Photronics, Inc. (PLAB) vs Veeco Instruments Inc. (VECO)

Photronics, Inc. and Veeco Instruments Inc. are both Semiconductor Equipment & Materials companies. Veeco Instruments Inc. is the larger, with a market value of $2.8B against $1.7B — 1.6× the size. Photronics, Inc. trades at the lower P/E: 9.7× against 113×. Photronics, Inc. grew revenue faster over the last twelve months: 1.25% against −2.52%. Photronics, Inc. has the higher net margin (19.0% vs 3.35%) and the higher return on invested capital (11.3% vs 1.64%). Across the 22 metrics below, Photronics, Inc. leads on 19 and Veeco Instruments Inc. on 3.

Valuation

Metric PLAB VECO Semiconductor Equipment & Materials median
P/E 9.66 112.62 45.03
P/S 1.85 3.82 4.64
P/B 0.92 2.89 3.22
Price to free cash flow 14.56 30.65 48.18
EV/EBITDA 3.40 63.71 33.11
EV/Sales 1.08 3.57 5.52
Earnings yield 10.36% 0.89% 1.41%
Free cash flow yield 6.87% 3.26% 1.67%

Profitability

Metric PLAB VECO Semiconductor Equipment & Materials median
Gross margin 33.65% 37.92% 43.95%
Operating margin 22.46% 2.69% 10.32%
Net margin 19.04% 3.35% 7.45%
Free cash flow margin 12.74% 12.47% 6.77%
Return on equity 10.06% 2.60% 4.78%
Return on assets 8.82% 1.70% 3.62%
Return on invested capital 11.32% 1.64% 6.10%

Growth

Metric PLAB VECO Semiconductor Equipment & Materials median
Revenue growth (TTM) 1.25% (2.52%) 14.60%
EPS growth (last fiscal year) 9.09% (52.03%) (4.56%)
Revenue growth, 5-year CAGR 6.85% 7.90% 10.11%
Net income growth, 5-year CAGR 32.17% 0.00% 0.00%

Health

Metric PLAB VECO Semiconductor Equipment & Materials median
Debt to equity 0.00 0.25 0.09
Current ratio 4.94 3.93 3.66
Net debt to EBITDA (2.06) (2.95) (0.49)

Dividend

Metric PLAB VECO Semiconductor Equipment & Materials median
Dividend yield — — 0.42%
Payout ratio — — 0.19

Size

Metric PLAB VECO Semiconductor Equipment & Materials median
Market cap 1.68b 2.76b 3.80b

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack