Patrick Industries Inc (PATK) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Patrick Industries Inc stock $88.30, price $78.79, upside +12.1%, quality 53 out of 100. Rating: undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range $26.29 – $143.70 · fair‑value band $54.29 – $110.38 · the $78.79 price screens below the $88.30 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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Patrick Industries, Inc. manufactures and distributes component and materials for recreational vehicle, marine, powersports, manufactured housing, and industrial markets in the United States, Mexico, China, and Canada. The company operates through Manufacturing and Distribution segments.
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Its Manufacturing segment manufactures and sells laminated for furniture, shelving, wall, countertop, and cabinet products; cabinet doors, fiberglass bath fixtures, and tile systems; vinyl printing, amplifiers, tower speakers, soundbars, and subwoofers; solid surface, granite, and quartz countertop fabrication; aluminum products; fiberglass and plastic components; decorative vinyl and paper laminated panels; softwoods lumber; custom cabinetry; polymer-based and other flooring products; and dash panels.
This segment also provides wrapped vinyl, paper, and hardwood profile mouldings; interior passage doors; air handling products; slide-out trim and fascia; treated, untreated, and laminated plywood; fiberglass and plastic helm systems and components; boat towers, tops, trailers, and frames; adhesives and sealants; thermoformed shower surrounds; specialty bath, and closet building products; wiring and wire harnesses; aluminum and plastic fuel tanks; CNC molds, composite parts, and marine hardware and accessories; slotwall panels and components; and other products.
The company's Distribution segment distributes pre-finished wall and ceiling panels, drywall and finishing products, electronic and audio systems, appliances, and marine accessories; wiring, electrical, and plumbing products; fiber reinforced polyester products; and cement siding, raw and processed lumber, interior passage, roofing, laminate, and ceramic flooring, shower doors, furniture, fireplaces and surrounds, interior and exterior lighting products, and other products.
This segment also offers transportation and logistics services. Patrick Industries, Inc. was incorporated in 1959 and is based in Elkhart, Indiana.
Stock analysis
Patrick Industries Inc (PATK) currently trades at $78.79, while our model-based Fair Value estimate is $88.30, implying the stock looks roughly 11% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $122.59 per share, and 14 of the 24 models we run sit above the $78.79 price.
Bear case: the Dividend Discount group reads lowest at $25.86, and 10 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: $54.29 (bear) to $110.38 (bull), the price of $78.79 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 53/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Patrick Industries Inc reported revenue of $4.0B in FY2025 versus $4.1B in FY2021, a compound −0.8%/yr. Reported net income was $135M in FY2025, compounding −12.0%/yr from FY2021.
Key figures
Market cap $2.8B Mid · P/E ratio 20.4 · P/S ratio 0.70 · EPS (TTM) $3.86 · Dividend yield 0.6% · Net margin 3.4% · Return on equity 11.5% · Return on assets (EBIT) 11.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (low confidence).
What moves the price
The share trades about 45% below its 52-week high and 24% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 47% fair-value upside, at 12%, PATK screens richer than that median.
Fair Value models
Bear$54.29Fair Value $88.30Bull$110.38
Price $78.79 · Upside +12.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($2.91 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, one officer or director bought shares worth $17,329, on Jun 10, 2026.
BuyM Scott WelchDirector6× since Feb 27, 2026: 20,360 shares, avg. $100.89$2.1MJun 10, 2026
BuyJacob R PetkovichPresident - Marine1,300 shares at $95.57$124,241May 6, 2026
BuyAndy L NemethChief Executive Officer, Director10,000 shares at $88.00$880,000May 5, 2026
BuyBlake AugsburgerDirector400 shares at $85.19$34,076May 5, 2026
BuyMatthew S FilerEVP Finance, CFO & Treasurer2× since Feb 6, 2026: 2,000 shares, avg. $112.71$225,420May 5, 2026
BuyCharles R RoederPresident - RV5,750 shares at $87.83$505,023May 5, 2026
SaleHugo E GonzalezPres Powersports & Housing/COO13,514 shares at $113.10$1.5MMar 12, 2026
SaleJoel D DuthieChief Legal Officer/Secretary2,660 shares at $141.03$375,140Feb 17, 2026
SaleStacey L AmundsonEVP & CHRO3,903 shares at $145.61$568,316Feb 12, 2026
SaleJohn A ForbesDirector2,704 shares at $140.75$380,588Feb 6, 2026
Plus 1 more entries from the last 12 months.
Plus 9 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+6.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−6.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.7%
Start year 2020 (pandemic). Over 10 years: +15.7% a year
Revenue growth 40 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.1%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+1.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.5%
Dividend (yield on the price)0.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−1.5% vs 7.9%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.7% → 7%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+6.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +4.2% a year for the price and +0.2% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (94 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: The planned merger offers potential for greater scale and diversification across RV and related markets, yet limited evidence of a durable moat leaves the business exposed to sector cycles.
Main risk: Regulatory reviews and integration challenges from the LCI merger could delay or reduce the delivery of cost synergies into earnings.
Patrick Industries plans to merge with LCI Industries in an all-stock transaction that would leave its current shareholders with 52 percent of the combined company. The deal aims to build greater scale and diversification across recreational vehicle, marine, powersports and housing markets, yet near-term earnings face headwinds from softer RV demand. Will the expected cost synergies deliver value before regulatory reviews or integration challenges take their toll?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Recreational Vehicles · 32 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score53 · Above median
Fair Value upside+12.1% · Above median
Profitability
Return on equity (12 months)11.5% · Above median
Return on assets4.4% · Above median
Net margin (12 months)3.4% · Above median
Operating margin (12 months)5.1% · Above median
Growth and dividend
Revenue growth (quarter YoY)0.0% · Below median
Dividend yield (12 months)0.6% · Bottom 25%
Balance sheet
Debt / equity1.08× · Highest 25%
Valuation Multiplesvs Recreational Vehicles median · lower = cheaper
P/E (12 months)20.4× · Pricier than median
P/B2.33× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)0.70× · Cheaper than median
Price / free cash flow (fiscal year)11.2× · Pricier than median
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Is Patrick Industries Inc (PATK) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of $88.30 versus a price of $78.79, about +12% upside (undervalued).
What is the fair value of PATK?
Our model-based fair value for Patrick Industries Inc is $88.30 (as of Nov 9, 2026), built from audited fundamentals. The current price: $78.79.
What is the quality score of PATK?
Patrick Industries Inc has a Quality Score of 53/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Patrick Industries Inc (PATK)?
Our model-based price target is the fair value of $88.30 (as of Nov 9, 2026) from 24 valuation models. Cautious scenario $54.29, optimistic scenario $110.38. It is a calculation from audited fundamentals, not an analyst target.
What is the Patrick Industries Inc stock forecast for 2026?
Our models put fair value at $88.30, about +12% upside versus a price of $78.79 (undervalued). Cautious scenario $54.29, optimistic scenario $110.38. The calculation is refreshed regularly with new filings.
What is the revenue of Patrick Industries Inc (PATK)?
Patrick Industries Inc reported trailing-twelve-month revenue of about $3.9B (latest available figure, as of Nov 9, 2026).
Does Patrick Industries Inc pay a dividend?
Patrick Industries Inc currently shows a dividend yield of 0.60% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Patrick Industries Inc (PATK) and when is the ex-dividend date?
Patrick Industries Inc pays a dividend of $0.47 per share a year, a dividend yield of 0.6%. The last ex-dividend date was Aug 24, 2026. A dividend has been paid every year since 2019. The payout ratio is 10.5% of earnings (on adjusted earnings, reported 12.2%). Free cash flow covers the dividend 16.33 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Patrick Industries Inc (PATK)?
For today's price to be fair in a discounted-cash-flow model, Patrick Industries Inc would have to grow free cash flow by +6.7 % per year for five years (discount rate 10.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.7 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of PATK use?
Our models discount Patrick Industries Inc at 10.1 %: a base by market capitalisation (mid), damped by beta 1.15, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Patrick Industries Inc that is +6.7 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.1 %) and the same formula as our fair value.
How much growth has Patrick Industries Inc (PATK) delivered so far?
Over the past 5 years revenue at Patrick Industries Inc grew +9.7 % a year. The price currently implies free-cash-flow growth of +6.7 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Patrick Industries Inc (PATK) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Patrick Industries Inc (+6.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Patrick Industries Inc (PATK)?
The free-cash-flow yield on the price is 8.94 %: that much free cash flow Patrick Industries Inc produces per unit of market value. When it exceeds the discount rate of our models (10.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Patrick Industries Inc (PATK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Patrick Industries Inc it is $88.30 per share (as of Nov 9, 2026), against a price of $78.79. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is Patrick Industries Inc stock overvalued or undervalued in 2026?
As of Nov 9, 2026, PATK trades below its calculated fair value: price $78.79, fair value $88.30, a gap of about +12% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of PATK?
No. The price is what the market pays today ($78.79); the fair value is what the company's own numbers justify ($88.30). For Patrick Industries Inc the two are $9.51 per share apart. That gap is exactly why we show both numbers side by side.
How much is Patrick Industries Inc worth?
The market values Patrick Industries Inc at about $2.8B (market capitalisation, as of Nov 9, 2026). Per share that is $78.79; our models calculate a fair value of $88.30 per share.
What do the bullish and bearish scenarios say about PATK?
Our models span a range for Patrick Industries Inc: cautious scenario $54.29, base $88.30, optimistic $110.38 per share (as of Nov 9, 2026, price $78.79). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PATK?
Patrick Industries Inc trades at a price-to-earnings ratio of 20.4 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $88.30 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 17.8 (reported for FY2025: 20.5). Other multiples: PEG 3.5, P/B 2.3, P/S 0.7, EV/EBITDA 9.6.
What is the PEG ratio of PATK?
The PEG ratio of Patrick Industries Inc is 3.46 (P/E divided by earnings growth, as of Nov 9, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Patrick Industries Inc (PATK)?
Balance-sheet figures for Patrick Industries Inc (as of Nov 9, 2026): return on equity 11.5%, debt of 1.08 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is PATK from its 52-week high?
Patrick Industries Inc trades at $78.79, about 45% below its 52-week high of $143.70 and 24% above the low of $63.31 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $88.30 is for.
Which stocks are comparable to Patrick Industries Inc?
From the same area (Consumer Cyclical) we also value Zhejiang Cfmoto Power Co, Brunswick Corporation, BRP Inc, THOR Industries, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Patrick Industries Inc stock attractive at the current price?
The data as of Nov 9, 2026: price $78.79, calculated fair value $88.30 (+12%), Quality Score 53/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of PATK calculated?
We run Patrick Industries Inc through 24 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $88.30 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Patrick Industries Inc currently trades 11% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Patrick Industries Inc (PATK)?
The closing price on Nov 6, 2026 was $78.79. Our model-based fair value is $88.30, about +12% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Patrick Industries Inc right now?
A fairly wide model range ($54.29 to $110.38) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Patrick Industries Inc (PATK) come from?
Earnings per share at Patrick Industries Inc grew +10.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +13.0 %, EBIT margin −0.4 %, tax rate +1.8 %, residual (interest, one-offs) −3.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Patrick Industries Inc
How large is the market capitalisation of Patrick Industries Inc (PATK)?
The market capitalisation of Patrick Industries Inc is $2.8B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Patrick Industries Inc (PATK)?
The price-to-sales ratio of Patrick Industries Inc is 0.70 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Patrick Industries Inc (PATK)?
Earnings per share at Patrick Industries Inc are $3.86 (price ÷ EPS = P/E 20.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Patrick Industries Inc (PATK)?
The dividend yield of Patrick Industries Inc is 0.6% (payout 10.5%, on adjusted earnings, reported 12.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Patrick Industries Inc (PATK)?
The net margin of Patrick Industries Inc is 3.4% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Patrick Industries Inc (PATK)?
The return on equity (ROE) of Patrick Industries Inc is 11.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Patrick Industries Inc (PATK)?
On an EBIT basis the return on assets of Patrick Industries Inc is 11.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Patrick Industries Inc (PATK)?
The operating margin of Patrick Industries Inc is 5.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast are earnings growing at Patrick Industries Inc (PATK)?
Earnings per share at Patrick Industries Inc are growing −36.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Patrick Industries Inc (PATK) carry?
The net debt of Patrick Industries Inc is $1.6B (fiscal year 2025, ≈ 6.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 9, 2026