Photronics, Inc. (PLAB) Financial Ratios
30 years of historical data (1996–2025) · Technology · Semiconductors
EV/EBITDA
↓
5.23
↑+87% vs avg
5yr avg: 2.80
30Y Low2.0·High15.4
P/FCF
↑
33.24
↑+148% vs avg
5yr avg: 13.41
30Y Low5.4·High138.1
P/B Ratio
↑
1.26
↑+41% vs avg
5yr avg: 0.90
30Y Low0.1·High3.6
ROE
↑
8.9%
-4% vs avg
5yr avg: 9.2%
30Y Low-37%·High15%
Debt/EBITDA
↓
0.02
↓-89% vs avg
5yr avg: 0.19
30Y Low0.0·High6.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
PLAB Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Photronics, Inc. trades at 14.8x earnings, 38% above its 5-year average of 10.7x, sitting at the 28th percentile of its historical range. Compared to the Technology sector median P/E of 29.0x, the stock trades at a discount of 49%. On a free-cash-flow basis, the stock trades at 33.2x P/FCF, 148% above the 5-year average of 13.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.0B | $1.4B | $1.4B | $1.1B | $992M | $805M | $638M | $816M | $729M | $672M | $741M |
| Enterprise Value | $1.5B | $946M | $847M | $661M | $715M | $640M | $431M | $662M | $457M | $426M | $494M |
| P/E Ratio → | 14.75 | 10.48 | 10.91 | 9.04 | 8.36 | 14.60 | 18.75 | 20.00 | 17.39 | 51.05 | 15.16 |
| P/S Ratio | 2.33 | 1.69 | 1.64 | 1.27 | 1.20 | 1.21 | 1.05 | 1.48 | 1.36 | 1.49 | 1.53 |
| P/B Ratio | 1.26 | 0.90 | 0.96 | 0.89 | 0.93 | 0.80 | 0.66 | 0.90 | 0.81 | 0.78 | 0.90 |
| P/FCF | 33.24 | 24.00 | 10.90 | 6.64 | 6.09 | 19.41 | 8.86 | — | 19.19 | 138.06 | 10.29 |
| P/OCF | 8.00 | 5.78 | 5.44 | 3.75 | 3.61 | 5.34 | 4.46 | 11.36 | 5.58 | 6.94 | 6.06 |
P/E links to full P/E history page with 30-year chart
PLAB EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Photronics, Inc.'s enterprise value stands at 5.2x EBITDA, 87% above its 5-year average of 2.8x. The Technology sector median is 16.7x, placing the stock at a 69% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.11 | 0.98 | 0.74 | 0.87 | 0.96 | 0.71 | 1.20 | 0.85 | 0.95 | 1.02 |
| EV / EBITDA | 5.23 | 3.31 | 2.78 | 1.98 | 2.45 | 3.46 | 2.73 | 4.87 | 3.05 | 3.60 | 3.65 |
| EV / EBIT | 7.18 | 4.54 | 3.42 | 2.44 | 2.97 | 6.18 | 6.73 | 12.70 | 6.45 | 13.37 | 7.74 |
| EV / FCF | — | 15.85 | 6.49 | 3.87 | 4.39 | 15.43 | 5.97 | — | 12.03 | 87.52 | 6.86 |
PLAB Profitability
Margins and return-on-capital ratios measuring operating efficiency
Photronics, Inc. earns an operating margin of 24.5%. Operating margins have compressed from 28.4% to 24.5% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 8.9% is modest. ROIC of 15.5% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.3% | 35.3% | 36.4% | 37.7% | 35.7% | 25.2% | 22.1% | 21.9% | 24.6% | 20.3% | 24.6% |
| Operating Margin | 24.5% | 24.5% | 25.6% | 28.4% | 25.7% | 14.2% | 10.5% | 9.5% | 12.3% | 7.1% | 10.9% |
| Net Profit Margin | 16.1% | 16.1% | 15.1% | 14.1% | 14.4% | 8.4% | 5.5% | 7.4% | 7.9% | 2.9% | 9.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.9% | 8.9% | 9.5% | 10.7% | 11.5% | 5.6% | 3.6% | 4.5% | 4.8% | 1.6% | 5.8% |
| ROA | 7.8% | 7.8% | 8.1% | 8.8% | 9.1% | 4.5% | 2.9% | 3.6% | 3.9% | 1.3% | 4.5% |
| ROIC | 15.5% | 15.5% | 19.5% | 23.9% | 19.5% | 8.9% | 6.3% | 5.6% | 7.9% | 4.0% | 6.2% |
| ROCE | 13.2% | 13.2% | 15.4% | 20.5% | 18.9% | 8.7% | 6.4% | 5.5% | 7.1% | 3.5% | 6.0% |
PLAB Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Photronics, Inc. carries a Debt/EBITDA ratio of 0.0x, which is very conservative (99% below the sector average of 2.9x). The company holds a net cash position — cash of $492M exceeds total debt of $6M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 3789.1x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.02 | 0.02 | 0.04 | 0.12 | 0.07 | 0.06 | 0.06 | 0.07 | 0.08 |
| Debt / EBITDA | 0.02 | 0.02 | 0.08 | 0.08 | 0.16 | 0.63 | 0.45 | 0.39 | 0.38 | 0.52 | 0.50 |
| Net Debt / Equity | — | -0.30 | -0.39 | -0.37 | -0.26 | -0.16 | -0.22 | -0.17 | -0.30 | -0.28 | -0.30 |
| Net Debt / EBITDA | -1.70 | -1.70 | -1.89 | -1.42 | -0.95 | -0.89 | -1.32 | -1.13 | -1.81 | -2.08 | -1.82 |
| Debt / FCF | — | -8.15 | -4.41 | -2.77 | -1.70 | -3.98 | -2.88 | — | -7.16 | -50.54 | -3.42 |
| Interest Coverage | 3789.11 | 3789.11 | 741.76 | 624.43 | 129.72 | 61.54 | 27.02 | 36.58 | 31.31 | 6.01 | 18.97 |
Net cash position: cash ($492M) exceeds total debt ($6M)
PLAB Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Photronics, Inc.'s current ratio of 5.37x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 4.99x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 4.24x to 5.37x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.37 | 5.37 | 5.07 | 4.24 | 3.33 | 3.13 | 3.50 | 2.89 | 2.63 | 5.49 | 5.43 |
| Quick Ratio | 4.99 | 4.99 | 4.76 | 3.97 | 3.06 | 2.81 | 3.10 | 2.57 | 2.48 | 5.20 | 5.16 |
| Cash Ratio | 3.55 | 3.55 | 3.49 | 2.77 | 1.85 | 1.57 | 1.95 | 1.36 | 1.72 | 3.77 | 3.86 |
| Asset Turnover | — | 0.47 | 0.51 | 0.58 | 0.63 | 0.51 | 0.51 | 0.49 | 0.48 | 0.44 | 0.49 |
| Inventory Turnover | 8.90 | 8.90 | 9.75 | 11.13 | 10.45 | 8.99 | 8.29 | 8.93 | 13.84 | 15.16 | 16.52 |
| Days Sales Outstanding | — | 90.98 | 90.54 | 85.20 | 95.89 | 114.66 | 94.18 | 94.16 | 82.18 | 85.30 | 69.94 |
PLAB Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Photronics, Inc. returns 4.9% to shareholders annually primarily through share buybacks. The earnings yield of 6.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | 2.5% | 5.5% | 1.1% | 1.2% | 1.6% |
| Payout Ratio | — | — | — | — | — | — | 47.8% | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.8% | 9.5% | 9.2% | 11.1% | 12.0% | 6.9% | 5.3% | 5.0% | 5.7% | 2.0% | 6.6% |
| FCF Yield | 3.0% | 4.2% | 9.2% | 15.1% | 16.4% | 5.2% | 11.3% | — | 5.2% | 0.7% | 9.7% |
| Buyback Yield | 4.9% | 6.8% | 0.0% | 0.0% | 0.3% | 6.0% | 5.4% | 2.7% | 3.2% | 0.0% | 0.0% |
| Total Shareholder Yield | 4.9% | 6.8% | 0.0% | 0.0% | 0.3% | 6.0% | 7.9% | 8.2% | 4.3% | 1.2% | 1.6% |
| Shares Outstanding | — | $60M | $62M | $62M | $61M | $62M | $65M | $69M | $75M | $69M | $76M |
Peer Comparison
Compare PLAB with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 PLABYou | $2B | 14.8 | 5.2 | 33.2 | 35.3% | 24.5% | 8.9% | 15.5% | 0.0 |
 ONTO | $17B | 120.1 | 84.2 | 55.4 | 49.7% | 13.2% | 6.8% | 5.7% | 0.1 |
 MKSI | $27B | 93.0 | 34.5 | 55.0 | 40.4% | 14.4% | 11.7% | 6.5% | 5.2 |
 COHU | $3B | -43.6 | — | 303.8 | 34.5% | -13.3% | -9.0% | -5.7% | — |
 ACLS | $6B | 49.4 | 41.3 | 53.9 | 44.9% | 14.2% | 11.7% | 9.6% | 0.3 |
 UCTT | $6B | -30.3 | 50.3 | 375.3 | 15.7% | 2.1% | -21.1% | 2.6% | 6.8 |
 ENTG | $27B | 115.3 | 23.4 | 68.7 | 44.4% | 28.9% | 6.2% | 9.3% | 3.0 |
 CAMT | $9B | 187.7 | 72.4 | 70.2 | 50.5% | 25.8% | 8.7% | 12.1% | 4.1 |
 ICHR | $3B | -64.0 | — | — | 9.3% | -4.1% | -7.7% | -3.9% | — |
 FORM | $12B | 216.7 | 104.4 | 993.0 | 39.1% | 8.2% | 5.5% | 5.4% | 0.4 |
 AMKR | $22B | 60.3 | 20.4 | 117.4 | 14.0% | 7.0% | 8.6% | 7.6% | 1.4 |
| Technology Median | — | 29.0 | 16.7 | 19.2 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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PLAB — Frequently Asked Questions
Quick answers to the most common questions about buying PLAB stock.
What is Photronics, Inc.'s P/E ratio?
Photronics, Inc.'s current P/E ratio is 14.8x. The historical average is 21.7x. This places it at the 28th percentile of its historical range.
What is Photronics, Inc.'s EV/EBITDA?
Photronics, Inc.'s current EV/EBITDA is 5.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 5.5x.
What is Photronics, Inc.'s ROE?
Photronics, Inc.'s return on equity (ROE) is 8.9%. The historical average is 3.4%.
Is PLAB stock overvalued?
Based on historical data, Photronics, Inc. is trading at a P/E of 14.8x. This is at the 28th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Photronics, Inc.'s profit margins?
Photronics, Inc. has 35.3% gross margin and 24.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Photronics, Inc. have?
Photronics, Inc.'s Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.