Patrick Industries Inc (PATK)

Return on equity (ROE)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	142,897	152,260	171,529	245,696	328,196	349,036	347,614	290,075	224,915	201,719	181,658	123,387	97,061	79,221	63,202	89,904	89,566	96,552	103,169	110,613
Total stockholders’ equity	US$ in thousands	1,045,340	1,031,300	997,422	969,822	955,169	946,676	897,590	799,972	767,557	692,048	643,271	595,275	559,441	525,829	493,268	495,376	497,481	479,938	458,617	429,089
ROE		13.67%	14.76%	17.20%	25.33%	34.36%	36.87%	38.73%	36.26%	29.30%	29.15%	28.24%	20.73%	17.35%	15.07%	12.81%	18.15%	18.00%	20.12%	22.50%	25.78%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $142,897K ÷ $1,045,340K
= 13.67%

Patrick Industries, Inc.'s return on equity (ROE) has shown a declining trend over the past eight quarters. In Q4 2022, the ROE was at its peak at 34.36%, followed by a continuous decrease in subsequent quarters. The ROE decreased to 13.67% in Q4 2023, indicating a significant drop compared to the previous quarters. This declining trend suggests that the company's profitability in generating earnings from shareholders' equity has weakened over time. Further analysis is required to understand the factors contributing to this decline and to assess the company's overall financial performance and efficiency in utilizing its equity to generate returns for shareholders.