Patrick Industries
Manufactures and distributes components for RV, marine, powersports, manufactured housing and industrial markets.
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Profile
Manufactures and distributes interior, structural, electrical, audio and building components for RV, marine, powersports, manufactured-housing and industrial OEMs. A mostly U.S. production network serves nearby customers, with RV as the largest end market and results tied to OEM output and discretionary demand.
Manufactures and distributes components for recreational vehicles, boats, powersports equipment, manufactured housing and industrial construction. Its two reportable segments, Manufacturing and Distribution, span laminated panels, cabinetry, countertops, electrical and plumbing systems, marine structures, audio equipment, protective covers and building materials. A mostly U.S. plant and warehouse network sits near OEM customers, shortening delivery routes and supporting integrated design-to-delivery service.
RV manufacturers form the largest end market, while marine, powersports, manufactured housing and industrial customers broaden demand. Growth has combined product development with acquisitions whose brands retain specialized market expertise. Results remain tied to OEM production, dealer inventories and discretionary purchases, with meaningful sales concentration among major customers. An all-stock merger with Lippert is pending shareholder and regulatory approvals; the businesses remain separate until closing.
Company facts
Key statistics
Year to date −24.5% · Average volume (30d) 473.3K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 10, 2026 | Truist Financial | Target | $113 | $108 | |
| Jul 31, 2026 | Roth Capital | Target | $128 | $114 | |
| Jul 31, 2026 | Raymond James | Reiterate | Outperform | $108 | $94 |
| Jul 31, 2026 | D.A. Davidson | Target | $114 | $85 | |
| Jul 31, 2026 | Exane BNP Paribas | Downgrade | Neutral |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $1.24 | $1.29 | +4.0% | $994.9M | $1.04B | +4.7% | −3.02% |
| Apr 30, 2026Q1 FY26 | $1.08 | $1.10 | +1.9% | $989.1M | $997.2M | +0.8% | −4.37% |
| Feb 5, 2026Q4 FY25 | $0.74 | $0.84 | +13.5% | $859.6M | $924.2M | +7.5% | +0.18% |
| Oct 30, 2025Q3 FY25 | $0.95 | $1.01 | +6.3% | $858.6M | $975.6M | +13.6% | +3.51% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.00B | $1.05B | $975.6M | $924.2M | $997.2M | $1.04B | |
| Gross profit | $228.6M | $250.6M | $221.0M | $212.7M | $226.9M | $247.6M | |
| Operating income | $65.6M | $86.7M | $66.3M | $57.4M | $64.7M | $77.0M | |
| Net income | $38.2M | $32.4M | $35.3M | $29.1M | $39.5M | $43.4M | |
| Diluted EPS | $1.11 | $0.96 | $1.01 | $0.83 | $1.10 | $1.27 | |
| Gross margin | 22.8% | 23.9% | 22.6% | 23.0% | 22.8% | 23.8% | |
| Operating margin | 6.5% | 8.3% | 6.8% | 6.2% | 6.5% | 7.4% |
Fiscal years (4-quarter sums)FY21 $4.08B · FY22 $4.88B · FY23 $3.47B · FY24 $3.72B · FY25 $3.95B
Revenue by product · Q2 FY26
Balance sheet, Jun 28, 2026Cash & short-term investments $29.2M · Total debt $1.65B · Total assets $3.21B · Shareholders' equity $1.13B
Dividends
Raised for 6 straight years — most recently to $0.47 from $0.40 in Dec 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 24, 2026 | Aug 24 | Sep 8 | $0.47 | |
| May 26, 2026 | May 26 | Jun 8 | $0.47 | |
| Feb 23, 2026 | Feb 23 | Mar 9 | $0.47 | |
| Dec 1, 2025 | Dec 1 | Dec 15 | $0.47 | raised from $0.40 |
| Aug 25, 2025 | Aug 25 | Sep 8 | $0.40 | |
| May 27, 2025 | May 27 | Jun 9 | $0.40 | |
| Feb 18, 2025 | Feb 18 | Mar 3 | $0.40 | |
| Nov 25, 2024 | Nov 25 | Dec 9 | $0.60 | raised from $0.55 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 32.90M · Float 31.51M · 95.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 5.00M | 15.21% | 13F | Aug 7, 2026 |
| FMR LLC | 4.31M | 13.11% | 13F | Aug 13, 2026 |
| Wellington Management Group LLP | 1.62M | 4.94% | 13F | Aug 14, 2026 |
| Dimensional Fund Advisors LP | 1.49M | 4.54% | 13F | Aug 11, 2026 |
| Vanguard Capital Management LLC | 1.43M | 4.34% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 6, 2026 | Jacob R. Petkovich | officer: President - Marine | +1,300 | $95.57 |
| Jun 10, 2026 | M. Scott Welch | director | +100 | $83.85 |
| May 19, 2026 | M. Scott Welch | director | +100 | $89.44 |
| May 5, 2026 | Charles R. Roeder | officer: President - RV | +5,750 | $87.83 |
| May 5, 2026 | Matthew S. Filer | other: EVP Finance, CFO & Treasurer | +1,000 | $85.50 |
Peers
- LCI Industries
Dominant RV and MH component supplier across most of the same OEM relationships.
- Brunswick
Marine industry leader; aftermarket P&A arm competes in dealer/retail hardware.
- UFP Industries
Manufactures wood panels, trusses, and interior components for MH and RV OEMs.
- Camping World
Largest US RV dealer with nationwide aftermarket parts retail and e-commerce.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Patrick Industries | $82.51 | −1.07% | $2.75B | 19.8 | 17.5 | 0.7 | −0.6% |
| LCI Industries | $102.96 | −0.05% | $2.50B | 12.0 | 11.5 | 0.6 | −12.5% |
| Brunswick | $76.64 | −0.01% | $4.98B | — | 15.6 | 0.9 | +7.7% |
| UFP Industries | $86.01 | +0.03% | $4.86B | 19.8 | 16.9 | 0.8 | +2.6% |
| Camping World | $6.50 | −0.46% | $414.8M | — | 9.6 | 0.1 | −2.1% |
| Median | 15.9 | 13.5 | 0.7 | +0.2% |