PAX vs PCQ

Patria Investments Limited vs PIMCO California Municipal Inco — Valuation Comparison 2026

By CirclFi Research Team · Updated 2026-06-03 · Data from SEC EDGAR, FRED & GDELT

Quick Summary — PAX scores higher on quality with 7.9/10 vs PCQ's 1.8/10. PAX trades at $11.62 while PCQ trades at $8.89. Both analyzed daily using SEC EDGAR data across 13 institutional models.

PAX

Asset Management
Patria Investments Limited
Quality
7.9
out of 10
Value Trap
12
SAFE
Price
$11.62
Last close
Models
12/13
Active
VS

PCQ

Asset Management
PIMCO California Municipal Inco
Quality
1.8
out of 10
Value Trap
Price
$8.89
Last close
Models
11/13
Active
PAX
2 models active
Limited to 2/13 visible models
PCQ
2 models active
Quality 1.8/10 — below average

PAX vs PCQ — Fair Value Comparison

PAX
$0$5$9$14 Price$11.62 Bayesian …$3.90 (-66.4%) Earnings …$3.93 (-66.2%)
PCQ
$0$3$7$10 Price$8.89 Bayesian …$2.31 (-74.0%) Markov DDM$7.04 (-20.8%)
Market Price Model 1 Model 2

Model-by-Model Comparison

ModelType PAX Fair ValuePAX Upside PCQ Fair ValuePCQ Upside
Bayesian DCF Intrinsic $3.90 -66.4% $2.31 -74.0%
Earnings Power Value Intrinsic $3.93 -66.2%
EROIC Spread Intrinsic $•••.•• ••.•% $•••.•• ••.•%
First Chicago Scenario $•••.•• ••.•% $•••.•• ••.•%
Markov DDM Intrinsic $8.08 -36.0% $7.04 -20.8%
ML-RIV Intrinsic $•••.•• ••.•% $•••.•• ••.•%
Dynamic NAV Asset-Based $•••.•• ••.•% $•••.•• ••.•%
PWERM Option-Based $•••.•• ••.•% $•••.•• ••.•%
Regime Cross-Sectional Relative $•••.•• ••.•% $•••.•• ••.•%
Sentiment SOTP Hybrid $•••.•• ••.•% $•••.•• ••.•%
CUCE Ensemble Ensemble $•••.•• ••.•% $•••.•• ••.•%
FTNN Topology Relative $•••.•• ••.•% $•••.•• ••.•%
RCMH-DCF Intrinsic $•••.•• ••.•% $•••.•• ••.•%

PAX vs PCQ — Which Stock Is More Undervalued in 2026?

PAX scores higher with a 7.9/10 quality rating vs PCQ's 1.8/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

How Do PAX and PCQ Valuations Compare?

At $11.62, PAX trades +66.4% above its Bayesian DCF fair value of $3.90, while PCQ at $8.89 trades +74.0% above its estimate of $2.31. PCQ shows a wider gap between price and intrinsic value.

Quality of Company: PAX vs PCQ

PAX earns a Quality of Company score of 7.9/10 compared to PCQ's 1.8/10. This is a significant quality gap — the higher-scoring company demonstrates materially stronger fundamentals across profitability, growth consistency, and balance sheet health. The QOC score synthesizes 32 signals spanning profitability margins, revenue growth, free cash flow, capital allocation, and leverage.

Value Trap Risk: PAX vs PCQ

Review the value trap analysis for both PAX and PCQ to assess whether apparent undervaluation reflects genuine opportunity or hidden fundamental risk.

Both in Asset Management

Both PAX and PCQ operate in Asset Management, which has 448 stocks tracked by CirclFi. Same-industry comparisons provide the most direct insight into relative valuation since both companies face similar regulatory environments, market dynamics, and competitive pressures. Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN), and ensemble methods (CUCE).

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