Perimeter Solutions Inc (PRM)

Perimeter Solutions' stock experienced a significant increase of 116.94% from January 2, 2025, to December 31, 2025, but dropped by 6.2% on January 12, 2026. UBS Group downgraded Perimeter Solutions from a "buy" rating to a "neutral" rating, though they increased their target price from $30.00 to $31.00 on January 12, 2026. Zacks Research cut the stock from a "strong-buy" rating to a "hold" rating on December 17, 2025. Morgan Stanley set a target price of $35.00 for the shares on December 15, 2025. Perimeter Solutions announced a proposed offering of $550 million in Senior Secured Notes on December 15, 2025. On December 10, 2025, the company announced an agreement to acquire MMT for $685 million. The company reported strong financial results for its third quarter of 2025 on October 30, 2025, with EPS of $0.82 and revenue of $315.4 million, exceeding analyst estimates. Second-quarter 2025 earnings, reported on August 7, 2025, also showed robust growth, particularly in the Fire Safety segment. First-quarter 2025 earnings, reported on May 8, 2025, indicated a strong start to the fiscal year, driven by the Fire Safety segment.

Demand for Perimeter Solutions' fire safety products exhibits seasonality driven by wildfire trends, which are becoming more frequent, more severe, and their seasons are extending due to climate change. The demand for these products is considered non-discretionary, as they are essential tools for government agencies in wildfire suppression efforts. The Specialty Products segment is less directly impacted by wildfire seasonality and is more tied to global industrial production and vehicle miles traveled.

Perimeter Solutions, Inc. (PRM) is a global solutions provider specializing in fire safety and specialty chemicals, operating within the Basic Materials sector. The company has two primary segments: Fire Safety and Specialty Products. The Fire Safety segment formulates and manufactures fire management products, including long-term fire retardants, foam concentrates, and water-enhancing gels, and provides specialized equipment and services to support firefighting operations. The Specialty Products segment focuses on non-fire safety markets, with its main product being Phosphorus Pentasulfide (P2S5), used in lubricant additives, pesticide and mining chemicals, and emerging electric battery technologies. This segment also includes Intelligent Manufacturing Solutions (IMS), which manufactures electronic or electro-mechanical components for various end markets.

Perimeter Solutions has a global operational and sales presence, with manufacturing facilities in the United States and Western Europe, and worldwide distribution capabilities. The company's headquarters are located in Clayton, Missouri, and it has a fire retardant production facility in Sacramento, California. Approximately 79% of its annual revenues are derived from the United States, with an additional 6% from Canada. The company's service network is extensive, capable of meeting the emergency resupply needs of over 150 air tanker bases across North America, as well as numerous other customer locations globally.

Perimeter Solutions maintains a strong brand reputation, emphasizing the safety and environmental friendliness of its products, its commitment to sustainability, and a customer-focused business model. The company is recognized for its technical expertise, operational efficiency, and dedication to environmental stewardship. A significant event bolstering its reputation was a historic five-year agreement with the USDA, announced in September 2025, aimed at strengthening wildfire response capabilities and expanding value-added services. The company is also well-positioned to benefit from secular catalysts such as mandated PFAS foam replacement, as it offers fluorine-free foam technologies.

Perimeter Solutions, Inc. (PRM) has a diverse ownership structure, with institutional investors holding a significant majority, ranging from approximately 83.18% to 85.89% of the company's stock. Individual investors hold around 4.98%, while insiders own between 18.73% and 21.56%. Major institutional owners include Windacre Partnership Llc, Principal Financial Group Inc, BlackRock, Inc., Fmr Llc, Vanguard Group Inc, Dimensional Fund Advisors Lp, Geode Capital Management, Llc, and State Street Corp. Windacre Partnership Master Fund LP is the largest individual Perimeter Solutions shareholder, owning 21.85 million shares, representing 14.77% of the company. William N. Thorndike Jr. is also a significant insider owner.