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Patrick Industries, Inc.

PATK Consumer Cyclical Recreational Vehicles

Patrick Industries, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.0 billion, up 6.33% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS grew 36.0%, free cash flow fell 49.4% and total debt rose 11.5%, each against the same quarter a year earlier. Dividend growth for five consecutive years; insiders bought in the last twelve months.

68.04 0.09 −0.13%
Market cap
$2.2B
P/E
14.9×
Fwd P/E
17.4×
Dividend yield
2.76%
F-score
7/9
Altman Z
3.35
Beneish M
−2.76
Dividend safety
70/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 3.82
Total sells 5.73
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — 2 2 — 7 1 — — — —
Sell — 1 — 3 1 — — — — — — —
Insider Ownership 3.71%

Capital & Financial Ratios $m

Market Cap 2,190.00
Revenue 3,938.68
Net Income 147.28
Free Cash Flow 130.39
Net Debt 1,389.59
Current Ratio 2.67 (at or above 1.5: strong)
Debt/Equity 1.25
P/E ratio 14.92
Fwd P/E 17.40
P/S ratio 0.55
P/B ratio 1.92
Past 5Y EPS Growth 6.85%
This Y EPS Growth (5.74%) (below 0%: weak)
Next Y EPS Growth 22.66% (at or above 15%: strong)
Next Y revenue growth (1.87%) (below 0%: weak)
Next 5Y EPS Growth 14.98%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.9×, against a ten-year median of 0.9×; over the ten years it ranged from 0.4× in 2022 to 1.4× in 2026.
P/E against its own 10 years 44.71%
10-year low 10-year high
P/S against its own 10 years 36.97%
10-year low 10-year high
P/B against its own 10 years 19.39%
10-year low 10-year high
EV/Sales against its own 10 years 44.16%
10-year low 10-year high
EV/FCF against its own 10 years 97.64%
10-year low 10-year high

Dividends

Payout Ratio 0.45
Annual Dividend Rate 1.88
Annual Dividend Yield 2.76%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.87
0.47
0.47
0.47
2025 1.67
0.40
0.40
0.40
0.47
2024 1.50
0.37
0.37
0.37
0.40
2023 1.27
0.30
0.30
0.30
0.37
2022 0.96
0.22
0.22
0.22
0.30
2021 0.78
0.19
0.19
0.19
0.22
2020 0.69
0.17
0.17
0.17
0.19
2019 0.17
0.17
2018 Powerpack
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 11 34 26 29
Receivables 164 178 185 277
Inventory 510 552 595 653
Other — — — —
735 823 873 1,022
2023 2024 2025 Q'26
Payables 141 188 192 224
ST’ Debt 8 6 6 6
Other — — 0 0
308 354 348 383

Compound Annual Growth %

10y 5y 3y
Sales 15.68% 9.70% (6.81%)
Cash Flow 17.29% 15.52% (7.17%)
Earnings 12.33% 6.83% (25.62%)
Book Value 24.86% 16.18% 7.43%

Revenue $m

Mar Jun Sep Dec Year
’26 997 1,042 — — —
’25 1,003 1,048 976 924 3,951
’24 933 1,017 919 846 3,716
’23 900 921 866 781 3,468
’22 1,342 1,476 1,112 952 4,882
’21 850 1,020 1,060 1,147 4,078
’20 589 424 701 773 2,487
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (14) 83 — — —
’25 40 149 9 131 329
’24 35 137 52 103 327
’23 (1) 179 115 115 409
’22 (23) 97 156 182 412
’21 50 28 69 105 252
’20 13 26 73 47 160
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (32) 66 — — —
’25 22 131 (17) 113 245
’24 20 123 34 77 226
’23 (21) 164 105 104 348
’22 (35) 72 137 166 339
’21 36 16 51 84 188
’20 6 23 63 38 128
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 1.10 1.28 — — —
’25 1.11 0.96 1.01 0.83 3.90
’24 1.06 1.44 1.20 0.42 4.11
’23 0.90 1.29 1.21 0.94 4.33
’22 3.03 3.19 1.62 1.12 8.99
’21 1.36 1.68 1.63 1.75 6.42
’20 0.61 0.02 1.08 1.09 2.80
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 13.01 26.71 18.21 19.19 11.13 44.38 27.83 39.63 60.67 72.99

Analyst estimates 2026–2028

Powerpack
High 35.18 46.93 48.23 37.25 48.56 65.89 55.46 68.33 98.90 116.78
People
People Employees 4,497 6,721 8,113 7,500 8,700 11,000 11,000 10,000 10,000 10,000
Revenue/emp, $m 0.27 0.24 0.28 0.31 0.29 0.37 0.44 0.35 0.37 0.40
Income, $m
Income, $m Revenue 1,222 1,636 2,263 2,337 2,487 4,078 4,882 3,468 3,716 3,951
Gross margin, % 16.57 17.05 18.38 18.09 18.46 19.65 21.71 22.56 22.50 23.11
EBT 84 113 152 118 130 294 435 191 179 177
EBT margin, % 6.85 6.92 6.72 5.04 5.24 7.20 8.92 5.51 4.81 4.48
Net income 56 86 120 90 97 225 328 143 138 135
Depreciation 24 34 61 70 80 113 135 148 170 173
Per share, $
Per share, $ Revenue 36.18 45.01 62.88 67.58 72.94 119.36 147.00 107.44 114.09 121.61
Earnings 1.64 2.36 3.33 2.59 2.85 6.58 9.88 4.43 4.25 4.16
Cash flow 2.88 2.75 5.56 5.56 4.70 7.38 12.40 12.66 10.04 10.14
Capex (0.45) (0.59) (0.78) (0.67) (0.94) (1.89) (2.19) (1.88) (3.10) (2.61)
Free cash flow 2.43 2.16 4.78 4.89 3.76 5.49 10.21 10.78 6.93 7.53
Book value 5.49 10.20 11.36 14.38 16.41 22.47 28.76 32.39 34.65 36.45
Shares, m 34 36 36 35 34 34 33 32 33 32
Valuation, ×
Valuation, × P/E 21.39 19.77 5.92 13.51 15.97 8.17 4.13 15.01 19.55 26.06
P/S 0.95 1.04 0.31 0.52 0.62 0.45 0.28 0.62 0.73 0.89
P/B 6.27 4.58 1.74 2.43 2.78 2.39 1.41 2.05 2.40 2.97
EV/Sales 1.17 1.25 0.59 0.75 0.94 0.74 0.53 0.91 1.07 1.21
EV/FCF 17.42 26.04 7.76 10.31 18.14 16.01 7.69 9.32 18.41 22.70
Cash, $m
Cash, $m Operating cash flow 97 100 200 192 160 252 412 409 327 329
Capex (15) (21) (28) (23) (32) (65) (73) (61) (101) (85)
Free cash flow 82 79 172 169 128 188 339 348 226 245
Balance, $m
Balance, $m Working capital 87 138 227 330 301 541 543 426 469 525
Total debt 273 354 631 675 818 1,286 1,284 1,026 1,318 1,289
Net debt 266 351 624 536 774 1,164 1,261 1,014 1,284 1,263
Shareholders’ equity 185 371 409 497 559 768 955 1,045 1,128 1,184
Returns, %
Returns, % ROA 12.13 12.23 11.42 6.63 6.02 10.21 12.08 5.35 4.96 4.43
ROIC 12.57 10.56 10.80 9.34 8.13 11.38 13.99 7.90 6.68 7.05
ROE 35.39 30.83 30.75 19.77 18.37 33.90 38.10 14.29 12.73 11.68
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Patrick Industries, Inc. vs peers in Recreational Vehicles (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BC Brunswick Corporation $4.3B — (loss-making) 21.9× +7.66% (above 0%: growing) +88.76% (above 0%: growing) +0.80% (above 0%: growing) 28.10% 8.31% Compare
DOO BRP Inc. $4.0B 48.0× — +16.59% (above 0%: growing) n/m +116.16% (above 0%: growing) 11.74% (2.24%) Compare
THO Thor Industries, Inc. $3.6B 20.1× 15.7× −8.41% (below 0%: shrinking) −66.96% (below 0%: shrinking) −26.73% (below 0%: shrinking) 12.36% 2.19% Compare
PII Polaris Inc. $3.0B — (loss-making) 70.0× +9.18% (above 0%: growing) n/m −33.49% (below 0%: shrinking) 23.65% 7.36% Compare
HOG Harley-Davidson, Inc. $2.9B 15.9× 65.6× −5.86% (below 0%: shrinking) −14.61% (below 0%: shrinking) −53.23% (below 0%: shrinking) 31.74% 6.18% Compare
PATK Patrick Industries, Inc. $2.2B 14.9× 17.4× −0.56% (below 0%: shrinking) +36.00% (above 0%: growing) −49.38% (below 0%: shrinking) 23.77% 7.40%
LCII LCI Industries $2.0B 9.7× 10.6× −12.52% (below 0%: shrinking) +20.52% (above 0%: growing) +88.04% (above 0%: growing) 31.09% 9.91% Compare
WGO Winnebago Industries, Inc. $697.1M 17.6× 16.1× −9.86% (below 0%: shrinking) −19.05% (below 0%: shrinking) +155.68% (above 0%: growing) 13.58% 3.29% Compare
MCFT MASTERCRAFT BOAT HOLDINGS, INC. $462.9M — (loss-making) 12.7× +63.41% (above 0%: growing) n/m −18.29% (below 0%: shrinking) 22.56% (4.86%) Compare
Median of peers $3.0B 17.6× 16.1× +0.90% −14.61% −8.74% 23.10% 4.74%

All 16 Recreational Vehicles stocks →

Patrick Industries, Inc. (PATK) key facts

  • Concern: Net income was $135.1 million, or $4.16 per share (basic), a net margin of 3.42%.
  • Strength: Patrick Industries, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.0 billion, up 6.33% from fiscal 2024.
  • Patrick Industries, Inc. (PATK) is a Recreational Vehicles company in the Consumer Cyclical sector, listed on Nasdaq.
  • As of October 16, 2026, PATK traded at $68.04, a market capitalization of $2.2 billion.
  • At that price the stock trades at 14.9× trailing-twelve-month earnings and 0.6× sales; its P/E is higher than 45% of its own readings over the past ten years.
  • Patrick Industries, Inc. pays an annual dividend of $1.88 per share, a yield of 2.76%, with a payout ratio of 44.6%.
  • Return on equity was 11.7% and debt-to-equity 1.25.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 3.35 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Patrick Industries, Inc. (PATK) Latest News

2 Jul

Impact 5 ·

30 Jun

Impact 5 ·
Impact 5 ·
stockrow.com/PATK · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com