Patrick Industries
Market Cap
US$1.2b
Last Updated
2019/12/09 23:40 UTC
Data Sources
Company Financials +
Executive Summary
Patrick Industries, Inc. manufactures and distributes building products and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States and Canada.
Rewards
Risk Analysis
Snowflake Analysis
Undervalued with mediocre balance sheet.
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's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
7.8%
PATK
1.1%
US Building
0.7%
US Market
1 Year Return
51.7%
PATK
33.6%
US Building
18.2%
US Market
Return vs Industry: PATK exceeded the US Building industry which returned 33.6% over the past year.
Return vs Market: PATK exceeded the US Market which returned 18.2% over the past year.
Shareholder returns
| PATK | Industry | Market | |
|---|---|---|---|
| 7 Day | 7.8% | 1.1% | 0.7% |
| 30 Day | 1.3% | 0.5% | 1.5% |
| 90 Day | 34.4% | 5.2% | 5.0% |
| 1 Year | 51.7%51.7% | 35.7%33.6% | 20.8%18.2% |
| 3 Year | 4.8%4.8% | 24.0%18.4% | 45.2%35.8% |
| 5 Year | 174.1%174.1% | 62.0%41.5% | 71.6%52.7% |
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
15 hours ago | Simply Wall St
Be Sure To Check Out Patrick Industries, Inc. (NASDAQ:PATK) Before It Goes Ex-Dividend2 weeks ago | Simply Wall St
Should You Worry About Patrick Industries, Inc.'s (NASDAQ:PATK) CEO Pay Cheque?4 weeks ago | Simply Wall St
Is Patrick Industries (NASDAQ:PATK) A Risky Investment?Valuation
Is Patrick Industries undervalued compared to its fair value and its price relative to the market?
28.2%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: PATK ($51.84) is trading below our estimate of fair value ($72.25)
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 (12.4x) compared to the Building industry average (21.8x).
PE vs Market: PATK is good value based on its PE Ratio (12.4x) compared to the US market (18.5x).
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 (2.6x) compared to the US Building industry average (2.5x).
Next Steps
Future Growth
How is Patrick Industries forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
13.6%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PATK's forecast earnings growth (13.6% per year) is above the savings rate (1.7%).
Earnings vs Market: PATK's earnings (13.6% per year) are forecast to grow slower than the US market (14.2% per year).
High Growth Earnings: PATK's earnings are forecast to grow, but not significantly.
Revenue vs Market: PATK's revenue (3.7% per year) is forecast to grow slower than the US market (7.4% per year).
High Growth Revenue: PATK's revenue (3.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: PATK's Return on Equity is forecast to be low in 3 years time (17.2%).
Next Steps
Past Performance
How has Patrick Industries performed over the past 5 years?
28.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PATK has high quality earnings.
Growing Profit Margin: PATK's current net profit margins (4.2%) are lower than last year (5.5%).
Past Earnings Growth Analysis
Earnings Trend: PATK's earnings have grown significantly by 28.1% per year over the past 5 years.
Accelerating Growth: PATK's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: PATK had negative earnings growth (-20.7%) over the past year, making it difficult to compare to the Building industry average (-5.5%).
Return on Equity
High ROE: Whilst PATK's Return on Equity (20.12%) is high, this metric is skewed due to their high level of debt.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Patrick Industries's financial position?
Financial Position Analysis
Short Term Liabilities: PATK's short term assets ($528.0M) exceed its short term liabilities ($202.3M).
Long Term Liabilities: PATK's short term assets ($528.0M) do not cover its long term liabilities ($768.9M).
Debt to Equity History and Analysis
Debt Level: PATK's debt to equity ratio (142.3%) is considered high.
Reducing Debt: PATK's debt to equity ratio has increased from 105.3% to 142.3% over the past 5 years.
Debt Coverage: PATK's debt is well covered by operating cash flow (28.5%).
Interest Coverage: PATK's interest payments on its debt are well covered by EBIT (4.5x coverage).
Balance Sheet
Inventory Level: PATK has a high level of physical assets or inventory.
Debt Coverage by Assets: PATK's debt is not covered by short term assets (assets are 0.8x debt).
Next Steps
Dividend
What is Patrick Industries's current dividend yield, its reliability and sustainability?
1.93%
Current Dividend Yield
Upcoming Dividend Payment
Purchase Patrick Industries before the 'Buy Limit' to receive their next dividend payment.
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: PATK's dividend (1.93%) is higher than the bottom 25% of dividend payers in the US market (1.43%).
High Dividend: PATK's dividend (1.93%) is low compared to the top 25% of dividend payers in the US market (3.7%).
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: Insufficient data to calculate payout ratio to determine if its dividend payments are 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
What is the CEO of Patrick Industries's salary, the management and board of directors tenure and is there insider trading?
3.8yrs
Average management tenure
CEO
Todd Cleveland (51yo)
10.8yrs
Tenure
US$6,859,806
Compensation
Mr. Todd M. Cleveland has been the Chairman of Patrick Industries Inc. since May 16, 2018 and has been its Chief Executive Officer since February 1, 2009. Mr. Cleveland served as the President of Patrick I ...
CEO Compensation Analysis
Compensation vs Market: Todd's total compensation ($USD6.86M) is above average for companies of similar size in the US market ($USD3.90M).
Compensation vs Earnings: Todd's compensation has been consistent with company performance over the past year.
Management Age and Tenure
3.8yrs
Average Tenure
49.5yo
Average Age
Experienced Management: PATK's management team is considered experienced (3.8 years average tenure).
Board Age and Tenure
1.6yrs
Average Tenure
53yo
Average Age
Experienced Board: PATK's board of directors are not considered experienced ( 1.6 years average tenure), which suggests a new board.
Insider Trading
Insider Buying: PATK insiders have only sold shares in the past 3 months.
Recent Insider Transactions
| Entity | Company |
| Shares | 30,000 |
| Max Price | US$52.29 |
| Entity | Individual |
| Role | Head of Human Resources Executive VP of Human Resources & Chief Human Resources Officer |
| Shares | 7,500 |
| Max Price | US$51.26 |
| Entity | Individual |
| Role | Chief Executive Officer Chairman & CEO |
| Shares | 20,000 |
| Max Price | US$51.51 |
| Entity | Individual |
| Role | Lead Director Lead Independent Director |
| Shares | 10,000 |
| Max Price | US$39.00 |
| Entity | Company |
| Shares | 45,254 |
| Max Price | US$46.70 |
| Entity | Individual |
| Shares | 10,000 |
| Max Price | US$50.60 |
| Entity | Individual |
| Shares | 1,000 |
| Max Price | US$45.34 |
| Entity | Company |
| Shares | 222,347 |
| Max Price | US$30.69 |
| Entity | Individual |
| Role | Lead Director Lead Independent Director |
| Shares | 10,000 |
| Max Price | US$30.35 |
| Entity | Individual |
| Role | Chief Executive Officer Chairman & CEO |
| Shares | 30,000 |
| Max Price | US$31.72 |
| Entity | Company |
| Shares | 121,138 |
| Max Price | US$32.81 |
| Entity | Company |
| Shares | 10,259 |
| Max Price | US$35.28 |
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Andy Nemeth (50yo)
President & Director
- Tenure: 0yrs
- Compensation: US$2.78m
Todd Cleveland (51yo)
Chairman & CEO
- Tenure: 10.8yrs
- Compensation: US$6.86m
Jeff Rodino (49yo)
Executive VP of Sales & Chief Sales Officer
- Tenure: 3.3yrs
- Compensation: US$1.80m
Courtney Blosser (53yo)
Executive VP of Human Resources & Chief Human Resources Officer
- Tenure: 3.6yrs
- Compensation: US$1.10m
Julie Kotowski
Director of Financial Reporting & Investor Relations
- Tenure: 0yrs
Josh Boone (40yo)
VP of Finance
- Tenure: 3.9yrs
- Compensation: US$1.29m
Kip Ellis (45yo)
Executive VP of Operations & COO
- Tenure: 3.3yrs
- Compensation: US$1.91m
Board Members
M. Welch (59yo)
Lead Independent Director
- Tenure: 1.6yrs
- Compensation: US$164.53k
Andy Nemeth (50yo)
President & Director
- Tenure: 0yrs
- Compensation: US$2.78m
Denis Suggs (53yo)
Independent Director
- Tenure: 0.8yrs
Todd Cleveland (51yo)
Chairman & CEO
- Tenure: 10.8yrs
- Compensation: US$6.86m
Joe Cerulli (60yo)
Independent Director
- Tenure: 11.4yrs
- Compensation: US$162.53k
John Forbes (59yo)
Independent Director
- Tenure: 8.3yrs
- Compensation: US$166.53k
Derrick Mayes (45yo)
Independent Director
- Tenure: 0.8yrs
Michael Kitson (61yo)
Independent Director
- Tenure: 6.8yrs
- Compensation: US$169.53k
Pam Klyn (48yo)
Independent Director
- Tenure: 0.8yrs
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: Building Products
- Sector: Capital Goods
- Market Cap: US$1.232b
- Shares outstanding: 23.76m
- 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
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| PATK | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | Dec 1971 |
Biography
Patrick Industries, Inc. manufactures and distributes building products and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States and Canada. Its ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/12/09 23:40 |
| End of Day Share Price | 2019/12/09 00:00 |
| Earnings | 2019/09/29 |
| Annual Earnings | 2018/12/31 |
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.