Patria Investments (PAX) Stock Overview
Operates as a private market investment firm. More details
| Snowflake Score | |
|---|---|
| Valuation | 3/6 |
| Future Growth | 4/6 |
| Past Performance | 1/6 |
| Financial Health | 4/6 |
| Dividends | 3/6 |
PAX Community Fair Values
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Analyst Price Targets
Patria Investments Limited Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$10.91 |
| 52 Week High | US$17.80 |
| 52 Week Low | US$10.56 |
| Beta | 0.74 |
| 1 Month Change | -5.54% |
| 3 Month Change | -12.02% |
| 1 Year Change | -18.64% |
| 3 Year Change | -30.06% |
| 5 Year Change | -29.57% |
| Change since IPO | -45.18% |
Recent News & Updates
Narrative Update • Jul 10
PAX: Secondary Fund Commitments And Fee-Paying AUM Plan Will Support Upside
Analysts have reduced their average price target on Patria Investments from about $17 to roughly $15.57, citing updated models that reflect recent revisions to growth, profitability and valuation assumptions, including cuts to targets such as $16 to $15 and a further $2 reduction from other coverage. Analyst Commentary Recent Street research on Patria Investments gives you a mixed picture, with updated models leading to lower price targets but not wholesale changes in fundamental views.
Narrative Update • Jun 26
PAX: Revised Outlook Balances Reduced Price Expectations With Higher Margin Assumptions
Patria Investments' analyst price target is updated from $13.50 to $12.00 as analysts adjust their models to reflect revised assumptions for revenue growth, profit margins, discount rates, and future P/E multiples, informed by recent sector research and price target changes from major banks. Analyst Commentary on Patria Investments Recent research commentary on Patria Investments highlights a series of price target cuts that line up with the updated US$12.00 analyst target, reinforcing a more cautious stance on the stock's risk and reward profile.Recent updates
Narrative Update • Jul 10
PAX: Secondary Fund Commitments And Fee-Paying AUM Plan Will Support Upside
Analysts have reduced their average price target on Patria Investments from about $17 to roughly $15.57, citing updated models that reflect recent revisions to growth, profitability and valuation assumptions, including cuts to targets such as $16 to $15 and a further $2 reduction from other coverage. Analyst Commentary Recent Street research on Patria Investments gives you a mixed picture, with updated models leading to lower price targets but not wholesale changes in fundamental views.Narrative Update • Jun 26
PAX: Revised Outlook Balances Reduced Price Expectations With Higher Margin Assumptions
Patria Investments' analyst price target is updated from $13.50 to $12.00 as analysts adjust their models to reflect revised assumptions for revenue growth, profit margins, discount rates, and future P/E multiples, informed by recent sector research and price target changes from major banks. Analyst Commentary on Patria Investments Recent research commentary on Patria Investments highlights a series of price target cuts that line up with the updated US$12.00 analyst target, reinforcing a more cautious stance on the stock's risk and reward profile.Seeking Alpha • Jun 01
Patria Investments: The Discount Has Become Too Large To Ignore (Upgrade)
Summary Patria Investments is upgraded to Strong Buy as its robust organic and M&A-driven growth contrasts the recent drop in price. PAX delivered a 19% YoY increase in fee-related earnings and a 31% rise in fee-earning AUM, reaffirming 2026–2027 FRE targets. A dividend hike to $0.1625/quarter (~5.6% yield) remains well covered by their distributable earnings, with room for future growth. Macro headwinds and regional risks remain, but current valuation implies an unjustified discount or severe growth downgrade. Read the full article on Seeking Alpha
New Narrative • May 09
Brazilian Private Credit And REIT Expansion Will Transform This Alternatives Platform
Catalysts About Patria Investments Patria Investments is an alternative asset manager focused on private markets across Latin America and selected global geographies. What are the underlying business or industry changes driving this perspective?New Narrative • Apr 14
Private Markets Expansion Will Support Stable Fees But Credit And Integration Risks Will Persist
Catalysts About Patria Investments Patria Investments is an alternative asset manager focused on private markets strategies across infrastructure, credit, real estate, private equity and multi-manager solutions, with a large portion of assets in long duration and permanent capital vehicles. What are the underlying business or industry changes driving this perspective?Narrative Update • Apr 08
PAX: Acquisition Pipeline And Fee-Paying AUM Plan Will Support Upside
Analysts have trimmed their price target for Patria Investments by $1 to reflect slightly lower fair value assumptions and a modestly reduced future P/E, while keeping core growth and margin expectations essentially unchanged. Analyst Commentary Bullish Takeaways Bullish analysts who recently lifted their price target highlight confidence that Patria can support higher valuation multiples over time, even with current fair value tweaks elsewhere in the coverage.
Narrative Update • Apr 07
Patria Investments Limited – Completion of WP Global Partners Acquisition Strengthens U.S. Private Equity Platform
Author: Qudus Adebara (Founder of Wane Investment House) Patria Investments Limited has confirmed the completion of its acquisition of WP Global Partners , marking a significant milestone in the firm’s global expansion strategy and strengthening its foothold in the U.S. middle-market private equity segment. Transaction Overview Acquirer: Patria Investments Limited Target: WP Global Partners Sector: Private Equity Solutions (Lower-Middle Market) Geography: United States (New York & Chicago) Transaction Status: Completed Integration Plan: Full integration into Patria’s platform Strategic Platform Expansion The acquisition enhances Patria’s Global Private Markets Solutions (GPMS) division by: Expanding U.S. middle-market exposure Strengthening co-investment and primary fund capabilities Broadening General Partner (GP) relationships Deepening client reach across institutional investors Financial Impact Pro-forma GPMS FEAUM (4Q25): > $13.6 billion U.S. Exposure: ~40% of total investments This reflects a material scale-up in Patria’s global private equity solutions platform and reinforces its positioning as a diversified global alternatives manager.Narrative Update • Mar 25
PAX: Acquisition Pipeline And AUM Deals Will Support Longer Term Upside Potential
Analysts now see a modestly higher blended price target for Patria Investments, shaped by recent moves that included a $1 trim from BofA and a $2 lift from Goldman Sachs. The updated view is anchored by relatively steady fair value, discount rate, revenue growth, profit margin, and future P/E assumptions.Narrative Update • Mar 11
PAX: Acquisition Pipeline And CFO Transition Will Support Longer Term Upside Potential
Analysts have recently adjusted their price targets on Patria Investments in a mixed way, with one cut of $1 and another increase of $2. These changes reflect updated views on the stock while keeping key assumptions, such as fair value, discount rate, revenue growth, profit margin, and future P/E, essentially unchanged.Narrative Update • Feb 23
PAX: Acquisition Plans And CFO Transition Will Shape Bullish Longer Term Outlook
Analysts have trimmed their average price target on Patria Investments by about $0.43 as they factor in slightly lower fair value estimates, modestly softer revenue growth and profit margin assumptions, and a somewhat higher future P/E multiple. Analyst Commentary Recent research updates on Patria Investments point to a mixed but generally engaged view from the analyst community, with one firm trimming its target and another lifting it.Analysis Article • Feb 06
Patria Investments (NASDAQ:PAX) Has Announced A Dividend Of $0.15
Patria Investments Limited ( NASDAQ:PAX ) has announced that it will pay a dividend of $0.15 per share on the 12th of...Narrative Update • Feb 06
PAX: Updated Earnings Framework And CFO Transition Will Support Bullish Outlook
Analysts have raised their price target on Patria Investments to approximately US$17.71 from about US$17.14, citing updated assumptions for revenue growth, profit margins, and a lower expected P/E multiple. Analyst Commentary Bullish Takeaways Bullish analysts view the higher price target, now near US$17.71, as reflecting more confidence in Patria Investments' ability to execute on its updated revenue and margin assumptions.Narrative Update • Jan 22
PAX: Future CFO Transition And Refined Assumptions Will Support Balanced Outlook
Analysts now estimate fair value for Patria Investments at approximately US$17.14 per share, up from about US$16.57, citing updated assumptions for revenue growth, profit margins, and a slightly lower future P/E multiple that together support a modestly higher price target. What's in the News Patria Investments Limited plans a CFO transition, with partner and CFO of Portfolio Management Raphael Denadai set to become Chief Financial Officer in April 2026, moving from his current role overseeing finance functions across Private Equity and Infrastructure portfolios (Key Developments).Narrative Update • Jan 08
PAX: Future CFO Transition And Stable Earnings Multiple Will Support Balanced Outlook
Analysts have maintained their fair value estimate for Patria Investments at approximately US$16.57 per share. They explained that only very small adjustments to inputs such as the discount rate, revenue growth, profit margin and future P/E assumptions did not justify a change in the price target.Narrative Update • Dec 25
PAX: Future Leadership Transition And Earnings Multiple Will Shape Balanced Outlook
Analysts have modestly raised their price target for Patria Investments to reflect slightly lower perceived risk and a richer future earnings multiple, lifting the implied fair value by approximately $0.00 per share. What's in the News Patria Investments announced that Partner and CFO of Portfolio Management, Raphael Denadai, will become the company’s Chief Financial Officer effective April 2026, adding him to the Management Committee and placing him in a direct reporting line to CEO Nikitas Psyllakis (Key Developments).Narrative Update • Dec 10
PAX: Future Profit Margins And Earnings Multiples Will Shape Balanced Outlook
Analysts have modestly raised their price target on Patria Investments to approximately $16.57 from $16.17, citing higher projected revenue growth, a sharply improved profit margin profile, a slightly lower discount rate, and a normalization of future valuation multiples. Valuation Changes Fair Value Estimate has risen slightly from $16.17 to $16.57 per share, reflecting a modest upward revision in intrinsic valuation.Analysis Article • Sep 24
Patria Investments Limited's (NASDAQ:PAX) Share Price Not Quite Adding Up
When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") below 19x, you may...Narrative Update • Sep 20
Global Capital Shifts Will Expand Alternative Asset Markets
With both the discount rate and future P/E showing only marginal movements, Patria Investments’ consensus analyst price target was maintained at $16.17, reflecting no material change in valuation outlook. What's in the News Patria Investments authorized a buyback program for up to 3,000,000 Class A common shares, to continue until the repurchase is completed or August 2026.Analysis Article • Apr 07
Patria Investments Limited (NASDAQ:PAX) Not Flying Under The Radar
With a price-to-earnings (or "P/E") ratio of 21.5x Patria Investments Limited ( NASDAQ:PAX ) may be sending bearish...Seeking Alpha • Mar 21
Patria Investments: A Taste Of Latin America In Your Portfolio, With Sizzling Profit Margins
Summary Patria Investments gets a strong buy rating today, agreeing with the Seeking Alpha analyst consensus, but disagreeing with the quant system. The firm has seen new client money inflows recently and a major business acquisition, which could continue driving growth of its fee-driven diversified Latin America portfolio. Some macro forecasts for the LatAm region are favorable, and the firm has proven itself in above-average profit margins and cashflow growth. The above average dividend yield topping 5%, and share price trending near 5-year lows, could appeal to some dividend investors. A potential risk is regional overconcentration, and actual future economic outcomes for the LatAm region vs positive forecasts. Read the full article on Seeking AlphaSeeking Alpha • Dec 16
Patria Investments: Don't Miss Out Here
Summary We deem Patria Investments Limited a "buy-the-dip" opportunity on the basis of resilient AUM growth, a well-balanced fund structure, margin expansion potential, and telling valuation metrics. The company's Latin America-centric approach can provide valuable diversification and growth benefits to investors. Despite being concerned by its recent earnings misses, we see tremendous value in Patria, which is echoed by its relative value and 4%+ forward dividend yield. Key risks include geopolitical instability in Latin America and the integration challenges surrounding the GPMS acquisition. Read the full article on Seeking AlphaSeeking Alpha • Dec 02
Patria Investments: I'm Loving This 'Dirt Cheap' Latin American Version Of Blackstone
Summary Blackstone has been an exceptional investment, returning 880% since 2014, but its shares are now extremely rich, prompting consideration of trimming the position. Patria Investments offers similar growth potential as Blackstone, with a projected 2025 EPS growth higher than U.S. peers and a cheaper valuation. PAX's diversified asset management in Latin America presents currency and political risks, but it has shown strong performance and growth in AUM across various asset classes. Considering PAX's attractive valuation and 6.8% dividend yield, I’m contemplating reallocating funds from Blackstone to PAX, pending a management meeting in early 2025. Read the full article on Seeking AlphaSeeking Alpha • Nov 13
Patria Investments' Q3: Strong Fundraising And Attractive Valuation
Summary Patria Investments has heavily underperformed global peers in the private capital industry, dropping -20.25% YTD. Q3 demonstrated strong organic fundraising of $2 billion, with most coming from their global segment, which had a substantial part of those inflows arriving from Brazilian investors wanting to invest abroad. Although the company had a yearly margin reduction based on fee-related earnings, at a 12x price-to-FRE, the stock valuation looks too attractive to ignore. Read the full article on Seeking AlphaSeeking Alpha • Oct 14
Patria Investments: The Alternatives King Of Latin America
Summary Alternative investment firms like Blackstone, Brookfield, Apollo, and KKR excel by managing third-party funds, creating billionaire founders. Patria Investments is emerging as a leader in South America, rapidly growing AUM through M&A and fundraising. Despite impressive growth, Patria's share price has declined since its 2021 IPO, which is unwarranted given its flourishing business. PAX is a strong buy due to its robust business model and market position. Read the full article on Seeking Alpha
New Narrative • Sep 12
Tactical Acquisitions And Share Repurchase Program Set To Elevate Earnings And Shareholder Value
Strategic shifts, including share repurchases and capital management updates, aim to enhance shareholder value and support EPS growth.Seeking Alpha • Aug 10
My Favorite Dividend Stock: Patria Investments
Summary Patria is replicating Blackstone's business model, but it's far cheaper. It has recently also become the largest REIT asset manager in Brazil. High yield, high growth, and significant upside. What's not to like? Read the full article on Seeking AlphaAnalysis Article • Aug 04
Patria Investments Limited Just Missed Earnings - But Analysts Have Updated Their Models
It's been a sad week for Patria Investments Limited ( NASDAQ:PAX ), who've watched their investment drop 12% to...Seeking Alpha • May 29
Patria Investments: Stock Multiples At Historic Lows, Potential 7.87% Yield
Summary Patria has conducted a series of acquisitions that has more than doubled its AUM over the last three years at $32 billion. Weak stock price performance has resulted in a -16% YTD stock decline, bringing PAX stock price and PE multiple to a previous support level. Given its solid product offering and reputation within LATAM, buying this asset manager at its lows makes sense, especially since the elevated dividend could serve as to cover stock drops. Read the full article on Seeking AlphaSeeking Alpha • May 06
Patria Investments: How To Play The Drop On Q1 Earnings
Summary Patria Investments is a 'best in class' Asset Manager with a leadership position in Latin America. PAX has grown quickly and profitably - more to come. PAX offered value before earnings, but a post earnings drop creates opportunity. Read the full article on Seeking AlphaSeeking Alpha • Apr 19
Patria Investments: Go Local In LatAm
Summary Patria is a global alternative asset manager with a strong reputation in Latin America and $31.8 billion in assets under management, set to grow to $50bn in 2024. The company has had a 30% CAGR growth in assets under management despite challenging economic conditions in the region. Patria's IRR performance has outperformed global peers. The market is mispricing this business at a forward PE of 9% and an 8% dividend. Read the full article on Seeking AlphaShareholder Returns
| PAX | US Capital Markets | US Market | |
|---|---|---|---|
| 7D | -2.2% | 0.1% | 0.1% |
| 1Y | -18.6% | 2.8% | 20.3% |
Return vs Industry: PAX underperformed the US Capital Markets industry which returned 2.8% over the past year.
Return vs Market: PAX underperformed the US Market which returned 20.3% over the past year.
Price Volatility
| PAX volatility | |
|---|---|
| PAX Average Weekly Movement | 4.6% |
| Capital Markets Industry Average Movement | 3.9% |
| Market Average Movement | 7.3% |
| 10% most volatile stocks in US Market | 16.7% |
| 10% least volatile stocks in US Market | 3.2% |
Stable Share Price: PAX has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: PAX's weekly volatility (5%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1994 | 548 | Alexandre de Assumpcao Saigh | www.patria.com |
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. 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.
Patria Investments Limited Fundamentals Summary
| PAX fundamental statistics | |
|---|---|
| Market cap | US$1.78b |
| Earnings (TTM) | US$72.25m |
| Revenue (TTM) | US$399.23m |
24.4x
P/E Ratio4.4x
P/S RatioIs PAX overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| PAX income statement (TTM) | |
|---|---|
| Revenue | US$399.23m |
| Cost of Revenue | US$167.38m |
| Gross Profit | US$231.85m |
| Other Expenses | US$159.60m |
| Earnings | US$72.25m |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 0.45 |
| Gross Margin | 58.07% |
| Net Profit Margin | 18.10% |
| Debt/Equity Ratio | 41.0% |
How did PAX perform over the long term?
See historical performance and comparisonDividends
6.0%
Current Dividend Yield132%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/13 21:35 |
| End of Day Share Price | 2026/07/13 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Patria Investments Limited is covered by 9 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Nicolas Vaysselier | BNP Paribas |
| Arnaud Maurice Giblat | BNP Paribas |
| Craig Siegenthaler | BofA Global Research |