Patrick Industries
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
Rewards
Risk Analysis
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
| PATK | Industry | Market | |
|---|---|---|---|
| 7 Day | 8.8% | 2.2% | 0.2% |
| 30 Day | 10.8% | 1.8% | 1.5% |
| 90 Day | 25.0% | -0.7% | 3.3% |
| 1 Year | 119.9%116.3% | 105.2%104.0% | 52.4%49.9% |
| 3 Year | 70.3%65.9% | 31.4%22.6% | 63.7%53.4% |
| 5 Year | 208.9%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
5 days ago | Simply Wall St
Is There An Opportunity With Patrick Industries, Inc.'s (NASDAQ:PATK) 30% Undervaluation?4 weeks ago | Simply Wall St
Here's What's Concerning About Patrick Industries' (NASDAQ:PATK) Returns On Capital1 month ago | Simply Wall St
Patrick Industries, Inc. (NASDAQ:PATK) Is An Attractive Dividend Stock - Here's WhyValuation
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
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/05/09 22:16 |
| End of Day Share Price | 2021/05/07 00:00 |
| Earnings | 2021/03/28 |
| 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.