# Patria Investments Limited Class A (PAX) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Financial Services / Capital Markets. Price $11.14, market value $1.8 billion.

## Valuation
- **P/E (trailing): 24.8×** (5-yr avg 20.3×, 3-yr avg 23.1×). Patria Investments Limited Class A trades at 24.8× trailing earnings, well above its own five-year average of 20.3×: investors are paying up relative to the company's past. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 7.3×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.54**. A PEG of 0.54 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 4.5×**. Each dollar of revenue is priced at 4.5×.
- **Price / book: 3.2×**. The shares trade at 3.2× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 12.7×**. Enterprise value is 12.7× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 10.2%** (5-yr avg 7.4%). Free cash flow equals 10.2% 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: 4.0%**. The inverse of the P/E: 4.0% of the price is earned each year.

## Profitability
- **Gross margin: 83.8%**. Patria Investments Limited Class A keeps 83.8% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 36.5%**. 36.5% 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: 4.8%**. Each dollar of assets produces 4.8% 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: 5.83%** ($0.61 per share, trailing). Patria Investments Limited Class A yields 5.83%, an income-level yield.
- **Payout ratio: 111%** (52% of free cash flow). The dividend exceeds earnings (111% payout), though free cash flow still covers it.

## Price and momentum
- **Total return (1 yr): -16.7%** (YTD -28.1%, 3-mo -0.1%). The shares are down 16.7% over twelve months including dividends.
- **From 52-week high: -37.4%** (5.6% above the low). Trading 37% 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): 45**. An RSI of 45 is neutral.
- **Beta (1 yr): 1.16** (volatility 30%). Beta of 1.16 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.