PAX Stock Analysis: Patria Investments | NASDAQ
Asset Management | NASDAQ, USA | Market Cap: 1.755m USD | 12M Return: -19.1% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 9.25M
EPS Trend: 87.2%
Qual. Beats: 0
Rev. Trend: 92.4%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 5.4 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Patria Investments Limited is a Cayman Islands-headquartered private market investment firm founded in 1994 that specializes in private equity, secondaries (both direct and indirect), and venture capital, primarily targeting middle-market buyout and growth capital transactions. The firm is sector-agnostic in approach but concentrates its investments across agribusiness, power and energy, healthcare, logistics and transportation, food and beverage, education services, outsourced business services, and digital and technology services. Listed on NASDAQ under the ticker PAX since its January 2021 IPO, Patria operates within the alternative asset management industry and falls under the GICS Asset Management & Custody Banks sub-industry.
Geographically, Patria seeks investment opportunities globally with a particular emphasis on Latin America, Brazil, and the broader Americas, alongside exposure to Europe and Asia. Typical transaction sizes range from approximately $38 million to $72 million, with the firm willing to take either majority or minority stakes in its portfolio companies. Beyond direct investments, Patria generates revenue by providing asset management services across private equity, infrastructure development, co-investment, construction-focused equity, real estate, and credit funds, and frequently co-invests alongside other limited partners. The firm operates as a subsidiary of Patria Holdings Limited and maintains additional offices across South America, North America, Europe, and Asia.
- New fund vintages accelerate AUM and management fee growth
- Fee-related earnings margins expand on operating leverage
- Brazil real depreciation pressures USD reported revenue
| Net Income: 72.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA -3.90 > 1.0 |
| NWC/Revenue: 44.47% < 20% (prev -3.48%; Δ 47.96% < -1%) |
| CFO/TA 0.13 > 3% & CFO 218.5m > Net Income 72.2m |
| Net Debt (192.0m) to EBITDA (179.5m): 1.07 < 3 |
| Current Ratio: 1.70 > 1.5 & < 3 |
| Outstanding Shares: last quarter (158.6m) vs 12m ago 0.35% < -2% |
| Gross Margin: 84.68% > 18% (prev 75.05%; Δ 9.63% > 0.5%) |
| Asset Turnover: 26.19% > 50% (prev 29.23%; Δ -3.04% > 0%) |
| Interest Coverage Ratio: 4.75 > 6 (EBIT TTM 135.4m / Interest Expense TTM 28.5m) |
| DSRI: 1.96 (Receivables 346.8m/172.1m, Revenue 401.6m/389.9m) |
| GMI: 0.89 (GM 75.05% / 84.68%) |
| AQI: 1.07 (AQ_t 0.72 / AQ_t-1 0.67) |
| SGI: 1.03 (Revenue 401.6m / 389.9m) |
| TATA: -0.08 (NI 72.2m - CFO 218.5m) / TA 1.73b) |
| Beneish M = -2.29 (Cap -4..+1) = BBB |
As of July 08, 2026, the stock is trading at USD 11.07 with a total of 473,871 shares traded. Over the past week, the price has changed by +2.98%, over one month by -2.89%, over three months by -8.69% and over the past year by -19.09%.
Current recommended Stop Loss: 10.50 (which is 5.1% or 1.6 ATR below the current price).
Patria Investments has received a consensus analysts rating of 3.67. Therefore, it is recommended to hold PAX.
- StrongBuy: 1
- Buy: 2
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 15.6 | 40.7% |
P/E Trailing = 20.7547
P/E Forward = 8.1367
P/S = 4.3955
P/B = 2.8711
Revenue TTM = 401.6m USD
EBIT TTM = 135.4m USD
EBITDA TTM = 179.5m USD
Long Term Debt = 174.9m USD (from longTermDebt, last fiscal year)
Short Term Debt = 255.1m USD (from shortTermDebt, last quarter)
Debt = 278.9m USD (from shortLongTermDebtTotal, last quarter) + Leases 23.8m
Net Debt = 192.0m USD (calculated: Debt 278.9m - CCE 86.9m)
Enterprise Value = 1.95b USD (1.75b + Debt 278.9m - CCE 86.9m)
Interest Coverage Ratio = 4.75 (Ebit TTM 135.4m / Interest Expense TTM 28.5m)
EV/FCF = 10.36x (Enterprise Value 1.95b / FCF TTM 187.8m)
FCF Yield = 9.65% (FCF TTM 187.8m / Enterprise Value 1.95b)
FCF Margin = 46.78% (FCF TTM 187.8m / Revenue TTM 401.6m)
Net Margin = 17.97% (Net Income TTM 72.2m / Revenue TTM 401.6m)
Gross Margin = 84.68% ((Revenue TTM 401.6m - Cost of Revenue TTM 61.5m) / Revenue TTM)
Gross Margin QoQ = 79.63% (prev 91.00%)
Tobins Q-Ratio = 1.12 (Enterprise Value 1.95b / Total Assets 1.73b)
Interest Expense / Debt = 10.22% (Interest Expense 28.5m / Debt 278.9m)
Taxrate = 9.54% (8.28m / 86.8m)
NOPAT = 122.5m (EBIT 135.4m * (1 - 9.54%))
Current Ratio = 1.70 (Total Current Assets 433.7m / Total Current Liabilities 255.1m)
Debt / Equity = 0.46 (Debt 278.9m / totalStockholderEquity, last quarter 603.2m)
Debt / EBITDA = 1.07 (Net Debt 192.0m / EBITDA 179.5m)
Debt / FCF = 1.02 (Net Debt 192.0m / FCF TTM 187.8m)
Total Stockholder Equity = 595.7m (last 4 quarters mean from totalStockholderEquity)
RoA = 4.70% (Net Income 72.2m / Total Assets 1.73b)
RoE = 12.11% (Net Income TTM 72.2m / Total Stockholder Equity 595.7m)
RoCE = 17.58% (EBIT 135.4m / Capital Employed (Equity 595.7m + L.T.Debt 174.9m))
RoIC = 7.15% (NOPAT 122.5m / Invested Capital 1.71b)
WACC = 10.25% (E(1.75b)/V(2.03b) * Re(10.41%) + D(278.9m)/V(2.03b) * Rd(10.22%) * (1-Tc(0.10)))
Discount Rate = 10.41% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 71.91 | Cagr: 2.71%
[DCF] Terminal Value 68.34% ; FCFF base≈191.4m ; Y1≈185.0m ; Y5≈181.6m
[DCF] Fair Price = 29.51 (EV 2.16b - Net Debt 192.0m = Equity 1.97b / Shares 66.6m; r=10.25% [WACC]; 5y FCF grow -4.47% → 2.50% )
EPS Correlation: 87.24 | EPS CAGR: 9.64% | SUE: -0.10 | # QB: 0
Revenue Correlation: 92.38 | Revenue CAGR: 12.71% | SUE: 0.20 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.30 | Chg30d=-4.24% | Revisions=-50% | Analysts=3
EPS next Quarter (2026-09-30): EPS=0.30 | Chg30d=-2.66% | Revisions=-40% | Analysts=3
EPS current Year (2026-12-31): EPS=1.37 | Chg30d=+0.00% | Revisions=-62% | GrowthEPS=+7.5% | GrowthRev=+23.1%
EPS next Year (2027-12-31): EPS=1.55 | Chg30d=+0.00% | Revisions=-62% | GrowthEPS=+13.6% | GrowthRev=+12.7%
[Analyst] Revisions Ratio: -83% (up=0, down=15)