PPIH vs REFI

Comparison between Perma-Pipe International Holdings Inc (PPIH, Company) and Chicago Atlantic Real Estate Finance Inc (REFI, Company).

PPIH is from the Industrials sector, while REFI is from the Real Estate sector.

5-Year PerformancePPIH has outperformed REFI, delivering a return of +30.1% compared to +3.0%

PPIH vs REFI - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	PPIH(COMPANY)	REFI(COMPANY)
Market Cap	$210M	$209M
Max Drawdown	58.53%	51.71%
Sharpe Ratio	0.30	-0.51
5Y Beta	1.63	0.41
Industry	Building Products & Equipment	Reit - Mortgage
P/E Ratio	15.06	6.79
Forward P/E	27.62	5.25
PEG Ratio	1.22	N/A
Dividend Yield	N/A	18.80%
Debt to Equity	32.06%	16.28%
Free Cash Flow Yield	1.80%	11.62%
P/S Ratio	0.98	5.06
P/B Ratio	2.12	0.82

Market Cap

Winner

PPIH

$210M

REFI

$209M

Max Drawdown

PPIH

58.53%

Winner

REFI

51.71%

Sharpe Ratio

Winner

PPIH

0.30

REFI

-0.51

5Y Beta

PPIH

1.63

Winner

REFI

0.41

Industry

PPIH

Building Products & Equipment

REFI

Reit - Mortgage

P/E Ratio

PPIH

15.06

Winner

REFI

6.79

Forward P/E

PPIH

27.62

Winner

REFI

5.25

PEG Ratio

PPIH

1.22

REFI

N/A

Dividend Yield

PPIH

N/A

REFI

18.80%

Debt to Equity

PPIH

32.06%

Winner

REFI

16.28%

Free Cash Flow Yield

PPIH

1.80%

Winner

REFI

11.62%

P/S Ratio

Winner

PPIH

0.98

REFI

5.06

P/B Ratio

PPIH

2.12

Winner

REFI

0.82

PPIH vs REFI - Historical Returns

Returns include dividend reinvestment.

Period	PPIH	REFI
1 month	+1.64%	-4.90%
3 months	-22.42%	-14.02%
6 months	-17.39%	-9.34%
1 year	+2.52%	-10.74%
5 years(CAGR)	+30.08%	+3.01%
10 years(CAGR)	+12.86%	N/A
Max(CAGR)	+13.97%	+3.01%

Winner

PPIH

+1.64%

REFI

-4.90%

PPIH

-22.42%

Winner

REFI

-14.02%

PPIH

-17.39%

Winner

REFI

-9.34%

Winner

PPIH

+2.52%

REFI

-10.74%

5Y(CAGR)

Winner

PPIH

+30.08%

REFI

+3.01%

10Y(CAGR)

PPIH

+12.86%

REFI

N/A

Max(CAGR)

Winner

PPIH

+13.97%

REFI

+3.01%

PPIH vs REFI - Annual Returns (2016 - 2026)

Returns include dividend reinvestment.

Year	PPIH	REFI
2026	-14.98%	-10.52%
2025	+109.52%	-9.46%
2024	+84.11%	+9.91%
2023	-14.51%	+24.48%
2022	+9.50%	+1.58%
2021	+41.14%	+0.97%
2020	-33.95%	N/A
2019	+6.71%	N/A
2018	-1.69%	N/A
2017	+11.80%	N/A
2016	+24.42%	N/A

PPIH vs REFI Drawdown Comparison

The maximum drawdown for PPIH was -58.53%, occurring on Nov 13, 2023. Recovery took 626 trading sessions.

The maximum drawdown for REFI was -26.51%, occurring on Mar 15, 2023. Recovery took 454 trading sessions.

The current PPIH drawdown is -26.35%. The current REFI drawdown is -22.43%.

Rank	PPIH	REFI
#1	-58.53% May 25, 2022 - Nov 20, 2024	-26.51% Feb 28, 2022 - Dec 18, 2023
#2	-48.00% Jun 13, 2018 - Apr 20, 2022	-24.97% Mar 3, 2025 - Jul 31, 2026
#3	-45.77% Dec 11, 2024 - Jun 13, 2025	-9.51% Jul 17, 2024 - Nov 21, 2024
#4	-34.17% Apr 14, 2026 - Jul 29, 2026	-7.26% Dec 27, 2023 - Jul 15, 2024
#5	-31.45% Sep 10, 2025 - Dec 26, 2025	-6.30% Jan 20, 2022 - Feb 28, 2022
#6	-21.41% Jan 27, 2017 - Nov 29, 2017	-3.12% Jan 21, 2025 - Feb 10, 2025
#7	-17.17% Feb 24, 2026 - Apr 13, 2026	-2.99% Feb 18, 2025 - Feb 25, 2025
#8	-15.97% Jul 22, 2025 - Aug 5, 2025	-2.97% Dec 8, 2021 - Dec 31, 2021
#9	-14.81% May 6, 2022 - May 25, 2022	-2.82% Jan 3, 2025 - Jan 17, 2025
#10	-13.81% Jan 6, 2016 - Feb 1, 2016	-2.78% Dec 5, 2024 - Jan 3, 2025
#11	-13.44% Mar 17, 2016 - May 25, 2016	-2.38% Dec 19, 2023 - Dec 26, 2023
#12	-12.43% Dec 26, 2025 - Feb 11, 2026	-1.23% Dec 2, 2024 - Dec 5, 2024
#13	-10.25% May 31, 2016 - Aug 8, 2016	-0.88% Feb 11, 2025 - Feb 14, 2025
#14	-9.77% Jan 23, 2018 - May 10, 2018	-0.39% Jan 11, 2022 - Jan 13, 2022
#15	-8.38% Dec 7, 2016 - Jan 9, 2017	-0.31% Nov 25, 2024 - Nov 29, 2024