Patria Investments Limited

NasdaqGS:PAX Stock Report

Market Cap: US$1.8b

Patria Investments Valuation

Is PAX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of PAX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PAX ($11.47) is trading below our estimate of fair value ($16.51)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PAX?

Key metric: As PAX is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for PAX. This is calculated by dividing PAX's market cap by their current earnings.
What is PAX's PE Ratio?
PE Ratio27.2x
EarningsUS$64.70m
Market CapUS$1.76b

Price to Earnings Ratio vs Peers

How does PAX's PE Ratio compare to its peers?

The above table shows the PE ratio for PAX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average39.2x
WT WisdomTree
32.2x41.8%US$1.5b
PX P10
116.6x50.0%US$1.4b
ADX Adams Diversified Equity Fund
3.6xn/aUS$2.3b
GAM General American Investors Company
4.2xn/aUS$1.2b
PAX Patria Investments
27.2x43.5%US$1.8b

Price-To-Earnings vs Peers: PAX is good value based on its Price-To-Earnings Ratio (27.2x) compared to the peer average (39.2x).

Price to Earnings Ratio vs Industry

How does PAX's PE Ratio compare vs other companies in the US Capital Markets Industry?

22 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ADX Adams Diversified Equity Fund
3.6xn/aUS$2.26b
CET Central Securities
4.4xn/aUS$1.29b
GAM General American Investors Company
4.2xn/aUS$1.20b
MUDS Mudrick Capital Acquisition Corporation II
3.4xn/aUS$401.64m
PAX 27.2xIndustry Avg. 23.6xNo. of Companies73PE020406080100+
22 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PAX is expensive based on its Price-To-Earnings Ratio (27.2x) compared to the US Capital Markets industry average (23.6x).

Price to Earnings Ratio vs Fair Ratio

What is PAX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PAX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio27.2x
Fair PE Ratio23.4x

Price-To-Earnings vs Fair Ratio: PAX is expensive based on its Price-To-Earnings Ratio (27.2x) compared to the estimated Fair Price-To-Earnings Ratio (23.4x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst PAX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$11.47
US$16.00
+39.5%
20.4%US$23.00US$13.00n/a6
Dec ’25US$11.96
US$15.67
+31.0%
22.0%US$23.00US$13.00n/a6
Nov ’25US$11.66
US$15.50
+32.9%
22.9%US$23.00US$12.00n/a6
Oct ’25US$11.09
US$16.17
+45.8%
19.7%US$23.00US$14.00n/a6
Sep ’25US$11.52
US$17.36
+50.7%
20.0%US$23.00US$14.00n/a6
Aug ’25US$11.99
US$18.28
+52.4%
16.7%US$23.00US$14.00n/a6
Jul ’25US$12.17
US$18.95
+55.7%
12.7%US$23.00US$16.00n/a6
Jun ’25US$13.00
US$18.95
+45.7%
12.7%US$23.00US$16.00n/a6
May ’25US$13.39
US$19.11
+42.7%
11.7%US$23.00US$17.00n/a6
Apr ’25US$14.65
US$18.95
+29.4%
11.1%US$23.00US$17.00n/a7
Mar ’25US$14.89
US$18.95
+27.3%
11.1%US$23.00US$17.00n/a7
Feb ’25US$14.40
US$19.10
+32.6%
10.5%US$23.00US$17.00n/a7
Jan ’25US$15.51
US$18.67
+20.4%
9.1%US$21.17US$16.00n/a7
Dec ’24US$14.45
US$18.67
+29.2%
9.1%US$21.17US$16.00US$11.967
Nov ’24US$13.02
US$19.10
+46.7%
10.3%US$21.50US$16.00US$11.667
Oct ’24US$14.58
US$19.10
+31.0%
11.0%US$21.50US$16.00US$11.097
Sep ’24US$14.60
US$19.21
+31.6%
10.3%US$21.50US$16.00US$11.528
Aug ’24US$15.36
US$19.21
+25.1%
10.3%US$21.50US$16.00US$11.998
Jul ’24US$14.30
US$18.90
+32.1%
9.5%US$21.17US$16.00US$12.178
Jun ’24US$15.25
US$19.02
+24.7%
8.5%US$21.17US$16.00US$13.008
May ’24US$15.01
US$19.27
+28.4%
7.4%US$21.17US$17.00US$13.398
Apr ’24US$14.80
US$19.77
+33.6%
5.6%US$21.17US$17.00US$14.658
Mar ’24US$15.90
US$19.77
+24.3%
5.6%US$21.17US$17.00US$14.898
Feb ’24US$15.50
US$19.40
+25.1%
6.4%US$21.17US$17.00US$14.408
Jan ’24US$13.93
US$19.27
+38.3%
6.9%US$21.17US$17.00US$15.518
Dec ’23US$13.54
US$18.52
+36.8%
8.3%US$21.17US$17.00US$14.458

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 02:42
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Patria Investments Limited is covered by 11 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Craig SiegenthalerBofA Global Research
Eduardo RosmanBTG Pactual
Marcelo Fedato TellesCredit Suisse