Perimeter Solutions
Supplies wildfire retardants, firefighting services, and specialty industrial products.
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Profile
Sells fire retardants, suppressants, equipment, and life-safety systems through Fire Safety; Specialty Products supplies lubricant-additive chemicals, electronic assemblies, and medical-device manufacturing machinery and aftermarket products. Revenue is U.S.-centered, with wildfire agencies and acquisition-built industrial businesses defining the portfolio.
Supplies firefighting products through Fire Safety and a collection of industrial businesses through Specialty Products. PHOS-CHEK and FIRE-TROL long-term retardants, Class B firefighting foams including fluorine-free products, and airbase equipment and services cover wildland, industrial, and structural fire response. Monaco adds emergency-management and life-safety systems for U.S. government facilities.
Specialty Products spans phosphorus pentasulfide for lubricant additives, IMS electronic and electromechanical assemblies and aftermarket repair, and MMT machinery, parts, consumables, and services used to manufacture complex medical devices. Operations reach customers globally but remain U.S.-centered. Fire Safety couples chemical formulation with custom equipment, airbase staffing, and emergency resupply. Revenue depends heavily on U.S. wildfire agencies, fire-season severity, and air-tanker capacity, while products face agency qualification and environmental requirements.
Company facts
Key statistics
Year to date +11.2% · Average volume (30d) 1.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| May 11, 2026 | Morgan Stanley | Reiterate | Overweight | $35 | $40 | |
| May 7, 2026 | UBS | Reiterate | Buy | $31 | $34 | |
| Mar 31, 2026 | UBS | Upgrade | Neutral | Buy | ||
| Jan 12, 2026 | UBS | Downgrade | Buy | Neutral | $25 | $31 |
| Dec 15, 2025 | Morgan Stanley | Target | $27 | $35 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 31, 2026Q2 FY26 | $0.43 | $0.35 | −19.2% | $216.9M | $213.8M | −1.4% | −17.78% |
| May 6, 2026Q1 FY26 | $0.02 | $0.06 | +200.0% | $121.8M | $125.1M | +2.7% | +7.11% |
| Feb 26, 2026Q4 FY25 | $0.09 | $0.13 | +44.4% | $94.0M | $102.8M | +9.3% | −0.09% |
| Oct 30, 2025Q3 FY25 | $0.68 | $0.82 | +20.6% | $94.0M | $315.4M | +235.4% | −9.05% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $72.0M | $162.6M | $315.4M | $102.8M | $125.1M | $213.8M | |
| Gross profit | $28.2M | $101.5M | $183.9M | $61.6M | $28.2M | $93.8M | |
| Operating income | −$77.8M | −$26.2M | −$87.3M | −$9.6M | $72.5M | −$203.0M | |
| Net income | $56.7M | −$32.2M | −$90.7M | −$140.2M | $72.9M | −$181.6M | |
| Diluted EPS | $0.36 | −$0.22 | −$0.62 | −$0.94 | $0.44 | −$1.11 | |
| Gross margin | 39.1% | 62.4% | 58.3% | 59.9% | 22.5% | 43.9% | |
| Operating margin | -108.0% | -16.1% | -27.7% | -9.3% | 58.0% | -95.0% |
Fiscal years (4-quarter sums)FY21 $362.3M · FY22 $360.5M · FY23 $322.1M · FY24 $561.0M · FY25 $652.9M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $82.8M · Total debt $1.37B · Total assets $3.24B · Shareholders' equity $1.02B
Dividends
No dividends on record.
Ownership
Shares outstanding 163.13M · Float 149.43M · 91.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Windacre Partnership LLC · 10 percent owner | 16.15M | 9.90% | Form 4 | Jun 30, 2026 |
| Principal Financial Group Inc | 14.01M | 8.59% | 13F | Aug 4, 2026 |
| BlackRock, Inc. | 12.17M | 7.46% | 13F | Aug 7, 2026 |
| FMR LLC | 9.60M | 5.89% | 13F | Aug 13, 2026 |
| William N. Jr Thorndike · director | 8.54M | 5.23% | Form 4 | Mar 11, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 30, 2026 | Windacre Partnership LLC | 10 percent owner | −1,875,000 | $33.90 |
| Jun 29, 2026 | Windacre Partnership LLC | 10 percent owner | −437,500 | $33.00 |
| Jun 26, 2026 | Windacre Partnership LLC | 10 percent owner | −3,393,479 | $34.66 |
| May 22, 2026 | Haitham Khouri | director, officer: Chief Executive Officer | −117,511 | $31.19 |
| May 21, 2026 | Haitham Khouri | director, officer: Chief Executive Officer | −91,724 | $31.91 |
Peers
- Johnson Controls
Industrial foam and suppression systems rival
- Nordson
Medical-device components and equipment overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Perimeter Solutions | $30.54 | −0.20% | $4.99B | — | 18.2 | 6.6 | +31.5% |
| Johnson Controls | $139.59 | +0.01% | $84.56B | 24.3 | 24.2 | 3.4 | +9.3% |
| Nordson | $324.59 | +0.01% | $18.09B | 32.8 | 25.8 | 6.1 | +10.3% |
| Median | 28.6 | 25.0 | 4.7 | +9.8% |




