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PATK

Patrick IndustriesNasdaqGS:PATK Stock Report

Market Cap

US$1.9b

7D

1.3%

1Y

48.7%

Updated

25 Sep, 2021

Data

Company Financials +
PATK fundamental analysis
Snowflake Score
Valuation5/6
Future Growth1/6
Past Performance5/6
Financial Health2/6
Dividends2/6

PATK Overview

Patrick Industries, Inc. manufactures and distributes components, building products, and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States and Canada.

Patrick Industries Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Patrick Industries
Historical stock prices
Current Share PriceUS$80.86
52 Week HighUS$52.44
52 Week LowUS$98.83
Beta2.43
1 Month Change-6.26%
3 Month Change9.12%
1 Year Change48.67%
3 Year Change36.59%
5 Year Change95.88%
Change since IPO8,138.57%

Recent News & Updates

Shareholder Returns

PATKUS Auto ComponentsUS Market
7D1.3%3.9%0.1%
1Y48.7%60.8%35.3%

Return vs Industry: PATK underperformed the US Auto Components industry which returned 61.9% over the past year.

Return vs Market: PATK exceeded the US Market which returned 37.5% over the past year.

Price Volatility

Is PATK's price volatile compared to industry and market?
PATK volatility
PATK Beta2.43
Industry Beta1.89
Market Beta1

Stable Share Price: PATK is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: PATK's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19598,700Andy Nemethhttps://www.patrickind.com

Patrick Industries, Inc. manufactures and distributes components, building products, and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States and Canada. Its Manufacturing segment manufactures and sells furniture, shelving, wall, countertop, and cabinet product; cabinet door, fiberglass bath fixture, and tile system; hardwood furniture, vinyl printing, solid surface, granite, and quartz countertop fabrication aluminum product; RV painting; decorative vinyl and paper laminated panel; fiberglass and plastic component; softwoods lumber; custom cabinet; polymer-based flooring product; marine hardware; air handling; and electrical system and component, including instrument and dash panel, and other product. This segment also provides wrapped vinyl, paper, and hardwood profile moulding; interior passage door; slide-out trim and fascia product; thermoformed shower surround; specialty bath and closet building product; treated, untreated, and laminated plywood; fiberglass and plastic helm systems and component; wiring and wire harnesses; aluminum and plastic fuel tank; boat cover, tower, top, and frame; CNC molds and composite part; and slotwall panel and component.

Patrick Industries Fundamentals Summary

How do Patrick Industries's earnings and revenue compare to its market cap?
PATK fundamental statistics
Market CapUS$1.91b
Earnings (TTM)US$181.66m
Revenue (TTM)US$3.34b

10.5x

P/E Ratio

0.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PATK income statement (TTM)
RevenueUS$3.34b
Cost of RevenueUS$2.70b
Gross ProfitUS$641.82m
ExpensesUS$460.17m
EarningsUS$181.66m

Last Reported Earnings

Jun 27, 2021

Next Earnings Date

n/a

Earnings per share (EPS)7.67
Gross Margin19.19%
Net Profit Margin5.43%
Debt/Equity Ratio169.2%

How did PATK perform over the long term?

See historical performance and comparison

Dividends

1.4%

Current Dividend Yield

14%

Payout Ratio

Valuation

Is Patrick Industries undervalued compared to its fair value and its price relative to the market?

43.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PATK ($80.86) is trading below our estimate of fair value ($142.65)

Significantly Below Fair Value: PATK is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: PATK is good value based on its PE Ratio (10.5x) compared to the US Auto Components industry average (18x).

PE vs Market: PATK is good value based on its PE Ratio (10.5x) compared to the US market (17.9x).


Price to Earnings Growth Ratio

PEG Ratio: PATK is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: PATK is overvalued based on its PB Ratio (3x) compared to the US Auto Components industry average (2.4x).


Future Growth

How is Patrick Industries forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

12.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PATK's forecast earnings growth (12.1% per year) is above the savings rate (2%).

Earnings vs Market: PATK's earnings (12.1% per year) are forecast to grow slower than the US market (14.9% per year).

High Growth Earnings: PATK's earnings are forecast to grow, but not significantly.

Revenue vs Market: PATK's revenue (8.6% per year) is forecast to grow slower than the US market (9.8% per year).

High Growth Revenue: PATK's revenue (8.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if PATK's Return on Equity is forecast to be high in 3 years time


Past Performance

How has Patrick Industries performed over the past 5 years?

14.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PATK has high quality earnings.

Growing Profit Margin: PATK's current net profit margins (5.4%) are higher than last year (3%).


Past Earnings Growth Analysis

Earnings Trend: PATK's earnings have grown by 14% per year over the past 5 years.

Accelerating Growth: PATK's earnings growth over the past year (186.1%) exceeds its 5-year average (14% per year).

Earnings vs Industry: PATK earnings growth over the past year (186.1%) exceeded the Auto Components industry 133.9%.


Return on Equity

High ROE: Whilst PATK's Return on Equity (28.24%) is high, this metric is skewed due to their high level of debt.


Financial Health

How is Patrick Industries's financial position?


Financial Position Analysis

Short Term Liabilities: PATK's short term assets ($763.6M) exceed its short term liabilities ($328.8M).

Long Term Liabilities: PATK's short term assets ($763.6M) do not cover its long term liabilities ($1.3B).


Debt to Equity History and Analysis

Debt Level: PATK's debt to equity ratio (169.2%) is considered high.

Reducing Debt: PATK's debt to equity ratio has increased from 166.2% to 169.2% over the past 5 years.

Debt Coverage: PATK's debt is not well covered by operating cash flow (18.3%).

Interest Coverage: PATK's interest payments on its debt are well covered by EBIT (6x coverage).


Balance Sheet


Dividend

What is Patrick Industries's current dividend yield, its reliability and sustainability?

1.39%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PATK's dividend (1.39%) is higher than the bottom 25% of dividend payers in the US market (1.34%).

High Dividend: PATK's dividend (1.39%) is low compared to the top 25% of dividend payers in the US market (3.59%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, PATK has been paying a dividend for less than 10 years.

Growing Dividend: PATK's dividend payments have increased, but the company has only paid a dividend for 2 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (13.6%), PATK's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.1yrs

Average management tenure


CEO

Andy Nemeth (52 yo)

1.67yrs

Tenure

US$7,469,365

Compensation

Mr. Andy L. Nemeth has been the Chief Executive Officer of Patrick Industries Inc. since January 1, 2020 and served as its President since January 1, 2016 until July 2021. Mr. Nemeth has years of RV, MH, m...


CEO Compensation Analysis

Compensation vs Market: Andy's total compensation ($USD7.47M) is above average for companies of similar size in the US market ($USD3.67M).

Compensation vs Earnings: Andy's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: PATK's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.


Board Members

Experienced Board: PATK's board of directors are considered experienced (3.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: PATK insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Patrick Industries, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Patrick Industries, Inc.
  • Ticker: PATK
  • Exchange: NasdaqGS
  • Founded: 1959
  • Industry: Auto Parts and Equipment
  • Sector: Automobiles
  • Market Cap: US$1.914b
  • Shares outstanding: 23.67m
  • Website: https://www.patrickind.com

Number of Employees


Location

  • Patrick Industries, Inc.
  • 107 West Franklin Street
  • PO Box 638
  • Elkhart
  • Indiana
  • 46515
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/25 02:13
End of Day Share Price2021/09/24 00:00
Earnings2021/06/27
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.