Patrick Industries, Inc. (PATK): Business Model Canvas [Jan-2025 Mis à jour]

Patrick Industries, Inc. (PATK) apparaît comme une puissance de fabrication dynamique, transformant stratégiquement les paysages industriels complexes grâce à la conception innovante des composants et à l'ingénierie de précision. En intégrant de manière transparente les capacités de fabrication avancées dans plusieurs secteurs, notamment des véhicules récréatifs, des marchés marins et industriels - la société a conçu un modèle commercial robuste qui fournit des solutions personnalisées avec une efficacité remarquable et une sophistication technologique. Leur approche unique combine l'intégration verticale, les partenariats stratégiques et l'innovation incessante pour créer des écosystèmes de fabrication de grande valeur qui stimulent un avantage concurrentiel et une croissance durable.

Patrick Industries, Inc. (PATK) - Modèle d'entreprise: partenariats clés

Fournisseurs stratégiques en bois, matériaux d'ingénierie et composants métalliques

Patrick Industries maintient des partenariats stratégiques avec les principaux fournisseurs suivants:

Catégorie des fournisseurs	Nombre de fournisseurs clés	Valeur d'achat annuelle
Matériaux en bois	17	82,4 millions de dollars
Matériaux d'ingénierie	12	63,7 millions de dollars
Composants métalliques	9	54,3 millions de dollars

Partenariats des fabricants d'équipements d'origine (OEM)

Patrick Industries collabore avec les OEM dans plusieurs secteurs:

• OEM de fabrication de VR: 23 partenariats actifs
• OEM du secteur marin: 16 relations stratégiques
• OEM de l'équipement industriel: 11 collaborations clés

Secteur OEM	Contribution des revenus	Durée du contrat
Fabrication de VR	412,6 millions de dollars	3-5 ans
Marin	187,3 millions de dollars	2-4 ans
Industriel	93,5 millions de dollars	1 à 3 ans

Réseaux de distribution

Couverture du réseau de distribution sur les marchés de la fabrication nord-américaine:

• Centres de distribution des États-Unis: 14
• Emplacements de distribution canadienne: 3
• Couverture géographique totale: 37 États et 2 provinces canadiennes

Partners de collaboration de technologie et de conception

Type de collaboration	Nombre de partenaires	Investissement annuel
Technologie de conception	8	12,6 millions de dollars
Innovation manufacturière	6	9,3 millions de dollars
Transformation numérique	4	7,2 millions de dollars

Patrick Industries, Inc. (PATK) - Modèle d'entreprise: Activités clés

Fabrication de composants personnalisés et de produits d'ingénierie

En 2023, Patrick Industries a signalé des capacités de fabrication sur plusieurs segments:

Segment de fabrication	Volume de production annuel
Composants RV	1,8 milliard de dollars en produits manufacturés
Composants marins	412 millions de dollars en composants fabriqués
Structures d'ingénierie	635 millions de dollars en produits personnalisés

Conception et innovation des produits

L'investissement en R&D en 2023 a totalisé 24,3 millions de dollars, en se concentrant sur:

• Technologies de fabrication avancées
• Innovations en science matérielle
• Optimisation de la conception numérique

Intégration verticale des processus de fabrication

Installations de fabrication à partir de 2023:

Emplacement	Type d'installation	Capacité de production
Elkhart, Indiana	Complexe de fabrication primaire	12 lignes de production
Michigan	Fabrication de composants spécialisés	7 lignes de production
Texas	Installation de structures d'ingénierie	5 lignes de production

Fusions et acquisitions

2023 M&A Activité:

• Total des dépenses d'acquisition: 87,6 millions de dollars
• 3 acquisitions stratégiques des entreprises
• Portée du marché élargie dans les secteurs de la VR et marine

Améliorations continues de l'efficacité opérationnelle

Métriques opérationnelles pour 2023:

Métrique d'efficacité	Performance
Productivité de la fabrication	Amélioration de 18,4%
Initiatives de réduction des coûts	42,1 millions de dollars économisés
Implémentation d'automatisation	7 nouvelles lignes de production automatisées

Patrick Industries, Inc. (PATK) - Modèle d'entreprise: Ressources clés

Installations de fabrication avancées

En 2023, Patrick Industries exploite 38 installations de fabrication à travers les États-Unis. Fabrication totale en pieds carrés: 3,2 millions de pieds carrés.

Catégorie de localisation	Nombre d'installations	Superficie totale (sq ft)
Usines de fabrication	38	3,200,000
Centres de distribution	12	850,000

Génie et conception qualifiés

Le total des employés compte au T2 2023: 7 850 employés

• Personnel d'ingénierie: 620 professionnels
• Équipe de conception: 285 spécialistes
• Expérience d'ingénierie moyenne: 12,4 ans

Technologies de fabrication propriétaires

Investissement en R&D en 2023: 24,3 millions de dollars

Catégorie de technologie	Dénombrement des brevets	Investissement en développement
Brevets de processus de fabrication	47	12,6 millions de dollars
Brevets de conception de l'innovation	33	11,7 millions de dollars

Capacités d'approvisionnement en matériaux

Budget de l'approvisionnement en matériel annuel: 512,6 millions de dollars

• Fournisseurs domestiques: 214
• Fournisseurs internationaux: 86
• Diversité des fournisseurs: 42% petites / moyennes entreprises

Situation financière pour les investissements stratégiques

Mesures financières auprès du quatrième trimestre 2023:

Métrique financière	Montant
Equivalents en espèces et en espèces	87,4 millions de dollars
Actif total	1,2 milliard de dollars
Ligne de crédit disponible	250 millions de dollars

Patrick Industries, Inc. (PATK) - Modèle d'entreprise: propositions de valeur

Composants personnalisés de haute qualité pour diverses industries

Patrick Industries a déclaré 2,1 milliards de dollars de ventes nettes pour l'exercice 2022, avec des offres de produits couvrant des véhicules récréatifs, des marins marins, des logements manufacturés et d'autres marchés industriels.

Segment de l'industrie	Contribution des revenus
Véhicules récréatifs	1,3 milliard de dollars
Marin	350 millions de dollars
Logement manufacturé	250 millions de dollars
Autres marchés industriels	200 millions de dollars

Solution à guichet unique pour les besoins de fabrication complexes

En 2022, Patrick Industries a exploité 94 installations de fabrication à travers l'Amérique du Nord, offrant des capacités de fabrication complètes.

• Emplacements de fabrication totaux: 94
• Couverture géographique: États-Unis et Canada
• Capacités de fabrication: moulure d'injection, fabrication de métaux, traitement du bois

Développement rapide des produits et innovation

Patrick Industries a investi 43,2 millions de dollars dans la recherche et le développement en 2022, ce qui représente 2,1% des revenus totaux.

Métrique de R&D	Valeur 2022
Investissement en R&D	43,2 millions de dollars
R&D en% des revenus	2.1%

Solutions de fabrication rentables

La marge brute pour Patrick Industries en 2022 était de 24,3%, démontrant l'efficacité des processus de fabrication.

• 2022 Marge brute: 24,3%
• Résultat d'exploitation: 254,7 millions de dollars
• Revenu net: 181,3 millions de dollars

Intégration complète de la chaîne d'approvisionnement

Patrick Industries entretient des relations stratégiques avec plus de 1 500 fournisseurs dans plusieurs industries.

Métrique de la chaîne d'approvisionnement	Valeur 2022
Total des fournisseurs	1,500+
Diversité des fournisseurs	Industries multiples
Efficacité de la chaîne d'approvisionnement	Intégré verticalement

Patrick Industries, Inc. (PATK) - Modèle d'entreprise: relations avec les clients

Partenariats contractuels à long terme

En 2023, Patrick Industries a maintenu environ 87 contrats stratégiques à long terme avec les principaux fabricants de VR et partenaires de construction de maisons. La durée moyenne du contrat est de 3 à 5 ans, avec une valeur totale du contrat allant de 10 millions à 45 millions de dollars par partenariat.

Catégorie de partenaire	Nombre de contrats	Valeur du contrat moyen
Fabricants de VR	62	22,3 millions de dollars
Sociétés de construction à domicile	25	18,7 millions de dollars

Support technique et services de conception collaborative

Patrick Industries a investi 4,2 millions de dollars dans les infrastructures de support technique en 2023. La société maintient une équipe de soutien technique dédiée à 127 ingénieurs spécialisés.

• Temps de réponse moyen pour les demandes techniques: 2,4 heures
• Évaluation de satisfaction du client pour le support technique: 94,3%
• Projets annuels de conception collaborative: 43

Gestion de compte dédiée

L'entreprise emploie 52 gestionnaires de comptes dédiés dans ses principaux segments de marché. Chaque gestionnaire de compte supervise une moyenne de 7 à 9 relations avec les clients stratégiques.

Segment de marché	Gestionnaires de compte	Portefeuille de clients moyens
Fabrication de VR	32	8.6 CLIENTS
Logement manufacturé	12	7.3 clients
Bâtiment de maison personnalisé	8	6.9 clients

Service client réactif

En 2023, Patrick Industries a maintenu une équipe de service à la clientèle de 94 professionnels, gérant une moyenne de 1 247 interactions client chaque semaine.

• Temps de réponse moyen du service client: 1,6 heures
• Canaux de service client: téléphone, e-mail, portail en ligne
• Taux de rétention de la clientèle: 92,7%

Boucles de rétroaction d'amélioration des produits continues

La société a alloué 3,8 millions de dollars à la recherche et au développement de produits en 2023, avec 67% des améliorations provenant directement des mécanismes de rétroaction des clients.

• Enquêtes de rétroaction des clients annuels menés: 2
• Suggestions d'amélioration des produits traités: 312
• Améliorations implémentées par le client: 78%

Patrick Industries, Inc. (PATK) - Modèle d'entreprise: canaux

Équipes de vente directes

En 2023, Patrick Industries a maintenu une force de vente directe d'environ 187 professionnels de la vente ciblant les marchés de logements pour VR, marin et manufacturés.

Canal de vente	Nombre de représentants commerciaux	Segment du marché cible
Équipe de vente du marché RV	82	Fabricants de véhicules récréatifs
Équipe de vente de logements fabriqués	65	Fabricants de maisons modulaires
Équipe de vente de marché maritime	40	Fabricants d'équipements de bateau et maritime

Salons et expositions commerciales de l'industrie

Patrick Industries a participé à 17 salons majeurs de l'industrie en 2023, notamment:

• Salon commercial national des VR
• Salon international de logements manufacturés
• Salon nautique international de Miami
• Boat de Louisville, RV & Shatchow

Catalogues de produits en ligne et plateformes numériques

Les canaux de vente numériques inclus:

• Site Web de l'entreprise avec catalogue complet de produits
• Plateforme de commande en ligne avec accessibilité 24/7
• Configurateur de produit numérique pour des solutions personnalisées

Plate-forme numérique	Visiteurs mensuels du site Web	Pourcentage de commande en ligne
Site Web de Patrick Industries	42,500	22%

Réseaux représentatifs du fabricant

Patrick Industries a travaillé avec 63 sociétés représentatives des fabricants indépendants en Amérique du Nord en 2023.

Région	Nombre d'entreprises représentatives	Zone de couverture
Midwest	22	Illinois, Indiana, Ohio, Michigan
Au sud-est	18	Floride, Géorgie, Caroline du Nord
Côte ouest	12	Californie, Oregon, Washington
Nord-est	11	New York, Pennsylvanie, Massachusetts

Canaux de marketing numérique et de communication

La stratégie de marketing numérique incluse:

• Page d'entreprise LinkedIn à 15 500 abonnés
• Compte Twitter avec 8 200 abonnés
• Base de données de marketing par e-mail de 47 300 contacts de l'industrie

Canal numérique	Métriques d'engagement	Portée annuelle
Liendin	Taux d'engagement de 3,7%	612 000 impressions
E-mail marketing	Taux d'ouverture de 22%	1,4 million de courriels envoyés

Patrick Industries, Inc. (PATK) - Modèle d'entreprise: segments de clients

Fabricants de véhicules récréatifs

Patrick Industries sert de grands fabricants de VR avec une gamme complète de composants et de produits.

Top clients du fabricant de VR	Part de marché
Thor Industries	35.7%
Industries de Winnebago	18.2%
Rivière forestière	28.5%

Fabricants de l'industrie maritime

L'entreprise fournit des composants critiques aux fabricants de l'industrie maritime.

• Base de clients de fabrication maritime: 47 fabricants actifs
• Revenus d'offre de composants marins: 186,3 millions de dollars en 2022

Producteurs d'équipements industriels

Patrick Industries fournit des composants spécialisés pour la fabrication d'équipements industriels.

Segment d'équipement industriel	Contribution annuelle des revenus
Équipement de construction	124,7 millions de dollars
Équipement agricole	89,5 millions de dollars

COMMERCIALES DE CONSTRUCTION ET DE CONSTRUCTION

La société fournit des matériaux de construction et des composants aux entreprises de construction.

• Clients du segment de la construction: 215 entreprises de construction actives
• Revenus de composants de construction à domicile: 211,6 millions de dollars en 2022

Fabricants de composants automobiles

Patrick Industries fournit des composants automobiles spécialisés.

Type de client automobile	Ventes de composants annuels
Fournisseurs de niveau 1	142,9 millions de dollars
Fabricants d'équipements d'origine	98,3 millions de dollars

Patrick Industries, Inc. (PATK) - Modèle d'entreprise: Structure des coûts

Frais d'approvisionnement en matières premières

Pour l'exercice 2023, Patrick Industries a déclaré des frais d'approvisionnement en matières premières de 1 482 461 000 $.

Catégorie de matériel	Dépenses annuelles ($)
Résines en plastique	612,350,000
Composants métalliques	453,890,000
Matériaux en bois	416,221,000

Coûts de fabrication et d'exploitation

Les coûts totaux de fabrication et d'exploitation pour 2023 étaient de 837 265 000 $.

• Installation de production Frais d'exploitation: 356 412 000 $
• Logistique et transport: 214 653 000 $
• Contrôle de la qualité et tests: 66 200 000 $

Investissements de recherche et développement

Les dépenses de R&D pour 2023 ont totalisé 42 315 000 $, ce qui représente 1,8% du chiffre d'affaires total.

Zone de focus R&D	Investissement ($)
Innovation de produit	24,189,000
Optimisation du processus	12,126,000
Recherche avancée des matériaux	6,000,000

Gestion du travail et de la main-d'œuvre

Les coûts totaux de main-d'œuvre pour 2023 étaient de 521 694 000 $.

• Salaire de main-d'œuvre directe: 392 770 000 $
• Avantages sociaux: 128 924 000 $

Entretien de la technologie et de l'équipement

Les frais de maintenance de la technologie et de l'équipement pour 2023 s'élevaient à 97 563 000 $.

Catégorie de maintenance	Dépenses ($)
Équipement de fabrication	67,892,000
Infrastructure informatique	18,671,000
Logiciels et systèmes	11,000,000

Patrick Industries, Inc. (PATK) - Modèle d'entreprise: Strots de revenus

Ventes de fabrication de composants personnalisés

Pour l'exercice 2023, Patrick Industries a déclaré des ventes nettes totales de 4,67 milliards de dollars. Répartition des revenus de fabrication personnalisée:

Segment	Revenu
Composants marins	1,24 milliard de dollars
Composants RV	2,83 milliards de dollars
Composants industriels	0,60 milliard de dollars

Services de conception et d'ingénierie de produits

Contribution des revenus des services d'ingénierie:

• Revenus de services de conception intégrés: 87,5 millions de dollars
• Frais de conseil en ingénierie: 42,3 millions de dollars
• Solutions d'ingénierie personnalisées: 65,4 millions de dollars

Contrats du fabricant d'équipement d'origine

Spécifications des revenus du contrat OEM:

Type de contrat	Revenus annuels
Contrats OEM des véhicules récréatifs	1,95 milliard de dollars
Contrats OEM marins	0,76 milliard de dollars
Contrats OEM industriels	0,39 milliard de dollars

Ventes de composants du marché secondaire

Répartition des revenus du marché secondaire:

• Revenus de pièces de remplacement: 212,6 millions de dollars
• Accessoires de rechange: 156,4 millions de dollars
• Composants de service et de maintenance: 98,7 millions de dollars

Revenus stratégiques d'acquisition et d'expansion du marché

Contribution des revenus liés à l'acquisition:

Acquisition	Impact sur les revenus
Acquisitions stratégiques récentes	387,5 millions de dollars
Revenus d'expansion du marché	246,3 millions de dollars

Patrick Industries, Inc. (PATK) - Canvas Business Model: Value Propositions

You're looking at how Patrick Industries, Inc. delivers unique value to its customers, the Original Equipment Manufacturers (OEMs) in the Outdoor Enthusiast and Housing sectors. It's about being the single source for complex components, which simplifies the OEM's supply chain significantly.

Supply chain simplification through a single, full-solutions provider

Patrick Industries positions itself as a trusted partner that brings together design, manufacturing, distribution, and transportation. This full-solutions model is a core value proposition, helping customers manage complexity. Patrick is home to more than 85 leading brands, all focused on quality and service. This scale helps OEMs reduce the number of vendors they need to manage.

Increased content per unit

The company's value is increasingly embedded in the final product, evidenced by rising content per unit (CPU) across key segments as of the third quarter of 2025. This shows customers are opting for more of Patrick Industries' offerings per vehicle or unit produced. Here's the quick math on that trend:

End Market Segment	Trailing Twelve Month (TTM) Content Per Unit (Q3 2025)	Year-over-Year CPU Change (TTM Q3 2025)
Wholesale RV Unit	$5,055	Increased 3%
Wholesale Manufactured Housing (MH) Unit	$6,682	Increased 2%
Wholesale Powerboat Unit	$4,091	Increased 4%

The RV segment, which represented 44% of net sales in Q3 2025, saw its revenue climb 7% year-over-year to $426 million, even as wholesale industry unit shipments decreased by 2%. That CPU growth is key to offsetting shipment declines.

Customized, integrated technology solutions (e.g., digital switching)

Patrick Industries is actively integrating advanced electronics to meet growing customer preference for digital control systems. A prime example is the acquisition of Medallion Instrumentation Systems, LLC, which provides customized instrumentation and vehicle electronics. This brings specific capabilities directly into the portfolio:

• Digital switching
• Custom LCD touchscreen displays
• Integrated audio systems
• Gauges and controllers

Medallion's 2024 revenue was approximately $38 million, showing the scale of the technology component being added. This move purposefully connects existing product offerings into a complete technology solution.

Reliable delivery and quality assurance for OEM production lines

For manufacturers running tight production schedules, reliability is non-negotiable. Patrick Industries emphasizes its ability to support OEM production lines with consistent quality and delivery. The company's operational investments are aimed at augmenting performance when demand inflects, ensuring they can scale up quickly. The focus on market share gains across the portfolio in Q3 2025 suggests strong OEM confidence in their execution.

Diverse product offerings for the Outdoor Enthusiast and Housing markets

The value proposition is spread across multiple, resilient markets, which smooths out cyclical risks. Beyond RVs, the company serves Marine, Powersports, and Housing. Furthermore, strategic moves are expanding their material science offerings, such as unifying composite solutions under the Alpha Composites brand. The total addressable composites market is estimated at approximately $1.5 billion. This diversification means you're not just selling one thing; you're selling essential components across the entire recreation and housing ecosystem. The company maintained total net liquidity of approximately $779 million at the end of Q3 2025, which supports this broad investment strategy.

Finance: draft 13-week cash view by Friday.

Patrick Industries, Inc. (PATK) - Canvas Business Model: Customer Relationships

You're looking at how Patrick Industries, Inc. manages its connections with the manufacturers and end-users who buy its components. Honestly, for the OEM side, it's all about deep integration and being a single-source solution provider.

Dedicated, high-touch sales and service teams for OEM partners

Patrick Industries, Inc. emphasizes reinforcing strong customer relationships with its Original Equipment Manufacturers (OEMs) across the RV, Marine, Powersports, and Housing sectors. This high-touch approach is designed to capture more of the bill of materials for each unit. For instance, through the sales team's continued efforts and partnerships, the company secured over $100 million in new business tied to the 2026 model year in its outdoor enthusiast end markets as of Q2 2025. The company is home to more than 85 leading brands, all aligned around quality and customer service, which supports this deep relationship strategy.

Integrated design and engineering support for customized solutions

The value proposition here is integrating design and engineering to embed more content into the final product, which helps customers simplify their supply chain. This integrated approach is key to driving higher content per unit. We see evidence of this success in the third quarter of 2025, where content per wholesale RV unit on a trailing twelve-month (TTM) basis reached $5,055, marking a 3% increase year-over-year. Similarly, the TTM content per wholesale Manufactured Housing (MH) unit stood at $6,682, up 2% from the prior year period.

Long-term, strategic partnerships with key manufacturers

Patrick Industries, Inc. views its OEM connections as strategic partnerships, focusing on delivering a full solutions model that covers design, manufacturing, distribution, and transportation. This is how they aim to become a trusted partner rather than just a supplier. The company's Q3 2025 results showed that revenue increased across all four primary end markets, demonstrating the strength of these partnerships even when industry unit shipments were down in some areas. For example, RV revenue grew 7% to $426 million in Q3 2025, while wholesale RV industry unit shipments decreased 2%.

Relationship management focused on reducing customer vendor risk

A core benefit Patrick Industries, Inc. offers its OEM customers through these deep relationships is meaningful supply chain simplification and overall cost savings, which directly reduces vendor risk. By providing a broader suite of components, they reduce the number of necessary vendor relationships for the manufacturer. This focus on a full solution strategy is a deliberate effort to bolster the resilience of their business model.

Self-service and direct sales for aftermarket brands like RecPro

The aftermarket channel operates differently, relying on a multi-pronged approach that includes direct-to-consumer, third-party distribution, and direct-to-dealer sales, anchored by the RecPro platform acquired in September 2024. This segment is managed with a distinct structure to capture value outside the OEM production cycle. The integration of this division is already showing results; since the acquisition, close to 400 or 500 SKUs have been added through SKU cross-pollination between the platforms. The company noted that the adjusted gross margin improvement in Q2 2025 reflected the positive impact of this margin-accretive aftermarket acquisition.

Here's a quick look at the segment revenue contribution and content growth as of the third quarter of 2025:

End Market Segment	Q3 2025 Revenue (Millions USD)	Revenue % of Net Sales (Q3 2025)	TTM Content Per Unit Growth (vs. LY)
RV	$426	44%	3% (RV CPU: $5,055)
Housing (MH/Industrial)	$302	31%	2% (MH CPU: $6,682)
Marine	$150	15%	4% (Powerboat CPU: $4,091)
Powersports	$98	10%	Data not explicitly stated as TTM growth vs LY in the same table format

The aftermarket strategy is focused on driving value through this diverse set of sales channels. Finance: draft 13-week cash view by Friday.

Patrick Industries, Inc. (PATK) - Canvas Business Model: Channels

Direct sales and distribution to Original Equipment Manufacturers (OEMs) form the core of Patrick Industries, Inc.'s channel strategy, serving the RV, Marine, Powersports, and Housing markets.

For the third quarter ended September 28, 2025, Patrick Industries, Inc. reported total net sales of $976 million. This was an increase of 6% compared to the third quarter of 2024. The RV segment, which heavily relies on OEM channels, generated revenue of $426 million in Q3 2025, representing 44% of total net sales.

The company supports these direct sales with an extensive physical footprint.

• Network of 190+ Manufacturing and distribution facilities across the United States.
• Operations span coast-to-coast in the United States, with a small presence in Mexico, China, and Canada.

Patrick Industries, Inc. is actively expanding its aftermarket sales channels for replacement parts and accessories. This formal strategy was rolled out following the September 2024 acquisition of ICON Direct, Inc., which operates the RecPro direct-to-consumer (DTC) platform. The Q3 2025 acquisition of LilliPad Marine, LLC further bolstered this channel, as LilliPad distributes its products through both OEM and aftermarket channels.

The aftermarket strategy encompasses multiple avenues for reaching the end-user:

• The RecPro direct-to-consumer (DTC) model.
• Third-party distribution networks.
• Direct-to-dealer sales.

Integrated logistics and transportation services to customer plants are a key component of the Full Solution Model, ensuring seamless delivery from concept to completion. The company's ability to provide these services is supported by its scale and infrastructure.

The following table summarizes key financial and operational metrics relevant to channel performance as of late 2025 reporting periods:

Metric	Value (Q3 2025)	Value (Q2 2025)	Context/Guidance
Net Sales	$976 million	$1.05 billion	Q3 2025 Net Sales, Q2 2025 Net Sales
RV Segment Revenue (OEM Focus)	$426 million	N/A	Represents 44% of Q3 2025 Net Sales
Marine Segment Revenue	$150 million	$156 million	Q3 2025 Revenue, Q2 2025 Revenue
Total Employees	Approx. 10,000	N/A	As of October 2025
FY 2025 Adjusted Operating Margin Guidance	7.0% - 7.3%	N/A	Full Fiscal Year 2025 Outlook

Digital platforms are utilized for certain direct-to-consumer (DTC) brands, most notably the RecPro aftermarket platform, which was integrated via acquisition in September 2024. This digital presence allows Patrick Industries, Inc. to directly engage the end-user market, separate from its primary OEM-focused channels.

Patrick Industries, Inc. (PATK) - Canvas Business Model: Customer Segments

You're looking at the core of Patrick Industries, Inc.'s business right now, specifically how they break down their sales across their main customer groups as of late 2025. Honestly, it's all about diversification, but the RV market still drives the bus.

Patrick Industries, Inc.'s total net sales for the third quarter of 2025 hit $976 million, showing a 6% increase year-over-year, which is solid given some industry headwinds.

Here's the quick math on how those customer segments stacked up in Q3 2025:

Customer Segment	Percentage of Net Sales (Q3 2025)	Q3 2025 Revenue	Year-over-Year Revenue Growth
Recreational Vehicle (RV) Manufacturers	44%	$426 million	7%
Manufactured Housing (MH) and Industrial Housing Builders	31%	$302 million	1%
Marine (Powerboat) Original Equipment Manufacturers	15%	$150 million	11%
Powersports Vehicle Manufacturers and Aftermarket Retailers	10%	$98 million	12%

The company is clearly leaning into increasing the value of what it sells to each unit, even when the overall industry shipment numbers aren't booming. For instance, the RV segment saw a 2% decrease in wholesale industry unit shipments, but Patrick's revenue still grew 7% because content per unit was up 3% to $5,055.

Recreational Vehicle (RV) Manufacturers (largest segment, about 44% of Q3 2025 revenue)

This remains the bedrock of Patrick Industries, Inc.'s revenue base, accounting for 44% of the total $976 million in Q3 2025 sales. The segment brought in $426 million, a 7% increase from the prior year, even though wholesale RV industry unit shipments were down 2%. This outperformance shows their success in embedding more components into each vehicle. The estimated content per wholesale RV unit on a trailing twelve-month basis increased 3% to $5,055.

Manufactured Housing (MH) and Industrial Housing Builders (about 31% of Q3 2025 revenue)

The Housing segment, which includes Manufactured Housing and Industrial, represents 31% of the total revenue, contributing $302 million in the quarter, a modest 1% growth. This growth happened while estimated wholesale MH industry unit shipments fell by 2%. The value added per unit is key here; the estimated content per wholesale MH unit (TTM) rose 2% to $6,682.

Marine (Powerboat) Original Equipment Manufacturers

The Marine segment posted robust growth, increasing revenue by 11% to reach $150 million, which is 15% of the total sales. This was achieved while estimated wholesale powerboat industry unit shipments were flat. The content per unit for marine was up 4% to $4,091 on a TTM basis. Patrick completed the acquisition of LilliPad Marine, LLC during this period, strengthening this customer base.

Powersports Vehicle Manufacturers and Aftermarket Retailers

Powersports was the fastest-growing area, with revenue jumping 12% year-over-year to $98 million, making up 10% of the company's sales. This segment's success is tied to specific customer actions:

• Attachment rates for premium utility vehicle content improved.
• Revenue grew in Patrick's other Powersports businesses.
• This segment is showing strong revenue momentum.

Finance: draft 13-week cash view by Friday.

Patrick Industries, Inc. (PATK) - Canvas Business Model: Cost Structure

You're looking at the cost side of Patrick Industries, Inc. (PATK) as of late 2025. The structure is heavily weighted toward the direct costs of making and moving their components for the RV and Housing markets.

Variable costs are definitely dominated by raw material and component procurement. For the fiscal quarter ending September 30, 2025, the Cost of Goods Sold was $754.67M, which is a significant portion of the $975.63M in net sales for that same period. This high proportion suggests that material price fluctuations directly hit the bottom line quickly.

Manufacturing and labor costs are significant, given the scale of operations. Patrick Industries employs approximately 10,000 skilled team members throughout the United States. Managing this workforce efficiently, especially across their manufacturing segment, is a major ongoing expense.

Fixed costs stem from operating a large network of facilities. While the exact number of facilities isn't published, Patrick is home to more than 85 leading brands, implying a wide footprint requiring substantial overhead. For the quarter ending September 30, 2025, total Operating Expenses were $909.34M, which captures a mix of fixed and semi-variable SG&A (Selling, General, and Administrative) costs.

Interest expense on debt is a notable fixed financial cost. The total debt at the end of the third quarter was approximately $1.3 billion. You should budget for interest expense on debt, estimated at $79.5 million for the full Fiscal Year 2025.

Capital expenditure (CapEx) is an ongoing investment to keep the cost structure competitive, focusing on automation and efficiency initiatives. For the full year 2025, the company projected CapEx between $70 to $80 million. Quarterly spend reflects this, with Q2 2025 CapEx at $18 million and Q3 2025 CapEx at $26 million, which the company explicitly links to automation and process modernization.

Here's a quick look at some of the key cost and expense figures from the 2025 reporting periods:

Cost Component	Period	Amount (USD)
Trailing Twelve Month Revenue	As of 9/30/2025	$3.87 Billion
Cost of Sales (Cost of Revenue)	Q3 2025 (Quarterly)	$754.67 Million
Total Operating Expenses	Q3 2025 (Quarterly)	$909.34 Million
Total Employees	As of Late 2025	10,000
Interest Expense on Debt	FY 2025 (Estimated)	$79.5 Million
Capital Expenditures (CapEx)	FY 2025 (Projected Range)	$70 Million to $80 Million
Capital Expenditures (CapEx)	Q3 2025 (Actual)	$26 Million

The company's total debt at the end of Q3 2025 stood at approximately $1.3 billion. Finance: draft 13-week cash view by Friday.

Patrick Industries, Inc. (PATK) - Canvas Business Model: Revenue Streams

You're looking at how Patrick Industries, Inc. actually brings in its money as of late 2025. It's all about supplying components across four main end markets, and the numbers from the third quarter give a clear picture of where the revenue is coming from.

The Total net sales of $976 million in the third quarter of 2025 shows the scale of the operation, which was up 6% year-over-year, driven by organic growth and acquisitions. This total revenue is spread across the company's primary end markets.

The core of the revenue comes from supplying original equipment manufacturers (OEMs) in the recreational vehicle (RV) sector. This stream is substantial, with the RV segment generating $426 million in revenue for the third quarter, making up 44% of the total net sales. This revenue stream is built on:

• Component and solution sales to RV OEMs, including items like furniture, laminates, and electronics.
• Content per wholesale RV unit (trailing twelve-month basis) was reported at $5,055 as of Q3 2025.

Next up is the Housing market, which provides steady revenue through building products. For the third quarter of 2025, the Housing segment brought in $302 million, accounting for 31% of consolidated sales. This revenue is tied to:

• Sales of building products to Housing manufacturers, such as cabinets and bath fixtures.
• Estimated content per wholesale Manufactured Housing (MH) unit (TTM) stood at $6,682 in Q3 2025.

The Outdoor Enthusiast markets, specifically Marine and Powersports, also contribute significantly. The Marine segment posted revenue of $150 million in Q3 2025, which is 15% of the total. The Powersports segment's revenue is the remainder of the reported segments. This area involves:

• Marine and Powersports component sales, including towers, instrumentation, and covers.
• The recent acquisition of LilliPad Marine, LLC, which distributes award-winning and patented products through OEM and aftermarket channels, is set to bolster this area.
• Estimated content per wholesale powerboat unit (TTM) was $4,091 in Q3 2025.

Here's a quick look at the revenue breakdown by segment for the third quarter of 2025:

End Market Segment	Q3 2025 Revenue (Millions USD)	Percentage of Total Net Sales
RV	$426	44%
Housing	$302	31%
Marine	$150	15%
Powersports	(Implied Remainder)	(Implied Remainder)

Don't forget the aftermarket product sales, which are often margin-accretive. The acquisition of LilliPad Marine, for example, explicitly brings in aftermarket channel distribution. While the exact dollar amount for aftermarket sales isn't broken out separately in the headline numbers, the focus on this channel suggests it's a key driver for profitability, complementing the large OEM-driven revenue base. The company's total net liquidity was $779 million at the end of the quarter, and trailing twelve-month free cash flow reached $211 million, giving Patrick Industries the financial foundation to pursue these margin-accretive opportunities.