Patrick Industries Inc

Consumer Discretionary
Auto Parts:O.E.M.
www.patrickind.com

Earnings Score
Moat Score
Safety Score
Final Score

Market Cap $2.98B
PE 19
Debt $1.41B
Cash $52.61M
EV $4.34B
FCF $277.21M

Earnings

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Sales & Net Margins

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Earnings	$154.66M
EBIT	$275.76M
ROE	14%
ROA	9%
FCF	$277.21M
Equity	$1.13B
Growth Stability	66%
PE	19.3
PEG	0.88
PB	2.64
P/FCF	10.77
P/S	0.82
Price/Cash	0.02
Debt/Equity	1.25
Debt/FCF	5.09
Net Margins	4%
Gross Margins	23%
Op. Margins	8%
Earnings CAGR	22%
Sales Growth YoY	6%
Sales Growth QoQ	-10%
Sales CAGR	22%
FCF CAGR	22%
Equity CAGR	26%
Earnings Stability	0.58
Earnings Growth YoY	3%
Earnings Growth QoQ	-15%
Earnings CAGR 5Y	22%

Sales CAGR 5Y	16%
FCF CAGR 5Y	34%
Equity CAGR 5Y	22%
Earnings CAGR 3Y	-12%
Sales CAGR 3Y	-12%
FCF CAGR 3Y	39%
Equity CAGR 3Y	13%
Market Cap	$2.98B
Revenue	$3.65B
Dividend Yield	2%
Payout Ratio	32%
Assets	$3.12B
Total Debt	$1.41B
Cash	$52.61M
Shares Outstanding	21.69M
EV	4.34B
Earnings Score	85%
Moat Score	86%
Safety Score	77%
Final Score	83%
Working Capital	533.77M
Current Ratio	2.41
Gross Profit	$827.57M
Shares Growth 3y	-2%
Equity Growth QoQ	3%
Equity Growth YoY	10%

Assets & ROA

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Stockholders Equity & ROE

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Patrick Industries Inc makes and sells building products and materials for recreational vehicles and manufactured housing. The company is organized into two segments based on product type: manufacturing and distribution. The manufacturing segment, which generates the majority of revenue, sells laminated and vinyl products that include furniture, shelving, cabinets, bath fixtures, and countertops. The distribution segment sells prefinished wall and ceiling panels, as well as electrical and plumbing products for the RV and manufactured-housing industries. One of the firm's RV customers makes up a significant portion of revenue. Nearly all of Patrick Industries' revenue comes from North America.

SEC Filings

Direct access to Patrick Industries Inc (PATK) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 29
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Oct 01
- 10-Q Jul 02
- 10-Q Apr 02
2022
- 10-K Dec 31
- 10-Q Sep 25
- 10-Q Jun 26
- 10-Q Mar 27

Sector Comparison

How does Patrick Industries Inc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Patrick Industries Inc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 22%

Stability 58%

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Patrick Industries Inc Discounted Cash Flow

Fully customizable DCF calculator online for Patrick Industries Inc.

Years

Calculation mode

= $13B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$277M	$338M	$412M	$502M	$612M	$747M	$910M	$1.1B	$1.4B	$1.6B	$2B	$20B
DCF		$307M	$341M	$377M	$418M	$464M	$514M	$569M	$631M	$700M	$775M	$7.8B
Value	$13B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	4%	5%	5%	5%	5%	4%	4%	6%	7%	4%	4%
ROA	-	18%	17%	14%	14%	10%	10%	13%	18%	10%	9%
ROE	-	33%	30%	23%	29%	18%	17%	29%	34%	14%	14%

Bad Net Margins (4.32%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	3.73	3.53	4.78	4.05	4.31	6.62	7.3	3.94	2.99	5.09
Debt over Equity	0.98	1.67	1.56	1	1.64	1.43	1.51	1.78	1.37	1	1.25
Growth Stability	-	-	-	100%	100%	100%	99%	100%	100%	66%	66%

Bad Debt/FCF ratio (5.09)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Neutral Debt/Equity ratio (1.25)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (66%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	25%	33%	34%	38%	3%	6%	64%	20%	-29%	16%
Earnings YoY growth	-	38%	32%	54%	40%	-25%	8%	132%	46%	-56%	22%
Equity YoY growth	-	25%	44%	100%	10%	22%	12%	37%	24%	9%	22%
FCF YoY growth	-	47%	42%	-5%	114%	-0%	-22%	46%	77%	5%	34%