A Business at a Glance
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PATRICK INDUSTRIES INC
PATK
$2.9B
Mkt Cap
$84.50
-1.11%
PATRICK INDUSTRIES INC (PATK) has a current P/E ratio of 21.7, compared to its historical median P/E of 15.1. The stock is currently considered Fair based on its historical valuation range.
PATRICK INDUSTRIES INC (PATK) has a 5-year average return on invested capital (ROIC) of 11.7%. This indicates solid capital allocation.
PATRICK INDUSTRIES INC (PATK) has a market capitalization of $2.8B. It is classified as a mid-cap stock.
Yes, PATRICK INDUSTRIES INC (PATK) pays a dividend with a trailing twelve-month yield of 2.06%. The company also returns capital through share buybacks, with a buyback yield of 1.36%.
Based on historical P/E analysis, PATRICK INDUSTRIES INC (PATK) appears fair. The current P/E of 21.7 is 44% above its historical median of 15.1. The estimated fair value CAGR (P/E method) is 9.8%.
PATRICK INDUSTRIES INC (PATK) operates in the Motor Vehicle Parts & Accessories industry, within the Consumer Cyclical sector.
PATRICK INDUSTRIES INC (PATK) reported annual revenue of $4.0 billion in its most recent fiscal year, based on SEC EDGAR filings.
Unless the context otherwise requires, the terms “Company,” “Patrick,” “we,” “our,” or “us” refer to Patrick Industries, Inc. and its subsidiaries. Company Overview Patrick is a leading component solutions provider for the recreational vehicle ("RV"), marine, powersports, manufactured housing ("MH") and various industrial markets – including single and multi-family housing, hospitality, institutional and commercial markets. The Company operates through a nationwide network that includes, as of December 31, 2025, approximately 191 manufacturing plants and 50 warehouse and distribution facilities located in 25 states, with a small presence in Mexico, China and Canada. The Company operates within two reportable segments, Manufacturing and Distribution, through a nationwide network of manufacturing and distribution centers for its products, thereby reducing in-transit delivery time and cost to the regional manufacturing footprint of its customers.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 3.9B | 4.0B | 3.7B | 3.5B | 4.9B | 4.1B |
| Net Income | 136M | 135M | 138M | 143M | 328M | 225M |
| EPS | $4.10 | $3.90 | $4.11 | $4.33 | $8.99 | $9.63 |
| Free Cash Flow | 194M | 246M | 251M | 350M | 332M | 187M |
| ROIC | 8.4% | 8.3% | 8.6% | 8.7% | 17.3% | 15.7% |
| Gross Margin | 23.1% | 23.1% | 22.5% | 22.6% | 21.7% | 19.6% |
| Debt/Equity | 1.17 | 1.26 | 1.35 | 1.15 | 1.52 | 1.89 |
| Dividends/Share | $1.74 | $1.60 | $1.49 | $1.90 | $0.90 | $1.17 |
| Operating Income | 275M | 276M | 258M | 260M | 496M | 352M |
| Operating Margin | 7.0% | 7.0% | 6.9% | 7.5% | 10.2% | 8.6% |
| ROE | 11.5% | 11.7% | 12.7% | 14.3% | 38.1% | 33.9% |
| Shares Outstanding | 33M | 35M | 34M | 33M | 37M | 23M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 736M | 920M | 1.2B | 1.6B | 2.3B | 2.3B | 2.5B | 4.1B | 4.9B | 3.5B | 3.7B | 4.0B | 3.9B |
| Gross Margin | 16.1% | 16.5% | 16.6% | 17.1% | 18.4% | 18.1% | 18.5% | 19.6% | 21.7% | 22.6% | 22.5% | 23.1% | 23.1% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 36M | 46M | 62M | 91M | 128M | 134M | 146M | 254M | 328M | 299M | 326M | 362M | 361M |
| EBIT | 51M | 70M | 91M | 122M | 178M | 154M | 173M | 352M | 496M | 260M | 258M | 276M | 275M |
| Op. Margin | 7.0% | 7.6% | 7.4% | 7.5% | 7.9% | 6.6% | 7.0% | 8.6% | 10.2% | 7.5% | 6.9% | 7.0% | 7.0% |
| Net Income | 31M | 42M | 56M | 86M | 120M | 90M | 97M | 225M | 328M | 143M | 138M | 135M | 136M |
| Net Margin | 4.2% | 4.6% | 4.5% | 5.2% | 5.3% | 3.8% | 3.9% | 5.5% | 6.7% | 4.1% | 3.7% | 3.4% | 3.5% |
| Non-Recurring | -30K | -51K | 0 | 0 | 0 | 0 | 1.9M | -583K | 5.6M | -585K | 237K | -2.1M | -2.1M |
| Returns on Capital | |||||||||||||
| ROIC | 12.9% | 14.1% | 15.3% | 15.7% | 16.0% | 10.8% | 10.4% | 15.7% | 17.3% | 8.7% | 8.6% | 8.3% | 8.4% |
| ROE | 33.1% | 36.5% | 35.4% | 30.8% | 30.7% | 19.8% | 18.4% | 33.9% | 38.1% | 14.3% | 12.7% | 11.7% | 11.5% |
| ROA | 14.3% | 13.3% | 12.1% | 12.2% | 11.4% | 6.6% | 6.0% | 10.2% | 12.1% | 5.3% | 5.0% | 4.4% | 4.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 46M | 67M | 97M | 100M | 200M | 192M | 160M | 252M | 412M | 409M | 327M | 329M | 275M |
| Free Cash Flow | 40M | 59M | 82M | 77M | 166M | 165M | 128M | 187M | 332M | 350M | 251M | 246M | 194M |
| Owner Earnings | 33M | 45M | 66M | 56M | 131M | 114M | 71M | 124M | 259M | 245M | 144M | 140M | 85M |
| CapEx | 6.5M | 8.0M | 15M | 22M | 34M | 28M | 32M | 65M | 80M | 59M | 76M | 83M | 82M |
| Maint. CapEx | 10M | 17M | 24M | 34M | 55M | 63M | 73M | 105M | 131M | 145M | 167M | 170M | 170M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 10M | 17M | 24M | 34M | 55M | 63M | 73M | 105M | 131M | 145M | 167M | 170M | 170M |
| CapEx/OCF | 14.3% | 11.9% | 15.9% | 22.5% | 17.2% | 14.4% | 20.0% | 25.7% | 19.4% | 14.4% | 23.2% | 25.2% | 29.7% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 5.8M | 24M | 27M | 33M | 42M | 50M | 55M | 58M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | 0.9% | 3.2% | 2.4% | 2.5% | 2.7% | 1.9% | 1.7% | 2.1% |
| Share Buybacks | 14M | 23M | 5.2M | 0 | 108M | 3.8M | 23M | 49M | 77M | 19M | 4.7M | 32M | 38M |
| Buyback Yield | 3.3% | 3.9% | 0.5% | N/A | 16.8% | 0.4% | 1.6% | 2.9% | 5.6% | 0.9% | 0.2% | 0.8% | 1.4% |
| Stock-Based Comp | 3.3M | 4.7M | 6.5M | 10M | 14M | 15M | 16M | 23M | 22M | 19M | 17M | 19M | 20M |
| Debt Repayment | 46M | 8.0M | 13M | 93M | 7.7M | 6.3M | 5.0M | 6.9M | 7.5M | 7.5M | 131M | 6.3M | 6.3M |
| Balance Sheet | |||||||||||||
| Net Debt | 202M | 206M | 268M | 353M | 627M | 633M | 895M | 1.3B | 1.4B | 1.2B | 1.5B | 1.5B | 1.3B |
| Cash & Equiv. | 123K | 87K | 6.4M | 2.8M | 6.9M | 139M | 45M | 123M | 23M | 11M | 34M | 26M | 37M |
| Long-Term Debt | 101M | 193M | 257M | 338M | 622M | 670M | 811M | 1.3B | 1.3B | 1.0B | 1.3B | 1.3B | 1.4B |
| Debt/Equity | 1.97 | 1.60 | 1.48 | 0.96 | 1.55 | 1.55 | 1.68 | 1.89 | 1.52 | 1.15 | 1.35 | 1.26 | 1.17 |
| Interest Coverage | 21.4 | 16.3 | 157.7 | 254.0 | 391.3 | 26.4 | 34.1 | 38.0 | 61.4 | N/A | N/A | 1131.1 | 1131.1 |
| Equity | 103M | 129M | 185M | 371M | 409M | 497M | 559M | 768M | 955M | 1.0B | 1.1B | 1.2B | 1.2B |
| Total Assets | 256M | 382M | 535M | 867M | 1.2B | 1.5B | 1.8B | 2.7B | 2.8B | 2.6B | 3.0B | 3.1B | 3.2B |
| Total Liabilities | 153M | 253M | 350M | 496M | 822M | 974M | 1.2B | 1.9B | 1.8B | 1.5B | 1.9B | 1.9B | 2.0B |
| Intangibles | 50M | 107M | 165M | 263M | 383M | 357M | 456M | 640M | 720M | 651M | 803M | 743M | 722M |
| Retained Earnings | 41M | 63M | 113M | 199M | 225M | 306M | 360M | 514M | 759M | 843M | 927M | 977M | 987M |
| Working Capital | 70M | 76M | 87M | 138M | 227M | 330M | 301M | 541M | 543M | 426M | 469M | 525M | 641M |
| Current Assets | 115M | 134M | 173M | 274M | 385M | 517M | 528M | 974M | 910M | 735M | 823M | 873M | 1.0B |
| Current Liabilities | 45M | 58M | 86M | 136M | 158M | 187M | 227M | 433M | 367M | 308M | 354M | 348M | 374M |
| Per Share Data | |||||||||||||
| EPS | 1.91 | 1.81 | 2.43 | 3.48 | 4.93 | 3.85 | 4.20 | 9.63 | 8.99 | 4.33 | 4.11 | 3.90 | 4.10 |
| Owner EPS | 2.03 | 1.95 | 2.90 | 2.27 | 5.39 | 4.91 | 3.07 | 5.33 | 7.10 | 7.41 | 4.26 | 4.05 | 2.57 |
| Book Value | 6.40 | 5.51 | 8.11 | 15.05 | 16.82 | 21.38 | 24.21 | 32.86 | 26.16 | 31.68 | 33.51 | 34.20 | 35.91 |
| Cash Flow/Share | 2.88 | 2.87 | 4.25 | 4.06 | 8.23 | 8.27 | 6.93 | 10.80 | 11.28 | 12.38 | 9.71 | 9.51 | 9.27 |
| Dividends/Share | N/A | N/A | N/A | 0.00 | 0.00 | 0.25 | 1.03 | 1.17 | 0.90 | 1.90 | 1.49 | 1.60 | 1.74 |
| Shares Out. | 16.1M | 23.3M | 22.9M | 24.6M | 24.3M | 23.3M | 23.1M | 23.4M | 36.5M | 33.0M | 33.7M | 34.6M | 33.1M |
| Valuation | |||||||||||||
| P/E Ratio | 13.7 | 13.8 | 18.7 | 17.7 | 5.4 | 12.1 | 15.1 | 7.6 | 4.2 | 15.0 | 19.9 | 28.6 | 20.6 |
| P/FCF | 4.7 | 6.6 | 8.5 | 13.1 | 2.6 | 4.4 | 7.6 | 6.1 | 4.1 | 6.1 | 11.0 | 15.7 | 14.4 |
| EV/EBIT | 10.1 | 11.4 | 14.5 | 15.4 | 7.1 | 9.6 | 12.7 | 7.8 | 5.3 | 12.1 | 15.6 | 18.5 | 15.1 |
| Price/Book | 4.1 | 4.5 | 5.6 | 4.1 | 1.6 | 2.2 | 2.6 | 2.2 | 1.4 | 2.1 | 2.4 | 3.3 | 2.4 |
| Price/Sales | 0.5 | 0.6 | 0.6 | 0.7 | 0.5 | 0.4 | 0.5 | 0.4 | 0.3 | 0.5 | 0.7 | 0.8 | 0.7 |
| FCF Yield | 9.4% | 10.1% | 7.9% | 5.1% | 25.8% | 15.2% | 8.7% | 10.9% | 24.2% | 16.3% | 9.1% | 6.4% | 6.9% |
| Market Cap | 421M | 584M | 1.0B | 1.5B | 641M | 1.1B | 1.5B | 1.7B | 1.4B | 2.1B | 2.8B | 3.9B | 2.8B |
| Avg. Price | 10.69 | 15.14 | 21.47 | 30.84 | 33.68 | 26.27 | 32.33 | 49.23 | 36.45 | 47.94 | 77.29 | 95.02 | 84.50 |
| Year-End Price | 11.66 | 16.73 | 30.25 | 41.10 | 17.59 | 31.09 | 42.28 | 48.84 | 37.56 | 64.99 | 81.84 | 111.67 | 84.50 |
PATRICK INDUSTRIES INC passes 3 of 9 quality checks, indicating weak fundamentals.
PATRICK INDUSTRIES INC trades at 21.7x trailing earnings, compared to its 15-year median P/E of 15.1x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 11.4x vs a median of 6.9x. The company's 5-year average ROIC is 11.7% with a gross margin of 21.9%. Total shareholder yield (dividends + buybacks) is 3.4%. At current prices, the estimated annualized return to fair value is +18.3%.
PATRICK INDUSTRIES INC (PATK) has a net profit margin of 3.4%. This is a modest margin.
PATRICK INDUSTRIES INC (PATK) generated $246 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
PATRICK INDUSTRIES INC (PATK) has a debt-to-equity ratio of 1.26. This indicates moderate leverage.
PATRICK INDUSTRIES INC (PATK) reported earnings per share (EPS) of $3.90 in its most recent fiscal year.
PATRICK INDUSTRIES INC (PATK) has a return on equity (ROE) of 11.7%. This indicates moderate shareholder returns.
PATRICK INDUSTRIES INC (PATK) has a 5-year average gross margin of 21.9%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for PATRICK INDUSTRIES INC (PATK), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
PATRICK INDUSTRIES INC (PATK) has a book value per share of $34.20, based on its most recent annual SEC filing.