Intrinsic value of Patrick Industries - PATK

Previous Close

$71.55

  Intrinsic Value

$97.26

stock screener

  Rating & Target

buy

+36%

  Value-price divergence*

+88%

Previous close

$71.55

 
Intrinsic value

$97.26

 
Up/down potential

+36%

 
Rating

buy

 
Value-price divergence*

+88%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of PATK stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  32.83
  23.70
  21.83
  20.15
  18.63
  17.27
  16.04
  14.94
  13.94
  13.05
  12.24
  11.52
  10.87
  10.28
  9.75
  9.28
  8.85
  8.47
  8.12
  7.81
  7.53
  7.27
  7.05
  6.84
  6.66
  6.49
  6.34
  6.21
  6.09
  5.98
  5.88
Revenue, $m
  1,222
  1,512
  1,842
  2,213
  2,625
  3,078
  3,572
  4,106
  4,678
  5,289
  5,936
  6,620
  7,339
  8,094
  8,883
  9,708
  10,567
  11,461
  12,392
  13,359
  14,365
  15,409
  16,495
  17,624
  18,797
  20,017
  21,287
  22,608
  23,985
  25,419
  26,913
Variable operating expenses, $m
 
  1,394
  1,696
  2,036
  2,413
  2,828
  3,279
  3,768
  4,291
  4,850
  5,443
  6,057
  6,716
  7,406
  8,128
  8,883
  9,669
  10,487
  11,338
  12,224
  13,144
  14,100
  15,093
  16,126
  17,199
  18,316
  19,477
  20,687
  21,946
  23,258
  24,626
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,131
  1,394
  1,696
  2,036
  2,413
  2,828
  3,279
  3,768
  4,291
  4,850
  5,443
  6,057
  6,716
  7,406
  8,128
  8,883
  9,669
  10,487
  11,338
  12,224
  13,144
  14,100
  15,093
  16,126
  17,199
  18,316
  19,477
  20,687
  21,946
  23,258
  24,626
Operating income, $m
  91
  117
  146
  177
  212
  251
  293
  338
  387
  439
  494
  563
  624
  688
  755
  825
  898
  974
  1,053
  1,136
  1,221
  1,310
  1,402
  1,498
  1,598
  1,701
  1,809
  1,922
  2,039
  2,161
  2,288
EBITDA, $m
  115
  148
  181
  217
  257
  302
  350
  402
  459
  518
  582
  649
  720
  794
  871
  952
  1,036
  1,124
  1,215
  1,310
  1,408
  1,511
  1,617
  1,728
  1,843
  1,962
  2,087
  2,216
  2,351
  2,492
  2,639
Interest expense (income), $m
  7
  9
  12
  15
  19
  23
  28
  32
  38
  43
  49
  56
  63
  70
  77
  85
  93
  101
  110
  119
  129
  139
  149
  160
  171
  182
  194
  207
  220
  234
  248
Earnings before tax, $m
  84
  108
  133
  162
  193
  227
  265
  305
  349
  395
  444
  507
  561
  618
  678
  740
  805
  873
  943
  1,016
  1,092
  1,171
  1,253
  1,338
  1,427
  1,519
  1,615
  1,715
  1,819
  1,927
  2,040
Tax expense, $m
  28
  29
  36
  44
  52
  61
  72
  82
  94
  107
  120
  137
  152
  167
  183
  200
  217
  236
  255
  274
  295
  316
  338
  361
  385
  410
  436
  463
  491
  520
  551
Net income, $m
  56
  79
  97
  118
  141
  166
  193
  223
  255
  288
  324
  370
  410
  451
  495
  540
  588
  637
  688
  742
  797
  855
  915
  977
  1,042
  1,109
  1,179
  1,252
  1,328
  1,407
  1,489

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  6
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  535
  654
  797
  958
  1,136
  1,333
  1,546
  1,777
  2,025
  2,289
  2,570
  2,866
  3,177
  3,504
  3,846
  4,202
  4,574
  4,962
  5,364
  5,783
  6,218
  6,671
  7,141
  7,629
  8,137
  8,665
  9,215
  9,787
  10,383
  11,004
  11,651
Adjusted assets (=assets-cash), $m
  529
  654
  797
  958
  1,136
  1,333
  1,546
  1,777
  2,025
  2,289
  2,570
  2,866
  3,177
  3,504
  3,846
  4,202
  4,574
  4,962
  5,364
  5,783
  6,218
  6,671
  7,141
  7,629
  8,137
  8,665
  9,215
  9,787
  10,383
  11,004
  11,651
Revenue / Adjusted assets
  2.310
  2.312
  2.311
  2.310
  2.311
  2.309
  2.310
  2.311
  2.310
  2.311
  2.310
  2.310
  2.310
  2.310
  2.310
  2.310
  2.310
  2.310
  2.310
  2.310
  2.310
  2.310
  2.310
  2.310
  2.310
  2.310
  2.310
  2.310
  2.310
  2.310
  2.310
Average production assets, $m
  179
  221
  269
  323
  383
  449
  522
  599
  683
  772
  867
  967
  1,072
  1,182
  1,297
  1,417
  1,543
  1,673
  1,809
  1,950
  2,097
  2,250
  2,408
  2,573
  2,744
  2,923
  3,108
  3,301
  3,502
  3,711
  3,929
Working capital, $m
  87
  119
  145
  175
  207
  243
  282
  324
  370
  418
  469
  523
  580
  639
  702
  767
  835
  905
  979
  1,055
  1,135
  1,217
  1,303
  1,392
  1,485
  1,581
  1,682
  1,786
  1,895
  2,008
  2,126
Total debt, $m
  273
  348
  441
  546
  662
  789
  928
  1,078
  1,239
  1,411
  1,593
  1,786
  1,988
  2,201
  2,423
  2,655
  2,896
  3,148
  3,410
  3,682
  3,965
  4,259
  4,565
  4,882
  5,212
  5,556
  5,913
  6,285
  6,672
  7,075
  7,496
Total liabilities, $m
  350
  425
  518
  623
  739
  866
  1,005
  1,155
  1,316
  1,488
  1,670
  1,863
  2,065
  2,278
  2,500
  2,732
  2,973
  3,225
  3,487
  3,759
  4,042
  4,336
  4,642
  4,959
  5,289
  5,633
  5,990
  6,362
  6,749
  7,152
  7,573
Total equity, $m
  185
  229
  279
  335
  398
  466
  541
  622
  709
  801
  899
  1,003
  1,112
  1,226
  1,346
  1,471
  1,601
  1,737
  1,878
  2,024
  2,176
  2,335
  2,499
  2,670
  2,848
  3,033
  3,225
  3,426
  3,634
  3,851
  4,078
Total liabilities and equity, $m
  535
  654
  797
  958
  1,137
  1,332
  1,546
  1,777
  2,025
  2,289
  2,569
  2,866
  3,177
  3,504
  3,846
  4,203
  4,574
  4,962
  5,365
  5,783
  6,218
  6,671
  7,141
  7,629
  8,137
  8,666
  9,215
  9,788
  10,383
  11,003
  11,651
Debt-to-equity ratio
  1.476
  1.520
  1.580
  1.630
  1.660
  1.690
  1.710
  1.730
  1.750
  1.760
  1.770
  1.780
  1.790
  1.790
  1.800
  1.800
  1.810
  1.810
  1.820
  1.820
  1.820
  1.820
  1.830
  1.830
  1.830
  1.830
  1.830
  1.830
  1.840
  1.840
  1.840
Adjusted equity ratio
  0.338
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  56
  79
  97
  118
  141
  166
  193
  223
  255
  288
  324
  370
  410
  451
  495
  540
  588
  637
  688
  742
  797
  855
  915
  977
  1,042
  1,109
  1,179
  1,252
  1,328
  1,407
  1,489
Depreciation, amort., depletion, $m
  24
  31
  35
  40
  45
  51
  58
  65
  72
  80
  88
  86
  96
  106
  116
  127
  138
  149
  162
  174
  187
  201
  215
  230
  245
  261
  277
  295
  313
  331
  351
Funds from operations, $m
  107
  110
  132
  158
  186
  217
  251
  288
  327
  368
  413
  456
  505
  557
  611
  667
  726
  787
  850
  916
  985
  1,056
  1,130
  1,207
  1,287
  1,370
  1,456
  1,547
  1,640
  1,738
  1,840
Change in working capital, $m
  10
  23
  26
  29
  33
  36
  39
  42
  45
  48
  51
  54
  57
  60
  62
  65
  68
  71
  74
  76
  79
  83
  86
  89
  93
  96
  100
  104
  109
  113
  118
Cash from operations, $m
  97
  87
  106
  129
  154
  181
  212
  245
  281
  320
  361
  402
  449
  497
  548
  602
  658
  716
  777
  840
  905
  973
  1,044
  1,118
  1,194
  1,273
  1,356
  1,442
  1,532
  1,625
  1,722
Maintenance CAPEX, $m
  0
  -16
  -20
  -24
  -29
  -34
  -40
  -47
  -54
  -61
  -69
  -77
  -86
  -96
  -106
  -116
  -127
  -138
  -149
  -162
  -174
  -187
  -201
  -215
  -230
  -245
  -261
  -277
  -295
  -313
  -331
New CAPEX, $m
  -15
  -42
  -48
  -54
  -60
  -66
  -72
  -78
  -84
  -89
  -95
  -100
  -105
  -110
  -115
  -120
  -125
  -131
  -136
  -141
  -147
  -153
  -159
  -165
  -171
  -178
  -185
  -193
  -201
  -209
  -218
Cash from investing activities, $m
  -154
  -58
  -68
  -78
  -89
  -100
  -112
  -125
  -138
  -150
  -164
  -177
  -191
  -206
  -221
  -236
  -252
  -269
  -285
  -303
  -321
  -340
  -360
  -380
  -401
  -423
  -446
  -470
  -496
  -522
  -549
Free cash flow, $m
  -57
  29
  38
  50
  65
  81
  100
  121
  144
  170
  198
  225
  257
  291
  328
  366
  406
  448
  491
  537
  584
  633
  685
  738
  793
  850
  910
  972
  1,036
  1,103
  1,172
Issuance/(repayment) of debt, $m
  69
  81
  93
  104
  116
  128
  139
  150
  161
  172
  182
  192
  202
  212
  222
  232
  242
  252
  262
  272
  283
  294
  306
  318
  330
  343
  357
  372
  387
  403
  421
Issuance/(repurchase) of shares, $m
  -3
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  63
  81
  93
  104
  116
  128
  139
  150
  161
  172
  182
  192
  202
  212
  222
  232
  242
  252
  262
  272
  283
  294
  306
  318
  330
  343
  357
  372
  387
  403
  421
Total cash flow (excl. dividends), $m
  6
  110
  131
  155
  181
  209
  239
  271
  305
  342
  380
  418
  460
  504
  550
  598
  648
  699
  753
  809
  867
  927
  990
  1,055
  1,123
  1,194
  1,267
  1,344
  1,423
  1,506
  1,593
Retained Cash Flow (-), $m
  -56
  -44
  -50
  -56
  -62
  -69
  -75
  -81
  -87
  -92
  -98
  -104
  -109
  -114
  -120
  -125
  -130
  -136
  -141
  -147
  -152
  -158
  -165
  -171
  -178
  -185
  -192
  -200
  -209
  -217
  -226
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  66
  81
  99
  118
  140
  164
  190
  219
  249
  282
  314
  351
  389
  430
  473
  517
  564
  612
  662
  715
  769
  826
  884
  945
  1,009
  1,075
  1,143
  1,215
  1,289
  1,367
Discount rate, %
 
  7.60
  7.98
  8.38
  8.80
  9.24
  9.70
  10.18
  10.69
  11.23
  11.79
  12.38
  13.00
  13.65
  14.33
  15.05
  15.80
  16.59
  17.42
  18.29
  19.20
  20.17
  21.17
  22.23
  23.34
  24.51
  25.74
  27.02
  28.37
  29.79
  31.28
PV of cash for distribution, $m
 
  61
  70
  77
  84
  90
  94
  96
  97
  96
  93
  87
  81
  74
  66
  58
  49
  41
  34
  27
  21
  16
  12
  9
  6
  4
  3
  2
  1
  1
  0
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Patrick Industries, Inc. manufactures and distributes building products and materials for the recreational vehicle, manufactured housing, and industrial markets in the United States and Canada. Its Manufacturing segment manufactures and fabricates decorative vinyl and paper laminated panels; fabricated aluminum products; wrapped vinyl, paper, and hardwood profile moldings; solid surface, granite, and quartz countertops; cabinet doors and components; hardwood furniture; fiberglass bath and shower surrounds and fixtures; fiberglass marine helms; fiberglass and plastic component products; slide-out trim and fascia; interior passage doors; RV paintings; softwoods lumber; simulated wood and stone products; slotwall panels and components; and others. It also offers custom fabrication, edge-banding, drilling, boring, and cut-to-size services. The company’s Distribution segment distributes pre-finished wall and ceiling panels, drywall and drywall finishing products, electronics, wiring products, electrical and plumbing products, cement siding products, fiber reinforced polyester products, interior passage doors, roofing products, laminate and ceramic flooring products, shower doors, furniture, fireplaces and surrounds, interior and exterior lighting products, and others. The company markets its products under the Adorn, Custom Vinyls, Patrick Distribution, AIA Countertops, Quest Audio Video, Interior Components Plus, Gravure Ink, Praxis Group, Infinity Graphics, Décor Manufacturing, Gustafson Lighting, Creative Wood Designs, Middlebury Hardwood Products, Frontline Manufacturing, Premier Concepts, West Side Furniture, Precision Painting, Carrera Custom Painting, Millennium Paint, Foremost Fabricators, PolyDyn3, Charleston, Better Way Products, SCI, North American, and Decorative Dynamics brand names. Patrick Industries, Inc. offers its products through a network of manufacturing and distribution centers. The company was founded in 1959 and is based in Elkhart, Indiana.

FINANCIAL RATIOS  of  Patrick Industries (PATK)

Valuation Ratios
P/E Ratio 19.6
Price to Sales 0.9
Price to Book 5.9
Price to Tangible Book
Price to Cash Flow 11.3
Price to Free Cash Flow 13.4
Growth Rates
Sales Growth Rate 32.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 87.5%
Cap. Spend. - 3 Yr. Gr. Rate 10.8%
Financial Strength
Quick Ratio 0
Current Ratio 0
LT Debt to Equity 138.9%
Total Debt to Equity 147.6%
Interest Coverage 13
Management Effectiveness
Return On Assets 13.2%
Ret/ On Assets - 3 Yr. Avg. 14.1%
Return On Total Capital 14.2%
Ret/ On T. Cap. - 3 Yr. Avg. 16%
Return On Equity 35.7%
Return On Equity - 3 Yr. Avg. 35.1%
Asset Turnover 2.7
Profitability Ratios
Gross Margin 16.5%
Gross Margin - 3 Yr. Avg. 16.4%
EBITDA Margin 9.4%
EBITDA Margin - 3 Yr. Avg. 9.1%
Operating Margin 7.4%
Oper. Margin - 3 Yr. Avg. 7.4%
Pre-Tax Margin 6.9%
Pre-Tax Margin - 3 Yr. Avg. 6.9%
Net Profit Margin 4.6%
Net Profit Margin - 3 Yr. Avg. 4.5%
Effective Tax Rate 33.3%
Eff/ Tax Rate - 3 Yr. Avg. 35.5%
Payout Ratio 0%

PATK stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PATK stock intrinsic value calculation we used $1222 million for the last fiscal year's total revenue generated by Patrick Industries. The default revenue input number comes from 2016 income statement of Patrick Industries. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our PATK stock valuation model: a) initial revenue growth rate of 23.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 7.6%, whose default value for PATK is calculated based on our internal credit rating of Patrick Industries, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Patrick Industries.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of PATK stock the variable cost ratio is equal to 92.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for PATK stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Patrick Industries.

Corporate tax rate of 27% is the nominal tax rate for Patrick Industries. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the PATK stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for PATK are equal to 14.6%.

Life of production assets of 11.2 years is the average useful life of capital assets used in Patrick Industries operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for PATK is equal to 7.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $185 million for Patrick Industries - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 14.927 million for Patrick Industries is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Patrick Industries at the current share price and the inputted number of shares is $1.1 billion.

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COMPANY NEWS

▶ Patrick Industries beats 2Q profit forecasts   [Jul-27-17 07:07PM  Associated Press]
▶ This Week's Hidden Gems: (CAMT)(PATK)   [Jun-08-17 04:26PM  Zacks]
▶ Patrick Industries beats 1Q profit forecasts   [Apr-27-17 08:47AM  Associated Press]
▶ Patrick Industries posts 4Q profit   [08:43AM  Associated Press]
▶ Boomers Head Out On That Highway, And Patrick Poised To Profit   [Dec-19-16 04:30PM  Investor's Business Daily]
▶ Has The Time Come to Buy New Senior Investment Group Inc (SNR)?   [Dec-08-16 01:18PM  at Insider Monkey]
▶ Patrick Industries, Inc. Announces Officer Promotions   [Sep-26-16 02:06PM  PR Newswire]
▶ Indiana Public Company of the Year finalists named   [Aug-30-16 09:15AM  GlobeNewswire]
Stock chart of PATK Financial statements of PATK
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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