Filing Flows › Patrick Industries (PATK) › Q4 2025
Patrick Industries (PATK) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 19, 2026
Patrick Industries (PATK) reported revenue of $924M for the fourth quarter 2025 (Q4 2025), +9% from a year earlier and -5% from the quarter before. Operating margin was 6.2%, net earnings $29.1M (3.1% of revenue).
Patrick Industries, Q4 2025: revenue $924M (+9% year over year), operating margin 6.2%, net earnings $29.1M, operating cash flow $131M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $924M | -5% | +9% |
| Gross profit | $213M | -4% | +14% |
| Operating profit | $57.4M | -13% | +45% |
| Net earnings | $29.1M | -18% | +100% |
| Operating cash flow | $131M | 14× | +27% |
| Free cash flow | $113M | — | +46% |
What changed
Revenue was $924.2M in Q4 2025, up 9% year over year and down 5% from the previous quarter. Recreational Vehicle was the largest line at 42% of revenue.
Gross margin was 23.0%, up 0.9 points from a year earlier. Operating profit was $57.4M, a 6.2% margin (up 1.5 points year over year). Of the extra revenue versus a year earlier, 23% reached operating profit, above the 5% margin then. Operating expenses grew 5% against revenue growth of 9%. Net earnings were $29.1M, up 100% year over year. The effective tax rate was 26.1%.
Operating cash flow was $130.8M (up 27% year over year), 450% of net earnings. Non-cash charges added back $43.0M of depreciation and amortization and $3.9M of share-based compensation. Working capital and other items added $54.9M. Capital expenditures of $18.2M left free cash flow of $112.7M.
Questions
What was Patrick Industries' revenue in the fourth quarter 2025?
Patrick Industries (PATK) reported revenue of $924M for the fourth quarter 2025 (Q4 2025), +9% from a year earlier and -5% from the quarter before.
Was Patrick Industries profitable in the fourth quarter 2025?
Operating profit was $57.4M (6.2% of revenue) and net earnings $29.1M.
Source: Patrick Industries 10-K on SEC EDGAR.