Patria Investments Ltd Financials

PAX

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2024 Currency USD FYE December

This page shows Patria Investments Ltd (PAX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 63/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Patria Investments Ltd's revenue grew 14.2% year-over-year to $374.2M, a solid pace of expansion. This earns a growth score of 57/100.

Leverage

100

Patria Investments Ltd carries a low D/E ratio of 0.04, meaning only $0.04 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Patria Investments Ltd's current ratio of 0.94 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 14/100, which could limit financial flexibility.

Cash Flow

100

Patria Investments Ltd converts 38.0% of revenue into free cash flow ($142.3M). This strong cash generation earns a score of 100/100.

Returns

Patria Investments Ltd's ROE of 15.4% shows moderate profitability relative to equity, earning a score of 45/100. This is down from 23.2% the prior year.

Piotroski F-Score Weak

3/9

Patria Investments Ltd passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.93x

For every $1 of reported earnings, Patria Investments Ltd generates $1.93 in operating cash flow ($145.9M OCF vs $75.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$374.2M

YoY+14.2%

5Y CAGR+24.9%

Patria Investments Ltd generated $374.2M in revenue in fiscal year 2024. This represents an increase of 14.2% from the prior year.

EBITDA

N/A

Net Income

$75.7M

YoY-37.4%

5Y CAGR+4.4%

Patria Investments Ltd reported $75.7M in net income in fiscal year 2024. This represents a decrease of 37.4% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$142.3M

YoY-5.6%

5Y CAGR+26.3%

Patria Investments Ltd generated $142.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 5.6% from the prior year.

Cash & Debt

$33.4M

YoY+108.2%

5Y CAGR+52.0%

Patria Investments Ltd held $33.4M in cash against $18.7M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

20.2%

YoY-16.7pp

5Y CAGR-29.2pp

Patria Investments Ltd's net profit margin was 20.2% in fiscal year 2024, showing the share of revenue converted to profit. This is down 16.7 percentage points from the prior year.

Return on Equity

15.4%

YoY-7.7pp

5Y CAGR-53.2pp

Patria Investments Ltd's ROE was 15.4% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 7.7 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$3.6M

YoY-38.6%

5Y CAGR+89.6%

Patria Investments Ltd invested $3.6M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 38.6% from the prior year.

PAX Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$374.2M+14.2%	$327.6M+26.6%	$258.9M+9.9%	$235.5M+104.8%	$115.0M-6.7%	$123.2M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$1.4M+11.2%	$1.2M-31.2%	$1.8M+76.8%	$1.0M+17.6%	$869K-5.3%	$918K
Income Tax	$10.3M+466.0%	-$2.8M-133.7%	$8.3M+2091.3%	$381K-87.9%	$3.1M-10.7%	$3.5M
Net Income	$75.7M-37.4%	$120.8M+28.4%	$94.1M-22.4%	$121.2M+96.0%	$61.8M+1.5%	$60.9M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

PAX Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$1.2B+19.2%	$1.0B+3.6%	$976.2M+28.2%	$761.3M+610.2%	$107.2M-6.7%	$114.9M
Current Assets	$372.7M-7.2%	$401.6M-16.3%	$479.6M+36.1%	$352.3M+556.4%	$53.7M-5.5%	$56.8M
Cash & Equivalents	$33.4M+108.2%	$16.1M-39.5%	$26.5M+73.7%	$15.3M+8.6%	$14.1M+241.1%	$4.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$217.1M+70.5%	$127.4M+1.6%	$125.4M+29.1%	$97.1M+304.3%	$24.0M+118.2%	$11.0M
Goodwill	$700.9M+43.9%	$487.0M+18.3%	$411.5M+14.7%	$358.9M+1505.3%	$22.4M-12.2%	$25.5M
Total Liabilities	$715.2M+45.9%	$490.2M+5.9%	$462.8M+134.9%	$197.0M+309.4%	$48.1M+84.3%	$26.1M
Current Liabilities	$397.4M0.0%	$397.5M+17.6%	$338.0M+116.4%	$156.2M+254.7%	$44.0M+131.3%	$19.0M
Long-Term Debt	$18.7M+46.0%	$12.8M-7.4%	$13.9M+100.4%	$6.9M+762.0%	$802K-57.5%	$1.9M
Total Equity	$490.9M-5.8%	$521.3M+1.5%	$513.5M-9.0%	$564.3M+855.2%	$59.1M-33.4%	$88.7M
Retained Earnings	$0-100.0%	$50.8M-34.5%	$77.6M-11.8%	$87.9M+41.8%	$62.0M-27.5%	$85.5M

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19
Total Assets	$1.2B+19.2%	$1.0B+3.6%	$976.2M+28.2%	$761.3M+610.2%	$107.2M-6.7%	$114.9M
Current Assets	$372.7M-7.2%	$401.6M-16.3%	$479.6M+36.1%	$352.3M+556.4%	$53.7M-5.5%	$56.8M
Cash & Equivalents	$33.4M+108.2%	$16.1M-39.5%	$26.5M+73.7%	$15.3M+8.6%	$14.1M+241.1%	$4.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$217.1M+70.5%	$127.4M+1.6%	$125.4M+29.1%	$97.1M+304.3%	$24.0M+118.2%	$11.0M
Goodwill	$700.9M+43.9%	$487.0M+18.3%	$411.5M+14.7%	$358.9M+1505.3%	$22.4M-12.2%	$25.5M
Total Liabilities	$715.2M+45.9%	$490.2M+5.9%	$462.8M+134.9%	$197.0M+309.4%	$48.1M+84.3%	$26.1M
Current Liabilities	$397.4M0.0%	$397.5M+17.6%	$338.0M+116.4%	$156.2M+254.7%	$44.0M+131.3%	$19.0M
Long-Term Debt	$18.7M+46.0%	$12.8M-7.4%	$13.9M+100.4%	$6.9M+762.0%	$802K-57.5%	$1.9M
Total Equity	$490.9M-5.8%	$521.3M+1.5%	$513.5M-9.0%	$564.3M+855.2%	$59.1M-33.4%	$88.7M
Retained Earnings	$0-100.0%	$50.8M-34.5%	$77.6M-11.8%	$87.9M+41.8%	$62.0M-27.5%	$85.5M

PAX Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$145.9M-6.9%	$156.7M+93.4%	$81.1M-24.6%	$107.6M+104.1%	$52.7M+18.5%	$44.5M
Capital Expenditures	$3.6M-38.6%	$5.9M+7.9%	$5.4M+250.7%	$1.6M+851.5%	$163K+10.9%	$147K
Free Cash Flow	$142.3M-5.6%	$150.9M+99.5%	$75.6M-28.7%	$106.0M+101.8%	$52.5M+18.5%	$44.3M
Investing Cash Flow	$25.3M-59.3%	$62.2M+132.8%	-$189.3M+33.4%	-$284.2M-1308.9%	$23.5M+108.9%	$11.3M
Financing Cash Flow	-$151.7M+34.0%	-$229.6M-293.7%	$118.5M-33.4%	$177.9M+368.6%	-$66.2M-23.2%	-$53.8M
Dividends Paid	$132.4M-8.8%	$145.1M+40.5%	$103.3M-13.7%	$119.8M+85.8%	$64.5M+37.5%	$46.9M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

PAX Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	20.2%-16.7pp	36.9%+0.5pp	36.4%-15.1pp	51.5%-2.3pp	53.8%+4.3pp	49.5%
Return on Equity	15.4%-7.7pp	23.2%+4.8pp	18.3%-3.1pp	21.5%-83.2pp	104.7%+36.0pp	68.7%
Return on Assets	6.3%-5.7pp	11.9%+2.3pp	9.6%-6.3pp	15.9%-41.8pp	57.7%+4.6pp	53.1%
Current Ratio	0.94-0.1	1.01-0.4	1.42-0.8	2.26+1.0	1.22-1.8	2.98
Debt-to-Equity	0.04+0.0	0.020.0	0.03+0.0	0.010.0	0.010.0	0.02
FCF Margin	38.0%-8.0pp	46.1%+16.8pp	29.2%-15.8pp	45.0%-0.7pp	45.7%+9.7pp	36.0%

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	0.94-0.1	1.01-0.4	1.42-0.8	2.26+1.0	1.22-1.8	2.98
Debt-to-Equity	0.04+0.0	0.020.0	0.03+0.0	0.010.0	0.010.0	0.02
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Note: The current ratio is below 1.0 (0.94), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Patria Investments Ltd's annual revenue?

Patria Investments Ltd (PAX) reported $374.2M in total revenue for fiscal year 2024. This represents a 14.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Patria Investments Ltd's revenue growing?

Patria Investments Ltd (PAX) revenue grew by 14.2% year-over-year, from $327.6M to $374.2M in fiscal year 2024.

Is Patria Investments Ltd profitable?

Yes, Patria Investments Ltd (PAX) reported a net income of $75.7M in fiscal year 2024, with a net profit margin of 20.2%.

How much debt does Patria Investments Ltd have?

As of fiscal year 2024, Patria Investments Ltd (PAX) had $33.4M in cash and equivalents against $18.7M in long-term debt.

What is Patria Investments Ltd's net profit margin?

Patria Investments Ltd (PAX) had a net profit margin of 20.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Patria Investments Ltd's return on equity (ROE)?

Patria Investments Ltd (PAX) has a return on equity of 15.4% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Patria Investments Ltd's free cash flow?

Patria Investments Ltd (PAX) generated $142.3M in free cash flow during fiscal year 2024. This represents a -5.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Patria Investments Ltd's operating cash flow?

Patria Investments Ltd (PAX) generated $145.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Patria Investments Ltd's total assets?

Patria Investments Ltd (PAX) had $1.2B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Patria Investments Ltd's capital expenditures?

Patria Investments Ltd (PAX) invested $3.6M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

What is Patria Investments Ltd's current ratio?

Patria Investments Ltd (PAX) had a current ratio of 0.94 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Patria Investments Ltd's debt-to-equity ratio?

Patria Investments Ltd (PAX) had a debt-to-equity ratio of 0.04 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Patria Investments Ltd's return on assets (ROA)?

Patria Investments Ltd (PAX) had a return on assets of 6.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Patria Investments Ltd's Piotroski F-Score?

Patria Investments Ltd (PAX) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Patria Investments Ltd's earnings high quality?

Patria Investments Ltd (PAX) has an earnings quality ratio of 1.93x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Patria Investments Ltd?

Patria Investments Ltd (PAX) scores 63 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.