PAX financial statements
The full income statement, balance sheet, and cash-flow statement for Patria Investments Limited (PAX), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 382M+2.0% | 374M+14.2% | 328M+26.6% | 259M+9.9% | 236M+104.8% | |
| Gross profit | — | — | — | — | 149M+81.8% | |
| Operating income | — | — | — | — | 122M+87.0% | |
| Interest expense | 39.7M+3.2% | 38.5M+261.0% | 10.7M+124.4% | 4.75M+222.2% | 1.48M+31.8% | |
| Pre-tax income | 92.3M+7.3% | 86.0M-27.1% | 118M+15.2% | 102M-15.7% | 122M+87.1% | |
| Income tax | 1.72M-83.3% | 10.3M+466.0% | -2.82M-133.7% | 8.35M+2091.3% | 381K-87.9% | |
| 90.5M+19.6% | 75.7M-37.4% | 121M+28.4% | 94.1M-22.4% | 121M+96.0% | ||
| Net income to common | 85.7M+19.2% | 71.9M-39.3% | 118M+27.4% | 93.0M-24.1% | 122M+96.9% | |
| $0.53+12.8% | $0.47-41.3% | $0.80+26.7% | $0.63-29.9% | $0.90+69.4% | ||
| EPS (basic) | $0.54+14.9% | $0.47-41.3% | $0.80+26.7% | $0.63-29.9% | $0.90+69.4% | |
| Weighted-avg shares (basic) | 160M+4.1% | 153M+3.4% | 148M+0.7% | 147M+8.3% | 136M+16.2% | |
| Weighted-avg shares (diluted) | 161M+4.4% | 154M+3.5% | 149M+1.0% | 147M+8.3% | 136M+16.2% | |
| Dividends per share | $0.60-31.0% | $0.87-11.2% | $0.98+39.6% | $0.70+7.0% | $0.66-8.9% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 405M+8.7% | 373M-7.2% | 402M-16.3% | 480M+36.1% | 352M+556.4% | ||
| Cash & equivalents | 53.6M+60.4% | 33.4M+108.2% | 16.1M-39.5% | 26.5M+73.7% | 15.3M+8.6% | |
| Accounts receivable | 119M-45.4% | 217M+70.5% | 127M+1.6% | 125M+29.1% | 97.1M+304.3% | |
| 1.50B+24.0% | 1.21B+19.2% | 1.01B+3.6% | 976M+28.2% | 761M+610.2% | ||
| Property, plant & equipment | 42.4M+29.9% | 32.6M+15.7% | 28.2M+14.4% | 24.6M+83.7% | 13.4M+251.1% | |
| Total non-current assets | 1.09B+30.8% | 833M+36.6% | 610M+22.8% | 497M+21.4% | 409M+664.1% | |
| 415M+4.4% | 397M-0.0% | 397M+17.6% | 338M+116.4% | 156M+254.7% | ||
| Short-term & current debt | 0.00-100.0% | 78.5M | — | — | — | |
| 862M+20.5% | 715M+45.9% | 490M+5.9% | 463M+134.9% | 197M+309.4% | ||
| Long-term debt | 175M+17.0% | 149M | — | — | — | |
| 612M+27.2% | 481M-11.3% | 542M-1.9% | 553M-2.0% | 564M+884.5% | ||
| Total equity incl. non-controlling | 633M+29.0% | 491M-5.8% | 521M+1.5% | 513M-9.0% | 564M+855.2% | |
| Common shares issued | 159M+3.8% | 154M+3.6% | 148M+0.7% | 147M+0.0% | 147M+25.8% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 283M+93.6% | 146M-6.9% | 157M+93.4% | 81.1M-24.6% | 108M+104.1% | ||
| Intangible amortization | 39.7M+29.2% | 30.7M+37.4% | 22.4M+28.7% | 17.4M+149.2% | 6.97M+16.1% | |
| Capital expenditure | 10.6M+192.9% | 3.60M-38.6% | 5.87M+7.9% | 5.44M+250.7% | 1.55M+851.5% | |
| Free cash flow | 272M+91.1% | 142M-5.6% | 151M+99.5% | 75.6M-28.7% | 106M+101.8% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt issued | 261M+0.1% | 261M+944.0% | 25.0M | 0.00 | 0.00 | |
| Long-term debt repaid | 313M+793.6% | 35.0M+40.0% | 25.0M | 0.00 | 0.00 | |
| Common stock issued | -71.7M+4.3% | -74.9M-582.8% | 15.5M | 0.00-100.0% | 510M | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 95.1M-28.1% | 132M-8.8% | 145M+40.5% | 103M-13.7% | 120M+42.3% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 2.53B+41.6% | 1.79B-21.6% | 2.28B+20.5% | 1.89B-14.0% | 2.20B | |
| P/E | 28.0×+18.3% | 23.7×-2.5% | 24.3×+55.2% | 15.6×-14.0% | 18.2× | |
| P/S | 6.6×+38.8% | 4.8×-45.8% | 8.8×+9.7% | 8.0×-14.0% | 9.4× | |
| P/B | 4.1×+11.3% | 3.7×-9.9% | 4.1×+23.1% | 3.4×-14.0% | 3.9× | |
| P/FCF | 9.3×-25.9% | 12.6×-58.4% | 30.2×+69.0% | 17.9×-14.0% | 20.8× | |
| Earnings yield | 3.6%-15.5% | 4.2%+2.6% | 4.1%-35.6% | 6.4%+16.3% | 5.5% | |
| FCF yield | 10.7%+35.0% | 8.0%+140.1% | 3.3%-40.8% | 5.6%+16.3% | 4.8% | |
| Dividend yield | 3.8%-49.5% | 7.5%+18.4% | 6.3%+25.4% | 5.0%+24.5% | 4.0% | |
| Source filing | 20-F | 20-F | 20-F/A | 20-F | 20-F |
About this data
Source: PAX’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all PAX filings on SEC EDGAR → Not investment advice.