Patria Investments Limited (PAX) Financial Ratios
8 years of historical data (2018–2025) · Financial Services · Asset Management
EV/EBITDA
↑
14.92
+5% vs avg
5yr avg: 14.14
30Y Low9.9·High20.2
P/FCF
↓
7.02
↓-60% vs avg
5yr avg: 17.48
30Y Low9.7·High27.6
P/B Ratio
↑
2.84
↓-29% vs avg
5yr avg: 3.98
30Y Low3.6·High4.4
ROE
↓
15.2%
↑-30% vs avg
5yr avg: 21.8%
30Y Low14%·High84%
Debt/EBITDA
↑
1.51
↑+152% vs avg
5yr avg: 0.60
30Y Low0.0·High1.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
PAX Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Patria Investments Limited trades at 21.1x earnings, 7% below its 5-year average of 22.7x, sitting at the 40th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a premium of 55%. On a free-cash-flow basis, the stock trades at 7.0x P/FCF, 60% below the 5-year average of 17.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.8B | $2.5B | $1.8B | $2.3B | $2.1B | $2.2B | — | — | — |
| Enterprise Value | $2.0B | $2.7B | $2.0B | $2.3B | $2.0B | $2.2B | — | — | — |
| P/E Ratio → | 21.06 | 29.43 | 24.74 | 19.39 | 22.11 | 18.00 | — | — | — |
| P/S Ratio | 4.73 | 6.54 | 4.77 | 7.04 | 7.92 | 9.35 | — | — | — |
| P/B Ratio | 2.84 | 3.96 | 3.64 | 4.42 | 3.99 | 3.90 | — | — | — |
| P/FCF | 7.02 | 9.72 | 12.98 | 16.27 | 27.59 | 20.84 | — | — | — |
| P/OCF | 6.75 | 9.34 | 12.24 | 14.71 | 25.30 | 20.48 | — | — | — |
P/E links to full P/E history page with 30-year chart
PAX EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Patria Investments Limited's enterprise value stands at 14.9x EBITDA, 5% above its 5-year average of 14.1x. The Financial Services sector median is 11.4x, placing the stock at a 31% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.92 | 5.35 | 7.04 | 7.88 | 9.32 | — | — | — |
| EV / EBITDA | 14.92 | 20.22 | 9.93 | 12.07 | 13.46 | 15.04 | — | — | — |
| EV / EBIT | 14.92 | 20.22 | 20.57 | 19.34 | 19.57 | 17.91 | — | — | — |
| EV / FCF | — | 10.28 | 14.55 | 16.27 | 27.45 | 20.77 | — | — | — |
PAX Profitability
Margins and return-on-capital ratios measuring operating efficiency
Patria Investments Limited earns an operating margin of 34.2%, above the Financial Services sector average of 20.3%. Operating margins have compressed from 50.0% to 34.2% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 15.2% indicates solid capital efficiency, compared to the sector median of 9.0%. ROIC of 12.5% represents solid returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 96.2% | 96.2% | 86.5% | 88.2% | 86.5% | 93.8% | 90.8% | 65.0% | 60.8% |
| Operating Margin | 34.2% | 34.2% | 44.3% | 50.0% | 50.4% | 58.3% | 58.4% | 52.5% | 44.0% |
| Net Profit Margin | 22.3% | 22.3% | 19.2% | 36.1% | 35.9% | 52.0% | 54.1% | 47.4% | 41.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.2% | 15.2% | 14.2% | 22.9% | 17.3% | 39.3% | 84.2% | 70.4% | 56.3% |
| ROA | 6.3% | 6.3% | 6.5% | 11.9% | 10.7% | 28.2% | 56.0% | 49.2% | 35.5% |
| ROIC | 12.5% | 12.5% | 19.5% | 23.0% | 17.8% | 32.5% | 66.1% | 57.4% | 45.0% |
| ROCE | 13.9% | 13.9% | 23.3% | 26.2% | 21.0% | 41.1% | 84.6% | 65.9% | 46.2% |
PAX Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Patria Investments Limited carries a Debt/EBITDA ratio of 1.5x, which is manageable (64% below the sector average of 4.3x). Net debt stands at $145M ($199M total debt minus $54M cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.31 | 0.31 | 0.51 | 0.03 | 0.03 | 0.01 | 0.03 | 0.03 | — |
| Debt / EBITDA | 1.51 | 1.51 | 1.24 | 0.08 | 0.11 | 0.05 | 0.02 | 0.04 | — |
| Net Debt / Equity | — | 0.23 | 0.44 | -0.00 | -0.02 | -0.01 | -0.21 | -0.01 | -0.03 |
| Net Debt / EBITDA | 1.10 | 1.10 | 1.08 | -0.00 | -0.07 | -0.05 | -0.17 | -0.01 | -0.04 |
| Debt / FCF | — | 0.56 | 1.58 | -0.00 | -0.14 | -0.07 | -0.24 | -0.02 | -0.06 |
| Interest Coverage | — | — | 8.54 | 95.93 | 57.70 | 119.95 | 75.77 | — | 226.51 |
PAX Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.98x is below 1.0, meaning current liabilities exceed current assets.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.98 | 0.98 | 0.94 | 1.01 | 1.42 | 2.26 | 1.22 | 2.98 | 2.67 |
| Quick Ratio | 0.98 | 0.98 | 0.94 | 1.01 | 1.42 | 2.26 | 1.22 | 2.98 | 2.67 |
| Cash Ratio | 0.13 | 0.13 | 0.08 | 0.04 | 0.08 | 0.10 | 0.32 | 0.22 | 0.11 |
| Asset Turnover | — | 0.26 | 0.31 | 0.32 | 0.27 | 0.31 | 1.07 | 1.08 | 0.86 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — |
PAX Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Patria Investments Limited returns 8.4% to shareholders annually — split between a 5.3% dividend yield and 3.1% buyback yield. The payout ratio exceeds 100% at 111.1%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 4.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 5.3% | — | — | — | — | — | — | — | — |
| Payout Ratio | 111.1% | 111.1% | 184.2% | 122.6% | 111.2% | 97.8% | 97.9% | 79.3% | 87.0% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.7% | 3.4% | 4.0% | 5.2% | 4.5% | 5.6% | — | — | — |
| FCF Yield | 14.2% | 10.3% | 7.7% | 6.1% | 3.6% | 4.8% | — | — | — |
| Buyback Yield | 3.1% | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 8.4% | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $158M | $154M | $149M | $147M | $136M | $134M | $134M | $117M |
Peer Comparison
Compare PAX with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 PAXYou | $2B | 21.1 | 14.9 | 7.0 | 96.2% | 34.2% | 15.2% | 12.5% | 1.5 |
 BX | $97B | 31.9 | 14.9 | 55.6 | 86.0% | 51.9% | 14.6% | 16.1% | 1.8 |
 KKR | $86B | 41.5 | 19.8 | 9.1 | 41.8% | 2.4% | 3.3% | 0.3% | 7.7 |
 APO | $79B | 18.9 | 6.4 | 10.6 | 88.5% | 34.4% | 12.2% | 16.0% | 1.2 |
 CG | $16B | 20.6 | 20.1 | 11.9 | 65.9% | 26.2% | 12.1% | 5.2% | 10.4 |
 EQT | $32B | 15.3 | 6.8 | 11.2 | 48.9% | 34.7% | 7.9% | 6.9% | 1.4 |
 BAM | $78B | 30.6 | 27.6 | — | 93.2% | 57.6% | 37.3% | 24.3% | 1.3 |
 ARES | $42B | 66.0 | 27.9 | 27.5 | 74.8% | 27.2% | 6.8% | 6.1% | 7.4 |
 BN | $99B | 88.9 | 12.3 | — | 38.8% | 28.6% | 0.8% | 3.7% | 9.7 |
 TPG | $16B | 34.8 | 20.7 | 16.1 | 96.9% | 14.7% | 4.8% | 9.3% | 2.1 |
 HLNE | $5B | 13.9 | 13.6 | 10.0 | 69.9% | 42.8% | 20.8% | 15.6% | 1.1 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 8 years · Updated daily
Consensus-Based Analysis Tools
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
PAX — Frequently Asked Questions
Quick answers to the most common questions about buying PAX stock.
What is Patria Investments Limited's P/E ratio?
Patria Investments Limited's current P/E ratio is 21.1x. The historical average is 22.7x. This places it at the 40th percentile of its historical range.
What is Patria Investments Limited's EV/EBITDA?
Patria Investments Limited's current EV/EBITDA is 14.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.1x.
What is Patria Investments Limited's ROE?
Patria Investments Limited's return on equity (ROE) is 15.2%. The historical average is 40.0%.
Is PAX stock overvalued?
Based on historical data, Patria Investments Limited is trading at a P/E of 21.1x. This is at the 40th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Patria Investments Limited's dividend yield?
Patria Investments Limited's current dividend yield is 5.30% with a payout ratio of 111.1%.
What are Patria Investments Limited's profit margins?
Patria Investments Limited has 96.2% gross margin and 34.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Patria Investments Limited have?
Patria Investments Limited's Debt/EBITDA ratio is 1.5x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.