# Patria Investments Limited (PAX) fundamentals

Data as of 2026-11-04. NASDAQ, United States. Sector: Financial Services / Capital Markets. Price $9.36, market value $1.5 billion.

## Valuation
- **P/E (trailing): 21.8×** (5-yr avg 20.3×, 3-yr avg 23.1×). Patria Investments Limited trades at 21.8× trailing earnings, close to its own five-year average of 20.3×. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 6.5×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.48**. A PEG of 0.48 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 3.6×**. Each dollar of revenue is priced at 3.6×.
- **Price / book: 2.4×**. The shares trade at 2.4× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 10.3×**. Enterprise value is 10.3× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 10.1%** (5-yr avg 7.4%). Free cash flow equals 10.1% of the market value, above its five-year average of 7.4%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 4.6%**. The inverse of the P/E: 4.6% of the price is earned each year.

## Profitability
- **Gross margin: 83.4%**. Patria Investments Limited keeps 83.4% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 34.6%**. 34.6% of revenue is left after running the business, an exceptional level.
- **Net margin: 22.4%**. 22.4% of each dollar of sales reaches the bottom line.
- **Return on equity: 14.0%**. 14.0% on shareholders' equity is solid.
- **Return on invested capital: 18.3%**. Return on all capital, debt included, is 18.3%: comfortably above what that capital costs.
- **Return on assets: 4.7%**. Each dollar of assets produces 4.7% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 2.0%** (3-yr 13.8%/yr, 5-yr 27.1%/yr). Revenue grew 2.0% over the last year, against 27.1% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 13.5%** (3-yr -5.6%/yr, 5-yr 0.0%/yr). Earnings per share rose 13.5%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 49.6%/yr**. Free cash flow has compounded at 49.6% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.
- **Cash and short-term investments: $89 million**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend yield: 6.92%** ($0.61 per share, trailing). Patria Investments Limited yields 6.92%, high enough to check carefully: yields this high often precede a cut.
- **Payout ratio: 111%** (64% of free cash flow). The dividend exceeds earnings (111% payout), though free cash flow still covers it.

## Analyst view
- **Analyst consensus: buy** (6 analysts). 6 analysts cover Patria Investments Limited; the consensus is buy, with an average price target of $14.83 (+58% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -33.2%** (YTD -39.3%, 3-mo -15.8%). The shares are down 33.2% over twelve months including dividends.
- **From 52-week high: -47.4%** (3.7% above the low). Trading 47% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 32**. An RSI of 32 is neutral.
- **Beta (1 yr): 1.12** (volatility 36%). Beta of 1.12 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=PAX · Page: https://foliofundamentals.com/stocks/pax

Not investment advice.