Here are the 10-K annual reports from Photronics Inc (PLAB) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow PLAB and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PLAB filings page.
Photronics, Inc. reports fiscal 2025 revenue of $849.3 million, down 2% from 2024, as weaker mainstream integrated circuit (IC) demand offset growth in high-end products and flat-panel displays (FPD). IC revenue was $615.1 million, down 3.6%, with mainstream IC photomasks falling 8.2% while high-end IC masks grew 4.6%. FPD revenue rose 2.4% to $234.2 million, helped by stronger mainstream G8 products.
Gross margin for 2025 was 35.3%, slightly below 36.4% in 2024, while net income attributable to Photronics shareholders improved to 16.1% of revenue from 15.1%. In Q4 2025, revenue was $215.8 million with a 35.0% gross margin, reflecting a better product mix and lower manufacturing costs.
Non‑U.S. operations generated about 82% of 2025 revenue, and the company highlights significant geopolitical, trade, currency, and regulatory risks, particularly tied to China and other international markets. Photronics invested $188.1 million in capital expenditures in 2025 and plans about $330 million in 2026 to support advanced nodes and capacity. It repurchased 5.0 million shares in 2025 for $97.4 million, with $27.6 million remaining under its authorization.