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Patrick Industries Inc key statistics and ratios

In fiscal 2025, Patrick Industries Inc had return on equity of 11.7%, an operating margin of 7.0%, debt equal to 109.8% of equity and a current ratio of 2.51. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Gross margin———15.3%16.1%16.5%16.6%17.1%18.4%18.1%18.5%19.6%21.7%22.6%22.5%23.1%23.1%
Operating margin53.4%168.4%93.2%6.9%7.0%7.6%7.4%7.5%7.9%6.6%7.0%8.6%10.2%7.5%6.9%7.0%6.7%
Net margin10.2%105.9%96.9%4.0%4.2%4.6%4.5%5.2%5.3%3.8%3.9%5.5%6.7%4.1%3.7%3.4%3.7%
Free-cash-flow margin54.4%117.2%45.2%2.3%5.4%6.4%6.7%4.7%7.3%7.0%5.1%4.6%6.8%10.1%6.8%6.2%3.2%
Return on equity6.8%36.1%62.3%33.5%33.1%36.5%35.4%30.8%30.7%19.8%18.4%33.9%38.1%14.3%12.7%11.7%12.7%
Return on assets1.6%10.5%24.5%15.1%14.3%13.3%12.1%12.2%11.4%6.6%6.0%10.2%12.1%5.3%5.0%4.4%4.7%
Asset turnover0.160.100.253.753.422.892.672.332.161.731.541.851.801.301.331.301.25
Current ratio0.742.242.532.712.542.312.012.012.442.762.322.252.482.382.332.512.67
Debt to equity199.8%114.3%81.0%66.8%98.3%159.0%147.3%95.6%161.7%141.7%150.1%177.3%135.9%99.3%118.1%109.8%126.4%
Interest cover (operating income ÷ interest)1.2x3.0x6.7x18.6x21.4x16.3x———————————
Effective tax rate——−32.1%38.0%37.5%35.6%33.6%24.2%21.2%24.0%25.6%23.5%24.6%25.3%22.5%23.7%23.1%
SG&A as % of revenue115.3%207.5%74.6%4.7%4.9%5.0%5.1%5.5%5.7%5.8%5.9%6.2%6.7%8.6%8.8%9.2%9.2%
Capital spending as % of revenue11.3%30.4%27.2%1.5%0.9%0.9%1.3%1.4%1.5%1.2%1.3%1.6%1.6%1.7%2.0%2.1%2.1%
Free cash flow ÷ net income532.7%110.7%46.6%57.2%129.7%139.5%147.1%90.3%138.1%183.9%131.9%83.3%101.1%244.7%181.5%182.5%86.8%
Dividends ÷ net income————————0.0%6.5%24.3%12.0%10.0%29.5%36.3%40.9%40.4%
Dividends and buybacks ÷ free cash flow———44.2%35.0%38.4%6.4%0.0%65.0%5.8%36.5%40.6%33.1%17.4%21.8%35.4%129.6%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 6 checks passed · June 28, 2026
What it owns · $3.2bn
Short-term assets $1.0bnLonger-term assets $2.2bn
What it owes, and who funded it · $3.2bn
Short-term liabilities $383mLonger-term liabilities $1.7bnShareholders' equity $1.1bn
  • Short-term assets cover short-term liabilities $1.0bn of assets due within a year against $383m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.0bn short-term assets against $1.7bn of longer-dated liabilities.
  • More cash than debt $29m of cash against $1.4bn of debt.
  • Debt below 40% of shareholders' equity Debt is 125% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 167% to 125% over five years.
  • A year's operating cash flow covers at least 20% of debt $209m of operating cash flow against $1.4bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Patrick Industries Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

64 /100

Moderate moat

How hard Patrick Industries's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 16.8% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 21.0%, moving by 2.1 percentage points (standard deviation) across 9 years.

  • Durability 11 / 20

    Operating margin has been a median 7.5%; its worst year was 5.9%.

  • Cash conversion 13 / 20

    Free cash flow was positive in 9 of 9 years, at a median 6.9% of revenue.

  • Discipline 17 / 20

    The diluted share count fell 0.7% over five years; stock-based pay has been a median 0.6% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (70 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: LCII vs PATKPATK vs VCGTX vs PATKPATK vs PHIN

More: Automotive Parts & Equipment stocks compared, Consumer Discretionary sector, rankings of US companies

Figures from Patrick Industries Inc's SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Patrick Industries Inc.