Patria Investments Ltd (PAX) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Patria Investments Ltd stock $14.28, price $9.50, upside +50.3%, quality 66 out of 100. Rating: strongly undervalued. Calculated from audited financials with 11 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 4, 2026.
How to read this chart
60‑month range $9.00 – $16.91 · fair‑value band $5.23 – $23.04 · the $9.50 price screens below the $14.28 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Patria Investments Limited operates as a private market investment firm. It specializes in investments in private equity, secondary direct and indirect and venture capital with focus in middle market, buyout and growth capital investments.
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It seeks to be sector agnostic with focus on agribusiness, power & energy, healthcare, logistics & transportations, food & beverage, agricultural products, packaged foods and meats, education services, outsourced business services, and digital & tech services.
It prefers to invest globally with focus on Latin America, Europe, United States, North America and Brazil. It seeks to invest between $38.48 million and $72.14 million per transaction. The firm seeks a majority or minority stake in its portfolio companies.
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. The firm seeks to co-invest with other investors.
Patria Investments Limited was founded in 1994 and is headquartered in Grand Cayman, Cayman Islands with additional offices across South America, North America, Europe and Asia. Patria Investments Limited operates as a subsidiary of Patria Holdings Limited.
Stock analysis
Patria Investments Ltd (PAX) currently trades at $9.50, while our model-based Fair Value estimate is $14.28, implying the stock looks roughly 33% undervalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of $16.42 per share, and 7 of the 11 models we run sit above the $9.50 price.
Bear case: the Economic Profit group reads lowest at $4.16, and 4 of the 11 models stay below the price. Data coverage for this calculation is high.
Scenario range: $5.23 (bear) to $23.04 (bull), the price of $9.50 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 66/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Patria Investments Ltd reported revenue of $384M in FY2025 versus $236M in FY2021, a compound +13.0%/yr. Reported net income was $85.6M in FY2025, compounding −8.6%/yr from FY2021.
Key figures
Market cap $1.5B Small · P/E ratio 21.8 · P/S ratio 3.54 · EPS (TTM) $0.4300 · Dividend yield 6.5% · Net margin 16.4% · Return on equity 12.9% · Return on assets (EBIT) 14.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 67 out of 100 (low confidence).
What moves the price
The share trades about 44% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at 50%, PAX screens cheaper than that median.
Fair Value models
Bear$5.23Fair Value $14.28Bull$23.04
Price $9.50 · Upside +50.3%
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.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 $2.7M, on Jun 5, 2026. Over the same period, one person sold shares worth $79,075.
SaleMarco Nicola D'IppolitoCEO of Global Private Markets14,504 shares at $11.43$165,775Aug 6, 2026
BuyOlimpio Matarazzo NetoDirector5× since May 15, 2026: 235,000 shares, avg. $11.35$2.7MJun 5, 2026
Plus 2 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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+2.6%
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.
+14.0%
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.
+27.3%
Start year 2020 (pandemic)
Revenue growth 7 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.
+20.2%
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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.
+10.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+4.3%
Dividend (yield on the price)6.5%
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.58% → 34%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less 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).
−9.0%
The company could shrink this much every year for the next five years and today's price would still be justified.
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.
+8.9%
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 −11.1% a year for the price and +6.4% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (97 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.
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.Asset Management · 587 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score66 · Above median
Fair Value upside+50.3% · Above median
Profitability
Return on equity (12 months)12.9% · Above median
Return on assets5.7% · Above median
Net margin (12 months)16.4% · Below median
Operating margin (12 months)28.6% · Below median
Growth and dividend
Revenue growth (quarter YoY)34.9% · Top 25%
Dividend yield (12 months)6.5% · Above median
Balance sheet
Debt / equity0.29× · Above median
Valuation Multiplesvs Asset Management median · lower = cheaper
P/E (12 months)21.8× · Pricier than median
P/B2.48× · 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.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Patria Investments Ltd (PAX) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of $14.28 versus a price of $9.50, about +50% upside (undervalued).
What is the fair value of PAX?
Our model-based fair value for Patria Investments Ltd is $14.28 (as of Nov 4, 2026), built from audited fundamentals. The current price: $9.50.
What is the quality score of PAX?
Patria Investments Ltd has a Quality Score of 66/100. 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 Patria Investments Ltd (PAX)?
Our model-based price target is the fair value of $14.28 (as of Nov 4, 2026) from 11 valuation models. Cautious scenario $5.23, optimistic scenario $23.04. It is a calculation from audited fundamentals, not an analyst target.
What is the Patria Investments Ltd stock forecast for 2026?
Our models put fair value at $14.28, about +50% upside versus a price of $9.50 (undervalued). Cautious scenario $5.23, optimistic scenario $23.04. The calculation is refreshed regularly with new filings.
What is the revenue of Patria Investments Ltd (PAX)?
Patria Investments Ltd reported trailing-twelve-month revenue of about $428M (latest available figure, as of Nov 4, 2026).
Does Patria Investments Ltd pay a dividend?
Patria Investments Ltd currently shows a dividend yield of 6.47% relative to its recent price (as of Nov 4, 2026).
How much is the dividend of Patria Investments Ltd (PAX) and when is the ex-dividend date?
Patria Investments Ltd pays a dividend of $0.615 per share a year, a dividend yield of 6.5%. The last ex-dividend date was Aug 10, 2026. A dividend has been paid every year since at least 2021. The payout ratio is 135% of earnings (on adjusted earnings, reported 143%). Free cash flow covers the dividend 6.04 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Patria Investments Ltd (PAX)?
For today's price to be fair in a discounted-cash-flow model, Patria Investments Ltd would have to grow free cash flow by -9.0 % per year for five years (discount rate 10.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +27.3 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of PAX use?
Our models discount Patria Investments Ltd at 10.7 %: a base by market capitalisation (small), damped by beta 0.79, 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 Patria Investments Ltd that is -9.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.7 %) and the same formula as our fair value.
How much growth has Patria Investments Ltd (PAX) delivered so far?
Over the past 5 years revenue at Patria Investments Ltd grew +27.3 % a year. The price currently implies free-cash-flow growth of -9.0 % 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 Patria Investments Ltd (PAX) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Patria Investments Ltd (-9.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Patria Investments Ltd (PAX)?
The free-cash-flow yield on the price is 17.04 %: that much free cash flow Patria Investments Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Patria Investments Ltd (PAX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Patria Investments Ltd it is $14.28 per share (as of Nov 4, 2026), against a price of $9.50. It is the blended result of 11 valuation models in 6 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit).
Is Patria Investments Ltd stock overvalued or undervalued in 2026?
As of Nov 4, 2026, PAX trades below its calculated fair value: price $9.50, fair value $14.28, a gap of about +50% (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 PAX?
No. The price is what the market pays today ($9.50); the fair value is what the company's own numbers justify ($14.28). For Patria Investments Ltd the two are $4.78 per share apart. That gap is exactly why we show both numbers side by side.
How much is Patria Investments Ltd worth?
The market values Patria Investments Ltd at about $1.5B (market capitalisation, as of Nov 4, 2026). Per share that is $9.50; our models calculate a fair value of $14.28 per share.
What do the bullish and bearish scenarios say about PAX?
Our models span a range for Patria Investments Ltd: cautious scenario $5.23, base $14.28, optimistic $23.04 per share (as of Nov 4, 2026, price $9.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PAX?
Patria Investments Ltd trades at a price-to-earnings ratio of 21.8 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $14.28 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 16.7 (reported for FY2025: 17.6). Median P/E at fiscal year-end, 5 fiscal years (2021 to 2025), reported earnings, FY2024, FY2025 ex one-offs: 19.9. Other multiples: P/B 2.5, P/S 3.5, EV/EBITDA 8.6.
How solid is the balance sheet of Patria Investments Ltd (PAX)?
Balance-sheet figures for Patria Investments Ltd (as of Nov 4, 2026): return on equity 12.9%, debt of 0.29 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is PAX from its 52-week high?
Patria Investments Ltd trades at $9.50, about 44% below its 52-week high of $16.91 and 3% above the low of $9.18 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $14.28 is for.
Which stocks are comparable to Patria Investments Ltd?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Asset Management Ltd, KKR & Co, Apollo Global Management, 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 Patria Investments Ltd stock attractive at the current price?
The data as of Nov 4, 2026: price $9.50, calculated fair value $14.28 (+50%), Quality Score 66/100, from 11 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 PAX calculated?
We run Patria Investments Ltd through 11 models from 6 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of $14.28 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. Patria Investments Ltd currently trades 33% 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 Patria Investments Ltd (PAX)?
The closing price on Nov 6, 2026 was $9.50. Our model-based fair value is $14.28, about +50% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Patria Investments Ltd right now?
The model range is unusually wide ($5.23 to $23.04). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Patria Investments Ltd
How large is the market capitalisation of Patria Investments Ltd (PAX)?
The market capitalisation of Patria Investments Ltd is $1.5B. 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 Patria Investments Ltd (PAX)?
The price-to-sales ratio of Patria Investments Ltd is 3.54 (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 Patria Investments Ltd (PAX)?
Earnings per share at Patria Investments Ltd are $0.4300 (price ÷ EPS = P/E 21.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Patria Investments Ltd (PAX)?
The dividend yield of Patria Investments Ltd is 6.5% (payout 135%, on adjusted earnings, reported 143%). 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 Patria Investments Ltd (PAX)?
The net margin of Patria Investments Ltd is 16.4% (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 Patria Investments Ltd (PAX)?
The return on equity (ROE) of Patria Investments Ltd is 12.9% (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 Patria Investments Ltd (PAX)?
On an EBIT basis the return on assets of Patria Investments Ltd is 14.0% (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 Patria Investments Ltd (PAX)?
The operating margin of Patria Investments Ltd is 28.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Patria Investments Ltd (PAX)?
Revenue at Patria Investments Ltd is growing +34.9% versus a year earlier (3y avg +14.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Patria Investments Ltd (PAX)?
Earnings per share at Patria Investments Ltd are growing −18.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Patria Investments Ltd (PAX) carry?
The net debt of Patria Investments Ltd is $145M (fiscal year 2025, ≈ 0.6 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 4, 2026