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Perma-Fix
(NASDAQ:PESI)
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Rating:50Neutral
Price Target:
$13.50
▼(-30.05% Downside)
Action:Reiterated
Date:09/22/26
PESI’s score is held down primarily by deteriorating profitability and substantial cash burn, which outweigh the balance-sheet strength. The earnings call adds some support via improving backlog visibility and strengthened liquidity, but near-term operational underperformance and ramp/timing risks remain. Technicals and valuation are neutral-to-weak, offering limited offset.
Positive Factors
DOE Hanford positioning
Positioning in a major DOE Hanford waste program could provide a durable avenue for multi-year demand. The master IDIQ’s large ceiling and referenced volumes support strategic relevance, although future revenue still depends on task orders, approvals, and execution.
Negative Factors
Severe profitability deterioration
Recent profitability has deteriorated sharply, with lower revenue, negative gross profit, deep operating losses, and a much wider net loss. This weak earnings base reduces internally generated funding for growth and indicates that contract mix, volumes, or costs must improve materially.
Read all positive and negative factors
Positive Factors
Negative Factors
DOE Hanford positioning
Positioning in a major DOE Hanford waste program could provide a durable avenue for multi-year demand. The master IDIQ’s large ceiling and referenced volumes support strategic relevance, although future revenue still depends on task orders, approvals, and execution.
Read all positive factors
Perma-Fix (PESI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$282.63M
Dividend YieldN/A
Average Volume (3M)340.88K
Price to Earnings (P/E)―
Beta (1Y)1.11
Revenue Growth-4.73%
EPS Growth0.30%
CountryUS
Employees300
SectorIndustrials
Sector Strength72
IndustryWaste Management
Share Statistics
EPS (TTM)-1.13
Shares Outstanding21,218,351
10 Day Avg. Volume305,916
30 Day Avg. Volume340,879
Financial Highlights & Ratios
PEG Ratio0.38
Price to Book (P/B)4.64
Price to Sales (P/S)3.77
P/FCF Ratio-15.04
Enterprise Value/Market Cap0.95
Enterprise Value/Revenue4.69
Enterprise Value/Gross Profit-163.16
Enterprise Value/Ebitda-16.69
Forecast
1Y Price Target
$30.00Price Target Upside55.44% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.86
Revenue Forecast (FY)$59.10M
Perma-Fix Business Overview & Revenue Model
Company Description
Perma-Fix Environmental Services, Inc., operating through its various subsidiaries, functions as a U.S.-based company offering specialized expertise in environmental solutions and technology. Its operations are divided into three core divisions: T...
How the Company Makes Money
Perma-Fix primarily makes money by providing fee-based waste management and environmental services for specialized waste streams (e.g., hazardous, radiological, and mixed waste). Revenue is generally earned through customer contracts and service o...
Perma-Fix Earnings Call Summary
Earnings Call Date:Aug 12, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 31, 2027
Earnings Call Sentiment Neutral
The call presents a mixed but cautiously constructive outlook. Short-term financial results were disappointing (Q2 revenue decline, widened net loss and margin compression) driven primarily by timing mismatches, delayed processing directives from a customer, and slower-than-targeted DFLAW throughput. Offsetting these near-term negatives are significant strategic and operational milestones: Perma-Fix is explicitly positioned in DOE public plans, has begun receiving DFLAW effluent post-quarter, achieved meaningful backlog growth (treatment backlog +29% QoQ), strong Services growth (+44% YoY), strengthened liquidity through a ~$21M equity raise, and is investing in permit and capacity upgrades to pursue a multi-year Hanford grouting program (company-level plans to scale from current 1.2M gal/year permit toward DOE targets up to ~9M gal/year by 2030). Given the material strategic progress alongside tangible near-term financial headwinds, the overall tone of the call is balanced with cautious optimism for the second half of 2026 and beyond.Positive Updates
Strategic Positioning on Major DOE IDIQ
H2C awarded a master IDIQ for Hanford tank waste operations with a contract ceiling reported at approximately $4.3–$4.4 billion and potential cumulative volumes referenced (public materials show up to 50 million gallons). Perma-Fix Northwest is named in DOE presentations as the grouting provider for EMF secondary waste effluent and is positioned as a near-site grouting option (no new on-site facility required).
Negative Updates
Quarter Below Expectations — Revenue Decline
Second quarter revenue was $12.9M vs $14.6M in prior-year quarter, a decline of approximately 11.6% year-over-year.
Read all updates
Q2-2026 Updates
Positive
Negative
Strategic Positioning on Major DOE IDIQ
H2C awarded a master IDIQ for Hanford tank waste operations with a contract ceiling reported at approximately $4.3–$4.4 billion and potential cumulative volumes referenced (public materials show up to 50 million gallons). Perma-Fix Northwest is named in DOE presentations as the grouting provider for EMF secondary waste effluent and is positioned as a near-site grouting option (no new on-site facility required).
Read all positive updates
Company Guidance
Management acknowledged a disappointing Q2 (revenue $12.9M; net loss $6.2M; loss per share $0.32 vs. prior-year revenue $14.6M and loss per share $0.15) but provided constructive guidance: treatment backlog grew 29% to $15.7M (from $12.2M) and services backlog exceeds $17M over 18 months, with management saying on-site delayed processing will be caught up by end of Q3 and DFLAW-related receipts will build through year‑end (DFLAW averaging ~10,000 gal/month with 35,000 gal in July), task orders under the new H2C master subcontract become eligible in Jan 2027, DOE expects ~60,000 gal/month available for grouting beginning Q4 ’26 rising to ~130,000 gal/month by 2028 and AMPS to reach ~300,000 gal/month in 2028, Perma‑Fix Northwest is currently permitted for 1.2M gal/year (storage ~650k gal, planned permit increase to ~800k and facility upgrades in final design to be ready by Q3 2027 to support DOE’s 9M gal/year target by 2030 and a DOE requirement to treat 100,800 gal/week over seven weeks (~5.24M gal/yr equivalent)), and liquidity was strengthened with ~ $21M net equity proceeds in May, $20.5M cash at quarter end, $18.4M working capital, ~$2.1M total debt (credit extended to May 2030), with management expecting existing liquidity, anticipated operating cash flows and borrowing availability to fund operations for the next 12 months.Perma-Fix Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
66
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 57.18M | 61.67M | 59.12M | 89.73M | 70.60M | 72.19M |
| Gross Profit | -1.64M | 5.92M | 2.00K | 16.37M | 9.61M | 6.82M |
| EBITDA | -16.07M | -8.59M | -12.90M | 3.83M | -1.30M | -864.00K |
| Net Income | -21.18M | -13.78M | -19.98M | 485.00K | -3.82M | 835.00K |
Balance Sheet | ||||||
| Total Assets | 101.84M | 88.03M | 97.25M | 78.75M | 70.90M | 77.30M |
| Cash, Cash Equivalents and Short-Term Investments | 20.50M | 11.77M | 28.98M | 7.50M | 1.87M | 4.44M |
| Total Debt | 5.22M | 4.32M | 4.86M | 5.87M | 3.51M | 4.64M |
| Total Liabilities | 43.51M | 37.90M | 34.86M | 39.37M | 33.37M | 36.72M |
| Stockholders Equity | 58.33M | 50.14M | 62.39M | 39.38M | 37.53M | 40.58M |
Cash Flow | ||||||
| Free Cash Flow | -21.81M | -15.46M | -18.82M | 4.43M | -1.58M | -8.41M |
| Operating Cash Flow | -15.72M | -10.75M | -14.74M | 6.47M | -553.00K | -6.84M |
| Investing Cash Flow | -6.46M | -4.95M | -4.13M | -2.04M | -997.00K | -1.56M |
| Financing Cash Flow | 20.57M | -981.00K | 40.95M | 1.70M | -921.00K | 4.94M |
Perma-Fix Technical Analysis
Negative
19.30
Price Trends
15.81
Negative
15.28
Negative
13.90
Negative
Market Momentum
-0.84
Negative
43.53
Neutral
74.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PESI, the sentiment is Negative. The current price of 19.3 is above the 20-day moving average (MA) of 13.40, above the 50-day MA of 15.81, and above the 200-day MA of 13.90, indicating a bearish trend. The MACD of -0.84 indicates Negative momentum. The RSI at 43.53 is Neutral, neither overbought nor oversold. The STOCH value of 74.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PESI.
Perma-Fix Risk Analysis
Perma-Fix disclosed 40 risk factors in its most recent earnings report. Perma-Fix reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Perma-Fix Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $91.81B | 30.18 | 30.85% | 1.59% | 5.19% | 19.97% | |
74 Outperform | $72.35B | 32.68 | 18.47% | 1.08% | 3.21% | 4.30% | |
68 Neutral | $16.31B | 30.96 | 18.27% | ― | 10.09% | 38.12% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | $5.75B | 968.99 | 0.36% | ― | 13.59% | -50.47% | |
50 Neutral | $282.63M | -11.79 | -40.97% | ― | -4.73% | 0.30% | |
49 Neutral | $535.05M | -1.17 | 918.96% | 79.03% | -22.51% | -698.56% |
* Industrials Sector Average
PESI
Perma-Fix
12.45
-1.24
-9.06%
CWST
Casella Waste
93.33
4.76
5.37%
CLH
Clean Harbors
302.12
91.61
43.52%
RSG
Republic Services
244.04
38.27
18.60%
WM
Waste Management
233.45
36.96
18.81%
NVRI
Enviri Corporation
18.42
2.25
13.91%
Perma-Fix Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Perma-Fix Releases Updated September 2026 Investor Presentation
Positive
Sep 22, 2026
On September 22, 2026, Perma-Fix Environmental Services, Inc. made an updated investor presentation available to the market, posting the September 2026 deck on its website for shareholders and analysts. The move signaled the company’s effort...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.