Patrick Industries (PATK) financial statements
Patrick Industries reported revenue of $4.0B in fiscal 2025, up 13.9% a year over 9 years.
Net income was $135M and the operating margin 7.0%, against 7.4% in 2016.
Free cash flow was $246M, and the company returned $55M in dividends and $32M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Patrick Industries's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.2B | $1.6B | $2.3B | $2.3B | $2.5B | $4.1B | $4.9B | $3.5B | $3.7B | $4.0B |
| Cost of revenue | $1.0B | $1.4B | $1.8B | $1.9B | $2.0B | $3.3B | $3.8B | $2.7B | $2.9B | $3.0B |
| Gross profit | $202M | $279M | $416M | $423M | $459M | $801M | $1.1B | $782M | $836M | $913M |
| Selling, general and admin | $62M | $91M | $128M | $134M | $146M | $254M | $328M | $299M | $326M | $362M |
| Operating income | $91M | $122M | $178M | $154M | $173M | $352M | $496M | $260M | $258M | $276M |
| Pre-tax income | $84M | $113M | $152M | $118M | $130M | $294M | $435M | $191M | $179M | $177M |
| Income tax | $28M | $27M | $32M | $28M | $33M | $69M | $107M | $48M | $40M | $42M |
| Net income | $56M | $86M | $120M | $90M | $97M | $225M | $328M | $143M | $138M | $135M |
| EPS (diluted) | $1.62 | $2.32 | $3.29 | $2.57 | $2.80 | $6.42 | $8.99 | $4.33 | $4.11 | $3.90 |
| Diluted shares | 34M | 37M | 36M | 35M | 35M | 35M | 37M | 33M | 34M | 35M |
| Gross margin | 16.6% | 17.1% | 18.4% | 18.1% | 18.5% | 19.6% | 21.7% | 22.6% | 22.5% | 23.1% |
| Operating margin | 7.4% | 7.5% | 7.9% | 6.6% | 7.0% | 8.6% | 10.2% | 7.5% | 6.9% | 7.0% |
| Net margin | 4.5% | 5.2% | 5.3% | 3.8% | 3.9% | 5.5% | 6.7% | 4.1% | 3.7% | 3.4% |
Balance sheet
Fiscal years, from Patrick Industries's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $6M | $3M | $7M | $139M | $45M | $123M | $23M | $11M | $34M | $26M |
| Receivables | $38M | $78M | $82M | $88M | $133M | $172M | $173M | $164M | $178M | $185M |
| Inventory | $120M | $175M | $273M | $254M | $313M | $614M | $668M | $510M | $552M | $595M |
| Total current assets | $173M | $274M | $385M | $517M | $528M | $974M | $910M | $735M | $823M | $873M |
| Property, plant and equipment | $85M | $118M | $177M | $181M | $251M | $319M | $351M | $354M | $385M | $409M |
| Goodwill | $110M | $208M | $282M | $319M | $396M | $551M | $629M | $637M | $797M | $840M |
| Total assets | $535M | $867M | $1.2B | $1.5B | $1.8B | $2.7B | $2.8B | $2.6B | $3.0B | $3.1B |
| Total current liabilities | $86M | $136M | $158M | $187M | $227M | $433M | $367M | $308M | $354M | $348M |
| Long-term debt | $257M | $338M | $622M | $670M | $811M | $1.3B | $1.3B | $1.0B | $1.3B | $1.3B |
| Total liabilities | $350M | $496M | $822M | $974M | $1.2B | $1.9B | $1.8B | $1.5B | $1.9B | $1.9B |
| Shareholders' equity | $185M | $371M | $409M | $497M | $559M | $768M | $955M | $1.0B | $1.1B | $1.2B |
| Net debt | $266M | $351M | $624M | $536M | $774M | $1.2B | $1.3B | $1.0B | $1.3B | $1.3B |
Cash flow
Fiscal years, from Patrick Industries's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $97M | $100M | $200M | $192M | $160M | $252M | $412M | $409M | $327M | $329M |
| Capital spending | $15M | $22M | $34M | $28M | $32M | $65M | $80M | $59M | $76M | $83M |
| Free cash flow | $82M | $77M | $166M | $165M | $128M | $187M | $332M | $350M | $251M | $246M |
| Stock-based compensation | $6M | $10M | $14M | $15M | $16M | $23M | $22M | $19M | $17M | $19M |
| Dividends paid | — | — | $0 | $6M | $24M | $27M | $33M | $42M | $50M | $55M |
| Share buybacks (net) | -$5M | $0 | -$108M | -$4M | -$23M | -$49M | -$77M | -$19M | -$5M | -$32M |
| Net borrowing | $16M | -$16M | $29M | $1M | -$5M | -$7M | -$8M | -$8M | -$131M | -$6M |
| Free cash flow margin | 6.7% | 4.7% | 7.3% | 7.0% | 5.1% | 4.6% | 6.8% | 10.1% | 6.8% | 6.2% |
| Dividends per share | — | — | — | $0.17 | $0.68 | $0.77 | $0.90 | $1.28 | $1.49 | $1.60 |
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Open PATK in InvestinglyQuestions
What was Patrick Industries's revenue in 2025?
$4.0B in fiscal 2025, from its 10-K filing.
How much free cash flow does Patrick Industries generate?
$246M in fiscal 2025 (operating cash flow minus capital spending).
From Patrick Industries's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.