PAX Stock Analysis: Patria Investments | NASDAQ
Asset Management | NASDAQ, USA | Market Cap: 1.856m USD | 12M Return: -8.8% | KYG694511059 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 13.8M
EPS Trend: 87.5%
Qual. Beats: 0
Rev. Trend: 92.8%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 5.5 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: 69.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA -12.23 > 1.0 |
| NWC/Revenue: 47.96% < 20% (prev -22.59%; Δ 70.54% < -1%) |
| CFO/TA 0.09 > 3% & CFO 168.4m > Net Income 69.8m |
| Net Debt (505.2m) to EBITDA (184.6m): 2.74 < 3 |
| Current Ratio: 1.83 > 1.5 & < 3 |
| Outstanding Shares: last quarter (159.6m) vs 12m ago 0.95% < -2% |
| Gross Margin: 88.89% > 18% (prev 74.88%; Δ 14.01% > 0.5%) |
| Asset Turnover: 27.73% > 50% (prev 30.16%; Δ -2.42% > 0%) |
| Interest Coverage Ratio: 3.79 > 6 (EBIT TTM 142.1m / Interest Expense TTM 37.5m) |
| DSRI: 3.0 (Receivables 298.3m/90.2m, Revenue 435.0m/397.4m) |
| GMI: 0.84 (GM 74.88% / 88.89%) |
| AQI: 0.99 (AQ_t 0.72 / AQ_t-1 0.73) |
| SGI: 1.09 (Revenue 435.0m / 397.4m) |
| TATA: -0.05 (NI 69.8m - CFO 168.4m) / TA 1.82b) |
| Beneish M = -1.47 (Cap -4..+1) = D |
As of August 23, 2026, the stock is trading at USD 11.46 with a total of 965,209 shares traded. Over the past week, the price has changed by -0.35%, over one month by +4.35%, over three months by +4.07% and over the past year by -8.84%.
Current recommended Stop Loss: 10.90 (which is 4.9% or 1.7 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 | 35.9% |
P/E Trailing = 26.1364
P/E Forward = 8.1367
P/S = 4.3364
P/B = 3.2477
Revenue TTM = 435.0m USD
EBIT TTM = 142.1m USD
EBITDA TTM = 184.6m USD
Long Term Debt = 174.9m USD (from longTermDebt, last fiscal year)
Short Term Debt = 250.4m USD (from shortTermDebt, last quarter)
Debt = 618.7m USD (from shortLongTermDebtTotal, last quarter) + Leases 23.2m
Net Debt = 505.2m USD (calculated: Debt 618.7m - CCE 113.5m)
Enterprise Value = 2.36b USD (1.86b + Debt 618.7m - CCE 113.5m)
Interest Coverage Ratio = 3.79 (Ebit TTM 142.1m / Interest Expense TTM 37.5m)
EV/FCF = 16.95x (Enterprise Value 2.36b / FCF TTM 139.3m)
FCF Yield = 5.90% (FCF TTM 139.3m / Enterprise Value 2.36b)
FCF Margin = 32.02% (FCF TTM 139.3m / Revenue TTM 435.0m)
Net Margin = 16.05% (Net Income TTM 69.8m / Revenue TTM 435.0m)
Gross Margin = 88.89% ((Revenue TTM 435.0m - Cost of Revenue TTM 48.3m) / Revenue TTM)
Gross Margin QoQ = none% (prev 79.63%)
Tobins Q-Ratio = 1.30 (Enterprise Value 2.36b / Total Assets 1.82b)
Interest Expense / Debt = 6.06% (Interest Expense 37.5m / Debt 618.7m)
Taxrate = 11.00% (9.76m / 88.7m)
NOPAT = 126.5m (EBIT 142.1m * (1 - 11.00%))
Current Ratio = 1.83 (Total Current Assets 459.0m / Total Current Liabilities 250.4m)
Debt / Equity = 1.10 (Debt 618.7m / totalStockholderEquity, last quarter 563.1m)
Debt / EBITDA = 2.74 (Net Debt 505.2m / EBITDA 184.6m)
Debt / FCF = 3.63 (Net Debt 505.2m / FCF TTM 139.3m)
Total Stockholder Equity = 581.1m (last 4 quarters mean from totalStockholderEquity)
RoA = 4.45% (Net Income 69.8m / Total Assets 1.82b)
RoE = 12.01% (Net Income TTM 69.8m / Total Stockholder Equity 581.1m)
RoCE = 18.80% (EBIT 142.1m / Capital Employed (Equity 581.1m + L.T.Debt 174.9m))
RoIC = 7.04% (NOPAT 126.5m / Invested Capital 1.80b)
WACC = 8.83% (E(1.86b)/V(2.47b) * Re(9.97%) + D(618.7m)/V(2.47b) * Rd(6.06%) * (1-Tc(0.11)))
Discount Rate = 9.97% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 82.98 | Cagr: 2.14%
[DCF] Terminal Value 71.33% ; FCFF base≈188.4m ; Y1≈165.2m ; Y5≈133.5m
[DCF] Fair Price = 21.64 (EV 1.99b - Net Debt 505.2m = Equity 1.48b / Shares 68.4m; r=8.83% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 87.52 | EPS CAGR: 9.80% | SUE: 0.35 | # QB: 0
Revenue Correlation: 92.78 | Revenue CAGR: 13.16% | SUE: 0.62 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.30 | Chg30d=+0.53% | Revisions=-25% | Analysts=2
EPS current Year (2026-12-31): EPS=1.38 | Chg30d=+0.67% | Revisions=-17% | GrowthEPS=+8.3% | GrowthRev=+25.1%
EPS next Year (2027-12-31): EPS=1.52 | Chg30d=-1.76% | Revisions=-29% | GrowthEPS=+10.9% | GrowthRev=+10.9%
[Analyst] Revisions Ratio: -36% (up=2, down=6)