Latest Ratios: P/E Ratio 22.5x · EV/EBITDA 10.2x · ROE 11.7%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.9B | $3.8B | $2.8B | $1.5B | $982M | $1.3B | $1.1B | $814M | $480M | $1.1B | $776M |
| Enterprise Value | $4.5B | $5.4B | $4.3B | $2.7B | $2.4B | $2.6B | $1.9B | $1.4B | $1.1B | $1.5B | $1.0B |
| P/E Ratio → | 22.49 | 27.80 | 20.21 | 10.29 | 2.99 | 5.59 | 10.85 | 9.08 | 4.00 | 13.30 | 13.95 |
| P/S Ratio | 0.74 | 0.95 | 0.75 | 0.42 | 0.20 | 0.31 | 0.42 | 0.35 | 0.21 | 0.70 | 0.64 |
| P/B Ratio | 2.57 | 3.17 | 2.48 | 1.41 | 1.03 | 1.64 | 1.88 | 1.64 | 1.17 | 3.08 | 4.19 |
| P/FCF | 11.83 | 15.24 | 11.15 | 4.21 | 2.96 | 6.71 | 8.22 | 4.94 | 2.90 | 14.74 | 9.50 |
| P/OCF | 8.85 | 11.40 | 8.57 | 3.61 | 2.38 | 4.98 | 6.57 | 4.23 | 2.40 | 11.42 | 7.99 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.36 | 1.15 | 0.77 | 0.49 | 0.63 | 0.78 | 0.62 | 0.49 | 0.91 | 0.85 |
| EV / EBITDA | 10.15 | 12.04 | 10.10 | 6.59 | 3.84 | 5.65 | 7.89 | 6.67 | 4.73 | 9.60 | 9.05 |
| EV / EBIT | 16.42 | 21.35 | 16.62 | 10.26 | 4.86 | 7.34 | 11.22 | 9.39 | 6.19 | 12.24 | 11.48 |
| EV / FCF | — | 21.79 | 17.08 | 7.63 | 7.27 | 13.77 | 15.19 | 8.80 | 6.67 | 19.28 | 12.75 |
Margins and return-on-capital ratios measuring operating efficiency
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 23.1% | 23.1% | 22.5% | 22.6% | 21.7% | 19.6% | 18.5% | 18.1% | 18.4% | 17.1% | 16.6% |
| Operating Margin | 7.0% | 7.0% | 6.9% | 7.5% | 10.2% | 8.6% | 7.0% | 6.6% | 7.9% | 7.5% | 7.4% |
| Net Profit Margin | 3.4% | 3.4% | 3.7% | 4.1% | 6.7% | 5.5% | 3.9% | 3.8% | 5.3% | 5.2% | 4.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.7% | 11.7% | 12.7% | 14.3% | 38.1% | 33.9% | 18.4% | 19.8% | 30.7% | 30.8% | 35.4% |
| ROA | 4.4% | 4.4% | 4.9% | 5.2% | 12.1% | 10.2% | 6.0% | 6.6% | 11.4% | 12.2% | 12.1% |
| ROIC | 7.6% | 7.6% | 8.0% | 8.4% | 16.6% | 14.9% | 10.1% | 10.7% | 15.3% | 15.6% | 17.4% |
| ROCE | 10.2% | 10.2% | 10.3% | 10.9% | 21.4% | 18.8% | 12.3% | 13.1% | 19.8% | 20.7% | 23.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.39 | 1.39 | 1.35 | 1.15 | 1.52 | 1.89 | 1.68 | 1.56 | 1.54 | 0.95 | 1.47 |
| Debt / EBITDA | 3.68 | 3.68 | 3.59 | 2.98 | 2.31 | 3.17 | 3.80 | 3.57 | 2.70 | 2.28 | 2.37 |
| Net Debt / Equity | — | 1.36 | 1.32 | 1.14 | 1.49 | 1.73 | 1.60 | 1.28 | 1.53 | 0.95 | 1.44 |
| Net Debt / EBITDA | 3.62 | 3.62 | 3.51 | 2.95 | 2.28 | 2.90 | 3.62 | 2.93 | 2.67 | 2.26 | 2.31 |
| Debt / FCF | — | 6.55 | 5.93 | 3.42 | 4.31 | 7.07 | 6.97 | 3.86 | 3.77 | 4.54 | 3.26 |
| Interest Coverage | 3.38 | 3.38 | 3.25 | 3.77 | 8.17 | 6.08 | 4.03 | 4.22 | 6.75 | 13.87 | 12.64 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.51 | 2.51 | 2.33 | 2.38 | 2.48 | 2.25 | 2.32 | 2.76 | 2.44 | 2.01 | 2.01 |
| Quick Ratio | 0.80 | 0.80 | 0.77 | 0.73 | 0.66 | 0.83 | 0.95 | 1.41 | 0.71 | 0.72 | 0.61 |
| Cash Ratio | 0.08 | 0.08 | 0.09 | 0.04 | 0.06 | 0.28 | 0.20 | 0.75 | 0.04 | 0.02 | 0.07 |
| Asset Turnover | — | 1.28 | 1.23 | 1.30 | 1.75 | 1.54 | 1.42 | 1.59 | 1.84 | 1.89 | 2.28 |
| Inventory Turnover | 5.10 | 5.10 | 5.22 | 5.26 | 5.72 | 5.33 | 6.48 | 7.54 | 6.77 | 7.74 | 8.49 |
| Days Sales Outstanding | — | 17.13 | 18.48 | 18.22 | 13.85 | 16.21 | 20.41 | 13.67 | 14.94 | 17.36 | 11.49 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.8% | 1.5% | 1.8% | 2.9% | 3.3% | 2.2% | 2.2% | 0.7% | — | — | — |
| Payout Ratio | 40.9% | 40.9% | 36.3% | 29.5% | 10.0% | 12.0% | 24.3% | 6.5% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.4% | 3.6% | 4.9% | 9.7% | 33.4% | 17.9% | 9.2% | 11.0% | 25.0% | 7.5% | 7.2% |
| FCF Yield | 8.5% | 6.6% | 9.0% | 23.7% | 33.8% | 14.9% | 12.2% | 20.2% | 34.5% | 6.8% | 10.5% |
| Buyback Yield | 1.1% | 0.9% | 0.2% | 1.3% | 7.9% | 3.9% | 2.2% | 0.5% | 22.4% | 0.0% | 0.7% |
| Total Shareholder Yield | 2.9% | 2.3% | 2.0% | 4.1% | 11.2% | 6.0% | 4.4% | 1.2% | 22.4% | 0.0% | 0.7% |
| Shares Outstanding | — | $35M | $34M | $22M | $24M | $23M | $23M | $23M | $24M | $25M | $23M |
Cyclical OEM Demand Sensitivity
Based on current market data, PATK trades at a TTM P/E of 24.44, which appears elevated relative to its historical averages and peer benchmarks like LCI Industries, suggesting that investors are pricing in a significant recovery in OEM production volumes that has yet to materialize.
The forward P/E of 19.61 implies an expectation of earnings expansion that may be overly optimistic given the current volatility in the RV and marine end-markets. Investors should monitor whether this valuation premium is supported by genuine content-per-unit growth or if it reflects a mispricing of the company's cyclical sensitivity.
According to recent financial statements, ROIC has trended downward to 2.3% in 2026Q1, reflecting a persistent decay in the company's ability to generate returns on its invested capital as the manufacturing segment struggles to maintain margins amidst fluctuating demand and high integration costs from past acquisitions.
The decline in ROIC suggests that the company's roll-up strategy is currently failing to create incremental value, as the returns on new capital deployments are not keeping pace with the cost of capital. This trend warrants further investigation into whether the decentralized manufacturing footprint is becoming a drag on overall capital efficiency.
As reported in quarterly filings, the cash conversion cycle has fluctuated significantly, reaching 66 days in 2026Q1, which highlights the company's ongoing struggle to manage inventory levels effectively in response to the highly unpredictable production schedules of its primary recreational vehicle and marine OEM customers.
The variability in the CCC suggests that Patrick Industries lacks sufficient leverage over its supply chain to mitigate the impact of OEM production shifts. This inefficiency forces the company to carry higher inventory levels, which ties up capital and increases the risk of obsolescence during cyclical downturns.
Investors frequently rely on P/E multiples to gauge PATK's value, yet this metric obscures the significant impact of non-cash acquisition-related amortization and working capital swings that, according to recent SEC filings, often lead to a disconnect between reported net income and actual free cash flow generation.
A more appropriate metric for this business model would be EV/EBITDA or P/FCF, which better account for the capital-intensive nature of the company's manufacturing operations and its aggressive M&A strategy. Relying on P/E risks ignoring the underlying cash flow volatility that is inherent to the company's cyclical component supply business.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying PATK stock.
Patrick Industries, Inc.'s current P/E ratio is 22.5x. The historical average is 12.2x. This places it at the 87th percentile of its historical range.
Patrick Industries, Inc.'s current EV/EBITDA is 10.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.8x.
Patrick Industries, Inc.'s return on equity (ROE) is 11.7%. The historical average is 10.4%.
Based on historical data, Patrick Industries, Inc. is trading at a P/E of 22.5x. This is at the 87th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Patrick Industries, Inc.'s current dividend yield is 1.82% with a payout ratio of 40.9%.
Patrick Industries, Inc. has 23.1% gross margin and 7.0% operating margin.
Patrick Industries, Inc.'s Debt/EBITDA ratio is 3.7x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.