PERIMETER SOLUTIONS, INC.
In the published model solve dated 2026-Q2, anchored at $34.96, PERIMETER SOLUTIONS, INC. (PRM) is priced for today's economics sustained for ~14.3 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
- The reported operating line is misleading. Trailing GAAP operating income is negative, but that figure is dragged down by non-cash Founders advisory fees, not by a money-losing business. The first quarter of 2026 showed the real economics: net sales of $125.1 million and adjusted EBITDA of $41.2 million. - At about $38 no valuation family reaches the price. The price embeds roughly two decades of growth held at a self-funding ceiling, a bet beyond what any standard frame supports, so this is a
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281 institutional managers reported holding PRM in 13F filings for the quarter ended 2026-03-31. Together they hold about 78% of the company; the top 10 hold 50%. 50 opened new positions that quarter. Held by BlackRock, FMR (Fidelity), Vanguard Group, among others. On the short side, 4.8M shares were sold short as of the 2026-06-15 count, about 3% of shares outstanding (3.4 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
PRM's share count grew 190.1% over the past five years even with $168.20M spent on repurchases. It pays no dividend. Cash returned over the past three years: $91.64M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at PRM over the trailing three years: 2024: 3 buys totaling $300k; 2025: 1 buy totaling $3.56M. 12 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
PRM's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-04 | +10.7% | -36.7% |
| 2023-11-10 | +10.8% | +23.1% |
| 2024-02-23 | +2.6% | +21.7% |
| 2024-05-10 | -0.9% | +4.9% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
PRM's latest 8-K filings: 2026-07-31 (items 2.02, 9.01); 2026-05-28 (items 5.07); 2026-05-06 (items 2.02, 9.01); 2026-02-26 (items 2.02, 9.01); 2026-01-22 (items 7.01, 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.