Photronics (PLAB) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Photronics

NasdaqGS•Technology•Semiconductor Equipment & Materials

$27.16-1.83(-0.06%)After hours

Market Cap

$1.69B

P/E

10.2x

P/S

1.9x

P/B

1.3x

Photronics, Inc., together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, China, Korea, Europe, and internationally. It offers photomasks that are used in the manufacture of integrated circuits and flat panel displays (FPDs); and to transfer circuit patterns onto semiconductor wafers, and FDP substrates. The company also provides electrical and optical components. It sells its products to semiconductor and FPD designers, manufacturers, and foundries through its sales personnel and customer service representatives. The company was formerly known as Photronic Labs, Inc. and changed its name to Photronics, Inc. in 1990. Photronics, Inc. was incorporated in 1969 and is based in Brookfield, Connecticut.

How this company scores

ExcellentMetricSide Score: 87/100

Strongest: Balance Sheet & Red Flags (25/25); weakest: Growth (17/25).

Profitability23/25

Growth17/25

Balance Sheet & Red Flags25/25

Cash & Earnings Quality22/25

Strengths

Rising free cash flowStrong marginsRising earningsLow leverage

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 10.2x5y range 9.7x – 25.3x

Currently near its 20-quarter median.

P/S · 1.9x5y range 1.3x – 3.4x

Currently near its 20-quarter median.

P/B · 1.3x5y range 1.0x – 2.3x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Margin Pressure

Watch

Operating margins declined 9.4% — watch for continued compression, which may signal competitive or cost pressure.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $1.69B

Metrics at a Glance

as of August 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $866.82M
Q. Revenue: $216.05M
TTM EBITDA: $273.49M
TTM Op. Income: $194.65M
Q. Op. Income: $45.50M
TTM Net Income: $165.09M
Q. Net Income: $28.92M
EPS: $0.5
Shares Out.: $58.18M

$866.82M in TTM revenue grew 1.2% YoY, reaching $216.05M last quarter. TTM EBITDA of $273.49M and TTM operating income of $194.65M show growth is flowing through to the bottom line. TTM net income of $165.09M means revenue is converting into profit. Over the past year, TTM revenue is up 1% — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 33.2%
EBITDA Margin: 30.8%
Op. Margin: 21.1%
Net Margin: 13.4%

Op. margin of 21.1% is down 1.8% YoY — costs are rising relative to revenue. Net margin at 13.4% and gross margin of 33.2% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 8% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 10.2x
P/S Ratio: 1.9x
P/B Ratio: 1.3x

At 10.2x P/E, the stock trades below typical market levels. P/S of 1.9x and P/B of 1.3x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 3% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.99B
Cash: $549.51M
Long-Term Debt: $4,000
Book Value: $1.28B
D/E Ratio: 0.0
Debt/EBITDA: 0.0

With $1.99B in assets and $4,000 in long-term debt, D/E is 0.0and book value is $1.28B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 78% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $76.33M
TTM Free Cash Flow: $110.47M
FCF Margin: 12.7%
FCF / Net Income: 0.7

TTM FCF of $110.47M on $76.33M in operating cash flow. The FCF / Net Income ratio of 0.7x means cash covers only part of net income — earnings quality needs attention. Across the last 8 quarters, free cash flow has risen for 3 consecutive quarters — an improving trend.