Patria Investments Limited(PAX)Earnings, Financials & Key Ratios
PAX•NASDAQ•Banking & Credit
21.1× P/E·Price updated Jun 19, 2026
AboutPatria Investments Limited operates as a private market investment firm focused on investing in Latin America. The company offers asset management services to investors focusing on private equity funds, infrastructure development funds, co-investments funds, constructivist equity funds, and real estate and credit funds. Patria Investments Limited was founded in 1994 and is headquartered in Grand Cayman, the Cayman Islands.Show more
- Net Interest Income-$39M-242.0%
- Total Revenue$384M+2.6%
- Net Income$86M+19.1%
- Return on Equity15.23%+7.2%
- Net Interest Margin-2.61%-175.9%
- Efficiency Ratio61.99%+47.0%
- ROA6.34%-2.2%
- Equity / Assets42.37%+4.1%
- Book Value per Share4.01+25.4%
PAX Key Insights
Patria Investments Limited (PAX) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Well capitalized: 42.4% equity/assets
- ✓Good 3Y average ROE of 17.4%
- ✓Healthy dividend yield of 5.3%
- ✓Diversified revenue: 110.2% from non-interest income
✗Weaknesses
- ✗Weak NIM of -2.6%
- ✗Dividend payout exceeds 100% of earnings
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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PAX Price & Volume
Patria Investments Limited (PAX) stock price & volume — 10-year historical chart
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PAX Growth Metrics
Patria Investments Limited (PAX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years27.25%
3 Years14.03%
TTM-
Profit CAGR
10 Years-
5 Years6.59%
3 Years-2.71%
TTM19.06%
EPS CAGR
10 Years-
5 Years2.82%
3 Years-5.01%
TTM10.82%
Return on Capital
10 Years40.26%
5 Years25.09%
3 Years21.13%
Last Year13.9%
PAX Recent Earnings
Patria Investments Limited (PAX) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
May 7, 2026Metric
Actual
Est
EPS
$0.27-3.6%
$0.28
Rev
$97M+4.9%
$93M
Q1 2026
Feb 3, 2026Metric
Actual
Est
EPS
$0.50+6.4%
$0.47
Rev
$131M+12.1%
$117M
Q4 2025
Nov 4, 2025Metric
Actual
Est
EPS
$0.30+15.4%
$0.26
Rev
$87M-26.3%
$117M
Q3 2025
Aug 1, 2025Metric
Actual
Est
EPS
$0.24-20.0%
$0.30
Rev
$83M-1.8%
$84M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 7, 2026 | $0.27vs $0.28-3.6% | $97Mvs $93M+4.9% |
| Q1 2026 | Feb 3, 2026 | $0.50vs $0.47+6.4% | $131Mvs $117M+12.1% |
| Q4 2025 | Nov 4, 2025 | $0.30vs $0.26+15.4% | $87Mvs $117M-26.3% |
| Q3 2025 | Aug 1, 2025 | $0.24vs $0.30-20.0% | $83Mvs $84M-1.8% |
Based on last 12 quarters of dataView full earnings history →
PAX Peer Comparison
Patria Investments Limited (PAX) competitors in Alternative asset managers — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 BX | 96.99B | 123.78 | 31.90 | 21.58% | 21.83% | 14.35% | 0.61 | |
 KKR | 86.49B | 97.01 | 41.46 | -10.99% | 12.45% | 3.19% | 0.67 | |
 APO | 79.27B | 137.50 | 18.94 | 16.03% | 7.24% | 5.52% | 0.31 | |
 CG | 16.18B | 44.80 | 20.55 | 19.8% | 13.7% | 7.81% | 1.97 | |
 EQT | 31.68B | 50.74 | 15.33 | 73.74% | 33.4% | 12.41% | 0.29 | |
 BAM | 77.71B | 47.44 | 30.61 | 23.15% | 49.64% | 23.23% | 0.35 | |
 ARES | 42.48B | 129.34 | 65.99 | 66.55% | 9% | 6.25% | 1.71 | |
 BN | 99.42B | 44.44 | 88.88 | -11.49% | 1.74% | 0.81% | 1.88 |
Compare PAX vs Peers
Patria Investments Limited (PAX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
PAX Income Statement
Patria Investments Limited (PAX) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|
Net Interest Income | -303K | 936K | -865K | -1.02M | -1.81M | -1.24M | -11.4M | -39M |
NII Growth % | - | 408.91% | -192.41% | -18.15% | -76.81% | 31.21% | -817.3% | -242.05% |
Net Interest Margin % | -0.25% | 0.81% | -0.81% | -0.13% | -0.19% | -0.12% | -0.95% | -2.61% |
Interest Income | 26K | 936K | 4K | 0 | 0 | 0 | 0 | -39M |
Interest Expense | 206K | 0 | 869K | 1.02M | 1.81M | 1.24M | 11.4M | 0 |
Loan Loss Provision | 41.21M | 43.19M | 9.76M | 13.61M | 33.02M | 37.49M | 39.09M | 14.6M |
Non-Interest Income | 105.64M | 122.55M | 115.01M | 235.51M | 258.88M | 327.62M | 374.2M | 422.8M |
Non-Interest Income % | 99.98% | 99.24% | 100% | 100% | 100% | 100% | 100% | 110.16% |
Total Revenue | 105.67M▲ 0% | 123.48M▲ 16.9% | 115.02M▼ 6.9% | 235.51M▲ 104.8% | 258.88M▲ 9.9% | 327.62M▲ 26.6% | 374.2M▲ 14.2% | 383.8M▲ 2.6% |
Revenue Growth % | - | 16.86% | -6.86% | 104.77% | 9.92% | 26.55% | 14.22% | 2.56% |
Non-Interest Expense | 17.72M | 15.47M | 37.18M | 83.66M | 93.64M | 125.03M | 157.81M | 237.9M |
Efficiency Ratio | 16.77% | 12.53% | 32.32% | 35.52% | 36.17% | 38.16% | 42.17% | 61.99% |
Operating Income | 46.54M▲ 0% | 64.83M▲ 39.3% | 67.21M▲ 3.7% | 137.22M▲ 104.2% | 130.41M▼ 5.0% | 163.86M▲ 25.6% | 165.9M▲ 1.2% | 131.3M▼ 20.9% |
Operating Margin % | 44.04% | 52.5% | 58.43% | 58.27% | 50.38% | 50.01% | 44.33% | 34.21% |
Operating Income Growth % | - | 39.29% | 3.68% | 104.18% | -4.97% | 25.65% | 1.25% | -20.86% |
Pretax Income | 46.46M▲ 0% | 64.45M▲ 38.7% | 64.98M▲ 0.8% | 121.57M▲ 87.1% | 102.45M▼ 15.7% | 118M▲ 15.2% | 85.99M▼ 27.1% | 92.2M▲ 7.2% |
Pretax Margin % | 43.96% | 52.19% | 56.49% | 51.62% | 39.58% | 36.02% | 22.98% | 24.02% |
Income Tax | 1.99M | 3.51M | 3.14M | 381K | 8.35M | -2.82M | 10.31M | 1.7M |
Effective Tax Rate % | 4.29% | 5.45% | 4.83% | 0.31% | 8.15% | -2.39% | 11.98% | 1.84% |
Net Income | 43.67M▲ 0% | 58.54M▲ 34.1% | 62.21M▲ 6.3% | 122.48M▲ 96.9% | 92.96M▼ 24.1% | 118.4M▲ 27.4% | 71.88M▼ 39.3% | 85.6M▲ 19.1% |
Net Margin % | 41.33% | 47.41% | 54.09% | 52% | 35.91% | 36.14% | 19.21% | 22.3% |
Net Income Growth % | - | 34.05% | 6.27% | 96.88% | -24.1% | 27.37% | -39.29% | 19.1% |
Net Income (Continuing) | 44.46M | 60.94M | 61.84M | 121.19M | 94.1M | 120.81M | 75.69M | 90.5M |
EPS (Diluted) | 0.37▲ 0% | 0.44▲ 18.9% | 0.47▲ 6.8% | 0.90▲ 91.5% | 0.63▼ 30.0% | 0.80▲ 27.0% | 0.47▼ 41.3% | 0.54▲ 14.9% |
EPS Growth % | - | 18.92% | 6.82% | 91.49% | -30% | 26.98% | -41.25% | 14.89% |
EPS (Basic) | 0.37 | 0.44 | 0.47 | 0.90 | 0.63 | 0.80 | 0.47 | 0.54 |
Diluted Shares Outstanding | 117M | 133.65M | 133.65M | 135.98M | 147.23M | 148.68M | 153.59M | 157.97M |
PAX Balance Sheet
Patria Investments Limited (PAX) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|
Cash & Short Term Investments | 42.11M | 37.15M | 23.98M | 167.13M | 72.06M | 33.2M | 38.37M | 88.71M |
Cash & Due from Banks | 2.35M | 4.12M | 14.05M | 15.26M | 26.52M | 16.05M | 33.42M | 53.6M |
Short Term Investments | 39.77M | 33.03M | 9.93M | 151.87M | 45.54M | 17.15M | 4.96M | 35.11M |
Total Investments | 61.56M | 36.7M | 11.91M | 170.14M | 88.78M | 75.8M | 54.98M | 79.67M |
Investments Growth % | - | -40.39% | -67.53% | 1327.98% | -47.82% | -14.62% | -27.46% | 44.91% |
Long-Term Investments | 21.8M | 3.67M | 1.99M | 18.28M | 43.23M | 58.65M | 50.03M | 44.56M |
Accounts Receivables | 8.66M | 11.01M | 24.02M | 97.12M | 125.41M | 127.36M | 217.13M | 118.58M |
Goodwill & Intangibles | 31.55M | 25.46M | 22.36M | 358.91M | 411.52M | 487.01M | 700.87M | 824.15M |
Goodwill | 0 | 0 | 0 | 242.89M | 276.82M | 311.17M | 355.96M | 440.13M |
Intangible Assets | 31.55M | 25.46M | 22.36M | 116.02M | 134.7M | 175.84M | 344.91M | 384.02M |
PP&E (Net) | 3.51M | 6.6M | 3.96M | 16.45M | 26.41M | 30.2M | 34.87M | 44.92M |
Other Assets | 1.07M | 16.31M | 22.89M | 11.92M | 13.69M | 18.66M | 31.84M | 155.46M |
Total Current Assets | 59.08M | 56.82M | 53.67M | 352.32M | 479.64M | 401.59M | 372.68M | 405.27M |
Total Non-Current Assets | 63.86M | 58.03M | 53.53M | 409M | 496.6M | 609.99M | 833.43M | 1.09B |
Total Assets | 122.94M▲ 0% | 114.86M▼ 6.6% | 107.2M▼ 6.7% | 761.32M▲ 610.2% | 976.24M▲ 28.2% | 1.01B▲ 3.6% | 1.21B▲ 19.2% | 1.5B▲ 24.0% |
Asset Growth % | - | -6.58% | -6.66% | 610.17% | 28.23% | 3.62% | 19.23% | 23.96% |
Return on Assets (ROA) | 35.52% | 49.23% | 56.03% | 28.2% | 10.7% | 11.91% | 6.48% | 6.34% |
Accounts Payable | 1.42M | 492K | 3.04M | 7.22M | 3.26M | 4.81M | 41.79M | 58.84M |
Total Debt | 0 | 3.1M | 1.58M | 7.86M | 16.09M | 15.84M | 250.41M | 198.68M |
Net Debt | -2.35M | -1.02M | -12.47M | -7.4M | -10.43M | -214K | 216.99M | 145.08M |
Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 149.45M | 174.87M |
Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 78.52M | 0 |
Other Liabilities | 23.1M | 4.78M | 3.1M | 33.9M | 110.93M | 79.92M | 147.84M | 199.97M |
Total Current Liabilities | 22.16M | 19.04M | 44.04M | 156.23M | 338M | 397.5M | 397.39M | 415.01M |
Total Non-Current Liabilities | 23.16M | 7.07M | 4.09M | 40.81M | 124.78M | 92.74M | 317.79M | 446.68M |
Total Liabilities | 45.32M | 26.11M | 48.13M | 197.04M | 462.78M | 490.24M | 715.17M | 861.69M |
Total Equity | 77.62M▲ 0% | 88.75M▲ 14.3% | 59.07M▼ 33.4% | 564.28M▲ 855.2% | 513.46M▼ 9.0% | 521.34M▲ 1.5% | 490.93M▼ 5.8% | 633.42M▲ 29.0% |
Equity Growth % | - | 14.33% | -33.44% | 855.23% | -9.01% | 1.54% | -5.83% | 29.02% |
Equity / Assets (Capital Ratio) | 63.14% | 77.27% | 55.1% | 74.12% | 52.6% | 51.54% | 40.7% | 42.37% |
Return on Equity (ROE) | 56.26% | 70.37% | 84.17% | 39.3% | 17.25% | 22.88% | 14.2% | 15.23% |
Book Value per Share | 0.66 | 0.66 | 0.44 | 4.15 | 3.49 | 3.51 | 3.20 | 4.01 |
Tangible BV per Share | 0.39 | 0.47 | 0.27 | 1.51 | 0.69 | 0.23 | -1.37 | -1.21 |
Common Stock | 1K | 1K | 1K | 15K | 15K | 15K | 15K | 16K |
Additional Paid-in Capital | 1.56M | 1.56M | 1.56M | 485.18M | 485.18M | 500.69M | 527.24M | 589.4M |
Retained Earnings | 72.91M | 85.48M | 62M | 87.95M | 77.58M | 50.83M | 0 | 0 |
Accumulated OCI | -2.85M | -5.88M | -6.24M | -8.86M | -9.98M | -9.05M | -46.18M | 22.33M |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
PAX Cash Flow Statement
Patria Investments Limited (PAX) cash flow — operating, investing & free cash flow history
| Metric | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|
Cash from Operations | 39.52M | 44.47M | 52.7M | 107.56M | 81.05M | 156.72M | 145.95M | 268.87M |
Operating CF Growth % | - | 12.52% | 18.5% | 104.12% | -24.65% | 93.37% | -6.88% | 84.22% |
Net Income | 44.46M | 58.54M | 62.21M | 121.19M | 94.1M | 120.81M | 75.69M | 85.6M |
Depreciation & Amortization | 7.2M | 8.28M | 7.69M | 8.76M | 21.2M | 27.12M | 35.82M | 0 |
Deferred Taxes | 1.99M | 3.51M | 0 | 381K | 8.35M | -2.82M | 10.31M | 0 |
Other Non-Cash Items | -6.99M | -4.43M | 1.14M | -345K | -20M | -7.83M | 15.91M | 73.6M |
Working Capital Changes | -7.14M | -21.43M | -18.34M | -23.19M | -23.33M | 17.97M | -10.87M | 109.67M |
Cash from Investing | 7.81M | 11.25M | 23.51M | -284.23M | -189.35M | 62.17M | 25.31M | 2.3M |
Purchase of Investments | 0 | -13.03M | 0 | -159.62M | -256.76M | -9.79M | -3.83M | -35.79M |
Sale/Maturity of Investments | 9.22M | 24.43M | 24.17M | 159.62M | 108.86M | 31.08M | 10.68M | 68.46M |
Net Investment Activity | 9.22M | 11.4M | 24.17M | 0 | -147.9M | 21.28M | 6.84M | 32.67M |
Acquisitions | 0 | -68K | 0 | -122.77M | -34.73M | -7.16M | -112.57M | -1.08M |
Other Investing | -408K | 143K | 0 | -159.62M | 0 | 53.91M | 134.65M | 0 |
Cash from Financing | -48.01M | -53.77M | -66.24M | 177.89M | 118.55M | -229.63M | -151.65M | -254.46M |
Dividends Paid | -38.01M | -46.4M | -60.93M | -119.79M | -103.33M | -145.15M | -132.38M | -95.14M |
Share Repurchases | 0 | 0 | 0 | 0 | 0 | -65.16M | -141.3M | -56.23M |
Stock Issued | 0 | 0 | 0 | 302.72M | 230M | 0 | 0 | 6.68M |
Net Stock Activity | 0 | 0 | 0 | 302.72M | 230M | -65.16M | -141.3M | -49.55M |
Debt Issuance (Net) | 0 | -987K | -893K | -832K | -1000K | -1000K | 1000K | -1000K |
Other Financing | -10M | -6.39M | -4.42M | -4.21M | -6.47M | -15.91M | -90.6M | -56.73M |
Net Change in Cash | -978K▲ 0% | 1.77M▲ 281.4% | 9.93M▲ 459.9% | 1.21M▼ 87.8% | 11.26M▲ 828.6% | -10.47M▼ 193.0% | 17.37M▲ 265.9% | 20.18M▲ 16.2% |
Exchange Rate Effect | -293K | -175K | -35K | -12K | 1M | 267K | -2.24M | 3.47M |
Cash at Beginning | 3.32M | 2.35M | 4.12M | 14.05M | 15.26M | 26.52M | 16.05M | 33.42M |
Cash at End | 2.35M | 4.12M | 14.05M | 15.26M | 26.52M | 16.05M | 33.42M | 53.6M |
Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Income Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Free Cash Flow | 38.09M▲ 0% | 44.25M▲ 16.2% | 52.03M▲ 17.6% | 105.72M▲ 103.2% | 74.34M▼ 29.7% | 141.71M▲ 90.6% | 137.66M▼ 2.9% | 258.31M▲ 87.6% |
FCF Growth % | - | 16.18% | 17.59% | 103.17% | -29.68% | 90.62% | -2.85% | 87.64% |
PAX Banking Ratios
Patria Investments Limited (PAX) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | 56.26% | 70.37% | 84.17% | 39.3% | 17.25% | 22.88% | 14.2% | 15.23% |
Return on Assets (ROA) | 35.52% | 49.23% | 56.03% | 28.2% | 10.7% | 11.91% | 6.48% | 6.34% |
Net Interest Margin | -0.25% | 0.81% | -0.81% | -0.13% | -0.19% | -0.12% | -0.95% | -2.61% |
Efficiency Ratio | 16.77% | 12.53% | 32.32% | 35.52% | 36.17% | 38.16% | 42.17% | 61.99% |
Equity / Assets | 63.14% | 77.27% | 55.1% | 74.12% | 52.6% | 51.54% | 40.7% | 42.37% |
Book Value / Share | 0.66 | 0.66 | 0.44 | 4.15 | 3.49 | 3.51 | 3.2 | 4.01 |
NII Growth | - | 408.91% | -192.41% | -18.15% | -76.81% | 31.21% | -817.3% | -242.05% |
Dividend Payout | 87.04% | 79.26% | 97.94% | 97.81% | 111.16% | 122.59% | 184.19% | 111.15% |
Related:PAX Dividend History·PAX Revenue History·PAX Price History·PAX P/E History·PAX Financial Ratios·PAX Institutional Holders
PAX Frequently Asked Questions
Patria Investments Limited (PAX) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Patria Investments Limited (PAX) grew revenue by 2.6% over the past year. Growth has been modest.
Yes, Patria Investments Limited (PAX) is profitable, generating $85.5M in net income for fiscal year 2025 (22.3% net margin).
Dividend & Returns
Yes, Patria Investments Limited (PAX) pays a dividend with a yield of 5.30%. This makes it attractive for income-focused investors.
Patria Investments Limited (PAX) has a return on equity (ROE) of 15.2%. This is reasonable for most industries.
Industry Metrics
Patria Investments Limited (PAX) has a net interest margin (NIM) of -2.6%. NIM has been under pressure due to interest rate environment.
Patria Investments Limited (PAX) has an efficiency ratio of 62.0%. This is reasonable for a bank.