Photronics Inc (PLAB) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 14, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q4 FY2026, filed Sep 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PLAB SEC filings page.
Photronics Inc (PLAB) reported $849.3M in revenue for fiscal year 2025, down 2.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Photronics remains profitable and lightly debt-funded, but rising reinvestment is converting less operating cash into free cash flow.
Between FY2023 and FY2025, operating cash flow fell18.0% , while free cash flow fell65.1% ; the divergence points to reinvestment, not a collapse in cash generated by operations. Capital expenditures reached$188M in FY2025 as assets climbed to$1.8B , showing a business absorbing substantial capital even while sales were lower.
Revenue slipped from
The balance sheet is conservative on debt: total liabilities more than doubled from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Photronics Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Photronics Inc has an operating margin of 24.5%, meaning the company retains $25 of operating profit per $100 of revenue. This strong profitability earns a score of 87/100, reflecting efficient cost management and pricing power. This is down from 25.6% the prior year.
Photronics Inc's revenue declined 2.0% year-over-year, from $866.9M to $849.3M. This contraction results in a growth score of 22/100.
Photronics Inc carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 97/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 5.37, Photronics Inc holds $5.37 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 93/100.
Photronics Inc converts 7.0% of revenue into free cash flow ($59.7M). This strong cash generation earns a score of 71/100.
Photronics Inc earns a strong 11.6% return on equity (ROE), meaning it generates $12 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 77/100. This is down from 11.7% the prior year.
Photronics Inc scores 3.57, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Photronics Inc passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Photronics Inc generates $1.82 in operating cash flow ($247.8M OCF vs $136.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Photronics Inc generated $216.0M in revenue in Q4 2026. This represents an increase of 2.7% from the same quarter a year earlier. Against the prior quarter it is up 2.9%.
Photronics Inc's EBITDA was $66.5M in Q4 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 0.7% from the same quarter a year earlier. Against the prior quarter it is up 6.9%.
Photronics Inc reported $28.9M in net income in Q4 2026. This represents an increase of 26.3% from the same quarter a year earlier. Against the prior quarter it is down 8.0%.
Photronics Inc earned $0.49 per diluted share (EPS) in Q4 2026. This represents an increase of 25.6% from the same quarter a year earlier. Against the prior quarter it is down 9.3%.
Cash & Balance Sheet
Photronics Inc generated $39.4M in free cash flow in Q4 2026, representing cash available after capex. This represents an increase of 56.1% from the same quarter a year earlier. Against the prior quarter it is up 3102.0%.
Photronics Inc held $549.5M in cash against $4K in long-term debt as of Q4 2026.
Not reported for Q4 2026.
Margins & Returns
Photronics Inc's gross margin was 33.2% in Q4 2026, indicating the percentage of revenue retained after direct costs. This is down 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.9 percentage points.
Photronics Inc's operating margin was 21.1% in Q4 2026, reflecting core business profitability. This is down 1.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.0 percentage points.
Photronics Inc's net profit margin was 13.4% in Q4 2026, showing the share of revenue converted to profit. This is up 2.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.6 percentage points.
Photronics Inc's ROE was 2.3% in Q4 2026, measuring profit generated per dollar of shareholder equity. This is up 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.3 percentage points.
Capital Allocation
Photronics Inc invested $3.7M in research and development in Q4 2026. This represents a decrease of 13.2% from the same quarter a year earlier. Against the prior quarter it is up 31.4%.
Photronics Inc repurchased no shares in Q4 2026. This represents a decrease of 100.0% from the same quarter a year earlier.
Photronics Inc invested $37.0M in capex in Q4 2026, funding long-term assets and infrastructure. This represents an increase of 48.9% from the same quarter a year earlier. Against the prior quarter it is down 19.3%.
PLAB Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $216.0M+2.7% | $209.9M-0.5% | $225.1M+6.1% | $210.4M-5.5% | $211.0M0.0% | $212.1M-2.2% | $222.6M-2.1% | $211.0M-5.9% |
| Cost of Revenue | $144.3M+3.4% | $144.2M+8.3% | $146.4M+7.1% | $139.5M-0.6% | $133.1M-2.0% | $136.6M-0.8% | $140.3M-1.6% | $135.8M-1.1% |
| Gross Profit | $71.7M+1.2% | $65.8M-15.6% | $78.7M+4.2% | $70.9M-13.9% | $77.9M+3.7% | $75.5M-4.7% | $82.3M-3.0% | $75.1M-13.4% |
| R&D Expenses | $3.7M-13.2% | $2.8M-31.0% | $2.6M-39.2% | $4.3M-19.2% | $4.1M+15.0% | $4.3M-0.8% | $5.3M+56.9% | $3.6M+1.4% |
| SG&A Expenses | $22.5M+22.4% | $20.8M+14.7% | $21.3M+11.6% | $18.4M-12.3% | $18.1M-6.9% | $19.1M+0.6% | $21.0M+25.6% | $19.4M+7.8% |
| Operating Income | $45.5M-5.5% | $42.2M-24.3% | $54.9M+5.1% | $48.2M-13.7% | $55.7M+6.8% | $52.2M-6.9% | $55.8M-13.8% | $52.1M-20.1% |
| EBITDA | $66.5M-0.7% | $62.2M-17.4% | $74.7M+2.3% | $67.0M-12.6% | $75.3M+4.2% | $73.0M-5.0% | $76.6M-10.6% | $72.3M-15.7% |
| Income Tax | $11.0M+14.5% | $10.6M+85.6% | $14.4M-24.1% | $9.6M-34.1% | $5.7M-59.5% | $18.9M-6.5% | $14.6M-28.2% | $14.1M-12.3% |
| Net Income | $28.9M+26.3% | $31.4M+254.7% | $42.9M+0.2% | $22.9M-32.4% | $8.9M-74.2% | $42.9M+18.2% | $33.9M-24.1% | $34.4M+27.6% |
| EPS (Basic) | $0.50+25.0% | $0.54+260.0% | $0.74+7.2% | $0.40-27.3% | $0.15-73.2% | $0.69+16.9% | $0.55-24.7% | $0.56+27.3% |
| EPS (Diluted) | $0.49+25.6% | $0.54+260.0% | $0.74+8.8% | $0.39-27.8% | $0.15-72.7% | $0.68+17.2% | $0.54-25.0% | $0.55+25.0% |
| Diluted Shares (Avg) | 59M+1.1% | 59M-3.7% | 58M-6.8% | 58M | 61M-2.3% | 63M+0.4% | N/A | 62M+0.7% |
Not reported in any period shown, so not listed: Interest Expense.
PLAB Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.0B+13.6% | $1.9B+13.4% | $1.9B+11.5% | $1.8B+2.4% | $1.7B+3.5% | $1.7B+6.3% | $1.7B+12.2% | $1.6B+9.4% |
| Current Assets | $974.9M+11.8% | $943.9M+10.3% | $946.2M+2.8% | $872.2M-6.3% | $855.8M-4.1% | $920.8M+9.1% | $931.1M+18.5% | $892.6M+15.6% |
| Cash & Equivalents | $549.5M+14.6% | $511.5M-3.6% | $544.1M-15.3% | $479.5M-19.9% | $530.7M-1.2% | $642.2M+30.0% | $598.5M+19.9% | $537.3M+19.8% |
| Short-Term Investments | $123.3M+28.1% | $126.2M+355.5% | $92.7M | $96.3M+128.2% | $27.7M-59.9% | $0-100.0% | $42.2M+226.6% | $69.0M+152.7% |
| Inventory | $64.7M+2.0% | $67.8M+10.8% | $62.7M+8.8% | $63.5M+12.3% | $61.2M+10.3% | $57.6M+6.1% | $56.5M+13.1% | $55.5M+0.2% |
| Accounts Receivable | $187.7M-1.6% | $189.0M-3.6% | $199.5M+5.9% | $190.9M-5.0% | $196.0M-2.0% | $188.4M-4.6% | $200.8M+3.0% | $199.9M-3.0% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $710.0M+13.2% | $689.6M+14.5% | $690.0M+19.6% | $627.2M+6.1% | $602.1M+4.3% | $576.9M+1.5% | $591.2M+135.9% | $577.1M+129.5% |
| Current Liabilities | $197.3M+12.8% | $187.0M+12.1% | $206.6M+27.1% | $174.9M-4.8% | $166.8M-12.7% | $162.6M-16.8% | $183.8M-0.8% | $191.1M+0.2% |
| Non-Current Liabilities | $512.8M+13.4% | $502.6M+15.5% | $483.4M+16.7% | $452.3M+11.0% | $435.3M+12.8% | $414.3M+11.1% | $407.4M+523.0% | $386.0M+534.7% |
| Long-Term Debt | $4K-75.0% | $3.9M+20178.9% | $10K-52.4% | $16K-36.0% | $19K-32.1% | $21K-99.1% | $25K-99.9% | $28K-99.9% |
| Total Equity | $1.3B+13.8% | $1.2B+12.7% | $1.2B+7.4% | $1.1B+0.4% | $1.1B+3.1% | $1.1B+9.0% | $1.1B+15.0% | $1.1B+11.1% |
| Retained Earnings | $874.7M+23.1% | $845.8M+21.1% | $814.3M+11.3% | $710.4M+2.7% | $698.4M+6.2% | $731.7M+17.3% | $691.8M+23.3% | $657.9M+27.4% |
Not reported in any period shown, so not listed: Goodwill.
PLAB Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $76.3M+52.5% | $47.0M+49.5% | $97.3M+23.9% | $50.1M-26.8% | $31.5M-58.1% | $78.5M+2.6% | $68.4M-35.9% | $75.1M-12.6% |
| Depreciation & Amortization | $21.0M+11.4% | $20.0M+2.1% | $19.8M-4.8% | $18.8M-9.5% | $19.6M-2.6% | $20.8M0.0% | $20.8M-0.6% | $20.1M-1.5% |
| Stock-Based Compensation | $3.9M+17.2% | $3.7M+10.4% | $2.9M-14.5% | $3.3M | $3.4M+1.0% | $3.3M-15.1% | N/A | $3.3M+63.6% |
| Capital Expenditures | $37.0M+48.9% | $45.8M-24.4% | $47.6M+35.3% | $24.8M-42.5% | $60.5M+147.9% | $35.2M+76.0% | $43.2M-17.7% | $24.4M+15.8% |
| Free Cash Flow | $39.4M+56.1% | $1.2M+104.2% | $49.6M+14.7% | $25.2M+0.2% | -$29.1M-157.4% | $43.3M-23.4% | $25.2M-53.5% | $50.7M-21.8% |
| Investing Cash Flow | -$32.9M+64.6% | -$77.6M+11.5% | -$40.3M-688.4% | -$92.8M-543.8% | -$87.7M-220.6% | $6.8M+109.4% | -$14.4M+61.4% | -$27.4M-1286.4% |
| Financing Cash Flow | $77K+100.4% | -$1.2M+98.4% | $749K+103.7% | -$20.2M-1452.4% | -$74.6M-4285.3% | -$20.5M-1003.3% | -$1.3M+37.7% | -$1.7M-46.6% |
| Share Buybacks | $0-100.0% | $0-100.0% | $0-100.0% | $20.7M | $72.1M | $4.6M | $0 | $0 |
Not reported in any period shown, so not listed: Dividends Paid.
PLAB Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 33.2%-0.5pp | 31.3%-5.6pp | 35.0%-0.6pp | 33.7%-3.3pp | 36.9%+1.3pp | 35.6%-0.9pp | 37.0%-0.4pp | 35.6%-3.1pp |
| Operating Margin | 21.1%-1.8pp | 20.1%-6.3pp | 24.4%-0.2pp | 22.9%-2.2pp | 26.4%+1.7pp | 24.6%-1.2pp | 25.1%-3.4pp | 24.7%-4.4pp |
| Net Margin | 13.4%+2.5pp | 15.0%+10.8pp | 19.1%-1.1pp | 10.9%-4.3pp | 4.2%-12.1pp | 20.2%+3.5pp | 15.2%-4.4pp | 16.3%+4.3pp |
| Return on Equity | 2.3%+0.2pp | 2.5%+1.7pp | 3.5%-0.3pp | 2.0%-1.0pp | 0.8%-2.4pp | 3.8%+0.3pp | 3.0%-1.6pp | 3.2%+0.4pp |
| Return on Assets | 1.5%+0.1pp | 1.6%+1.1pp | 2.3%-0.3pp | 1.3%-0.7pp | 0.5%-1.6pp | 2.5%+0.3pp | 2.0%-0.9pp | 2.1%+0.3pp |
| Current Ratio | 4.940.0x | 5.05-0.1x | 4.58-1.1x | 4.99-0.1x | 5.13+0.5x | 5.66+1.3x | 5.07+0.8x | 4.67+0.6x |
| Debt-to-Equity | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x |
| Asset Turnover | 0.110.0x | 0.110.0x | 0.120.0x | 0.120.0x | 0.120.0x | 0.120.0x | 0.130.0x | 0.130.0x |
| FCF Margin | 18.2%+6.2pp | 0.6%+14.4pp | 22.1%+1.7pp | 12.0%+0.7pp | -13.8%-37.8pp | 20.4%-5.6pp | 11.3%-12.5pp | 24.0%-4.9pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Photronics Inc PLAB | FY2025 | $849.3M | $136.4M | 16.1% | $1.7B | 75/100 |
| Ultra Clean Holdings, Inc. UCTT | FY2025 | $2.1B | -$181.2M | -8.8% | $2.9B | 48/100 |
| Veeco Instruments Inc VECO | FY2025 | $664.3M | $35.4M | 5.3% | $3.0B | 57/100 |
| Daqo New Energy Corp. DQ | FY2025 | $665.4M | -$170.5M | -25.6% | $740.9M | 33/100 |
| ACM Research, Inc. ACMR | FY2025 | $901.3M | $94.1M | 10.4% | $4.7B | 71/100 |
| Cohu Inc COHU | FY2025 | $453.0M | -$74.3M | -16.4% | $3.1B | 40/100 |
Where Photronics Inc Ranks
Frequently Asked Questions
What is Photronics Inc's annual revenue?
Photronics Inc (PLAB) reported $849.3M in total revenue for fiscal year 2025. This represents a -2.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Photronics Inc's revenue growing?
Photronics Inc (PLAB) revenue declined by 2.0% year-over-year, from $866.9M to $849.3M in fiscal year 2025.
Is Photronics Inc profitable?
Yes, Photronics Inc (PLAB) reported a net income of $136.4M in fiscal year 2025, with a net profit margin of 16.1%.
What is Photronics Inc's EBITDA?
Photronics Inc (PLAB) had EBITDA of $285.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Photronics Inc have?
As of fiscal year 2025, Photronics Inc (PLAB) had $492.3M in cash and equivalents against $13K in long-term debt.
What is Photronics Inc's gross margin?
Photronics Inc (PLAB) had a gross margin of 35.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Photronics Inc's operating margin?
Photronics Inc (PLAB) had an operating margin of 24.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Photronics Inc's net profit margin?
Photronics Inc (PLAB) had a net profit margin of 16.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Photronics Inc's return on equity (ROE)?
Photronics Inc (PLAB) has a return on equity of 11.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Photronics Inc's free cash flow?
Photronics Inc (PLAB) generated $59.7M in free cash flow during fiscal year 2025. This represents a -54.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Photronics Inc's operating cash flow?
Photronics Inc (PLAB) generated $247.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Photronics Inc's total assets?
Photronics Inc (PLAB) had $1.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Photronics Inc's capital expenditures?
Photronics Inc (PLAB) invested $188.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Photronics Inc spend on research and development?
Photronics Inc (PLAB) invested $15.8M in research and development during fiscal year 2025.
What is Photronics Inc's current ratio?
Photronics Inc (PLAB) had a current ratio of 5.37 as of fiscal year 2025, which is generally considered healthy.
What is Photronics Inc's debt-to-equity ratio?
Photronics Inc (PLAB) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Photronics Inc's return on assets (ROA)?
Photronics Inc (PLAB) had a return on assets of 7.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Photronics Inc's P/E ratio?
Photronics Inc (PLAB) trades at 12.6x earnings, its market capitalization divided by net income of $136.4M net income, FY2025. The market capitalization is $1.7B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Photronics Inc's price-to-sales ratio?
Photronics Inc (PLAB) trades at 2.0x sales, its market capitalization divided by revenue of $849.3M revenue, FY2025. The market capitalization is $1.7B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Photronics Inc's Altman Z-Score?
Photronics Inc (PLAB) has an Altman Z-Score of 3.57, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Photronics Inc's Piotroski F-Score?
Photronics Inc (PLAB) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Photronics Inc's earnings high quality?
Photronics Inc (PLAB) has an earnings quality ratio of 1.82x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Photronics Inc?
Photronics Inc (PLAB) scores 75 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.