Photronics, Inc. (PLAB) vs SmartKem, Inc. (SMTK)

Photronics, Inc. and SmartKem, Inc. are both Semiconductor Equipment & Materials companies. Photronics, Inc. is the larger, with a market value of $1.8B against $1.0M — 1762.4× the size. SmartKem, Inc. has negative trailing earnings, so its P/E is not meaningful; Photronics, Inc. trades at 10.7×. SmartKem, Inc. grew revenue faster over the last twelve months: 561.0% against 1.25%. Photronics, Inc. has the higher net margin (19.0% vs 0.00%) and the higher return on invested capital (11.3% vs −97.0%). Across the 20 metrics below, Photronics, Inc. leads on 10 and SmartKem, Inc. on 10.

Valuation

Metric PLAB SMTK Semiconductor Equipment & Materials median
P/E 10.67 n/m 54.39
P/S 2.04 1.23 6.08
P/B 1.01 0.09 4.89
Price to free cash flow 16.08 n/m 60.92
EV/EBITDA 4.02 0.33 39.95
EV/Sales 1.27 (4.08) 6.36
Earnings yield 9.38% (5,879.12%) 1.14%
Free cash flow yield 6.22% (608.35%) 1.28%

Profitability

Metric PLAB SMTK Semiconductor Equipment & Materials median
Gross margin 33.65% 60.37% 43.95%
Operating margin 22.46% 0.00% 10.32%
Net margin 19.04% 0.00% 7.45%
Free cash flow margin 12.74% 0.00% 6.77%
Return on equity 10.06% (598.72%) 4.78%
Return on assets 8.82% (390.78%) 3.62%
Return on invested capital 11.32% (96.97%) 6.10%

Growth

Metric PLAB SMTK Semiconductor Equipment & Materials median
Revenue growth (TTM) 1.25% 560.95% 14.60%
EPS growth (last fiscal year) 9.09% 78.50% —
Revenue growth, 5-year CAGR 6.85% 49.29% 8.85%
Net income growth, 5-year CAGR 32.17% 0.00% 0.00%

Health

Metric PLAB SMTK Semiconductor Equipment & Materials median
Debt to equity 0.00 0.00 0.09
Current ratio 4.94 15.34 3.66
Net debt to EBITDA (2.06) 0.03 (0.49)

Dividend

Metric PLAB SMTK Semiconductor Equipment & Materials median
Dividend yield — — 0.85%
Payout ratio 0.00 — 0.00

Size

Metric PLAB SMTK Semiconductor Equipment & Materials median
Market cap 1.78b 1.01m 4.63b

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