Patrick Industries Inc (PATK)
Return on equity (ROE)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 142,897 | 328,196 | 224,915 | 97,061 | 89,566 |
| Total stockholders’ equity | US$ in thousands | 1,045,340 | 955,169 | 767,557 | 559,441 | 497,481 |
| ROE | 13.67% | 34.36% | 29.30% | 17.35% | 18.00% |
December 31, 2023 calculation
ROE = Net income ÷ Total stockholders’ equity
= $142,897K ÷ $1,045,340K
= 13.67%
The return on equity (ROE) for Patrick Industries, Inc. has varied over the past five years, ranging from a low of 13.67% in 2023 to a high of 34.36% in 2022. The downward trend in ROE from 2022 to 2023 suggests a decrease in the company's profitability relative to its equity base. It is important to investigate the factors contributing to this decline in ROE to determine if it is a temporary fluctuation or indicative of underlying issues within the company. Overall, the ROE figures indicate that Patrick Industries has been successful in generating a return for its shareholders, but further analysis is necessary to understand the drivers behind these fluctuations.
Peer comparison
Dec 31, 2023