Photronics (PLAB) Financials

$17.99 +0.06 (+0.33%)

Closing price 04:00 PM Eastern

Extended Trading

$17.98 0.00 (-0.03%)

As of 07:55 PM Eastern

Annual Income Statements for Photronics

This table shows Photronics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	26	45	46	13	42	30	34	55	119	125	131
Consolidated Net Income / (Loss)	32	57	56	21	61	40	40	79	179	200	184
Net Income / (Loss) Continuing Operations	32	57	56	21	61	40	40	79	179	200	184
Total Pre-Tax Income	41	70	60	27	69	51	62	102	239	270	247
Total Operating Income	29	72	52	32	66	52	64	95	212	253	222
Total Gross Profit	100	143	119	91	132	121	135	167	294	336	316
Total Revenue	456	524	483	451	535	551	610	664	825	892	867
Operating Revenue	456	524	483	451	535	551	610	664	825	892	867
Total Cost of Revenue	355	381	365	359	404	430	475	497	530	556	551
Operating Cost of Revenue	355	381	365	359	404	430	475	497	530	556	551
Total Operating Expenses	72	71	66	59	66	69	71	72	82	83	94
Selling, General & Admin Expense	50	49	45	44	51	52	54	58	64	69	78
Research & Development Expense	22	22	22	16	14	16	17	18	18	14	17
Other Special Charges / (Income)	-	-	-	-	-	0.00	0.00	-3.53	0.02	0.00	0.09
Total Other Income / (Expense), net	13	-2.19	8.00	-5.30	2.94	-1.42	-2.33	7.45	27	17	26
Interest Expense	7.25	4.99	3.37	2.24	2.26	1.43	2.37	1.69	1.86	0.43	0.33
Other Income / (Expense), net	20	2.80	2.42	-3.07	5.21	0.01	0.04	9.14	29	17	26
Income Tax Expense	9.30	13	4.80	5.28	7.34	10	21	23	60	70	64
Net Income / (Loss) Attributable to Noncontrolling Interest	6.04	12	9.48	8.16	19	11	6.52	23	60	74	53
Basic Earnings per Share	$0.42	$0.67	$0.68	$0.19	$0.61	$0.45	$0.52	$0.90	$1.96	$2.05	$2.12
Weighted Average Basic Shares Outstanding	61.78M	66.33M	67.54M	68.44M	68.83M	66.35M	64.87M	61.41M	60.56M	61.14M	61.73M
Diluted Earnings per Share	$0.41	$0.63	$0.64	$0.19	$0.59	$0.44	$0.52	$0.89	$1.94	$2.03	$2.09
Weighted Average Diluted Shares Outstanding	66.68M	78.38M	76.35M	69.29M	74.82M	69.16M	65.47M	62.00M	61.19M	61.76M	62.39M
Weighted Average Basic & Diluted Shares Outstanding	61.90M	66.60M	67.90M	69.10M	68.90M	65.42M	63.92M	60.90M	61.74M	62.60M	63.34M

This table shows Photronics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Net Income / (Loss) Attributable to Common Shareholders	31	37	14	40	27	45	26	36	34	34	43
Consolidated Net Income / (Loss)	49	55	29	59	48	63	39	56	48	40	58
Net Income / (Loss) Continuing Operations	49	55	29	59	48	63	39	56	48	40	58
Total Pre-Tax Income	67	71	42	81	64	83	54	77	62	55	77
Total Operating Income	64	61	56	67	65	65	57	56	52	56	52
Total Gross Profit	84	80	76	88	87	85	79	79	75	82	76
Total Revenue	220	210	211	229	224	227	216	217	211	223	212
Operating Revenue	220	210	211	229	224	227	216	217	211	223	212
Total Cost of Revenue	136	130	135	141	137	143	137	138	136	140	137
Operating Cost of Revenue	136	130	135	141	137	143	137	138	136	140	137
Total Operating Expenses	20	20	20	21	22	20	22	23	23	26	23
Selling, General & Admin Expense	16	16	17	18	18	17	18	19	19	21	19
Research & Development Expense	4.15	4.05	3.30	3.48	3.51	3.37	3.45	4.29	3.56	5.28	4.26
Total Other Income / (Expense), net	3.62	11	-14	14	-0.91	19	-3.75	21	10	-1.13	25
Interest Expense	0.62	0.36	0.07	0.13	0.13	0.11	0.09	0.11	0.06	0.08	0.05
Other Income / (Expense), net	4.24	11	-14	14	-0.79	19	-3.66	21	10	-1.05	25
Income Tax Expense	18	16	13	21	16	20	15	20	14	15	19
Net Income / (Loss) Attributable to Noncontrolling Interest	18	18	15	19	21	19	13	20	14	6.36	15
Basic Earnings per Share	$0.51	$0.62	$0.23	$0.65	$0.44	$0.73	$0.43	$0.59	$0.56	$0.54	$0.69
Weighted Average Basic Shares Outstanding	60.70M	60.56M	60.89M	61.14M	61.23M	61.14M	61.46M	61.77M	61.82M	61.73M	62.09M
Diluted Earnings per Share	$0.51	$0.60	$0.23	$0.65	$0.44	$0.71	$0.42	$0.58	$0.55	$0.54	$0.68
Weighted Average Diluted Shares Outstanding	61.30M	61.19M	61.47M	61.51M	61.97M	61.76M	62.28M	62.41M	62.41M	62.39M	62.66M
Weighted Average Basic & Diluted Shares Outstanding	61.69M	61.74M	62.47M	62.52M	62.55M	62.60M	63.35M	63.36M	63.35M	63.34M	63.56M

This table details how cash moves in and out of Photronics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-23	13	108	-12	26	-125	72	-1.92	43	179	99
Net Cash From Operating Activities	96	133	122	97	131	68	143	151	275	302	261
Net Cash From Continuing Operating Activities	96	133	122	97	131	68	143	151	275	302	261
Net Income / (Loss) Continuing Operations	32	57	56	21	61	40	40	79	179	200	184
Consolidated Net Income / (Loss)	32	57	56	21	61	40	40	79	179	200	184
Depreciation Expense	73	76	78	82	80	79	89	88	80	80	82
Amortization Expense	7.28	6.73	5.23	4.87	4.80	4.64	4.64	2.86	0.36	0.36	0.37
Non-Cash Adjustments To Reconcile Net Income	-12	3.69	-5.11	3.63	3.18	3.68	4.93	5.35	6.31	8.00	14
Changes in Operating Assets and Liabilities, net	-3.51	-9.77	-11	-15	-18	-60	3.96	-24	9.31	14	-19
Net Cash From Investing Activities	-87	-104	52	-98	-91	-151	-66	-103	-148	-102	-156
Net Cash From Continuing Investing Activities	-87	-104	52	-98	-91	-151	-66	-103	-148	-102	-156
Purchase of Property, Plant & Equipment	-91	-104	-50	-92	-93	-178	-71	-109	-112	-131	-131
Acquisitions	-0.36	-0.77	-0.01	-6.23	-0.22	-0.10	-0.16	-0.17	-0.21	-0.12	-0.09
Purchase of Investments	-	-	-	-	-	-	0.00	0.00	-39	-20	-101
Sale and/or Maturity of Investments	0.00	0.00	102	0.17	-	-	-	0.00	0.00	48	73
Other Investing Activities, net	-0.54	0.50	0.60	0.02	1.93	27	5.26	5.78	3.64	2.52	2.29
Net Cash From Financing Activities	-30	-7.10	-67	-11	-14	-42	-16	-54	-39	-18	-7.73
Net Cash From Continuing Financing Activities	-30	-7.10	-67	-11	-14	-42	-16	-54	-39	-18	-7.73
Repayment of Debt	-31	-9.75	-58	-5.46	-5.16	-61	-7.39	-20	-65	-18	-6.62
Repurchase of Common Equity	-	-	0.00	0.00	-23	-22	-34	-48	-2.52	0.00	0.00
Issuance of Common Equity	1.30	2.65	3.46	2.83	23	31	22	3.87	31	1.25	1.92
Other Financing Activities, net	-	-	-	-	-	-	-0.25	-0.44	-1.47	-1.30	-3.03
Effect of Exchange Rate Changes	-2.02	-8.85	0.80	-	-	-	11	4.70	-46	-2.68	2.13

This table details how cash moves in and out of Photronics' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Net Change in Cash & Equivalents	51	-61	15	33	81	51	9.45	-15	43	61	44
Net Cash From Operating Activities	93	79	28	82	86	107	42	76	75	68	78
Net Cash From Continuing Operating Activities	93	79	28	82	86	107	42	76	75	68	78
Net Income / (Loss) Continuing Operations	49	55	29	59	48	63	39	56	48	40	58
Consolidated Net Income / (Loss)	49	55	29	59	48	63	39	56	48	40	58
Depreciation Expense	20	19	19	20	20	21	21	21	20	21	21
Non-Cash Adjustments To Reconcile Net Income	1.58	1.69	1.82	2.01	2.04	2.13	2.57	3.93	3.34	4.05	3.33
Changes in Operating Assets and Liabilities, net	22	3.20	-22	0.74	15	20	-21	-4.60	3.44	2.90	-3.92
Net Cash From Investing Activities	-12	-103	-30	-32	-1.97	-37	-42	-72	-27	-14	6.85
Net Cash From Continuing Investing Activities	-12	-103	-30	-32	-1.97	-37	-42	-72	-27	-14	6.85
Purchase of Property, Plant & Equipment	-12	-66	-31	-27	-21	-52	-43	-20	-24	-43	-35
Purchase of Investments	-	-39	0.00	-9.84	-	-10	-2.44	-64	-35	-	0.00
Sale and/or Maturity of Investments	-	-	0.00	4.00	19	25	2.50	11	31	28	41
Other Investing Activities, net	0.02	2.43	0.93	0.38	0.61	0.61	1.04	0.38	0.12	0.75	0.56
Net Cash From Financing Activities	-23	-13	-9.71	-5.53	-1.16	-2.09	-2.87	-1.86	-1.70	-1.30	-20
Net Cash From Continuing Financing Activities	-23	-13	-9.71	-5.53	-1.16	-2.09	-2.87	-1.86	-1.70	-1.30	-20
Repayment of Debt	-24	-14	-9.22	-5.50	-1.63	-2.09	-1.19	-1.65	-1.66	-2.12	-15
Repurchase of Common Equity	-	-	-	-	-	-	0.00	-	-	-	-4.57
Issuance of Common Equity	1.12	0.24	0.67	0.06	0.51	0.01	0.94	0.12	0.02	0.84	1.43
Other Financing Activities, net	-0.01	-0.01	-1.17	-0.08	-0.04	-0.01	-2.61	-0.33	-0.06	-0.02	-2.00
Effect of Exchange Rate Changes	-6.39	-25	27	-12	-1.81	-16	13	-17	-2.62	8.58	-21

This table presents Photronics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	1,029	1,043	988	1,021	1,110	1,119	1,188	1,294	1,316	1,526	1,712
Total Current Assets	336	361	442	449	503	428	500	551	645	785	931
Cash & Equivalents	193	206	314	308	329	207	279	277	320	499	598
Short-Term Investments	-	-	-	-	-	-	-	0.00	39	13	42
Accounts Receivable	95	110	93	105	121	134	134	174	198	195	201
Inventories, net	22	24	22	24	29	48	57	55	51	50	57
Other Current Assets	19	21	13	12	24	38	30	44	37	28	33
Plant, Property, & Equipment, net	550	547	506	535	572	632	631	697	644	709	745
Total Noncurrent Assets	143	135	40	36	35	59	57	47	27	32	36
Noncurrent Deferred & Refundable Income Taxes	11	13	16	15	18	21	22	24	20	21	23
Other Noncurrent Operating Assets	8.17	4.61	3.79	3.87	5.02	30	31	23	7.49	10	13
Total Liabilities & Shareholders' Equity	1,029	1,043	988	1,021	1,110	1,119	1,188	1,294	1,316	1,526	1,712
Total Liabilities	290	281	163	155	205	208	226	294	254	251	231
Total Current Liabilities	139	193	81	82	191	152	143	176	194	185	184
Short-Term Debt	10	65	5.43	4.64	57	11	14	22	10	6.62	18
Accounts Payable	86	88	52	51	89	91	75	82	80	84	79
Accrued Expenses	42	39	24	26	44	50	54	72	104	95	87
Total Noncurrent Liabilities	151	89	81	74	14	56	83	117	60	65	47
Long-Term Debt	132	67	62	57	0.00	42	55	89	32	18	0.03
Other Noncurrent Operating Liabilities	16	19	18	14	14	14	28	28	28	47	47
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	739	762	825	865	905	911	962	1,001	1,062	1,276	1,481
Total Preferred & Common Equity	628	647	710	745	760	770	805	824	832	975	1,121
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	628	647	710	745	760	770	805	824	832	975	1,121
Common Stock	521	527	542	548	556	525	508	485	494	503	515
Retained Earnings	85	130	176	189	231	254	279	318	436	561	692
Accumulated Other Comprehensive Income / (Loss)	22	-11	-7.67	6.89	-4.97	-9.01	18	21	-98	-89	-86
Noncontrolling Interest	111	116	115	121	145	141	157	177	231	301	360

This table presents Photronics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Total Assets	1,350	1,442	1,451	1,503	1,583	1,603	1,645	1,705
Total Current Assets	678	701	720	772	808	844	893	921
Cash & Equivalents	381	335	367	448	509	494	537	642
Short-Term Investments	-	39	45	27	13	66	69	0.00
Accounts Receivable	206	221	214	206	204	198	200	188
Inventories, net	50	53	55	55	51	54	55	58
Other Current Assets	40	53	38	35	32	32	31	33
Plant, Property, & Equipment, net	641	711	700	701	743	729	723	750
Total Noncurrent Assets	31	30	31	30	32	30	30	34
Noncurrent Deferred & Refundable Income Taxes	23	22	19	19	22	20	20	19
Other Noncurrent Operating Assets	8.20	8.02	12	11	10	10	9.58	15
Total Liabilities & Shareholders' Equity	1,350	1,442	1,451	1,503	1,583	1,603	1,645	1,705
Total Liabilities	270	259	246	251	236	235	232	210
Total Current Liabilities	197	199	185	191	185	196	191	163
Short-Term Debt	11	6.54	7.02	6.59	21	19	20	2.63
Accounts Payable	82	85	93	102	87	95	89	86
Accrued Expenses	104	108	85	83	78	82	82	74
Total Noncurrent Liabilities	73	60	61	61	50	40	41	48
Long-Term Debt	47	27	21	20	2.66	2.46	0.03	0.02
Other Noncurrent Operating Liabilities	26	32	40	41	48	37	41	48
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,080	1,183	1,205	1,252	1,347	1,368	1,413	1,494
Total Preferred & Common Equity	850	921	928	961	1,023	1,035	1,068	1,128
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	850	921	928	961	1,023	1,035	1,068	1,128
Common Stock	493	496	498	500	504	507	511	516
Retained Earnings	399	450	490	517	587	624	658	732
Accumulated Other Comprehensive Income / (Loss)	-41	-24	-60	-56	-68	-96	-100	-120
Noncontrolling Interest	230	262	277	291	324	333	345	366

This table displays calculated financial ratios and metrics derived from Photronics' official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.90%	15.08%	-7.77%	-6.78%	18.77%	2.87%	10.72%	8.87%	24.22%	8.19%	-2.82%
EBITDA Growth	19.73%	22.32%	-12.51%	-16.24%	34.49%	-12.35%	16.01%	23.01%	65.50%	9.34%	-5.88%
EBIT Growth	40.55%	54.46%	-26.83%	-47.54%	145.95%	-26.41%	22.72%	62.10%	132.32%	12.24%	-8.37%
NOPAT Growth	-0.35%	162.73%	-17.61%	-47.14%	129.48%	-28.98%	0.58%	74.50%	117.46%	17.79%	-12.04%
Net Income Growth	63.64%	77.49%	-2.08%	-61.76%	187.64%	-33.88%	-0.37%	95.36%	127.42%	11.38%	-7.91%
EPS Growth	41.38%	53.66%	1.59%	-70.31%	210.53%	-25.42%	18.18%	71.15%	117.98%	4.64%	2.96%
Operating Cash Flow Growth	-3.06%	38.23%	-8.30%	-20.72%	34.84%	-47.62%	109.17%	5.40%	82.52%	9.81%	-13.48%
Free Cash Flow Firm Growth	-13,864.76%	158.36%	11.87%	-122.97%	400.28%	-283.88%	156.57%	-121.88%	2,520.26%	-41.64%	-34.82%
Invested Capital Growth	25.90%	0.03%	-2.87%	7.01%	2.18%	19.69%	-0.67%	11.08%	-10.73%	5.64%	8.89%
Revenue Q/Q Growth	4.17%	3.44%	-6.63%	3.11%	4.63%	2.15%	-1.13%	5.07%	3.64%	1.97%	-0.56%
EBITDA Q/Q Growth	11.35%	18.78%	-9.44%	12.34%	6.59%	2.31%	0.72%	17.29%	11.93%	4.27%	-7.95%
EBIT Q/Q Growth	4.98%	32.48%	-29.42%	36.42%	11.60%	-9.35%	-4.08%	32.73%	16.06%	4.58%	-10.41%
NOPAT Q/Q Growth	5.97%	33.59%	-24.57%	11.98%	8.71%	7.66%	-13.85%	25.48%	15.47%	1.14%	-4.65%
Net Income Q/Q Growth	5.91%	37.31%	-21.87%	22.62%	11.41%	-8.44%	-9.95%	34.12%	17.45%	4.12%	-11.09%
EPS Q/Q Growth	5.13%	36.96%	-21.95%	-5.00%	20.41%	-8.33%	-7.14%	32.84%	17.58%	5.73%	-7.52%
Operating Cash Flow Q/Q Growth	2.86%	5.42%	-8.00%	-7.37%	18.70%	1.90%	16.16%	-15.24%	17.80%	9.95%	-12.76%
Free Cash Flow Firm Q/Q Growth	6.25%	30.56%	2.35%	-136.16%	755.20%	-10.78%	-9.49%	53.19%	18.20%	4.58%	-36.23%
Invested Capital Q/Q Growth	-0.29%	-0.12%	-3.00%	7.16%	-0.93%	0.68%	0.44%	0.78%	-1.39%	-1.84%	3.74%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	22.03%	27.31%	24.55%	20.26%	24.57%	21.94%	22.09%	25.17%	35.68%	37.68%	36.44%
EBITDA Margin	28.26%	30.03%	28.49%	25.60%	28.99%	24.70%	25.88%	29.24%	38.96%	39.37%	38.13%
Operating Margin	6.32%	13.78%	10.85%	7.07%	12.26%	9.47%	10.49%	14.25%	25.69%	28.37%	25.55%
EBIT Margin	10.66%	14.31%	11.36%	6.39%	13.23%	9.47%	10.49%	15.62%	29.21%	30.31%	28.58%
Profit (Net Income) Margin	7.03%	10.85%	11.52%	4.72%	11.44%	7.35%	6.62%	11.87%	21.74%	22.38%	21.21%
Tax Burden Percent	77.51%	81.18%	92.07%	80.14%	89.30%	79.86%	65.49%	77.27%	74.99%	73.95%	74.31%
Interest Burden Percent	85.08%	93.35%	110.16%	92.24%	96.81%	97.27%	96.30%	98.38%	99.23%	99.84%	99.87%
Effective Tax Rate	22.49%	18.82%	7.93%	19.86%	10.70%	20.14%	34.51%	22.73%	25.01%	26.05%	25.69%
Return on Invested Capital (ROIC)	4.18%	9.84%	8.23%	4.26%	9.36%	5.99%	5.55%	9.20%	20.09%	24.40%	20.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-3.34%	10.99%	4.66%	5.99%	8.35%	6.52%	6.38%	6.13%	11.62%	21.29%	16.53%
Return on Net Nonoperating Assets (RNNOA)	0.65%	-2.27%	-1.21%	-1.75%	-2.44%	-1.53%	-1.24%	-1.17%	-2.71%	-7.32%	-6.66%
Return on Equity (ROE)	4.83%	7.57%	7.01%	2.52%	6.92%	4.46%	4.31%	8.03%	17.38%	17.08%	13.34%
Cash Return on Invested Capital (CROIC)	-18.75%	9.82%	11.14%	-2.51%	7.21%	-11.94%	6.22%	-1.29%	31.43%	18.91%	11.49%
Operating Return on Assets (OROA)	5.07%	7.24%	5.41%	2.87%	6.65%	4.68%	5.55%	8.35%	18.46%	19.03%	15.30%
Return on Assets (ROA)	3.35%	5.49%	5.48%	2.12%	5.75%	3.63%	3.50%	6.35%	13.73%	14.05%	11.35%
Return on Common Equity (ROCE)	4.41%	6.43%	6.00%	2.17%	5.88%	3.76%	3.62%	6.66%	13.95%	13.20%	10.14%
Return on Equity Simple (ROE_SIMPLE)	5.10%	8.79%	7.84%	2.86%	8.06%	5.26%	5.01%	9.57%	21.56%	20.48%	16.40%
Net Operating Profit after Tax (NOPAT)	22	59	48	26	59	42	42	73	159	187	165
NOPAT Margin	4.90%	11.19%	9.99%	5.67%	10.95%	7.56%	6.87%	11.01%	19.27%	20.98%	18.99%
Net Nonoperating Expense Percent (NNEP)	7.51%	-1.15%	3.57%	-1.72%	1.02%	-0.53%	-0.84%	3.07%	8.47%	3.11%	3.47%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	14.38%	14.39%	10.98%
Cost of Revenue to Revenue	77.97%	72.69%	75.45%	79.74%	75.43%	78.06%	77.91%	74.83%	64.32%	62.32%	63.56%
SG&A Expenses to Revenue	10.90%	9.34%	9.22%	9.67%	9.60%	9.50%	8.79%	8.67%	7.76%	7.79%	8.97%
R&D to Revenue	4.81%	4.18%	4.48%	3.52%	2.71%	2.98%	2.81%	2.79%	2.22%	1.53%	1.91%
Operating Expenses to Revenue	15.71%	13.53%	13.70%	13.19%	12.31%	12.48%	11.60%	10.92%	9.99%	9.32%	10.89%
Earnings before Interest and Taxes (EBIT)	49	75	55	29	71	52	64	104	241	270	248
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	129	157	138	115	155	136	158	194	321	351	331
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.88	0.99	0.95	0.88	0.88	1.03	0.80	0.96	1.20	1.18	1.29
Price to Tangible Book Value (P/TBV)	0.93	1.03	0.97	0.91	0.89	1.04	0.80	0.96	1.20	1.18	1.29
Price to Revenue (P/Rev)	1.22	1.22	1.39	1.46	1.24	1.44	1.05	1.20	1.21	1.29	1.67
Price to Earnings (P/E)	21.36	14.35	14.54	50.14	15.84	26.61	18.93	14.33	8.42	9.15	11.05
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.68%	6.97%	6.88%	1.99%	6.31%	3.76%	5.28%	6.98%	11.87%	10.93%	9.05%
Enterprise Value to Invested Capital (EV/IC)	0.88	0.99	0.93	0.86	0.85	1.03	0.78	0.96	1.23	1.22	1.38
Enterprise Value to Revenue (EV/Rev)	1.15	1.12	1.12	1.18	1.01	1.42	0.96	1.21	1.11	1.08	1.36
Enterprise Value to EBITDA (EV/EBITDA)	4.06	3.74	3.92	4.62	3.47	5.74	3.72	4.15	2.85	2.74	3.57
Enterprise Value to EBIT (EV/EBIT)	10.76	7.86	9.84	18.51	7.61	14.97	9.18	7.78	3.80	3.56	4.77
Enterprise Value to NOPAT (EV/NOPAT)	23.43	10.05	11.18	20.87	9.20	18.75	14.03	11.04	5.76	5.14	7.18
Enterprise Value to Operating Cash Flow (EV/OCF)	5.43	4.43	4.42	5.50	4.13	11.41	4.11	5.35	3.33	3.18	4.52
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	10.08	8.25	0.00	11.95	0.00	12.52	0.00	3.68	6.63	12.50
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.19	0.17	0.08	0.07	0.06	0.06	0.07	0.11	0.04	0.02	0.01
Long-Term Debt to Equity	0.18	0.09	0.07	0.07	0.00	0.05	0.06	0.09	0.03	0.01	0.00
Financial Leverage	-0.19	-0.21	-0.26	-0.29	-0.29	-0.23	-0.19	-0.19	-0.23	-0.34	-0.40
Leverage Ratio	1.44	1.38	1.28	1.19	1.20	1.23	1.23	1.26	1.27	1.22	1.17
Compound Leverage Factor	1.23	1.29	1.41	1.10	1.17	1.19	1.19	1.24	1.26	1.21	1.17
Debt to Total Capital	16.13%	14.82%	7.54%	6.68%	5.97%	5.47%	6.66%	10.04%	3.83%	1.89%	1.20%
Short-Term Debt to Total Capital	1.18%	7.32%	0.61%	0.50%	5.97%	1.13%	1.33%	2.00%	0.91%	0.51%	1.20%
Long-Term Debt to Total Capital	14.95%	7.50%	6.93%	6.18%	0.00%	4.35%	5.33%	8.04%	2.93%	1.38%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	12.64%	12.91%	12.89%	13.02%	15.06%	14.65%	15.26%	15.90%	20.88%	23.12%	24.01%
Common Equity to Total Capital	71.23%	72.27%	79.57%	80.30%	78.97%	79.88%	78.08%	74.06%	75.29%	74.99%	74.79%
Debt to EBITDA	1.10	0.84	0.49	0.54	0.37	0.39	0.44	0.58	0.13	0.07	0.05
Net Debt to EBITDA	-1.12	-1.06	-1.79	-2.13	-1.75	-1.13	-1.33	-0.85	-0.98	-1.39	-1.88
Long-Term Debt to EBITDA	1.02	0.43	0.45	0.50	0.00	0.31	0.35	0.46	0.10	0.05	0.00
Debt to NOPAT	6.37	2.26	1.39	2.43	0.98	1.27	1.64	1.53	0.27	0.13	0.11
Net Debt to NOPAT	-6.45	-2.84	-5.11	-9.63	-4.64	-3.69	-5.02	-2.26	-1.99	-2.61	-3.78
Long-Term Debt to NOPAT	5.91	1.14	1.28	2.25	0.00	1.01	1.31	1.22	0.20	0.10	0.00
Altman Z-Score	2.09	2.47	3.84	3.77	3.27	3.55	3.08	3.09	4.47	4.91	5.82
Noncontrolling Interest Sharing Ratio	8.59%	15.11%	14.53%	13.95%	15.01%	15.76%	15.93%	17.03%	19.75%	22.72%	23.96%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.42	1.87	5.43	5.49	2.63	2.81	3.50	3.13	3.33	4.24	5.07
Quick Ratio	2.07	1.64	5.00	5.05	2.35	2.24	2.89	2.56	2.87	3.82	4.58
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-100	58	65	-15	45	-83	47	-10	249	145	95
Operating Cash Flow to CapEx	105.79%	128.03%	243.56%	105.29%	141.02%	38.34%	202.00%	138.20%	244.96%	230.15%	199.66%
Free Cash Flow to Firm to Interest Expense	-13.83	11.72	19.44	-6.72	19.94	-58.21	19.83	-6.09	133.84	334.97	283.05
Operating Cash Flow to Interest Expense	13.30	26.69	36.30	43.33	57.72	47.99	60.43	89.48	148.19	697.87	782.77
Operating Cash Flow Less CapEx to Interest Expense	0.73	5.84	21.39	2.18	16.79	-77.19	30.52	24.73	87.69	394.64	390.72
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.48	0.51	0.48	0.45	0.50	0.49	0.53	0.53	0.63	0.63	0.54
Accounts Receivable Turnover	5.43	5.12	4.77	4.55	4.74	4.32	4.53	4.30	4.43	4.54	4.38
Inventory Turnover	17.19	16.34	15.78	15.70	15.27	11.12	9.01	8.83	10.01	11.04	10.35
Fixed Asset Turnover	0.94	0.96	0.92	0.87	0.97	0.91	0.96	1.00	1.23	1.32	1.19
Accounts Payable Turnover	4.59	4.37	5.22	7.01	5.77	4.76	5.70	6.33	6.58	6.80	6.77
Days Sales Outstanding (DSO)	67.26	71.22	76.51	80.16	77.00	84.50	80.50	84.94	82.47	80.41	83.31
Days Inventory Outstanding (DIO)	21.23	22.33	23.13	23.25	23.90	32.84	40.50	41.34	36.48	33.06	35.27
Days Payable Outstanding (DPO)	79.60	83.56	69.86	52.05	63.27	76.65	64.06	57.65	55.44	53.70	53.90
Cash Conversion Cycle (CCC)	8.89	9.99	29.79	51.37	37.63	40.69	56.93	68.63	63.51	59.77	64.68
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	596	596	579	619	633	757	752	836	746	788	858
Invested Capital Turnover	0.85	0.88	0.82	0.75	0.86	0.79	0.81	0.84	1.04	1.16	1.05
Increase / (Decrease) in Invested Capital	123	0.16	-17	41	13	125	-5.06	83	-90	42	70
Enterprise Value (EV)	523	590	540	533	539	780	588	806	915	961	1,182
Market Capitalization	555	640	672	658	666	793	640	794	1,001	1,148	1,444
Book Value per Share	$10.17	$9.68	$10.42	$10.80	$11.11	$11.46	$12.26	$13.47	$13.48	$15.59	$17.69
Tangible Book Value per Share	$9.68	$9.31	$10.13	$10.55	$10.93	$11.34	$12.21	$13.47	$13.48	$15.59	$17.69
Total Capital	882	895	893	927	962	964	1,031	1,112	1,104	1,300	1,499
Total Debt	142	133	67	62	57	53	69	112	42	25	18
Total Long-Term Debt	132	67	62	57	0.00	42	55	89	32	18	0.03
Net Debt	-144	-166	-247	-246	-272	-154	-210	-165	-316	-488	-623
Capital Expenditures (CapEx)	91	104	50	92	93	178	71	109	112	131	131
Debt-free, Cash-free Net Working Capital (DFCFNWC)	15	28	52	64	40	80	92	120	102	95	125
Debt-free Net Working Capital (DFNWC)	208	234	366	372	369	286	371	397	461	607	765
Net Working Capital (NWC)	197	168	360	367	312	276	357	374	451	600	747
Net Nonoperating Expense (NNE)	-9.72	1.78	-7.36	4.25	-2.63	1.13	1.52	-5.76	-20	-12	-19
Net Nonoperating Obligations (NNO)	-144	-166	-247	-246	-272	-154	-210	-165	-316	-488	-623
Total Depreciation and Amortization (D&A)	80	82	83	87	84	84	94	90	80	81	83
Debt-free, Cash-free Net Working Capital to Revenue	3.25%	5.28%	10.68%	14.19%	7.44%	14.51%	15.12%	18.09%	12.42%	10.61%	14.37%
Debt-free Net Working Capital to Revenue	45.61%	44.56%	75.64%	82.54%	68.96%	52.02%	60.83%	59.77%	55.89%	68.03%	88.27%
Net Working Capital to Revenue	43.33%	32.06%	74.52%	81.51%	58.22%	50.04%	58.59%	56.42%	54.68%	67.28%	86.19%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.42	$0.67	$0.68	$0.19	$0.61	$0.45	$0.52	$0.90	$1.96	$2.05	$2.12
Adjusted Weighted Average Basic Shares Outstanding	61.78M	66.33M	67.54M	68.44M	68.83M	66.35M	64.87M	61.41M	60.56M	61.14M	61.73M
Adjusted Diluted Earnings per Share	$0.41	$0.63	$0.64	$0.19	$0.59	$0.44	$0.52	$0.89	$1.94	$2.03	$2.09
Adjusted Weighted Average Diluted Shares Outstanding	66.68M	78.38M	76.35M	69.29M	74.82M	69.16M	65.47M	62.00M	61.19M	61.76M	62.39M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	66.35M	66.98M	68.33M	69.05M	66.99M	65.42M	63.92M	60.90M	61.74M	62.60M	63.34M
Normalized Net Operating Profit after Tax (NOPAT)	22	59	48	26	59	42	42	70	159	187	165
Normalized NOPAT Margin	4.90%	11.19%	9.99%	5.67%	10.95%	7.56%	6.87%	10.60%	19.27%	20.98%	18.99%
Pre Tax Income Margin	9.07%	13.36%	12.51%	5.89%	12.81%	9.21%	10.10%	15.37%	28.99%	30.26%	28.54%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.70	15.04	16.31	12.89	31.31	36.58	27.02	61.54	129.72	624.43	741.76
NOPAT to Interest Expense	3.08	11.75	14.36	11.43	25.91	29.21	17.69	43.36	85.55	432.19	492.83
EBIT Less CapEx to Interest Expense	-5.87	-5.81	1.41	-28.26	-9.62	-88.60	-2.89	-3.21	69.23	321.21	349.72
NOPAT Less CapEx to Interest Expense	-9.49	-9.10	-0.55	-29.72	-15.02	-95.96	-12.23	-21.39	25.06	128.97	100.79
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	23.09%	38.98%	13.34%	111.26%	40.03%	12.18%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	23.09%	38.98%	51.08%	164.84%	125.29%	73.39%	1.41%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Photronics' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	28.89%	15.98%	11.20%	12.13%	1.94%	8.18%	2.48%	-5.37%	-5.90%	-2.13%	-1.94%
EBITDA Growth	58.32%	59.83%	-6.05%	29.14%	-3.26%	15.50%	22.79%	-3.14%	-2.87%	-27.66%	31.48%
EBIT Growth	104.38%	86.87%	-5.03%	40.66%	-5.13%	16.51%	29.41%	-4.91%	-3.30%	-34.44%	43.42%
NOPAT Growth	116.28%	82.42%	38.09%	33.16%	5.10%	4.55%	7.18%	-16.30%	-17.60%	-16.41%	-5.77%
Net Income Growth	102.11%	93.02%	-8.75%	37.75%	-1.97%	14.28%	35.00%	-4.89%	-0.18%	-36.31%	49.06%
EPS Growth	82.14%	93.55%	-39.47%	44.44%	-13.73%	18.33%	82.61%	-10.77%	25.00%	-23.94%	61.90%
Operating Cash Flow Growth	68.80%	110.39%	-53.19%	85.69%	-7.29%	34.51%	49.96%	-6.72%	-12.57%	-35.88%	89.04%
Free Cash Flow Firm Growth	303.37%	337.01%	127.61%	-60.37%	-97.82%	-94.92%	94.37%	-3.86%	513.61%	-519.38%	-4.89%
Invested Capital Growth	-8.77%	-10.73%	2.53%	2.07%	6.13%	5.64%	0.76%	1.20%	3.04%	8.89%	0.67%
Revenue Q/Q Growth	7.55%	-4.40%	0.39%	8.63%	-2.22%	1.46%	-4.90%	0.31%	-2.77%	5.52%	-4.71%
EBITDA Q/Q Growth	12.53%	3.08%	-32.91%	65.94%	-15.70%	23.06%	-28.68%	30.91%	-15.47%	-8.34%	29.63%
EBIT Q/Q Growth	18.40%	5.51%	-42.00%	94.12%	-20.15%	29.58%	-35.57%	42.64%	-18.80%	-12.14%	40.94%
NOPAT Q/Q Growth	25.79%	0.72%	-16.83%	26.38%	-0.72%	0.19%	-14.74%	-1.31%	-2.26%	1.64%	-3.88%
Net Income Q/Q Growth	14.40%	12.27%	-47.61%	104.74%	-18.59%	30.88%	-38.12%	44.24%	-14.55%	-16.49%	44.83%
EPS Q/Q Growth	13.33%	17.65%	-61.67%	182.61%	-32.31%	61.36%	-40.85%	38.10%	-5.17%	-1.82%	25.93%
Operating Cash Flow Q/Q Growth	109.77%	-14.43%	-65.08%	196.23%	4.73%	24.15%	-61.07%	84.27%	-1.84%	-8.94%	14.77%
Free Cash Flow Firm Q/Q Growth	44.57%	14.53%	-86.65%	79.29%	-92.05%	167.00%	411.00%	-11.32%	-49.28%	-282.48%	215.88%
Invested Capital Q/Q Growth	-5.86%	-1.39%	12.96%	-2.67%	-2.11%	-1.84%	7.73%	-2.24%	-0.33%	3.74%	-0.40%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	38.13%	38.17%	36.04%	38.55%	38.71%	37.32%	36.64%	36.52%	35.61%	36.97%	35.61%
EBITDA Margin	39.91%	43.03%	28.76%	43.93%	37.87%	45.94%	34.45%	44.96%	39.09%	33.96%	46.19%
Operating Margin	28.97%	28.79%	26.51%	29.24%	29.11%	28.48%	26.57%	25.83%	24.72%	25.08%	24.60%
EBIT Margin	30.90%	34.11%	19.71%	35.22%	28.76%	36.73%	24.88%	35.38%	29.55%	24.61%	36.39%
Profit (Net Income) Margin	22.38%	26.28%	13.71%	25.85%	21.52%	27.76%	18.07%	25.98%	22.83%	18.07%	27.46%
Tax Burden Percent	73.07%	77.47%	69.71%	73.53%	74.98%	75.69%	72.72%	73.61%	77.33%	73.41%	75.50%
Interest Burden Percent	99.12%	99.47%	99.84%	99.83%	99.80%	99.87%	99.83%	99.74%	99.91%	100.03%	99.94%
Effective Tax Rate	26.93%	22.53%	30.29%	26.47%	25.02%	24.31%	27.28%	26.39%	22.67%	26.59%	24.50%
Return on Invested Capital (ROIC)	21.24%	23.26%	18.78%	23.05%	24.49%	25.07%	20.50%	20.40%	20.44%	19.39%	18.81%
ROIC Less NNEP Spread (ROIC-NNEP)	20.16%	19.78%	22.39%	19.89%	24.67%	21.56%	21.15%	17.12%	18.93%	19.53%	15.49%
Return on Net Nonoperating Assets (RNNOA)	-4.75%	-4.61%	-5.62%	-5.57%	-8.17%	-7.41%	-7.01%	-6.14%	-7.35%	-7.87%	-6.20%
Return on Equity (ROE)	16.49%	18.64%	13.16%	17.49%	16.32%	17.66%	13.49%	14.26%	13.09%	11.53%	12.61%
Cash Return on Invested Capital (CROIC)	26.52%	31.43%	17.99%	20.46%	17.79%	18.91%	21.62%	20.77%	18.19%	11.49%	18.36%
Operating Return on Assets (OROA)	18.69%	21.55%	12.00%	22.03%	17.64%	23.06%	14.77%	20.51%	16.37%	13.18%	19.10%
Return on Assets (ROA)	13.53%	16.61%	8.35%	16.17%	13.20%	17.43%	10.72%	15.05%	12.64%	9.67%	14.41%
Return on Common Equity (ROCE)	13.26%	14.96%	10.42%	13.67%	12.68%	13.65%	10.37%	10.88%	9.97%	8.76%	9.54%
Return on Equity Simple (ROE_SIMPLE)	17.95%	0.00%	19.17%	20.77%	19.95%	0.00%	20.51%	19.99%	19.36%	0.00%	18.00%
Net Operating Profit after Tax (NOPAT)	47	47	39	49	49	49	42	41	40	41	39
NOPAT Margin	21.17%	22.30%	18.48%	21.50%	21.83%	21.56%	19.33%	19.01%	19.11%	18.41%	18.57%
Net Nonoperating Expense Percent (NNEP)	1.09%	3.48%	-3.61%	3.16%	-0.18%	3.51%	-0.65%	3.28%	1.52%	-0.14%	3.32%
Return On Investment Capital (ROIC_SIMPLE)	-	4.25%	-	-	-	3.77%	3.05%	-	-	2.73%	2.63%
Cost of Revenue to Revenue	61.87%	61.83%	63.96%	61.45%	61.29%	62.69%	63.36%	63.48%	64.39%	63.03%	64.39%
SG&A Expenses to Revenue	7.26%	7.46%	7.97%	7.80%	8.04%	7.35%	8.47%	8.75%	9.21%	9.44%	9.00%
R&D to Revenue	1.89%	1.92%	1.56%	1.52%	1.56%	1.48%	1.59%	1.98%	1.69%	2.37%	2.01%
Operating Expenses to Revenue	9.14%	9.39%	9.53%	9.31%	9.61%	8.84%	10.06%	10.73%	10.90%	11.85%	11.01%
Earnings before Interest and Taxes (EBIT)	68	72	42	81	64	84	54	77	62	55	77
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	88	90	61	101	85	105	75	98	82	76	98
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.72	1.20	1.26	0.97	1.71	1.18	1.84	1.73	1.52	1.29	1.29
Price to Tangible Book Value (P/TBV)	1.72	1.20	1.26	0.97	1.71	1.18	1.84	1.73	1.52	1.29	1.29
Price to Revenue (P/Rev)	1.84	1.21	1.37	1.04	1.87	1.29	2.10	2.02	1.86	1.67	1.69
Price to Earnings (P/E)	14.45	8.42	10.59	7.39	13.90	9.15	13.69	13.37	11.48	11.05	9.88
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	6.92%	11.87%	9.44%	13.53%	7.19%	10.93%	7.30%	7.48%	8.71%	9.05%	10.12%
Enterprise Value to Invested Capital (EV/IC)	1.81	1.23	1.29	0.97	1.85	1.22	2.02	1.91	1.67	1.38	1.38
Enterprise Value to Revenue (EV/Rev)	1.73	1.11	1.28	0.91	1.69	1.08	1.91	1.79	1.59	1.36	1.37
Enterprise Value to EBITDA (EV/EBITDA)	4.78	2.85	3.42	2.34	4.40	2.74	4.69	4.39	3.85	3.57	3.35
Enterprise Value to EBIT (EV/EBIT)	6.61	3.80	4.54	3.04	5.73	3.56	6.06	5.69	5.00	4.77	4.36
Enterprise Value to NOPAT (EV/NOPAT)	9.98	5.76	6.36	4.35	8.01	5.14	9.04	8.76	8.01	7.18	7.30
Enterprise Value to Operating Cash Flow (EV/OCF)	5.88	3.33	4.45	2.83	5.39	3.18	5.42	5.11	4.61	4.52	3.96
Enterprise Value to Free Cash Flow (EV/FCFF)	6.53	3.68	7.24	4.79	10.68	6.63	9.36	9.26	9.33	12.50	7.56
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.05	0.04	0.03	0.02	0.02	0.02	0.02	0.02	0.01	0.01	0.00
Long-Term Debt to Equity	0.04	0.03	0.02	0.02	0.02	0.01	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.24	-0.23	-0.25	-0.28	-0.33	-0.34	-0.33	-0.36	-0.39	-0.40	-0.40
Leverage Ratio	1.27	1.27	1.25	1.23	1.22	1.22	1.20	1.19	1.18	1.17	1.16
Compound Leverage Factor	1.26	1.26	1.25	1.23	1.22	1.21	1.19	1.18	1.18	1.18	1.16
Debt to Total Capital	5.04%	3.83%	2.78%	2.30%	2.09%	1.89%	1.71%	1.57%	1.40%	1.20%	0.18%
Short-Term Debt to Total Capital	0.94%	0.91%	0.54%	0.57%	0.52%	0.51%	1.52%	1.39%	1.40%	1.20%	0.18%
Long-Term Debt to Total Capital	4.10%	2.93%	2.25%	1.73%	1.57%	1.38%	0.19%	0.18%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	20.19%	20.88%	21.53%	22.44%	22.73%	23.12%	23.65%	23.97%	24.10%	24.01%	24.48%
Common Equity to Total Capital	74.77%	75.29%	75.68%	75.27%	75.18%	74.99%	74.64%	74.46%	74.50%	74.79%	75.34%
Debt to EBITDA	0.20	0.13	0.11	0.08	0.08	0.07	0.06	0.06	0.06	0.05	0.01
Net Debt to EBITDA	-1.13	-0.98	-1.07	-1.13	-1.33	-1.39	-1.37	-1.49	-1.63	-1.88	-1.81
Long-Term Debt to EBITDA	0.16	0.10	0.09	0.06	0.06	0.05	0.01	0.01	0.00	0.00	0.00
Debt to NOPAT	0.42	0.27	0.20	0.16	0.14	0.13	0.12	0.12	0.12	0.11	0.02
Net Debt to NOPAT	-2.35	-1.99	-1.99	-2.11	-2.43	-2.61	-2.63	-2.97	-3.40	-3.78	-3.95
Long-Term Debt to NOPAT	0.34	0.20	0.16	0.12	0.11	0.10	0.01	0.01	0.00	0.00	0.00
Altman Z-Score	4.86	4.05	4.23	3.90	5.58	4.50	6.47	6.31	5.93	5.45	5.94
Noncontrolling Interest Sharing Ratio	19.58%	19.75%	20.82%	21.84%	22.31%	22.72%	23.17%	23.70%	23.87%	23.96%	24.30%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.44	3.33	3.52	3.89	4.05	4.24	4.36	4.32	4.67	5.07	5.66
Quick Ratio	2.98	2.87	2.98	3.39	3.58	3.82	3.91	3.87	4.22	4.58	5.11
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	119	137	18	33	2.60	6.93	35	31	16	-29	34
Operating Cash Flow to CapEx	803.54%	120.10%	89.01%	307.90%	407.30%	203.16%	95.83%	382.49%	307.43%	158.23%	222.91%
Free Cash Flow to Firm to Interest Expense	191.70	384.68	280.46	243.91	20.61	64.21	393.71	285.65	274.76	-382.65	717.03
Operating Cash Flow to Interest Expense	148.93	223.28	425.85	611.92	681.58	987.22	461.20	695.33	1,294.48	899.61	1,669.49
Operating Cash Flow Less CapEx to Interest Expense	130.39	37.37	-52.57	413.18	514.24	501.28	-20.07	513.54	873.41	331.07	920.55
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.60	0.63	0.61	0.63	0.61	0.63	0.59	0.58	0.55	0.54	0.52
Accounts Receivable Turnover	4.45	4.43	4.32	4.30	4.24	4.54	4.23	4.30	4.29	4.38	4.40
Inventory Turnover	10.24	10.01	9.33	9.60	10.28	11.04	10.78	10.16	9.98	10.35	10.17
Fixed Asset Turnover	1.19	1.23	1.21	1.28	1.30	1.32	1.23	1.24	1.22	1.19	1.16
Accounts Payable Turnover	6.71	6.58	5.96	6.34	5.91	6.80	6.50	5.92	5.81	6.77	6.37
Days Sales Outstanding (DSO)	82.05	82.47	84.44	84.84	86.07	80.41	86.30	84.96	85.00	83.31	82.93
Days Inventory Outstanding (DIO)	35.65	36.48	39.12	38.01	35.50	33.06	33.84	35.92	36.57	35.27	35.89
Days Payable Outstanding (DPO)	54.39	55.44	61.27	57.58	61.72	53.70	56.17	61.65	62.85	53.90	57.30
Cash Conversion Cycle (CCC)	63.31	63.51	62.30	65.27	59.85	59.77	63.97	59.23	58.72	64.68	61.52
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	756	746	843	820	803	788	849	830	827	858	855
Invested Capital Turnover	1.00	1.04	1.02	1.07	1.12	1.16	1.06	1.07	1.07	1.05	1.01
Increase / (Decrease) in Invested Capital	-73	-90	21	17	46	42	6.37	9.84	24	70	5.70
Enterprise Value (EV)	1,373	915	1,084	795	1,481	961	1,711	1,587	1,382	1,182	1,183
Market Capitalization	1,467	1,001	1,162	903	1,640	1,148	1,885	1,792	1,623	1,444	1,456
Book Value per Share	$13.80	$13.48	$14.91	$14.85	$15.37	$15.59	$16.65	$16.33	$16.86	$17.69	$17.81
Tangible Book Value per Share	$13.80	$13.48	$14.91	$14.85	$15.37	$15.59	$16.65	$16.33	$16.86	$17.69	$17.81
Total Capital	1,137	1,104	1,217	1,233	1,279	1,300	1,370	1,390	1,434	1,499	1,497
Total Debt	57	42	34	28	27	25	23	22	20	18	2.65
Total Long-Term Debt	47	32	27	21	20	18	2.66	2.46	0.03	0.03	0.02
Net Debt	-324	-316	-340	-385	-449	-488	-498	-538	-586	-623	-640
Capital Expenditures (CapEx)	12	66	31	27	21	52	43	20	24	43	35
Debt-free, Cash-free Net Working Capital (DFCFNWC)	111	102	134	129	112	95	122	108	115	125	119
Debt-free Net Working Capital (DFNWC)	492	461	508	542	588	607	643	668	722	765	761
Net Working Capital (NWC)	481	451	501	535	582	600	622	649	702	747	758
Net Nonoperating Expense (NNE)	-2.66	-8.36	10	-9.98	0.68	-14	2.72	-15	-7.84	0.76	-19
Net Nonoperating Obligations (NNO)	-324	-316	-340	-385	-449	-488	-498	-538	-586	-623	-640
Total Depreciation and Amortization (D&A)	20	19	19	20	20	21	21	21	20	21	21
Debt-free, Cash-free Net Working Capital to Revenue	13.93%	12.42%	15.85%	14.82%	12.84%	10.61%	13.56%	12.21%	13.22%	14.37%	13.75%
Debt-free Net Working Capital to Revenue	61.80%	55.89%	60.06%	62.25%	67.23%	68.03%	71.68%	75.47%	82.77%	88.27%	88.19%
Net Working Capital to Revenue	60.45%	54.68%	59.29%	61.45%	66.47%	67.28%	69.36%	73.28%	80.47%	86.19%	87.88%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.51	$0.62	$0.23	$0.65	$0.44	$0.73	$0.43	$0.59	$0.56	$0.54	$0.69
Adjusted Weighted Average Basic Shares Outstanding	60.70M	60.56M	60.89M	61.14M	61.23M	61.14M	61.46M	61.77M	61.82M	61.73M	62.09M
Adjusted Diluted Earnings per Share	$0.51	$0.60	$0.23	$0.65	$0.44	$0.71	$0.42	$0.58	$0.55	$0.54	$0.68
Adjusted Weighted Average Diluted Shares Outstanding	61.30M	61.19M	61.47M	61.51M	61.97M	61.76M	62.28M	62.41M	62.41M	62.39M	62.66M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	61.69M	61.74M	62.47M	62.52M	62.55M	62.60M	63.35M	63.36M	63.35M	63.34M	63.56M
Normalized Net Operating Profit after Tax (NOPAT)	47	47	39	49	49	49	42	41	40	41	39
Normalized NOPAT Margin	21.17%	22.30%	18.48%	21.50%	21.83%	21.56%	19.33%	19.01%	19.11%	18.41%	18.57%
Pre Tax Income Margin	30.63%	33.93%	19.68%	35.16%	28.70%	36.68%	24.84%	35.29%	29.53%	24.61%	36.37%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	109.27	202.01	639.95	602.61	511.74	773.64	598.13	698.05	1,075.03	720.79	1,642.66
NOPAT to Interest Expense	74.86	132.11	600.08	367.87	388.40	454.00	464.52	375.07	695.25	539.27	838.20
EBIT Less CapEx to Interest Expense	90.74	16.10	161.54	403.87	344.40	287.69	116.87	516.25	653.97	152.25	893.72
NOPAT Less CapEx to Interest Expense	56.33	-53.81	121.66	169.13	221.06	-31.94	-16.75	193.28	274.18	-29.27	89.27
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	9.84%	1.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.25%

Frequently Asked Questions About Photronics' Financials

When does Photronics's fiscal year end?

According to the most recent income statement we have on file, Photronics' financial year ends in October. Their financial year 2024 ended on October 31, 2024.

How has Photronics' net income changed over the last 10 years?

Photronics' net income appears to be on an upward trend, with a most recent value of $183.85 million in 2024, rising from $32.04 million in 2014. The previous period was $199.63 million in 2023.

What is Photronics's operating income?

Photronics's total operating income in 2024 was $221.52 million, based on the following breakdown:

Total Gross Profit: $315.95 million
Total Operating Expenses: $94.43 million

How has Photronics revenue changed over the last 10 years?

Over the last 10 years, Photronics' total revenue changed from $455.53 million in 2014 to $866.95 million in 2024, a change of 90.3%.

How much debt does Photronics have?

Photronics' total liabilities were at $231.30 million at the end of 2024, a 7.7% decrease from 2023, and a 20.2% decrease since 2014.

How much cash does Photronics have?

In the past 10 years, Photronics' cash and equivalents has ranged from $192.93 million in 2014 to $598.49 million in 2024, and is currently $598.49 million as of their latest financial filing in 2024.

How has Photronics' book value per share changed over the last 10 years?

Over the last 10 years, Photronics' book value per share changed from 10.17 in 2014 to 17.69 in 2024, a change of 74.0%.

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This page (NASDAQ:PLAB) was last updated on 4/15/2025 by MarketBeat.com Staff

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Photronics (PLAB) Financials

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