PHOTRONICS INC PLAB
Specific industry and technical terms used in this section are defined in the subsection entitled "Glossary of Terms and Acronyms," found below the Table of Contents.
Photronics, Inc. (and its subsidiaries, collectively referred to herein as "Photronics", the "Company", "we", "our", or "us") is one of the world's leading manufacturers of photomasks, which are high precision
photographic quartz or glass plates containing microscopic images of electronic circuits. Photomasks are a key element in the manufacture of ICs and FPDs and are used as masters to transfer circuit patterns onto semiconductor wafers and FPD
substrates during the fabrication of ICs, a variety of FPDs and, to a lesser extent, other types of electrical and optical components. We have eleven manufacturing facilities, which are located in Taiwan (3), China (2), South Korea (1), the United
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $849.3M | $866.9M | $892.1M | $824.5M | $663.8M | $609.7M | $550.7M | $535.3M | $450.7M | $483.5M |
| Cost of revenue | $549.5M | $551.0M | $555.9M | $530.3M | $496.7M | $475.0M | $429.8M | $403.8M | $359.4M | $364.8M |
| Gross profit | $299.8M | $315.9M | $336.2M | $294.2M | $167.0M | $134.7M | $120.8M | $131.5M | $91.3M | $118.7M |
| R&D | $15.8M | $16.6M | $13.7M | $18.3M | $18.5M | $17.1M | $16.4M | $14.5M | $15.9M | $21.7M |
| SG&A | $75.6M | $77.8M | $69.5M | $64.0M | $57.5M | $53.6M | $52.3M | $51.4M | $43.6M | $44.6M |
| Total operating expenses | $91.4M | $94.3M | $83.1M | $82.3M | $76.0M | $70.7M | $68.7M | $65.9M | $59.4M | $66.2M |
| Operating income | $208.2M | $221.5M | $253.1M | $211.9M | $94.6M | $63.9M | $52.1M | $65.6M | $31.9M | $52.5M |
| Pre-tax income | $221.8M | $247.4M | $269.9M | $239.0M | $102.0M | $61.6M | $50.7M | $68.6M | $26.6M | $60.5M |
| Income tax | $31.6M | $63.6M | $70.3M | $59.8M | $23.2M | $21.3M | $10.2M | $7.3M | $5.3M | $4.8M |
| Net income | $136.4M | $130.7M | $125.5M | $118.8M | $55.4M | $33.8M | $29.8M | $42.1M | $13.1M | $46.2M |
| EPS, basic | 2.29 | 2.12 | 2.05 | 1.96 | 0.90 | 0.52 | 0.45 | 0.61 | 0.19 | 0.68 |
| EPS, diluted | 2.28 | 2.09 | 2.03 | 1.94 | 0.89 | 0.52 | 0.44 | 0.59 | 0.19 | 0.64 |
| Shares, diluted (wtd. avg.) | $59.9M | $62.4M | $61.8M | $61.2M | $62.0M | $65.5M | $69.2M | $74.8M | $69.3M | $76.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $492.3M | $598.5M | $499.3M | $322.4M | $279.7M | $281.6M | $209.3M | $332.0M | $310.9M | $316.8M |
| Short-term investments | $95.9M | $42.2M | $12.9M | $38.8M | $0 | — | — | — | — | — |
| Receivables | $195.9M | $200.8M | $194.9M | $198.1M | $174.4M | $134.5M | $134.5M | $120.5M | $105.3M | $92.6M |
| Inventory | $61.8M | $56.5M | $50.0M | $50.8M | $55.2M | $57.3M | $48.2M | $29.2M | $23.7M | $22.1M |
| Total current assets | $890.1M | $931.1M | $785.5M | $644.7M | $550.6M | $500.1M | $427.5M | $502.7M | $449.1M | $441.6M |
| Property, plant and equipment | $854.4M | $745.3M | $709.2M | $643.9M | $696.6M | $631.5M | $632.4M | $571.8M | $535.2M | $506.4M |
| Other intangibles | — | — | — | — | $774.0K | $3.4M | $7.9M | $12.4M | $17.1M | $19.9M |
| Total assets | $1.80B | $1.71B | $1.53B | $1.32B | $1.29B | $1.19B | $1.12B | $1.11B | $1.02B | $988.0M |
| Accounts payable | $84.2M | $78.7M | $84.0M | $79.6M | $81.5M | $75.4M | $91.4M | $89.1M | $50.8M | $48.9M |
| Short-term debt | — | — | — | $10.0M | $22.2M | $9.0M | $2.1M | $57.5M | — | — |
| Total current liabilities | $165.9M | $183.8M | $185.2M | $193.8M | $176.1M | $142.9M | $152.0M | $191.1M | $81.8M | $81.3M |
| Long-term debt | — | — | — | $32.3M | $89.4M | $55.0M | $41.9M | $0 | — | — |
| Total liabilities | $207.2M | $231.3M | $250.6M | $253.7M | $293.6M | $225.9M | $207.6M | $205.4M | $155.5M | $162.5M |
| Retained earnings | $772.2M | $691.8M | $561.1M | $435.6M | $317.8M | $279.0M | $253.9M | $231.4M | $189.4M | $176.3M |
| Total equity | $1.17B | $1.12B | $1.28B | $1.06B | $1.00B | $962.3M | $911.1M | $904.6M | $865.3M | $825.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $247.8M | $261.4M | $302.2M | $275.2M | $150.8M | $143.0M | $68.4M | $130.6M | $96.8M | $122.1M |
| Depreciation and amortisation | $77.3M | $82.4M | $80.5M | $80.0M | $87.5M | $89.2M | $79.2M | $79.5M | $81.7M | $77.6M |
| Stock-based compensation | $13.4M | $13.9M | $8.0M | $6.3M | $5.3M | $4.9M | $3.7M | $3.2M | $3.6M | $3.8M |
| Capital expenditure | $188.1M | $130.9M | $131.3M | $112.3M | $109.1M | $70.8M | $178.4M | $92.6M | $92.0M | $50.1M |
| Investing cash flow | -$238.9M | -$156.5M | -$101.5M | -$147.8M | -$103.5M | -$65.7M | -$151.4M | -$90.9M | -$98.0M | $52.3M |
| Financing cash flow | -$115.3M | -$7.7M | -$18.5M | -$38.7M | -$53.9M | -$16.0M | -$42.1M | -$13.8M | -$10.9M | -$67.0M |
| Buybacks | $97.4M | $0 | $0 | $2.5M | $48.2M | $34.4M | $21.7M | $23.1M | $0 | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-25-045801.
Others in SIC 3674
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| INTC | INTEL CORP | $483.22B | — | -0.5% |
| AMAT | APPLIED MATERIALS INC /DE | $360.86B | 52.5x | 4.4% |
| TXN | TEXAS INSTRUMENTS INC | $236.02B | 47.4x | 13.0% |
| MRVL | Marvell Technology, Inc. | $196.03B | 72.8x | 42.1% |