Patrick Industries

PATK

Furnishings, Fixtures & Appliances · Consumer Cyclical

Price

$88.09

-0.16 (-0.18%)

Market Cap

$2.90B

Exchange

NASDAQ

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Share count rising — dilution

+48.3% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 23.4M (2021) → 34.6M (2025)

Patrick Industries, Inc. manufactures and distributes components, building products, and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States, China, and Canada. Its Manufacturing segment manufactures and sells furniture, shelving, wall, countertop, and cabinet product; cabinet door, fiberglass bath fixture, and tile system; hardwood furniture, vinyl printing, amplifiers, tower speakers, soundbars, and subwoofers; solid surface, granit

Winston Score History

Politician Trades

2 trades / 12mo

1 Congressional buy and 1 sell on PATK in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-0.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+3.4% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

4.3%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~3 months

$37M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Patrick Industries has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

20.3%

Thin — 20.3% gross margin

Operating Margin

6.5%

Modest — 6.5% operating margin

ROCE

4.6%

Weak — 4.6% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+4.2%

Slow sales growth (4.2% YoY)

EPS YoY

-3.2%

Earnings shrinking (-3.2% YoY)

Slight earnings drop. Typical near a cyclical low.

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

202%

Turns 202% of profit into real cash

FCF Margin

4.9%

Thin free cash flow (4.9%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.19

Conservative — low debt load (0.19)

Interest Cover

3.73x

Tight — interest eats into profit (3.7x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)

21.0x

Growth-priced — P/E 21.0

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+3.1

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (21.0 → 17.8)

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Dividends

Dividend Yield

2.08%

Moderate income — 2.08% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

-7.2%

Dividend cut (-7.2% YoY) — warning sign

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