Patria Investments Ltd (PAX) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Apr 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PAX SEC filings page.
Patria Investments Ltd (PAX) reported $381.7M in revenue for fiscal year 2025, up 2.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).
Patria’s dominant mechanic is capital-light cash conversion: modest revenue growth now produces cash far above reported accounting profit.
In FY2025, operating cash flow was 3.1x net income, with$282.6M generated against$90.5M of profit. Free cash flow reached$272.1M after only$10.6M of capital spending, indicating that cash generation is not primarily being absorbed by reinvestment, though the earnings-to-cash gap also reflects non-cash or balance-sheet effects.
Revenue growth slowed to
The balance sheet carries limited conventional debt: debt-to-equity remained below 0.1x, while current assets were below current liabilities, reflected in a sub-1.0x current ratio. That pairing places the balance-sheet constraint in short-term obligations rather than long-term borrowing.
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Patria Investments Ltd's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Patria Investments Ltd, and counted as zero in the overall score.
Patria Investments Ltd's revenue grew a modest 2.0% year-over-year to $381.7M. This slow but positive growth earns a score of 59/100.
Patria Investments Ltd carries a low D/E ratio of 0.03, meaning only $0.03 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 86/100, indicating a strong balance sheet with room for future borrowing.
Patria Investments Ltd's current ratio of 0.98 is below the typical benchmark, resulting in a score of 18/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Patria Investments Ltd converts 71.3% of revenue into free cash flow ($272.1M). This strong cash generation earns a score of 99/100.
Not available for Patria Investments Ltd, and counted as zero in the overall score.
Patria Investments Ltd passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Patria Investments Ltd generates $3.12 in operating cash flow ($282.6M OCF vs $90.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q3 2025.
Cash & Balance Sheet
Patria Investments Ltd held $33.4M in cash against $18.7M in long-term debt as of Q3 2025, with $397.4M of liabilities due within a year.
Not reported for Q3 2025.
Not reported for Q3 2025.
Margins & Returns
None of these metrics is reported for Q3 2025.
Capital Allocation
None of these metrics is reported for Q3 2025.
PAX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
PAX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2510-K | Q3'2410-K | Q3'2310-K | Q3'2210-K | Q3'2110-K | Q3'2010-K |
|---|---|---|---|---|---|---|
| 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 |
| 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 |
| Non-Current Liabilities | $317.8M+242.7% | $92.7M-25.7% | $124.8M+205.8% | $40.8M+898.8% | $4.1M-42.2% | $7.1M |
| 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 |
Not reported in any period shown, so not listed: Short-Term Investments, Inventory, Long-Term Investments.
PAX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
PAX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
Note: The current ratio is below 1.0 (0.98), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Patria Investments Ltd PAX | FY2025 | $381.7M | $90.5M | 23.7% | $1.8B | 44/100 |
| Gcm Grosvenor Inc GCMG | FY2025 | $557.6M | $45.4M | 8.1% | $813.0M | 46/100 |
| BROOKFIELD BUSINESS CORP BBUC | FY2025 | $27.5B | $387.0M | 1.4% | $5.6B | 23/100 |
| Digitalbridge Group Inc DBRG | FY2025 | $94.0M | -$27.0M | -28.7% | $3.0B | 21/100 |
Where Patria Investments Ltd Ranks
Frequently Asked Questions
What is Patria Investments Ltd's annual revenue?
Patria Investments Ltd (PAX) reported $381.7M in total revenue for fiscal year 2025. This represents a 2.0% 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 2.0% year-over-year, from $374.2M to $381.7M in fiscal year 2025.
Is Patria Investments Ltd profitable?
Yes, Patria Investments Ltd (PAX) reported a net income of $90.5M in fiscal year 2025, with a net profit margin of 23.7%.
How much debt does Patria Investments Ltd have?
As of fiscal year 2025, Patria Investments Ltd (PAX) had $53.6M in cash and equivalents against $19.5M in long-term debt.
What is Patria Investments Ltd's net profit margin?
Patria Investments Ltd (PAX) had a net profit margin of 23.7% in fiscal year 2025, 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 14.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Patria Investments Ltd's free cash flow?
Patria Investments Ltd (PAX) generated $272.1M in free cash flow during fiscal year 2025. This represents a 91.1% 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 $282.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Patria Investments Ltd's total assets?
Patria Investments Ltd (PAX) had $1.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Patria Investments Ltd's capital expenditures?
Patria Investments Ltd (PAX) invested $10.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Patria Investments Ltd's current ratio?
Patria Investments Ltd (PAX) had a current ratio of 0.98 as of fiscal year 2025, 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 0.03 as of fiscal year 2025, 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 6.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Patria Investments Ltd's P/E ratio?
Patria Investments Ltd (PAX) trades at 20.2x earnings, its market capitalization divided by net income of $90.5M net income, FY2025. The market capitalization is $1.8B as of Sep 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Patria Investments Ltd's price-to-sales ratio?
Patria Investments Ltd (PAX) trades at 4.8x sales, its market capitalization divided by revenue of $381.7M revenue, FY2025. The market capitalization is $1.8B as of Sep 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Patria Investments Ltd's Piotroski F-Score?
Patria Investments Ltd (PAX) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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 3.12x, 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 44 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.