NASDAQ : PATK
Patrick Industries, Inc. — Financial statements
Consumer Discretionary · Recreational Vehicles · United States
Last price 77.68 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.49B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Patrick Industries, Inc. (PATK) reported revenue of 3.94B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 3.94B | 3.95B | 3.72B | 3.47B | 4.88B | 4.08B |
| Cost of Revenue | 3.02B | 3.04B | 2.88B | 2.69B | 3.82B | 3.28B |
| Gross Profit | 917.00M | 912.86M | 835.89M | 782.23M | 1.06B | 801.19M |
| Selling, General & Admin | 572.99M | 539.56M | 481.57M | 443.34M | 490.54M | 393.15M |
| Amortization of Goodwill & Intangibles | 95.02M | 97.31M | 96.28M | 78.69M | 73.23M | 56.33M |
| Operating Expenses | 668.00M | 636.87M | 577.85M | 522.03M | 563.77M | 449.48M |
| Operating Income | 249.00M | 275.99M | 258.04M | 260.20M | 496.17M | 351.71M |
| Interest Expense | -74.27M | -74.51M | -79.47M | -68.94M | -60.76M | -57.89M |
| EBT Excluding Unusual Items | 174.73M | 201.48M | 178.57M | 191.26M | 435.41M | 293.82M |
| Legal Settlements | -24.42M | |||||
| Pretax Income | 174.73M | 177.06M | 178.57M | 191.26M | 435.41M | 293.82M |
| Income Tax Expense | 41.69M | 42.01M | 40.17M | 48.36M | 107.21M | 68.91M |
| Net Income | 133.04M | 135.06M | 138.40M | 142.90M | 328.20M | 224.91M |
| Net Income to Common | 133.04M | 135.06M | 138.40M | 142.90M | 328.20M | 224.91M |
| Shares Outstanding (Basic) | 32.06M | 32.49M | 32.57M | 32.28M | 33.21M | 34.17M |
| Shares Outstanding (Diluted) | 34.46M | 34.64M | 33.70M | 33.04M | 36.71M | 35.03M |
| EPS (Basic) | 4.15 | 4.16 | 4.25 | 4.43 | 9.88 | 6.58 |
| EPS (Diluted) | 3.86 | 3.90 | 4.11 | 4.33 | 8.99 | 6.42 |
| Free Cash Flow | 203.37M | 246.49M | 251.16M | 349.69M | 331.86M | 187.33M |
| Free Cash Flow Per Share | 5.90 | 7.12 | 7.45 | 10.58 | 9.04 | 5.35 |
| Dividend Per Share | 0.47 | 1.67 | 1.50 | 1.27 | 0.96 | 0.78 |
| Gross Margin | 23.28% | 23.11% | 22.50% | 22.55% | 21.71% | 19.65% |
| Operating Margin | 6.32% | 6.99% | 6.94% | 7.50% | 10.16% | 8.62% |
| Profit Margin | 3.38% | 3.42% | 3.72% | 4.12% | 6.72% | 5.51% |
| Free Cash Flow Margin | 5.16% | 6.24% | 6.76% | 10.08% | 6.80% | 4.59% |
| EBITDA | 420.37M | 446.20M | 424.58M | 404.74M | 626.93M | 456.52M |
| EBITDA Margin | 10.67% | 11.29% | 11.43% | 11.67% | 12.84% | 11.19% |
| D&A For EBITDA | 171.38M | 170.21M | 166.54M | 144.54M | 130.76M | 104.81M |
| EBIT | 249.00M | 275.99M | 258.04M | 260.20M | 496.17M | 351.71M |
| EBIT Margin | 6.32% | 6.99% | 6.94% | 7.50% | 10.16% | 8.62% |
| Effective Tax Rate | 23.86% | 23.72% | 22.50% | 25.29% | 24.62% | 23.45% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 16.04M | 26.43M | 33.56M | 11.41M | 22.85M | 122.85M |
| Cash & Short-Term Investments | 16.04M | 26.43M | 33.56M | 11.41M | 22.85M | 122.85M |
| Accounts Receivable | 286.18M | 168.90M | 145.44M | 132.79M | 142.10M | 156.08M |
| Other Receivables | 27.33M | 42.65M | 40.35M | 43.15M | 25.01M | |
| Receivables | 286.18M | 196.22M | 188.08M | 173.14M | 185.26M | 181.09M |
| Inventory | 668.96M | 595.26M | 551.62M | 510.13M | 667.84M | 614.36M |
| Prepaid Expenses | 48.07M | 25.93M | 31.54M | 22.87M | 22.31M | 20.38M |
| Other Current Assets | 29.27M | 17.81M | 17.08M | 11.65M | 35.40M | |
| Total Current Assets | 1.02B | 873.12M | 822.62M | 734.63M | 909.90M | 974.08M |
| Property, Plant & Equipment | 639.07M | 607.59M | 585.60M | 531.34M | 514.25M | 477.68M |
| Goodwill | 840.10M | 797.24M | 637.39M | 629.26M | 551.38M | |
| Other Intangible Assets | 1.53B | 742.56M | 802.89M | 651.15M | 720.23M | 640.46M |
| Other Long-Term Assets | 11.63M | 12.80M | 12.61M | 7.93M | 8.83M | 7.15M |
| Total Assets | 3.20B | 3.08B | 3.02B | 2.56B | 2.78B | 2.65B |
| Accounts Payable | 214.90M | 192.45M | 187.91M | 140.52M | 142.91M | 203.54M |
| Accrued Expenses | 125.68M | 86.84M | 93.61M | 103.21M | 131.57M | 174.40M |
| Current Portion of Long-Term Debt | 6.25M | 6.25M | 6.25M | 7.50M | 7.50M | 7.50M |
| Current Portion of Leases | 58.58M | 55.38M | 53.70M | 48.76M | 44.23M | 40.30M |
| Current Income Taxes Payable | 18.00K | 6.30M | 2.37M | 28.93M | ||
| Other Current Liabilities | 7.56M | 5.84M | 6.13M | 12.10M | 7.04M | |
| Total Current Liabilities | 405.42M | 348.49M | 353.62M | 308.50M | 367.24M | 432.78M |
| Long-Term Debt | 1.37B | 1.28B | 1.31B | 1.02B | 1.28B | 1.28B |
| Long-Term Leases | 173.62M | 150.51M | 151.03M | 132.44M | 122.47M | 120.16M |
| Long-Term Deferred Tax Liabilities | 90.69M | 96.88M | 61.35M | 46.72M | 48.39M | 36.45M |
| Other Long-Term Liabilities | 14.78M | 13.18M | 14.92M | 11.09M | 13.05M | 13.78M |
| Total Liabilities | 2.06B | 1.89B | 1.89B | 1.52B | 1.83B | 1.88B |
| Common Stock | 1.14B | 208.21M | 202.35M | 203.26M | 197.00M | 196.38M |
| Additional Paid-In Capital | 59.67M | |||||
| Retained Earnings | 976.96M | 926.94M | 843.08M | 758.86M | 513.73M | |
| Comprehensive Income & Other | -876.00K | -926.00K | -999.00K | -695.00K | -2.23M | |
| Shareholders' Equity | 1.14B | 1.18B | 1.13B | 1.05B | 955.17M | 767.56M |
| Total Liabilities & Equity | 3.20B | 3.08B | 3.02B | 2.56B | 2.78B | 2.65B |
| Total Debt | 1.61B | 1.49B | 1.52B | 1.21B | 1.45B | 1.45B |
| Net Cash (Debt) | -1.59B | -1.47B | -1.49B | -1.20B | -1.43B | -1.33B |
| Net Cash Per Share | -46.28 | -42.40 | -44.19 | -36.19 | -38.89 | -37.83 |
| Filing Date Shares Outstanding | 31.48M | 33.23M | 33.64M | 33.57M | 33.63M | 35.03M |
| Total Common Shares Outstanding | 31.48M | 33.22M | 33.57M | 33.24M | 33.32M | 35.18M |
| Working Capital | 613.83M | 524.63M | 469.00M | 426.13M | 542.66M | 541.30M |
| Book Value Per Share | 36.30 | 35.65 | 33.62 | 31.45 | 28.67 | 21.82 |
| Tangible Book Value | -387.12M | -398.37M | -471.76M | -243.21M | -394.32M | -424.28M |
| Tangible Book Value Per Share | -12.30 | -11.99 | -14.05 | -7.32 | -11.83 | -12.06 |
| Land | 25.90M | 26.51M | 19.50M | 19.24M | 17.45M | |
| Buildings | 85.71M | 85.63M | 85.94M | 82.28M | 83.51M | |
| Machinery | 630.86M | 570.58M | 492.59M | 454.75M | 382.49M | |
| Leasehold Improvements | 44.81M | 41.38M | 33.74M | 29.25M | 21.59M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 133.04M | 135.06M | 138.40M | 142.90M | 328.20M | 224.91M |
| Depreciation & Amortization | 171.38M | 170.21M | 166.54M | 144.54M | 130.76M | 104.81M |
| Other Amortization | 3.27M | 3.27M | 3.27M | 3.24M | 3.89M | 7.99M |
| Loss (Gain) From Sale of Assets | 2.14M | 2.14M | -237.00K | 585.00K | -5.56M | 583.00K |
| Stock-Based Compensation | 21.75M | 19.07M | 16.77M | 19.43M | 21.75M | 22.89M |
| Other Operating Activities | 5.94M | 32.56M | -3.56M | -916.00K | -6.61M | 1.03M |
| Change in Accounts Receivable | 1.81M | 1.81M | 10.85M | 8.92M | 26.06M | -14.35M |
| Change in Inventory | -24.96M | -24.96M | -1.86M | 162.18M | -11.90M | -232.47M |
| Change in Accounts Payable | -976.00K | -976.00K | 4.27M | -68.28M | -94.98M | 149.85M |
| Change in Other Net Operating Assets | -36.00M | -8.76M | -7.61M | -3.93M | 20.12M | -13.11M |
| Operating Cash Flow | 277.39M | 329.41M | 326.84M | 408.67M | 411.74M | 252.13M |
| Capital Expenditures | -74.02M | -82.92M | -75.68M | -58.99M | -79.88M | -64.80M |
| Sale of Property, Plant & Equipment | 2.75M | 2.75M | 2.41M | 1.36M | 7.62M | 197.00K |
| Cash Acquisitions | -73.14M | -121.74M | -411.75M | -25.86M | -248.90M | -508.13M |
| Sale (Purchase) of Intangibles | -4.58M | -4.58M | -27.83M | -3.06M | -305.00K | -2.00M |
| Investing Cash Flow | -148.98M | -206.49M | -512.85M | -86.55M | -321.47M | -574.73M |
| Long-Term Debt Issued | 744.43M | 1.95B | 488.44M | 839.44M | 1.50B | |
| Long-Term Debt Repaid | -775.68M | -1.65B | -748.73M | -901.65M | -979.38M | |
| Net Debt Issued (Repaid) | -31.25M | -31.25M | 294.06M | -260.29M | -62.21M | 520.62M |
| Issuance of Common Stock | 21.00K | 1.41M | 195.00K | 4.95M | ||
| Repurchase of Common Stock | -42.90M | -42.90M | -22.00M | -30.94M | -87.34M | -66.75M |
| Common Dividends Paid | -55.27M | -55.27M | -50.19M | -42.14M | -32.87M | -27.02M |
| Other Financing Activities | -3.64M | -632.00K | -13.74M | -1.61M | -8.04M | -31.11M |
| Financing Cash Flow | -133.07M | -130.06M | 208.16M | -333.56M | -190.27M | 400.69M |
| Net Cash Flow | -4.66M | -7.13M | 22.15M | -11.44M | -100.00M | 78.08M |
| Free Cash Flow | 203.37M | 246.49M | 251.16M | 349.69M | 331.86M | 187.33M |
| Free Cash Flow Margin | 5.16% | 6.24% | 6.76% | 10.08% | 6.80% | 4.59% |
| Free Cash Flow Per Share | 5.90 | 7.12 | 7.45 | 10.58 | 9.04 | 5.35 |
| Levered Free Cash Flow | 148.89M | 166.53M | 170.28M | 325.26M | 243.04M | 80.57M |
| Unlevered Free Cash Flow | 192.04M | 209.83M | 216.68M | 365.11M | 277.12M | 108.77M |
| Cash Interest Paid | 71.40M | 71.40M | 75.90M | 66.30M | 56.90M | 45.00M |
| Cash Income Tax Paid | 23.64M | 23.64M | 38.10M | 84.30M | 117.10M | 46.20M |
| Change in Working Capital | -60.12M | -32.89M | 5.64M | 98.89M | -60.69M | -110.08M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.58B | 3.61B | 2.79B | 2.22B | 1.37B | 1.91B |
| Enterprise Value | 4.17B | 5.12B | 4.34B | 3.49B | 2.83B | 3.10B |
| Last Close Price | 77.68 | 106.89 | 80.55 | 63.68 | 37.54 | 48.81 |
| PE Ratio | 20.81 | 26.72 | 20.17 | 15.54 | 4.18 | 8.49 |
| Forward PE | 16.67 | 21.33 | 17.53 | 13.09 | 7.23 | 8.19 |
| PS Ratio | 0.63 | 0.91 | 0.75 | 0.64 | 0.28 | 0.47 |
| PB Ratio | 2.14 | 3.05 | 2.47 | 2.12 | 1.44 | 2.49 |
| P/FCF Ratio | 12.27 | 14.64 | 11.11 | 6.35 | 4.14 | 10.19 |
| P/OCF Ratio | 8.99 | 10.95 | 8.54 | 5.43 | 3.34 | 7.57 |
| PEG Ratio | 1.34 | 1.31 | 1.28 | 50.74 | 2.39 | 0.55 |
| EV/Sales Ratio | 1.04 | 1.30 | 1.17 | 1.01 | 0.58 | 0.76 |
| EV/EBITDA Ratio | 9.73 | 11.47 | 10.21 | 8.62 | 4.51 | 6.78 |
| EV/EBIT Ratio | 16.43 | 18.55 | 16.81 | 13.41 | 5.70 | 8.80 |
| EV/FCF Ratio | 20.11 | 20.77 | 17.27 | 9.98 | 8.52 | 16.53 |
| Debt / Equity Ratio | 1.41 | 1.26 | 1.35 | 1.16 | 1.52 | 1.89 |
| Debt / EBITDA Ratio | 3.25 | 2.89 | 3.11 | 2.62 | 2.14 | 2.90 |
| Debt / FCF Ratio | 7.92 | 6.07 | 6.06 | 3.45 | 4.37 | 7.73 |
| Net Debt / Equity Ratio | 1.40 | 1.24 | 1.32 | 1.14 | 1.50 | 1.73 |
| Net Debt / EBITDA Ratio | 3.79 | 3.29 | 3.51 | 2.95 | 2.28 | 2.90 |
| Net Debt / FCF Ratio | 7.84 | 5.96 | 5.93 | 3.42 | 4.30 | 7.07 |
| Asset Turnover | 1.24 | 1.30 | 1.33 | 1.30 | 1.80 | 1.85 |
| Inventory Turnover | 4.76 | 5.30 | 5.42 | 4.56 | 5.96 | 7.07 |
| Quick Ratio | 0.74 | 0.64 | 0.63 | 0.60 | 0.57 | 0.70 |
| Current Ratio | 2.51 | 2.50 | 2.33 | 2.38 | 2.48 | 2.25 |
| Return on Equity (ROE) | 11.51% | 11.68% | 12.73% | 14.29% | 38.10% | 33.90% |
| Return on Assets (ROA) | 4.90% | 5.66% | 5.78% | 6.08% | 11.42% | 9.98% |
| Return on Invested Capital (ROIC) | 6.90% | 7.99% | 8.23% | 8.41% | 16.71% | 15.16% |
| Return on Capital Employed (ROCE) | 8.90% | 10.10% | 9.70% | 11.50% | 20.50% | 15.90% |
| Earnings Yield | 4.81% | 3.74% | 4.96% | 6.43% | 23.90% | 11.78% |
| FCF Yield | 8.15% | 6.83% | 9.00% | 15.74% | 24.16% | 9.81% |
| Dividend Yield | 2.34% | 1.54% | 1.80% | 1.90% | 2.33% | 1.44% |
| Payout Ratio | 48.71% | 40.93% | 36.26% | 29.49% | 10.02% | 12.02% |
| Buyback Yield / Dilution | -0.04% | -2.78% | -2.00% | 9.99% | -4.78% | -1.16% |
| Total Shareholder Return | 2.38% | -1.24% | -0.20% | 11.89% | -2.45% | 0.28% |