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Market Cap

US$2.3b

Last Updated

2021/05/09 22:16 UTC

Data Sources

Company Financials +

Executive Summary

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. More Details


Snowflake Analysis

Good value with proven track record.


Similar Companies

Share Price & News

How has Patrick Industries's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PATK is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: PATK's weekly volatility (6%) has been stable over the past year.


Market Performance


7 Day Return

8.8%

PATK

2.2%

US Auto Components

0.2%

US Market


1 Year Return

116.3%

PATK

104.0%

US Auto Components

49.9%

US Market

Return vs Industry: PATK exceeded the US Auto Components industry which returned 104% over the past year.

Return vs Market: PATK exceeded the US Market which returned 49.9% over the past year.


Shareholder returns

PATKIndustryMarket
7 Day8.8%2.2%0.2%
30 Day10.8%1.8%1.5%
90 Day25.0%-0.7%3.3%
1 Year119.9%116.3%105.2%104.0%52.4%49.9%
3 Year70.3%65.9%31.4%22.6%63.7%53.4%
5 Year208.9%200.9%94.8%67.6%130.6%104.9%

Long-Term Price Volatility Vs. Market

How volatile is Patrick Industries's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

27.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PATK ($97.52) is trading below our estimate of fair value ($135.18)

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 (17.9x) compared to the US Auto Components industry average (29.7x).

PE vs Market: PATK is good value based on its PE Ratio (17.9x) compared to the US market (20.2x).


Price to Earnings Growth Ratio

PEG Ratio: PATK is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: PATK is overvalued based on its PB Ratio (3.7x) compared to the US Auto Components industry average (2.5x).


Future Growth

How is Patrick Industries forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

16.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PATK's forecast earnings growth (16.2% per year) is above the savings rate (2%).

Earnings vs Market: PATK's earnings (16.2% per year) are forecast to grow faster than the US market (15.1% per year).

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

Revenue vs Market: PATK's revenue (9.3% per year) is forecast to grow faster than the US market (9.1% per year).

High Growth Revenue: PATK's revenue (9.3% 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?

11.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PATK has high quality earnings.

Growing Profit Margin: PATK's current net profit margins (4.5%) are higher than last year (3.9%).


Past Earnings Growth Analysis

Earnings Trend: PATK's earnings have grown by 11.8% per year over the past 5 years.

Accelerating Growth: PATK's earnings growth over the past year (37.2%) exceeds its 5-year average (11.8% per year).

Earnings vs Industry: PATK earnings growth over the past year (37.2%) underperformed the Auto Components industry 39.5%.


Return on Equity

High ROE: Whilst PATK's Return on Equity (20.73%) 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 ($591.8M) exceed its short term liabilities ($299.8M).

Long Term Liabilities: PATK's short term assets ($591.8M) do not cover its long term liabilities ($939.8M).


Debt to Equity History and Analysis

Debt Level: PATK's debt to equity ratio (133.3%) is considered high.

Reducing Debt: PATK's debt to equity ratio has reduced from 173% to 133.3% over the past 5 years.

Debt Coverage: PATK's debt is well covered by operating cash flow (24.9%).

Interest Coverage: PATK's interest payments on its debt are well covered by EBIT (4.6x coverage).


Balance Sheet


Dividend

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

1.15%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PATK's dividend (1.15%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.24%).

High Dividend: PATK's dividend (1.15%) is low compared to the top 25% of dividend payers in the US market (3.4%).


Stability and Growth of Payments

Stable Dividend: Too early to tell whether PATK's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if PATK's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (19.5%), PATK's dividend payments are well 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?

1.3yrs

Average management tenure


CEO

Andy Nemeth (51 yo)

1.33yrs

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 its President since January 1, 2016. Mr. Nemeth has years of RV, MH, marine and industrial exper...


CEO Compensation Analysis

Compensation vs Market: Andy's total compensation ($USD7.47M) is above average for companies of similar size in the US market ($USD3.74M).

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 ( 1.3 years average tenure), which suggests a new team.


Board Members

Experienced Board: PATK's board of directors are considered experienced (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 company bio, 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$2.318b
  • Shares outstanding: 23.77m
  • 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


Biography

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 an...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/05/09 22:16
End of Day Share Price2021/05/07 00:00
Earnings2021/03/28
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.