -11.6% | 7.1% |
| Net earnings | −$34.5M | $2.5M |
| Net margin | -12.1% | 4.3% |
| Operating cash flow | −$19.3M | $7.2M |
| Free cash flow | — | $5.3M |
Questions
Which is bigger, Ceco Environmental or Perma-Pipe International Holdings?
Ceco Environmental is the larger company: $285M of revenue in its latest quarter (Q2 2026) against $59.6M for Perma-Pipe International Holdings (Q2 FY27).
Is Ceco Environmental or Perma-Pipe International Holdings growing faster?
Ceco Environmental is growing faster (+54% against +24% a year earlier).
Which is more profitable, Ceco Environmental or Perma-Pipe International Holdings?
Perma-Pipe International Holdings is more profitable, with an operating margin of 7.1% against -11.6%.
More: Ceco Environmental earnings · how Ceco Environmental makes money · Perma-Pipe International Holdings earnings · how Perma-Pipe International Holdings makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 10, 2026; 10-Q filed Sep 9, 2026). Fiscal quarters can end on different dates. Not investment advice.