Patrick Industries, Inc. (PATK) Stock Analysis
Consumer Cyclical · Recreational Vehicles · NasdaqGS
Patrick Industries, Inc. (PATK) posted $3.95B in revenue for fiscal 2025 (up 6.3% year over year), at a 3.4% net margin, and has compounded revenue about 9.7%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Patrick Industries, Inc.
Patrick Industries, Inc. has grown revenue from $1.22B to $3.95B over the last 10 fiscal years, compounding about 9.7% a year. The most recent year was up 6.3%, so growth has cooled from its longer-run pace.
Net margin sits at 3.4%, down 0.3 points year over year on a 23.1% gross margin. It carries about $1.30B of total debt.
At today's valuation the market is pricing in roughly -0.2% annual free-cash-flow growth — versus the 14% it actually delivered over the last five years, so the price is arguably undemanding against what it has already proven. The one thing worth a second look in the filings is net margin shrinking.
Synthesised from Patrick Industries, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Patrick Industries, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.22B | $1.64B | $2.26B | $2.34B | $2.49B | $4.08B | $4.88B | $3.47B | $3.72B | $3.95B |
| Gross profit | $202.47M | $278.92M | $415.87M | $422.87M | $459.02M | $801.19M | $1.06B | $782.23M | $835.89M | $912.86M |
| Net income | $55.58M | $85.72M | $119.83M | $89.57M | $97.06M | $224.91M | $328.20M | $142.90M | $138.40M | $135.06M |
| Net margin | 4.5% | 5.2% | 5.3% | 3.8% | 3.9% | 5.5% | 6.7% | 4.1% | 3.7% | 3.4% |
Source: Patrick Industries, Inc. SEC filings (10-K). 17 years of history available in the interactive view.
Patrick Industries, Inc.: 1 potential red flag in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Net margin shrinkingNet margin fell from 6.7% to 3.4% over ~3 years — profitability is compressing.
What growth is priced into PATK stock?
At today's market cap of $2.76B, Patrick Industries, Inc. is priced for free-cash-flow growth of about -0.2% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $246.49M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 14%/yr over the last five fiscal years and revenue 9.7%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 17 years of Patrick Industries, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Patrick Industries, Inc. financial history by metric
Compare Patrick Industries, Inc. with peers
About Patrick Industries, Inc.
Patrick Industries, Inc. manufactures and distributes component and materials for recreational vehicle, marine, powersports, manufactured housing, and industrial markets in the United States, Mexico, China, and Canada. The company operates through Manufacturing and Distribution segments. Its Manufacturing segment manufactures and sells laminated for furniture, shelving, wall, countertop, and cabinet products; cabinet doors, fiberglass bath fixtures, and tile systems; vinyl printing, amplifiers, tower speakers, soundbars, and subwoofers; solid surface, granite, and quartz countertop fabrication; aluminum products; fiberglass and plastic components; decorative vinyl and paper laminated panels; softwoods lumber; custom cabinetry; polymer-based and other flooring products; and dash panels. This segment also provides wrapped vinyl, paper, and hardwood profile mouldings; interior passage doors; air handling products; slide-out trim and fascia; treated, untreated, and laminated plywood; fiberglass and plastic helm systems and components; boat towers, tops, trailers, and frames; adhesives and sealants; thermoformed shower surrounds; specialty bath, and closet building products; wiring and wire harnesses; aluminum and plastic fuel tanks; CNC molds, composite parts, and marine hardware and accessories; slotwall panels and components; and other products. The company's Distribution segment distributes pre-finished wall and ceiling panels, drywall and finishing products, electronic and audio systems, appliances, and marine accessories; wiring, electrical, and plumbing products; fiber reinforced polyester products; and cement siding, raw and processed lumber, interior passage, roofing, laminate, and ceramic flooring, shower doors, furniture, fireplaces and surrounds, interior and exterior lighting products, and other products. This segment also offers transportation and logistics services. Patrick Industries, Inc. was incorporated in 1959 and is based in Elkhart, Indiana.
Patrick Industries, Inc. — frequently asked questions
What is Patrick Industries, Inc.'s revenue?
Patrick Industries, Inc. (PATK) reported revenue of $3.95B for fiscal year 2025, up 6.3% from the prior year, according to its SEC filings.
Is Patrick Industries, Inc. profitable?
Yes. PATK earned net income of $135.06M in fiscal 2025, a net margin of 3.4%.
What is PATK's P/E ratio?
Patrick Industries, Inc. trades at a price-to-earnings ratio of about 21.6 based on the latest data in our nightly-refreshed cache.
How fast is Patrick Industries, Inc. growing?
PATK's revenue grew at roughly 9.7% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Patrick Industries, Inc. have?
As of fiscal year 2025, PATK carried roughly $1.30B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Patrick Industries, Inc.'s gross margin?
PATK's gross margin was 23.1% in fiscal 2025 — gross profit of $912.86M on revenue of $3.95B.
What is Patrick Industries, Inc.'s market cap?
Patrick Industries, Inc. (PATK) has a market capitalization of about $2.76B, based on the latest data in our nightly-refreshed cache.
When does Patrick Industries, Inc.'s fiscal year end?
PATK's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into PATK stock?
At today's market cap of $2.76B, Patrick Industries, Inc. is priced for free-cash-flow growth of about -0.2% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $246.49M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 14%/yr over the last five fiscal years and revenue 9.7%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Patrick Industries, Inc.'s official SEC filings (10-K and 10-Q), covering 17 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.