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MARKETS / NASDAQ / PAX
NASDAQ · INVESTMENT ADVICE · LARGE CAP

Patria Investments Ltd. PAX

7 fiscal years on record · USD · FY2024 reported · SEC filings only
$374.2M
▲ 14.2% YoY
$71.9M
▼ 39.3% YoY
$142.3M
▼ 5.6% YoY
In brief

What this company does

Patria Investments Limited is a global alternative investment firm focused on the middle market segment, specializing in resilient sectors across select regions. As of December 31, 2025, it had combined assets under management of US$52.6 billion. As of December 31, 2025, it had 548 professionals, of whom 44 were partners. It operates 15 offices around the globe, including investment offices in Montevideo, Uruguay; São Paulo, Brazil; Bogotá and Medellín, Colombia; Lima, Peru; Santiago, Chile; and Edinburgh, Scotland, as well as client-coverage offices in New York and Sausalito in the United States, Dubai, Hong Kong, Mexico City and Buenos Aires, in addition to a corporate business and management office in George Town, Cayman Islands. It offers investment strategies across major asset classes, including private equity, infrastructure, credit, real estate, and public equities. It offers these strategies through product structures that include closed-end funds, permanent capital listed vehicles, interval funds, open end funds, and separately managed accounts. Initially named Patrimônio Participações, the company was founded in 1988 as a Brazilian M&A and financial advisory firm in partnership with Salomon Brothers Inc. In 2001, the company rebranded its operations as Patria Investments.

Written from the business description in Patria Investments Limited's annual report to the U.S. Securities and Exchange Commission, filed 30 April 2026. Every sentence was checked against that document before publication.

Growth
USD 374.2M
Revenue, FY2024 · full 7-year series below
Revenue $M Net income $M
FY2024 · Revenue 374.2 · Net income 71.9
200M2018201920202021202220232024
Compound annual growth
+16.7%
+24.9%
−16.3%
+4.2%
−19.7%
+9.9%
+17.1%
+11.1%
+23.1%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +24.9% a year over five years — but profit grew slower: net income at +4.2%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
20 cents
of every revenue dollar became profit
Operating margin Net margin
FY2024 · Operating — · Net 20.2%
20%40%2018201920202021202220232024
ROE
FY2024 · ROE 14.0%
50%2018201920202021202220232024

Each USD of equity produced 14 cents of profit this year.

Cash & shareholders
USD 132.4M
returned in FY2024 · dividends + net buybacks
Free cash flow $M
FY2024 · FCF 142.3
80M2018201920202021202220232024
Net buybacks $M Dividends $M
FY2024 · Dividends 132.4 · Net buybacks —
50M100M2018201920202021202220232024

USD 132.4M in dividends — 184% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 1.2B
EquityUSD 481.1M
CashUSD 33.4M
Current ratio0.94×

Equity funds 40% of total assets.

The 7-year record
7 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 2024202320222021202020192018
Revenue $B0.40.30.30.20.10.10.1
Operating income $B···0.10.10.10.0
EBITDA $B·······
Income tax $B0.0−0.00.00.00.00.00.0
Net income $B0.10.10.10.10.10.10.0
Free cash flow $B0.10.20.10.10.10.00.0
EPS, diluted $0.470.800.630.900.53··
Dividend / sh $0.870.980.700.660.720.400.00
Payout %184123111791048087
ROE %14.021.616.639.489.972.1·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 24 reconciliationsAUDITED

Reconciled in 7 of 19 fiscal years. 52 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityInvestment Advice
Listed onNASDAQ
Incorporated inoutside the United States — SEC code E9
Fiscal year endsDecember 31
Data on record since2018

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