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Photronics Inc. PLAB

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$849.3M
▼ 2.0% YoY
$136.4M
▲ 4.4% YoY
$59.7M
▼ 54.3% YoY
In brief

What this company does

Photronics, Inc. is a manufacturer of photomasks, which are high precision photographic quartz or glass plates containing microscopic images of electronic circuits. It operates eleven manufacturing facilities, located in Taiwan (3), China (2), South Korea (1), the United States (3), and Europe (2). As of October 31, 2025, it had approximately 1,908 full-time and part-time employees worldwide. During 2025, it sold its products to approximately 636 customers. In 2025, its five largest customers accounted for approximately 50% of its revenue, in the aggregate. In 2025, revenues from its non-U.S. operations were approximately 82% of its total revenues. It operates as a single reporting segment.

Written from the business description in PHOTRONICS, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 17 December 2025. Every sentence was checked against that document before publication.

Growth
USD 849.3M
Revenue, FY2025 · full 17-year series below
Revenue $M Net income $M
FY2025 · Revenue 849.3 · Net income 136.4
400M800M200920112013201520172019202120232025
Compound annual growth
+1.0%
+6.9%
+4.9%
+4.7%
+4.7%
+32.2%
+11.8%
+12.3%
+5.5%
+34.4%
+13.7%
+11.8%
+238.0%
+23.2%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +6.9% a year over five years — but profit grew faster: net income at +32.2%, earnings per share at +34.4%.

The share count fell from 0.06B to 0.06B — the buyback concentrates the same profit into fewer slices.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
22 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 24.5% · Net 22.4%
10%20%-5%-10%200920112013201520172019202120232025
ROE
FY2025 · ROE 11.9%
5%10%200920112013201520172019202120232025
Gross margin35.3%
Operating margin24.5%
Net margin22.4%
Return on assets10.8%
EBITDAUSD 285.4M

Each USD of equity produced 12 cents of profit this year.

Cash & shareholders
USD 97.4M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 59.7
80M160M-40M-80M200920112013201520172019202120232025
Net buybacks $M Dividends $M
FY2025 · Dividends — · Net buybacks 97.4
40M80M2016201720182019202020212022202320242025
Dividends paid—
Net buybacksUSD 97.4M
Share of profit71.4%
Consecutive raises—

USD 97.4M in buybacks — 71% of the year's profit went back to shareholders.

Total assetsUSD 1.8B
EquityUSD 1.2B
CashUSD 492.3M
Gross debtUSD 13,000.00
Net debtUSD -492.2M
Current ratio5.37×

The company holds more cash than debt.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B0.80.90.90.80.70.60.60.50.50.50.50.50.40.50.50.40.4
Operating income $B0.20.20.30.20.10.10.10.10.00.10.10.00.00.00.10.0−0.0
EBITDA $B0.30.30.30.30.20.20.10.10.10.10.10.10.10.10.20.10.1
Income tax $B0.00.10.10.10.00.00.00.00.00.00.00.00.00.00.00.00.0
Net income $B0.10.10.10.10.10.00.00.00.00.00.00.00.00.00.00.0−0.0
Free cash flow $B0.10.10.20.20.00.1−0.10.00.00.10.00.00.00.00.10.00.0
EPS, diluted $2.282.092.031.940.890.520.440.590.190.640.630.410.290.440.280.43−0.97
Dividend / sh $·················
Payout %·················
ROE %11.912.513.914.46.84.33.95.61.86.87.04.33.25.23.45.4·
Shares out B0.060.060.060.060.060.060.070.070.070.070.070.070.060.060.060.05·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 81 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 12 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivitySemiconductors & Related Devices
Listed onNASDAQ
Incorporated inConnecticut
Fiscal year endsOctober 31
Data on record since2009

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