Patrick Industries, Inc. (PATK) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-4.2%

$78.29

vs $81.75 price

Levered DCF

$65.19

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.48

Grey zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	26.06×	19.55×	10.06×	2.7×	5.59×	10.67×	9.01×	3.96×
P/B	2.97×	2.4×	1.41×	0.93×	1.64×	1.85×	1.62×	1.16×
P/S	0.89×	0.73×	0.42×	0.18×	0.31×	0.42×	0.34×	0.21×
EV / EBITDA	12.18×	9.88×	6.59×	3.69×	5.65×	7.82×	6.64×	4.7×
Gross margin	23.1%	22.5%	22.6%	21.7%	19.6%	18.5%	18.1%	18.4%
Operating margin	7.0%	6.9%	7.5%	10.2%	8.6%	7.0%	6.6%	7.9%
Net margin	3.4%	3.7%	4.1%	6.7%	5.5%	3.9%	3.8%	5.3%
Current ratio	2.51×	2.33×	2.38×	2.48×	2.25×	2.32×	2.76×	2.44×
Debt / equity	1.39×	1.35×	1.15×	1.52×	1.89×	1.68×	1.56×	1.54×
Interest coverage	3.7×	3.25×	3.77×	8.17×	6.08×	4.03×	4.22×	6.75×
Dividend yield	1.6%	1.9%	2.9%	3.7%	2.2%	2.3%	0.7%	0.0%
Payout ratio	40.9%	36.3%	29.5%	10.0%	12.0%	24.3%	6.5%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.4%	12.3%	13.7%	34.4%	29.3%	17.3%	18.0%	29.3%
Return on invested capital	7.5%	7.3%	8.0%	15.2%	11.9%	8.3%	8.9%	13.0%
Return on assets	4.4%	4.6%	5.3%	11.8%	8.5%	5.5%	6.1%	9.7%
Free cash flow yield	6.9%	9.3%	23.8%	37.4%	14.9%	12.4%	20.4%	34.9%
Earnings yield	3.8%	5.1%	9.7%	37.0%	17.9%	9.4%	11.1%	25.3%
Enterprise value	$5.1B	$4.2B	$2.7B	$2.3B	$2.6B	$1.9B	$1.4B	$1.1B
Net debt / EBITDA	3.83×	3.51×	2.95×	2.28×	2.9×	3.62×	2.93×	2.67×
Cash conversion cycle (days)	66	65	68	64	62	58	44	51