Saturday 17 October 2026 Export PAX’s income statement to Excel — free account

Patria Investments Limited

Patria Investments Limited’s revenue for fiscal 2025 (year ended December 2025) was $381.7 million, up 2.01% from fiscal 2024. In the quarter to June 2026, revenue grew 34.9%, EPS grew 13.1%, free cash flow fell 42.4% and total debt rose 115.7%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.

11.70 0.11 −0.93%

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Market cap: $1.9B
P/E: 25.4×
Fwd P/E: 16.5×
Dividend yield: 5.34%
F-score: 5/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 2.67

Total sells 0.17

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	3	2	—	—	—	—
Sell	—	—	—	—	—	1	—	—	—	—	—	—

Insider Ownership 59.45%

Capital & Financial Ratios $m

Market Cap 1,940.00

Revenue 428.00

Net Income 79.08

Free Cash Flow 151.86

Net Debt 233.87

Current Ratio 1.04

Debt/Equity 0.54

P/E ratio 25.41

Fwd P/E 16.50

P/S ratio 4.41

P/B ratio 2.95

Past 5Y EPS Growth 3.26%

This Y EPS Growth 5.51%

Next Y EPS Growth 6.90%

Next Y revenue growth 13.77%

Next 5Y EPS Growth 7.45%

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

Valuation vs history

P/E against its own 10 years 69.54%

10-year low 10-year high

P/S against its own 10 years 7.01%

10-year low 10-year high

P/B against its own 10 years 8.33%

10-year low 10-year high

Dividends

Payout Ratio 1.36

Annual Dividend Rate 0.63

Annual Dividend Yield 5.34%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	0.65	0.15 0.16 0.16
2025	0.60	0.15 0.15 0.15 0.15 0.15
2024	1.02	0.40 0.18 0.15 0.15 0.15
2023	0.98	0.31 0.23 0.25 0.20
2022	0.70	0.16 0.20 0.17 0.17
2021	0.71	0.11 0.46 0.14
2020	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	224	110	223	113
Receivables	131	222	128	301
Inventory	—	—	—	—
Other	46	41	54	159
	402	373	405	574

	2023	2024	2025	Q'26
Payables	—	—	—	—
ST’ Debt	—	—	—	2
Other	289	154	201	347
	397	397	415	554

Compound Annual Growth %

	10y	5y	3y
Sales	—	27.12%	13.82%
Cash Flow	—	39.92%	53.63%
Earnings	—	7.80%	(0.87%)
Book Value	—	60.72%	7.25%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	97	111	—	—	—
’25	80	83	86	133	382
’24	64	75	78	157	374
’23	74	79	64	112	328
’22	55	56	57	91	259
’21	31	119	40	46	236
’20	26	25	33	32	115

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	31	40	—	—	—
’25	100	77	66	40	283
’24	42	10	68	26	146
’23	29	43	45	39	157
’22	26	8	56	(12)	78
’21	35	(3)	48	28	108
’20	18	0	41	(7)	53

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	27	42	—	—	—
’25	98	73	52	31	253
’24	40	9	66	23	138
’23	29	38	43	33	142
’22	25	5	51	(10)	71
’21	34	(3)	47	27	106
’20	18	0	39	(5)	52

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.01	0.09	—	—	—
’25	0.09	0.08	0.14	0.22	0.54
’24	0.10	0.01	0.01	0.38	0.48
’23	0.13	0.25	0.12	0.31	0.79
’22	0.13	0.11	0.08	0.31	0.63
’21	0.11	0.54	0.16	0.09	0.88
’20	0.11	0.11	0.17	0.12	0.46

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	—	—	—	13.40	12.25	12.81	10.63	9.43	Analyst estimates 2026–2028 Powerpack
	High	—	—	—	—	—	23.28	19.20	17.46	16.16	16.47
People
People	Employees	—	—	—	167	158	390	385	430	577	548
	Revenue/emp, $m	—	—	0.00	0.74	0.73	0.60	0.67	0.76	0.65	0.70
Income, $m
Income, $m	Revenue	—	—	106	123	115	236	259	328	374	382
	Gross margin, %	—	—	60.99	65.14	71.15	63.14	52.96	54.41	53.35	45.31
	EBT	—	—	46	64	65	122	102	118	86	92
	EBT margin, %	—	—	43.96	52.31	56.49	51.62	39.58	36.02	22.98	24.17
	Net income	—	0	44	61	62	121	94	121	76	91
	Depreciation	—	—	7	8	8	9	21	27	36	46
Per share, $
Per share, $	Revenue	—	—	0.90	1.05	0.98	1.73	1.76	2.21	2.44	2.39
	Earnings	—	—	0.38	0.52	0.46	0.88	0.63	0.79	0.48	0.54
	Cash flow	—	—	0.34	0.38	0.45	0.79	0.53	1.06	0.95	1.77
	Capex	—	—	(0.01)	0.00	(0.01)	(0.01)	(0.05)	(0.10)	(0.05)	(0.18)
	Free cash flow	—	—	0.33	0.38	0.44	0.78	0.48	0.96	0.90	1.59
	Book value	—	—	0.66	0.76	0.50	4.15	3.49	3.52	3.20	3.97
	Shares, m	—	—	117	117	117	136	147	148	153	160
Valuation, ×
Valuation, ×	P/E	—	—	41.30	41.30	41.30	18.00	21.95	18.94	23.26	29.98
	P/S	—	—	24.23	24.23	24.23	9.35	7.87	6.94	4.76	6.65
	P/B	—	—	47.20	47.20	47.20	3.90	3.97	4.36	3.63	4.00
	EV/Sales	—	—	24.03	24.03	24.03	8.64	6.66	6.26	5.08	6.98
	EV/FCF	—	—	53.13	53.13	53.13	19.26	24.20	14.46	13.81	10.51
Cash, $m
Cash, $m	Operating cash flow	—	—	40	44	53	108	78	157	146	283
	Capex	—	—	(1)	0	(1)	(2)	(7)	(15)	(8)	(29)
	Free cash flow	—	—	38	44	52	106	71	142	138	253
Balance, $m
Balance, $m	Working capital	—	—	37	38	10	196	142	4	(25)	(10)
	Total debt	—	—	—	—	—	—	—	—	149	175
	Net debt	—	—	(42)	(37)	(24)	(167)	(312)	(224)	39	(48)
	Shareholders’ equity	—	—	78	89	59	564	513	521	491	633
Returns, %
Returns, %	ROA	—	—	71.04	49.23	56.03	28.20	10.70	11.91	6.83	6.70
	ROIC	—	—	81.84	78.28	116.07	19.18	29.32	25.13	12.57	12.24
	ROE	—	—	52.50	70.37	84.17	39.30	17.25	22.88	14.95	16.11

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 13 Oct 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
FSK FS KKR Capital Corp.	$3.0B	— (loss-making)	— (loss-making)	−27.14% (below 0%: shrinking)	n/m	+618.52% (above 0%: growing)	100.00%	76.90%	Compare
SII Sprott Inc.	$2.9B	26.5×	13.0×	+23.09% (above 0%: growing)	+155.77% (above 0%: growing)	+64.22% (above 0%: growing)	100.00%	56.77%	Compare
APAM Artisan Partners Asset Management Inc.	$2.7B	7.8×	10.2×	+8.90% (above 0%: growing)	+18.09% (above 0%: growing)	+126.73% (above 0%: growing)	40.90%	27.48%	Compare
GCMG GCM Grosvenor Inc.	$2.6B	16.1×	14.7×	−14.09% (below 0%: shrinking)	−46.67% (below 0%: shrinking)	−11.02% (below 0%: shrinking)	0.00%	0.00%	Compare
ASST Strive, Inc.	$2.6B	— (loss-making)	17.5×	+94.64% (above 0%: growing)	n/m	−10,264.43% (below 0%: shrinking)	100.00%	(8,780.99%)	Compare
PAX Patria Investments Limited	$1.9B	25.4×	16.5×	+34.86% (above 0%: growing)	+13.12% (above 0%: growing)	−42.40% (below 0%: shrinking)	37.82%	28.19%
TSLX Sixth Street Specialty Lending, Inc.	$1.7B	17.9×	17.1×	−14.93% (below 0%: shrinking)	−31.75% (below 0%: shrinking)	−64.62% (below 0%: shrinking)	100.00%	73.38%	Compare
TRIN Trinity Capital Inc.	$1.6B	9.2×	8.6×	+25.46% (above 0%: growing)	−22.22% (below 0%: shrinking)	−60.76% (below 0%: shrinking)	100.00%	80.88%	Compare
CSWC Capital Southwest Corporation	$1.5B	12.2×	10.5×	+9.12% (above 0%: growing)	−20.00% (below 0%: shrinking)	−366.44% (below 0%: shrinking)	100.00%	87.58%	Compare
Median of peers	$2.6B	14.2×	13.0×	+9.01%	−21.11%	−35.89%	100.00%	65.07%

All 120 Asset Management stocks →

Patria Investments Limited (PAX) key facts

Strength: Patria Investments Limited’s revenue for fiscal 2025 (year ended December 2025) was $381.7 million, up 2.01% from fiscal 2024.
Patria Investments Limited (PAX) is an Asset Management company in the Financial sector, listed on Nasdaq.
As of October 16, 2026, PAX traded at $11.70, a market capitalization of $1.9 billion.
Patria Investments Limited pays an annual dividend of $0.63 per share, a yield of 5.34%, with a payout ratio of 136.1%.
Return on equity was 16.1% and debt-to-equity 0.54.
Its Piotroski F-score is 5 out of 9 for fiscal 2025.