(PAX) Patria Investments - Overview
Sector: Financial Services | Industry: Asset Management | Exchange: NASDAQ (USA) | Market Cap: 1.744m USD | Total Return: -10.3% in 12m
Avg Turnover: 9.52M
EPS Trend: 72.8%
Qual. Beats: 0
Rev. Trend: 92.4%
Qual. Beats: 0
Warnings
Below Avwap Earnings
Tailwinds
No distinct edge detected
Patria Investments Limited (PAX) is a global alternative asset manager specializing in private equity, infrastructure, real estate, and credit. The firm employs a sector-agnostic approach with a primary geographic focus on Latin America, targeting middle-market buyouts and growth capital investments. It manages a diverse range of vehicles, including co-investment and constructivist equity funds, often seeking majority stakes in its portfolio companies.
The business model relies on generating management fees from committed capital and performance fees based on investment returns. In the alternative asset management sector, firms often benefit from sticky capital, as private market funds typically have multi-year lock-up periods that provide stable revenue streams regardless of short-term public market volatility. For a deeper look at these valuation drivers, you may wish to explore the data on ValueRay.
Founded in 1994 and headquartered in the Cayman Islands, Patria operates as a subsidiary of Patria Holdings Limited. The firm maintains a physical presence across South America, North America, Europe, and Asia to facilitate its global investment strategy and asset management services.
- Expansion of assets under management through strategic acquisitions in Latin American markets
- Performance fee volatility impacts quarterly earnings based on private equity exit timing
- Brazilian macroeconomic stability and interest rate fluctuations influence capital deployment pace
- Scaling of infrastructure and credit funds diversifies revenue beyond core private equity
- Institutional investor demand for high-yield alternative assets drives management fee growth
| Net Income: 72.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA -3.15 > 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 0.75%; Δ 8.39k% > 0.5%) |
| Asset Turnover: 26.19% > 50% (prev 29.23%; Δ -3.04% > 0%) |
| Interest Coverage Ratio: 4.75 > 6 (EBITDA TTM 179.5m / Interest Expense TTM 28.5m) |
| DSRI: 1.96 (Receivables 346.8m/172.1m, Revenue 401.6m/389.9m) |
| GMI: 0.89 (GM 84.68% / 75.05%) |
| 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 = -2.36 (Cap -4..+1) = BBB |
As of May 24, 2026, the stock is trading at USD 11.17 with a total of 707,154 shares traded.
Over the past week, the price has changed by -1.58%,
over one month by -13.20%,
over three months by -15.75% and
over the past year by -10.32%.
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 | 15.7 | 40.6% |
P/E Forward = 8.1367
P/S = 4.3675
P/B = 2.8476
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 = 1.94b USD (1.74b + Debt 278.9m - CCE 86.9m)
Interest Coverage Ratio = 4.75 (Ebit TTM 135.4m / Interest Expense TTM 28.5m)
EV/FCF = 9.63x (Enterprise Value 1.94b / FCF TTM 200.9m)
FCF Yield = 10.38% (FCF TTM 200.9m / Enterprise Value 1.94b)
FCF Margin = 50.03% (FCF TTM 200.9m / 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 1.94b / Total Assets 1.73b)
Interest Expense / Debt = 10.22% (Interest Expense 28.5m / Debt 278.9m)
Taxrate = 50.0% (4.60m / 9.20m)
NOPAT = 67.7m (EBIT 135.4m * (1 - 50.00%))
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 = 0.96 (Net Debt 192.0m / FCF TTM 200.9m)
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 = 3.91% (NOPAT 67.7m / Invested Capital 1.73b)
WACC = 9.75% (E(1.74b)/V(2.02b) * Re(10.49%) + D(278.9m)/V(2.02b) * Rd(10.22%) * (1-Tc(0.50)))
Discount Rate = 10.49% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 71.91 | Cagr: 2.71%
[DCF] Terminal Value 71.01% ; FCFF base≈199.2m ; Y1≈203.6m ; Y5≈223.6m
[DCF] Fair Price = 39.12 (EV 2.80b - Net Debt 192.0m = Equity 2.60b / Shares 66.6m; r=9.75% [WACC]; 5y FCF grow 2.17% → 2.50% )
EPS Correlation: 72.76 | EPS CAGR: 5.12% | SUE: -0.34 | # 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=-4.41% | Revisions=-43% | Analysts=3
EPS next Quarter (2026-09-30): EPS=0.31 | Chg30d=-2.67% | Revisions=-33% | Analysts=3
EPS current Year (2026-12-31): EPS=1.38 | Chg30d=-4.07% | Revisions=-56% | GrowthEPS=+9.0% | GrowthRev=+23.6%
EPS next Year (2027-12-31): EPS=1.58 | Chg30d=-7.58% | Revisions=-33% | GrowthEPS=+14.3% | GrowthRev=+13.4%
[Analyst] Revisions Ratio: -56%