| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 1/6 |
| Past Performance | 5/6 |
| Financial Health | 2/6 |
| Dividends | 2/6 |
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
| Historical stock prices | |
|---|---|
| Current Share Price | US$80.86 |
| 52 Week High | US$52.44 |
| 52 Week Low | US$98.83 |
| Beta | 2.43 |
| 1 Month Change | -6.26% |
| 3 Month Change | 9.12% |
| 1 Year Change | 48.67% |
| 3 Year Change | 36.59% |
| 5 Year Change | 95.88% |
| Change since IPO | 8,138.57% |
Recent News & Updates
Shareholder Returns
| PATK | US Auto Components | US Market | |
|---|---|---|---|
| 7D | 1.3% | 3.9% | 0.1% |
| 1Y | 48.7% | 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
| PATK volatility | |
|---|---|
| PATK Beta | 2.43 |
| Industry Beta | 1.89 |
| Market Beta | 1 |
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
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1959 | 8,700 | Andy Nemeth | https://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
| PATK fundamental statistics | |
|---|---|
| Market Cap | US$1.91b |
| Earnings (TTM) | US$181.66m |
| Revenue (TTM) | US$3.34b |
10.5x
P/E Ratio0.6x
P/S RatioIs PATK overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| PATK income statement (TTM) | |
|---|---|
| Revenue | US$3.34b |
| Cost of Revenue | US$2.70b |
| Gross Profit | US$641.82m |
| Expenses | US$460.17m |
| Earnings | US$181.66m |
Last Reported Earnings
Jun 27, 2021
Next Earnings Date
n/a
| Earnings per share (EPS) | 7.67 |
| Gross Margin | 19.19% |
| Net Profit Margin | 5.43% |
| Debt/Equity Ratio | 169.2% |
How did PATK perform over the long term?
See historical performance and comparisonDividends
1.4%
Current Dividend Yield14%
Payout RatioValuation
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
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/09/25 02:13 |
| End of Day Share Price | 2021/09/24 00:00 |
| Earnings | 2021/06/27 |
| Annual Earnings | 2020/12/31 |
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.