Stock fact sheet · data as of
Patria Investments Ltd (PAX): fair value, margin of safety and Wheel Score
Financial Services · Asset Management · United States · High Yield Income
Is PAX undervalued?
PAX closed at 11.50 on 16 Oct 2026 against a GLS average fair value of 12.42 - 7.4% below fair value, which our screens read as "fairly priced". 3 of 9 models are above the current price. There is no discount to lean on here, so the margin of safety is not the reason to look at the stock.
There is a wide gap between Lynch (3.70) and Payback Time (27.31). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files PAX under High Yield Income: a dividend yield above 4%.
Nine valuation models for PAX
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 19.28 | +68% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 5.90 | -49% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 10.88 | -5% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 3.70 | -68% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 10.22 | -11% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 20.42 | +78% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 27.31 | +138% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 9.20 | -20% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 4.88 | -58% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -2.78 | -124% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 14.00 | +22% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Patria Investments Ltd scores 6 of 9 on the Piotroski F-score: a middling result that passes the Sunday Scan's "6 or more" rule. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. A GLS Moat score of 4.8/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
Returns on capital are moderate - ROIC 10.6%, ROE 14.0%, ROA 5.7% - with debt at 0.32 times equity and a free-cash-flow yield of 7.9%.
The dividend yield is high at 5.43% (payout ratio 141%) - a payout above 100% of earnings, which is not covered by profits. A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Advisory and Other Ancillary Fees 100% (fiscal year FY2025).
Institutional ownership scores 4/10, insider activity 9/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | 10.6% |
|---|---|---|---|
| GLS Moat | 4.8 / 10 | ROE | 14.0% |
| Debt / equity | 0.32 | ROA | 5.7% |
| Free-cash-flow yield | 7.9% | Payout ratio | 141% |
| Institutions | 4 / 10 | Insiders · Congress | 9 · 5 / 10 |
Wheel Score 72: Good
With a Wheel Score of 72 - the Good band - Patria Investments Ltd clears the Sunday Scan's "70 or higher" rule. The parts: Value 16/25, Health 13/20, Moat 7/15, Premium 20/20, Stability 15/20; Moat (7/15) scores lowest.
Implied volatility is 54% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 5,703 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 1.1M shares a day on a market cap of $1.9B, with a beta of 0.78 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 15 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 16 / 25 | 7% margin of safety | |
| Health | 13 / 20 | Piotroski 6/9 | |
| Moat | 7 / 15 | moat 4.8/10 | |
| Premium | 20 / 20 | implied volatility 54% | |
| Stability | 15 / 20 | 1.1M shares/day, $1.9B cap, beta 0.78 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 10 Nov 2026 (before the open), 25 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Asset Management
The 12 companies below are the closest to Patria Investments Ltd by market cap within the Asset Management industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| ACITX American Century Inflation Adjusted Bond Investor Class | 10.28 | 11.55 | +11% | 39No options | $1.9B |
| BSTZ BlackRock Science and Technology Trust II | 27.95 | 413.55 | +93% | 39No options | $1.9B |
| AEDMX American Century Emerging Markets Fund | 18.24 | 3.25 | -461% | 19No options | $1.8B |
| AMKIX American Century Emerging Markets Fund - I Class | 18.22 | 2.93 | -522% | 14No options | $1.8B |
| TY Tri-Continental Corporation | 34.50 | 156.43 | +78% | 39No options | $1.8B |
| AHLPX American Beacon AHL Managed Futures Strategy Fund - Investor Class | 10.78 | 7.10 | -52% | 29No options | $1.8B |
| MLCIL Mount Logan Capital Inc. 8.00% Notes Due 2031 | 22.40 | 1.77 | -1169% | 3No options | $1.9B |
| GOF Guggenheim Strategic Opportunities Fund | 8.60 | 35.85 | +76% | 39No options | $1.8B |
| FDVAX Fidelity Advisor Diversified Intl A | 30.30 | 31.81 | +5% | 39No options | $1.8B |
| RVT Royce Value Trust Inc. | 16.37 | 72.44 | +77% | 39No options | $2.0B |
| MCNVX NYLI MacKay Convertible Fund;I | 22.56 | 25.11 | +10% | 39No options | $1.8B |
| TWMIX American Century Emerging Markets Investor Class | 17.86 | 6.61 | -170% | 23No options | $1.8B |
⚖ Compare PAX with 7 of them All Financial Services stocks →
Screen the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the same eight-rule screen, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about PAX
Is PAX undervalued right now?
Not meaningfully: at 11.50 the stock trades within a few percent of the GLS average fair value of 12.42 (7.4% below fair value, data as of 16 Oct 2026).
What is the Wheel Score of PAX and what does it mean?
PAX scores 72 out of 100 (Good). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for PAX?
12.42 per share as of 16 Oct 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Patria Investments Ltd report earnings next?
The next earnings report is due on 10 Nov 2026 (before the open), 25 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does PAX have listed options, and how liquid are they?
Yes. The nightly snapshot found 90 listed contracts with 5,703 open interest across all expiries and implied volatility of 54% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.