Photronics, Inc.

PLAB Technology Semiconductor Equipment & Materials

Photronics, Inc.’s revenue for fiscal 2025 (year ended October 2025) was $849.3 million, down 2.04% from fiscal 2024. In the quarter to July 2026, revenue grew 2.69%, EPS grew 25.0%, free cash flow grew 56.1% and total debt rose 14,318.5%, each against the same quarter a year earlier.

27.52 1.01 −3.54%
Market cap
$1.7B
P/E
9.7×
Fwd P/E
14.0×
Dividend yield
—
F-score
6/9
Altman Z
6.06
Beneish M
−2.32
Dividend safety
n/a
Oct '16 Oct '17 Oct '18 Oct '19 Oct '20 Oct '21 Oct '22 Oct '23 Oct '24 Oct '25
P/E ratio
14.06 48.50 15.97 25.65 19.11 14.92 8.15 8.96 10.70 10.35
Piotroski F-Score
6 5 7 5 8 7 9 6 5 6
P/S ratio
1.36 1.47 1.25 1.42 1.08 1.26 1.19 1.26 1.62 1.68
Altman Z-Score
3.77 3.80 3.26 3.52 3.06 3.07 4.36 4.81 5.67 6.06
P/FCF ratio
9.54 230.02 18.55 0.00 9.16 20.25 6.05 6.59 10.83 24.08
Altman Z″-Score (non-manufacturers)
8.66 9.02 7.54 7.28 7.57 6.77 8.80 10.24 11.77 12.90
Beneish M-Score
(3.03) (2.61) (2.85) (2.16) (2.90) (2.70) (2.94) (2.75) (2.60) (2.32)
P/Operating CF
21.31 28.81 15.37 17.44 10.14 22.13 12.39 10.53 20.58 16.22
P/B ratio
0.79 0.77 0.74 0.86 0.68 0.83 0.92 0.88 0.95 0.89
Price to Tangible BV
0.81 0.78 0.75 0.87 0.69 0.83 0.93 0.88 0.95 0.89
EV/Sales
0.84 0.93 0.85 1.14 0.73 1.01 0.81 0.71 0.91 0.98
EV/EBITDA
3.02 3.53 3.04 4.63 2.83 3.62 2.28 1.90 2.58 2.93
EV/Operating CF
3.34 4.31 3.49 9.20 3.13 4.44 2.42 2.10 3.00 3.38
EV/FCF
5.95 144.76 12.61 (5.66) 6.23 16.25 4.10 3.73 6.04 14.14
Quick Ratio
5.00 5.05 2.35 2.24 2.89 2.56 2.87 3.82 4.58 4.73
Current Ratio
5.43 5.49 2.63 2.81 3.50 3.13 3.33 4.24 5.07 5.37
Net Debt/EBITDA
(1.82) (2.08) (1.81) (1.13) (1.33) (0.89) (1.08) (1.46) (2.05) (2.06)
Debt/Assets
6.81% 6.07% 5.18% 4.72% 5.78% 8.63% 3.22% 1.61% 1.05% 0.00%
Debt/Equity
0.08 0.07 0.06 0.06 0.07 0.11 0.04 0.02 0.01 0.00
Asset Turnover
0.48 0.45 0.50 0.49 0.53 0.53 0.63 0.63 0.54 0.48
Operating CF/Net income
2.64 7.37 3.10 2.30 4.23 2.72 2.32 2.41 2.00 1.82
Capex/Depreciation
(0.61) (1.07) (1.10) (2.13) (0.76) (1.21) (1.40) (1.63) (1.58) (2.43)
Interest Coverage
15.59 14.26 29.01 36.58 27.01 56.12 114.09 584.41 663.23 3,784.75
ROE
5.82% 1.55% 4.75% 3.28% 3.61% 5.65% 11.52% 10.74% 9.48% 8.86%
ROA
4.55% 1.31% 3.95% 2.67% 2.93% 4.47% 9.10% 8.83% 8.07% 7.76%
ROIC
5.67% 3.22% 6.48% 4.30% 5.31% 7.07% 17.75% 20.07% 16.13% 12.89%
Return on Tangible Assets
5.33% 1.45% 4.76% 3.28% 3.42% 5.18% 10.85% 9.58% 8.76% 8.64%
Average Days of Receivables
69.94 85.30 82.18 89.12 80.50 95.93 87.71 79.76 84.55 84.20
Research and Development Expense of Revenue
4.48% 3.52% 2.71% 2.98% 2.81% 2.79% 2.22% 1.53% 1.91% 1.86%
Selling, General and Administrative Expense of Revenue
9.22% 9.67% 9.60% 9.50% 8.79% 8.67% 7.76% 7.79% 8.97% 8.90%
Intangible Assets out of Total Assets
0.02 0.02 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.00
Share Based Compensation of Revenue
0.79% 0.80% 0.59% 0.67% 0.81% 0.81% 0.77% 0.90% 1.60% 1.58%
Graham Net Nets
0.43 0.44 0.44 0.28 0.42 0.31 0.40 0.48 0.50 0.48
Graham Number
13.78 7.54 13.43 11.92 13.30 18.27 28.02 31.02 33.91 37.32
Earnings Yield
7.11% 2.06% 6.26% 3.90% 5.23% 6.70% 12.27% 11.17% 9.34% 9.67%
Free Cash Flow Yield
10.48% 0.43% 5.39% (14.20%) 10.92% 4.94% 16.52% 15.16% 9.23% 4.15%
Revenue per Share
7.16 6.59 7.78 8.30 9.40 10.81 13.62 14.59 14.05 14.25
Operating CF per Share
1.81 1.41 1.90 1.03 2.21 2.46 4.54 4.94 4.24 4.16
Capex per Share
(0.74) (1.36) (1.35) (2.69) (1.09) (1.78) (1.86) (2.15) (2.12) (3.16)
Free Cash Flow per Share
1.07 0.06 0.55 (1.66) 1.11 0.68 2.69 2.79 2.11 1.00
Cash per Share
4.65 4.50 4.78 3.11 4.30 4.51 5.92 8.38 10.38 9.87
Shareholders Equity per Share
12.22 12.64 13.14 13.73 14.83 16.29 17.54 20.86 23.99 26.80
Interest Debt per Share
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Book value per Share
12.22 12.64 13.14 13.73 14.83 16.29 17.54 20.86 23.99 26.80
Free Cash Flow
71.98 4.03 37.76 (110.08) 72.07 41.50 162.64 170.76 130.41 59.57
Working Capital
360.27 367.35 311.66 275.57 357.20 374.47 450.86 600.23 747.25 724.18
Capital Expenditures
(50.16) (92.80) (92.80) (178.47) (70.97) (109.27) (112.54) (131.41) (131.03) (188.23)
Net Current Asset Value
279.07 293.63 297.29 219.95 274.22 256.98 390.91 534.84 699.76 682.83
EV/EBIT
7.78 13.11 6.95 12.07 6.99 7.07 3.14 2.51 3.54 4.02
Capex to Sales
0.10 0.21 0.17 0.32 0.12 0.16 0.14 0.15 0.15 0.22
Price to Operating Income
12.48 20.83 10.22 15.02 10.28 8.82 4.64 4.44 6.35 6.84
Other line items
Depreciation/Fixed assets
0.16 0.16 0.15 0.13 0.15 0.13 0.12 0.11 0.11 0.09
Cash ROIC
5.96% 0.33% 2.92% (9.41%) 5.50% 2.99% 11.12% 9.42% 6.10% 2.73%
Accounts Receivable Turnover
4.77 4.55 4.74 4.32 4.53 4.30 4.43 4.54 4.38 4.28
Accounts Payable Turnover
5.70 7.21 5.77 4.76 5.70 6.33 6.58 6.80 6.77 6.75
Inventory Turnover
15.78 15.70 15.27 11.12 9.01 8.83 10.01 11.04 10.35 9.29
Average Days of Payables
48.94 51.63 80.59 77.60 57.92 59.91 54.76 55.17 52.14 55.94
Days of Inventory on Hand
22.10 24.07 26.38 40.89 44.00 40.60 34.93 32.80 37.45 41.03
Average Receivables
101.35 98.98 112.92 127.48 134.46 154.46 186.30 196.54 197.88 198.38
Average Payables
64.02 49.87 69.99 90.26 83.38 78.46 80.55 81.80 81.37 81.46
Average Inventory
23.12 22.89 26.44 38.67 52.71 56.26 53.00 50.36 53.25 59.15
Average Assets
1,015.68 1,004.39 1,065.40 1,114.34 1,153.42 1,241.19 1,305.02 1,421.03 1,619.14 1,758.30
Average Common Equity
793.77 845.38 884.93 907.83 936.68 981.41 1,031.33 1,168.85 1,378.18 1,539.03

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Columns are period end dates