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Patrick Industries (PATK) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Patrick Industries (PATK) Q3 2026 earnings results →

Q3 2026 Revenue up 0% year over year to $975M · 2¢ of every $1 of revenue kept as net profit · operating margin 5.1%

Patrick Industries made $975M in Q3 2026 (0% Y/Y): Recreational Vehicle $362M, Manufactured Housing $174M, Marine $171M. Operating margin 5.1%, net earnings $21.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.

Revenue$975M
Year over year0%
Operating margin5.1%
Net earnings$21.1M
Operating cash flow$77.6M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $975.3M in Q3 2026, roughly flat year over year and down 6% from the previous quarter. Recreational Vehicle was the largest line at 37% of revenue. Recreational Vehicle lost $63.6M year over year (down 15%), 17957% of the total change.

Gross margin was 23.6%, up 0.9 points from Q3 2025. Operating profit was $49.8M, a 5.1% margin (down 1.7 points year over year). Operating expenses grew 16% against flat revenue. The fastest-growing cost line was SG&A (+25%). Net earnings were $21.1M, down 40% year over year. The effective tax rate was 32.1%.

Operating cash flow was $77.6M (up 753% year over year), 369% of net earnings. Non-cash charges added back $42.6M of depreciation and amortization and $5.9M of share-based compensation. Working capital and other items added $8.1M. Capital expenditures of $19.3M left free cash flow of $58.4M.

Quarterly history

Patrick Industries revenue by quarterPatrick Industries revenue by quarter$1.0BQ1 2025$1.0BQ2 2025$976MQ3 2025$924MQ4 2025$997MQ1 2026$1.0BQ2 2026$975MQ3 2026
Patrick Industries net earnings by quarterPatrick Industries net earnings by quarter$38.2MQ1 2025$32.4MQ2 2025$35.3MQ3 2025$29.1MQ4 2025$39.5MQ1 2026$43.4MQ2 2026$21.1MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 5, 2026$975M0%5.1%$21.1M$77.6M
Q2 202610-QAug 6, 2026$1.0B-0.6%7.4%$43.4M$82.9M
Q1 202610-QMay 7, 2026$997M-0.6%6.5%$39.5M−$14.0M
Q4 202510-KFeb 19, 2026$924M+9%6.2%$29.1M$131M
Q3 202510-QNov 6, 2025$976M+6%6.8%$35.3M$9.1M
Q2 202510-QAug 7, 2025$1.0B+3%8.3%$32.4M$149M
Q1 202510-QMay 8, 2025$1.0B+8%6.5%$38.2M$40.1M

Charts

Patrick Industries: revenue growth, year over year and quarter over quarterPatrick Industries: revenue growth, year over year and quarter over quarterY/YQ/Q+8%Q1 2025+3%+4%Q2 2025+6%-7%Q3 2025+9%-5%Q4 2025-1%+8%Q1 2026-1%+4%Q2 20260%-6%Q3 2026
Latest (Q3 2026): Y/Y 0%, Q/Q -6%.
Patrick Industries: where the cash came from (+) and went (−), TTM to Q3 2026Patrick Industries: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$277MBuybacks−$106MAcquisitions−$74.5MCapital spending−$74.0MDividends−$61.4MNet borrowing (+) / repaid (−)$49.8MTaxes on employees’ shares−$13.3MCash drawn (+) / kept (−)$4.7MOther investing−$2.6MAsset & business sales$2.2MOther financing−$2.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Patrick Industries: profit against cash, quarter by quarterPatrick Industries: profit against cash, quarter by quarterNet incomeOperating cash flow$14.6M$103MQ4 2024$38.2M$40.1MQ1 2025$32.4M$149MQ2 2025$35.3M$9.1MQ3 2025$29.1M$131MQ4 2025$39.5M−$14.0MQ1 2026$43.4M$82.9MQ2 2026$21.1M$77.6MQ3 2026
Latest (Q3 2026): Net income $21.1M, Operating cash flow $77.6M.
Patrick Industries: diluted shares by fiscal yearPatrick Industries: diluted shares by fiscal year23MFY202023MFY202137MFY202233MFY202334MFY202435MFY2025
+50.0% since FY2020: more shares outstanding (issuance, stock pay).
Patrick Industries: long-term debt falling due (FY2025)Patrick Industries: long-term debt falling due (FY2025)$6.2M2026$6.2M2027$265M2028$523M2029$500MLater
Cash $26.4M, short-term investments —, long-term debt $1.3B at 2025-12-31.
Patrick Industries in its industry: growth against margin (35 companies, SIC 3714)Patrick Industries in its industry: growth against margin (35 companies, SIC 3714)revenue growth, year over year →↑ operating marginmedian +2%median 4%LEAADNTBWAAPTVDCHALVVGNTDANALSNMODLCIIVCGTXPHINCPSGNTXDORMATMUSMPTHRMPlatinum SpinCo, Inc.CVGIMPAASRISTRTHLLYAEVAWKSPXOSAZIOLIDROMTKECXJATVKPATK (0%, 5%)
Motor Vehicle Parts & Accessories; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Patrick Industries

Unless the context otherwise requires, the terms “ Company, ” “ Patrick, ” “ we, ” “ our, ” or “ us ” refer to Patrick Industries, Inc. and its subsidiaries. Patrick is a leading component solutions provider for the recreational vehicle ("RV"), marine, powersports, manufactured housing ("MH") and various industrial markets – including single and multi-family housing, hospitality, institutional and commercial markets.

In its own words, from its 10-K, filed Feb 19, 2026.

Patrick Industries against its Motor Vehicle Parts & Accessories peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: 0% against the peers' median +2%. Operating margin: 5.1% against the peers' median 5.1%.

CompanyQuarterRevenueY/YOp. margin
PATK Patrick IndustriesQ3 2026$975M0%5.1%
LEA LearQ3 2026$5.8B+2%3.4%
ADNT AdientQ4 FY26$3.7B+1%-0.1%
BWA BorgwarnerQ3 2026$3.5B-3%8.7%
APTV AptivQ3 2026$3.2B+2%8.8%
DCH DauchQ3 2026$2.9B+93%2.5%
ALV AutolivQ3 2026$2.7B-0.5%9.4%
VGNT VersigentQ3 2026$2.5B+7%7.6%
DAN DanaQ3 2026$2.0B+6%4.5%

Source: Patrick Industries 10-Q on SEC EDGAR · CIK 76605 · Motor Vehicle Parts & Accessories

Guidance and outlook

Patrick Industries: what its forward-looking statements are about (10-Q filed 2026-11-05)Patrick Industries: what its forward-looking statements are about (10-Q filed 2026-11-05)Costs2Financing2Demand2Deals1The economy1
8 statements; tone -0.38 (−1 all cautious, +1 all confident); 1 hedged.
Patrick Industries: outlook statements against the filing beforePatrick Industries: outlook statements against the filing beforeCautious3

13F: who owns PATK and who is buying

Largest holders of PATK (13F)Largest holders of PATK (13F)BlackRock$449MFMR LLC$387MVanguard Group$268MWellington Management Group LLP$146MDimensional Fund Advisors LP$134MVanguard Capital Management LLC$128MCapital Research Global Investors$126MCapital World Investors$119MState Street$115MGeode Capital Management, LLC$77.5M
Funds' net buying of PATK by quarter (13F)Funds' net buying of PATK by quarter (13F)$63.1M2024-09−$110M2024-12$236M2025-03$3.4M2025-06−$33.4M2025-09$24.3M2025-12−$48.7M2026-03−$40.0M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on PATK

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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中文版：Patrick Industries（PATK）财报

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