Patria Investments Ltd key statistics and ratios

In fiscal 2025, Patria Investments Ltd had return on equity of 15.7%, a net margin of 22.4%, debt equal to 28.6% of equity and a current ratio of 0.98. 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.

Patria Investments Ltd: financial ratios, annual
Fiscal year	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	61.0%	65.1%	71.2%	63.2%	—	—	—	—
Operating margin	44.0%	52.4%	56.7%	51.7%	—	—	—	—
Net margin	41.3%	47.5%	54.1%	52.0%	35.9%	36.1%	19.2%	22.4%
Free-cash-flow margin	36.4%	36.0%	45.7%	45.0%	29.2%	46.0%	38.0%	71.3%
Return on equity	55.7%	73.4%	89.9%	39.4%	16.6%	21.6%	14.0%	15.7%
Return on assets	—	51.0%	56.0%	28.2%	10.7%	11.9%	6.5%	6.3%
Asset turnover	—	1.07	1.04	0.54	0.30	0.33	0.34	0.28
Current ratio	—	2.98	1.22	2.26	1.42	1.01	0.94	0.98
Debt to equity	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	47.4%	28.6%
Interest cover (operating income ÷ interest)	—	70.4x	75.0x	119.2x	—	—	—	—
Effective tax rate	4.3%	5.5%	4.8%	0.3%	8.1%	−2.4%	12.0%	1.9%
Capital spending as % of revenue	1.0%	0.1%	0.1%	0.7%	2.1%	1.8%	1.0%	2.8%
Free cash flow ÷ net income	88.2%	75.7%	84.4%	86.6%	81.3%	127.4%	198.0%	317.6%
Dividends ÷ net income	87.0%	80.1%	103.7%	97.8%	111.2%	—	—	—
Dividends and buybacks ÷ free cash flow	98.7%	105.8%	122.7%	113.0%	136.7%	—	—	—

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.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

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

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Figures from Patria Investments Ltd's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Patria Investments Ltd.