Overview Dividends

(PAX) Patria Investments - Ratings and Ratios

Exchange: NASDAQ • Country: Cayman Islands • Currency: USD • Type: Common Stock • ISIN: KYG694511059

Private Equity, Infrastructure, Real Estate, Credit, Co-Investment

Asset Management & Custody Banks
Market Cap in USD: 2,539m

IPO / Inception: 2021-01-22
Return 12m vs S&P 500: 33.3%

EPS (Earnings per Share)

EPS CAGR: 12.95%
EPS Trend: 29.7%

Last SUE: 0.35
Qual. Beats: 0

Revenue

Rev. CAGR: 18.20%
Rev. Trend: 64.4%

Last SUE: 0.12
Qual. Beats: 0

Dividends

Dividend Yield	3.49%
Yield on Cost 5y	3.72%
Yield CAGR 5y	-4.09%
Payout Consistency	90.6%
Payout Ratio	44.4%

Risk via 5d forecast
Volatility	28.2%
Value at Risk 5%th	45.0%
Relative Tail Risk	-3.12%

Reward TTM
Sharpe Ratio	1.56
Alpha	37.93
CAGR/Max DD	0.36

Character TTM
Hurst Exponent	0.497
Beta	0.982
Beta Downside	1.166

Drawdowns 3y
Max DD	34.63%
Mean DD	12.25%
Median DD	10.35%

Description: PAX Patria Investments November 10, 2025

Patria Investments Ltd. (NASDAQ:PAX) is a Cayman-registered private-market investment firm that originated in 1994 and now operates globally from hubs in Latin America, Europe, North America and Asia. It positions itself as sector-agnostic but concentrates on agribusiness, power & energy, healthcare, logistics, food & beverage, education, outsourced services, and digital-tech, targeting middle-market buyout and growth-capital opportunities.

The firm typically invests $38.5 million – $72.1 million per transaction, taking either majority or minority stakes, and prefers co-investments with other capital partners. Recent data (2024) show Patria managing roughly $2.2 billion of assets under management (AUM) and deploying about $300 million in new capital during the last fiscal year, with a reported net IRR of ~15% across its core private-equity fund. Key macro drivers include Brazil’s expanding agribusiness export pipeline and the region’s accelerating renewable-energy capex, both of which underpin the firm’s sector theses.

Beyond direct equity, Patria offers a suite of asset-management vehicles-including private-equity, infrastructure, co-investment, constructivist equity, real-estate, and credit funds-catering to institutional investors seeking exposure to emerging-market private assets. For a deeper, data-driven perspective on Patria’s valuation and risk profile, a look at ValueRay’s analytical toolkit can provide the granular metrics needed to form a disciplined investment thesis.

Piotroski VR‑10 (Strict, 0-10) 5.5

Net Income (107.8m TTM) > 0 and > 6% of Revenue (6% = 24.4m TTM)

FCFTA 0.19 (>2.0%) and ΔFCFTA 7.63pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -33.56% (prev -13.32%; Δ -20.24pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.20 (>3.0%) and CFO 268.8m > Net Income 107.8m (YES >=105%, WARN >=100%)

Net Debt (116.0m) to EBITDA (179.1m) ratio: 0.65 <= 3.0 (WARN <= 3.5)

Current Ratio 0.64 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (153.4m) change vs 12m ago 0.44% (target <= -2.0% for YES)

Gross Margin 69.85% (prev 71.24%; Δ -1.39pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 30.39% (prev 24.45%; Δ 5.95pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 5.68 (EBITDA TTM 179.1m / Interest Expense TTM 25.2m) >= 6 (WARN >= 3)

Altman Z'' 0.06

(A) -0.10 = (Total Current Assets 245.3m - Total Current Liabilities 381.5m) / Total Assets 1.33b

(B) 0.0 = Retained Earnings (Balance) 0.0 / Total Assets 1.33b

(D) 0.01 = Book Value of Equity 8.10m / Total Liabilities 723.0m

Total Rating: 0.06 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 87.58

1. Piotroski 5.50pt

2. FCF Yield 9.40%

3. FCF Margin 60.95%

4. Debt/Equity 0.25

5. Debt/Ebitda 0.65

6. ROIC - WACC (= 9.81)%

7. RoE 19.71%

8. Rev. Trend 64.37%

9. EPS Trend 29.75%

What is the price of PAX shares?

As of January 07, 2026, the stock is trading at USD 17.18 with a total of 853,393 shares traded.
Over the past week, the price has changed by +7.91%, over one month by +10.70%, over three months by +21.79% and over the past year by +56.69%.

Is PAX a buy, sell or hold?

Patria Investments has received a consensus analysts rating of 3.67. Therefor, it is recommend to hold PAX.

Strong Buy: 1
Buy: 2
Hold: 3
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the PAX price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	16.6	-3.6%
Analysts Target Price	16.6	-3.6%
ValueRay Target Price	19.4	12.7%

PAX Fundamental Data Overview January 06, 2026

Market Cap USD = 2.54b (2.54b USD * 1.0 USD.USD)
P/E Trailing = 23.4118
P/E Forward = 8.1367
P/S = 6.2562
P/B = 4.2895
Beta = 0.693
Revenue TTM = 405.9m USD
EBIT TTM = 143.4m USD
EBITDA TTM = 179.1m USD
Long Term Debt = 104.9m USD (from longTermDebt, last quarter)
Short Term Debt = 70.3m USD (from shortTermDebt, last quarter)
Debt = 146.3m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 116.0m USD (from netDebt column, last quarter)
Enterprise Value = 2.63b USD (2.54b + Debt 146.3m - CCE 52.3m)
Interest Coverage Ratio = 5.68 (Ebit TTM 143.4m / Interest Expense TTM 25.2m)
FCF Yield = 9.40% (FCF TTM 247.4m / Enterprise Value 2.63b)
FCF Margin = 60.95% (FCF TTM 247.4m / Revenue TTM 405.9m)
Net Margin = 26.56% (Net Income TTM 107.8m / Revenue TTM 405.9m)
Gross Margin = 69.85% ((Revenue TTM 405.9m - Cost of Revenue TTM 122.4m) / Revenue TTM)
Gross Margin QoQ = 57.57% (prev 82.32%)
Tobins Q-Ratio = 1.99 (Enterprise Value 2.63b / Total Assets 1.33b)
Interest Expense / Debt = 7.31% (Interest Expense 10.7m / Debt 146.3m)
Taxrate = 1.63% (400.0k / 24.6m)
NOPAT = 141.1m (EBIT 143.4m * (1 - 1.63%))
Current Ratio = 0.64 (Total Current Assets 245.3m / Total Current Liabilities 381.5m)
Debt / Equity = 0.25 (Debt 146.3m / totalStockholderEquity, last quarter 586.8m)
Debt / EBITDA = 0.65 (Net Debt 116.0m / EBITDA 179.1m)
Debt / FCF = 0.47 (Net Debt 116.0m / FCF TTM 247.4m)
Total Stockholder Equity = 547.0m (last 4 quarters mean from totalStockholderEquity)
RoA = 8.13% (Net Income 107.8m / Total Assets 1.33b)
RoE = 19.71% (Net Income TTM 107.8m / Total Stockholder Equity 547.0m)
RoCE = 22.00% (EBIT 143.4m / Capital Employed (Equity 547.0m + L.T.Debt 104.9m))
RoIC = 19.31% (NOPAT 141.1m / Invested Capital 730.6m)
WACC = 9.50% (E(2.54b)/V(2.69b) * Re(9.63%) + D(146.3m)/V(2.69b) * Rd(7.31%) * (1-Tc(0.02)))
Discount Rate = 9.63% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 1.34%
[DCF Debug] Terminal Value 76.46% ; FCFE base≈207.8m ; Y1≈256.4m ; Y5≈437.4m
Fair Price DCF = 86.27 (DCF Value 5.61b / Shares Outstanding 65.1m; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: 29.75 | EPS CAGR: 12.95% | SUE: 0.35 | # QB: 0
Revenue Correlation: 64.37 | Revenue CAGR: 18.20% | SUE: 0.12 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.32 | Chg30d=+0.000 | Revisions Net=+0 | Analysts=3
EPS next Year (2026-12-31): EPS=1.48 | Chg30d=+0.014 | Revisions Net=+2 | Growth EPS=+20.0% | Growth Revenue=+18.2%

Additional Sources for PAX Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle