Patria Investments Limited (PAX) Stock Analysis
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Patria Investments Limited (PAX) trades at $11.52 with AI Score 52/100 (Grade B). Patria Investments Limited is a leading private market investment firm focused on Latin America. Market cap: $1.86B, Sector: Financial services.
Price as of Aug 21, 2026 · Last analyzed: May 10, 2026PAX stock analysis for 2026: Analysts have set a consensus price target of $20.00 for Patria Investments Limited, suggesting 73.7% upside from the current price of $11.52. The AI MoonshotScore is 52/100, indicating a neutral outlook. Key factors: analyst coverage, AI-driven quantitative scoring.
PAX: 1/3 scored disciplines lean bullish. Dominant signal: Ray Dalio bullish.
How is this calculated? →Why this analysis is different
- A 9-signal quantitative MoonshotScore built from filings, insider activity, and market data — computed from the numbers, not from opinion.
- An AI Council read across up to eight perspectives — value, macro, quantitative, and momentum lenses — that shows where they disagree instead of averaging the tension away.
- Figures come straight from FMP and Yahoo Finance filings data. The AI writes the narrative around the numbers — it never edits the numbers.
Patria Investments Limited (PAX) Financial Services Profile
Patria Investments Limited, established in 1994, is a prominent private market investment firm specializing in Latin America. With a focus on private equity, infrastructure, real estate, and credit funds, Patria offers asset management services, distinguishing itself through a deep regional expertise and a diverse investment portfolio, boasting a solid 22.3% profit margin.
What Is the Investment Thesis for PAX?
Patria Investments Limited presents a notable research candidate due to its strong position in the growing Latin American private market. The company's diversified fund offerings, spanning private equity, infrastructure, real estate, and credit, provide investors with exposure to a wide range of asset classes. A key value driver is Patria's established track record of generating attractive returns, supported by a healthy 22.3% profit margin. Upcoming catalysts include potential expansion into new Latin American markets and the launch of innovative investment products. However, potential risks include economic volatility in the region and increased competition from other global asset managers. With a dividend yield of 4.85%, Patria offers a potentially attractive income stream.
Based on FMP financials and quantitative analysis
PAX Key Highlights
Market capitalization of $1.86B, reflecting investor confidence in Patria's market position.
- P/E ratio of 24.6, indicating a reasonable valuation relative to earnings.
- Profit margin of 22.3%, showcasing the company's ability to generate profits from its asset management activities.
- Gross margin of 85.4%, highlighting the efficiency of Patria's investment strategies and fee structures.
- Beta of 0.73, suggesting lower volatility compared to the overall market.
Who Are PAX's Competitors?
PAX is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| SII Sprott Inc. | $126.56 | +4.73% | $3.26B | 71 |
| TSLX Sixth Street Specialty Lending, Inc. | $18.77 | +0.37% | $1.78B | 70 |
| CET Central Securities Corp. | $54.21 | -0.90% | $1.60B | 70 |
| GCMG GCM Grosvenor Inc. | $13.47 | -2.25% | $2.52B | 95 |
| HQH Abrdn Healthcare Investors | $23.84 | -3.33% | $1.36B | 71 |
| FSENX Fidelity Select Portfolios - Energy Portfolio | $92.48 | +0.37% | $2.66B | 69 |
| ASA ASA Gold and Precious Metals Limited | $62.31 | +0.10% | $1.17B | 76 |
| APAM Artisan Partners Asset Management Inc. | $42.05 | -1.06% | $2.99B | 70 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are PAX's Key Strengths?
Strong presence in the Latin American market.
- Diversified fund offerings across multiple asset classes.
- Experienced management team with a proven track record.
- High gross margin of 85.4%.
What Are PAX's Weaknesses?
Concentration of investments in Latin America, exposing the company to regional economic volatility.
- Dependence on performance fees, which can fluctuate based on market conditions.
- Relatively small market capitalization compared to global asset managers.
- Limited geographic diversification.
What Could Drive PAX Stock Higher?
Potential expansion into new Latin American markets, such as Colombia and Peru.
- Launch of new investment products, including a sustainable infrastructure fund.
- Continued growth in assets under management (AUM) driven by strong investment performance.
- Strengthening partnerships with institutional investors.
- Leveraging technology to improve operational efficiency and reduce costs.
What Are the Key Risks for PAX?
Financial-distress signal — its Altman Z-Score of 1.56 sits in the distress zone (elevated bankruptcy risk).
- Rich valuation — a P/E of 24.6 runs well above the Financial Services sector’s ~18x, leaving little room for a miss.
- Economic and political instability in Latin America could negatively impact investment returns.
- Increased competition from global asset managers could erode market share.
- Changes in regulatory environment impacting private market investments.
- Fluctuations in currency exchange rates could impact the value of investments.
- Dependence on key personnel, including the CEO and senior investment professionals.
What Are the Growth Opportunities for PAX?
- Expansion into New Latin American Markets: Patria has the opportunity to expand its presence into underserved Latin American markets, such as Colombia and Peru. These markets offer attractive investment opportunities in infrastructure, real estate, and private equity. Successful expansion could increase assets under management (AUM) by 15-20% over the next three years. This strategy leverages Patria's existing regional expertise and network.
- Launch of New Investment Products: Patria can develop and launch new investment products tailored to specific investor needs and market trends. For example, launching a sustainable infrastructure fund focused on renewable energy projects could attract ESG-conscious investors. This initiative could increase AUM by 10-15% within two years and further diversify Patria's product offerings.
- Increased Focus on Co-Investments: Patria can increase its focus on co-investment opportunities alongside its existing fund offerings. Co-investments allow investors to directly participate in specific deals, potentially generating higher returns. By actively pursuing co-investment opportunities, Patria could increase its deal flow and attract new investors, leading to a 5-10% increase in AUM annually.
- Leveraging Technology for Operational Efficiency: Patria can invest in technology to streamline its operations and improve efficiency. Implementing advanced data analytics and automation tools can reduce costs and enhance decision-making. This could lead to a 5-7% reduction in operating expenses over the next two years, improving profitability and competitiveness.
- Strengthening Partnerships with Institutional Investors: Patria can strengthen its partnerships with institutional investors, such as pension funds and sovereign wealth funds. By providing customized investment solutions and exceptional client service, Patria can deepen its relationships and secure long-term commitments. This could result in a 10-12% increase in AUM from institutional clients over the next three years.
What Are PAX's Competitive Advantages?
- Deep regional expertise in Latin American markets.
- Established network of relationships with local businesses and government entities.
- Strong track record of generating attractive returns for investors.
- Diversified fund offerings across multiple asset classes.
- Experienced management team with a proven ability to navigate the complexities of the Latin American market.
What Does PAX Do?
Founded in 1994, Patria Investments Limited has grown into a leading private market investment firm dedicated to Latin America. The company provides a range of asset management services, catering to investors interested in private equity funds, infrastructure development funds, co-investments funds, constructivist equity funds, and real estate and credit funds. Patria's investment strategies are tailored to capitalize on the unique opportunities present in the Latin American market, leveraging local expertise and a deep understanding of regional dynamics. Over the years, Patria has established a strong presence in the region, building a reputation for delivering attractive returns and fostering long-term partnerships. The firm's commitment to sustainable investing and responsible corporate governance further enhances its appeal to institutional investors. With its headquarters in Grand Cayman, the Cayman Islands, Patria Investments Limited continues to expand its investment portfolio and strengthen its position as a key player in the Latin American private market landscape. The company currently employs 577 individuals.
What Products and Services Does PAX Offer?
- Manages private equity funds focused on Latin American companies.
- Invests in infrastructure development projects across Latin America.
- Offers co-investment opportunities alongside its existing fund offerings.
- Provides constructivist equity funds for investors seeking active management strategies.
- Manages real estate funds targeting commercial and residential properties in Latin America.
- Offers credit funds focused on providing financing solutions to Latin American businesses.
- Provides asset management services to institutional and high-net-worth investors.
How Does PAX Make Money?
- Generates revenue through management fees charged on assets under management (AUM).
- Earns performance fees (carried interest) based on the returns generated by its funds.
- Receives transaction fees from deal-making activities, such as acquisitions and divestitures.
- Benefits from co-investment opportunities, generating additional returns alongside its investors.
What Industry Does PAX Operate In?
Patria Investments Limited operates within the asset management industry, specifically focusing on private markets in Latin America. The industry is characterized by increasing demand for alternative investments, driven by low interest rates and the search for higher returns. The competitive landscape includes global asset managers and regional players. Patria differentiates itself through its deep local expertise and established network in Latin America. The global asset management industry is projected to continue growing, fueled by rising wealth and increasing institutional investment in alternative assets.
Who Are PAX's Key Customers?
- Pension funds seeking diversified investment portfolios.
- Sovereign wealth funds looking for exposure to Latin American markets.
- High-net-worth individuals seeking alternative investment opportunities.
- Institutional investors interested in private equity, infrastructure, and real estate investments.
Insider Activity
Over the past six months, Patria Investments Limited insiders filed 10 SEC Form 4 transactions — 0 sales and 10 purchases. On net that is roughly 205K shares acquired (about $2.3M) — insiders putting money in tends to read as conviction.
Quarterly Financial Performance: Patria Investments Limited
Revenue for Patria Investments Limited came in at $115.9M during Q2 2026, a 18.0% improvement versus the preceding quarter. The company recorded net income of $10.5M, with diluted EPS of $0.07. Quarter-over-quarter revenue has been mixed, typical for a small-cap company operating in Financial Services. Across the four most recent quarters, PAX averaged $0.11 in diluted EPS.
PAX Valuation & Market Position
With a $1.86B market cap, Patria Investments Limited sits in the small-cap segment of the market. Relative to its peer group, PAX's quantitative score of 52/100 is below the peer average of 75/100.
Key Financial Metrics
Return on equity for Patria Investments Limited stands at 12.0%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 3.8%, showing how much profit it generates from its asset base. PAX trades at a trailing price-to-earnings ratio of 24.63, above the Financial Services sector average of ~18x. Its free cash flow yield is 10.4%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.83 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 3.9%, the inverse of the P/E and a quick read on earnings relative to price.
Financial Health
Patria Investments Limited's Piotroski F-Score is 6/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 1.56 places it in the distress zone, a signal of elevated financial risk.
Earnings Track Record
Patria Investments Limited has beaten Wall Street's EPS estimate in 4 of its last 8 reported quarters — more hits than misses. Reported results have landed about 7.5% above estimates on average.
Forward Outlook
Wall Street analysts project Patria Investments Limited revenue of about $430.2M for fiscal 2026, with EPS near $1.35. The estimate reflects 4 contributing analysts.
Company Profile
Patria Investments Limited operates in the Asset Management industry within the Financial Services sector. It is headquartered in Grand Cayman, KY. The company is led by CEO Alexandre Saigh. PAX has traded publicly since 2021.
PAX Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Patria's insider buying suggests strong confidence in the company's future, mirroring situations like executives loading up on Apple before major product launches.
- Community sentiment indicates a growing positive outlook, reminiscent of the early buzz around Shopify's e-commerce potential.
- Market perception sees Patria as a key player in Latin American investments, similar to how Blackstone is viewed globally.
- Recent developments suggest expansion into new markets, a strategy that fueled Amazon's growth beyond online retail.
Bear Case
- Community chatter also reveals worries about increased competition in the Latin American investment space, akin to the challenges faced by traditional retailers against Amazon.
- Market perception includes concerns about political instability in Latin America, similar to the risks companies face in emerging markets.
- Some bearish community members are questioning Patria's ability to maintain its growth trajectory, a concern similar to doubts surrounding Netflix's subscriber growth after its initial surge.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q2 2026 | $116M | $11M | $0.07 |
| Q1 2026 | $98M | $2M | $0.01 |
| Q4 2025 | $134M | $35M | $0.22 |
| Q3 2025 | $86M | $23M | $0.15 |
Based on FMP financials and quantitative analysis
PAX Latest News
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Patria Investments Raises More Than $670 Million for Secondary Opportunities Fund V
MT Newswires · Jul 2, 2026
-
Patria Investments successfully raises over USD 670m for its Secondary Opportunities Fund V
globenewswire.com · Jul 2, 2026
PAX Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for PAX.
Price Targets
Consensus target: $20.00
PAX MoonshotScore
What does this score mean?
The MoonshotScore rates PAX 0-100 on quantitative fundamentals — growth, financial health, valuation, momentum, and risk.
Latest Patria Investments Limited Analysis
Leadership: Alexandre Teixeira de Assumpcao Saigh
CEO
Alexandre Teixeira de Assumpcao Saigh is the CEO of Patria Investments Limited. His career spans over two decades in the financial services industry, with a strong focus on private equity and investment management. Prior to joining Patria, he held leadership positions at prominent financial institutions, where he oversaw significant investment portfolios and spearheaded strategic initiatives. He holds an MBA from a top-tier business school and is a frequent speaker at industry conferences.
Track Record: Under Alexandre Saigh's leadership, Patria Investments Limited has experienced significant growth in assets under management and expanded its presence in key Latin American markets. He has been instrumental in launching new investment products and strengthening the company's relationships with institutional investors. His strategic vision has positioned Patria as a leading player in the Latin American private market landscape.
Patria Investments Limited Financial Services Stock: Key Questions Answered
What does the AI Score mean for PAX?
PAX holds an AI Score of 52/100 (Grade: B). This is an educational research signal, not a buy or sell recommendation. Patria Investments Limited is a leading private market investment firm focused on Latin America. The company provides asset management services across various fund types, including private equity …
What does Patria Investments Limited do?
Patria Investments Limited is a private market investment firm focused on Latin America. The company offers asset management services to investors focusing on private equity funds, infrastructure development funds, co-investments funds, constructivist equity funds, and real estate and credit funds.
What do analysts say about PAX stock?
Analysts generally view Patria Investments Limited favorably, citing its strong position in the Latin American private market and its diversified fund offerings. Key valuation metrics, such as the P/E ratio of 24.6 and the dividend yield of 4.85%, suggest a reasonable valuation. Growth considerations include the potential for expansion into new markets and the launch of innovative investment products.
What are the main risks for PAX?
The main risks for Patria Investments Limited include economic and political instability in Latin America, which could negatively impact investment returns. Increased competition from global asset managers could erode market share. Changes in the regulatory environment impacting private market investments could also pose a threat. Fluctuations in currency exchange rates could impact the value of investments.
How does Patria Investments Limited make money in financial services?
Patria Investments Limited primarily generates revenue through management fees charged on assets under management (AUM). These fees are typically a percentage of the total value of the assets managed. The company also earns performance fees, also known as carried interest, based on the returns generated by its funds.
What regulatory challenges does Patria Investments Limited face?
Patria Investments Limited faces regulatory challenges related to the oversight of private market investments, both in Latin America and in the jurisdictions where its investors are located. Compliance with securities laws, anti-money laundering regulations, and tax regulations is crucial.
What are the key factors to evaluate for PAX?
Patria Investments Limited (PAX) holds an AI score of 52/100 (moderate). P/E: 24.6x vs the S&P 500's ~20-25x. Analysts target $20.00 (+74%). Not financial advice.
How frequently does PAX data refresh on this page?
PAX's price was last updated on Aug 21, 2026 and refreshes on page view during U.S. market hours — it is not a real-time exchange feed. Fundamentals update after quarterly filings; the MoonshotScore recalculates nightly; news aggregates continuously.
What has driven PAX's recent stock price performance?
Patria Investments Limited (PAX) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Strong presence in the Latin American market. See the News tab for the latest drivers. Past performance does not predict future results.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Information is based on publicly available sources and may be subject to change.
- Financial data is as of the latest available reporting period.