WallStSmart

Madison Air Solutions Corporation (MAIR)vsPerma-Pipe International Holdings Inc (PPIH)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Madison Air Solutions Corporation generates 1594% more annual revenue ($3.57B vs $210.93M). PPIH leads profitability with a 8.1% profit margin vs 2.6%. PPIH trades at a lower P/E of 15.0x. PPIH earns a higher WallStSmart Score of 65/100 (B-).

MAIR

Hold

44

out of 100

Grade: D

Growth: 7.3Profit: 7.0Value: 4.0Quality: 5.0
Piotroski: 3/9

PPIH

Strong Buy

65

out of 100

Grade: B-

Growth: 8.7Profit: 7.0Value: 5.0Quality: 6.5
Piotroski: 3/9Altman Z: 2.60

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

MAIR2 strengths · Avg: 10.0/10
Return on EquityProfitability
277.5%10/10

Every $100 of equity generates 277 in profit

Revenue GrowthGrowth
33.8%10/10

Revenue surging 33.8% year-over-year

PPIH5 strengths · Avg: 8.6/10
EPS GrowthGrowth
171.8%10/10

Earnings expanding 171.8% YoY

Return on EquityProfitability
21.8%9/10

Every $100 of equity generates 22 in profit

P/E RatioValuation
15.0x8/10

Attractively priced relative to earnings

Price/BookValuation
2.9x8/10

Reasonable price relative to book value

Revenue GrowthGrowth
22.5%8/10

Revenue surging 22.5% year-over-year

Areas to Watch

MAIR4 concerns · Avg: 3.0/10
EPS GrowthGrowth
0.0%4/10

0.0% earnings growth

Profit MarginProfitability
2.6%3/10

2.6% margin — thin

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

P/E RatioValuation
111.5x2/10

Premium valuation, high expectations priced in

PPIH3 concerns · Avg: 2.7/10
Market CapQuality
$207.02M3/10

Smaller company, higher risk/reward

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

PEG RatioValuation
2.822/10

Expensive relative to growth rate

Comparative Analysis Report

WallStSmart Research

Bull Case : MAIR

The strongest argument for MAIR centers on Return on Equity, Revenue Growth. Revenue growth of 33.8% demonstrates continued momentum.

Bull Case : PPIH

The strongest argument for PPIH centers on EPS Growth, Return on Equity, P/E Ratio. Revenue growth of 22.5% demonstrates continued momentum.

Bear Case : MAIR

The primary concerns for MAIR are EPS Growth, Profit Margin, Piotroski F-Score. A P/E of 111.5x leaves little room for execution misses. Thin 2.6% margins leave little buffer for downturns.

Bear Case : PPIH

The primary concerns for PPIH are Market Cap, Piotroski F-Score, PEG Ratio.

Key Dynamics to Monitor

MAIR profiles as a hypergrowth stock while PPIH is a growth play — different risk/reward profiles.

MAIR is growing revenue faster at 33.8% — sustainability is the question.

MAIR generates stronger free cash flow (50M), providing more financial flexibility.

Monitor BUILDING PRODUCTS & EQUIPMENT industry trends, competitive dynamics, and regulatory changes.

Bottom Line

PPIH scores higher overall (65/100 vs 44/100) and 22.5% revenue growth. Both earn "Strong Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Madison Air Solutions Corporation

INDUSTRIALS · BUILDING PRODUCTS & EQUIPMENT · USA

Madison Air Solutions Corporation (MAIR) is a leading provider of innovative air handling and ventilation systems tailored for both residential and commercial applications. The company focuses on delivering high-efficiency air quality solutions that are designed to reduce energy consumption while enhancing indoor environmental quality. With a commitment to sustainability and cutting-edge technology, Madison Air continues to expand its market presence, driven by a strong pipeline of innovative products and strategic partnerships. As the demand for energy-efficient and environmentally-friendly solutions grows, MAIR is well-positioned to capitalize on emerging market opportunities in the HVAC industry.

Perma-Pipe International Holdings Inc

INDUSTRIALS · BUILDING PRODUCTS & EQUIPMENT · USA

Perma-Pipe International Holdings, Inc. designs, manufactures, and sells leak detection systems and specialty piping. The company is headquartered in Niles, Illinois.

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