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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $849M | $299M | $136M | $60M | 11.6% | -2.0% | 4.4% |
| 2024 | $867M | $331M | $131M | $130M | 11.7% | -2.8% | 4.1% |
| 2023 | $892M | $351M | $125M | $171M | 12.9% | 8.2% | 5.6% |
| 2022 | $825M | $321M | $119M | $163M | 14.3% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 824.55 | 892.08 | 866.95 | 849.29 |
| Cost Of Revenue | - | 530.34 | 555.91 | 551 | 549.46 |
| Gross Profit | - | 294.21 | 336.16 | 315.95 | 299.83 |
| Operating Expense | - | 82.35 | 83.11 | 94.43 | 91.67 |
| Operating Income | - | 211.87 | 253.05 | 221.52 | 208.16 |
| EBITDA | - | 321.22 | 351.21 | 330.55 | 299.44 |
| EBIT | - | 240.89 | 270.38 | 247.75 | 221.84 |
| Pretax Income | - | 239.03 | 269.95 | 247.42 | 221.78 |
| Tax Provision | - | 59.79 | 70.31 | 63.57 | 31.55 |
| Net Income | - | 118.79 | 125.48 | 130.69 | 136.40 |
| Net Income Common Stockholders | - | 118.79 | 125.48 | 130.69 | 136.40 |
| Total Expenses | - | 612.68 | 639.03 | 645.43 | 641.13 |
| Interest Expense | - | 1.86 | 0.43 | 0.33 | 0.06 |
| Interest Income | - | 1.68 | 14.86 | 24.06 | 21.99 |
| Research And Development | - | 18.34 | 13.65 | 16.58 | 15.80 |
| Selling General And Administration | - | 63.99 | 69.46 | 77.76 | 75.62 |
| Normalized EBITDA | - | 293.88 | 348.75 | 328.39 | 307.75 |
| Normalized Income | - | 98.28 | 123.66 | 129.08 | 143.53 |
| Market Cap | 3,082.17 | 3,082.17 | 3,082.17 | 3,082.17 | 3,082.17 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Photronics, Inc.this co. | PLAB | $3.1B | 22.60β discount | 2.63 | 11.6% | 8.67 |
| Life360, Inc. | LIF | $3.5B | 24.49 | 6.74 | 27.5% | 107.48 |
| Adeia Inc. | ADEA | $3.3B | 30.21 | 6.98 | 23.1% | 15.47 |
| NCR Atleos Corporation | NATL | $3.3B | 20.28 | 8.15 | 40.2% | 7.78 |
| Diebold Nixdorf, Incorporated | DBD | $3.2B | 31.51 |
| - |
| - |
| - |
| - |
| - |
| 2.71 |
| 8.6% |
| 10.50 |
| Q2 Holdings, Inc. | QTWO | $3.1B | 59.35 | 4.66 | 7.9% | 27.00 |
| Veeco Instruments Inc. | VECO | $3.1B | 88.28 | 3.53 | 4.0% | 47.02 |
| Sunrun Inc. | RUN | $2.9B | 6.67 | 0.96 | 14.4% | 31.05 |
| Calix, Inc. | CALX | $2.9B | 154.71 | 3.22 | 2.1% | 68.20 |
| Peer Median | - | 30.86 | 4.10 | 11.5% | 29.02 | |