Patria Investments Limited (PAX) Revenue History
Annual and quarterly revenue from 2018 to 2025
Compound Annual Growth Rate (CAGR)
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PAX Revenue Growth
Revenue Breakdown (FY 2023)
PAX's revenue distribution by segment and geography for fiscal year 2023
By Product/Segment
By Geography
PAX Revenue Analysis (2018–2025)
As of May 6, 2026, Patria Investments Limited (PAX) generated trailing twelve-month (TTM) revenue of $382.9 million, reflecting significant decline in growth of -14.5% year-over-year. The most recent quarter (Q4 2025) recorded $134.4 million in revenue, up 55.4% sequentially.
Looking at the longer-term picture, PAX's 5-year compound annual growth rate (CAGR) stands at +27.3%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $383.8 million in 2025, representing a new all-time high.
Revenue diversification analysis shows PAX's business is primarily driven by Advisory and Other Ancillary Fees (100%). With over half of revenue concentrated in Advisory and Other Ancillary Fees, the company maintains significant focus in this area while developing other growth vectors.
When compared to Financial Services sector peers including BX, KKR, and APO, PAX has underperformed the peer group in terms of revenue growth. Compare PAX vs BX →
PAX Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| PAXCurrent | $383M | -14.5% | +27.3% | 34.2% | |
 BX | $13.8B | - | - | 51.9% | |
 KKR | $19.3B | - | - | 2.4% | |
 APO | $30.3B | - | - | 34.4% | |
 CG | $4.9B | - | - | 26.2% | |
 EQT | $9.1B | +58.4% | +27.8% | 34.7% |
PAX Historical Revenue Data (2018–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $383.8M | - | $369.2M | 96.2% | $131.3M | 34.2% |
| 2024 | $374.2M | - | $323.7M | 86.5% | $165.9M | 44.3% |
| 2023 | $327.6M | - | $288.9M | 88.2% | $163.9M | 50.0% |
| 2022 | $258.9M | - | $224.1M | 86.5% | $130.4M | 50.4% |
| 2021 | $235.5M | - | $220.9M | 93.8% | $137.2M | 58.3% |
| 2020 | $115.0M | - | $104.4M | 90.8% | $67.2M | 58.4% |
| 2019 | $123.5M | - | $80.3M | 65.0% | $64.8M | 52.5% |
| 2018 | $105.7M | - | $64.3M | 60.8% | $46.5M | 44.0% |
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Start ComparisonPAX — Frequently Asked Questions
Quick answers to the most common questions about buying PAX stock.
Is PAX's revenue growth accelerating or slowing?
PAX revenue declined -14.5% year-over-year, contrasting with the 5-year CAGR of +27.3%. TTM revenue fell to $383M. This reverses the prior growth trend.
What is PAX's long-term revenue growth rate?
Patria Investments Limited's 5-year revenue CAGR of +27.3% reflects the variable expansion pattern. Current YoY growth of -14.5% is below this long-term average.
How is PAX's revenue distributed by segment?
PAX reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2018-2025 are available for download. Segment mix reveals concentration and diversification trends.