LCI Industries vs Patrick Industries
Add, change or remove companies; up to four.
KIRA’s take AI analyst
I put LCI Industries and Patrick Industries side by side, using each one’s latest annual report. Here is what stands out:
- LCI Industries is the larger business, with $4.1B of revenue in fiscal 2025 against $4.0B for Patrick Industries.
- LCI Industries grew revenue faster (10.2%, against 6.3%).
- LCI Industries turned more of its sales into free cash flow (6.8% FCF margin, against 6.2%).
- LCI Industries earned a higher return on the capital invested in it (10.2%, against 8.6%).
- Investors pay more for each dollar of Patrick Industries’s earnings: a P/E of 16.7x against 10.2x for LCI Industries.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
LCI Industries
LCII
9/11
Revenue growthGross marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreNet debt / EBITDAShare count change
Patrick Industries
PATK
2/11
5-year growthOperating margin
Side by side
Best in the row
| Latest fiscal year | LCII FY25 | PATK FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.1B | $2.4B |
| Revenue | $4.1B | $4.0B |
| Free cash flow | $278M | $246M |
| Net income | $188M | $135M |
| Growth | ||
| Revenue growth | 10.2% | 6.3% |
| 5-year growth | 8.1% | 9.7% |
| Share count change | −2.6% | 2.8% |
| Profitability | ||
| Gross margin | 23.8% | 23.1% |
| Operating margin | 6.8% | 7.0% |
| Net margin | 4.6% | 3.4% |
| FCF margin | 6.8% | 6.2% |
| Return on capital | 10.2% | 8.6% |
| Return on equity | 13.7% | 11.7% |
| Balance sheet | ||
| Net debt | $723M | $1.3B |
| Net debt / EBITDA | 1.8x | 2.9x |
| Dividends and buybacks | $243M | $87.3M |
| Valuation & quality | ||
| P/E | 10.2x | 16.7x |
| Piotroski F-score | 8 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.