Photronics (PLAB) Financials

$16.94 -3.12 (-15.55%)

Closing price 05/28/2025 04:00 PM Eastern

Extended Trading

$17.24 +0.30 (+1.79%)

As of 09:15 AM 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	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	10/31/2024	10/31/2023	10/31/2022	10/31/2021	10/31/2020	10/31/2019	10/31/2018	10/29/2017	10/30/2016	11/1/2015	11/2/2014
Net Income / (Loss) Attributable to Common Shareholders	131	125	119	55	34	30	42	13	46	45	26
Consolidated Net Income / (Loss)	184	200	179	79	40	40	61	21	56	57	32
Net Income / (Loss) Continuing Operations	184	200	179	79	40	40	61	21	56	57	32
Total Pre-Tax Income	247	270	239	102	62	51	69	27	60	70	41
Total Operating Income	222	253	212	95	64	52	66	32	52	72	29
Total Gross Profit	316	336	294	167	135	121	132	91	119	143	100
Total Revenue	867	892	825	664	610	551	535	451	483	524	456
Operating Revenue	867	892	825	664	610	551	535	451	483	524	456
Total Cost of Revenue	551	556	530	497	475	430	404	359	365	381	355
Operating Cost of Revenue	551	556	530	497	475	430	404	359	365	381	355
Total Operating Expenses	94	83	82	72	71	69	66	59	66	71	72
Selling, General & Admin Expense	78	69	64	58	54	52	51	44	45	49	50
Research & Development Expense	17	14	18	18	17	16	14	16	22	22	22
Other Special Charges / (Income)	0.09	0.00	0.02	-3.53	0.00	0.00	-	-	-	-	-
Total Other Income / (Expense), net	26	17	27	7.45	-2.33	-1.42	2.94	-5.30	8.00	-2.19	13
Interest Expense	0.33	0.43	1.86	1.69	2.37	1.43	2.26	2.24	3.37	4.99	7.25
Other Income / (Expense), net	26	17	29	9.14	0.04	0.01	5.21	-3.07	2.42	2.80	20
Income Tax Expense	64	70	60	23	21	10	7.34	5.28	4.80	13	9.30
Net Income / (Loss) Attributable to Noncontrolling Interest	53	74	60	23	6.52	11	19	8.16	9.48	12	6.04
Basic Earnings per Share	$2.12	$2.05	$1.96	$0.90	$0.52	$0.45	$0.61	$0.19	$0.68	$0.67	$0.42
Weighted Average Basic Shares Outstanding	61.73M	61.14M	60.56M	61.41M	64.87M	66.35M	68.83M	68.44M	67.54M	66.33M	61.78M
Diluted Earnings per Share	$2.09	$2.03	$1.94	$0.89	$0.52	$0.44	$0.59	$0.19	$0.64	$0.63	$0.41
Weighted Average Diluted Shares Outstanding	62.39M	61.76M	61.19M	62.00M	65.47M	69.16M	74.82M	69.29M	76.35M	78.38M	66.68M
Weighted Average Basic & Diluted Shares Outstanding	63.34M	62.60M	61.74M	60.90M	63.92M	65.42M	68.90M	69.10M	67.90M	66.60M	61.90M

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	2/2/2025	10/31/2024	7/28/2024	4/28/2024	1/28/2024	10/31/2023	7/30/2023	4/30/2023	1/29/2023	10/31/2022	7/31/2022
Net Income / (Loss) Attributable to Common Shareholders	43	34	34	36	26	45	27	40	14	37	31
Consolidated Net Income / (Loss)	58	40	48	56	39	63	48	59	29	55	49
Net Income / (Loss) Continuing Operations	58	40	48	56	39	63	48	59	29	55	49
Total Pre-Tax Income	77	55	62	77	54	83	64	81	42	71	67
Total Operating Income	52	56	52	56	57	65	65	67	56	61	64
Total Gross Profit	76	82	75	79	79	85	87	88	76	80	84
Total Revenue	212	223	211	217	216	227	224	229	211	210	220
Operating Revenue	212	223	211	217	216	227	224	229	211	210	220
Total Cost of Revenue	137	140	136	138	137	143	137	141	135	130	136
Operating Cost of Revenue	137	140	136	138	137	143	137	141	135	130	136
Total Operating Expenses	23	26	23	23	22	20	22	21	20	20	20
Selling, General & Admin Expense	19	21	19	19	18	17	18	18	17	16	16
Research & Development Expense	4.26	5.28	3.56	4.29	3.45	3.37	3.51	3.48	3.30	4.05	4.15
Total Other Income / (Expense), net	25	-1.13	10	21	-3.75	19	-0.91	14	-14	11	3.62
Interest Expense	0.05	0.08	0.06	0.11	0.09	0.11	0.13	0.13	0.07	0.36	0.62
Other Income / (Expense), net	25	-1.05	10	21	-3.66	19	-0.79	14	-14	11	4.24
Income Tax Expense	19	15	14	20	15	20	16	21	13	16	18
Net Income / (Loss) Attributable to Noncontrolling Interest	15	6.36	14	20	13	19	21	19	15	18	18
Basic Earnings per Share	$0.69	$0.54	$0.56	$0.59	$0.43	$0.73	$0.44	$0.65	$0.23	$0.62	$0.51
Weighted Average Basic Shares Outstanding	62.09M	61.73M	61.82M	61.77M	61.46M	61.14M	61.23M	61.14M	60.89M	60.56M	60.70M
Diluted Earnings per Share	$0.68	$0.54	$0.55	$0.58	$0.42	$0.71	$0.44	$0.65	$0.23	$0.60	$0.51
Weighted Average Diluted Shares Outstanding	62.66M	62.39M	62.41M	62.41M	62.28M	61.76M	61.97M	61.51M	61.47M	61.19M	61.30M
Weighted Average Basic & Diluted Shares Outstanding	63.56M	63.34M	63.35M	63.36M	63.35M	62.60M	62.55M	62.52M	62.47M	61.74M	61.69M

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	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	10/31/2024	10/31/2023	10/31/2022	10/31/2021	10/31/2020	10/31/2019	10/31/2018	10/29/2017	10/30/2016	11/1/2015	11/2/2014
Net Change in Cash & Equivalents	99	179	43	-1.92	72	-125	26	-12	108	13	-23
Net Cash From Operating Activities	261	302	275	151	143	68	131	97	122	133	96
Net Cash From Continuing Operating Activities	261	302	275	151	143	68	131	97	122	133	96
Net Income / (Loss) Continuing Operations	184	200	179	79	40	40	61	21	56	57	32
Consolidated Net Income / (Loss)	184	200	179	79	40	40	61	21	56	57	32
Depreciation Expense	82	80	80	88	89	79	80	82	78	76	73
Amortization Expense	0.37	0.36	0.36	2.86	4.64	4.64	4.80	4.87	5.23	6.73	7.28
Non-Cash Adjustments To Reconcile Net Income	14	8.00	6.31	5.35	4.93	3.68	3.18	3.63	-5.11	3.69	-12
Changes in Operating Assets and Liabilities, net	-19	14	9.31	-24	3.96	-60	-18	-15	-11	-9.77	-3.51
Net Cash From Investing Activities	-156	-102	-148	-103	-66	-151	-91	-98	52	-104	-87
Net Cash From Continuing Investing Activities	-156	-102	-148	-103	-66	-151	-91	-98	52	-104	-87
Purchase of Property, Plant & Equipment	-131	-131	-112	-109	-71	-178	-93	-92	-50	-104	-91
Acquisitions	-0.09	-0.12	-0.21	-0.17	-0.16	-0.10	-0.22	-6.23	-0.01	-0.77	-0.36
Purchase of Investments	-101	-20	-39	0.00	0.00	-	-	-	-	-	-
Sale and/or Maturity of Investments	73	48	0.00	0.00	-	-	-	0.17	102	0.00	0.00
Other Investing Activities, net	2.29	2.52	3.64	5.78	5.26	27	1.93	0.02	0.60	0.50	-0.54
Net Cash From Financing Activities	-7.73	-18	-39	-54	-16	-42	-14	-11	-67	-7.10	-30
Net Cash From Continuing Financing Activities	-7.73	-18	-39	-54	-16	-42	-14	-11	-67	-7.10	-30
Repayment of Debt	-6.62	-18	-65	-20	-7.39	-61	-5.16	-5.46	-58	-9.75	-31
Repurchase of Common Equity	0.00	0.00	-2.52	-48	-34	-22	-23	0.00	0.00	-	-
Issuance of Common Equity	1.92	1.25	31	3.87	22	31	23	2.83	3.46	2.65	1.30
Other Financing Activities, net	-3.03	-1.30	-1.47	-0.44	-0.25	-	-	-	-	-	-
Effect of Exchange Rate Changes	2.13	-2.68	-46	4.70	11	-	-	-	0.80	-8.85	-2.02

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	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	2/2/2025	10/31/2024	7/28/2024	4/28/2024	1/28/2024	10/31/2023	7/30/2023	4/30/2023	1/29/2023	10/31/2022	7/31/2022
Net Change in Cash & Equivalents	44	61	43	-15	9.45	51	81	33	15	-61	51
Net Cash From Operating Activities	78	68	75	76	42	107	86	82	28	79	93
Net Cash From Continuing Operating Activities	78	68	75	76	42	107	86	82	28	79	93
Net Income / (Loss) Continuing Operations	58	40	48	56	39	63	48	59	29	55	49
Consolidated Net Income / (Loss)	58	40	48	56	39	63	48	59	29	55	49
Depreciation Expense	21	21	20	21	21	21	20	20	19	19	20
Non-Cash Adjustments To Reconcile Net Income	3.33	4.05	3.34	3.93	2.57	2.13	2.04	2.01	1.82	1.69	1.58
Changes in Operating Assets and Liabilities, net	-3.92	2.90	3.44	-4.60	-21	20	15	0.74	-22	3.20	22
Net Cash From Investing Activities	6.85	-14	-27	-72	-42	-37	-1.97	-32	-30	-103	-12
Net Cash From Continuing Investing Activities	6.85	-14	-27	-72	-42	-37	-1.97	-32	-30	-103	-12
Purchase of Property, Plant & Equipment	-35	-43	-24	-20	-43	-52	-21	-27	-31	-66	-12
Purchase of Investments	0.00	-	-35	-64	-2.44	-10	-	-9.84	0.00	-39	-
Sale and/or Maturity of Investments	41	28	31	11	2.50	25	19	4.00	0.00	-	-
Other Investing Activities, net	0.56	0.75	0.12	0.38	1.04	0.61	0.61	0.38	0.93	2.43	0.02
Net Cash From Financing Activities	-20	-1.30	-1.70	-1.86	-2.87	-2.09	-1.16	-5.53	-9.71	-13	-23
Net Cash From Continuing Financing Activities	-20	-1.30	-1.70	-1.86	-2.87	-2.09	-1.16	-5.53	-9.71	-13	-23
Repayment of Debt	-15	-2.12	-1.66	-1.65	-1.19	-2.09	-1.63	-5.50	-9.22	-14	-24
Repurchase of Common Equity	-4.57	-	-	-	0.00	-	-	-	-	-	-
Issuance of Common Equity	1.43	0.84	0.02	0.12	0.94	0.01	0.51	0.06	0.67	0.24	1.12
Other Financing Activities, net	-2.00	-0.02	-0.06	-0.33	-2.61	-0.01	-0.04	-0.08	-1.17	-0.01	-0.01
Effect of Exchange Rate Changes	-21	8.58	-2.62	-17	13	-16	-1.81	-12	27	-25	-6.39

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	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	10/31/2024	10/31/2023	10/31/2022	10/31/2021	10/31/2020	10/31/2019	10/31/2018	10/29/2017	10/30/2016	11/1/2015	11/2/2014
Total Assets	1,712	1,526	1,316	1,294	1,188	1,119	1,110	1,021	988	1,043	1,029
Total Current Assets	931	785	645	551	500	428	503	449	442	361	336
Cash & Equivalents	598	499	320	277	279	207	329	308	314	206	193
Short-Term Investments	42	13	39	0.00	-	-	-	-	-	-	-
Accounts Receivable	201	195	198	174	134	134	121	105	93	110	95
Inventories, net	57	50	51	55	57	48	29	24	22	24	22
Other Current Assets	33	28	37	44	30	38	24	12	13	21	19
Plant, Property, & Equipment, net	745	709	644	697	631	632	572	535	506	547	550
Total Noncurrent Assets	36	32	27	47	57	59	35	36	40	135	143
Noncurrent Deferred & Refundable Income Taxes	23	21	20	24	22	21	18	15	16	13	11
Other Noncurrent Operating Assets	13	10	7.49	23	31	30	5.02	3.87	3.79	4.61	8.17
Total Liabilities & Shareholders' Equity	1,712	1,526	1,316	1,294	1,188	1,119	1,110	1,021	988	1,043	1,029
Total Liabilities	231	251	254	294	226	208	205	155	163	281	290
Total Current Liabilities	184	185	194	176	143	152	191	82	81	193	139
Short-Term Debt	18	6.62	10	22	14	11	57	4.64	5.43	65	10
Accounts Payable	79	84	80	82	75	91	89	51	52	88	86
Accrued Expenses	87	95	104	72	54	50	44	26	24	39	42
Total Noncurrent Liabilities	47	65	60	117	83	56	14	74	81	89	151
Long-Term Debt	0.03	18	32	89	55	42	0.00	57	62	67	132
Other Noncurrent Operating Liabilities	47	47	28	28	28	14	14	14	18	19	16
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	1,481	1,276	1,062	1,001	962	911	905	865	825	762	739
Total Preferred & Common Equity	1,121	975	832	824	805	770	760	745	710	647	628
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	1,121	975	832	824	805	770	760	745	710	647	628
Common Stock	515	503	494	485	508	525	556	548	542	527	521
Retained Earnings	692	561	436	318	279	254	231	189	176	130	85
Accumulated Other Comprehensive Income / (Loss)	-86	-89	-98	21	18	-9.01	-4.97	6.89	-7.67	-11	22
Noncontrolling Interest	360	301	231	177	157	141	145	121	115	116	111

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	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	2/2/2025	7/28/2024	4/28/2024	1/28/2024	7/30/2023	4/30/2023	1/29/2023	7/31/2022
Total Assets	1,705	1,645	1,603	1,583	1,503	1,451	1,442	1,350
Total Current Assets	921	893	844	808	772	720	701	678
Cash & Equivalents	642	537	494	509	448	367	335	381
Short-Term Investments	0.00	69	66	13	27	45	39	-
Accounts Receivable	188	200	198	204	206	214	221	206
Inventories, net	58	55	54	51	55	55	53	50
Other Current Assets	33	31	32	32	35	38	53	40
Plant, Property, & Equipment, net	750	723	729	743	701	700	711	641
Total Noncurrent Assets	34	30	30	32	30	31	30	31
Noncurrent Deferred & Refundable Income Taxes	19	20	20	22	19	19	22	23
Other Noncurrent Operating Assets	15	9.58	10	10	11	12	8.02	8.20
Total Liabilities & Shareholders' Equity	1,705	1,645	1,603	1,583	1,503	1,451	1,442	1,350
Total Liabilities	210	232	235	236	251	246	259	270
Total Current Liabilities	163	191	196	185	191	185	199	197
Short-Term Debt	2.63	20	19	21	6.59	7.02	6.54	11
Accounts Payable	86	89	95	87	102	93	85	82
Accrued Expenses	74	82	82	78	83	85	108	104
Total Noncurrent Liabilities	48	41	40	50	61	61	60	73
Long-Term Debt	0.02	0.03	2.46	2.66	20	21	27	47
Other Noncurrent Operating Liabilities	48	41	37	48	41	40	32	26
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,494	1,413	1,368	1,347	1,252	1,205	1,183	1,080
Total Preferred & Common Equity	1,128	1,068	1,035	1,023	961	928	921	850
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,128	1,068	1,035	1,023	961	928	921	850
Common Stock	516	511	507	504	500	498	496	493
Retained Earnings	732	658	624	587	517	490	450	399
Accumulated Other Comprehensive Income / (Loss)	-120	-100	-96	-68	-56	-60	-24	-41
Noncontrolling Interest	366	345	333	324	291	277	262	230

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

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	10/31/2024	10/31/2023	10/31/2022	10/31/2021	10/31/2020	10/31/2019	10/31/2018	10/29/2017	10/30/2016	11/1/2015	11/2/2014
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-2.82%	8.19%	24.22%	8.87%	10.72%	2.87%	18.77%	-6.78%	-7.77%	15.08%	7.90%
EBITDA Growth	-5.88%	9.34%	65.50%	23.01%	16.01%	-12.35%	34.49%	-16.24%	-12.51%	22.32%	19.73%
EBIT Growth	-8.37%	12.24%	132.32%	62.10%	22.72%	-26.41%	145.95%	-47.54%	-26.83%	54.46%	40.55%
NOPAT Growth	-12.04%	17.79%	117.46%	74.50%	0.58%	-28.98%	129.48%	-47.14%	-17.61%	162.73%	-0.35%
Net Income Growth	-7.91%	11.38%	127.42%	95.36%	-0.37%	-33.88%	187.64%	-61.76%	-2.08%	77.49%	63.64%
EPS Growth	2.96%	4.64%	117.98%	71.15%	18.18%	-25.42%	210.53%	-70.31%	1.59%	53.66%	41.38%
Operating Cash Flow Growth	-13.48%	9.81%	82.52%	5.40%	109.17%	-47.62%	34.84%	-20.72%	-8.30%	38.23%	-3.06%
Free Cash Flow Firm Growth	-34.82%	-41.64%	2,520.26%	-121.88%	156.57%	-283.88%	400.28%	-122.97%	11.87%	158.36%	-13,864.76%
Invested Capital Growth	8.89%	5.64%	-10.73%	11.08%	-0.67%	19.69%	2.18%	7.01%	-2.87%	0.03%	25.90%
Revenue Q/Q Growth	-0.56%	1.97%	3.64%	5.07%	-1.13%	2.15%	4.63%	3.11%	-6.63%	3.44%	4.17%
EBITDA Q/Q Growth	-7.95%	4.27%	11.93%	17.29%	0.72%	2.31%	6.59%	12.34%	-9.44%	18.78%	11.35%
EBIT Q/Q Growth	-10.41%	4.58%	16.06%	32.73%	-4.08%	-9.35%	11.60%	36.42%	-29.42%	32.48%	4.98%
NOPAT Q/Q Growth	-4.65%	1.14%	15.47%	25.48%	-13.85%	7.66%	8.71%	11.98%	-24.57%	33.59%	5.97%
Net Income Q/Q Growth	-11.09%	4.12%	17.45%	34.12%	-9.95%	-8.44%	11.41%	22.62%	-21.87%	37.31%	5.91%
EPS Q/Q Growth	-7.52%	5.73%	17.58%	32.84%	-7.14%	-8.33%	20.41%	-5.00%	-21.95%	36.96%	5.13%
Operating Cash Flow Q/Q Growth	-12.76%	9.95%	17.80%	-15.24%	16.16%	1.90%	18.70%	-7.37%	-8.00%	5.42%	2.86%
Free Cash Flow Firm Q/Q Growth	-36.23%	4.58%	18.20%	53.19%	-9.49%	-10.78%	755.20%	-136.16%	2.35%	30.56%	6.25%
Invested Capital Q/Q Growth	3.74%	-1.84%	-1.39%	0.78%	0.44%	0.68%	-0.93%	7.16%	-3.00%	-0.12%	-0.29%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	36.44%	37.68%	35.68%	25.17%	22.09%	21.94%	24.57%	20.26%	24.55%	27.31%	22.03%
EBITDA Margin	38.13%	39.37%	38.96%	29.24%	25.88%	24.70%	28.99%	25.60%	28.49%	30.03%	28.26%
Operating Margin	25.55%	28.37%	25.69%	14.25%	10.49%	9.47%	12.26%	7.07%	10.85%	13.78%	6.32%
EBIT Margin	28.58%	30.31%	29.21%	15.62%	10.49%	9.47%	13.23%	6.39%	11.36%	14.31%	10.66%
Profit (Net Income) Margin	21.21%	22.38%	21.74%	11.87%	6.62%	7.35%	11.44%	4.72%	11.52%	10.85%	7.03%
Tax Burden Percent	74.31%	73.95%	74.99%	77.27%	65.49%	79.86%	89.30%	80.14%	92.07%	81.18%	77.51%
Interest Burden Percent	99.87%	99.84%	99.23%	98.38%	96.30%	97.27%	96.81%	92.24%	110.16%	93.35%	85.08%
Effective Tax Rate	25.69%	26.05%	25.01%	22.73%	34.51%	20.14%	10.70%	19.86%	7.93%	18.82%	22.49%
Return on Invested Capital (ROIC)	20.00%	24.40%	20.09%	9.20%	5.55%	5.99%	9.36%	4.26%	8.23%	9.84%	4.18%
ROIC Less NNEP Spread (ROIC-NNEP)	16.53%	21.29%	11.62%	6.13%	6.38%	6.52%	8.35%	5.99%	4.66%	10.99%	-3.34%
Return on Net Nonoperating Assets (RNNOA)	-6.66%	-7.32%	-2.71%	-1.17%	-1.24%	-1.53%	-2.44%	-1.75%	-1.21%	-2.27%	0.65%
Return on Equity (ROE)	13.34%	17.08%	17.38%	8.03%	4.31%	4.46%	6.92%	2.52%	7.01%	7.57%	4.83%
Cash Return on Invested Capital (CROIC)	11.49%	18.91%	31.43%	-1.29%	6.22%	-11.94%	7.21%	-2.51%	11.14%	9.82%	-18.75%
Operating Return on Assets (OROA)	15.30%	19.03%	18.46%	8.35%	5.55%	4.68%	6.65%	2.87%	5.41%	7.24%	5.07%
Return on Assets (ROA)	11.35%	14.05%	13.73%	6.35%	3.50%	3.63%	5.75%	2.12%	5.48%	5.49%	3.35%
Return on Common Equity (ROCE)	10.14%	13.20%	13.95%	6.66%	3.62%	3.76%	5.88%	2.17%	6.00%	6.43%	4.41%
Return on Equity Simple (ROE_SIMPLE)	16.40%	20.48%	21.56%	9.57%	5.01%	5.26%	8.06%	2.86%	7.84%	8.79%	5.10%
Net Operating Profit after Tax (NOPAT)	165	187	159	73	42	42	59	26	48	59	22
NOPAT Margin	18.99%	20.98%	19.27%	11.01%	6.87%	7.56%	10.95%	5.67%	9.99%	11.19%	4.90%
Net Nonoperating Expense Percent (NNEP)	3.47%	3.11%	8.47%	3.07%	-0.84%	-0.53%	1.02%	-1.72%	3.57%	-1.15%	7.51%
Return On Investment Capital (ROIC_SIMPLE)	10.98%	14.39%	14.38%	-	-	-	-	-	-	-	-
Cost of Revenue to Revenue	63.56%	62.32%	64.32%	74.83%	77.91%	78.06%	75.43%	79.74%	75.45%	72.69%	77.97%
SG&A Expenses to Revenue	8.97%	7.79%	7.76%	8.67%	8.79%	9.50%	9.60%	9.67%	9.22%	9.34%	10.90%
R&D to Revenue	1.91%	1.53%	2.22%	2.79%	2.81%	2.98%	2.71%	3.52%	4.48%	4.18%	4.81%
Operating Expenses to Revenue	10.89%	9.32%	9.99%	10.92%	11.60%	12.48%	12.31%	13.19%	13.70%	13.53%	15.71%
Earnings before Interest and Taxes (EBIT)	248	270	241	104	64	52	71	29	55	75	49
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	331	351	321	194	158	136	155	115	138	157	129
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.29	1.18	1.20	0.96	0.80	1.03	0.88	0.88	0.95	0.99	0.88
Price to Tangible Book Value (P/TBV)	1.29	1.18	1.20	0.96	0.80	1.04	0.89	0.91	0.97	1.03	0.93
Price to Revenue (P/Rev)	1.67	1.29	1.21	1.20	1.05	1.44	1.24	1.46	1.39	1.22	1.22
Price to Earnings (P/E)	11.05	9.15	8.42	14.33	18.93	26.61	15.84	50.14	14.54	14.35	21.36
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	9.05%	10.93%	11.87%	6.98%	5.28%	3.76%	6.31%	1.99%	6.88%	6.97%	4.68%
Enterprise Value to Invested Capital (EV/IC)	1.38	1.22	1.23	0.96	0.78	1.03	0.85	0.86	0.93	0.99	0.88
Enterprise Value to Revenue (EV/Rev)	1.36	1.08	1.11	1.21	0.96	1.42	1.01	1.18	1.12	1.12	1.15
Enterprise Value to EBITDA (EV/EBITDA)	3.57	2.74	2.85	4.15	3.72	5.74	3.47	4.62	3.92	3.74	4.06
Enterprise Value to EBIT (EV/EBIT)	4.77	3.56	3.80	7.78	9.18	14.97	7.61	18.51	9.84	7.86	10.76
Enterprise Value to NOPAT (EV/NOPAT)	7.18	5.14	5.76	11.04	14.03	18.75	9.20	20.87	11.18	10.05	23.43
Enterprise Value to Operating Cash Flow (EV/OCF)	4.52	3.18	3.33	5.35	4.11	11.41	4.13	5.50	4.42	4.43	5.43
Enterprise Value to Free Cash Flow (EV/FCFF)	12.50	6.63	3.68	0.00	12.52	0.00	11.95	0.00	8.25	10.08	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.01	0.02	0.04	0.11	0.07	0.06	0.06	0.07	0.08	0.17	0.19
Long-Term Debt to Equity	0.00	0.01	0.03	0.09	0.06	0.05	0.00	0.07	0.07	0.09	0.18
Financial Leverage	-0.40	-0.34	-0.23	-0.19	-0.19	-0.23	-0.29	-0.29	-0.26	-0.21	-0.19
Leverage Ratio	1.17	1.22	1.27	1.26	1.23	1.23	1.20	1.19	1.28	1.38	1.44
Compound Leverage Factor	1.17	1.21	1.26	1.24	1.19	1.19	1.17	1.10	1.41	1.29	1.23
Debt to Total Capital	1.20%	1.89%	3.83%	10.04%	6.66%	5.47%	5.97%	6.68%	7.54%	14.82%	16.13%
Short-Term Debt to Total Capital	1.20%	0.51%	0.91%	2.00%	1.33%	1.13%	5.97%	0.50%	0.61%	7.32%	1.18%
Long-Term Debt to Total Capital	0.00%	1.38%	2.93%	8.04%	5.33%	4.35%	0.00%	6.18%	6.93%	7.50%	14.95%
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	24.01%	23.12%	20.88%	15.90%	15.26%	14.65%	15.06%	13.02%	12.89%	12.91%	12.64%
Common Equity to Total Capital	74.79%	74.99%	75.29%	74.06%	78.08%	79.88%	78.97%	80.30%	79.57%	72.27%	71.23%
Debt to EBITDA	0.05	0.07	0.13	0.58	0.44	0.39	0.37	0.54	0.49	0.84	1.10
Net Debt to EBITDA	-1.88	-1.39	-0.98	-0.85	-1.33	-1.13	-1.75	-2.13	-1.79	-1.06	-1.12
Long-Term Debt to EBITDA	0.00	0.05	0.10	0.46	0.35	0.31	0.00	0.50	0.45	0.43	1.02
Debt to NOPAT	0.11	0.13	0.27	1.53	1.64	1.27	0.98	2.43	1.39	2.26	6.37
Net Debt to NOPAT	-3.78	-2.61	-1.99	-2.26	-5.02	-3.69	-4.64	-9.63	-5.11	-2.84	-6.45
Long-Term Debt to NOPAT	0.00	0.10	0.20	1.22	1.31	1.01	0.00	2.25	1.28	1.14	5.91
Altman Z-Score	5.82	4.91	4.47	3.09	3.08	3.55	3.27	3.77	3.84	2.47	2.09
Noncontrolling Interest Sharing Ratio	23.96%	22.72%	19.75%	17.03%	15.93%	15.76%	15.01%	13.95%	14.53%	15.11%	8.59%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.07	4.24	3.33	3.13	3.50	2.81	2.63	5.49	5.43	1.87	2.42
Quick Ratio	4.58	3.82	2.87	2.56	2.89	2.24	2.35	5.05	5.00	1.64	2.07
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	95	145	249	-10	47	-83	45	-15	65	58	-100
Operating Cash Flow to CapEx	199.66%	230.15%	244.96%	138.20%	202.00%	38.34%	141.02%	105.29%	243.56%	128.03%	105.79%
Free Cash Flow to Firm to Interest Expense	283.05	334.97	133.84	-6.09	19.83	-58.21	19.94	-6.72	19.44	11.72	-13.83
Operating Cash Flow to Interest Expense	782.77	697.87	148.19	89.48	60.43	47.99	57.72	43.33	36.30	26.69	13.30
Operating Cash Flow Less CapEx to Interest Expense	390.72	394.64	87.69	24.73	30.52	-77.19	16.79	2.18	21.39	5.84	0.73
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.54	0.63	0.63	0.53	0.53	0.49	0.50	0.45	0.48	0.51	0.48
Accounts Receivable Turnover	4.38	4.54	4.43	4.30	4.53	4.32	4.74	4.55	4.77	5.12	5.43
Inventory Turnover	10.35	11.04	10.01	8.83	9.01	11.12	15.27	15.70	15.78	16.34	17.19
Fixed Asset Turnover	1.19	1.32	1.23	1.00	0.96	0.91	0.97	0.87	0.92	0.96	0.94
Accounts Payable Turnover	6.77	6.80	6.58	6.33	5.70	4.76	5.77	7.01	5.22	4.37	4.59
Days Sales Outstanding (DSO)	83.31	80.41	82.47	84.94	80.50	84.50	77.00	80.16	76.51	71.22	67.26
Days Inventory Outstanding (DIO)	35.27	33.06	36.48	41.34	40.50	32.84	23.90	23.25	23.13	22.33	21.23
Days Payable Outstanding (DPO)	53.90	53.70	55.44	57.65	64.06	76.65	63.27	52.05	69.86	83.56	79.60
Cash Conversion Cycle (CCC)	64.68	59.77	63.51	68.63	56.93	40.69	37.63	51.37	29.79	9.99	8.89
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	858	788	746	836	752	757	633	619	579	596	596
Invested Capital Turnover	1.05	1.16	1.04	0.84	0.81	0.79	0.86	0.75	0.82	0.88	0.85
Increase / (Decrease) in Invested Capital	70	42	-90	83	-5.06	125	13	41	-17	0.16	123
Enterprise Value (EV)	1,182	961	915	806	588	780	539	533	540	590	523
Market Capitalization	1,444	1,148	1,001	794	640	793	666	658	672	640	555
Book Value per Share	$17.69	$15.59	$13.48	$13.47	$12.26	$11.46	$11.11	$10.80	$10.42	$9.68	$10.17
Tangible Book Value per Share	$17.69	$15.59	$13.48	$13.47	$12.21	$11.34	$10.93	$10.55	$10.13	$9.31	$9.68
Total Capital	1,499	1,300	1,104	1,112	1,031	964	962	927	893	895	882
Total Debt	18	25	42	112	69	53	57	62	67	133	142
Total Long-Term Debt	0.03	18	32	89	55	42	0.00	57	62	67	132
Net Debt	-623	-488	-316	-165	-210	-154	-272	-246	-247	-166	-144
Capital Expenditures (CapEx)	131	131	112	109	71	178	93	92	50	104	91
Debt-free, Cash-free Net Working Capital (DFCFNWC)	125	95	102	120	92	80	40	64	52	28	15
Debt-free Net Working Capital (DFNWC)	765	607	461	397	371	286	369	372	366	234	208
Net Working Capital (NWC)	747	600	451	374	357	276	312	367	360	168	197
Net Nonoperating Expense (NNE)	-19	-12	-20	-5.76	1.52	1.13	-2.63	4.25	-7.36	1.78	-9.72
Net Nonoperating Obligations (NNO)	-623	-488	-316	-165	-210	-154	-272	-246	-247	-166	-144
Total Depreciation and Amortization (D&A)	83	81	80	90	94	84	84	87	83	82	80
Debt-free, Cash-free Net Working Capital to Revenue	14.37%	10.61%	12.42%	18.09%	15.12%	14.51%	7.44%	14.19%	10.68%	5.28%	3.25%
Debt-free Net Working Capital to Revenue	88.27%	68.03%	55.89%	59.77%	60.83%	52.02%	68.96%	82.54%	75.64%	44.56%	45.61%
Net Working Capital to Revenue	86.19%	67.28%	54.68%	56.42%	58.59%	50.04%	58.22%	81.51%	74.52%	32.06%	43.33%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.12	$2.05	$1.96	$0.90	$0.52	$0.45	$0.61	$0.19	$0.68	$0.67	$0.42
Adjusted Weighted Average Basic Shares Outstanding	61.73M	61.14M	60.56M	61.41M	64.87M	66.35M	68.83M	68.44M	67.54M	66.33M	61.78M
Adjusted Diluted Earnings per Share	$2.09	$2.03	$1.94	$0.89	$0.52	$0.44	$0.59	$0.19	$0.64	$0.63	$0.41
Adjusted Weighted Average Diluted Shares Outstanding	62.39M	61.76M	61.19M	62.00M	65.47M	69.16M	74.82M	69.29M	76.35M	78.38M	66.68M
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	63.34M	62.60M	61.74M	60.90M	63.92M	65.42M	66.99M	69.05M	68.33M	66.98M	66.35M
Normalized Net Operating Profit after Tax (NOPAT)	165	187	159	70	42	42	59	26	48	59	22
Normalized NOPAT Margin	18.99%	20.98%	19.27%	10.60%	6.87%	7.56%	10.95%	5.67%	9.99%	11.19%	4.90%
Pre Tax Income Margin	28.54%	30.26%	28.99%	15.37%	10.10%	9.21%	12.81%	5.89%	12.51%	13.36%	9.07%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	741.76	624.43	129.72	61.54	27.02	36.58	31.31	12.89	16.31	15.04	6.70
NOPAT to Interest Expense	492.83	432.19	85.55	43.36	17.69	29.21	25.91	11.43	14.36	11.75	3.08
EBIT Less CapEx to Interest Expense	349.72	321.21	69.23	-3.21	-2.89	-88.60	-9.62	-28.26	1.41	-5.81	-5.87
NOPAT Less CapEx to Interest Expense	100.79	128.97	25.06	-21.39	-12.23	-95.96	-15.02	-29.72	-0.55	-9.10	-9.49
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	12.18%	40.03%	111.26%	13.34%	38.98%	23.09%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	1.41%	73.39%	125.29%	164.84%	51.08%	38.98%	23.09%	0.00%	0.00%

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	2/2/2025	10/31/2024	7/28/2024	4/28/2024	1/28/2024	10/31/2023	7/30/2023	4/30/2023	1/29/2023	10/31/2022	7/31/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.94%	-2.13%	-5.90%	-5.37%	2.48%	8.18%	1.94%	12.13%	11.20%	15.98%	28.89%
EBITDA Growth	31.48%	-27.66%	-2.87%	-3.14%	22.79%	15.50%	-3.26%	29.14%	-6.05%	59.83%	58.32%
EBIT Growth	43.42%	-34.44%	-3.30%	-4.91%	29.41%	16.51%	-5.13%	40.66%	-5.03%	86.87%	104.38%
NOPAT Growth	-5.77%	-16.41%	-17.60%	-16.30%	7.18%	4.55%	5.10%	33.16%	38.09%	82.42%	116.28%
Net Income Growth	49.06%	-36.31%	-0.18%	-4.89%	35.00%	14.28%	-1.97%	37.75%	-8.75%	93.02%	102.11%
EPS Growth	61.90%	-23.94%	25.00%	-10.77%	82.61%	18.33%	-13.73%	44.44%	-39.47%	93.55%	82.14%
Operating Cash Flow Growth	89.04%	-35.88%	-12.57%	-6.72%	49.96%	34.51%	-7.29%	85.69%	-53.19%	110.39%	68.80%
Free Cash Flow Firm Growth	-4.89%	-519.38%	513.61%	-3.86%	94.37%	-94.92%	-97.82%	-60.37%	127.61%	337.01%	303.37%
Invested Capital Growth	0.67%	8.89%	3.04%	1.20%	0.76%	5.64%	6.13%	2.07%	2.53%	-10.73%	-8.77%
Revenue Q/Q Growth	-4.71%	5.52%	-2.77%	0.31%	-4.90%	1.46%	-2.22%	8.63%	0.39%	-4.40%	7.55%
EBITDA Q/Q Growth	29.63%	-8.34%	-15.47%	30.91%	-28.68%	23.06%	-15.70%	65.94%	-32.91%	3.08%	12.53%
EBIT Q/Q Growth	40.94%	-12.14%	-18.80%	42.64%	-35.57%	29.58%	-20.15%	94.12%	-42.00%	5.51%	18.40%
NOPAT Q/Q Growth	-3.88%	1.64%	-2.26%	-1.31%	-14.74%	0.19%	-0.72%	26.38%	-16.83%	0.72%	25.79%
Net Income Q/Q Growth	44.83%	-16.49%	-14.55%	44.24%	-38.12%	30.88%	-18.59%	104.74%	-47.61%	12.27%	14.40%
EPS Q/Q Growth	25.93%	-1.82%	-5.17%	38.10%	-40.85%	61.36%	-32.31%	182.61%	-61.67%	17.65%	13.33%
Operating Cash Flow Q/Q Growth	14.77%	-8.94%	-1.84%	84.27%	-61.07%	24.15%	4.73%	196.23%	-65.08%	-14.43%	109.77%
Free Cash Flow Firm Q/Q Growth	215.88%	-282.48%	-49.28%	-11.32%	411.00%	167.00%	-92.05%	79.29%	-86.65%	14.53%	44.57%
Invested Capital Q/Q Growth	-0.40%	3.74%	-0.33%	-2.24%	7.73%	-1.84%	-2.11%	-2.67%	12.96%	-1.39%	-5.86%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	35.61%	36.97%	35.61%	36.52%	36.64%	37.32%	38.71%	38.55%	36.04%	38.17%	38.13%
EBITDA Margin	46.19%	33.96%	39.09%	44.96%	34.45%	45.94%	37.87%	43.93%	28.76%	43.03%	39.91%
Operating Margin	24.60%	25.08%	24.72%	25.83%	26.57%	28.48%	29.11%	29.24%	26.51%	28.79%	28.97%
EBIT Margin	36.39%	24.61%	29.55%	35.38%	24.88%	36.73%	28.76%	35.22%	19.71%	34.11%	30.90%
Profit (Net Income) Margin	27.46%	18.07%	22.83%	25.98%	18.07%	27.76%	21.52%	25.85%	13.71%	26.28%	22.38%
Tax Burden Percent	75.50%	73.41%	77.33%	73.61%	72.72%	75.69%	74.98%	73.53%	69.71%	77.47%	73.07%
Interest Burden Percent	99.94%	100.03%	99.91%	99.74%	99.83%	99.87%	99.80%	99.83%	99.84%	99.47%	99.12%
Effective Tax Rate	24.50%	26.59%	22.67%	26.39%	27.28%	24.31%	25.02%	26.47%	30.29%	22.53%	26.93%
Return on Invested Capital (ROIC)	18.81%	19.39%	20.44%	20.40%	20.50%	25.07%	24.49%	23.05%	18.78%	23.26%	21.24%
ROIC Less NNEP Spread (ROIC-NNEP)	15.49%	19.53%	18.93%	17.12%	21.15%	21.56%	24.67%	19.89%	22.39%	19.78%	20.16%
Return on Net Nonoperating Assets (RNNOA)	-6.20%	-7.87%	-7.35%	-6.14%	-7.01%	-7.41%	-8.17%	-5.57%	-5.62%	-4.61%	-4.75%
Return on Equity (ROE)	12.61%	11.53%	13.09%	14.26%	13.49%	17.66%	16.32%	17.49%	13.16%	18.64%	16.49%
Cash Return on Invested Capital (CROIC)	18.36%	11.49%	18.19%	20.77%	21.62%	18.91%	17.79%	20.46%	17.99%	31.43%	26.52%
Operating Return on Assets (OROA)	19.10%	13.18%	16.37%	20.51%	14.77%	23.06%	17.64%	22.03%	12.00%	21.55%	18.69%
Return on Assets (ROA)	14.41%	9.67%	12.64%	15.05%	10.72%	17.43%	13.20%	16.17%	8.35%	16.61%	13.53%
Return on Common Equity (ROCE)	9.54%	8.76%	9.97%	10.88%	10.37%	13.65%	12.68%	13.67%	10.42%	14.96%	13.26%
Return on Equity Simple (ROE_SIMPLE)	18.00%	0.00%	19.36%	19.99%	20.51%	0.00%	19.95%	20.77%	19.17%	0.00%	17.95%
Net Operating Profit after Tax (NOPAT)	39	41	40	41	42	49	49	49	39	47	47
NOPAT Margin	18.57%	18.41%	19.11%	19.01%	19.33%	21.56%	21.83%	21.50%	18.48%	22.30%	21.17%
Net Nonoperating Expense Percent (NNEP)	3.32%	-0.14%	1.52%	3.28%	-0.65%	3.51%	-0.18%	3.16%	-3.61%	3.48%	1.09%
Return On Investment Capital (ROIC_SIMPLE)	2.63%	2.73%	-	-	3.05%	3.77%	-	-	-	4.25%	-
Cost of Revenue to Revenue	64.39%	63.03%	64.39%	63.48%	63.36%	62.69%	61.29%	61.45%	63.96%	61.83%	61.87%
SG&A Expenses to Revenue	9.00%	9.44%	9.21%	8.75%	8.47%	7.35%	8.04%	7.80%	7.97%	7.46%	7.26%
R&D to Revenue	2.01%	2.37%	1.69%	1.98%	1.59%	1.48%	1.56%	1.52%	1.56%	1.92%	1.89%
Operating Expenses to Revenue	11.01%	11.85%	10.90%	10.73%	10.06%	8.84%	9.61%	9.31%	9.53%	9.39%	9.14%
Earnings before Interest and Taxes (EBIT)	77	55	62	77	54	84	64	81	42	72	68
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	98	76	82	98	75	105	85	101	61	90	88
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.29	1.29	1.52	1.73	1.84	1.18	1.71	0.97	1.26	1.20	1.72
Price to Tangible Book Value (P/TBV)	1.29	1.29	1.52	1.73	1.84	1.18	1.71	0.97	1.26	1.20	1.72
Price to Revenue (P/Rev)	1.69	1.67	1.86	2.02	2.10	1.29	1.87	1.04	1.37	1.21	1.84
Price to Earnings (P/E)	9.88	11.05	11.48	13.37	13.69	9.15	13.90	7.39	10.59	8.42	14.45
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	10.12%	9.05%	8.71%	7.48%	7.30%	10.93%	7.19%	13.53%	9.44%	11.87%	6.92%
Enterprise Value to Invested Capital (EV/IC)	1.38	1.38	1.67	1.91	2.02	1.22	1.85	0.97	1.29	1.23	1.81
Enterprise Value to Revenue (EV/Rev)	1.37	1.36	1.59	1.79	1.91	1.08	1.69	0.91	1.28	1.11	1.73
Enterprise Value to EBITDA (EV/EBITDA)	3.35	3.57	3.85	4.39	4.69	2.74	4.40	2.34	3.42	2.85	4.78
Enterprise Value to EBIT (EV/EBIT)	4.36	4.77	5.00	5.69	6.06	3.56	5.73	3.04	4.54	3.80	6.61
Enterprise Value to NOPAT (EV/NOPAT)	7.30	7.18	8.01	8.76	9.04	5.14	8.01	4.35	6.36	5.76	9.98
Enterprise Value to Operating Cash Flow (EV/OCF)	3.96	4.52	4.61	5.11	5.42	3.18	5.39	2.83	4.45	3.33	5.88
Enterprise Value to Free Cash Flow (EV/FCFF)	7.56	12.50	9.33	9.26	9.36	6.63	10.68	4.79	7.24	3.68	6.53
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.01	0.01	0.02	0.02	0.02	0.02	0.02	0.03	0.04	0.05
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.01	0.02	0.02	0.02	0.03	0.04
Financial Leverage	-0.40	-0.40	-0.39	-0.36	-0.33	-0.34	-0.33	-0.28	-0.25	-0.23	-0.24
Leverage Ratio	1.16	1.17	1.18	1.19	1.20	1.22	1.22	1.23	1.25	1.27	1.27
Compound Leverage Factor	1.16	1.18	1.18	1.18	1.19	1.21	1.22	1.23	1.25	1.26	1.26
Debt to Total Capital	0.18%	1.20%	1.40%	1.57%	1.71%	1.89%	2.09%	2.30%	2.78%	3.83%	5.04%
Short-Term Debt to Total Capital	0.18%	1.20%	1.40%	1.39%	1.52%	0.51%	0.52%	0.57%	0.54%	0.91%	0.94%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.18%	0.19%	1.38%	1.57%	1.73%	2.25%	2.93%	4.10%
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	24.48%	24.01%	24.10%	23.97%	23.65%	23.12%	22.73%	22.44%	21.53%	20.88%	20.19%
Common Equity to Total Capital	75.34%	74.79%	74.50%	74.46%	74.64%	74.99%	75.18%	75.27%	75.68%	75.29%	74.77%
Debt to EBITDA	0.01	0.05	0.06	0.06	0.06	0.07	0.08	0.08	0.11	0.13	0.20
Net Debt to EBITDA	-1.81	-1.88	-1.63	-1.49	-1.37	-1.39	-1.33	-1.13	-1.07	-0.98	-1.13
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.01	0.01	0.05	0.06	0.06	0.09	0.10	0.16
Debt to NOPAT	0.02	0.11	0.12	0.12	0.12	0.13	0.14	0.16	0.20	0.27	0.42
Net Debt to NOPAT	-3.95	-3.78	-3.40	-2.97	-2.63	-2.61	-2.43	-2.11	-1.99	-1.99	-2.35
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.01	0.01	0.10	0.11	0.12	0.16	0.20	0.34
Altman Z-Score	5.94	5.45	5.93	6.31	6.47	4.50	5.58	3.90	4.23	4.05	4.86
Noncontrolling Interest Sharing Ratio	24.30%	23.96%	23.87%	23.70%	23.17%	22.72%	22.31%	21.84%	20.82%	19.75%	19.58%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.66	5.07	4.67	4.32	4.36	4.24	4.05	3.89	3.52	3.33	3.44
Quick Ratio	5.11	4.58	4.22	3.87	3.91	3.82	3.58	3.39	2.98	2.87	2.98
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	34	-29	16	31	35	6.93	2.60	33	18	137	119
Operating Cash Flow to CapEx	222.91%	158.23%	307.43%	382.49%	95.83%	203.16%	407.30%	307.90%	89.01%	120.10%	803.54%
Free Cash Flow to Firm to Interest Expense	717.03	-382.65	274.76	285.65	393.71	64.21	20.61	243.91	280.46	384.68	191.70
Operating Cash Flow to Interest Expense	1,669.49	899.61	1,294.48	695.33	461.20	987.22	681.58	611.92	425.85	223.28	148.93
Operating Cash Flow Less CapEx to Interest Expense	920.55	331.07	873.41	513.54	-20.07	501.28	514.24	413.18	-52.57	37.37	130.39
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.52	0.54	0.55	0.58	0.59	0.63	0.61	0.63	0.61	0.63	0.60
Accounts Receivable Turnover	4.40	4.38	4.29	4.30	4.23	4.54	4.24	4.30	4.32	4.43	4.45
Inventory Turnover	10.17	10.35	9.98	10.16	10.78	11.04	10.28	9.60	9.33	10.01	10.24
Fixed Asset Turnover	1.16	1.19	1.22	1.24	1.23	1.32	1.30	1.28	1.21	1.23	1.19
Accounts Payable Turnover	6.37	6.77	5.81	5.92	6.50	6.80	5.91	6.34	5.96	6.58	6.71
Days Sales Outstanding (DSO)	82.93	83.31	85.00	84.96	86.30	80.41	86.07	84.84	84.44	82.47	82.05
Days Inventory Outstanding (DIO)	35.89	35.27	36.57	35.92	33.84	33.06	35.50	38.01	39.12	36.48	35.65
Days Payable Outstanding (DPO)	57.30	53.90	62.85	61.65	56.17	53.70	61.72	57.58	61.27	55.44	54.39
Cash Conversion Cycle (CCC)	61.52	64.68	58.72	59.23	63.97	59.77	59.85	65.27	62.30	63.51	63.31
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	855	858	827	830	849	788	803	820	843	746	756
Invested Capital Turnover	1.01	1.05	1.07	1.07	1.06	1.16	1.12	1.07	1.02	1.04	1.00
Increase / (Decrease) in Invested Capital	5.70	70	24	9.84	6.37	42	46	17	21	-90	-73
Enterprise Value (EV)	1,183	1,182	1,382	1,587	1,711	961	1,481	795	1,084	915	1,373
Market Capitalization	1,456	1,444	1,623	1,792	1,885	1,148	1,640	903	1,162	1,001	1,467
Book Value per Share	$17.81	$17.69	$16.86	$16.33	$16.65	$15.59	$15.37	$14.85	$14.91	$13.48	$13.80
Tangible Book Value per Share	$17.81	$17.69	$16.86	$16.33	$16.65	$15.59	$15.37	$14.85	$14.91	$13.48	$13.80
Total Capital	1,497	1,499	1,434	1,390	1,370	1,300	1,279	1,233	1,217	1,104	1,137
Total Debt	2.65	18	20	22	23	25	27	28	34	42	57
Total Long-Term Debt	0.02	0.03	0.03	2.46	2.66	18	20	21	27	32	47
Net Debt	-640	-623	-586	-538	-498	-488	-449	-385	-340	-316	-324
Capital Expenditures (CapEx)	35	43	24	20	43	52	21	27	31	66	12
Debt-free, Cash-free Net Working Capital (DFCFNWC)	119	125	115	108	122	95	112	129	134	102	111
Debt-free Net Working Capital (DFNWC)	761	765	722	668	643	607	588	542	508	461	492
Net Working Capital (NWC)	758	747	702	649	622	600	582	535	501	451	481
Net Nonoperating Expense (NNE)	-19	0.76	-7.84	-15	2.72	-14	0.68	-9.98	10	-8.36	-2.66
Net Nonoperating Obligations (NNO)	-640	-623	-586	-538	-498	-488	-449	-385	-340	-316	-324
Total Depreciation and Amortization (D&A)	21	21	20	21	21	21	20	20	19	19	20
Debt-free, Cash-free Net Working Capital to Revenue	13.75%	14.37%	13.22%	12.21%	13.56%	10.61%	12.84%	14.82%	15.85%	12.42%	13.93%
Debt-free Net Working Capital to Revenue	88.19%	88.27%	82.77%	75.47%	71.68%	68.03%	67.23%	62.25%	60.06%	55.89%	61.80%
Net Working Capital to Revenue	87.88%	86.19%	80.47%	73.28%	69.36%	67.28%	66.47%	61.45%	59.29%	54.68%	60.45%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.69	$0.54	$0.56	$0.59	$0.43	$0.73	$0.44	$0.65	$0.23	$0.62	$0.51
Adjusted Weighted Average Basic Shares Outstanding	62.09M	61.73M	61.82M	61.77M	61.46M	61.14M	61.23M	61.14M	60.89M	60.56M	60.70M
Adjusted Diluted Earnings per Share	$0.68	$0.54	$0.55	$0.58	$0.42	$0.71	$0.44	$0.65	$0.23	$0.60	$0.51
Adjusted Weighted Average Diluted Shares Outstanding	62.66M	62.39M	62.41M	62.41M	62.28M	61.76M	61.97M	61.51M	61.47M	61.19M	61.30M
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	63.56M	63.34M	63.35M	63.36M	63.35M	62.60M	62.55M	62.52M	62.47M	61.74M	61.69M
Normalized Net Operating Profit after Tax (NOPAT)	39	41	40	41	42	49	49	49	39	47	47
Normalized NOPAT Margin	18.57%	18.41%	19.11%	19.01%	19.33%	21.56%	21.83%	21.50%	18.48%	22.30%	21.17%
Pre Tax Income Margin	36.37%	24.61%	29.53%	35.29%	24.84%	36.68%	28.70%	35.16%	19.68%	33.93%	30.63%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1,642.66	720.79	1,075.03	698.05	598.13	773.64	511.74	602.61	639.95	202.01	109.27
NOPAT to Interest Expense	838.20	539.27	695.25	375.07	464.52	454.00	388.40	367.87	600.08	132.11	74.86
EBIT Less CapEx to Interest Expense	893.72	152.25	653.97	516.25	116.87	287.69	344.40	403.87	161.54	16.10	90.74
NOPAT Less CapEx to Interest Expense	89.27	-29.27	274.18	193.28	-16.75	-31.94	221.06	169.13	121.66	-53.81	56.33
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	2.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.41%	9.84%

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. Find out what analysts predict for Photronics in the coming months.

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 5/29/2025 by MarketBeat.com Staff

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Photronics (PLAB) Financials

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Photronics (PLAB) Financials

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