Pattern Group Inc.
Rank #8HypergrowthPTRN · Nasdaq · Consumer Cyclical
Pattern Group Inc. (PTRN) — Rank #8 by gross profitability (GP/assets 1.02) · ROE 2.5% · Piotroski F-Score 5 / 9.
As-of 2026-09-15 · CIK 0001811935 · all metrics point-in-time as of the filing date.
About
Pattern Group Inc. operates as an e-commerce accelerator that combines proprietary technology and on-demand expertise to support consumer brands operating across e-commerce marketplaces in the United States and internationally.
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The company acquires inventory from brand partners to sell to consumers in various industries, including health and wellness; beauty and personal care; home and lifestyle; pet; sports and outdoors; and consumer electronics. The company was formerly known as Covalent Group, Inc. and changed its name to Pattern Group Inc. in November 2024. Pattern Group Inc.
was incorporated in 2018 and is headquartered in Lehi, Utah.
- Industry
- Internet Retail
- Sector
- Consumer Cyclical
- State
- DE
- Filer Category
- Non-accelerated filer
- Fiscal Year End
- December 31
- Website
- pattern.com
Price History
Company Snapshot
P/S is the primary valuation lens — earnings are reinvested, not available for P/E.
Market Cap
$3.83B
P/E (annual)
—
P/S (annual)
1.5
P/B
5.9
P/OCF (annual)
38.5
Shareholder Yield
-26.7%
Employees
2,300
Industry
Internet Retail
Exchange
Nasdaq
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
1/2 passTerry Smith quality gate
Passes 1/5 Terry Smith thresholds1 of 5 threshold not computable from filed data.
What Growth Is Priced In
Implied revenue growth (10Y)
12.3%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Dilution drag: 26.7% — per-share value needs a total required return of 39.0% once share-count change is priced in.
vs. own 6-year median revenue growth: 39.3%
within its own historyCost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
7.7%
r = 10% (base)
12.3%
r = 12%
16.3%
Net debt / market cap: -15.6%
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / S
Price / revenue per share
P / B
Price / book value per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
Revenue growth and the path to profitability (margin trend) are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
1.02
Primary signal (Novy-Marx).
2nd of 7 SIC 5961 peers
Return on equity
2.5%
Gross margin
43.6%
4th of 7 SIC 5961 peers
Revenue growth (YoY)
39.3%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2023 | 2024 | 2025 | |
|---|---|---|---|
| Revenue vs COGS | |||
| Revenue vs OpEx | |||
| Op. Income vs Revenue |
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
0.66
Current ratio
2.35×
4th of 7 SIC 5961 peers
Quick ratio
1.46×
Net cash
$345.83M
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$78.92M
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
3.86
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
3.9%
Stock-based comp intensity.
Piotroski F-Score
F-Score
5 / 9
Fundamental-strength score (0-9).