Patria Investments (PAX) AI Stock Analysis

• Market Cap: $2.39B
• Dividend Yield: 4.01%
• Average Volume (3M): 495.03K
• Price to Earnings (P/E): 32.1
• Beta (1Y): 0.86
• Revenue Growth: 22.92%
• EPS Growth: -40.61%
• Country: US
• Employees: 577
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 0.24
• Shares Outstanding: 66,521,570
• 10 Day Avg. Volume: 508,260
• 30 Day Avg. Volume: 495,030
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.79
• Enterprise Value/Revenue: 4.83
• Enterprise Value/Gross Profit: 7.65
• Enterprise Value/Ebitda: 10.88
• 1Y Price Target: $15.63
• Price Target Upside: 4.55% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 4

• Rating: 68 Neutral
• Price Target: $14.50 ▼(-3.01% Downside)

Patria Investments' overall score is driven by strong earnings call performance and solid financial growth, despite challenges in valuation and technical indicators. The company's increased fundraising targets and positive guidance contribute significantly to the score.

Patria Investments Business Overview & Revenue Model

Company Description

Patria Investments Limited operates as a private market investment firm focused on investing in Latin America. The company offers asset management services to investors focusing on private equity funds, infrastructure development funds, co-investments funds, constructivist equity funds, and real estate and credit funds. Patria Investments Limited was founded in 1994 and is headquartered in Grand Cayman, the Cayman Islands.

How the Company Makes Money

Patria Investments generates revenue primarily through management fees and performance fees. The company charges management fees based on a percentage of assets under management (AUM), providing a steady income stream as long as the assets remain invested. Additionally, Patria earns performance fees contingent upon achieving certain return thresholds, aligning its interests with those of its investors. The firm's strategic partnerships and local market expertise enable it to identify lucrative investment opportunities, which, combined with successful asset management, contribute to its earnings. Furthermore, Patria's diversification across different asset classes and sectors helps mitigate risks and enhance potential returns.

Patria Investments Financial Statement Overview

Summary

Patria Investments shows strong revenue growth and a stable equity base, but faces challenges with declining net income and cash flow generation. The increased leverage requires careful management to maintain financial health.

Income Statement

Patria Investments has shown consistent revenue growth over recent years, with a notable increase from $329.4 million in 2023 to $374.2 million in 2024. The gross profit margin remains robust, reflecting efficient cost management. However, the net profit margin has declined due to a decrease in net income from 2023 to 2024, which could indicate rising operational costs or other financial pressures.

Balance Sheet

The company maintains a strong equity position with a healthy equity ratio, though the debt-to-equity ratio has increased due to significant growth in total debt. While this suggests potential leverage risks, the overall financial structure remains stable with adequate stockholders' equity to support business operations.

Cash Flow

There is a noticeable decline in free cash flow in 2024, which raises concerns about the company's ability to generate cash from operations. The absence of operating cash flow data for 2024 limits detailed analysis, but previous years showed robust free cash flow and operating efficiency.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	390.00M	374.20M	329.41M	258.88M	235.51M	115.02M
Gross Profit	246.50M	230.40M	202.74M	224.37M	148.75M	81.83M
EBITDA	173.18M	179.91M	146.36M	132.81M	130.93M	72.81M
Net Income	72.70M	73.40M	118.40M	92.96M	122.48M	62.21M
Balance Sheet
Total Assets	1.28B	1.22B	1.01B	976.24M	761.32M	107.20M
Cash, Cash Equivalents and Short-Term Investments	175.40M	92.40M	33.20M	312.37M	167.13M	23.98M
Total Debt	214.75M	250.41M	15.84M	16.09M	7.86M	1.58M
Total Liabilities	718.10M	723.60M	490.24M	462.78M	197.04M	48.13M
Stockholders Equity	549.40M	480.60M	542.49M	552.79M	564.28M	57.31M
Cash Flow
Free Cash Flow	198.33M	137.66M	141.71M	74.34M	105.72M	52.03M
Operating Cash Flow	204.08M	145.95M	156.72M	81.05M	107.56M	52.70M
Investing Cash Flow	68.65M	25.31M	62.17M	-189.35M	-284.23M	23.51M
Financing Cash Flow	-260.49M	-151.65M	-229.63M	118.55M	177.89M	-66.24M

Patria Investments Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 14.95
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PAX, the sentiment is Positive. The current price of 14.95 is above the 20-day moving average (MA) of 14.07, above the 50-day MA of 13.74, and above the 200-day MA of 12.20, indicating a bullish trend. The MACD of 0.39 indicates Negative momentum. The RSI at 68.98 is Neutral, neither overbought nor oversold. The STOCH value of 82.72 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PAX.

Patria Investments Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VINP	80 Outperform	660.91M	21.42	6.09%	5.84%	53.35%	-24.09%
GSBD	71 Outperform	1.28B	9.05	0.00%	15.51%	-55.16%	47.09%
APAM	69 Neutral	3.69B	12.42	64.76%	7.81%	9.98%	12.97%
PAX	68 Neutral	$2.39B	32.07	13.60%	4.01%	22.92%	-40.61%
BCSF	66 Neutral	962.00M	8.94	0.00%	12.14%	-3.29%	-16.86%
GCMG	64 Neutral	2.53B	92.79	-134.07%	3.40%	15.78%	56.27%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

Patria Investments Corporate Events

Patria Investments Announces AGM Results and Board Appointment

On September 10, 2025, Patria Investments Limited held its annual general meeting where shareholders approved the financial statements and auditor’s report for the fiscal year ending December 31, 2024. Additionally, Daniel Rizardi Sorrentino was appointed as a new member of the Board of Directors, reflecting a strategic move to strengthen the company’s governance and leadership.

Patria Investments Announces 2025 AGM and Board Appointment

Patria Investments Limited has announced its Annual General Meeting (AGM) scheduled for September 10, 2025. The meeting will be held virtually and at their offices in Grand Cayman. Key resolutions to be voted on include the approval of the company’s financial statements for the fiscal year ending December 31, 2024, and the appointment of Daniel Rizardi Sorrentino to the Board of Directors. The AGM is significant for stakeholders as it will determine the company’s financial direction and leadership structure.

Patria Investments Announces Board Changes with New Interim Appointment

On August 20, 2025, Patria Investments announced a change in its Board of Directors with the resignation of Peter Paul Lorenço Estermann and the appointment of Daniel Rizardi Sorrentino as an interim Board member. Sorrentino, who has been with Patria since 2001 and currently serves as the Global Head of Commercial, will maintain his existing role while serving on the Board. This change reflects Patria’s ongoing strategic adjustments to strengthen its leadership and operational capabilities.

Patria Investments Reports Strong Q2 2025 Earnings and Announces Share Repurchase Program

On August 1, 2025, Patria Investments reported its unaudited second-quarter earnings, highlighting a robust fundraising performance of $1.3 billion, bringing the total for the first half of 2025 to approximately $4.5 billion. The company anticipates exceeding its initial full-year fundraising target by 5%-10%. Patria’s Fee Related Earnings (FRE) for Q2 2025 reached $46 million, marking a 17% year-over-year increase, while the firm’s Fee Earning Assets Under Management (FEAUM) grew by 6% sequentially and 20% year-over-year. Despite potential global economic challenges, Patria remains confident in achieving its 2025 FRE target of $200-$225 million, supported by its diversified platform and organic growth. Additionally, the board authorized a new share repurchase program for up to 3 million Class A common shares, reflecting the company’s strategic focus on enhancing shareholder value.

Patria Investments Reports Q1 2025 Financial Results

On July 31, 2025, Patria Investments Limited released its unaudited condensed consolidated interim financial statements for the three-month period ending March 31, 2025. The report highlights a growth in net revenue from services, reaching $79.6 million compared to $63.9 million in the same period in 2024. Despite an increase in personnel expenses and financial expenses, the company managed to maintain a net income before income tax of $14.6 million, although this represents a decrease from the previous year’s $20.1 million. The financial results indicate a robust performance in revenue generation, although challenges in managing expenses have impacted profitability.