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Patrick Industries

PATK Nasdaq Automotive Parts & Equipment Financials FY2016–FY2025

Patrick Industries' revenue rose 6.3% to $4.0 billion in fiscal 2025. Its operating margin was 7.0%, about the same as 6.9% a year earlier. Free cash flow was $246 million, down 1.9%. It paid out $87 million in dividends and buybacks, 35% of free cash flow. The diluted share count rose 2.8%.

Last close · Oct 23, 2026

$68.86

2.0%
Value it Compare
Revenue Total sales reported in the income statement.
$4.0B
6.3% vs prior year
Operating margin Operating income as a share of revenue.
7.0%
0.0 pts
Net income Profit after all expenses, interest and tax.
$135M
2.4%
Free cash flow Cash from operations minus capital spending.
$246M
1.9%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
8.6%
0.3 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$2.3B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
16.4x
On $4.21 EPS (TTM)

About these figures. Share counts and per-share figures for earlier years are restated for a stock split (1.5-for-1), so every year is on today's share basis.

What Patrick Industries does

No business description yet.

Legal name
PATRICK INDUSTRIES INC
Fiscal year ends
December 31, 2025
Latest annual report
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Accession · CIK
0000076605-26-000013
0000076605

Revenue and margins

Patrick Industries had $4.0B of revenue in fiscal 2025, up 6.3% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 10.3% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $246M in fiscal 2025, 6.2% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Patrick Industries returned $87.2M to shareholders in fiscal 2025, 35% of free cash flow. The diluted share count rose 2.8%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Patrick Industries yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$1.3B and divides by 34.6M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 16.4x · peers 10.9x · sector 17.9x.

Balance sheet

Cash, debt and the ratios that show how comfortably Patrick Industries can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $123M$22.8M$11.4M$33.6M$26.4M
Debt incl. finance leases $1.4B$1.3B$1.0B$1.3B$1.3B
Net debt / EBITDA 2.7x2.0x2.5x3.1x2.9x
Debt / equity 1.8x1.4x1.0x1.2x1.1x
Interest coverage 7.8x8.7x3.9x3.4x3.9x
Current ratio 2.3x2.5x2.4x2.3x2.5x
Quick ratio 0.8x0.7x0.7x0.8x0.8x
Total assets $2.7B$2.8B$2.6B$3.0B$3.1B
Total liabilities $1.9B$1.8B$1.5B$1.9B$1.9B
Shareholders' equity $768M$955M$1.0B$1.1B$1.2B
Net debt (− = net cash) $1.2B$1.3B$1.0B$1.3B$1.3B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$3.7M

6 insiders

Sold, 12 months

$1.5M

1 insider

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Jun 10, 2026 Welch M ScottDirector Bought 100 $83.85 $0.0M Form 4
May 19, 2026 Welch M ScottDirector Bought 100 $89.44 $0.0M Form 4
May 6, 2026 Jacob R PetkovichPresident - Marine Bought 1,300 $95.57 $0.1M Form 4
May 5, 2026 Andy L NemethChief Executive Officer, Director Bought 10,000 $88.00 $0.9M Form 4
May 5, 2026 Blake AugsburgerDirector Bought 400 $85.19 $0.0M Form 4
May 5, 2026 Charles R RoederPresident - RV Bought 5,750 $87.83 $0.5M Form 4
May 5, 2026 Matthew S FilerEVP Finance, CFO & Treasurer Bought 1,000 $85.50 $0.1M Form 4
May 5, 2026 Welch M ScottDirector Bought 10,050 $88.23 $0.9M Form 4
Mar 12, 2026 Hugo E GonzalezPres Powersports & Housing/COO Sold 13,514 $113.10 $1.5M Form 4
Mar 12, 2026 Welch M ScottDirector Bought 10,000 $113.68 $1.1M Form 4
Mar 6, 2026 Welch M ScottDirector Bought 50 $116.40 $0.0M Form 4
Feb 27, 2026 Welch M ScottDirector Bought 60 $122.75 $0.0M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✕ ✓
Current ratio rose ✕ ✕ ✓
Share count didn't rise ✓ ✕ ✕
Gross margin rose ✓ ✕ ✓
Revenue rose relative to assets ✕ ✓ ✕
F-score 6 / 95 / 96 / 9
Accruals ratio −9.9%−6.8%−6.4%
Altman Z'' 3.573.223.41

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Patrick Industries PATK $2.3B 6.3% 7.0% 6.2% 8.6% 16.4x 6
LCI Industries LCII $2.1B 10.2% 6.8% 6.8% 10.2% 9.9x 8 Compare →
Visteon VC $2.0B −2.5% — — 19.3% 13.2x 7 Compare →
Dauch DCH $1.1B −4.7% 1.9% 2.7% 1.7% — 4 Compare →
Gentex GNTX $4.3B 9.6% 18.7% 18.1% 17.4% 10.9x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.2B $1.6B $2.3B $2.3B $2.5B $4.1B $4.9B $3.5B $3.7B $4.0B
Gross profit $203M $279M $416M $423M $459M $801M $1.1B $782M $836M $913M
Operating income $90.8M $122M $178M $154M $173M $352M $496M $260M $258M $276M
Interest expense $7.1M $8.6M $18.4M $22.1M $36.1M $45.0M $56.9M $66.3M $75.9M $71.4M
Pretax income $83.7M $113M $152M $118M $130M $294M $435M $191M $179M $177M
Income tax $28.1M $27.4M $32.1M $28.3M $33.3M $68.9M $107M $48.4M $40.2M $42.0M
Net income $55.6M $85.7M $120M $89.6M $97.1M $225M $328M $143M $138M $135M
Diluted EPS $1.62 $2.32 $3.29 $2.57 $2.80 $6.42 $8.99 $4.33 $4.11 $3.90
Diluted shares 0.03B 0.04B 0.04B 0.03B 0.03B 0.04B 0.04B 0.03B 0.03B 0.03B
Cash flow
Cash from operations $97.1M $99.9M $200M $192M $160M $252M $412M $409M $327M $329M
Capital expenditure $15.4M $22.5M $34.5M $27.7M $32.1M $64.8M $79.9M $59.0M $75.7M $82.9M
Free cash flow $81.7M $77.4M $166M $165M $128M $187M $332M $350M $251M $246M
Depreciation and amortization $24.4M $33.5M $55.1M $62.8M $73.3M $105M $131M $145M $167M $170M
Stock-based compensation $6.5M $10.4M $14.0M $15.4M $16.0M $22.9M $21.8M $19.4M $16.8M $19.1M
Acquisitions $139M $252M $343M $56.0M $306M $508M $249M $25.9M $412M $122M
Share buybacks $5.2M $0.0M $108M $3.8M $23.1M $48.9M $77.1M $18.8M $4.7M $32.0M
Dividends paid $0.0M $0.0M $0.0M $5.8M $23.6M $27.0M $32.9M $42.1M $50.2M $55.3M
Dividends and buybacks $5.2M $0.0M $108M $9.6M $46.7M $76.0M $110M $61.0M $54.9M $87.2M
Balance sheet
Cash and short-term investments $6.4M $2.8M $6.9M $139M $44.8M $123M $22.8M $11.4M $33.6M $26.4M
Total debt $273M $354M $661M $705M $840M $1.4B $1.3B $1.0B $1.3B $1.3B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $2.0M
Current assets $173M $274M $385M $517M $528M $974M $910M $735M $823M $873M
Current liabilities $86.1M $136M $158M $187M $227M $433M $367M $309M $354M $349M
Inventory $120M $175M $273M $254M $313M $614M $668M $510M $552M $595M
Property and equipment, net $85.5M $119M $177M $181M $252M $320M $351M $354M $385M $409M
Total assets $535M $867M $1.2B $1.5B $1.8B $2.7B $2.8B $2.6B $3.0B $3.1B
Total liabilities $350M $496M $823M $974M $1.2B $1.9B $1.8B $1.5B $1.9B $1.9B
Shareholders' equity $185M $371M $409M $498M $559M $768M $955M $1.0B $1.1B $1.2B
Margins
Gross margin 16.6% 17.1% 18.4% 18.1% 18.5% 19.7% 21.7% 22.6% 22.5% 23.1%
Operating margin 7.4% 7.5% 7.9% 6.6% 7.0% 8.6% 10.2% 7.5% 6.9% 7.0%
EBITDA margin 9.4% 9.5% 10.3% 9.3% 9.9% 11.2% 12.8% 11.7% 11.4% 11.3%
Net margin 4.6% 5.2% 5.3% 3.8% 3.9% 5.5% 6.7% 4.1% 3.7% 3.4%
FCF margin 6.7% 4.7% 7.3% 7.1% 5.2% 4.6% 6.8% 10.1% 6.8% 6.2%
Returns
Return on capital 15.4% 15.8% 15.8% 11.0% 10.7% 16.0% 17.7% 9.0% 8.9% 8.6%
Return on capital employed 23.5% 20.7% 19.8% 13.1% 12.3% 18.8% 21.4% 11.2% 10.5% 10.2%
Return on equity 35.4% 30.8% 30.8% 19.8% 18.4% 33.9% 38.1% 14.3% 12.7% 11.7%
Return on assets 12.1% 12.2% 11.4% 6.6% 6.0% 10.2% 12.1% 5.4% 5.0% 4.4%
Growth
Revenue growth 32.8% 33.9% 38.4% 3.3% 6.4% 64.0% 19.7% −29.0% 7.1% 6.3%
Net income growth 31.6% 54.2% 39.8% −25.3% 8.4% 131.7% 45.9% −56.5% −3.2% −2.4%
EPS growth 34.3% 43.2% 41.7% −21.9% 9.1% 129.3% 40.0% −51.8% −5.1% −5.1%
FCF growth 38.8% −5.3% 113.9% −0.5% −22.3% 46.3% 77.2% 5.4% −28.2% −1.9%
Share count change −1.5% 7.6% −1.3% −4.3% −0.8% 1.2% 4.8% −10.0% 2.0% 2.8%
Financial health
Net debt / EBITDA 2.3x 2.3x 2.8x 2.6x 3.2x 2.7x 2.0x 2.5x 3.1x 2.9x
Debt / equity 1.5x 1.0x 1.6x 1.4x 1.5x 1.8x 1.4x 1.0x 1.2x 1.1x
Interest coverage 12.8x 14.2x 9.7x 7.0x 4.8x 7.8x 8.7x 3.9x 3.4x 3.9x
Current ratio 2.0x 2.0x 2.4x 2.8x 2.3x 2.3x 2.5x 2.4x 2.3x 2.5x
Quick ratio 0.6x 0.7x 0.7x 1.4x 1.0x 0.8x 0.7x 0.7x 0.8x 0.8x
Capital allocation
Capex / revenue 1.3% 1.4% 1.5% 1.2% 1.3% 1.6% 1.6% 1.7% 2.0% 2.1%
Stock comp / revenue 0.5% 0.6% 0.6% 0.7% 0.6% 0.6% 0.5% 0.6% 0.5% 0.5%
Payouts / FCF 6.4% 0.0% 65.0% 5.8% 36.5% 40.6% 33.1% 17.4% 21.8% 35.4%
Quality scores
Piotroski F-score 6.0 7.0 6.0 6.0 6.0 6.0 6.0 6.0 5.0 6.0
Altman Z'' 3.5 3.5 3.3 3.4 3.0 3.3 3.9 3.6 3.2 3.4
Accruals ratio −9.1% −2.0% −7.6% −7.6% −3.9% −1.2% −3.1% −9.9% −6.8% −6.4%

Source: SEC EDGAR XBRL filings (CIK 0000076605). Data updated October 20, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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