PAX Stock Analysis: Patria Investments | NASDAQ
Asset Management | NASDAQ, USA | Market Cap: 1.624m USD | 12M Return: -17.4% | KYG694511059 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 11.3M
EPS Trend: 87.5%
Qual. Beats: 0
Rev. Trend: 92.8%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 5.7 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 (NASDAQ: PAX) is a Cayman Islands-based alternative asset manager founded in 1994, operating as a subsidiary of Patria Holdings Limited. The firm specializes in private market investments across private equity, secondary transactions (both direct and indirect), and venture capital, with a focus on middle-market buyouts and growth capital deals. It runs a sector-agnostic platform with concentrated exposure to agribusiness, power & energy, healthcare, logistics & transportation, food & beverage, education, outsourced business services, and digital/tech services, while investing globally with particular emphasis on Latin America, Europe, the United States, and Brazil. Per the companys stated investment criteria, it typically deploys between $38.48 million and $72.14 million per transaction and seeks either majority or minority stakes in portfolio companies.
In addition to direct investing, Patria offers asset management services across a broad fund lineup that includes private equity funds, infrastructure development funds, co-investment vehicles, credit funds, and real estate funds, and it actively co-invests alongside other limited partners. The firm maintains offices across South America, North America, Europe, and Asia, reflecting its cross-border origination strategy. Listed on NASDAQ in January 2021, Patria sits within the Financials sector and the Asset Management & Custody Banks sub-industry, a segment that has benefited from rising institutional allocations to private market alternatives.
- Private markets AUM growth fuels fee-related earnings expansion
- Brazil and Latin America exposure drives performance fee volatility
- Capital return program accelerates as management fees scale post-IPO
| Net Income: 69.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA -12.13 > 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 October 07, 2026, the stock is trading at USD 11.20 with a total of 1,350,309 shares traded. Over the past week, the price has changed by +11.33%, over one month by +0.00%, over three months by +1.89% and over the past year by -17.41%.
Current recommended Stop Loss: 10.70 (which is 4.5% or 1.5 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 | 15.2 | 35.4% |
P/E Trailing = 22.3556
P/E Forward = 8.1367
P/S = 3.7934
P/B = 2.9635
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 = 2.13b USD (1.62b + Debt 618.7m - CCE 113.5m)
Interest Coverage Ratio = 3.79 (Ebit TTM 142.1m / Interest Expense TTM 37.5m)
EV/FCF = 15.28x (Enterprise Value 2.13b / FCF TTM 139.3m)
FCF Yield = 6.54% (FCF TTM 139.3m / Enterprise Value 2.13b)
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 = 1.17 (Enterprise Value 2.13b / 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 = 8.87% (E(1.62b)/V(2.24b) * Re(10.20%) + D(618.7m)/V(2.24b) * Rd(6.06%) * (1-Tc(0.11)))
Discount Rate = 10.20% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 82.98 | Cagr: 2.14%
[DCF] Terminal Value 71.15% ; FCFF base≈187.9m ; Y1≈164.8m ; Y5≈133.1m
[DCF] Fair Price = 21.35 (EV 1.97b - Net Debt 505.2m = Equity 1.46b / Shares 68.4m; r=8.87% [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=-0.33% | Revisions=-25% | Analysts=3
EPS current Year (2026-12-31): EPS=1.36 | Chg30d=-1.26% | Revisions=-17% | GrowthEPS=+6.9% | GrowthRev=+26.2%
EPS next Year (2027-12-31): EPS=1.48 | Chg30d=-2.30% | Revisions=-17% | GrowthEPS=+9.1% | GrowthRev=+10.1%
[Analyst] Revisions Ratio: -30% (up=2, down=5)